NEWS

NTA Achieves 69 Percent Work Progress in Expansion of Broadband Internet

Nov 26, 2020 0 1 minutes 37 seconds to read

November 26: Nepal Telecommunication Authority (NTA) has achieved 69 percent work progress in expansion of Broadband Internet across the…

Major Indicators of Economy Positive: NRB Report

Nov 26, 2020 0 3 minutes 59 seconds to read

…

Nepal-China Joint Trade Task Force Unable to Hold Meeting More than Once

Nov 26, 2020 0 2 minutes 20 seconds to read

November 26: It has been more than one year since the governments of Nepal and China signed a Memorandum of Understanding (MoU) for bilateral trade but there has been no progress in implementing the agreement till…

54th AGM of FNCCI begins from Today

Nov 26, 2020 0 2 minutes 22 seconds to read

November 26: The 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry is being held for three days starting from today (November…

‘Nepali Migrant Workers Travelling to Labour Destinations on Visit Visas’

Nov 25, 2020 0 3 minutes 4 seconds to read

November 25: Manpower companies have requested help from parliamentary committee after the country’s diplomatic missions did not show any interest to attest work permit for large number of Nepali migrant workers as per the demand from labour destination…

Hydropower Projects Start Getting License Through Fast-Track Process

Nov 25, 2020 0 2 minutes 10 seconds to read

November 25: Sixteen hydropower projects have obtained construction and power generation licenses from the Department of Electricity Development in the first four months of the current Fiscal Year 2077/78.…

Tourism Entrepreneurs Decry 7-Day Quarantine Provision for Foreign Visitors

Nov 25, 2020 0 3 minutes 18 seconds to read

November 25: Stakeholders have expressed concern regarding the arrival of tourists despite government’s commitment to gradually reopen the tourism industry because of the mandatory provision of seven-day quarantine for foreign…

Corruption Remains a Major Problem in Asia: TI

Nov 25, 2020 0 2 minutes 50 seconds to read

…

CCMC Decides to Increase International Flights

Nov 25, 2020 0 1 minutes 33 seconds to read

November 25: The government has decided to operate additional flights to foreign destinations.…

NCHL Working to Ensure Inter-Bank Card Settlement under the National Payment Switch

Nov 24, 2020 0 3 minutes 35 seconds to read

November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this…

Finance Minister warns of Action against Govt Staffers if they Fail to Meet Revenue Target

Nov 24, 2020 0 1 minutes 42 seconds to read

November 24: Finance minister Bishnu Prasad Poudel has warned government employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year.…

State-Owned Company to Extract Iron Using Locally Available Resources in Nawalparasi

Nov 24, 2020 0 4 minutes 14 seconds to read

November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the…

Sugar Mills Preparing to Sell Electricity from this Season

Nov 24, 2020 0 2 minutes 54 seconds to read

November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season.…

Nepal’s Bilateral Trade with China Shrinks by Rs 20 Billion

Nov 24, 2020 0 3 minutes 59 seconds to read

November 24: The government’s inability to fully operate Nepal’s customs points in the northern border is taking toll on trade between Nepal and China.…

