November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China.…
November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China.…
November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months…
November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions.…
November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment…
November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent…
November 4: Cimex Inc Pvt Ltd, a supplier that was in dispute for importing substandard electric buses, is now providing new electric buses to the government after two years.…
November 4: Finance Minister Bishnu Poudel has started reviewing the progress made in the implementation of the budget of the current fiscal year…
November 4: At a time when almost all businesses and industries have come to a standstill, the import of coal has surprisingly gone…
November 3: Nepal Rastra Bank (NRB) is preparing to auction development bonds with maturity period of one decade as per its schedule to raise internal loans in the current fiscal…
November 3: Most of the roads that had been damaged by floods and landslides during the monsoon season this year have been either fully or partially repaired and brought into operation. Some of them have been opened for one-way traffic.…
November 3: The government is unlikely to get chemical fertilizers even within the extended deadline because it awarded the contract to import fertilizers to a company that had not prior experience in importing…
November 3: A ‘protocol’ to send Nepali workers to Israel has been finalized as per the agreement signed between the two countries about a month…
November 3: Mountaineering and expedition have to some extent revitalized the tourism industry, which has been reeling under the effects of Covid-19 lockdown and restrictions.…
Commercial banks have only been able to flow 5.85 percent of their total credit to the agricultural sector in the first two months of the current fiscal…
November 2: Government authorities were planning to channelize the import and export of all goods from Birgunj through the Integrated Check Post (ICP).…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. Nepali importers say that goods worth billions of rupees have been stranded in China for months as only small amount of goods are sent through the border. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Nepali businessmen have repeatedly urged the Chinese authorities to send the goods they have already purchased, but the goods have not arrived from China. According to them, even the goods ordered for last winter were stranded in China. </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:"Times New Roman"">"The checkpoint has opened but the goods of have not arrived," said Bachchu Poudel, president of the Nepal Trans Himalayan Border Commerce Association, adding, "More than 75 percent of the goods bought by businessmen are stuck in China." </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:"Times New Roman"">Poudel said that the association had repeatedly requested the Chinese authorities to send the goods purchased by the businessmen but they did not listed to the plea. According to him, only 3 to 4 containers of goods are entering Nepal daily. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the new policy of health standards, not all the goods bought by the entrepreneurs have been able to enter to Nepal. According to the Tatopani Customs Office, only 19 containers of goods have been imported as of Wednesday (November 4) after the border reopened. </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:"Times New Roman"">At present, Chinese containers come to the old customs yard on the Nepal side to deliver the goods. Nepali loaders are allowed to bring the goods only after the Chinese workers return from the site.</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:"Times New Roman"">Lal Bahadur Khatri, chief of the Tatopani Customs Dry Port Office said that goods are being imported according to the new policy of health standards under which Nepali loaders have to stay in quarantine facility. They have to undergo PCR tests every fortnight to ensure that they are not infected. </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:"Times New Roman"">So far, only apples and readymade garments have been imported through the customs point, informed Khatri.</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:"Times New Roman"">At this pace, it will take almost one year for the goods bought by the Nepali importers to enter Nepal, added Khatri.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12388', 'image' => '20201105025427_1604533890.Clipboard09.jpg', 'article_date' => '2020-11-05 14:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12639', 'article_category_id' => '1', 'title' => 'Soybean Oil Replaces Palm Oil as Nepal’s Major Export Product ', 'sub_title' => '', 'summary' => 'November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the data kept by the Trade and Export Promotion Centre (TEPC), refined soybean oil has emerged as the main export product of Nepal in the first three months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The export of soybean oil accounts for 24.5 percent of the total export of Nepal. Soybean oil is exported to India in large quantity because the product enjoys customs waiver facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the last fiscal year, refined palm oil had topped the list of products exported from Nepal to India. Refined palm oil worth Rs 18.31 billion was exported to India in the fiscal year 2019/20. However, the export of palm oil to India came to a halt after the Foreign Trade Directorate of India scrapped the license of palm oil importers in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first three months of the current fiscal year, the export of soybean oil has increased by 414 percent. During the corresponding period of last fiscal year, Nepal had exported soybean oil worth Rs 1.47 billion. The export of the same product has gone up to Rs 7.6 billion in the review period of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industrialists increased production of soybean oil after India imposed a ban on it. The industrialists say that the export increases naturally once the production is increased.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Operator of Shree Ram Refinery Pradeep Muraraka says that there is high demand for soybean oil in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industries import soybean from Argentina, Brazil, Paraguay, Indonesia and Ukraine and then refine the product to produce soybean oil. The refined oil is then sold to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The local industries have imported soybean worth Rs 8.13 billion in the first three months of the current fiscal year. The import of soybean during the corresponding period of last fiscal year was worth Rs 3.18 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12387', 'image' => '20201105113227_1604533724.Clipboard15.jpg', 'article_date' => '2020-11-05 11:31:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12640', 'article_category_id' => '1', 'title' => 'Construction of Nagdhunga-Naubise Tunnel Project Gains Momentum', 'sub_title' => '', 'summary' => 'November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. A technical team of the contractor company Hamza Ando Corporation as well as necessary equipment have already arrived at the construction site. The work of digging the tunnel is expected to get completed within two weeks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Nagdhunga-Naubise Tunnel Project will start digging the tunnel from the western side at Sisnekhola. Later, the tunnel will also be dug from the eastern side or Kathmandu, informed acting project chief Naresh Man Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The timeframe for completion of the project had been delayed due to the problems in bringing machines and technical team to the field. Now, the work has been resumed to compensate for the delay.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The work could not be done as per the schedule. In order to avoid the possibility of extending the contract agreement, we have set a target to work accordingly to meet the deadline,” said Shakya, adding, “Looking at the current progress, the chances of delay are slim.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the agreement signed with the Department of Roads, the contractor must complete the project within 42 months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A 20-member technical team from Japan is arriving for drilling works while the process to bring in additional 20 technicians is underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The contractor company has already brought 300 tons of explosives to the construction site while its total requirement of explosives is 900 tons.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The foundation stone of the project was laid on October 21, 2019 but the main work of tunnel construction will begin only after a year. Currently, the project officials are building culverts and other supporting structures.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project officials claim that they will complete the work on time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project is being undertaken with the concessional loan provided by the Government of Japan. The total investment for the project is estimated to be around Rs 22 billion. JICA will invest Rs 16 billion while the Government of Nepal will contribute Rs 6 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The tunnel will be of 2.7 kilometers long and will have two flyovers. The project will also cover 3 kilometers of road. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Thankot-Naubise road section is currently 9 kilometers long. The distance will be shortened to 5.7 kilometers once the tunnel is constructed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/111%281%29%281%29.jpg" style="height:215px; width:800px" /></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12386', 'image' => '20201105124818_20200308111704_adahjj.jpg', 'article_date' => '2020-11-05 12:45:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12638', 'article_category_id' => '1', 'title' => 'Government Instructs Insurance Companies to Settle Covid-19 Insurance Claims within 7 Days', 'sub_title' => '', 'summary' => 'November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government issued such instructions in accordance to the laws related to coronavirus insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance on Tuesday (November 3) issued such directive to the Insurance Board. Following the instruction from the government, the Insurance Board on the same day issued a circular to all insurance companies telling them to settle the insurance claims of Covid-19 cases within the timeframe set by the law.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Insurance Board has clearly stated in the circular that all insurance companies must settle the claims within seven days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director of the Insurance Board Raju Raman Poudel informed that the board instructed the insurance companies to settle the claims within seven days as per the instruction of the finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We received a letter from the finance ministry in this regard on Tuesday. We then issued the circular the same day,” said Poudel, adding, “Hopefully, patients infected with coronavirus will now receive compensation on time. The pending claims will also be settled soon.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12385', 'image' => '20201104043538_1604447588.Clipboard12.jpg', 'article_date' => '2020-11-04 16:35:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12637', 'article_category_id' => '1', 'title' => 'NRB to Provide Refinancing Facility within mid-December', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown. The demand for the refinancing facility has currently reached Rs 113 billion.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The central bank had instructed Banks and Financial Institutions (BFIs) to submit applications for lump sum refinancing to old borrowers at concessional interest rates by the end of Ashoj (mid-October). The regulatory department of Nepal Rastra Bank is working on the analysis and evaluation of the applications received to provide refinancing facility in the coming month of Mangshir (mid-November to mid-December).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, the borrowers of 44 banks and financial institutions have applied for refinancing of up to Rs 72 billion as of the end of Ashoj (mid-October).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""> “Apart from this, there is a demand of Rs 41 billion from debtors. Out of the total demand of Rs 41 billion, the highest number of refinancing applications has been received from Bagmati Province,” he said, adding, “Work is being done to make the refinancing facility available by the end of Mangshir (mid-December).”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Out of the total refinancing facility of Rs 200 billion, 70 percent of refinancing facility will be given through commercial banks, development banks and finance companies in the current fiscal year. Meanwhile, 20 percent refinancing will be distributed by the central bank on the basis of its evaluation. The remaining 10 percent will be distributed through microfinance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Athough the central bank had announced opening of applications for refinancing from A, B, and C class banks in the last two months, the applications for refinancing through microfinance has not been opened. NRB Spokesperson Bhatta says that the first priority was initially given to the highly affected and moderately affected sectors like hotels, tourism, etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to him, only the current debtors affected by COVID-19 will be able to get such loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The repayment period of the borrower should be at least 1 year in order for them to be eligible for refinancing facility. In case of a borrower, who has availed a loan through more than one bank and financial institution, the application will be accepted only in a non-recurring manner.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks should include at least five customers and borrowers from each branch when selecting a loan for application. Nepal Rastra Bank has stated that it will not accept applications if they are submitted without following the proper procedures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Liquidity in the market is expected to rise highly after the one-time refinancing is given to those who meet the criteria. At present, there is liquidity of Rs 201 billion in the market. After disbursing the refinancing amount, the banks will have to reduce the interest rate on the loan given to the old borrower affected by COVID-19 to 5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The refinancing procedure provides loan amount of up to Rs 1.5 million as 'micro, home and small enterprise loans'. Refinancing given by prioritizing a sector will be considered as special refinancing. This includes exports, women entrepreneurs, enterprises and businesses run by differently abled individuals, and refinancing provided in areas affected by natural disasters. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The lump sum refinancing period will be limited to one year at most and such loan will not be renewed. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12384', 'image' => '20201104033822_1604447658.Clipboard17.jpg', 'article_date' => '2020-11-04 15:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12636', 'article_category_id' => '1', 'title' => 'Government to get new BYD Buses within a Month ', 'sub_title' => '', 'summary' => 'November 4: Cimex Inc Pvt Ltd, a supplier that was in dispute for importing substandard electric buses, is now providing new electric buses to the government after two years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 4: Cimex Inc Pvt Ltd, a supplier that was in dispute for importing substandard electric buses, is now providing new electric buses to the government after two years. </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:"Times New Roman"">The project head of the company Sahil Shrestha informed that the company will provide the electric buses to the government after completing the due processes within a month as per the agreement reached with the government.</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:"Times New Roman"">Stating that they are the mediator between Chinese manufacturer BYD and the Government of Nepal, he further informed that the vehicles have already reached Kolkata port. </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:"Times New Roman"">“Five big electric buses including 14 small ones have already arrived in Kolkata,” Shrestha said.</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:"Times New Roman"">Although Cimex Inc had promised to provide new buses within April, they were not able to do so due to coronavirus. </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:"Times New Roman"">Spokesperson of the Ministry of Tourism Kamal Prasad Bhattarai said that the buses will be operated in Lumbini after they have been tested.</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:"Times New Roman"">“The company has said that the buses have already arrived but technical tests are yet to be done. After doing the necessary tests, we will carry out the necessary processes to acquire the vehicles according to the agreement.” </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:"Times New Roman"">The buses were procured by the Ministry of Culture, Tourism and Civil Aviation under a grant from the Asian Development Bank (ADB) to operate electric buses from Gautam Buddha International Airport to Lumbini. </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:"Times New Roman"">The ministry had purchased those buses for Lumbini Development Trust from the Chinese company BYD. </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:"Times New Roman"">Out of Rs 290 million provided by the ADB, five buses were purchased for Rs 87.5 million. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12383', 'image' => '20201104021953_1BYD.jpg', 'article_date' => '2020-11-04 14:19:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12635', 'article_category_id' => '1', 'title' => 'Finance Minister Reviewing Status of Budget Implementation', 'sub_title' => '', 'summary' => 'November 4: Finance Minister Bishnu Poudel has started reviewing the progress made in the implementation of the budget of the current fiscal year 2020/21.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: Finance Minister Bishnu Poudel has started reviewing the progress made in the implementation of the budget of the current fiscal year 2020/21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Poudel, who was appointed as finance minister in mid-October, has started reviewing the progress with officials of various ministries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first phase, Finance Minister has held discussions regarding the implementation of budget – especially the capital expenditure – with the officials of the Ministry of Urban Development as well as the Ministry of Culture, Tourism and Civil Aviation, informed Yamlal Bhusal, joint secretary at finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Several ministries have not been able to perform their works in accordance to the target citing the coronavirus pandemic. In this context, Finance Minister Poudel has reportedly instructed the line ministries not to delay the implementation of budget on the pretext of Covid-19 crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He has also directed the ministries to complete their work in order to meet the target as per the work plan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During Monday’s meeting with authorities of the two ministries, Finance Minister Poudel instructed them to effectively implement the policies and programmes announced in the budget for the prevention coronavirus.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the meeting, secretaries of the two ministries requested the finance minister to facilitate in implementing the current budget instead of bringing new policies and programmes. They also stressed on the need to implement small and petty programmes through the provincial governments and the local units instead of the federal ministries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the finance ministry, the government has been able to spend only Rs 201 billion out of the total budget of Rs 1474 billion in the first three months of the current fiscal year. The government’s expenditure is just 13.63 percent of the total budget. The government had set a target to spend 20 percent of the total budget in the first quarter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The current expenditure of the government during the review period is Rs 182 billion while the capital expenditure is just Rs 15.4 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12382', 'image' => '20201104010905_1604447731.11.jpg', 'article_date' => '2020-11-04 13:08:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12634', 'article_category_id' => '1', 'title' => 'Import of Coal Up Despite Current Crisis', 'sub_title' => '', 'summary' => 'November 4: At a time when almost all businesses and industries have come to a standstill, the import of coal has surprisingly gone up.