Profit of Development Banks Shrinks by 25 Percent

Nov 23, 2020 0 1 minutes 55 seconds to read

November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'title' => 'NTA Achieves 69 Percent Work Progress in Expansion of Broadband Internet ',
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			'summary' => 'November 26: Nepal Telecommunication Authority (NTA) has achieved 69 percent work progress in expansion of Broadband Internet across the country.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 26: Nepal Telecommunication Authority (NTA) has achieved 69 percent work progress in expansion of Broadband Internet across the country. The project has been launched by NTA with the aim of providing high speed broadband internet across the country, according to the state-run national news agency - RSS. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">NTA informed that 69.37 percent connection has been completed so far.&nbsp; RSS reports that the NTA has implemented the project of providing broadband internet service in 18 packages by utilizing the budget from the Rural Telecommunication Development Fund.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to RSS, NTA spokesperson Min Prasad Aryal informed that the connection has been completed in the selected places in 46 districts under 12 packages. According to him, out of 18 packages, internet connection has been completed in 11,086 places so far, including 506 local levels, 4,165 ward offices, 3,472 secondary schools and 2,943 health institutions.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">A report prepared by NTA states that service providers have been selected for the connectivity connection in 19 districts under the four packages while more than percent in nine districts under two packages.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, 4,896 internet connections are still pending. Similarly, NTA has informed that an agreement has been reached for network and connectivity connection in 19 districts under the four packages.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Major Indicators of Economy Positive: NRB Report',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">November 26: </span><span style="font-family:Arial">The major indicators of Nepal&rsquo;s economy are positive despite the impact of coronavirus. The country&rsquo;s foreign trade, remittance inflow, balance of payment are all improving, according to the latest report of Nepal Rastra Bank (NRB).</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:Arial">The Current Macroeconomic and Financial Situation of Nepal released by the central bank on Wednesday (November 25) shows that the flow of loan from banks and financial institutions (BFIs) to the private sector in the firs three months of the current fiscal year has increased by four percent. The flow of loan from BFI to the private sector during the corresponding period of last fiscal year had increased by 4.3 percent.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">In three months of 2020/21, merchandise exports increased14.3 percent to Rs.31.05 billion compared to an increase of 14.4 percent in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Destination-wise, exports to India and other countries increased 19.4 percent and 7.4 percent respectively whereas exports to China decreased 53.2 percent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">According to the report, exports of jute goods, polyster yarn and threads, noodles, cardamom, and pashmina among others increased whereas exports &nbsp;of palm oil, pulses, zinc sheet, handicrafts, and skin among others &nbsp;decreased in the review period. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">In three months of 2020/21, merchandise imports decreased 12.7 percent to Rs.292.27 billion compared to a decrease of 10.3 percent a year ago. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Destination-wise, imports from India, China and other countries decreased 6.6 percent, 26.9 percent, and 19.0 percent respectively. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The report states that imports of rice, crude soybean oil, telecommunication equipment and parts, edible oil, and coal among others increased, whereas imports of petroleum products, transport equipment and parts, aircraft spareparts, other machinery and parts, and crude palm oil among others decreased in the review period.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Total trade deficit narrowed down 15.1 percent to Rs.261.22 billion in three months of 2020/21. Such &nbsp;deficit had contracted 12.0 percent in the same period of the previous year. The export-import ratio increased to 10.6 percent in the review period from 8.1 percent in the same period of the previous year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Remittance inflows increased 12.6 percent to Rs.258.86 billion in the review period against a decrease of 5.1 percent in the same period of the previous year. In the US Dollar terms, remittance inflows increased 7.6 percent to 2.18 billion in the review period against a decrease of 4.7 percent in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The current account remained at a surplus of Rs.34.36 billion in the review period against a deficit of Rs 22.47 billion in the same period of the previous year. In the US Dollar terms, the </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">current account recorded a surplus of 288.2 million in the review period against a deficit of 198.4 million in the same period last year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Balance of Payments (BOP) registered a surplus of Rs.101.09 billion in the review period. Such surplus was Rs.14.43 billion in the same period of the previous year. In the US Dollar terms, the BOP recorded a surplus of 851.0 million in the review period compared to a surplus of 127.8 million in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The year-on-year consumer price inflation stood at 3.79 percent in the third month of 2020/21 compared to 6.21 percent a year ago. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Food and beverage inflation stood at 5.50percent whereas non-food and service inflation stood at 2.46 percent in the review month.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Nepal-China Joint Trade Task Force Unable to Hold Meeting More than Once',
			'sub_title' => '',
			'summary' => 'November 26: It has been more than one year since the governments of Nepal and China signed a Memorandum of Understanding (MoU) for bilateral trade but there has been no progress in implementing the agreement till date.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 26: It has been more than one year since the governments of Nepal and China signed a Memorandum of Understanding (MoU) for bilateral trade but there has been no progress in implementing the agreement 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:&quot;Bangla MN&quot;">The Nepal-China Joint Trade Task Force was formed after the visit of Chinese President Xi Jinping to Nepal in 2019 but the task force has organised meeting only once. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The task force was formed to resolve the problems related to bilateral trade and to increase the volume of trade between the two countries. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">During a virtual meeting of the task force held about two months ago, both sides had discussed about the problems in import and export of goods at the customs points and to operate transit route. However, the customs points have still not become fully operational. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The meeting had also discussed about Chinese investment in Nepal, informed Secretary Prakash Dahal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Government authorities informed that they are also in talks with the Chinese side regarding the implementation of the Trade and Transit Protocol signed with China. However, the task force has not been able to work effectively 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:&quot;Bangla MN&quot;">Nepal&rsquo;s export to China has come to a complete halt while import from China has also decreased significantly. Nepal is facing problems in bringing goods from Tatopani and Rasuwagadhi border points. Only three to four containers are entering Nepal from the border points on a daily basis. Authorities are holding discussions with Chinese embassy to resolve the problem.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal, however, has been exporting limited goods to China through the air route.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12718',
			'article_category_id' => '1',
			'title' => '54th AGM of FNCCI begins from Today',
			'sub_title' => '',
			'summary' => 'November 26: The 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry is being held for three days starting from today (November 26).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 26: The 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry is being held for three days starting from today (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:&quot;Bangla MN&quot;">The umbrella body of industries and enterprises of the country is scheduled to hold the inauguration ceremony as well as the closed session through Zoom meeting.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">As per the schedule, FNCCI will elect a new executive committee on Saturday (November 28) after the close session ends.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Shekhar Golchha is poised to lead the FNCCI for the next term in accordance to provision in statute of FNCCI which states that the senior vice president will become the president of FNCCI after completing his/her 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:&quot;Bangla MN&quot;">The Election Committee of FNCCI informed that there will be election for the other posts. Serving vice presidents of FNCCI Chandra Dhakal and Kishor Pradhan will be vying for the post of senior vice president during 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:&quot;Bangla MN&quot;">Other vice presidents Umesh Lal Shrestha and Anjan Shrestha will face each other for the post of vice president (commodities). Likewise, Ram Chandra Shanghai will vie for the post of vice president (associates) with Saurav Jyoti while Dinesh Shrestha and Guna Nidhi Tiwari will vie for the post of vice president (district/municipalities).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The FNCCI election will be held at three different locations this time due to the problem created by coronavirus. FNCCI is scheduled to hold the election at its head office in Teku, Karki Banquet in Babar Mahal and Nepal Academy Hall in Kamaladi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">FNCCI was supposed to hold the election and AGM in March but it had to be postponed time and again due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12716',
			'article_category_id' => '1',
			'title' => '‘Nepali Migrant Workers Travelling to Labour Destinations on Visit Visas’',
			'sub_title' => '',
			'summary' => 'November 25: Manpower companies have requested help from parliamentary committee after the country’s diplomatic missions did not show any interest to attest work permit for large number of Nepali migrant workers as per the demand from labour destination countries.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 25: Manpower companies have requested help from parliamentary committee after the country&rsquo;s diplomatic missions did not show any interest to attest work permit for large number of Nepali migrant workers as per the demand from labour destination countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They argued that the decision of Nepal&rsquo;s embassies based in Gulf countries not to approve the demand for labour has risked losing job opportunities. The manpower companies on Tuesday (November 24) urged the Industry, Labour and Consumer Welfare Committee of the House of Representative to take initiative to resolve this issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The manpower companies say that there is demand for more than 100,000 workers in Gulf countries but the diplomatic missions of Nepal in those countries have denied permission for work citing coronavirus pandemic. Representatives of the companies said during a meeting organized by the house panel that the country risks loosing hundreds of thousands of job opportunities due to the lacklusture approach of Nepal&rsquo;s embassies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to them, the demand for labour from countries like Qatar, Bahrain, Dubai among other Gulf countries have not been approved by the respective embassies of Nepal in those countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Secretary of Nepal Foreign Employment Agencies Association Sujit Kumar Shrestha warned that if the embassies do not approve the demand for labour then there is high possibility that the opportunities will be given to other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Gulf countries have placed huge demand for workers in the service sector, hospitals, hotel industry, super stores and construction projects. However, the labourers have been forced to travel to the Gulf countries in visit visas after the embassies did not approve the demand for labour.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of the Foreign Employment Association (Democratic) Narendra Prasad Dhakal says that youths are forced to travel to Gulf countries for work on visit visas although it is illegal because they have no other option at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He claimed that around 500 to 700 Nepalis leave for Gulf countries on visit visas everyday and there is a lot of under-table dealings going on at the Tribhuvan International Airport.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had lifted a ban on foreign employment on August 30 but the migrant workers are struggling to return to work because of the stance taken by Nepal&rsquo;s embassies.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12715',
			'article_category_id' => '1',
			'title' => 'Hydropower Projects Start Getting License Through Fast-Track Process',
			'sub_title' => '16 Hydropower Projects get Construction and Generation Permits ',
			'summary' => 'November 25: Sixteen hydropower projects have obtained construction and power generation licenses from the Department of Electricity Development in the first four months of the current Fiscal Year 2077/78. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 25: Sixteen hydropower projects have obtained construction and power generation licenses from the Department of Electricity Development in the first four months of the current Fiscal Year 2077/78. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the Department, 16 hydropower projects with capacity of more than 1 MW have been given permission for construction and generation of electricity. The total capacity of these projects is 379.51 MW. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Moreover, the license period of these projects is 35 years, ie till 2112 BS. After that, the projects will be owned by the Government of Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the corresponding period last year, only six projects had obtained construction permits. However, the number of projects that received the construction permits has increased in the current fiscal year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The department said that the number of projects receiving construction and power generation permits has increased due to the fast-track approach of the government. A senior official of the department informed that the applications for the license through fast track will not remain pending like before. He said that now the promoter companies have started getting licenses in a short time. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The biggest project to get construction permit is Tamor Mewa Hydropower Project. The project to be built in Taplejung has been allowed to generate 128 MW of electricity. Similarly, the second largest project is 86.59 MW Landruk and the third is 70 MW Dudhkoshi-2 Hydropower Project. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Among the projects that have been given permit for construction are 14.7 MW Mudi Khola, 13.42 MW Midim and 11.05 MW Sunigadh Hydropower Project. Other 10 projects have a capacity of less than 10 MW. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12714',
			'article_category_id' => '1',
			'title' => 'Tourism Entrepreneurs Decry 7-Day Quarantine Provision for Foreign Visitors',
			'sub_title' => '',
			'summary' => 'November 25: Stakeholders have expressed concern regarding the arrival of tourists despite government’s commitment to gradually reopen the tourism industry because of the mandatory provision of seven-day quarantine for foreign visitors.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 25: Stakeholders have expressed concern regarding the arrival of tourists despite government&rsquo;s commitment to gradually reopen the tourism industry because of the mandatory provision of seven-day quarantine for foreign visitors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had opened trekking and mountaineering for tourists from October 17 and had announced to gradually open other sectors from November 16.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The proposal of the Ministry of Culture, Tourism and Civil Aviation to reopen the tourism industry by strictly following health protocols is yet to be endorsed by the Council of Ministers. However, the government has gradually opened various pilgrimage sites including Lumbini, the birth place of Lord Buddha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tourism entrepreneurs say that domestic tourism is slowly reviving but the overall situation is still not encouraging, especially due to the seven-day quarantine provision for foreign tourists.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already announced on-arrival visas for tourists who visit Nepal in groups. However, such visitors have to mandatorily stay in quarantine for seven days in hotels. Because of this provision, tourists make enquiry but hesitate to visit Nepal says Binayak Shah, first vice president of Hotel Association of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shah complained that the tourism industry is facing problem because the government has not been able to take appropriate decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have proposed setting up PCR tests at the airport itself and requested the government to reduce the quarantine period to three days. However, the government neither sets up testing facility itself nor does it allows us to do so,&rdquo; complained Shah.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What is the benefit of opening the tourism industry in such a fashion?&rdquo; he questioned.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shah said that foreign tourists are not willing to risk their lives and come here unless the government announces health contingency plans and assures treatment facility for them.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of the Trekking Agencies Association of Nepal (TAAN) Khum Bahadur Subedi says that the government has turned a deaf ear to their repeated pleas in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are in favour of quick PCR tests for tourists for which the testing facility needs to be set up at the airport,&rdquo; he said, adding, &ldquo;The government needs to give guarantee to the tourists in case of emergency. Otherwise, no one is going to visit Nepal.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12713',
			'article_category_id' => '1',
			'title' => 'Corruption Remains a Major Problem in Asia: TI',
			'sub_title' => 'Survey finds nearly one in 5 Respondents paid a Bribe while Accessing Essential Services ',
			'summary' => '',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">November 25: A report released by Transparency International on Tuesday (November 24) reveals that citizens across 17 countries in Asia report stagnant or rising levels of corruption, undermining equitable access to public services and trust in government.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The report, Global Corruption Barometer &ndash; Asia, has found that three-quarters of respondents believe that government corruption is a big problem in their country, with nearly one in five people (19 per cent) paying a bribe when accessing public services in the previous year. This is equivalent to about 836 million people, TI said in a statement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The figure is more alarming in Nepal with 84 percent respondents accusing the government of corruption.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">In addition to bribery, the use of personal connections to access public services is also prevalent across Asia, the report states. The results found that more than one in five people (22 per cent) who accessed public services used their personal connections to receive the assistance they needed.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">When asked why, 24 percent of people who paid bribes said they were asked to do so, while 30 percent of people who used personal connections said they would not have received the service otherwise. This suggests that people are paying bribes to speed up essential services, highlighting red tape and inefficient bureaucracy, while pushing those without the means at their disposal to the back of the queue.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">Age is another important factor. Young people aged 18 to 34 are more likely to pay a bribe or use personal connections than any other age group.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The survey found corruption around elections is also prevalent. Nearly one in seven people were offered bribes in exchange for votes at a national, regional or local election in the past five years.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">&quot;Protecting the integrity of elections is critical to ensuring that corruption doesn&#39;t undermine democracy,&quot; said Delia Ferreira Rubio, chair of Transparency International. &quot;Throughout the region, election commissions and anti-corruption agencies need to work in lockstep to counter vote-buying, which weakens trust in government.&quot;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">Across Asia, more than three out of four people (76 per cent) are familiar with the anti-corruption agency in their country, of which, 63 per cent think that the agency is doing a good job.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">In addition, people across the region are hopeful about the future of anti-corruption. More than three in five (62 per cent) think that ordinary people can make a difference in the fight against corruption.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12712',
			'article_category_id' => '1',
			'title' => 'CCMC Decides to Increase International Flights',
			'sub_title' => '',
			'summary' => 'November 25: The government has decided to operate additional flights to foreign destinations. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">November 25: The government has decided to operate additional flights to foreign destinations. The Covid-19 Crisis Management Centre (CCMC) has decided to issue flight permits to all countries after evaluating the risk of coronavirus in the international flight destinations.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">A CCMC meeting held on Tuesday (November 24) decided to open flights to other countries besides the current destinations as per the requirement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">Secretary at the Office of the Prime Minister and Council of Ministers Mahendra Prasad Guragain informed that the CCMC has agreed to open regular flights to other destinations as per the requirement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">Secretary Guragain informed that the CCMC did not take any decision on the recommendation of the Mayors&rsquo; Forum to impose lockdown in Kathmandu Valley for three weeks due to rising threat of infection here. He said that the CCMC discussed about the possibility of sealing certain areas with high risk of infection so that other services are not disrupted.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">The CCMC also instructed the government not to shut down an entire office just because of few employees getting infected with coronavirus. Guragain said that the CCMC has instructed government offices to remain open by sending the infected staffers to isolation.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12459',
			'image' => '20201125112531_20190904020627_Nepal-Airlines-landing.jpg',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12710',
			'article_category_id' => '1',
			'title' => 'NCHL Working to Ensure Inter-Bank Card Settlement under the National Payment Switch',
			'sub_title' => '',
			'summary' => 'November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NCHL informed that it is making necessary preparations for inter-bank card settlement in the first phase.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company said that it is currently conducting study for developing the National Payment Switch but hasn&rsquo;t started technical works yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of NCHL Nilesn Man Singh Pradhan informed New Business Age that they are currently studying the modus operandi of the national payment switches of neighbouring countries like India, Sri Lanka and Bangladesh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;After the study is complete, we will develop a national payment switch which is best suited for Nepal considering the technological advancement of the country and the requirement of businesses and volume of transaction,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We don&rsquo;t have transactions as big as that of India. So we will use a system that is suitable for us,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Pradhan said that the project is one of the big projects of the country and cannot specifically say when it will be completed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He argues that such switch is categorized under long-term projects in foreign countries. Pradhan added that they will first identify the components which they require urgently and work towards setting them up in phase-wise 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:&quot;Arial Unicode MS&quot;">&ldquo;In the first phase, we will ensure inter-bank card settlement,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At present, the central bank has instructed commercial banks not to charge customers for inter-bank ATM transaction. As Nepal does not have its own payment switch, the banks have been forced &nbsp;pay a minimum of Rs 12 for such transaction to foreign developers. BFIs have been paying hefty amount to international payment gateways like Visa and Master Card because the country lacks its own national payment gateway.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks of Nepal have been making payment for transactions through debit and credit cards by using payment switches of foreign countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The country has been spending lots of money to foreign banks for the payments made through point of sales machines placed at shopping malls across the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In this context, a national payment switch is expected to reduce the cost of the banks to a great extent.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12709',
			'article_category_id' => '1',
			'title' => 'Finance Minister warns of Action against Govt Staffers if they Fail to Meet Revenue Target ',
			'sub_title' => '',
			'summary' => 'November 24: Finance minister Bishnu Prasad Poudel has warned government  employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 24: Finance minister Bishnu Prasad Poudel has warned government &nbsp;employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. He also said that the employees who achieve the target will be rewarded. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Speaking with the finance secretary, director general of Inland Revenue Department and customs department on Monday, he directed the officials to perform their work to meet the aim despite facing the challenges created by covid-19.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Out of the target of 25 percent revenue collection in the first four months of the current fiscal year, the government was able to collect 24 percent revenue. According to the Ministry of Finance, Rs 240.15 billion revenue has been collected in the first four months. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The finance minister gave such directive after failing to meet the revenue target in the first four months. Explaining that the employees should not be pressurized to work with fear and intimidation, he stressed on creating favorable working conditions with respect to qualifications and abilities.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;&ldquo;The ministry provides support, facilitation and encouragement to solve difficulties and problems. If the goal is achieved, we respect it. If not, you should be punished,&rdquo; he said. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12708',
			'article_category_id' => '1',
			'title' => 'State-Owned Company to Extract Iron Using Locally Available Resources in Nawalparasi',
			'sub_title' => '',
			'summary' => 'November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A report prepared after sending samples of raw materials extracted from the mine to China for studying the prospects of commercial extraction has suggested using electric furnace for extracting&nbsp; iron.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report suggested using electric furnace considering the utilization of electricity produced in the country. It is also possible to refine iron by using coal but it would incur additional cost to import coal. Therefore, the state-owned company is preparing to use electric furnace for extraction and refining of iron from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of the company Krishna Dev Jha informed that China provided them the report about two weeks ago. Jha said that they will opt for electric furnace as per the recommendation of the report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We will utilize the resources available in the country and rely less on imported products for extracting iron,&rdquo; said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company is preparing to start the drilling process within the next two weeks (by mid-December) as it has already received the report. It has already selected a consulting firm for the purpose from within the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The consulting company will drill between 265 meters to 300 meters in five areas of Dhaubadhi and Pokhari where the mine is located. The quantity of iron which can be extracted from the mine will be ascertained after drilling.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the company is also preparing to select international consultant company by issuing a public notice for conducting feasibility study and to prepare the detailed project report (DPR).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will begin commercial production of iron only after completing all of the above mentioned processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Jha informed that the company is preparing to set up a steel plant in Kawasoti of Nawalparasi district. They have already started acquiring 150 bigha land for setting up the factory, according to Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He further informed that 1,500 metric tons of iron can be produced on a daily basis after the company starts production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government had been announcing financial support for the mine since the last few years, it could not be implemented as the report was yet to arrive from China.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has received Rs 250 million during the last fiscal&nbsp; year while the government has allocated Rs 1.5 billion this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has been looking after the financial matters of the company which has been set up with a total capital of Rs 10 billion. The private sector has 45 percent stakes at the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company was set up in public private partnership model after the government on August 20 decided to open a company specifically for extraction of mines.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12707',
			'article_category_id' => '1',
			'title' => 'Sugar Mills Preparing to Sell Electricity from this Season',
			'sub_title' => '',
			'summary' => 'November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. Everest Sugar Mills of Mahottari, Indu Shankar Sugar Mills of Sarlahi and Reliance Sugar Mills of Bara are making necessary preparations to sell the electricity that they produce themselves from the waste product of sugarcane. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Nepal Sugar Producers Association Sashikanta Agrawal said that they are preparing to sell electricity from this winter season when the government faces shortage of electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugar mills are planning to sell 7 megawatts of electricity this season. Agrawal says that they are in the final phase of preparation for selling the electricity which they produce from biomass. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have already made preparations to connect the transmission line from the mills to the nearest sub-station,&rdquo; said Agrawal, who is the proprietor of Everest Sugar Mills. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Altogether three sugar mills are in a position to sell a total of 7 megawatts of electricity from this season,&rdquo; he added.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indu Shankar and Everest sugar mills have already taken permission from the Department of Electricity Development to produce 3 megawatts of electricity each. They have also signed an agreement with the NEA to purchase or sell electricity at the &ldquo;posted rate&rdquo; of Rs 8.4 per unit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, Reliance Sugar Mills, which has taken permission from the board to survey the possibility of producing 10 megawatts of electricity, is also preparing to sell excess of electricity from this season. The company, however, is yet to acquire license, informed Director General of the department Navin Raj Singh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugar mills will be operational within a month. Operators of the mills say they will be in a position to sell electricity as soon as they start producing sugar. NEA says that it can purchase electricity from sugar mills with whom it has signed power purchase agreements (PPA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sugar mills normally operate during the winter season from mid-December to mid-April. The electricity produced by sugar mills by burning biomass is considered of great significance, especially because the production of hydroelectricity is reduced to a great extent during winter season.</span></span></span></span></p>
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			'article_category_id' => '1',
			'title' => 'Nepal’s Bilateral Trade with China Shrinks by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'November 24: The government’s inability to fully operate Nepal’s customs points in the northern border is taking toll on trade between Nepal and China. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: The government&rsquo;s inability to fully operate Nepal&rsquo;s customs points in the northern border is taking toll on trade between Nepal and China. The disruption in movement of goods from the border points since late January has reduced the volume of trade with China, which is Nepal&rsquo;s second largest trade partner.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data made public by the Department of Customs, Nepal&rsquo;s bilateral trade with China declined by Rs 20 billion in the first four months of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that the volume of bilateral trade with China during the review period was worth Rs 60.41 billion. Nepal&rsquo;s trade with China during the same period of last fiscal year was of Rs 80.89 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Both export and import with China had increased since the 2015 earthquake but the figures took a nosedive since coronavirus started spreading from China late last year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the review period of last fiscal year, Nepal exported goods worth Rs 710 million to China while it imported goods worth Rs 80.18 billion from the northern neighbor. This year, the import has been limited to Rs 60.12 billion while Nepal&rsquo;s export has also dropped to 209 million.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border transit points with China that were closed since January are yet to fully reopen. Only the Tatopani and Rasuwagadhi customs points are partially operational.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Hundreds of containers used to enter Nepal on a daily basis prior to the emergence of coronavirus. The entry of containers has dropped to hardly five per day at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s trade with&nbsp; China has been badly affected because Nepali containers are not allowed to go across the border to bring back goods, says Bachhu Poudel, chairman of Nepal Trans-Himalayan Border Commerce Association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border which was completely closed in late January was brought into operation in May, according to the government. But the customs points have not become fully operational till date, says Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Hundreds of containers used to enter Nepal every day in the past but hardly five of them enter the country these days,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Customs informed that Nepal&rsquo;s overall foreign trade is returning back to normalcy although the customs points with China remain affected.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the department, the country has imported goods worth Rs 402 billion in the first four months of the current fiscal year, which&nbsp; is less than that of the last fiscal&nbsp; year by only ten percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Customs Suman Dahal says that Nepal&rsquo;s foreign trade must be considered satisfactory because the government has adopted a policy of increasing exports and reducing imports.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12705',
			'article_category_id' => '1',
			'title' => 'Profit of Development Banks Shrinks by 25 Percent ',
			'sub_title' => '',
			'summary' => 'November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks. Out of 18 development banks, the net profit growth rate of seven development banks in the first quarter of the current fiscal year has been negative as compared to the previous fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the financial report of the first quarter made public by all the development banks, the total net profit till September was Rs 902.7 million while they made a profit of Rs 1.20 billion in the previous fiscal year. Compared to last year, the total net profit growth rate of development banks has shrunk by 25 percent. Three development banks have incurred net losses while the distributable profits of seven banks have turned negative.</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:Calibri">As the profit growth rate of Jyoti, Garima, Exel, Shangrila, Shine Resunga, Corporate, and Karnali Development Bank has been lower than last year, the overall net profit of the development banks has shrunk by about 26 percent. Despite the overall contraction in the bank&#39;s profit, the profit growth rate of the remaining 11 development banks are encouraging.</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:Calibri">Meanwhile, Muktinath Development Bank has made the highest profit among the development banks. The bank has managed to earn a net profit of Rs 294.159 million in the first quarter. In the corresponding period of the previous year, it earned a profit of Rs 228.7 million. Compared to last year, the bank&#39;s profit has increased by 22.23 percent. The distributable profit of the bank is Rs. 152.1 million. </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:Calibri">Pradyumna Pokharel, CEO of Muktinath Development Bank, informed that the bank has managed to earn net profit due to the increase in interest income.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12721',
			'article_category_id' => '1',
			'title' => 'NTA Achieves 69 Percent Work Progress in Expansion of Broadband Internet ',
			'sub_title' => '',
			'summary' => 'November 26: Nepal Telecommunication Authority (NTA) has achieved 69 percent work progress in expansion of Broadband Internet across the country.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 26: Nepal Telecommunication Authority (NTA) has achieved 69 percent work progress in expansion of Broadband Internet across the country. The project has been launched by NTA with the aim of providing high speed broadband internet across the country, according to the state-run national news agency - RSS. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">NTA informed that 69.37 percent connection has been completed so far.&nbsp; RSS reports that the NTA has implemented the project of providing broadband internet service in 18 packages by utilizing the budget from the Rural Telecommunication Development Fund.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to RSS, NTA spokesperson Min Prasad Aryal informed that the connection has been completed in the selected places in 46 districts under 12 packages. According to him, out of 18 packages, internet connection has been completed in 11,086 places so far, including 506 local levels, 4,165 ward offices, 3,472 secondary schools and 2,943 health institutions.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">A report prepared by NTA states that service providers have been selected for the connectivity connection in 19 districts under the four packages while more than percent in nine districts under two packages.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, 4,896 internet connections are still pending. Similarly, NTA has informed that an agreement has been reached for network and connectivity connection in 19 districts under the four packages.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Major Indicators of Economy Positive: NRB Report',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">November 26: </span><span style="font-family:Arial">The major indicators of Nepal&rsquo;s economy are positive despite the impact of coronavirus. The country&rsquo;s foreign trade, remittance inflow, balance of payment are all improving, according to the latest report of Nepal Rastra Bank (NRB).</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:Arial">The Current Macroeconomic and Financial Situation of Nepal released by the central bank on Wednesday (November 25) shows that the flow of loan from banks and financial institutions (BFIs) to the private sector in the firs three months of the current fiscal year has increased by four percent. The flow of loan from BFI to the private sector during the corresponding period of last fiscal year had increased by 4.3 percent.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">In three months of 2020/21, merchandise exports increased14.3 percent to Rs.31.05 billion compared to an increase of 14.4 percent in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Destination-wise, exports to India and other countries increased 19.4 percent and 7.4 percent respectively whereas exports to China decreased 53.2 percent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">According to the report, exports of jute goods, polyster yarn and threads, noodles, cardamom, and pashmina among others increased whereas exports &nbsp;of palm oil, pulses, zinc sheet, handicrafts, and skin among others &nbsp;decreased in the review period. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">In three months of 2020/21, merchandise imports decreased 12.7 percent to Rs.292.27 billion compared to a decrease of 10.3 percent a year ago. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Destination-wise, imports from India, China and other countries decreased 6.6 percent, 26.9 percent, and 19.0 percent respectively. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The report states that imports of rice, crude soybean oil, telecommunication equipment and parts, edible oil, and coal among others increased, whereas imports of petroleum products, transport equipment and parts, aircraft spareparts, other machinery and parts, and crude palm oil among others decreased in the review period.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Total trade deficit narrowed down 15.1 percent to Rs.261.22 billion in three months of 2020/21. Such &nbsp;deficit had contracted 12.0 percent in the same period of the previous year. The export-import ratio increased to 10.6 percent in the review period from 8.1 percent in the same period of the previous year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Remittance inflows increased 12.6 percent to Rs.258.86 billion in the review period against a decrease of 5.1 percent in the same period of the previous year. In the US Dollar terms, remittance inflows increased 7.6 percent to 2.18 billion in the review period against a decrease of 4.7 percent in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The current account remained at a surplus of Rs.34.36 billion in the review period against a deficit of Rs 22.47 billion in the same period of the previous year. In the US Dollar terms, the </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">current account recorded a surplus of 288.2 million in the review period against a deficit of 198.4 million in the same period last year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Balance of Payments (BOP) registered a surplus of Rs.101.09 billion in the review period. Such surplus was Rs.14.43 billion in the same period of the previous year. In the US Dollar terms, the BOP recorded a surplus of 851.0 million in the review period compared to a surplus of 127.8 million in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The year-on-year consumer price inflation stood at 3.79 percent in the third month of 2020/21 compared to 6.21 percent a year ago. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Food and beverage inflation stood at 5.50percent whereas non-food and service inflation stood at 2.46 percent in the review month.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 2 => array(
		'Article' => array(
			'id' => '12719',