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: At a time when almost all businesses and industries have come to a standstill, the import of coal has surprisingly gone up. Coal is used as a raw material for preparing clinker, which is a vital component of cement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Data maintained by the Birgunj Customs Office shows that the import of coal has increased by 42 percent in the first three months of the current fiscal year compared to the corresponding period of last FY.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the customs office, 141,528 metric tons of coal worth Rs 1.88 billion was imported into the country during the review period. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Altogether 99,381 metric tons of coal worth Rs 1.42 billion was imported through Birgunj customs during the corresponding period of last fiscal year, according to Information Officer at the customs office Bimal Sah. Out of the country’s total import of coal, 50 percent of coal enters the country through Birgunj.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Stakeholders say that some industries have imported huge quantity of coal right now because the price of coal has dropped in the Indian market. One of the importers told New Business Age that although there isn’t much demand for cement in the market, they decided to import coal in large quantity to take advantage of the decline in its price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Madhav Rajpal, an importer of coal, claimed that the import of the product was increasing even during the lockdown period because the cement industry of Nepal has been expanding in recent years with more investment in the sector. He said that 70 percent of the imported coal will be used to make clinker while the remaining 30 percent is utilized by brick kilns.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12381', 'image' => '20201104114527_1604447282.Clipboard13.jpg', 'article_date' => '2020-11-04 11:44:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12633', 'article_category_id' => '1', 'title' => 'Central Bank to Auction Development Bonds worth Rs 20 Billion on Nov 4', 'sub_title' => '', 'summary' => 'November 3: Nepal Rastra Bank (NRB) is preparing to auction development bonds with maturity period of one decade as per its schedule to raise internal loans in the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Nepal Rastra Bank (NRB) is preparing to auction development bonds with maturity period of one decade as per its schedule to raise internal loans in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The central bank is all set to sell development bonds worth Rs 20 billion on November 4. The development bonds will have a maturity period of ten years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB decided to issue the bonds to assist the government’s target of raising internal loans of Rs 225 billion in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The National Debt Management Department of NRB will be issuing the Development Bond 2087 ‘D’ on behalf of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The interest rate of the development bond will be decided through bidding process. The development bonds, which will be issued in an auction, can be used as collateral to receive loan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Non-banking institutes as well as finance companies, insurance companies, formal sector organisations and Nepali citizens can purchase the development bond.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB Spokesperson Dr Gunakar Bhatta expects banks and financial institutes to purchase most of the development bonds this time due to Covid-19 crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The central bank had issued Treasury Bills worth Rs 1.66 billion on October 3 to raise internal loan.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12380', 'image' => '20201103050747_1604363729.Clipboard20.jpg', 'article_date' => '2020-11-03 17:07:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12632', 'article_category_id' => '1', 'title' => 'Most of the Roads Damaged during Monsoon have Become Operational: DoR', 'sub_title' => 'Department of Roads estimates Budget Requirement of Rs 3 Billion to Fully Repair the Roads', 'summary' => 'November 3: Most of the roads that had been damaged by floods and landslides during the monsoon season this year have been either fully or partially repaired and brought into operation. Some of them have been opened for one-way traffic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Most of the roads that had been damaged by floods and landslides during the monsoon season this year have been either fully or partially repaired and brought into operation. Some of them have been opened for one-way traffic. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the Department of Roads (DoR), altogether 253 sections of roads and highways were damaged by floods and landslides this year. Among them, 139 sections have been fully repaired while the remaining 112 areas have been partially reopened.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, two areas along the Sanfebagar-Martadi road section that was damaged on August 10 have not become operational yet. The Department of Roads informed that this road section sustained major damage in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Arniko Highway, which was worst affected by floods and landslides this year, has become partially operational with one-way traffic in some areas. More than 25 areas along the highway have been partially opened.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the initial estimates of DoR, it will cost more than Rs 3 billion to fully repair the roads and bridges damaged by floods and landslides. Arniko Highway alone will require Rs 1.5 billion for repair works, informed Shiva Hari Sapkota, spokesperson of the department.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Beni-Jomsom road also sustained major damages due to flood this year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the department, floods swept away large chunks of road as well as Bailey bridges and under-construction bridges during monsoon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Many areas of Siddhartha Highway, Pritivi Highway, BP Highway, Kanti Highway, Koshi Highway, Trishuli-Syafrubesi road section among others are still operating with one-way traffic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The department has requested for budget from the Finance Ministry through the Ministry of Physical Infrastructure and Transport in order to repair the roads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Although roads get damaged by floods and landslides every year, the government does not allocate budget specifically for this purpose. The budget for the repair works of roads is released from the additional expenses of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Infrastructure experts point out the need to identify the vulnerable spots and repair them during winter to minimize damages during the monsoon season.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12379', 'image' => '20201103032211_1604363440.2 Road news.jpg', 'article_date' => '2020-11-03 15:21:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12631', 'article_category_id' => '1', 'title' => 'Sailung Enterprises unlikely to Import Fertilizer within Extended Deadline', 'sub_title' => '', 'summary' => 'November 3: The government is unlikely to get chemical fertilizers even within the extended deadline because it awarded the contract to import fertilizers to a company that had not prior experience in importing fertilizers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">November 3: The government is unlikely to get chemical fertilizers even within the extended deadline because it awarded the contract to import fertilizers to a company that had not prior experience in importing fertilizers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Sailung Enterprises, which was awarded the contract to import 30,000 metric tons of urea, has not been able to bring the fertilizer even as the deadline of contract is about to expire. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The deadline for Sailung Enterprises was extended for the second time to import 30,000 metric tons of urea even though it failed not bring 25,000 metric tons of urea within the initial deadline. Due to the inordinate delay, the farmers could not get chemical fertilizers during the wheat cultivation season. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Only a week is left for the contract agreement expire. However, the company has not brought the fertilizers yet. Sailung Enterprises was awarded the contract to import the fertilizers on July 2. Even after 110 days of getting the contract, the company has not been able to bring fertilizers yet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bishnu Pokharel of Agriculture Inputs Company Limited informed that the company should bring the fertilizers within the extended deadline.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">But he added that the possibility of Sailung Enterprises bringing the fertilizers is extremely low this time as well. He said that the contract was given to the wrong company for the purchase of fertilizers. Pokharel added that they were unaware about as the weaknesses of the company before. It is widely believed that an inexperienced company was given the responsibility of importing fertilizer due to political pressure. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12378', 'image' => '20201103014514_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2020-11-03 13:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12630', 'article_category_id' => '1', 'title' => 'Nepal, Israel Prepare Protocol for Migrant Workers', 'sub_title' => '', 'summary' => 'November 3: A ‘protocol’ to send Nepali workers to Israel has been finalized as per the agreement signed between the two countries about a month ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: A ‘protocol’ to send Nepali workers to Israel has been finalized as per the agreement signed between the two countries about a month ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">High-ranking officials of the two countries prepared the protocol after almost a month of negotiations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The protocol mentions about issues like the process of sending workers to Israel, their qualification, perks and benefits in accordance to the labour agreement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The protocol focuses on sending Nepali workers to the health sector of Israel and has specified food and accommodation for them.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Besides the health sector, the Nepali workers will also get opportunities to work in hotels and restaurants, agriculture sector, construction works among others.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali workers willing to go to Israel for work will have to pay the visa fee, medical test fee as well as orientation charge and a certain amount to the welfare fund themselves, as per the protocol.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Director General of the Department of Foreign Employment Kumar Dahal, who represented the Nepali side during negotiations with Israel, says that the two countries prepared the protocol on the basis of the labour pact.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">However, Dahal informed that the two countries are yet to endorse the protocol.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Representatives of the two countries will endorse the protocol immediately after Tihar. The process of sending workers to Israel will begin soon after endorsing it,” said Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to Dahal, 500 Nepali workers will be sent to Israel in the first phase. The Department of Foreign Employment is finalizing a separate work procedure for it, informed Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We are finalizing a work procedure to implement the labour agreement and the protocol. It will be ready soon,” said Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal had also signed a labour pact with Israel in 2015. Back then, very few Nepalis had gone to Israel for work. Israel had agreed to take nurses and care givers having three months of training but the agreement could not be implemented for a long time.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12377', 'image' => '20201103121620_nepal-israel-inks-labor-agreement.jpg', 'article_date' => '2020-11-03 12:15:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12629', 'article_category_id' => '1', 'title' => 'High-Profile Visits for Mountaineering Give Silver Lining to the ailing Tourism Industry ', 'sub_title' => '', 'summary' => 'November 3: Mountaineering and expedition have to some extent revitalized the tourism industry, which has been reeling under the effects of Covid-19 lockdown and restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Mountaineering and expedition have to some extent revitalized the tourism industry, which has been reeling under the effects of Covid-19 lockdown and restrictions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Government officials and entrepreneurs believe that the arrival of high-profile foreign delegates for climbing mountains has given a positive message to the tourism sector of Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/1604362035.23.jpg" style="height:237px; width:320px" /></span></span></span></p> <p><span style="font-size:14px"><em><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Qatar’s prince Sheikh Mohammad Bin Abdullah</span></span></em></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Qatar’s prince Sheikh Mohammad Bin Abdullah has already reached the base camp of Mt Ama Dablam to scale the 6,814-meter peak. A 14-member team of Prince Abdullah reached the base camp on Sunday (November 1). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Department of Tourism informed that the expedition team of Prince Abdullah includes six climbers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, a six-member Nepali team has also scaled Baruntse amid coronavirus pandemic. Likewise, two other expedition teams have received permission to scale 6151-meter high Gyalzen Peal and 7126-meter high Himlung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Recently, the Royal Force team of Baharain’s prince Nasir Bin Hamid Al Khalifa successfully scaled 8163-meter high Manaslu.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the Department of Tourism, the government has granted permission to five expedition teams to climb mountain amid coronavirus crisis. The department informed that two out of the five teams have already completed their missions. The department has collected royalties of Rs 2.3 million for granting permission for the expedition teams to climb mountains.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the arrival of high-profile teams for scaling mountains amid coronavirus pandemic has given a message that Nepal is a safe destination for tourism.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The visits of princes of Qatar and Baharain for mountain expeditions have given a clear message that Nepal is safe for visit during coronavirus crisis. Now, the government is preparing to open other sectors associated with the tourism industry,” said Minister Bhattarai.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung believes that the arrival of tourists for climbing mountains at a time when tourists visiting Nepal has been almost nil gives a positive message.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Tourism entrepreneurs have urged the government to make arrangements for PCR tests for the tourists at the airport arguing that the provision for 6-day hotel quarantine for the visitors will only lead to a decline in number of tourists.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12376', 'image' => '20201103110350_20180726031935_thamsherku.jpg', 'article_date' => '2020-11-03 11:02:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12628', 'article_category_id' => '1', 'title' => 'Loans Worth Rs 191 billion Disbursed to the Agriculture Sector', 'sub_title' => '5.85 percent of the total credit disbursed to agriculture so far this year', 'summary' => 'Commercial banks have only been able to flow 5.85 percent of their total credit to the agricultural sector in the first two months of the current fiscal year.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 2: Although the monetary policy of the current fiscal year has introduced a provision for commercial banks to increase the minimum percentage of the total credit to be disbursed to the agricultural sector from 10 percent to 15 percent, the commercial banks have only been able to flow 5.85 percent of their total credit to the agricultural sector in the first two months of the current fiscal year.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">By the end of Bhadra (mid-September) of the last year, a total credit of Rs 3 trillion 274 billion and 970 million was disbursed from commercial banks, development banks and finance companies. Out of the total loan, Rs 191.72 billion was been disbursed for the agricultural sector. In the past, 10 percent of credit for the agriculture sector was mandatory. However, the central bank is optimistic about the current credit flow to the agricultural sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Nepal Rastra Bank has stated that even amid the pandemic, the agricultural credit has increased by Rs 26.73 billion. According to the Banks and Financial Institutions Regulation Department of the central bank, the total sectoral credit stood at Rs 2 trillion 976 billion and 740 million out of which, Rs 164.98 billion was disbursed to the agricultural sector in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The monthly data published by the Department of Banking and Financial Institutions Regulation of NRB classifies credit for agriculture, forestry and fishery as agricultural loans. Namely, 'agricultural sector' covers grains, vegetables and other cash crops, tobacco, hemp, fruits and floriculture, poultry and bee keeping, manure and pesticides, cold storage, irrigation, forest, livestock or poultry farming, among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">However, the statistics department of Nepal Rastra Bank informs that the statistics of concessional agricultural loans and priority agricultural loans have not been included in the data of agricultural credit flow. Preferential agricultural loans include pure agricultural loans as well as loans for the purchase of materials for production, tea and coffee production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">As per the data of Nepal Rastra Bank by the end of Bhadra (mid-September), the Agriculture Development Bank has the largest share in the disbursement of agriculture and forestry loans amongst all commercial banks, development banks and finance companies. The Agriculture Development Bank has the highest share of 16.57 percent (Rs 28.655 billion) of the total agricultural loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Hemlal Poudyal, spokesperson of the bank, said that the bank has emphasized on the flow of agricultural loans without collateral under concessional loans by taking risks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">NIC Asia Bank has disbursed 9.1 percent (Rs 15.592 billion) of the total agricultural credit. The bank, which has been aggressive in credit flow, has also disbursed agricultural credit well.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">NIC Asia Bank is also the first bank to disburse the most loans in the first quarter of the current fiscal year. Arjun Raj Khaniya, head of public relations at NIC Asia Bank, says that the overall loan investment of the bank has increased due to the increase in the number of branch offices and extension counters across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Rastriya Banijya Bank has disbursed 7.74 percent (Rs 13.39 billion) of the total agricultural credit. The commercial banks that disburse more agricultural credit are Prime Bank, Nepal Investment Bank, Siddhartha Bank, Global IME Bank, Sunrise Bank and Nepal Bank respectively. Agricultural credit worth Rs 19.439 billion was disbursed from 19 development banks. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-02', 'modified' => '2020-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '12375', 'image' => '20201102053004_20200512091924_20190527010000_Makai.jpg', 'article_date' => '2020-11-02 17:29:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12627', 'article_category_id' => '1', 'title' => 'Government yet to Integrate all Customs Facilities in Birgunj despite operation of ICP', 'sub_title' => '', 'summary' => 'November 2: Government authorities were planning to channelize the import and export of all goods from Birgunj through the Integrated Check Post (ICP). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 2: Government authorities were planning to channelize the import and export of all goods from Birgunj through the Integrated Check Post (ICP). However, even after three years of operation of the ICP, this objective has not been achieved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The goal of making the import and export transparent by merging the old customs point at the Birgunj-Raxaul border and the Birgunj Dry Port with the ICP has been largely neglected so far. After the closure of the Nepal-India border during the coronavirus pandemic, most of the trade taking place throug the Birgunj-Raxaul-Inarwa transit point has been shifted to the ICP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Birgunj Customs Officer Ramesh Sukmani said that most of the customs work has been concentrated in the ICP after March as the border was closed due to coronavirus pandemic. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">"Most of the import and export businesses are now being done through the ICP. More than 99 percent of the goods are cleared through the ICP,” he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">At present, only a small quantity of petroleum products, vegetables, clinker, coal, iron ore and some other goods are imported through Inarwa. The Birgunj Customs had also started construction of infrastructure with scanners to shift the import-export trade to ICP by making Inarwa a passenger transit point. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">It has been almost a year since the decision was taken to shift the dry port to the ICP. However, no progress has been seen in the decision of the Council of Ministers to merge these customs facilities. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-02', 'modified' => '2020-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '12374', 'image' => '20201102032513_1604275088.Clipboard11.jpg', 'article_date' => '2020-11-02 15:24:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. Nepali importers say that goods worth billions of rupees have been stranded in China for months as only small amount of goods are sent through the border. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Nepali businessmen have repeatedly urged the Chinese authorities to send the goods they have already purchased, but the goods have not arrived from China. According to them, even the goods ordered for last winter were stranded in China. </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:"Times New Roman"">"The checkpoint has opened but the goods of have not arrived," said Bachchu Poudel, president of the Nepal Trans Himalayan Border Commerce Association, adding, "More than 75 percent of the goods bought by businessmen are stuck in China." </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:"Times New Roman"">Poudel said that the association had repeatedly requested the Chinese authorities to send the goods purchased by the businessmen but they did not listed to the plea. According to him, only 3 to 4 containers of goods are entering Nepal daily. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the new policy of health standards, not all the goods bought by the entrepreneurs have been able to enter to Nepal. According to the Tatopani Customs Office, only 19 containers of goods have been imported as of Wednesday (November 4) after the border reopened. </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:"Times New Roman"">At present, Chinese containers come to the old customs yard on the Nepal side to deliver the goods. Nepali loaders are allowed to bring the goods only after the Chinese workers return from the site.</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:"Times New Roman"">Lal Bahadur Khatri, chief of the Tatopani Customs Dry Port Office said that goods are being imported according to the new policy of health standards under which Nepali loaders have to stay in quarantine facility. They have to undergo PCR tests every fortnight to ensure that they are not infected. </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:"Times New Roman"">So far, only apples and readymade garments have been imported through the customs point, informed Khatri.</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:"Times New Roman"">At this pace, it will take almost one year for the goods bought by the Nepali importers to enter Nepal, added Khatri.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12388', 'image' => '20201105025427_1604533890.Clipboard09.jpg', 'article_date' => '2020-11-05 14:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12639', 'article_category_id' => '1', 'title' => 'Soybean Oil Replaces Palm Oil as Nepal’s Major Export Product ', 'sub_title' => '', 'summary' => 'November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the data kept by the Trade and Export Promotion Centre (TEPC), refined soybean oil has emerged as the main export product of Nepal in the first three months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The export of soybean oil accounts for 24.5 percent of the total export of Nepal. Soybean oil is exported to India in large quantity because the product enjoys customs waiver facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the last fiscal year, refined palm oil had topped the list of products exported from Nepal to India. Refined palm oil worth Rs 18.31 billion was exported to India in the fiscal year 2019/20. However, the export of palm oil to India came to a halt after the Foreign Trade Directorate of India scrapped the license of palm oil importers in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first three months of the current fiscal year, the export of soybean oil has increased by 414 percent. During the corresponding period of last fiscal year, Nepal had exported soybean oil worth Rs 1.47 billion. The export of the same product has gone up to Rs 7.6 billion in the review period of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industrialists increased production of soybean oil after India imposed a ban on it. The industrialists say that the export increases naturally once the production is increased.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Operator of Shree Ram Refinery Pradeep Muraraka says that there is high demand for soybean oil in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industries import soybean from Argentina, Brazil, Paraguay, Indonesia and Ukraine and then refine the product to produce soybean oil. The refined oil is then sold to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The local industries have imported soybean worth Rs 8.13 billion in the first three months of the current fiscal year. The import of soybean during the corresponding period of last fiscal year was worth Rs 3.18 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12387', 'image' => '20201105113227_1604533724.Clipboard15.jpg', 'article_date' => '2020-11-05 11:31:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12640', 'article_category_id' => '1', 'title' => 'Construction of Nagdhunga-Naubise Tunnel Project Gains Momentum', 'sub_title' => '', 'summary' => 'November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. A technical team of the contractor company Hamza Ando Corporation as well as necessary equipment have already arrived at the construction site. The work of digging the tunnel is expected to get completed within two weeks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Nagdhunga-Naubise Tunnel Project will start digging the tunnel from the western side at Sisnekhola. Later, the tunnel will also be dug from the eastern side or Kathmandu, informed acting project chief Naresh Man Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The timeframe for completion of the project had been delayed due to the problems in bringing machines and technical team to the field. Now, the work has been resumed to compensate for the delay.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The work could not be done as per the schedule. In order to avoid the possibility of extending the contract agreement, we have set a target to work accordingly to meet the deadline,” said Shakya, adding, “Looking at the current progress, the chances of delay are slim.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the agreement signed with the Department of Roads, the contractor must complete the project within 42 months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A 20-member technical team from Japan is arriving for drilling works while the process to bring in additional 20 technicians is underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The contractor company has already brought 300 tons of explosives to the construction site while its total requirement of explosives is 900 tons.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The foundation stone of the project was laid on October 21, 2019 but the main work of tunnel construction will begin only after a year. Currently, the project officials are building culverts and other supporting structures.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project officials claim that they will complete the work on time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project is being undertaken with the concessional loan provided by the Government of Japan. The total investment for the project is estimated to be around Rs 22 billion. JICA will invest Rs 16 billion while the Government of Nepal will contribute Rs 6 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The tunnel will be of 2.7 kilometers long and will have two flyovers. The project will also cover 3 kilometers of road. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Thankot-Naubise road section is currently 9 kilometers long. The distance will be shortened to 5.7 kilometers once the tunnel is constructed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/111%281%29%281%29.jpg" style="height:215px; width:800px" /></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12386', 'image' => '20201105124818_20200308111704_adahjj.jpg', 'article_date' => '2020-11-05 12:45:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12638', 'article_category_id' => '1', 'title' => 'Government Instructs Insurance Companies to Settle Covid-19 Insurance Claims within 7 Days', 'sub_title' => '', 'summary' => 'November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government issued such instructions in accordance to the laws related to coronavirus insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance on Tuesday (November 3) issued such directive to the Insurance Board. Following the instruction from the government, the Insurance Board on the same day issued a circular to all insurance companies telling them to settle the insurance claims of Covid-19 cases within the timeframe set by the law.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Insurance Board has clearly stated in the circular that all insurance companies must settle the claims within seven days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director of the Insurance Board Raju Raman Poudel informed that the board instructed the insurance companies to settle the claims within seven days as per the instruction of the finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We received a letter from the finance ministry in this regard on Tuesday. We then issued the circular the same day,” said Poudel, adding, “Hopefully, patients infected with coronavirus will now receive compensation on time. The pending claims will also be settled soon.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12385', 'image' => '20201104043538_1604447588.Clipboard12.jpg', 'article_date' => '2020-11-04 16:35:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12637', 'article_category_id' => '1', 'title' => 'NRB to Provide Refinancing Facility within mid-December', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown. The demand for the refinancing facility has currently reached Rs 113 billion.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The central bank had instructed Banks and Financial Institutions (BFIs) to submit applications for lump sum refinancing to old borrowers at concessional interest rates by the end of Ashoj (mid-October). The regulatory department of Nepal Rastra Bank is working on the analysis and evaluation of the applications received to provide refinancing facility in the coming month of Mangshir (mid-November to mid-December).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, the borrowers of 44 banks and financial institutions have applied for refinancing of up to Rs 72 billion as of the end of Ashoj (mid-October).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""> “Apart from this, there is a demand of Rs 41 billion from debtors. Out of the total demand of Rs 41 billion, the highest number of refinancing applications has been received from Bagmati Province,” he said, adding, “Work is being done to make the refinancing facility available by the end of Mangshir (mid-December).”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Out of the total refinancing facility of Rs 200 billion, 70 percent of refinancing facility will be given through commercial banks, development banks and finance companies in the current fiscal year. Meanwhile, 20 percent refinancing will be distributed by the central bank on the basis of its evaluation. The remaining 10 percent will be distributed through microfinance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Athough the central bank had announced opening of applications for refinancing from A, B, and C class banks in the last two months, the applications for refinancing through microfinance has not been opened. NRB Spokesperson Bhatta says that the first priority was initially given to the highly affected and moderately affected sectors like hotels, tourism, etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to him, only the current debtors affected by COVID-19 will be able to get such loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The repayment period of the borrower should be at least 1 year in order for them to be eligible for refinancing facility. In case of a borrower, who has availed a loan through more than one bank and financial institution, the application will be accepted only in a non-recurring manner.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks should include at least five customers and borrowers from each branch when selecting a loan for application. Nepal Rastra Bank has stated that it will not accept applications if they are submitted without following the proper procedures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Liquidity in the market is expected to rise highly after the one-time refinancing is given to those who meet the criteria. At present, there is liquidity of Rs 201 billion in the market. After disbursing the refinancing amount, the banks will have to reduce the interest rate on the loan given to the old borrower affected by COVID-19 to 5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The refinancing procedure provides loan amount of up to Rs 1.5 million as 'micro, home and small enterprise loans'. Refinancing given by prioritizing a sector will be considered as special refinancing. This includes exports, women entrepreneurs, enterprises and businesses run by differently abled individuals, and refinancing provided in areas affected by natural disasters. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The lump sum refinancing period will be limited to one year at most and such loan will not be renewed. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12384', 'image' => '20201104033822_1604447658.Clipboard17.jpg', 'article_date' => '2020-11-04 15:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12636', 'article_category_id' => '1', 'title' => 'Government to get new BYD Buses within a Month ', 'sub_title' => '', 'summary' => 'November 4: Cimex Inc Pvt Ltd, a supplier that was in dispute for importing substandard electric buses, is now providing new electric buses to the government after two years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 4: Cimex Inc Pvt Ltd, a supplier that was in dispute for importing substandard electric buses, is now providing new electric buses to the government after two years. </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:"Times New Roman"">The project head of the company Sahil Shrestha informed that the company will provide the electric buses to the government after completing the due processes within a month as per the agreement reached with the government.</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:"Times New Roman"">Stating that they are the mediator between Chinese manufacturer BYD and the Government of Nepal, he further informed that the vehicles have already reached Kolkata port. </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:"Times New Roman"">“Five big electric buses including 14 small ones have already arrived in Kolkata,” Shrestha said.</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:"Times New Roman"">Although Cimex Inc had promised to provide new buses within April, they were not able to do so due to coronavirus. </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:"Times New Roman"">Spokesperson of the Ministry of Tourism Kamal Prasad Bhattarai said that the buses will be operated in Lumbini after they have been tested.</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:"Times New Roman"">“The company has said that the buses have already arrived but technical tests are yet to be done. After doing the necessary tests, we will carry out the necessary processes to acquire the vehicles according to the agreement.” </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:"Times New Roman"">The buses were procured by the Ministry of Culture, Tourism and Civil Aviation under a grant from the Asian Development Bank (ADB) to operate electric buses from Gautam Buddha International Airport to Lumbini. </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:"Times New Roman"">The ministry had purchased those buses for Lumbini Development Trust from the Chinese company BYD. </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:"Times New Roman"">Out of Rs 290 million provided by the ADB, five buses were purchased for Rs 87.5 million. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12383', 'image' => '20201104021953_1BYD.jpg', 'article_date' => '2020-11-04 14:19:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12635', 'article_category_id' => '1', 'title' => 'Finance Minister Reviewing Status of Budget Implementation', 'sub_title' => '', 'summary' => 'November 4: Finance Minister Bishnu Poudel has started reviewing the progress made in the implementation of the budget of the current fiscal year 2020/21.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: Finance Minister Bishnu Poudel has started reviewing the progress made in the implementation of the budget of the current fiscal year 2020/21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Poudel, who was appointed as finance minister in mid-October, has started reviewing the progress with officials of various ministries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first phase, Finance Minister has held discussions regarding the implementation of budget – especially the capital expenditure – with the officials of the Ministry of Urban Development as well as the Ministry of Culture, Tourism and Civil Aviation, informed Yamlal Bhusal, joint secretary at finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Several ministries have not been able to perform their works in accordance to the target citing the coronavirus pandemic. In this context, Finance Minister Poudel has reportedly instructed the line ministries not to delay the implementation of budget on the pretext of Covid-19 crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He has also directed the ministries to complete their work in order to meet the target as per the work plan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During Monday’s meeting with authorities of the two ministries, Finance Minister Poudel instructed them to effectively implement the policies and programmes announced in the budget for the prevention coronavirus.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the meeting, secretaries of the two ministries requested the finance minister to facilitate in implementing the current budget instead of bringing new policies and programmes. They also stressed on the need to implement small and petty programmes through the provincial governments and the local units instead of the federal ministries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the finance ministry, the government has been able to spend only Rs 201 billion out of the total budget of Rs 1474 billion in the first three months of the current fiscal year. The government’s expenditure is just 13.63 percent of the total budget. The government had set a target to spend 20 percent of the total budget in the first quarter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The current expenditure of the government during the review period is Rs 182 billion while the capital expenditure is just Rs 15.4 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12382', 'image' => '20201104010905_1604447731.11.jpg', 'article_date' => '2020-11-04 13:08:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12634', 'article_category_id' => '1', 'title' => 'Import of Coal Up Despite Current Crisis', 'sub_title' => '', 'summary' => 'November 4: At a time when almost all businesses and industries have come to a standstill, the import of coal has surprisingly gone up.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: At a time when almost all businesses and industries have come to a standstill, the import of coal has surprisingly gone up. Coal is used as a raw material for preparing clinker, which is a vital component of cement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Data maintained by the Birgunj Customs Office shows that the import of coal has increased by 42 percent in the first three months of the current fiscal year compared to the corresponding period of last FY.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the customs office, 141,528 metric tons of coal worth Rs 1.88 billion was imported into the country during the review period. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Altogether 99,381 metric tons of coal worth Rs 1.42 billion was imported through Birgunj customs during the corresponding period of last fiscal year, according to Information Officer at the customs office Bimal Sah. Out of the country’s total import of coal, 50 percent of coal enters the country through Birgunj.