			'article_category_id' => '1',
			'title' => 'Nepal-China Joint Trade Task Force Unable to Hold Meeting More than Once',
			'sub_title' => '',
			'summary' => 'November 26: It has been more than one year since the governments of Nepal and China signed a Memorandum of Understanding (MoU) for bilateral trade but there has been no progress in implementing the agreement till date.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 26: It has been more than one year since the governments of Nepal and China signed a Memorandum of Understanding (MoU) for bilateral trade but there has been no progress in implementing the agreement 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:&quot;Bangla MN&quot;">The Nepal-China Joint Trade Task Force was formed after the visit of Chinese President Xi Jinping to Nepal in 2019 but the task force has organised meeting only once. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The task force was formed to resolve the problems related to bilateral trade and to increase the volume of trade between the two countries. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">During a virtual meeting of the task force held about two months ago, both sides had discussed about the problems in import and export of goods at the customs points and to operate transit route. However, the customs points have still not become fully operational. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The meeting had also discussed about Chinese investment in Nepal, informed Secretary Prakash Dahal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Government authorities informed that they are also in talks with the Chinese side regarding the implementation of the Trade and Transit Protocol signed with China. However, the task force has not been able to work effectively 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:&quot;Bangla MN&quot;">Nepal&rsquo;s export to China has come to a complete halt while import from China has also decreased significantly. Nepal is facing problems in bringing goods from Tatopani and Rasuwagadhi border points. Only three to four containers are entering Nepal from the border points on a daily basis. Authorities are holding discussions with Chinese embassy to resolve the problem.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal, however, has been exporting limited goods to China through the air route.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12718',
			'article_category_id' => '1',
			'title' => '54th AGM of FNCCI begins from Today',
			'sub_title' => '',
			'summary' => 'November 26: The 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry is being held for three days starting from today (November 26).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 26: The 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry is being held for three days starting from today (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:&quot;Bangla MN&quot;">The umbrella body of industries and enterprises of the country is scheduled to hold the inauguration ceremony as well as the closed session through Zoom meeting.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">As per the schedule, FNCCI will elect a new executive committee on Saturday (November 28) after the close session ends.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Shekhar Golchha is poised to lead the FNCCI for the next term in accordance to provision in statute of FNCCI which states that the senior vice president will become the president of FNCCI after completing his/her 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:&quot;Bangla MN&quot;">The Election Committee of FNCCI informed that there will be election for the other posts. Serving vice presidents of FNCCI Chandra Dhakal and Kishor Pradhan will be vying for the post of senior vice president during 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:&quot;Bangla MN&quot;">Other vice presidents Umesh Lal Shrestha and Anjan Shrestha will face each other for the post of vice president (commodities). Likewise, Ram Chandra Shanghai will vie for the post of vice president (associates) with Saurav Jyoti while Dinesh Shrestha and Guna Nidhi Tiwari will vie for the post of vice president (district/municipalities).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The FNCCI election will be held at three different locations this time due to the problem created by coronavirus. FNCCI is scheduled to hold the election at its head office in Teku, Karki Banquet in Babar Mahal and Nepal Academy Hall in Kamaladi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">FNCCI was supposed to hold the election and AGM in March but it had to be postponed time and again due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12716',
			'article_category_id' => '1',
			'title' => '‘Nepali Migrant Workers Travelling to Labour Destinations on Visit Visas’',
			'sub_title' => '',
			'summary' => 'November 25: Manpower companies have requested help from parliamentary committee after the country’s diplomatic missions did not show any interest to attest work permit for large number of Nepali migrant workers as per the demand from labour destination countries.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 25: Manpower companies have requested help from parliamentary committee after the country&rsquo;s diplomatic missions did not show any interest to attest work permit for large number of Nepali migrant workers as per the demand from labour destination countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They argued that the decision of Nepal&rsquo;s embassies based in Gulf countries not to approve the demand for labour has risked losing job opportunities. The manpower companies on Tuesday (November 24) urged the Industry, Labour and Consumer Welfare Committee of the House of Representative to take initiative to resolve this issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The manpower companies say that there is demand for more than 100,000 workers in Gulf countries but the diplomatic missions of Nepal in those countries have denied permission for work citing coronavirus pandemic. Representatives of the companies said during a meeting organized by the house panel that the country risks loosing hundreds of thousands of job opportunities due to the lacklusture approach of Nepal&rsquo;s embassies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to them, the demand for labour from countries like Qatar, Bahrain, Dubai among other Gulf countries have not been approved by the respective embassies of Nepal in those countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Secretary of Nepal Foreign Employment Agencies Association Sujit Kumar Shrestha warned that if the embassies do not approve the demand for labour then there is high possibility that the opportunities will be given to other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Gulf countries have placed huge demand for workers in the service sector, hospitals, hotel industry, super stores and construction projects. However, the labourers have been forced to travel to the Gulf countries in visit visas after the embassies did not approve the demand for labour.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of the Foreign Employment Association (Democratic) Narendra Prasad Dhakal says that youths are forced to travel to Gulf countries for work on visit visas although it is illegal because they have no other option at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He claimed that around 500 to 700 Nepalis leave for Gulf countries on visit visas everyday and there is a lot of under-table dealings going on at the Tribhuvan International Airport.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had lifted a ban on foreign employment on August 30 but the migrant workers are struggling to return to work because of the stance taken by Nepal&rsquo;s embassies.</span></span></span></span></p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '12715',
			'article_category_id' => '1',
			'title' => 'Hydropower Projects Start Getting License Through Fast-Track Process',
			'sub_title' => '16 Hydropower Projects get Construction and Generation Permits ',
			'summary' => 'November 25: Sixteen hydropower projects have obtained construction and power generation licenses from the Department of Electricity Development in the first four months of the current Fiscal Year 2077/78. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 25: Sixteen hydropower projects have obtained construction and power generation licenses from the Department of Electricity Development in the first four months of the current Fiscal Year 2077/78. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the Department, 16 hydropower projects with capacity of more than 1 MW have been given permission for construction and generation of electricity. The total capacity of these projects is 379.51 MW. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Moreover, the license period of these projects is 35 years, ie till 2112 BS. After that, the projects will be owned by the Government of Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the corresponding period last year, only six projects had obtained construction permits. However, the number of projects that received the construction permits has increased in the current fiscal year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The department said that the number of projects receiving construction and power generation permits has increased due to the fast-track approach of the government. A senior official of the department informed that the applications for the license through fast track will not remain pending like before. He said that now the promoter companies have started getting licenses in a short time. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The biggest project to get construction permit is Tamor Mewa Hydropower Project. The project to be built in Taplejung has been allowed to generate 128 MW of electricity. Similarly, the second largest project is 86.59 MW Landruk and the third is 70 MW Dudhkoshi-2 Hydropower Project. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Among the projects that have been given permit for construction are 14.7 MW Mudi Khola, 13.42 MW Midim and 11.05 MW Sunigadh Hydropower Project. Other 10 projects have a capacity of less than 10 MW. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12714',
			'article_category_id' => '1',
			'title' => 'Tourism Entrepreneurs Decry 7-Day Quarantine Provision for Foreign Visitors',
			'sub_title' => '',
			'summary' => 'November 25: Stakeholders have expressed concern regarding the arrival of tourists despite government’s commitment to gradually reopen the tourism industry because of the mandatory provision of seven-day quarantine for foreign visitors.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 25: Stakeholders have expressed concern regarding the arrival of tourists despite government&rsquo;s commitment to gradually reopen the tourism industry because of the mandatory provision of seven-day quarantine for foreign visitors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had opened trekking and mountaineering for tourists from October 17 and had announced to gradually open other sectors from November 16.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The proposal of the Ministry of Culture, Tourism and Civil Aviation to reopen the tourism industry by strictly following health protocols is yet to be endorsed by the Council of Ministers. However, the government has gradually opened various pilgrimage sites including Lumbini, the birth place of Lord Buddha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tourism entrepreneurs say that domestic tourism is slowly reviving but the overall situation is still not encouraging, especially due to the seven-day quarantine provision for foreign tourists.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already announced on-arrival visas for tourists who visit Nepal in groups. However, such visitors have to mandatorily stay in quarantine for seven days in hotels. Because of this provision, tourists make enquiry but hesitate to visit Nepal says Binayak Shah, first vice president of Hotel Association of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shah complained that the tourism industry is facing problem because the government has not been able to take appropriate decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have proposed setting up PCR tests at the airport itself and requested the government to reduce the quarantine period to three days. However, the government neither sets up testing facility itself nor does it allows us to do so,&rdquo; complained Shah.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What is the benefit of opening the tourism industry in such a fashion?&rdquo; he questioned.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shah said that foreign tourists are not willing to risk their lives and come here unless the government announces health contingency plans and assures treatment facility for them.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of the Trekking Agencies Association of Nepal (TAAN) Khum Bahadur Subedi says that the government has turned a deaf ear to their repeated pleas in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are in favour of quick PCR tests for tourists for which the testing facility needs to be set up at the airport,&rdquo; he said, adding, &ldquo;The government needs to give guarantee to the tourists in case of emergency. Otherwise, no one is going to visit Nepal.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12713',
			'article_category_id' => '1',
			'title' => 'Corruption Remains a Major Problem in Asia: TI',
			'sub_title' => 'Survey finds nearly one in 5 Respondents paid a Bribe while Accessing Essential Services ',
			'summary' => '',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">November 25: A report released by Transparency International on Tuesday (November 24) reveals that citizens across 17 countries in Asia report stagnant or rising levels of corruption, undermining equitable access to public services and trust in government.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The report, Global Corruption Barometer &ndash; Asia, has found that three-quarters of respondents believe that government corruption is a big problem in their country, with nearly one in five people (19 per cent) paying a bribe when accessing public services in the previous year. This is equivalent to about 836 million people, TI said in a statement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The figure is more alarming in Nepal with 84 percent respondents accusing the government of corruption.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">In addition to bribery, the use of personal connections to access public services is also prevalent across Asia, the report states. The results found that more than one in five people (22 per cent) who accessed public services used their personal connections to receive the assistance they needed.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">When asked why, 24 percent of people who paid bribes said they were asked to do so, while 30 percent of people who used personal connections said they would not have received the service otherwise. This suggests that people are paying bribes to speed up essential services, highlighting red tape and inefficient bureaucracy, while pushing those without the means at their disposal to the back of the queue.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">Age is another important factor. Young people aged 18 to 34 are more likely to pay a bribe or use personal connections than any other age group.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The survey found corruption around elections is also prevalent. Nearly one in seven people were offered bribes in exchange for votes at a national, regional or local election in the past five years.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">&quot;Protecting the integrity of elections is critical to ensuring that corruption doesn&#39;t undermine democracy,&quot; said Delia Ferreira Rubio, chair of Transparency International. &quot;Throughout the region, election commissions and anti-corruption agencies need to work in lockstep to counter vote-buying, which weakens trust in government.&quot;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">Across Asia, more than three out of four people (76 per cent) are familiar with the anti-corruption agency in their country, of which, 63 per cent think that the agency is doing a good job.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">In addition, people across the region are hopeful about the future of anti-corruption. More than three in five (62 per cent) think that ordinary people can make a difference in the fight against corruption.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12712',
			'article_category_id' => '1',
			'title' => 'CCMC Decides to Increase International Flights',
			'sub_title' => '',
			'summary' => 'November 25: The government has decided to operate additional flights to foreign destinations. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">November 25: The government has decided to operate additional flights to foreign destinations. The Covid-19 Crisis Management Centre (CCMC) has decided to issue flight permits to all countries after evaluating the risk of coronavirus in the international flight destinations.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">A CCMC meeting held on Tuesday (November 24) decided to open flights to other countries besides the current destinations as per the requirement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">Secretary at the Office of the Prime Minister and Council of Ministers Mahendra Prasad Guragain informed that the CCMC has agreed to open regular flights to other destinations as per the requirement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">Secretary Guragain informed that the CCMC did not take any decision on the recommendation of the Mayors&rsquo; Forum to impose lockdown in Kathmandu Valley for three weeks due to rising threat of infection here. He said that the CCMC discussed about the possibility of sealing certain areas with high risk of infection so that other services are not disrupted.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">The CCMC also instructed the government not to shut down an entire office just because of few employees getting infected with coronavirus. Guragain said that the CCMC has instructed government offices to remain open by sending the infected staffers to isolation.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'description' => '',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12710',
			'article_category_id' => '1',
			'title' => 'NCHL Working to Ensure Inter-Bank Card Settlement under the National Payment Switch',
			'sub_title' => '',
			'summary' => 'November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NCHL informed that it is making necessary preparations for inter-bank card settlement in the first phase.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company said that it is currently conducting study for developing the National Payment Switch but hasn&rsquo;t started technical works yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of NCHL Nilesn Man Singh Pradhan informed New Business Age that they are currently studying the modus operandi of the national payment switches of neighbouring countries like India, Sri Lanka and Bangladesh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;After the study is complete, we will develop a national payment switch which is best suited for Nepal considering the technological advancement of the country and the requirement of businesses and volume of transaction,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We don&rsquo;t have transactions as big as that of India. So we will use a system that is suitable for us,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Pradhan said that the project is one of the big projects of the country and cannot specifically say when it will be completed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He argues that such switch is categorized under long-term projects in foreign countries. Pradhan added that they will first identify the components which they require urgently and work towards setting them up in phase-wise 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:&quot;Arial Unicode MS&quot;">&ldquo;In the first phase, we will ensure inter-bank card settlement,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At present, the central bank has instructed commercial banks not to charge customers for inter-bank ATM transaction. As Nepal does not have its own payment switch, the banks have been forced &nbsp;pay a minimum of Rs 12 for such transaction to foreign developers. BFIs have been paying hefty amount to international payment gateways like Visa and Master Card because the country lacks its own national payment gateway.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks of Nepal have been making payment for transactions through debit and credit cards by using payment switches of foreign countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The country has been spending lots of money to foreign banks for the payments made through point of sales machines placed at shopping malls across the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In this context, a national payment switch is expected to reduce the cost of the banks to a great extent.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12709',
			'article_category_id' => '1',
			'title' => 'Finance Minister warns of Action against Govt Staffers if they Fail to Meet Revenue Target ',
			'sub_title' => '',
			'summary' => 'November 24: Finance minister Bishnu Prasad Poudel has warned government  employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 24: Finance minister Bishnu Prasad Poudel has warned government &nbsp;employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. He also said that the employees who achieve the target will be rewarded. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Speaking with the finance secretary, director general of Inland Revenue Department and customs department on Monday, he directed the officials to perform their work to meet the aim despite facing the challenges created by covid-19.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Out of the target of 25 percent revenue collection in the first four months of the current fiscal year, the government was able to collect 24 percent revenue. According to the Ministry of Finance, Rs 240.15 billion revenue has been collected in the first four months. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The finance minister gave such directive after failing to meet the revenue target in the first four months. Explaining that the employees should not be pressurized to work with fear and intimidation, he stressed on creating favorable working conditions with respect to qualifications and abilities.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;&ldquo;The ministry provides support, facilitation and encouragement to solve difficulties and problems. If the goal is achieved, we respect it. If not, you should be punished,&rdquo; he said. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12708',
			'article_category_id' => '1',
			'title' => 'State-Owned Company to Extract Iron Using Locally Available Resources in Nawalparasi',
			'sub_title' => '',
			'summary' => 'November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A report prepared after sending samples of raw materials extracted from the mine to China for studying the prospects of commercial extraction has suggested using electric furnace for extracting&nbsp; iron.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report suggested using electric furnace considering the utilization of electricity produced in the country. It is also possible to refine iron by using coal but it would incur additional cost to import coal. Therefore, the state-owned company is preparing to use electric furnace for extraction and refining of iron from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of the company Krishna Dev Jha informed that China provided them the report about two weeks ago. Jha said that they will opt for electric furnace as per the recommendation of the report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We will utilize the resources available in the country and rely less on imported products for extracting iron,&rdquo; said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company is preparing to start the drilling process within the next two weeks (by mid-December) as it has already received the report. It has already selected a consulting firm for the purpose from within the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The consulting company will drill between 265 meters to 300 meters in five areas of Dhaubadhi and Pokhari where the mine is located. The quantity of iron which can be extracted from the mine will be ascertained after drilling.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the company is also preparing to select international consultant company by issuing a public notice for conducting feasibility study and to prepare the detailed project report (DPR).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will begin commercial production of iron only after completing all of the above mentioned processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Jha informed that the company is preparing to set up a steel plant in Kawasoti of Nawalparasi district. They have already started acquiring 150 bigha land for setting up the factory, according to Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He further informed that 1,500 metric tons of iron can be produced on a daily basis after the company starts production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government had been announcing financial support for the mine since the last few years, it could not be implemented as the report was yet to arrive from China.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has received Rs 250 million during the last fiscal&nbsp; year while the government has allocated Rs 1.5 billion this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has been looking after the financial matters of the company which has been set up with a total capital of Rs 10 billion. The private sector has 45 percent stakes at the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company was set up in public private partnership model after the government on August 20 decided to open a company specifically for extraction of mines.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12707',
			'article_category_id' => '1',
			'title' => 'Sugar Mills Preparing to Sell Electricity from this Season',
			'sub_title' => '',
			'summary' => 'November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. Everest Sugar Mills of Mahottari, Indu Shankar Sugar Mills of Sarlahi and Reliance Sugar Mills of Bara are making necessary preparations to sell the electricity that they produce themselves from the waste product of sugarcane. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Nepal Sugar Producers Association Sashikanta Agrawal said that they are preparing to sell electricity from this winter season when the government faces shortage of electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugar mills are planning to sell 7 megawatts of electricity this season. Agrawal says that they are in the final phase of preparation for selling the electricity which they produce from biomass. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have already made preparations to connect the transmission line from the mills to the nearest sub-station,&rdquo; said Agrawal, who is the proprietor of Everest Sugar Mills. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Altogether three sugar mills are in a position to sell a total of 7 megawatts of electricity from this season,&rdquo; he added.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indu Shankar and Everest sugar mills have already taken permission from the Department of Electricity Development to produce 3 megawatts of electricity each. They have also signed an agreement with the NEA to purchase or sell electricity at the &ldquo;posted rate&rdquo; of Rs 8.4 per unit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, Reliance Sugar Mills, which has taken permission from the board to survey the possibility of producing 10 megawatts of electricity, is also preparing to sell excess of electricity from this season. The company, however, is yet to acquire license, informed Director General of the department Navin Raj Singh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugar mills will be operational within a month. Operators of the mills say they will be in a position to sell electricity as soon as they start producing sugar. NEA says that it can purchase electricity from sugar mills with whom it has signed power purchase agreements (PPA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sugar mills normally operate during the winter season from mid-December to mid-April. The electricity produced by sugar mills by burning biomass is considered of great significance, especially because the production of hydroelectricity is reduced to a great extent during winter season.</span></span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12706',
			'article_category_id' => '1',
			'title' => 'Nepal’s Bilateral Trade with China Shrinks by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'November 24: The government’s inability to fully operate Nepal’s customs points in the northern border is taking toll on trade between Nepal and China. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: The government&rsquo;s inability to fully operate Nepal&rsquo;s customs points in the northern border is taking toll on trade between Nepal and China. The disruption in movement of goods from the border points since late January has reduced the volume of trade with China, which is Nepal&rsquo;s second largest trade partner.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data made public by the Department of Customs, Nepal&rsquo;s bilateral trade with China declined by Rs 20 billion in the first four months of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that the volume of bilateral trade with China during the review period was worth Rs 60.41 billion. Nepal&rsquo;s trade with China during the same period of last fiscal year was of Rs 80.89 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Both export and import with China had increased since the 2015 earthquake but the figures took a nosedive since coronavirus started spreading from China late last year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the review period of last fiscal year, Nepal exported goods worth Rs 710 million to China while it imported goods worth Rs 80.18 billion from the northern neighbor. This year, the import has been limited to Rs 60.12 billion while Nepal&rsquo;s export has also dropped to 209 million.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border transit points with China that were closed since January are yet to fully reopen. Only the Tatopani and Rasuwagadhi customs points are partially operational.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Hundreds of containers used to enter Nepal on a daily basis prior to the emergence of coronavirus. The entry of containers has dropped to hardly five per day at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s trade with&nbsp; China has been badly affected because Nepali containers are not allowed to go across the border to bring back goods, says Bachhu Poudel, chairman of Nepal Trans-Himalayan Border Commerce Association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border which was completely closed in late January was brought into operation in May, according to the government. But the customs points have not become fully operational till date, says Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Hundreds of containers used to enter Nepal every day in the past but hardly five of them enter the country these days,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Customs informed that Nepal&rsquo;s overall foreign trade is returning back to normalcy although the customs points with China remain affected.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the department, the country has imported goods worth Rs 402 billion in the first four months of the current fiscal year, which&nbsp; is less than that of the last fiscal&nbsp; year by only ten percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Customs Suman Dahal says that Nepal&rsquo;s foreign trade must be considered satisfactory because the government has adopted a policy of increasing exports and reducing imports.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Profit of Development Banks Shrinks by 25 Percent ',
			'sub_title' => '',
			'summary' => 'November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks. Out of 18 development banks, the net profit growth rate of seven development banks in the first quarter of the current fiscal year has been negative as compared to the previous fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the financial report of the first quarter made public by all the development banks, the total net profit till September was Rs 902.7 million while they made a profit of Rs 1.20 billion in the previous fiscal year. Compared to last year, the total net profit growth rate of development banks has shrunk by 25 percent. Three development banks have incurred net losses while the distributable profits of seven banks have turned negative.</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:Calibri">As the profit growth rate of Jyoti, Garima, Exel, Shangrila, Shine Resunga, Corporate, and Karnali Development Bank has been lower than last year, the overall net profit of the development banks has shrunk by about 26 percent. Despite the overall contraction in the bank&#39;s profit, the profit growth rate of the remaining 11 development banks are encouraging.</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:Calibri">Meanwhile, Muktinath Development Bank has made the highest profit among the development banks. The bank has managed to earn a net profit of Rs 294.159 million in the first quarter. In the corresponding period of the previous year, it earned a profit of Rs 228.7 million. Compared to last year, the bank&#39;s profit has increased by 22.23 percent. The distributable profit of the bank is Rs. 152.1 million. </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:Calibri">Pradyumna Pokharel, CEO of Muktinath Development Bank, informed that the bank has managed to earn net profit due to the increase in interest income.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12721',
			'article_category_id' => '1',
			'title' => 'NTA Achieves 69 Percent Work Progress in Expansion of Broadband Internet ',
			'sub_title' => '',
			'summary' => 'November 26: Nepal Telecommunication Authority (NTA) has achieved 69 percent work progress in expansion of Broadband Internet across the country.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 26: Nepal Telecommunication Authority (NTA) has achieved 69 percent work progress in expansion of Broadband Internet across the country. The project has been launched by NTA with the aim of providing high speed broadband internet across the country, according to the state-run national news agency - RSS. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">NTA informed that 69.37 percent connection has been completed so far.&nbsp; RSS reports that the NTA has implemented the project of providing broadband internet service in 18 packages by utilizing the budget from the Rural Telecommunication Development Fund.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to RSS, NTA spokesperson Min Prasad Aryal informed that the connection has been completed in the selected places in 46 districts under 12 packages. According to him, out of 18 packages, internet connection has been completed in 11,086 places so far, including 506 local levels, 4,165 ward offices, 3,472 secondary schools and 2,943 health institutions.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">A report prepared by NTA states that service providers have been selected for the connectivity connection in 19 districts under the four packages while more than percent in nine districts under two packages.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, 4,896 internet connections are still pending. Similarly, NTA has informed that an agreement has been reached for network and connectivity connection in 19 districts under the four packages.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Major Indicators of Economy Positive: NRB Report',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">November 26: </span><span style="font-family:Arial">The major indicators of Nepal&rsquo;s economy are positive despite the impact of coronavirus. The country&rsquo;s foreign trade, remittance inflow, balance of payment are all improving, according to the latest report of Nepal Rastra Bank (NRB).</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:Arial">The Current Macroeconomic and Financial Situation of Nepal released by the central bank on Wednesday (November 25) shows that the flow of loan from banks and financial institutions (BFIs) to the private sector in the firs three months of the current fiscal year has increased by four percent. The flow of loan from BFI to the private sector during the corresponding period of last fiscal year had increased by 4.3 percent.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">In three months of 2020/21, merchandise exports increased14.3 percent to Rs.31.05 billion compared to an increase of 14.4 percent in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Destination-wise, exports to India and other countries increased 19.4 percent and 7.4 percent respectively whereas exports to China decreased 53.2 percent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">According to the report, exports of jute goods, polyster yarn and threads, noodles, cardamom, and pashmina among others increased whereas exports &nbsp;of palm oil, pulses, zinc sheet, handicrafts, and skin among others &nbsp;decreased in the review period. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">In three months of 2020/21, merchandise imports decreased 12.7 percent to Rs.292.27 billion compared to a decrease of 10.3 percent a year ago. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Destination-wise, imports from India, China and other countries decreased 6.6 percent, 26.9 percent, and 19.0 percent respectively. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The report states that imports of rice, crude soybean oil, telecommunication equipment and parts, edible oil, and coal among others increased, whereas imports of petroleum products, transport equipment and parts, aircraft spareparts, other machinery and parts, and crude palm oil among others decreased in the review period.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Total trade deficit narrowed down 15.1 percent to Rs.261.22 billion in three months of 2020/21. Such &nbsp;deficit had contracted 12.0 percent in the same period of the previous year. The export-import ratio increased to 10.6 percent in the review period from 8.1 percent in the same period of the previous year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Remittance inflows increased 12.6 percent to Rs.258.86 billion in the review period against a decrease of 5.1 percent in the same period of the previous year. In the US Dollar terms, remittance inflows increased 7.6 percent to 2.18 billion in the review period against a decrease of 4.7 percent in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The current account remained at a surplus of Rs.34.36 billion in the review period against a deficit of Rs 22.47 billion in the same period of the previous year. In the US Dollar terms, the </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">current account recorded a surplus of 288.2 million in the review period against a deficit of 198.4 million in the same period last year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Balance of Payments (BOP) registered a surplus of Rs.101.09 billion in the review period. Such surplus was Rs.14.43 billion in the same period of the previous year. In the US Dollar terms, the BOP recorded a surplus of 851.0 million in the review period compared to a surplus of 127.8 million in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The year-on-year consumer price inflation stood at 3.79 percent in the third month of 2020/21 compared to 6.21 percent a year ago. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Food and beverage inflation stood at 5.50percent whereas non-food and service inflation stood at 2.46 percent in the review month.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12719',
			'article_category_id' => '1',
			'title' => 'Nepal-China Joint Trade Task Force Unable to Hold Meeting More than Once',
			'sub_title' => '',
			'summary' => 'November 26: It has been more than one year since the governments of Nepal and China signed a Memorandum of Understanding (MoU) for bilateral trade but there has been no progress in implementing the agreement till date.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 26: It has been more than one year since the governments of Nepal and China signed a Memorandum of Understanding (MoU) for bilateral trade but there has been no progress in implementing the agreement 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:&quot;Bangla MN&quot;">The Nepal-China Joint Trade Task Force was formed after the visit of Chinese President Xi Jinping to Nepal in 2019 but the task force has organised meeting only once. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The task force was formed to resolve the problems related to bilateral trade and to increase the volume of trade between the two countries. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">During a virtual meeting of the task force held about two months ago, both sides had discussed about the problems in import and export of goods at the customs points and to operate transit route. However, the customs points have still not become fully operational. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The meeting had also discussed about Chinese investment in Nepal, informed Secretary Prakash Dahal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Government authorities informed that they are also in talks with the Chinese side regarding the implementation of the Trade and Transit Protocol signed with China. However, the task force has not been able to work effectively 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:&quot;Bangla MN&quot;">Nepal&rsquo;s export to China has come to a complete halt while import from China has also decreased significantly. Nepal is facing problems in bringing goods from Tatopani and Rasuwagadhi border points. Only three to four containers are entering Nepal from the border points on a daily basis. Authorities are holding discussions with Chinese embassy to resolve the problem.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal, however, has been exporting limited goods to China through the air route.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12718',
			'article_category_id' => '1',
			'title' => '54th AGM of FNCCI begins from Today',
			'sub_title' => '',
			'summary' => 'November 26: The 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry is being held for three days starting from today (November 26).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 26: The 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry is being held for three days starting from today (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:&quot;Bangla MN&quot;">The umbrella body of industries and enterprises of the country is scheduled to hold the inauguration ceremony as well as the closed session through Zoom meeting.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">As per the schedule, FNCCI will elect a new executive committee on Saturday (November 28) after the close session ends.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Shekhar Golchha is poised to lead the FNCCI for the next term in accordance to provision in statute of FNCCI which states that the senior vice president will become the president of FNCCI after completing his/her 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:&quot;Bangla MN&quot;">The Election Committee of FNCCI informed that there will be election for the other posts. Serving vice presidents of FNCCI Chandra Dhakal and Kishor Pradhan will be vying for the post of senior vice president during 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:&quot;Bangla MN&quot;">Other vice presidents Umesh Lal Shrestha and Anjan Shrestha will face each other for the post of vice president (commodities). Likewise, Ram Chandra Shanghai will vie for the post of vice president (associates) with Saurav Jyoti while Dinesh Shrestha and Guna Nidhi Tiwari will vie for the post of vice president (district/municipalities).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The FNCCI election will be held at three different locations this time due to the problem created by coronavirus. FNCCI is scheduled to hold the election at its head office in Teku, Karki Banquet in Babar Mahal and Nepal Academy Hall in Kamaladi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">FNCCI was supposed to hold the election and AGM in March but it had to be postponed time and again due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12716',
			'article_category_id' => '1',
			'title' => '‘Nepali Migrant Workers Travelling to Labour Destinations on Visit Visas’',
			'sub_title' => '',