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Stakeholders say that some industries have imported huge quantity of coal right now because the price of coal has dropped in the Indian market. One of the importers told New Business Age that although there isn’t much demand for cement in the market, they decided to import coal in large quantity to take advantage of the decline in its price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Madhav Rajpal, an importer of coal, claimed that the import of the product was increasing even during the lockdown period because the cement industry of Nepal has been expanding in recent years with more investment in the sector. He said that 70 percent of the imported coal will be used to make clinker while the remaining 30 percent is utilized by brick kilns.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12381', 'image' => '20201104114527_1604447282.Clipboard13.jpg', 'article_date' => '2020-11-04 11:44:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12633', 'article_category_id' => '1', 'title' => 'Central Bank to Auction Development Bonds worth Rs 20 Billion on Nov 4', 'sub_title' => '', 'summary' => 'November 3: Nepal Rastra Bank (NRB) is preparing to auction development bonds with maturity period of one decade as per its schedule to raise internal loans in the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Nepal Rastra Bank (NRB) is preparing to auction development bonds with maturity period of one decade as per its schedule to raise internal loans in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The central bank is all set to sell development bonds worth Rs 20 billion on November 4. The development bonds will have a maturity period of ten years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB decided to issue the bonds to assist the government’s target of raising internal loans of Rs 225 billion in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The National Debt Management Department of NRB will be issuing the Development Bond 2087 ‘D’ on behalf of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The interest rate of the development bond will be decided through bidding process. The development bonds, which will be issued in an auction, can be used as collateral to receive loan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Non-banking institutes as well as finance companies, insurance companies, formal sector organisations and Nepali citizens can purchase the development bond.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB Spokesperson Dr Gunakar Bhatta expects banks and financial institutes to purchase most of the development bonds this time due to Covid-19 crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The central bank had issued Treasury Bills worth Rs 1.66 billion on October 3 to raise internal loan.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12380', 'image' => '20201103050747_1604363729.Clipboard20.jpg', 'article_date' => '2020-11-03 17:07:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12632', 'article_category_id' => '1', 'title' => 'Most of the Roads Damaged during Monsoon have Become Operational: DoR', 'sub_title' => 'Department of Roads estimates Budget Requirement of Rs 3 Billion to Fully Repair the Roads', 'summary' => 'November 3: Most of the roads that had been damaged by floods and landslides during the monsoon season this year have been either fully or partially repaired and brought into operation. Some of them have been opened for one-way traffic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Most of the roads that had been damaged by floods and landslides during the monsoon season this year have been either fully or partially repaired and brought into operation. Some of them have been opened for one-way traffic. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the Department of Roads (DoR), altogether 253 sections of roads and highways were damaged by floods and landslides this year. Among them, 139 sections have been fully repaired while the remaining 112 areas have been partially reopened.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, two areas along the Sanfebagar-Martadi road section that was damaged on August 10 have not become operational yet. The Department of Roads informed that this road section sustained major damage in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Arniko Highway, which was worst affected by floods and landslides this year, has become partially operational with one-way traffic in some areas. More than 25 areas along the highway have been partially opened.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the initial estimates of DoR, it will cost more than Rs 3 billion to fully repair the roads and bridges damaged by floods and landslides. Arniko Highway alone will require Rs 1.5 billion for repair works, informed Shiva Hari Sapkota, spokesperson of the department.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Beni-Jomsom road also sustained major damages due to flood this year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the department, floods swept away large chunks of road as well as Bailey bridges and under-construction bridges during monsoon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Many areas of Siddhartha Highway, Pritivi Highway, BP Highway, Kanti Highway, Koshi Highway, Trishuli-Syafrubesi road section among others are still operating with one-way traffic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The department has requested for budget from the Finance Ministry through the Ministry of Physical Infrastructure and Transport in order to repair the roads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Although roads get damaged by floods and landslides every year, the government does not allocate budget specifically for this purpose. The budget for the repair works of roads is released from the additional expenses of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Infrastructure experts point out the need to identify the vulnerable spots and repair them during winter to minimize damages during the monsoon season.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12379', 'image' => '20201103032211_1604363440.2 Road news.jpg', 'article_date' => '2020-11-03 15:21:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12631', 'article_category_id' => '1', 'title' => 'Sailung Enterprises unlikely to Import Fertilizer within Extended Deadline', 'sub_title' => '', 'summary' => 'November 3: The government is unlikely to get chemical fertilizers even within the extended deadline because it awarded the contract to import fertilizers to a company that had not prior experience in importing fertilizers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">November 3: The government is unlikely to get chemical fertilizers even within the extended deadline because it awarded the contract to import fertilizers to a company that had not prior experience in importing fertilizers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Sailung Enterprises, which was awarded the contract to import 30,000 metric tons of urea, has not been able to bring the fertilizer even as the deadline of contract is about to expire. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The deadline for Sailung Enterprises was extended for the second time to import 30,000 metric tons of urea even though it failed not bring 25,000 metric tons of urea within the initial deadline. Due to the inordinate delay, the farmers could not get chemical fertilizers during the wheat cultivation season. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Only a week is left for the contract agreement expire. However, the company has not brought the fertilizers yet. Sailung Enterprises was awarded the contract to import the fertilizers on July 2. Even after 110 days of getting the contract, the company has not been able to bring fertilizers yet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bishnu Pokharel of Agriculture Inputs Company Limited informed that the company should bring the fertilizers within the extended deadline.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">But he added that the possibility of Sailung Enterprises bringing the fertilizers is extremely low this time as well. He said that the contract was given to the wrong company for the purchase of fertilizers. Pokharel added that they were unaware about as the weaknesses of the company before. It is widely believed that an inexperienced company was given the responsibility of importing fertilizer due to political pressure. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12378', 'image' => '20201103014514_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2020-11-03 13:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12630', 'article_category_id' => '1', 'title' => 'Nepal, Israel Prepare Protocol for Migrant Workers', 'sub_title' => '', 'summary' => 'November 3: A ‘protocol’ to send Nepali workers to Israel has been finalized as per the agreement signed between the two countries about a month ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: A ‘protocol’ to send Nepali workers to Israel has been finalized as per the agreement signed between the two countries about a month ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">High-ranking officials of the two countries prepared the protocol after almost a month of negotiations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The protocol mentions about issues like the process of sending workers to Israel, their qualification, perks and benefits in accordance to the labour agreement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The protocol focuses on sending Nepali workers to the health sector of Israel and has specified food and accommodation for them.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Besides the health sector, the Nepali workers will also get opportunities to work in hotels and restaurants, agriculture sector, construction works among others.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali workers willing to go to Israel for work will have to pay the visa fee, medical test fee as well as orientation charge and a certain amount to the welfare fund themselves, as per the protocol.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Director General of the Department of Foreign Employment Kumar Dahal, who represented the Nepali side during negotiations with Israel, says that the two countries prepared the protocol on the basis of the labour pact.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">However, Dahal informed that the two countries are yet to endorse the protocol.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Representatives of the two countries will endorse the protocol immediately after Tihar. The process of sending workers to Israel will begin soon after endorsing it,” said Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to Dahal, 500 Nepali workers will be sent to Israel in the first phase. The Department of Foreign Employment is finalizing a separate work procedure for it, informed Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We are finalizing a work procedure to implement the labour agreement and the protocol. It will be ready soon,” said Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal had also signed a labour pact with Israel in 2015. Back then, very few Nepalis had gone to Israel for work. Israel had agreed to take nurses and care givers having three months of training but the agreement could not be implemented for a long time.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12377', 'image' => '20201103121620_nepal-israel-inks-labor-agreement.jpg', 'article_date' => '2020-11-03 12:15:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12629', 'article_category_id' => '1', 'title' => 'High-Profile Visits for Mountaineering Give Silver Lining to the ailing Tourism Industry ', 'sub_title' => '', 'summary' => 'November 3: Mountaineering and expedition have to some extent revitalized the tourism industry, which has been reeling under the effects of Covid-19 lockdown and restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Mountaineering and expedition have to some extent revitalized the tourism industry, which has been reeling under the effects of Covid-19 lockdown and restrictions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Government officials and entrepreneurs believe that the arrival of high-profile foreign delegates for climbing mountains has given a positive message to the tourism sector of Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/1604362035.23.jpg" style="height:237px; width:320px" /></span></span></span></p> <p><span style="font-size:14px"><em><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Qatar’s prince Sheikh Mohammad Bin Abdullah</span></span></em></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Qatar’s prince Sheikh Mohammad Bin Abdullah has already reached the base camp of Mt Ama Dablam to scale the 6,814-meter peak. A 14-member team of Prince Abdullah reached the base camp on Sunday (November 1). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Department of Tourism informed that the expedition team of Prince Abdullah includes six climbers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, a six-member Nepali team has also scaled Baruntse amid coronavirus pandemic. Likewise, two other expedition teams have received permission to scale 6151-meter high Gyalzen Peal and 7126-meter high Himlung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Recently, the Royal Force team of Baharain’s prince Nasir Bin Hamid Al Khalifa successfully scaled 8163-meter high Manaslu.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the Department of Tourism, the government has granted permission to five expedition teams to climb mountain amid coronavirus crisis. The department informed that two out of the five teams have already completed their missions. The department has collected royalties of Rs 2.3 million for granting permission for the expedition teams to climb mountains.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the arrival of high-profile teams for scaling mountains amid coronavirus pandemic has given a message that Nepal is a safe destination for tourism.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The visits of princes of Qatar and Baharain for mountain expeditions have given a clear message that Nepal is safe for visit during coronavirus crisis. Now, the government is preparing to open other sectors associated with the tourism industry,” said Minister Bhattarai.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung believes that the arrival of tourists for climbing mountains at a time when tourists visiting Nepal has been almost nil gives a positive message.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Tourism entrepreneurs have urged the government to make arrangements for PCR tests for the tourists at the airport arguing that the provision for 6-day hotel quarantine for the visitors will only lead to a decline in number of tourists.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12376', 'image' => '20201103110350_20180726031935_thamsherku.jpg', 'article_date' => '2020-11-03 11:02:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12628', 'article_category_id' => '1', 'title' => 'Loans Worth Rs 191 billion Disbursed to the Agriculture Sector', 'sub_title' => '5.85 percent of the total credit disbursed to agriculture so far this year', 'summary' => 'Commercial banks have only been able to flow 5.85 percent of their total credit to the agricultural sector in the first two months of the current fiscal year.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 2: Although the monetary policy of the current fiscal year has introduced a provision for commercial banks to increase the minimum percentage of the total credit to be disbursed to the agricultural sector from 10 percent to 15 percent, the commercial banks have only been able to flow 5.85 percent of their total credit to the agricultural sector in the first two months of the current fiscal year.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">By the end of Bhadra (mid-September) of the last year, a total credit of Rs 3 trillion 274 billion and 970 million was disbursed from commercial banks, development banks and finance companies. Out of the total loan, Rs 191.72 billion was been disbursed for the agricultural sector. In the past, 10 percent of credit for the agriculture sector was mandatory. However, the central bank is optimistic about the current credit flow to the agricultural sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Nepal Rastra Bank has stated that even amid the pandemic, the agricultural credit has increased by Rs 26.73 billion. According to the Banks and Financial Institutions Regulation Department of the central bank, the total sectoral credit stood at Rs 2 trillion 976 billion and 740 million out of which, Rs 164.98 billion was disbursed to the agricultural sector in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The monthly data published by the Department of Banking and Financial Institutions Regulation of NRB classifies credit for agriculture, forestry and fishery as agricultural loans. Namely, 'agricultural sector' covers grains, vegetables and other cash crops, tobacco, hemp, fruits and floriculture, poultry and bee keeping, manure and pesticides, cold storage, irrigation, forest, livestock or poultry farming, among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">However, the statistics department of Nepal Rastra Bank informs that the statistics of concessional agricultural loans and priority agricultural loans have not been included in the data of agricultural credit flow. Preferential agricultural loans include pure agricultural loans as well as loans for the purchase of materials for production, tea and coffee production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">As per the data of Nepal Rastra Bank by the end of Bhadra (mid-September), the Agriculture Development Bank has the largest share in the disbursement of agriculture and forestry loans amongst all commercial banks, development banks and finance companies. The Agriculture Development Bank has the highest share of 16.57 percent (Rs 28.655 billion) of the total agricultural loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Hemlal Poudyal, spokesperson of the bank, said that the bank has emphasized on the flow of agricultural loans without collateral under concessional loans by taking risks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">NIC Asia Bank has disbursed 9.1 percent (Rs 15.592 billion) of the total agricultural credit. The bank, which has been aggressive in credit flow, has also disbursed agricultural credit well.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">NIC Asia Bank is also the first bank to disburse the most loans in the first quarter of the current fiscal year. Arjun Raj Khaniya, head of public relations at NIC Asia Bank, says that the overall loan investment of the bank has increased due to the increase in the number of branch offices and extension counters across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Rastriya Banijya Bank has disbursed 7.74 percent (Rs 13.39 billion) of the total agricultural credit. The commercial banks that disburse more agricultural credit are Prime Bank, Nepal Investment Bank, Siddhartha Bank, Global IME Bank, Sunrise Bank and Nepal Bank respectively. Agricultural credit worth Rs 19.439 billion was disbursed from 19 development banks. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-02', 'modified' => '2020-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '12375', 'image' => '20201102053004_20200512091924_20190527010000_Makai.jpg', 'article_date' => '2020-11-02 17:29:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12627', 'article_category_id' => '1', 'title' => 'Government yet to Integrate all Customs Facilities in Birgunj despite operation of ICP', 'sub_title' => '', 'summary' => 'November 2: Government authorities were planning to channelize the import and export of all goods from Birgunj through the Integrated Check Post (ICP). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 2: Government authorities were planning to channelize the import and export of all goods from Birgunj through the Integrated Check Post (ICP). However, even after three years of operation of the ICP, this objective has not been achieved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The goal of making the import and export transparent by merging the old customs point at the Birgunj-Raxaul border and the Birgunj Dry Port with the ICP has been largely neglected so far. After the closure of the Nepal-India border during the coronavirus pandemic, most of the trade taking place throug the Birgunj-Raxaul-Inarwa transit point has been shifted to the ICP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Birgunj Customs Officer Ramesh Sukmani said that most of the customs work has been concentrated in the ICP after March as the border was closed due to coronavirus pandemic. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">"Most of the import and export businesses are now being done through the ICP. More than 99 percent of the goods are cleared through the ICP,” he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">At present, only a small quantity of petroleum products, vegetables, clinker, coal, iron ore and some other goods are imported through Inarwa. The Birgunj Customs had also started construction of infrastructure with scanners to shift the import-export trade to ICP by making Inarwa a passenger transit point. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">It has been almost a year since the decision was taken to shift the dry port to the ICP. However, no progress has been seen in the decision of the Council of Ministers to merge these customs facilities. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-02', 'modified' => '2020-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '12374', 'image' => '20201102032513_1604275088.Clipboard11.jpg', 'article_date' => '2020-11-02 15:24:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12641', 'article_category_id' => '1', 'title' => 'Goods from Tatopani Customs Entering Nepal at Snail’s Pace', 'sub_title' => '', 'summary' => 'November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. Nepali importers say that goods worth billions of rupees have been stranded in China for months as only small amount of goods are sent through the border. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Nepali businessmen have repeatedly urged the Chinese authorities to send the goods they have already purchased, but the goods have not arrived from China. According to them, even the goods ordered for last winter were stranded in China. </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:"Times New Roman"">"The checkpoint has opened but the goods of have not arrived," said Bachchu Poudel, president of the Nepal Trans Himalayan Border Commerce Association, adding, "More than 75 percent of the goods bought by businessmen are stuck in China." </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:"Times New Roman"">Poudel said that the association had repeatedly requested the Chinese authorities to send the goods purchased by the businessmen but they did not listed to the plea. According to him, only 3 to 4 containers of goods are entering Nepal daily. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the new policy of health standards, not all the goods bought by the entrepreneurs have been able to enter to Nepal. According to the Tatopani Customs Office, only 19 containers of goods have been imported as of Wednesday (November 4) after the border reopened. </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:"Times New Roman"">At present, Chinese containers come to the old customs yard on the Nepal side to deliver the goods. Nepali loaders are allowed to bring the goods only after the Chinese workers return from the site.</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:"Times New Roman"">Lal Bahadur Khatri, chief of the Tatopani Customs Dry Port Office said that goods are being imported according to the new policy of health standards under which Nepali loaders have to stay in quarantine facility. They have to undergo PCR tests every fortnight to ensure that they are not infected. </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:"Times New Roman"">So far, only apples and readymade garments have been imported through the customs point, informed Khatri.</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:"Times New Roman"">At this pace, it will take almost one year for the goods bought by the Nepali importers to enter Nepal, added Khatri.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12388', 'image' => '20201105025427_1604533890.Clipboard09.jpg', 'article_date' => '2020-11-05 14:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12639', 'article_category_id' => '1', 'title' => 'Soybean Oil Replaces Palm Oil as Nepal’s Major Export Product ', 'sub_title' => '', 'summary' => 'November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the data kept by the Trade and Export Promotion Centre (TEPC), refined soybean oil has emerged as the main export product of Nepal in the first three months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The export of soybean oil accounts for 24.5 percent of the total export of Nepal. Soybean oil is exported to India in large quantity because the product enjoys customs waiver facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the last fiscal year, refined palm oil had topped the list of products exported from Nepal to India. Refined palm oil worth Rs 18.31 billion was exported to India in the fiscal year 2019/20. However, the export of palm oil to India came to a halt after the Foreign Trade Directorate of India scrapped the license of palm oil importers in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first three months of the current fiscal year, the export of soybean oil has increased by 414 percent. During the corresponding period of last fiscal year, Nepal had exported soybean oil worth Rs 1.47 billion. The export of the same product has gone up to Rs 7.6 billion in the review period of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industrialists increased production of soybean oil after India imposed a ban on it. The industrialists say that the export increases naturally once the production is increased.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Operator of Shree Ram Refinery Pradeep Muraraka says that there is high demand for soybean oil in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industries import soybean from Argentina, Brazil, Paraguay, Indonesia and Ukraine and then refine the product to produce soybean oil. The refined oil is then sold to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The local industries have imported soybean worth Rs 8.13 billion in the first three months of the current fiscal year. The import of soybean during the corresponding period of last fiscal year was worth Rs 3.18 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12387', 'image' => '20201105113227_1604533724.Clipboard15.jpg', 'article_date' => '2020-11-05 11:31:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12640', 'article_category_id' => '1', 'title' => 'Construction of Nagdhunga-Naubise Tunnel Project Gains Momentum', 'sub_title' => '', 'summary' => 'November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. A technical team of the contractor company Hamza Ando Corporation as well as necessary equipment have already arrived at the construction site. The work of digging the tunnel is expected to get completed within two weeks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Nagdhunga-Naubise Tunnel Project will start digging the tunnel from the western side at Sisnekhola. Later, the tunnel will also be dug from the eastern side or Kathmandu, informed acting project chief Naresh Man Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The timeframe for completion of the project had been delayed due to the problems in bringing machines and technical team to the field. Now, the work has been resumed to compensate for the delay.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The work could not be done as per the schedule. In order to avoid the possibility of extending the contract agreement, we have set a target to work accordingly to meet the deadline,” said Shakya, adding, “Looking at the current progress, the chances of delay are slim.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the agreement signed with the Department of Roads, the contractor must complete the project within 42 months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A 20-member technical team from Japan is arriving for drilling works while the process to bring in additional 20 technicians is underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The contractor company has already brought 300 tons of explosives to the construction site while its total requirement of explosives is 900 tons.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The foundation stone of the project was laid on October 21, 2019 but the main work of tunnel construction will begin only after a year. Currently, the project officials are building culverts and other supporting structures.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project officials claim that they will complete the work on time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project is being undertaken with the concessional loan provided by the Government of Japan. The total investment for the project is estimated to be around Rs 22 billion. JICA will invest Rs 16 billion while the Government of Nepal will contribute Rs 6 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The tunnel will be of 2.7 kilometers long and will have two flyovers. The project will also cover 3 kilometers of road. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Thankot-Naubise road section is currently 9 kilometers long. The distance will be shortened to 5.7 kilometers once the tunnel is constructed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/111%281%29%281%29.jpg" style="height:215px; width:800px" /></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12386', 'image' => '20201105124818_20200308111704_adahjj.jpg', 'article_date' => '2020-11-05 12:45:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12638', 'article_category_id' => '1', 'title' => 'Government Instructs Insurance Companies to Settle Covid-19 Insurance Claims within 7 Days', 'sub_title' => '', 'summary' => 'November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government issued such instructions in accordance to the laws related to coronavirus insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance on Tuesday (November 3) issued such directive to the Insurance Board. Following the instruction from the government, the Insurance Board on the same day issued a circular to all insurance companies telling them to settle the insurance claims of Covid-19 cases within the timeframe set by the law.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Insurance Board has clearly stated in the circular that all insurance companies must settle the claims within seven days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director of the Insurance Board Raju Raman Poudel informed that the board instructed the insurance companies to settle the claims within seven days as per the instruction of the finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We received a letter from the finance ministry in this regard on Tuesday. We then issued the circular the same day,” said Poudel, adding, “Hopefully, patients infected with coronavirus will now receive compensation on time. The pending claims will also be settled soon.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12385', 'image' => '20201104043538_1604447588.Clipboard12.jpg', 'article_date' => '2020-11-04 16:35:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12637', 'article_category_id' => '1', 'title' => 'NRB to Provide Refinancing Facility within mid-December', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown. The demand for the refinancing facility has currently reached Rs 113 billion.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The central bank had instructed Banks and Financial Institutions (BFIs) to submit applications for lump sum refinancing to old borrowers at concessional interest rates by the end of Ashoj (mid-October). The regulatory department of Nepal Rastra Bank is working on the analysis and evaluation of the applications received to provide refinancing facility in the coming month of Mangshir (mid-November to mid-December).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, the borrowers of 44 banks and financial institutions have applied for refinancing of up to Rs 72 billion as of the end of Ashoj (mid-October).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""> “Apart from this, there is a demand of Rs 41 billion from debtors. Out of the total demand of Rs 41 billion, the highest number of refinancing applications has been received from Bagmati Province,” he said, adding, “Work is being done to make the refinancing facility available by the end of Mangshir (mid-December).”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Out of the total refinancing facility of Rs 200 billion, 70 percent of refinancing facility will be given through commercial banks, development banks and finance companies in the current fiscal year. Meanwhile, 20 percent refinancing will be distributed by the central bank on the basis of its evaluation. The remaining 10 percent will be distributed through microfinance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Athough the central bank had announced opening of applications for refinancing from A, B, and C class banks in the last two months, the applications for refinancing through microfinance has not been opened. NRB Spokesperson Bhatta says that the first priority was initially given to the highly affected and moderately affected sectors like hotels, tourism, etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to him, only the current debtors affected by COVID-19 will be able to get such loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The repayment period of the borrower should be at least 1 year in order for them to be eligible for refinancing facility. In case of a borrower, who has availed a loan through more than one bank and financial institution, the application will be accepted only in a non-recurring manner.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks should include at least five customers and borrowers from each branch when selecting a loan for application. Nepal Rastra Bank has stated that it will not accept applications if they are submitted without following the proper procedures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Liquidity in the market is expected to rise highly after the one-time refinancing is given to those who meet the criteria. At present, there is liquidity of Rs 201 billion in the market. After disbursing the refinancing amount, the banks will have to reduce the interest rate on the loan given to the old borrower affected by COVID-19 to 5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The refinancing procedure provides loan amount of up to Rs 1.5 million as 'micro, home and small enterprise loans'. Refinancing given by prioritizing a sector will be considered as special refinancing. This includes exports, women entrepreneurs, enterprises and businesses run by differently abled individuals, and refinancing provided in areas affected by natural disasters. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The lump sum refinancing period will be limited to one year at most and such loan will not be renewed. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12384', 'image' => '20201104033822_1604447658.Clipboard17.jpg', 'article_date' => '2020-11-04 15:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12636', 'article_category_id' => '1', 'title' => 'Government to get new BYD Buses within a Month ', 'sub_title' => '', 'summary' => 'November 4: Cimex Inc Pvt Ltd, a supplier that was in dispute for importing substandard electric buses, is now providing new electric buses to the government after two years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 4: Cimex Inc Pvt Ltd, a supplier that was in dispute for importing substandard electric buses, is now providing new electric buses to the government after two years. </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:"Times New Roman"">The project head of the company Sahil Shrestha informed that the company will provide the electric buses to the government after completing the due processes within a month as per the agreement reached with the government.</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:"Times New Roman"">Stating that they are the mediator between Chinese manufacturer BYD and the Government of Nepal, he further informed that the vehicles have already reached Kolkata port. </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:"Times New Roman"">“Five big electric buses including 14 small ones have already arrived in Kolkata,” Shrestha said.</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:"Times New Roman"">Although Cimex Inc had promised to provide new buses within April, they were not able to do so due to coronavirus. </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:"Times New Roman"">Spokesperson of the Ministry of Tourism Kamal Prasad Bhattarai said that the buses will be operated in Lumbini after they have been tested.</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:"Times New Roman"">“The company has said that the buses have already arrived but technical tests are yet to be done. After doing the necessary tests, we will carry out the necessary processes to acquire the vehicles according to the agreement.” </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:"Times New Roman"">The buses were procured by the Ministry of Culture, Tourism and Civil Aviation under a grant from the Asian Development Bank (ADB) to operate electric buses from Gautam Buddha International Airport to Lumbini. </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:"Times New Roman"">The ministry had purchased those buses for Lumbini Development Trust from the Chinese company BYD. </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:"Times New Roman"">Out of Rs 290 million provided by the ADB, five buses were purchased for Rs 87.5 million. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12383', 'image' => '20201104021953_1BYD.jpg', 'article_date' => '2020-11-04 14:19:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12635', 'article_category_id' => '1', 'title' => 'Finance Minister Reviewing Status of Budget Implementation', 'sub_title' => '', 'summary' => 'November 4: Finance Minister Bishnu Poudel has started reviewing the progress made in the implementation of the budget of the current fiscal year 2020/21.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: Finance Minister Bishnu Poudel has started reviewing the progress made in the implementation of the budget of the current fiscal year 2020/21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Poudel, who was appointed as finance minister in mid-October, has started reviewing the progress with officials of various ministries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first phase, Finance Minister has held discussions regarding the implementation of budget – especially the capital expenditure – with the officials of the Ministry of Urban Development as well as the Ministry of Culture, Tourism and Civil Aviation, informed Yamlal Bhusal, joint secretary at finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Several ministries have not been able to perform their works in accordance to the target citing the coronavirus pandemic. In this context, Finance Minister Poudel has reportedly instructed the line ministries not to delay the implementation of budget on the pretext of Covid-19 crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He has also directed the ministries to complete their work in order to meet the target as per the work plan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During Monday’s meeting with authorities of the two ministries, Finance Minister Poudel instructed them to effectively implement the policies and programmes announced in the budget for the prevention coronavirus.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the meeting, secretaries of the two ministries requested the finance minister to facilitate in implementing the current budget instead of bringing new policies and programmes. They also stressed on the need to implement small and petty programmes through the provincial governments and the local units instead of the federal ministries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the finance ministry, the government has been able to spend only Rs 201 billion out of the total budget of Rs 1474 billion in the first three months of the current fiscal year. The government’s expenditure is just 13.63 percent of the total budget. The government had set a target to spend 20 percent of the total budget in the first quarter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The current expenditure of the government during the review period is Rs 182 billion while the capital expenditure is just Rs 15.4 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12382', 'image' => '20201104010905_1604447731.11.jpg', 'article_date' => '2020-11-04 13:08:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12634', 'article_category_id' => '1', 'title' => 'Import of Coal Up Despite Current Crisis', 'sub_title' => '', 'summary' => 'November 4: At a time when almost all businesses and industries have come to a standstill, the import of coal has surprisingly gone up.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: At a time when almost all businesses and industries have come to a standstill, the import of coal has surprisingly gone up. Coal is used as a raw material for preparing clinker, which is a vital component of cement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Data maintained by the Birgunj Customs Office shows that the import of coal has increased by 42 percent in the first three months of the current fiscal year compared to the corresponding period of last FY.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the customs office, 141,528 metric tons of coal worth Rs 1.88 billion was imported into the country during the review period. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Altogether 99,381 metric tons of coal worth Rs 1.42 billion was imported through Birgunj customs during the corresponding period of last fiscal year, according to Information Officer at the customs office Bimal Sah. Out of the country’s total import of coal, 50 percent of coal enters the country through Birgunj.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Stakeholders say that some industries have imported huge quantity of coal right now because the price of coal has dropped in the Indian market. One of the importers told New Business Age that although there isn’t much demand for cement in the market, they decided to import coal in large quantity to take advantage of the decline in its price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Madhav Rajpal, an importer of coal, claimed that the import of the product was increasing even during the lockdown period because the cement industry of Nepal has been expanding in recent years with more investment in the sector. He said that 70 percent of the imported coal will be used to make clinker while the remaining 30 percent is utilized by brick kilns.