			'summary' => 'November 25: Manpower companies have requested help from parliamentary committee after the country’s diplomatic missions did not show any interest to attest work permit for large number of Nepali migrant workers as per the demand from labour destination countries.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 25: Manpower companies have requested help from parliamentary committee after the country&rsquo;s diplomatic missions did not show any interest to attest work permit for large number of Nepali migrant workers as per the demand from labour destination countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They argued that the decision of Nepal&rsquo;s embassies based in Gulf countries not to approve the demand for labour has risked losing job opportunities. The manpower companies on Tuesday (November 24) urged the Industry, Labour and Consumer Welfare Committee of the House of Representative to take initiative to resolve this issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The manpower companies say that there is demand for more than 100,000 workers in Gulf countries but the diplomatic missions of Nepal in those countries have denied permission for work citing coronavirus pandemic. Representatives of the companies said during a meeting organized by the house panel that the country risks loosing hundreds of thousands of job opportunities due to the lacklusture approach of Nepal&rsquo;s embassies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to them, the demand for labour from countries like Qatar, Bahrain, Dubai among other Gulf countries have not been approved by the respective embassies of Nepal in those countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Secretary of Nepal Foreign Employment Agencies Association Sujit Kumar Shrestha warned that if the embassies do not approve the demand for labour then there is high possibility that the opportunities will be given to other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Gulf countries have placed huge demand for workers in the service sector, hospitals, hotel industry, super stores and construction projects. However, the labourers have been forced to travel to the Gulf countries in visit visas after the embassies did not approve the demand for labour.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of the Foreign Employment Association (Democratic) Narendra Prasad Dhakal says that youths are forced to travel to Gulf countries for work on visit visas although it is illegal because they have no other option at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He claimed that around 500 to 700 Nepalis leave for Gulf countries on visit visas everyday and there is a lot of under-table dealings going on at the Tribhuvan International Airport.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had lifted a ban on foreign employment on August 30 but the migrant workers are struggling to return to work because of the stance taken by Nepal&rsquo;s embassies.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12715',
			'article_category_id' => '1',
			'title' => 'Hydropower Projects Start Getting License Through Fast-Track Process',
			'sub_title' => '16 Hydropower Projects get Construction and Generation Permits ',
			'summary' => 'November 25: Sixteen hydropower projects have obtained construction and power generation licenses from the Department of Electricity Development in the first four months of the current Fiscal Year 2077/78. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 25: Sixteen hydropower projects have obtained construction and power generation licenses from the Department of Electricity Development in the first four months of the current Fiscal Year 2077/78. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the Department, 16 hydropower projects with capacity of more than 1 MW have been given permission for construction and generation of electricity. The total capacity of these projects is 379.51 MW. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Moreover, the license period of these projects is 35 years, ie till 2112 BS. After that, the projects will be owned by the Government of Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the corresponding period last year, only six projects had obtained construction permits. However, the number of projects that received the construction permits has increased in the current fiscal year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The department said that the number of projects receiving construction and power generation permits has increased due to the fast-track approach of the government. A senior official of the department informed that the applications for the license through fast track will not remain pending like before. He said that now the promoter companies have started getting licenses in a short time. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The biggest project to get construction permit is Tamor Mewa Hydropower Project. The project to be built in Taplejung has been allowed to generate 128 MW of electricity. Similarly, the second largest project is 86.59 MW Landruk and the third is 70 MW Dudhkoshi-2 Hydropower Project. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Among the projects that have been given permit for construction are 14.7 MW Mudi Khola, 13.42 MW Midim and 11.05 MW Sunigadh Hydropower Project. Other 10 projects have a capacity of less than 10 MW. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12714',
			'article_category_id' => '1',
			'title' => 'Tourism Entrepreneurs Decry 7-Day Quarantine Provision for Foreign Visitors',
			'sub_title' => '',
			'summary' => 'November 25: Stakeholders have expressed concern regarding the arrival of tourists despite government’s commitment to gradually reopen the tourism industry because of the mandatory provision of seven-day quarantine for foreign visitors.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 25: Stakeholders have expressed concern regarding the arrival of tourists despite government&rsquo;s commitment to gradually reopen the tourism industry because of the mandatory provision of seven-day quarantine for foreign visitors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had opened trekking and mountaineering for tourists from October 17 and had announced to gradually open other sectors from November 16.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The proposal of the Ministry of Culture, Tourism and Civil Aviation to reopen the tourism industry by strictly following health protocols is yet to be endorsed by the Council of Ministers. However, the government has gradually opened various pilgrimage sites including Lumbini, the birth place of Lord Buddha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tourism entrepreneurs say that domestic tourism is slowly reviving but the overall situation is still not encouraging, especially due to the seven-day quarantine provision for foreign tourists.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already announced on-arrival visas for tourists who visit Nepal in groups. However, such visitors have to mandatorily stay in quarantine for seven days in hotels. Because of this provision, tourists make enquiry but hesitate to visit Nepal says Binayak Shah, first vice president of Hotel Association of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shah complained that the tourism industry is facing problem because the government has not been able to take appropriate decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have proposed setting up PCR tests at the airport itself and requested the government to reduce the quarantine period to three days. However, the government neither sets up testing facility itself nor does it allows us to do so,&rdquo; complained Shah.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What is the benefit of opening the tourism industry in such a fashion?&rdquo; he questioned.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shah said that foreign tourists are not willing to risk their lives and come here unless the government announces health contingency plans and assures treatment facility for them.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of the Trekking Agencies Association of Nepal (TAAN) Khum Bahadur Subedi says that the government has turned a deaf ear to their repeated pleas in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are in favour of quick PCR tests for tourists for which the testing facility needs to be set up at the airport,&rdquo; he said, adding, &ldquo;The government needs to give guarantee to the tourists in case of emergency. Otherwise, no one is going to visit Nepal.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12713',
			'article_category_id' => '1',
			'title' => 'Corruption Remains a Major Problem in Asia: TI',
			'sub_title' => 'Survey finds nearly one in 5 Respondents paid a Bribe while Accessing Essential Services ',
			'summary' => '',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">November 25: A report released by Transparency International on Tuesday (November 24) reveals that citizens across 17 countries in Asia report stagnant or rising levels of corruption, undermining equitable access to public services and trust in government.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The report, Global Corruption Barometer &ndash; Asia, has found that three-quarters of respondents believe that government corruption is a big problem in their country, with nearly one in five people (19 per cent) paying a bribe when accessing public services in the previous year. This is equivalent to about 836 million people, TI said in a statement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The figure is more alarming in Nepal with 84 percent respondents accusing the government of corruption.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">In addition to bribery, the use of personal connections to access public services is also prevalent across Asia, the report states. The results found that more than one in five people (22 per cent) who accessed public services used their personal connections to receive the assistance they needed.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">When asked why, 24 percent of people who paid bribes said they were asked to do so, while 30 percent of people who used personal connections said they would not have received the service otherwise. This suggests that people are paying bribes to speed up essential services, highlighting red tape and inefficient bureaucracy, while pushing those without the means at their disposal to the back of the queue.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">Age is another important factor. Young people aged 18 to 34 are more likely to pay a bribe or use personal connections than any other age group.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The survey found corruption around elections is also prevalent. Nearly one in seven people were offered bribes in exchange for votes at a national, regional or local election in the past five years.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">&quot;Protecting the integrity of elections is critical to ensuring that corruption doesn&#39;t undermine democracy,&quot; said Delia Ferreira Rubio, chair of Transparency International. &quot;Throughout the region, election commissions and anti-corruption agencies need to work in lockstep to counter vote-buying, which weakens trust in government.&quot;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">Across Asia, more than three out of four people (76 per cent) are familiar with the anti-corruption agency in their country, of which, 63 per cent think that the agency is doing a good job.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">In addition, people across the region are hopeful about the future of anti-corruption. More than three in five (62 per cent) think that ordinary people can make a difference in the fight against corruption.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12712',
			'article_category_id' => '1',
			'title' => 'CCMC Decides to Increase International Flights',
			'sub_title' => '',
			'summary' => 'November 25: The government has decided to operate additional flights to foreign destinations. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">November 25: The government has decided to operate additional flights to foreign destinations. The Covid-19 Crisis Management Centre (CCMC) has decided to issue flight permits to all countries after evaluating the risk of coronavirus in the international flight destinations.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">A CCMC meeting held on Tuesday (November 24) decided to open flights to other countries besides the current destinations as per the requirement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">Secretary at the Office of the Prime Minister and Council of Ministers Mahendra Prasad Guragain informed that the CCMC has agreed to open regular flights to other destinations as per the requirement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">Secretary Guragain informed that the CCMC did not take any decision on the recommendation of the Mayors&rsquo; Forum to impose lockdown in Kathmandu Valley for three weeks due to rising threat of infection here. He said that the CCMC discussed about the possibility of sealing certain areas with high risk of infection so that other services are not disrupted.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">The CCMC also instructed the government not to shut down an entire office just because of few employees getting infected with coronavirus. Guragain said that the CCMC has instructed government offices to remain open by sending the infected staffers to isolation.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12710',
			'article_category_id' => '1',
			'title' => 'NCHL Working to Ensure Inter-Bank Card Settlement under the National Payment Switch',
			'sub_title' => '',
			'summary' => 'November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NCHL informed that it is making necessary preparations for inter-bank card settlement in the first phase.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company said that it is currently conducting study for developing the National Payment Switch but hasn&rsquo;t started technical works yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of NCHL Nilesn Man Singh Pradhan informed New Business Age that they are currently studying the modus operandi of the national payment switches of neighbouring countries like India, Sri Lanka and Bangladesh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;After the study is complete, we will develop a national payment switch which is best suited for Nepal considering the technological advancement of the country and the requirement of businesses and volume of transaction,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We don&rsquo;t have transactions as big as that of India. So we will use a system that is suitable for us,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Pradhan said that the project is one of the big projects of the country and cannot specifically say when it will be completed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He argues that such switch is categorized under long-term projects in foreign countries. Pradhan added that they will first identify the components which they require urgently and work towards setting them up in phase-wise 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:&quot;Arial Unicode MS&quot;">&ldquo;In the first phase, we will ensure inter-bank card settlement,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At present, the central bank has instructed commercial banks not to charge customers for inter-bank ATM transaction. As Nepal does not have its own payment switch, the banks have been forced &nbsp;pay a minimum of Rs 12 for such transaction to foreign developers. BFIs have been paying hefty amount to international payment gateways like Visa and Master Card because the country lacks its own national payment gateway.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks of Nepal have been making payment for transactions through debit and credit cards by using payment switches of foreign countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The country has been spending lots of money to foreign banks for the payments made through point of sales machines placed at shopping malls across the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In this context, a national payment switch is expected to reduce the cost of the banks to a great extent.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12709',
			'article_category_id' => '1',
			'title' => 'Finance Minister warns of Action against Govt Staffers if they Fail to Meet Revenue Target ',
			'sub_title' => '',
			'summary' => 'November 24: Finance minister Bishnu Prasad Poudel has warned government  employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 24: Finance minister Bishnu Prasad Poudel has warned government &nbsp;employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. He also said that the employees who achieve the target will be rewarded. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Speaking with the finance secretary, director general of Inland Revenue Department and customs department on Monday, he directed the officials to perform their work to meet the aim despite facing the challenges created by covid-19.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Out of the target of 25 percent revenue collection in the first four months of the current fiscal year, the government was able to collect 24 percent revenue. According to the Ministry of Finance, Rs 240.15 billion revenue has been collected in the first four months. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The finance minister gave such directive after failing to meet the revenue target in the first four months. Explaining that the employees should not be pressurized to work with fear and intimidation, he stressed on creating favorable working conditions with respect to qualifications and abilities.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;&ldquo;The ministry provides support, facilitation and encouragement to solve difficulties and problems. If the goal is achieved, we respect it. If not, you should be punished,&rdquo; he said. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12708',
			'article_category_id' => '1',
			'title' => 'State-Owned Company to Extract Iron Using Locally Available Resources in Nawalparasi',
			'sub_title' => '',
			'summary' => 'November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A report prepared after sending samples of raw materials extracted from the mine to China for studying the prospects of commercial extraction has suggested using electric furnace for extracting&nbsp; iron.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report suggested using electric furnace considering the utilization of electricity produced in the country. It is also possible to refine iron by using coal but it would incur additional cost to import coal. Therefore, the state-owned company is preparing to use electric furnace for extraction and refining of iron from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of the company Krishna Dev Jha informed that China provided them the report about two weeks ago. Jha said that they will opt for electric furnace as per the recommendation of the report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We will utilize the resources available in the country and rely less on imported products for extracting iron,&rdquo; said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company is preparing to start the drilling process within the next two weeks (by mid-December) as it has already received the report. It has already selected a consulting firm for the purpose from within the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The consulting company will drill between 265 meters to 300 meters in five areas of Dhaubadhi and Pokhari where the mine is located. The quantity of iron which can be extracted from the mine will be ascertained after drilling.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the company is also preparing to select international consultant company by issuing a public notice for conducting feasibility study and to prepare the detailed project report (DPR).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will begin commercial production of iron only after completing all of the above mentioned processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Jha informed that the company is preparing to set up a steel plant in Kawasoti of Nawalparasi district. They have already started acquiring 150 bigha land for setting up the factory, according to Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He further informed that 1,500 metric tons of iron can be produced on a daily basis after the company starts production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government had been announcing financial support for the mine since the last few years, it could not be implemented as the report was yet to arrive from China.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has received Rs 250 million during the last fiscal&nbsp; year while the government has allocated Rs 1.5 billion this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has been looking after the financial matters of the company which has been set up with a total capital of Rs 10 billion. The private sector has 45 percent stakes at the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company was set up in public private partnership model after the government on August 20 decided to open a company specifically for extraction of mines.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12707',
			'article_category_id' => '1',
			'title' => 'Sugar Mills Preparing to Sell Electricity from this Season',
			'sub_title' => '',
			'summary' => 'November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. Everest Sugar Mills of Mahottari, Indu Shankar Sugar Mills of Sarlahi and Reliance Sugar Mills of Bara are making necessary preparations to sell the electricity that they produce themselves from the waste product of sugarcane. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Nepal Sugar Producers Association Sashikanta Agrawal said that they are preparing to sell electricity from this winter season when the government faces shortage of electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugar mills are planning to sell 7 megawatts of electricity this season. Agrawal says that they are in the final phase of preparation for selling the electricity which they produce from biomass. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have already made preparations to connect the transmission line from the mills to the nearest sub-station,&rdquo; said Agrawal, who is the proprietor of Everest Sugar Mills. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Altogether three sugar mills are in a position to sell a total of 7 megawatts of electricity from this season,&rdquo; he added.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indu Shankar and Everest sugar mills have already taken permission from the Department of Electricity Development to produce 3 megawatts of electricity each. They have also signed an agreement with the NEA to purchase or sell electricity at the &ldquo;posted rate&rdquo; of Rs 8.4 per unit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, Reliance Sugar Mills, which has taken permission from the board to survey the possibility of producing 10 megawatts of electricity, is also preparing to sell excess of electricity from this season. The company, however, is yet to acquire license, informed Director General of the department Navin Raj Singh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugar mills will be operational within a month. Operators of the mills say they will be in a position to sell electricity as soon as they start producing sugar. NEA says that it can purchase electricity from sugar mills with whom it has signed power purchase agreements (PPA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sugar mills normally operate during the winter season from mid-December to mid-April. The electricity produced by sugar mills by burning biomass is considered of great significance, especially because the production of hydroelectricity is reduced to a great extent during winter season.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12706',
			'article_category_id' => '1',