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12381', 'image' => '20201104114527_1604447282.Clipboard13.jpg', 'article_date' => '2020-11-04 11:44:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12633', 'article_category_id' => '1', 'title' => 'Central Bank to Auction Development Bonds worth Rs 20 Billion on Nov 4', 'sub_title' => '', 'summary' => 'November 3: Nepal Rastra Bank (NRB) is preparing to auction development bonds with maturity period of one decade as per its schedule to raise internal loans in the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Nepal Rastra Bank (NRB) is preparing to auction development bonds with maturity period of one decade as per its schedule to raise internal loans in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The central bank is all set to sell development bonds worth Rs 20 billion on November 4. The development bonds will have a maturity period of ten years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB decided to issue the bonds to assist the government’s target of raising internal loans of Rs 225 billion in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The National Debt Management Department of NRB will be issuing the Development Bond 2087 ‘D’ on behalf of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The interest rate of the development bond will be decided through bidding process. The development bonds, which will be issued in an auction, can be used as collateral to receive loan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Non-banking institutes as well as finance companies, insurance companies, formal sector organisations and Nepali citizens can purchase the development bond.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB Spokesperson Dr Gunakar Bhatta expects banks and financial institutes to purchase most of the development bonds this time due to Covid-19 crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The central bank had issued Treasury Bills worth Rs 1.66 billion on October 3 to raise internal loan.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12380', 'image' => '20201103050747_1604363729.Clipboard20.jpg', 'article_date' => '2020-11-03 17:07:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12632', 'article_category_id' => '1', 'title' => 'Most of the Roads Damaged during Monsoon have Become Operational: DoR', 'sub_title' => 'Department of Roads estimates Budget Requirement of Rs 3 Billion to Fully Repair the Roads', 'summary' => 'November 3: Most of the roads that had been damaged by floods and landslides during the monsoon season this year have been either fully or partially repaired and brought into operation. Some of them have been opened for one-way traffic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Most of the roads that had been damaged by floods and landslides during the monsoon season this year have been either fully or partially repaired and brought into operation. Some of them have been opened for one-way traffic. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the Department of Roads (DoR), altogether 253 sections of roads and highways were damaged by floods and landslides this year. Among them, 139 sections have been fully repaired while the remaining 112 areas have been partially reopened.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, two areas along the Sanfebagar-Martadi road section that was damaged on August 10 have not become operational yet. The Department of Roads informed that this road section sustained major damage in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Arniko Highway, which was worst affected by floods and landslides this year, has become partially operational with one-way traffic in some areas. More than 25 areas along the highway have been partially opened.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the initial estimates of DoR, it will cost more than Rs 3 billion to fully repair the roads and bridges damaged by floods and landslides. Arniko Highway alone will require Rs 1.5 billion for repair works, informed Shiva Hari Sapkota, spokesperson of the department.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Beni-Jomsom road also sustained major damages due to flood this year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the department, floods swept away large chunks of road as well as Bailey bridges and under-construction bridges during monsoon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Many areas of Siddhartha Highway, Pritivi Highway, BP Highway, Kanti Highway, Koshi Highway, Trishuli-Syafrubesi road section among others are still operating with one-way traffic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The department has requested for budget from the Finance Ministry through the Ministry of Physical Infrastructure and Transport in order to repair the roads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Although roads get damaged by floods and landslides every year, the government does not allocate budget specifically for this purpose. The budget for the repair works of roads is released from the additional expenses of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Infrastructure experts point out the need to identify the vulnerable spots and repair them during winter to minimize damages during the monsoon season.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12379', 'image' => '20201103032211_1604363440.2 Road news.jpg', 'article_date' => '2020-11-03 15:21:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12631', 'article_category_id' => '1', 'title' => 'Sailung Enterprises unlikely to Import Fertilizer within Extended Deadline', 'sub_title' => '', 'summary' => 'November 3: The government is unlikely to get chemical fertilizers even within the extended deadline because it awarded the contract to import fertilizers to a company that had not prior experience in importing fertilizers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">November 3: The government is unlikely to get chemical fertilizers even within the extended deadline because it awarded the contract to import fertilizers to a company that had not prior experience in importing fertilizers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Sailung Enterprises, which was awarded the contract to import 30,000 metric tons of urea, has not been able to bring the fertilizer even as the deadline of contract is about to expire. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The deadline for Sailung Enterprises was extended for the second time to import 30,000 metric tons of urea even though it failed not bring 25,000 metric tons of urea within the initial deadline. Due to the inordinate delay, the farmers could not get chemical fertilizers during the wheat cultivation season. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Only a week is left for the contract agreement expire. However, the company has not brought the fertilizers yet. Sailung Enterprises was awarded the contract to import the fertilizers on July 2. Even after 110 days of getting the contract, the company has not been able to bring fertilizers yet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bishnu Pokharel of Agriculture Inputs Company Limited informed that the company should bring the fertilizers within the extended deadline.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">But he added that the possibility of Sailung Enterprises bringing the fertilizers is extremely low this time as well. He said that the contract was given to the wrong company for the purchase of fertilizers. Pokharel added that they were unaware about as the weaknesses of the company before. It is widely believed that an inexperienced company was given the responsibility of importing fertilizer due to political pressure. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12378', 'image' => '20201103014514_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2020-11-03 13:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12630', 'article_category_id' => '1', 'title' => 'Nepal, Israel Prepare Protocol for Migrant Workers', 'sub_title' => '', 'summary' => 'November 3: A ‘protocol’ to send Nepali workers to Israel has been finalized as per the agreement signed between the two countries about a month ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: A ‘protocol’ to send Nepali workers to Israel has been finalized as per the agreement signed between the two countries about a month ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">High-ranking officials of the two countries prepared the protocol after almost a month of negotiations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The protocol mentions about issues like the process of sending workers to Israel, their qualification, perks and benefits in accordance to the labour agreement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The protocol focuses on sending Nepali workers to the health sector of Israel and has specified food and accommodation for them.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Besides the health sector, the Nepali workers will also get opportunities to work in hotels and restaurants, agriculture sector, construction works among others.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali workers willing to go to Israel for work will have to pay the visa fee, medical test fee as well as orientation charge and a certain amount to the welfare fund themselves, as per the protocol.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Director General of the Department of Foreign Employment Kumar Dahal, who represented the Nepali side during negotiations with Israel, says that the two countries prepared the protocol on the basis of the labour pact.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">However, Dahal informed that the two countries are yet to endorse the protocol.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Representatives of the two countries will endorse the protocol immediately after Tihar. The process of sending workers to Israel will begin soon after endorsing it,” said Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to Dahal, 500 Nepali workers will be sent to Israel in the first phase. The Department of Foreign Employment is finalizing a separate work procedure for it, informed Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We are finalizing a work procedure to implement the labour agreement and the protocol. It will be ready soon,” said Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal had also signed a labour pact with Israel in 2015. Back then, very few Nepalis had gone to Israel for work. Israel had agreed to take nurses and care givers having three months of training but the agreement could not be implemented for a long time.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12377', 'image' => '20201103121620_nepal-israel-inks-labor-agreement.jpg', 'article_date' => '2020-11-03 12:15:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12629', 'article_category_id' => '1', 'title' => 'High-Profile Visits for Mountaineering Give Silver Lining to the ailing Tourism Industry ', 'sub_title' => '', 'summary' => 'November 3: Mountaineering and expedition have to some extent revitalized the tourism industry, which has been reeling under the effects of Covid-19 lockdown and restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Mountaineering and expedition have to some extent revitalized the tourism industry, which has been reeling under the effects of Covid-19 lockdown and restrictions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Government officials and entrepreneurs believe that the arrival of high-profile foreign delegates for climbing mountains has given a positive message to the tourism sector of Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/1604362035.23.jpg" style="height:237px; width:320px" /></span></span></span></p> <p><span style="font-size:14px"><em><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Qatar’s prince Sheikh Mohammad Bin Abdullah</span></span></em></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Qatar’s prince Sheikh Mohammad Bin Abdullah has already reached the base camp of Mt Ama Dablam to scale the 6,814-meter peak. A 14-member team of Prince Abdullah reached the base camp on Sunday (November 1). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Department of Tourism informed that the expedition team of Prince Abdullah includes six climbers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, a six-member Nepali team has also scaled Baruntse amid coronavirus pandemic. Likewise, two other expedition teams have received permission to scale 6151-meter high Gyalzen Peal and 7126-meter high Himlung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Recently, the Royal Force team of Baharain’s prince Nasir Bin Hamid Al Khalifa successfully scaled 8163-meter high Manaslu.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the Department of Tourism, the government has granted permission to five expedition teams to climb mountain amid coronavirus crisis. The department informed that two out of the five teams have already completed their missions. The department has collected royalties of Rs 2.3 million for granting permission for the expedition teams to climb mountains.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the arrival of high-profile teams for scaling mountains amid coronavirus pandemic has given a message that Nepal is a safe destination for tourism.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The visits of princes of Qatar and Baharain for mountain expeditions have given a clear message that Nepal is safe for visit during coronavirus crisis. Now, the government is preparing to open other sectors associated with the tourism industry,” said Minister Bhattarai.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung believes that the arrival of tourists for climbing mountains at a time when tourists visiting Nepal has been almost nil gives a positive message.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Tourism entrepreneurs have urged the government to make arrangements for PCR tests for the tourists at the airport arguing that the provision for 6-day hotel quarantine for the visitors will only lead to a decline in number of tourists.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12376', 'image' => '20201103110350_20180726031935_thamsherku.jpg', 'article_date' => '2020-11-03 11:02:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12628', 'article_category_id' => '1', 'title' => 'Loans Worth Rs 191 billion Disbursed to the Agriculture Sector', 'sub_title' => '5.85 percent of the total credit disbursed to agriculture so far this year', 'summary' => 'Commercial banks have only been able to flow 5.85 percent of their total credit to the agricultural sector in the first two months of the current fiscal year.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 2: Although the monetary policy of the current fiscal year has introduced a provision for commercial banks to increase the minimum percentage of the total credit to be disbursed to the agricultural sector from 10 percent to 15 percent, the commercial banks have only been able to flow 5.85 percent of their total credit to the agricultural sector in the first two months of the current fiscal year.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">By the end of Bhadra (mid-September) of the last year, a total credit of Rs 3 trillion 274 billion and 970 million was disbursed from commercial banks, development banks and finance companies. Out of the total loan, Rs 191.72 billion was been disbursed for the agricultural sector. In the past, 10 percent of credit for the agriculture sector was mandatory. However, the central bank is optimistic about the current credit flow to the agricultural sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Nepal Rastra Bank has stated that even amid the pandemic, the agricultural credit has increased by Rs 26.73 billion. According to the Banks and Financial Institutions Regulation Department of the central bank, the total sectoral credit stood at Rs 2 trillion 976 billion and 740 million out of which, Rs 164.98 billion was disbursed to the agricultural sector in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The monthly data published by the Department of Banking and Financial Institutions Regulation of NRB classifies credit for agriculture, forestry and fishery as agricultural loans. Namely, 'agricultural sector' covers grains, vegetables and other cash crops, tobacco, hemp, fruits and floriculture, poultry and bee keeping, manure and pesticides, cold storage, irrigation, forest, livestock or poultry farming, among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">However, the statistics department of Nepal Rastra Bank informs that the statistics of concessional agricultural loans and priority agricultural loans have not been included in the data of agricultural credit flow. Preferential agricultural loans include pure agricultural loans as well as loans for the purchase of materials for production, tea and coffee production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">As per the data of Nepal Rastra Bank by the end of Bhadra (mid-September), the Agriculture Development Bank has the largest share in the disbursement of agriculture and forestry loans amongst all commercial banks, development banks and finance companies. The Agriculture Development Bank has the highest share of 16.57 percent (Rs 28.655 billion) of the total agricultural loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Hemlal Poudyal, spokesperson of the bank, said that the bank has emphasized on the flow of agricultural loans without collateral under concessional loans by taking risks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">NIC Asia Bank has disbursed 9.1 percent (Rs 15.592 billion) of the total agricultural credit. The bank, which has been aggressive in credit flow, has also disbursed agricultural credit well.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">NIC Asia Bank is also the first bank to disburse the most loans in the first quarter of the current fiscal year. Arjun Raj Khaniya, head of public relations at NIC Asia Bank, says that the overall loan investment of the bank has increased due to the increase in the number of branch offices and extension counters across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Rastriya Banijya Bank has disbursed 7.74 percent (Rs 13.39 billion) of the total agricultural credit. The commercial banks that disburse more agricultural credit are Prime Bank, Nepal Investment Bank, Siddhartha Bank, Global IME Bank, Sunrise Bank and Nepal Bank respectively. Agricultural credit worth Rs 19.439 billion was disbursed from 19 development banks. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-02', 'modified' => '2020-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '12375', 'image' => '20201102053004_20200512091924_20190527010000_Makai.jpg', 'article_date' => '2020-11-02 17:29:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12627', 'article_category_id' => '1', 'title' => 'Government yet to Integrate all Customs Facilities in Birgunj despite operation of ICP', 'sub_title' => '', 'summary' => 'November 2: Government authorities were planning to channelize the import and export of all goods from Birgunj through the Integrated Check Post (ICP). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 2: Government authorities were planning to channelize the import and export of all goods from Birgunj through the Integrated Check Post (ICP). However, even after three years of operation of the ICP, this objective has not been achieved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The goal of making the import and export transparent by merging the old customs point at the Birgunj-Raxaul border and the Birgunj Dry Port with the ICP has been largely neglected so far. After the closure of the Nepal-India border during the coronavirus pandemic, most of the trade taking place throug the Birgunj-Raxaul-Inarwa transit point has been shifted to the ICP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Birgunj Customs Officer Ramesh Sukmani said that most of the customs work has been concentrated in the ICP after March as the border was closed due to coronavirus pandemic. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">"Most of the import and export businesses are now being done through the ICP. More than 99 percent of the goods are cleared through the ICP,” he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">At present, only a small quantity of petroleum products, vegetables, clinker, coal, iron ore and some other goods are imported through Inarwa. The Birgunj Customs had also started construction of infrastructure with scanners to shift the import-export trade to ICP by making Inarwa a passenger transit point. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">It has been almost a year since the decision was taken to shift the dry port to the ICP. However, no progress has been seen in the decision of the Council of Ministers to merge these customs facilities. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-02', 'modified' => '2020-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '12374', 'image' => '20201102032513_1604275088.Clipboard11.jpg', 'article_date' => '2020-11-02 15:24:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 5: Although the Tatopani customs point has reopened, goods worth billions of rupees are still stuck across the border in China. Nepali importers say that goods worth billions of rupees have been stranded in China for months as only small amount of goods are sent through the border. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Nepali businessmen have repeatedly urged the Chinese authorities to send the goods they have already purchased, but the goods have not arrived from China. According to them, even the goods ordered for last winter were stranded in China. </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:"Times New Roman"">"The checkpoint has opened but the goods of have not arrived," said Bachchu Poudel, president of the Nepal Trans Himalayan Border Commerce Association, adding, "More than 75 percent of the goods bought by businessmen are stuck in China." </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:"Times New Roman"">Poudel said that the association had repeatedly requested the Chinese authorities to send the goods purchased by the businessmen but they did not listed to the plea. According to him, only 3 to 4 containers of goods are entering Nepal daily. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to the new policy of health standards, not all the goods bought by the entrepreneurs have been able to enter to Nepal. According to the Tatopani Customs Office, only 19 containers of goods have been imported as of Wednesday (November 4) after the border reopened. </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:"Times New Roman"">At present, Chinese containers come to the old customs yard on the Nepal side to deliver the goods. Nepali loaders are allowed to bring the goods only after the Chinese workers return from the site.</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:"Times New Roman"">Lal Bahadur Khatri, chief of the Tatopani Customs Dry Port Office said that goods are being imported according to the new policy of health standards under which Nepali loaders have to stay in quarantine facility. They have to undergo PCR tests every fortnight to ensure that they are not infected. </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:"Times New Roman"">So far, only apples and readymade garments have been imported through the customs point, informed Khatri.</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:"Times New Roman"">At this pace, it will take almost one year for the goods bought by the Nepali importers to enter Nepal, added Khatri.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12388', 'image' => '20201105025427_1604533890.Clipboard09.jpg', 'article_date' => '2020-11-05 14:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12639', 'article_category_id' => '1', 'title' => 'Soybean Oil Replaces Palm Oil as Nepal’s Major Export Product ', 'sub_title' => '', 'summary' => 'November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: Soybean oil has replaced refined palm oil as the major export product of Nepal after India banned the import of palm oil some six months ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the data kept by the Trade and Export Promotion Centre (TEPC), refined soybean oil has emerged as the main export product of Nepal in the first three months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The export of soybean oil accounts for 24.5 percent of the total export of Nepal. Soybean oil is exported to India in large quantity because the product enjoys customs waiver facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the last fiscal year, refined palm oil had topped the list of products exported from Nepal to India. Refined palm oil worth Rs 18.31 billion was exported to India in the fiscal year 2019/20. However, the export of palm oil to India came to a halt after the Foreign Trade Directorate of India scrapped the license of palm oil importers in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first three months of the current fiscal year, the export of soybean oil has increased by 414 percent. During the corresponding period of last fiscal year, Nepal had exported soybean oil worth Rs 1.47 billion. The export of the same product has gone up to Rs 7.6 billion in the review period of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industrialists increased production of soybean oil after India imposed a ban on it. The industrialists say that the export increases naturally once the production is increased.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Operator of Shree Ram Refinery Pradeep Muraraka says that there is high demand for soybean oil in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali industries import soybean from Argentina, Brazil, Paraguay, Indonesia and Ukraine and then refine the product to produce soybean oil. The refined oil is then sold to India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The local industries have imported soybean worth Rs 8.13 billion in the first three months of the current fiscal year. The import of soybean during the corresponding period of last fiscal year was worth Rs 3.18 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12387', 'image' => '20201105113227_1604533724.Clipboard15.jpg', 'article_date' => '2020-11-05 11:31:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12640', 'article_category_id' => '1', 'title' => 'Construction of Nagdhunga-Naubise Tunnel Project Gains Momentum', 'sub_title' => '', 'summary' => 'November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 5: The construction of Nagdhunga-Naubise Tunnel Project has gained pace after the government lifted lockdown and other restrictions. A technical team of the contractor company Hamza Ando Corporation as well as necessary equipment have already arrived at the construction site. The work of digging the tunnel is expected to get completed within two weeks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Nagdhunga-Naubise Tunnel Project will start digging the tunnel from the western side at Sisnekhola. Later, the tunnel will also be dug from the eastern side or Kathmandu, informed acting project chief Naresh Man Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The timeframe for completion of the project had been delayed due to the problems in bringing machines and technical team to the field. Now, the work has been resumed to compensate for the delay.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The work could not be done as per the schedule. In order to avoid the possibility of extending the contract agreement, we have set a target to work accordingly to meet the deadline,” said Shakya, adding, “Looking at the current progress, the chances of delay are slim.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">As per the agreement signed with the Department of Roads, the contractor must complete the project within 42 months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">A 20-member technical team from Japan is arriving for drilling works while the process to bring in additional 20 technicians is underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The contractor company has already brought 300 tons of explosives to the construction site while its total requirement of explosives is 900 tons.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The foundation stone of the project was laid on October 21, 2019 but the main work of tunnel construction will begin only after a year. Currently, the project officials are building culverts and other supporting structures.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project officials claim that they will complete the work on time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The project is being undertaken with the concessional loan provided by the Government of Japan. The total investment for the project is estimated to be around Rs 22 billion. JICA will invest Rs 16 billion while the Government of Nepal will contribute Rs 6 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The tunnel will be of 2.7 kilometers long and will have two flyovers. The project will also cover 3 kilometers of road. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Thankot-Naubise road section is currently 9 kilometers long. The distance will be shortened to 5.7 kilometers once the tunnel is constructed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/111%281%29%281%29.jpg" style="height:215px; width:800px" /></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-11-05', 'modified' => '2020-11-05', 'keywords' => '', 'description' => '', 'sortorder' => '12386', 'image' => '20201105124818_20200308111704_adahjj.jpg', 'article_date' => '2020-11-05 12:45:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12638', 'article_category_id' => '1', 'title' => 'Government Instructs Insurance Companies to Settle Covid-19 Insurance Claims within 7 Days', 'sub_title' => '', 'summary' => 'November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: The government has instructed insurance companies to settle the insurance claims related to Covid-19 cases within seven days following complaints regarding delay in payment issues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The government issued such instructions in accordance to the laws related to coronavirus insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Ministry of Finance on Tuesday (November 3) issued such directive to the Insurance Board. Following the instruction from the government, the Insurance Board on the same day issued a circular to all insurance companies telling them to settle the insurance claims of Covid-19 cases within the timeframe set by the law.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Insurance Board has clearly stated in the circular that all insurance companies must settle the claims within seven days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Executive Director of the Insurance Board Raju Raman Poudel informed that the board instructed the insurance companies to settle the claims within seven days as per the instruction of the finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We received a letter from the finance ministry in this regard on Tuesday. We then issued the circular the same day,” said Poudel, adding, “Hopefully, patients infected with coronavirus will now receive compensation on time. The pending claims will also be settled soon.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12385', 'image' => '20201104043538_1604447588.Clipboard12.jpg', 'article_date' => '2020-11-04 16:35:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12637', 'article_category_id' => '1', 'title' => 'NRB to Provide Refinancing Facility within mid-December', 'sub_title' => '', 'summary' => 'November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 4: Nepal Rastra Bank (NRB) has opened an application for refinancing facility up to a total of Rs 200 billion to provide relief to the people affected by COVID-19 and the subsequent lockdown. The demand for the refinancing facility has currently reached Rs 113 billion.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The central bank had instructed Banks and Financial Institutions (BFIs) to submit applications for lump sum refinancing to old borrowers at concessional interest rates by the end of Ashoj (mid-October). The regulatory department of Nepal Rastra Bank is working on the analysis and evaluation of the applications received to provide refinancing facility in the coming month of Mangshir (mid-November to mid-December).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, the borrowers of 44 banks and financial institutions have applied for refinancing of up to Rs 72 billion as of the end of Ashoj (mid-October).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""> “Apart from this, there is a demand of Rs 41 billion from debtors. Out of the total demand of Rs 41 billion, the highest number of refinancing applications has been received from Bagmati Province,” he said, adding, “Work is being done to make the refinancing facility available by the end of Mangshir (mid-December).”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Out of the total refinancing facility of Rs 200 billion, 70 percent of refinancing facility will be given through commercial banks, development banks and finance companies in the current fiscal year. Meanwhile, 20 percent refinancing will be distributed by the central bank on the basis of its evaluation. The remaining 10 percent will be distributed through microfinance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Athough the central bank had announced opening of applications for refinancing from A, B, and C class banks in the last two months, the applications for refinancing through microfinance has not been opened. NRB Spokesperson Bhatta says that the first priority was initially given to the highly affected and moderately affected sectors like hotels, tourism, etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">According to him, only the current debtors affected by COVID-19 will be able to get such loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The repayment period of the borrower should be at least 1 year in order for them to be eligible for refinancing facility. In case of a borrower, who has availed a loan through more than one bank and financial institution, the application will be accepted only in a non-recurring manner.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Banks should include at least five customers and borrowers from each branch when selecting a loan for application. Nepal Rastra Bank has stated that it will not accept applications if they are submitted without following the proper procedures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Liquidity in the market is expected to rise highly after the one-time refinancing is given to those who meet the criteria. At present, there is liquidity of Rs 201 billion in the market. After disbursing the refinancing amount, the banks will have to reduce the interest rate on the loan given to the old borrower affected by COVID-19 to 5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The refinancing procedure provides loan amount of up to Rs 1.5 million as 'micro, home and small enterprise loans'. Refinancing given by prioritizing a sector will be considered as special refinancing. This includes exports, women entrepreneurs, enterprises and businesses run by differently abled individuals, and refinancing provided in areas affected by natural disasters. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The lump sum refinancing period will be limited to one year at most and such loan will not be renewed. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12384', 'image' => '20201104033822_1604447658.Clipboard17.jpg', 'article_date' => '2020-11-04 15:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12636', 'article_category_id' => '1', 'title' => 'Government to get new BYD Buses within a Month ', 'sub_title' => '', 'summary' => 'November 4: Cimex Inc Pvt Ltd, a supplier that was in dispute for importing substandard electric buses, is now providing new electric buses to the government after two years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 4: Cimex Inc Pvt Ltd, a supplier that was in dispute for importing substandard electric buses, is now providing new electric buses to the government after two years. </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:"Times New Roman"">The project head of the company Sahil Shrestha informed that the company will provide the electric buses to the government after completing the due processes within a month as per the agreement reached with the government.</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:"Times New Roman"">Stating that they are the mediator between Chinese manufacturer BYD and the Government of Nepal, he further informed that the vehicles have already reached Kolkata port. </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:"Times New Roman"">“Five big electric buses including 14 small ones have already arrived in Kolkata,” Shrestha said.</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:"Times New Roman"">Although Cimex Inc had promised to provide new buses within April, they were not able to do so due to coronavirus. </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:"Times New Roman"">Spokesperson of the Ministry of Tourism Kamal Prasad Bhattarai said that the buses will be operated in Lumbini after they have been tested.</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:"Times New Roman"">“The company has said that the buses have already arrived but technical tests are yet to be done. After doing the necessary tests, we will carry out the necessary processes to acquire the vehicles according to the agreement.” </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:"Times New Roman"">The buses were procured by the Ministry of Culture, Tourism and Civil Aviation under a grant from the Asian Development Bank (ADB) to operate electric buses from Gautam Buddha International Airport to Lumbini. </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:"Times New Roman"">The ministry had purchased those buses for Lumbini Development Trust from the Chinese company BYD. </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:"Times New Roman"">Out of Rs 290 million provided by the ADB, five buses were purchased for Rs 87.5 million. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12383', 'image' => '20201104021953_1BYD.jpg', 'article_date' => '2020-11-04 14:19:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12635', 'article_category_id' => '1', 'title' => 'Finance Minister Reviewing Status of Budget Implementation', 'sub_title' => '', 'summary' => 'November 4: Finance Minister Bishnu Poudel has started reviewing the progress made in the implementation of the budget of the current fiscal year 2020/21.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: Finance Minister Bishnu Poudel has started reviewing the progress made in the implementation of the budget of the current fiscal year 2020/21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Poudel, who was appointed as finance minister in mid-October, has started reviewing the progress with officials of various ministries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">In the first phase, Finance Minister has held discussions regarding the implementation of budget – especially the capital expenditure – with the officials of the Ministry of Urban Development as well as the Ministry of Culture, Tourism and Civil Aviation, informed Yamlal Bhusal, joint secretary at finance ministry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Several ministries have not been able to perform their works in accordance to the target citing the coronavirus pandemic. In this context, Finance Minister Poudel has reportedly instructed the line ministries not to delay the implementation of budget on the pretext of Covid-19 crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">He has also directed the ministries to complete their work in order to meet the target as per the work plan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During Monday’s meeting with authorities of the two ministries, Finance Minister Poudel instructed them to effectively implement the policies and programmes announced in the budget for the prevention coronavirus.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">During the meeting, secretaries of the two ministries requested the finance minister to facilitate in implementing the current budget instead of bringing new policies and programmes. They also stressed on the need to implement small and petty programmes through the provincial governments and the local units instead of the federal ministries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the finance ministry, the government has been able to spend only Rs 201 billion out of the total budget of Rs 1474 billion in the first three months of the current fiscal year. The government’s expenditure is just 13.63 percent of the total budget. The government had set a target to spend 20 percent of the total budget in the first quarter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The current expenditure of the government during the review period is Rs 182 billion while the capital expenditure is just Rs 15.4 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12382', 'image' => '20201104010905_1604447731.11.jpg', 'article_date' => '2020-11-04 13:08:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12634', 'article_category_id' => '1', 'title' => 'Import of Coal Up Despite Current Crisis', 'sub_title' => '', 'summary' => 'November 4: At a time when almost all businesses and industries have come to a standstill, the import of coal has surprisingly gone up.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 4: At a time when almost all businesses and industries have come to a standstill, the import of coal has surprisingly gone up. Coal is used as a raw material for preparing clinker, which is a vital component of cement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Data maintained by the Birgunj Customs Office shows that the import of coal has increased by 42 percent in the first three months of the current fiscal year compared to the corresponding period of last FY.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the customs office, 141,528 metric tons of coal worth Rs 1.88 billion was imported into the country during the review period. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Altogether 99,381 metric tons of coal worth Rs 1.42 billion was imported through Birgunj customs during the corresponding period of last fiscal year, according to Information Officer at the customs office Bimal Sah. Out of the country’s total import of coal, 50 percent of coal enters the country through Birgunj.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Stakeholders say that some industries have imported huge quantity of coal right now because the price of coal has dropped in the Indian market. One of the importers told New Business Age that although there isn’t much demand for cement in the market, they decided to import coal in large quantity to take advantage of the decline in its price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Madhav Rajpal, an importer of coal, claimed that the import of the product was increasing even during the lockdown period because the cement industry of Nepal has been expanding in recent years with more investment in the sector. He said that 70 percent of the imported coal will be used to make clinker while the remaining 30 percent is utilized by brick kilns.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-04', 'modified' => '2020-11-04', 'keywords' => '', 'description' => '', 'sortorder' => '12381', 'image' => '20201104114527_1604447282.Clipboard13.jpg', 'article_date' => '2020-11-04 11:44:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12633', 'article_category_id' => '1', 'title' => 'Central Bank to Auction Development Bonds worth Rs 20 Billion on Nov 4', 'sub_title' => '', 'summary' => 'November 3: Nepal Rastra Bank (NRB) is preparing to auction development bonds with maturity period of one decade as per its schedule to raise internal loans in the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Nepal Rastra Bank (NRB) is preparing to auction development bonds with maturity period of one decade as per its schedule to raise internal loans in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The central bank is all set to sell development bonds worth Rs 20 billion on November 4. The development bonds will have a maturity period of ten years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB decided to issue the bonds to assist the government’s target of raising internal loans of Rs 225 billion in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The National Debt Management Department of NRB will be issuing the Development Bond 2087 ‘D’ on behalf of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The interest rate of the development bond will be decided through bidding process. The development bonds, which will be issued in an auction, can be used as collateral to receive loan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Non-banking institutes as well as finance companies, insurance companies, formal sector organisations and Nepali citizens can purchase the development bond.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">NRB Spokesperson Dr Gunakar Bhatta expects banks and financial institutes to purchase most of the development bonds this time due to Covid-19 crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The central bank had issued Treasury Bills worth Rs 1.66 billion on October 3 to raise internal loan.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12380', 'image' => '20201103050747_1604363729.Clipboard20.jpg', 'article_date' => '2020-11-03 17:07:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12632', 'article_category_id' => '1', 'title' => 'Most of the Roads Damaged during Monsoon have Become Operational: DoR', 'sub_title' => 'Department of Roads estimates Budget Requirement of Rs 3 Billion to Fully Repair the Roads', 'summary' => 'November 3: Most of the roads that had been damaged by floods and landslides during the monsoon season this year have been either fully or partially repaired and brought into operation. Some of them have been opened for one-way traffic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Most of the roads that had been damaged by floods and landslides during the monsoon season this year have been either fully or partially repaired and brought into operation. Some of them have been opened for one-way traffic. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the Department of Roads (DoR), altogether 253 sections of roads and highways were damaged by floods and landslides this year. Among them, 139 sections have been fully repaired while the remaining 112 areas have been partially reopened.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, two areas along the Sanfebagar-Martadi road section that was damaged on August 10 have not become operational yet. The Department of Roads informed that this road section sustained major damage in the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Arniko Highway, which was worst affected by floods and landslides this year, has become partially operational with one-way traffic in some areas. More than 25 areas along the highway have been partially opened.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the initial estimates of DoR, it will cost more than Rs 3 billion to fully repair the roads and bridges damaged by floods and landslides. Arniko Highway alone will require Rs 1.5 billion for repair works, informed Shiva Hari Sapkota, spokesperson of the department.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Beni-Jomsom road also sustained major damages due to flood this year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the department, floods swept away large chunks of road as well as Bailey bridges and under-construction bridges during monsoon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Many areas of Siddhartha Highway, Pritivi Highway, BP Highway, Kanti Highway, Koshi Highway, Trishuli-Syafrubesi road section among others are still operating with one-way traffic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The department has requested for budget from the Finance Ministry through the Ministry of Physical Infrastructure and Transport in order to repair the roads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Although roads get damaged by floods and landslides every year, the government does not allocate budget specifically for this purpose. The budget for the repair works of roads is released from the additional expenses of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Infrastructure experts point out the need to identify the vulnerable spots and repair them during winter to minimize damages during the monsoon season.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12379', 'image' => '20201103032211_1604363440.2 Road news.jpg', 'article_date' => '2020-11-03 15:21:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12631', 'article_category_id' => '1', 'title' => 'Sailung Enterprises unlikely to Import Fertilizer within Extended Deadline', 'sub_title' => '', 'summary' => 'November 3: The government is unlikely to get chemical fertilizers even within the extended deadline because it awarded the contract to import fertilizers to a company that had not prior experience in importing fertilizers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">November 3: The government is unlikely to get chemical fertilizers even within the extended deadline because it awarded the contract to import fertilizers to a company that had not prior experience in importing fertilizers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Sailung Enterprises, which was awarded the contract to import 30,000 metric tons of urea, has not been able to bring the fertilizer even as the deadline of contract is about to expire. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The deadline for Sailung Enterprises was extended for the second time to import 30,000 metric tons of urea even though it failed not bring 25,000 metric tons of urea within the initial deadline. Due to the inordinate delay, the farmers could not get chemical fertilizers during the wheat cultivation season. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Only a week is left for the contract agreement expire. However, the company has not brought the fertilizers yet. Sailung Enterprises was awarded the contract to import the fertilizers on July 2. Even after 110 days of getting the contract, the company has not been able to bring fertilizers yet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Bishnu Pokharel of Agriculture Inputs Company Limited informed that the company should bring the fertilizers within the extended deadline.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">But he added that the possibility of Sailung Enterprises bringing the fertilizers is extremely low this time as well. He said that the contract was given to the wrong company for the purchase of fertilizers. Pokharel added that they were unaware about as the weaknesses of the company before. It is widely believed that an inexperienced company was given the responsibility of importing fertilizer due to political pressure. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12378', 'image' => '20201103014514_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2020-11-03 13:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12630', 'article_category_id' => '1', 'title' => 'Nepal, Israel Prepare Protocol for Migrant Workers', 'sub_title' => '', 'summary' => 'November 3: A ‘protocol’ to send Nepali workers to Israel has been finalized as per the agreement signed between the two countries about a month ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: A ‘protocol’ to send Nepali workers to Israel has been finalized as per the agreement signed between the two countries about a month ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">High-ranking officials of the two countries prepared the protocol after almost a month of negotiations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The protocol mentions about issues like the process of sending workers to Israel, their qualification, perks and benefits in accordance to the labour agreement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The protocol focuses on sending Nepali workers to the health sector of Israel and has specified food and accommodation for them.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Besides the health sector, the Nepali workers will also get opportunities to work in hotels and restaurants, agriculture sector, construction works among others.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepali workers willing to go to Israel for work will have to pay the visa fee, medical test fee as well as orientation charge and a certain amount to the welfare fund themselves, as per the protocol.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Director General of the Department of Foreign Employment Kumar Dahal, who represented the Nepali side during negotiations with Israel, says that the two countries prepared the protocol on the basis of the labour pact.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">However, Dahal informed that the two countries are yet to endorse the protocol.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“Representatives of the two countries will endorse the protocol immediately after Tihar. The process of sending workers to Israel will begin soon after endorsing it,” said Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to Dahal, 500 Nepali workers will be sent to Israel in the first phase. The Department of Foreign Employment is finalizing a separate work procedure for it, informed Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“We are finalizing a work procedure to implement the labour agreement and the protocol. It will be ready soon,” said Dahal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Nepal had also signed a labour pact with Israel in 2015. Back then, very few Nepalis had gone to Israel for work. Israel had agreed to take nurses and care givers having three months of training but the agreement could not be implemented for a long time.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12377', 'image' => '20201103121620_nepal-israel-inks-labor-agreement.jpg', 'article_date' => '2020-11-03 12:15:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12629', 'article_category_id' => '1', 'title' => 'High-Profile Visits for Mountaineering Give Silver Lining to the ailing Tourism Industry ', 'sub_title' => '', 'summary' => 'November 3: Mountaineering and expedition have to some extent revitalized the tourism industry, which has been reeling under the effects of Covid-19 lockdown and restrictions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">November 3: Mountaineering and expedition have to some extent revitalized the tourism industry, which has been reeling under the effects of Covid-19 lockdown and restrictions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Government officials and entrepreneurs believe that the arrival of high-profile foreign delegates for climbing mountains has given a positive message to the tourism sector of Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS""><img alt="" src="/app/webroot/userfiles/images/1604362035.23.jpg" style="height:237px; width:320px" /></span></span></span></p> <p><span style="font-size:14px"><em><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Qatar’s prince Sheikh Mohammad Bin Abdullah</span></span></em></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Qatar’s prince Sheikh Mohammad Bin Abdullah has already reached the base camp of Mt Ama Dablam to scale the 6,814-meter peak. A 14-member team of Prince Abdullah reached the base camp on Sunday (November 1). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The Department of Tourism informed that the expedition team of Prince Abdullah includes six climbers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Meanwhile, a six-member Nepali team has also scaled Baruntse amid coronavirus pandemic. Likewise, two other expedition teams have received permission to scale 6151-meter high Gyalzen Peal and 7126-meter high Himlung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Recently, the Royal Force team of Baharain’s prince Nasir Bin Hamid Al Khalifa successfully scaled 8163-meter high Manaslu.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">According to the Department of Tourism, the government has granted permission to five expedition teams to climb mountain amid coronavirus crisis. The department informed that two out of the five teams have already completed their missions. The department has collected royalties of Rs 2.3 million for granting permission for the expedition teams to climb mountains.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the arrival of high-profile teams for scaling mountains amid coronavirus pandemic has given a message that Nepal is a safe destination for tourism.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">“The visits of princes of Qatar and Baharain for mountain expeditions have given a clear message that Nepal is safe for visit during coronavirus crisis. Now, the government is preparing to open other sectors associated with the tourism industry,” said Minister Bhattarai.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung believes that the arrival of tourists for climbing mountains at a time when tourists visiting Nepal has been almost nil gives a positive message.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Tourism entrepreneurs have urged the government to make arrangements for PCR tests for the tourists at the airport arguing that the provision for 6-day hotel quarantine for the visitors will only lead to a decline in number of tourists.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-03', 'modified' => '2020-11-03', 'keywords' => '', 'description' => '', 'sortorder' => '12376', 'image' => '20201103110350_20180726031935_thamsherku.jpg', 'article_date' => '2020-11-03 11:02:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12628', 'article_category_id' => '1', 'title' => 'Loans Worth Rs 191 billion Disbursed to the Agriculture Sector', 'sub_title' => '5.85 percent of the total credit disbursed to agriculture so far this year', 'summary' => 'Commercial banks have only been able to flow 5.85 percent of their total credit to the agricultural sector in the first two months of the current fiscal year.', 'content' => '<h1><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 2: Although the monetary policy of the current fiscal year has introduced a provision for commercial banks to increase the minimum percentage of the total credit to be disbursed to the agricultural sector from 10 percent to 15 percent, the commercial banks have only been able to flow 5.85 percent of their total credit to the agricultural sector in the first two months of the current fiscal year.</span></span></h1> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">By the end of Bhadra (mid-September) of the last year, a total credit of Rs 3 trillion 274 billion and 970 million was disbursed from commercial banks, development banks and finance companies. Out of the total loan, Rs 191.72 billion was been disbursed for the agricultural sector. In the past, 10 percent of credit for the agriculture sector was mandatory. However, the central bank is optimistic about the current credit flow to the agricultural sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Nepal Rastra Bank has stated that even amid the pandemic, the agricultural credit has increased by Rs 26.73 billion. According to the Banks and Financial Institutions Regulation Department of the central bank, the total sectoral credit stood at Rs 2 trillion 976 billion and 740 million out of which, Rs 164.98 billion was disbursed to the agricultural sector in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The monthly data published by the Department of Banking and Financial Institutions Regulation of NRB classifies credit for agriculture, forestry and fishery as agricultural loans. Namely, 'agricultural sector' covers grains, vegetables and other cash crops, tobacco, hemp, fruits and floriculture, poultry and bee keeping, manure and pesticides, cold storage, irrigation, forest, livestock or poultry farming, among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">However, the statistics department of Nepal Rastra Bank informs that the statistics of concessional agricultural loans and priority agricultural loans have not been included in the data of agricultural credit flow. Preferential agricultural loans include pure agricultural loans as well as loans for the purchase of materials for production, tea and coffee production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">As per the data of Nepal Rastra Bank by the end of Bhadra (mid-September), the Agriculture Development Bank has the largest share in the disbursement of agriculture and forestry loans amongst all commercial banks, development banks and finance companies. The Agriculture Development Bank has the highest share of 16.57 percent (Rs 28.655 billion) of the total agricultural loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Hemlal Poudyal, spokesperson of the bank, said that the bank has emphasized on the flow of agricultural loans without collateral under concessional loans by taking risks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">NIC Asia Bank has disbursed 9.1 percent (Rs 15.592 billion) of the total agricultural credit. The bank, which has been aggressive in credit flow, has also disbursed agricultural credit well.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">NIC Asia Bank is also the first bank to disburse the most loans in the first quarter of the current fiscal year. Arjun Raj Khaniya, head of public relations at NIC Asia Bank, says that the overall loan investment of the bank has increased due to the increase in the number of branch offices and extension counters across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">Rastriya Banijya Bank has disbursed 7.74 percent (Rs 13.39 billion) of the total agricultural credit. The commercial banks that disburse more agricultural credit are Prime Bank, Nepal Investment Bank, Siddhartha Bank, Global IME Bank, Sunrise Bank and Nepal Bank respectively. Agricultural credit worth Rs 19.439 billion was disbursed from 19 development banks. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-02', 'modified' => '2020-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '12375', 'image' => '20201102053004_20200512091924_20190527010000_Makai.jpg', 'article_date' => '2020-11-02 17:29:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12627', 'article_category_id' => '1', 'title' => 'Government yet to Integrate all Customs Facilities in Birgunj despite operation of ICP', 'sub_title' => '', 'summary' => 'November 2: Government authorities were planning to channelize the import and export of all goods from Birgunj through the Integrated Check Post (ICP). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman"">November 2: Government authorities were planning to channelize the import and export of all goods from Birgunj through the Integrated Check Post (ICP). However, even after three years of operation of the ICP, this objective has not been achieved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman"">The goal of making the import and export transparent by merging the old customs point at the Birgunj-Raxaul border and the Birgunj Dry Port with the ICP has been largely neglected so far. After the closure of the Nepal-India border during the coronavirus pandemic, most of the trade taking place throug the Birgunj-Raxaul-Inarwa transit point has been shifted to the ICP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Birgunj Customs Officer Ramesh Sukmani said that most of the customs work has been concentrated in the ICP after March as the border was closed due to coronavirus pandemic. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">"Most of the import and export businesses are now being done through the ICP. More than 99 percent of the goods are cleared through the ICP,” he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">At present, only a small quantity of petroleum products, vegetables, clinker, coal, iron ore and some other goods are imported through Inarwa. The Birgunj Customs had also started construction of infrastructure with scanners to shift the import-export trade to ICP by making Inarwa a passenger transit point. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">It has been almost a year since the decision was taken to shift the dry port to the ICP. However, no progress has been seen in the decision of the Council of Ministers to merge these customs facilities. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-02', 'modified' => '2020-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '12374', 'image' => '20201102032513_1604275088.Clipboard11.jpg', 'article_date' => '2020-11-02 15:24:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