			'title' => 'Nepal’s Bilateral Trade with China Shrinks by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'November 24: The government’s inability to fully operate Nepal’s customs points in the northern border is taking toll on trade between Nepal and China. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: The government&rsquo;s inability to fully operate Nepal&rsquo;s customs points in the northern border is taking toll on trade between Nepal and China. The disruption in movement of goods from the border points since late January has reduced the volume of trade with China, which is Nepal&rsquo;s second largest trade partner.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data made public by the Department of Customs, Nepal&rsquo;s bilateral trade with China declined by Rs 20 billion in the first four months of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that the volume of bilateral trade with China during the review period was worth Rs 60.41 billion. Nepal&rsquo;s trade with China during the same period of last fiscal year was of Rs 80.89 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Both export and import with China had increased since the 2015 earthquake but the figures took a nosedive since coronavirus started spreading from China late last year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the review period of last fiscal year, Nepal exported goods worth Rs 710 million to China while it imported goods worth Rs 80.18 billion from the northern neighbor. This year, the import has been limited to Rs 60.12 billion while Nepal&rsquo;s export has also dropped to 209 million.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border transit points with China that were closed since January are yet to fully reopen. Only the Tatopani and Rasuwagadhi customs points are partially operational.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Hundreds of containers used to enter Nepal on a daily basis prior to the emergence of coronavirus. The entry of containers has dropped to hardly five per day at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s trade with&nbsp; China has been badly affected because Nepali containers are not allowed to go across the border to bring back goods, says Bachhu Poudel, chairman of Nepal Trans-Himalayan Border Commerce Association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border which was completely closed in late January was brought into operation in May, according to the government. But the customs points have not become fully operational till date, says Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Hundreds of containers used to enter Nepal every day in the past but hardly five of them enter the country these days,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Customs informed that Nepal&rsquo;s overall foreign trade is returning back to normalcy although the customs points with China remain affected.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the department, the country has imported goods worth Rs 402 billion in the first four months of the current fiscal year, which&nbsp; is less than that of the last fiscal&nbsp; year by only ten percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Customs Suman Dahal says that Nepal&rsquo;s foreign trade must be considered satisfactory because the government has adopted a policy of increasing exports and reducing imports.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12705',
			'article_category_id' => '1',
			'title' => 'Profit of Development Banks Shrinks by 25 Percent ',
			'sub_title' => '',
			'summary' => 'November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks. Out of 18 development banks, the net profit growth rate of seven development banks in the first quarter of the current fiscal year has been negative as compared to the previous fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the financial report of the first quarter made public by all the development banks, the total net profit till September was Rs 902.7 million while they made a profit of Rs 1.20 billion in the previous fiscal year. Compared to last year, the total net profit growth rate of development banks has shrunk by 25 percent. Three development banks have incurred net losses while the distributable profits of seven banks have turned negative.</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:Calibri">As the profit growth rate of Jyoti, Garima, Exel, Shangrila, Shine Resunga, Corporate, and Karnali Development Bank has been lower than last year, the overall net profit of the development banks has shrunk by about 26 percent. Despite the overall contraction in the bank&#39;s profit, the profit growth rate of the remaining 11 development banks are encouraging.</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:Calibri">Meanwhile, Muktinath Development Bank has made the highest profit among the development banks. The bank has managed to earn a net profit of Rs 294.159 million in the first quarter. In the corresponding period of the previous year, it earned a profit of Rs 228.7 million. Compared to last year, the bank&#39;s profit has increased by 22.23 percent. The distributable profit of the bank is Rs. 152.1 million. </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:Calibri">Pradyumna Pokharel, CEO of Muktinath Development Bank, informed that the bank has managed to earn net profit due to the increase in interest income.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'NTA Achieves 69 Percent Work Progress in Expansion of Broadband Internet ',
			'sub_title' => '',
			'summary' => 'November 26: Nepal Telecommunication Authority (NTA) has achieved 69 percent work progress in expansion of Broadband Internet across the country.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 26: Nepal Telecommunication Authority (NTA) has achieved 69 percent work progress in expansion of Broadband Internet across the country. The project has been launched by NTA with the aim of providing high speed broadband internet across the country, according to the state-run national news agency - RSS. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">NTA informed that 69.37 percent connection has been completed so far.&nbsp; RSS reports that the NTA has implemented the project of providing broadband internet service in 18 packages by utilizing the budget from the Rural Telecommunication Development Fund.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to RSS, NTA spokesperson Min Prasad Aryal informed that the connection has been completed in the selected places in 46 districts under 12 packages. According to him, out of 18 packages, internet connection has been completed in 11,086 places so far, including 506 local levels, 4,165 ward offices, 3,472 secondary schools and 2,943 health institutions.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">A report prepared by NTA states that service providers have been selected for the connectivity connection in 19 districts under the four packages while more than percent in nine districts under two packages.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, 4,896 internet connections are still pending. Similarly, NTA has informed that an agreement has been reached for network and connectivity connection in 19 districts under the four packages.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 1 => array(
		'Article' => array(
			'id' => '12720',
			'article_category_id' => '1',
			'title' => 'Major Indicators of Economy Positive: NRB Report',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:&quot;Devanagari Sangam MN&quot;">November 26: </span><span style="font-family:Arial">The major indicators of Nepal&rsquo;s economy are positive despite the impact of coronavirus. The country&rsquo;s foreign trade, remittance inflow, balance of payment are all improving, according to the latest report of Nepal Rastra Bank (NRB).</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:Arial">The Current Macroeconomic and Financial Situation of Nepal released by the central bank on Wednesday (November 25) shows that the flow of loan from banks and financial institutions (BFIs) to the private sector in the firs three months of the current fiscal year has increased by four percent. The flow of loan from BFI to the private sector during the corresponding period of last fiscal year had increased by 4.3 percent.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">In three months of 2020/21, merchandise exports increased14.3 percent to Rs.31.05 billion compared to an increase of 14.4 percent in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Destination-wise, exports to India and other countries increased 19.4 percent and 7.4 percent respectively whereas exports to China decreased 53.2 percent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">According to the report, exports of jute goods, polyster yarn and threads, noodles, cardamom, and pashmina among others increased whereas exports &nbsp;of palm oil, pulses, zinc sheet, handicrafts, and skin among others &nbsp;decreased in the review period. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">In three months of 2020/21, merchandise imports decreased 12.7 percent to Rs.292.27 billion compared to a decrease of 10.3 percent a year ago. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Destination-wise, imports from India, China and other countries decreased 6.6 percent, 26.9 percent, and 19.0 percent respectively. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The report states that imports of rice, crude soybean oil, telecommunication equipment and parts, edible oil, and coal among others increased, whereas imports of petroleum products, transport equipment and parts, aircraft spareparts, other machinery and parts, and crude palm oil among others decreased in the review period.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Total trade deficit narrowed down 15.1 percent to Rs.261.22 billion in three months of 2020/21. Such &nbsp;deficit had contracted 12.0 percent in the same period of the previous year. The export-import ratio increased to 10.6 percent in the review period from 8.1 percent in the same period of the previous year.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Remittance inflows increased 12.6 percent to Rs.258.86 billion in the review period against a decrease of 5.1 percent in the same period of the previous year. In the US Dollar terms, remittance inflows increased 7.6 percent to 2.18 billion in the review period against a decrease of 4.7 percent in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The current account remained at a surplus of Rs.34.36 billion in the review period against a deficit of Rs 22.47 billion in the same period of the previous year. In the US Dollar terms, the </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">current account recorded a surplus of 288.2 million in the review period against a deficit of 198.4 million in the same period last year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Balance of Payments (BOP) registered a surplus of Rs.101.09 billion in the review period. Such surplus was Rs.14.43 billion in the same period of the previous year. In the US Dollar terms, the BOP recorded a surplus of 851.0 million in the review period compared to a surplus of 127.8 million in the same period of the previous year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">The year-on-year consumer price inflation stood at 3.79 percent in the third month of 2020/21 compared to 6.21 percent a year ago. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Helvetica">Food and beverage inflation stood at 5.50percent whereas non-food and service inflation stood at 2.46 percent in the review month.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 2 => array(
		'Article' => array(
			'id' => '12719',
			'article_category_id' => '1',
			'title' => 'Nepal-China Joint Trade Task Force Unable to Hold Meeting More than Once',
			'sub_title' => '',
			'summary' => 'November 26: It has been more than one year since the governments of Nepal and China signed a Memorandum of Understanding (MoU) for bilateral trade but there has been no progress in implementing the agreement till date.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 26: It has been more than one year since the governments of Nepal and China signed a Memorandum of Understanding (MoU) for bilateral trade but there has been no progress in implementing the agreement 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:&quot;Bangla MN&quot;">The Nepal-China Joint Trade Task Force was formed after the visit of Chinese President Xi Jinping to Nepal in 2019 but the task force has organised meeting only once. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The task force was formed to resolve the problems related to bilateral trade and to increase the volume of trade between the two countries. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">During a virtual meeting of the task force held about two months ago, both sides had discussed about the problems in import and export of goods at the customs points and to operate transit route. However, the customs points have still not become fully operational. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The meeting had also discussed about Chinese investment in Nepal, informed Secretary Prakash Dahal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Government authorities informed that they are also in talks with the Chinese side regarding the implementation of the Trade and Transit Protocol signed with China. However, the task force has not been able to work effectively 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:&quot;Bangla MN&quot;">Nepal&rsquo;s export to China has come to a complete halt while import from China has also decreased significantly. Nepal is facing problems in bringing goods from Tatopani and Rasuwagadhi border points. Only three to four containers are entering Nepal from the border points on a daily basis. Authorities are holding discussions with Chinese embassy to resolve the problem.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal, however, has been exporting limited goods to China through the air route.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12718',
			'article_category_id' => '1',
			'title' => '54th AGM of FNCCI begins from Today',
			'sub_title' => '',
			'summary' => 'November 26: The 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry is being held for three days starting from today (November 26).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">November 26: The 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry is being held for three days starting from today (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:&quot;Bangla MN&quot;">The umbrella body of industries and enterprises of the country is scheduled to hold the inauguration ceremony as well as the closed session through Zoom meeting.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">As per the schedule, FNCCI will elect a new executive committee on Saturday (November 28) after the close session ends.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Shekhar Golchha is poised to lead the FNCCI for the next term in accordance to provision in statute of FNCCI which states that the senior vice president will become the president of FNCCI after completing his/her 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:&quot;Bangla MN&quot;">The Election Committee of FNCCI informed that there will be election for the other posts. Serving vice presidents of FNCCI Chandra Dhakal and Kishor Pradhan will be vying for the post of senior vice president during 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:&quot;Bangla MN&quot;">Other vice presidents Umesh Lal Shrestha and Anjan Shrestha will face each other for the post of vice president (commodities). Likewise, Ram Chandra Shanghai will vie for the post of vice president (associates) with Saurav Jyoti while Dinesh Shrestha and Guna Nidhi Tiwari will vie for the post of vice president (district/municipalities).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The FNCCI election will be held at three different locations this time due to the problem created by coronavirus. FNCCI is scheduled to hold the election at its head office in Teku, Karki Banquet in Babar Mahal and Nepal Academy Hall in Kamaladi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">FNCCI was supposed to hold the election and AGM in March but it had to be postponed time and again due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12716',
			'article_category_id' => '1',
			'title' => '‘Nepali Migrant Workers Travelling to Labour Destinations on Visit Visas’',
			'sub_title' => '',
			'summary' => 'November 25: Manpower companies have requested help from parliamentary committee after the country’s diplomatic missions did not show any interest to attest work permit for large number of Nepali migrant workers as per the demand from labour destination countries.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 25: Manpower companies have requested help from parliamentary committee after the country&rsquo;s diplomatic missions did not show any interest to attest work permit for large number of Nepali migrant workers as per the demand from labour destination countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They argued that the decision of Nepal&rsquo;s embassies based in Gulf countries not to approve the demand for labour has risked losing job opportunities. The manpower companies on Tuesday (November 24) urged the Industry, Labour and Consumer Welfare Committee of the House of Representative to take initiative to resolve this issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The manpower companies say that there is demand for more than 100,000 workers in Gulf countries but the diplomatic missions of Nepal in those countries have denied permission for work citing coronavirus pandemic. Representatives of the companies said during a meeting organized by the house panel that the country risks loosing hundreds of thousands of job opportunities due to the lacklusture approach of Nepal&rsquo;s embassies. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to them, the demand for labour from countries like Qatar, Bahrain, Dubai among other Gulf countries have not been approved by the respective embassies of Nepal in those countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Secretary of Nepal Foreign Employment Agencies Association Sujit Kumar Shrestha warned that if the embassies do not approve the demand for labour then there is high possibility that the opportunities will be given to other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Gulf countries have placed huge demand for workers in the service sector, hospitals, hotel industry, super stores and construction projects. However, the labourers have been forced to travel to the Gulf countries in visit visas after the embassies did not approve the demand for labour.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of the Foreign Employment Association (Democratic) Narendra Prasad Dhakal says that youths are forced to travel to Gulf countries for work on visit visas although it is illegal because they have no other option at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He claimed that around 500 to 700 Nepalis leave for Gulf countries on visit visas everyday and there is a lot of under-table dealings going on at the Tribhuvan International Airport.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A meeting of the Council of Ministers had lifted a ban on foreign employment on August 30 but the migrant workers are struggling to return to work because of the stance taken by Nepal&rsquo;s embassies.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-11-25',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '12463',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12715',
			'article_category_id' => '1',
			'title' => 'Hydropower Projects Start Getting License Through Fast-Track Process',
			'sub_title' => '16 Hydropower Projects get Construction and Generation Permits ',
			'summary' => 'November 25: Sixteen hydropower projects have obtained construction and power generation licenses from the Department of Electricity Development in the first four months of the current Fiscal Year 2077/78. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 25: Sixteen hydropower projects have obtained construction and power generation licenses from the Department of Electricity Development in the first four months of the current Fiscal Year 2077/78. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the Department, 16 hydropower projects with capacity of more than 1 MW have been given permission for construction and generation of electricity. The total capacity of these projects is 379.51 MW. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Moreover, the license period of these projects is 35 years, ie till 2112 BS. After that, the projects will be owned by the Government of Nepal. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">In the corresponding period last year, only six projects had obtained construction permits. However, the number of projects that received the construction permits has increased in the current fiscal year. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The department said that the number of projects receiving construction and power generation permits has increased due to the fast-track approach of the government. A senior official of the department informed that the applications for the license through fast track will not remain pending like before. He said that now the promoter companies have started getting licenses in a short time. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The biggest project to get construction permit is Tamor Mewa Hydropower Project. The project to be built in Taplejung has been allowed to generate 128 MW of electricity. Similarly, the second largest project is 86.59 MW Landruk and the third is 70 MW Dudhkoshi-2 Hydropower Project. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Among the projects that have been given permit for construction are 14.7 MW Mudi Khola, 13.42 MW Midim and 11.05 MW Sunigadh Hydropower Project. Other 10 projects have a capacity of less than 10 MW. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12714',
			'article_category_id' => '1',
			'title' => 'Tourism Entrepreneurs Decry 7-Day Quarantine Provision for Foreign Visitors',
			'sub_title' => '',
			'summary' => 'November 25: Stakeholders have expressed concern regarding the arrival of tourists despite government’s commitment to gradually reopen the tourism industry because of the mandatory provision of seven-day quarantine for foreign visitors.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 25: Stakeholders have expressed concern regarding the arrival of tourists despite government&rsquo;s commitment to gradually reopen the tourism industry because of the mandatory provision of seven-day quarantine for foreign visitors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had opened trekking and mountaineering for tourists from October 17 and had announced to gradually open other sectors from November 16.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The proposal of the Ministry of Culture, Tourism and Civil Aviation to reopen the tourism industry by strictly following health protocols is yet to be endorsed by the Council of Ministers. However, the government has gradually opened various pilgrimage sites including Lumbini, the birth place of Lord Buddha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tourism entrepreneurs say that domestic tourism is slowly reviving but the overall situation is still not encouraging, especially due to the seven-day quarantine provision for foreign tourists.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already announced on-arrival visas for tourists who visit Nepal in groups. However, such visitors have to mandatorily stay in quarantine for seven days in hotels. Because of this provision, tourists make enquiry but hesitate to visit Nepal says Binayak Shah, first vice president of Hotel Association of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shah complained that the tourism industry is facing problem because the government has not been able to take appropriate decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have proposed setting up PCR tests at the airport itself and requested the government to reduce the quarantine period to three days. However, the government neither sets up testing facility itself nor does it allows us to do so,&rdquo; complained Shah.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What is the benefit of opening the tourism industry in such a fashion?&rdquo; he questioned.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shah said that foreign tourists are not willing to risk their lives and come here unless the government announces health contingency plans and assures treatment facility for them.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of the Trekking Agencies Association of Nepal (TAAN) Khum Bahadur Subedi says that the government has turned a deaf ear to their repeated pleas in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are in favour of quick PCR tests for tourists for which the testing facility needs to be set up at the airport,&rdquo; he said, adding, &ldquo;The government needs to give guarantee to the tourists in case of emergency. Otherwise, no one is going to visit Nepal.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12713',
			'article_category_id' => '1',
			'title' => 'Corruption Remains a Major Problem in Asia: TI',
			'sub_title' => 'Survey finds nearly one in 5 Respondents paid a Bribe while Accessing Essential Services ',
			'summary' => '',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">November 25: A report released by Transparency International on Tuesday (November 24) reveals that citizens across 17 countries in Asia report stagnant or rising levels of corruption, undermining equitable access to public services and trust in government.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The report, Global Corruption Barometer &ndash; Asia, has found that three-quarters of respondents believe that government corruption is a big problem in their country, with nearly one in five people (19 per cent) paying a bribe when accessing public services in the previous year. This is equivalent to about 836 million people, TI said in a statement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The figure is more alarming in Nepal with 84 percent respondents accusing the government of corruption.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">In addition to bribery, the use of personal connections to access public services is also prevalent across Asia, the report states. The results found that more than one in five people (22 per cent) who accessed public services used their personal connections to receive the assistance they needed.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">When asked why, 24 percent of people who paid bribes said they were asked to do so, while 30 percent of people who used personal connections said they would not have received the service otherwise. This suggests that people are paying bribes to speed up essential services, highlighting red tape and inefficient bureaucracy, while pushing those without the means at their disposal to the back of the queue.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">Age is another important factor. Young people aged 18 to 34 are more likely to pay a bribe or use personal connections than any other age group.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">The survey found corruption around elections is also prevalent. Nearly one in seven people were offered bribes in exchange for votes at a national, regional or local election in the past five years.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">&quot;Protecting the integrity of elections is critical to ensuring that corruption doesn&#39;t undermine democracy,&quot; said Delia Ferreira Rubio, chair of Transparency International. &quot;Throughout the region, election commissions and anti-corruption agencies need to work in lockstep to counter vote-buying, which weakens trust in government.&quot;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">Across Asia, more than three out of four people (76 per cent) are familiar with the anti-corruption agency in their country, of which, 63 per cent think that the agency is doing a good job.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:Tahoma">In addition, people across the region are hopeful about the future of anti-corruption. More than three in five (62 per cent) think that ordinary people can make a difference in the fight against corruption.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12712',
			'article_category_id' => '1',
			'title' => 'CCMC Decides to Increase International Flights',
			'sub_title' => '',
			'summary' => 'November 25: The government has decided to operate additional flights to foreign destinations. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">November 25: The government has decided to operate additional flights to foreign destinations. The Covid-19 Crisis Management Centre (CCMC) has decided to issue flight permits to all countries after evaluating the risk of coronavirus in the international flight destinations.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">A CCMC meeting held on Tuesday (November 24) decided to open flights to other countries besides the current destinations as per the requirement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">Secretary at the Office of the Prime Minister and Council of Ministers Mahendra Prasad Guragain informed that the CCMC has agreed to open regular flights to other destinations as per the requirement.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">Secretary Guragain informed that the CCMC did not take any decision on the recommendation of the Mayors&rsquo; Forum to impose lockdown in Kathmandu Valley for three weeks due to rising threat of infection here. He said that the CCMC discussed about the possibility of sealing certain areas with high risk of infection so that other services are not disrupted.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:Arial">The CCMC also instructed the government not to shut down an entire office just because of few employees getting infected with coronavirus. Guragain said that the CCMC has instructed government offices to remain open by sending the infected staffers to isolation.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
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			'image' => '20201125112531_20190904020627_Nepal-Airlines-landing.jpg',
			'article_date' => '2020-11-25 11:24:43',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12710',
			'article_category_id' => '1',
			'title' => 'NCHL Working to Ensure Inter-Bank Card Settlement under the National Payment Switch',
			'sub_title' => '',
			'summary' => 'November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: Nepal Clearing House Limited (NCHL) has started initial phase of work for developing the National Payment Switch as per the understanding reached with the central bank in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NCHL informed that it is making necessary preparations for inter-bank card settlement in the first phase.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company said that it is currently conducting study for developing the National Payment Switch but hasn&rsquo;t started technical works yet.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of NCHL Nilesn Man Singh Pradhan informed New Business Age that they are currently studying the modus operandi of the national payment switches of neighbouring countries like India, Sri Lanka and Bangladesh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;After the study is complete, we will develop a national payment switch which is best suited for Nepal considering the technological advancement of the country and the requirement of businesses and volume of transaction,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We don&rsquo;t have transactions as big as that of India. So we will use a system that is suitable for us,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Pradhan said that the project is one of the big projects of the country and cannot specifically say when it will be completed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He argues that such switch is categorized under long-term projects in foreign countries. Pradhan added that they will first identify the components which they require urgently and work towards setting them up in phase-wise 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:&quot;Arial Unicode MS&quot;">&ldquo;In the first phase, we will ensure inter-bank card settlement,&rdquo; said Pradhan.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At present, the central bank has instructed commercial banks not to charge customers for inter-bank ATM transaction. As Nepal does not have its own payment switch, the banks have been forced &nbsp;pay a minimum of Rs 12 for such transaction to foreign developers. BFIs have been paying hefty amount to international payment gateways like Visa and Master Card because the country lacks its own national payment gateway.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks of Nepal have been making payment for transactions through debit and credit cards by using payment switches of foreign countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The country has been spending lots of money to foreign banks for the payments made through point of sales machines placed at shopping malls across the country. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In this context, a national payment switch is expected to reduce the cost of the banks to a great extent.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12709',
			'article_category_id' => '1',
			'title' => 'Finance Minister warns of Action against Govt Staffers if they Fail to Meet Revenue Target ',
			'sub_title' => '',
			'summary' => 'November 24: Finance minister Bishnu Prasad Poudel has warned government  employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">November 24: Finance minister Bishnu Prasad Poudel has warned government &nbsp;employees that they will be punished if they do not meet the revenue collection target mentioned in the budget statement of the current fiscal year. He also said that the employees who achieve the target will be rewarded. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Speaking with the finance secretary, director general of Inland Revenue Department and customs department on Monday, he directed the officials to perform their work to meet the aim despite facing the challenges created by covid-19.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Out of the target of 25 percent revenue collection in the first four months of the current fiscal year, the government was able to collect 24 percent revenue. According to the Ministry of Finance, Rs 240.15 billion revenue has been collected in the first four months. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">The finance minister gave such directive after failing to meet the revenue target in the first four months. Explaining that the employees should not be pressurized to work with fear and intimidation, he stressed on creating favorable working conditions with respect to qualifications and abilities.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;&ldquo;The ministry provides support, facilitation and encouragement to solve difficulties and problems. If the goal is achieved, we respect it. If not, you should be punished,&rdquo; he said. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12708',
			'article_category_id' => '1',
			'title' => 'State-Owned Company to Extract Iron Using Locally Available Resources in Nawalparasi',
			'sub_title' => '',
			'summary' => 'November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: The state-owned Dhaubadhi Iron Limited has finalized the technology for extracting iron from its Nawalparasi-based mine after it was deemed commercially viable to extract ore from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A report prepared after sending samples of raw materials extracted from the mine to China for studying the prospects of commercial extraction has suggested using electric furnace for extracting&nbsp; iron.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The report suggested using electric furnace considering the utilization of electricity produced in the country. It is also possible to refine iron by using coal but it would incur additional cost to import coal. Therefore, the state-owned company is preparing to use electric furnace for extraction and refining of iron from the mine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of the company Krishna Dev Jha informed that China provided them the report about two weeks ago. Jha said that they will opt for electric furnace as per the recommendation of the report.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We will utilize the resources available in the country and rely less on imported products for extracting iron,&rdquo; said Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company is preparing to start the drilling process within the next two weeks (by mid-December) as it has already received the report. It has already selected a consulting firm for the purpose from within the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The consulting company will drill between 265 meters to 300 meters in five areas of Dhaubadhi and Pokhari where the mine is located. The quantity of iron which can be extracted from the mine will be ascertained after drilling.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, the company is also preparing to select international consultant company by issuing a public notice for conducting feasibility study and to prepare the detailed project report (DPR).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company will begin commercial production of iron only after completing all of the above mentioned processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO Jha informed that the company is preparing to set up a steel plant in Kawasoti of Nawalparasi district. They have already started acquiring 150 bigha land for setting up the factory, according to Jha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He further informed that 1,500 metric tons of iron can be produced on a daily basis after the company starts production.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government had been announcing financial support for the mine since the last few years, it could not be implemented as the report was yet to arrive from China.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company has received Rs 250 million during the last fiscal&nbsp; year while the government has allocated Rs 1.5 billion this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The federal government has been looking after the financial matters of the company which has been set up with a total capital of Rs 10 billion. The private sector has 45 percent stakes at the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The company was set up in public private partnership model after the government on August 20 decided to open a company specifically for extraction of mines.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12707',
			'article_category_id' => '1',
			'title' => 'Sugar Mills Preparing to Sell Electricity from this Season',
			'sub_title' => '',
			'summary' => 'November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: Three sugar mills are preparing to sell electricity to Nepal Electricity Authority this season. Everest Sugar Mills of Mahottari, Indu Shankar Sugar Mills of Sarlahi and Reliance Sugar Mills of Bara are making necessary preparations to sell the electricity that they produce themselves from the waste product of sugarcane. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Nepal Sugar Producers Association Sashikanta Agrawal said that they are preparing to sell electricity from this winter season when the government faces shortage of electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugar mills are planning to sell 7 megawatts of electricity this season. Agrawal says that they are in the final phase of preparation for selling the electricity which they produce from biomass. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We have already made preparations to connect the transmission line from the mills to the nearest sub-station,&rdquo; said Agrawal, who is the proprietor of Everest Sugar Mills. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Altogether three sugar mills are in a position to sell a total of 7 megawatts of electricity from this season,&rdquo; he added.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indu Shankar and Everest sugar mills have already taken permission from the Department of Electricity Development to produce 3 megawatts of electricity each. They have also signed an agreement with the NEA to purchase or sell electricity at the &ldquo;posted rate&rdquo; of Rs 8.4 per unit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, Reliance Sugar Mills, which has taken permission from the board to survey the possibility of producing 10 megawatts of electricity, is also preparing to sell excess of electricity from this season. The company, however, is yet to acquire license, informed Director General of the department Navin Raj Singh.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The sugar mills will be operational within a month. Operators of the mills say they will be in a position to sell electricity as soon as they start producing sugar. NEA says that it can purchase electricity from sugar mills with whom it has signed power purchase agreements (PPA).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sugar mills normally operate during the winter season from mid-December to mid-April. The electricity produced by sugar mills by burning biomass is considered of great significance, especially because the production of hydroelectricity is reduced to a great extent during winter season.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12706',
			'article_category_id' => '1',
			'title' => 'Nepal’s Bilateral Trade with China Shrinks by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'November 24: The government’s inability to fully operate Nepal’s customs points in the northern border is taking toll on trade between Nepal and China. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">November 24: The government&rsquo;s inability to fully operate Nepal&rsquo;s customs points in the northern border is taking toll on trade between Nepal and China. The disruption in movement of goods from the border points since late January has reduced the volume of trade with China, which is Nepal&rsquo;s second largest trade partner.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data made public by the Department of Customs, Nepal&rsquo;s bilateral trade with China declined by Rs 20 billion in the first four months of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department informed that the volume of bilateral trade with China during the review period was worth Rs 60.41 billion. Nepal&rsquo;s trade with China during the same period of last fiscal year was of Rs 80.89 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Both export and import with China had increased since the 2015 earthquake but the figures took a nosedive since coronavirus started spreading from China late last year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the review period of last fiscal year, Nepal exported goods worth Rs 710 million to China while it imported goods worth Rs 80.18 billion from the northern neighbor. This year, the import has been limited to Rs 60.12 billion while Nepal&rsquo;s export has also dropped to 209 million.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border transit points with China that were closed since January are yet to fully reopen. Only the Tatopani and Rasuwagadhi customs points are partially operational.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Hundreds of containers used to enter Nepal on a daily basis prior to the emergence of coronavirus. The entry of containers has dropped to hardly five per day at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s trade with&nbsp; China has been badly affected because Nepali containers are not allowed to go across the border to bring back goods, says Bachhu Poudel, chairman of Nepal Trans-Himalayan Border Commerce Association.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border which was completely closed in late January was brought into operation in May, according to the government. But the customs points have not become fully operational till date, says Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Hundreds of containers used to enter Nepal every day in the past but hardly five of them enter the country these days,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Customs informed that Nepal&rsquo;s overall foreign trade is returning back to normalcy although the customs points with China remain affected.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the department, the country has imported goods worth Rs 402 billion in the first four months of the current fiscal year, which&nbsp; is less than that of the last fiscal&nbsp; year by only ten percent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Customs Suman Dahal says that Nepal&rsquo;s foreign trade must be considered satisfactory because the government has adopted a policy of increasing exports and reducing imports.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12705',
			'article_category_id' => '1',
			'title' => 'Profit of Development Banks Shrinks by 25 Percent ',
			'sub_title' => '',
			'summary' => 'November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">November 23: The coronavirus pandemic has affected the entire banking sector of the country and has impacted the net profit of development banks. Out of 18 development banks, the net profit growth rate of seven development banks in the first quarter of the current fiscal year has been negative as compared to the previous fiscal year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the financial report of the first quarter made public by all the development banks, the total net profit till September was Rs 902.7 million while they made a profit of Rs 1.20 billion in the previous fiscal year. Compared to last year, the total net profit growth rate of development banks has shrunk by 25 percent. Three development banks have incurred net losses while the distributable profits of seven banks have turned negative.</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:Calibri">As the profit growth rate of Jyoti, Garima, Exel, Shangrila, Shine Resunga, Corporate, and Karnali Development Bank has been lower than last year, the overall net profit of the development banks has shrunk by about 26 percent. Despite the overall contraction in the bank&#39;s profit, the profit growth rate of the remaining 11 development banks are encouraging.</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:Calibri">Meanwhile, Muktinath Development Bank has made the highest profit among the development banks. The bank has managed to earn a net profit of Rs 294.159 million in the first quarter. In the corresponding period of the previous year, it earned a profit of Rs 228.7 million. Compared to last year, the bank&#39;s profit has increased by 22.23 percent. The distributable profit of the bank is Rs. 152.1 million. </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:Calibri">Pradyumna Pokharel, CEO of Muktinath Development Bank, informed that the bank has managed to earn net profit due to the increase in interest income.</span></span></span></span></p>

<p>&nbsp;</p>
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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

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