NEWS

Work Procedure of SSF Gathering Dust at Prime Minister’s Office

Oct 04, 2020 0 3 minutes 6 seconds to read

October 4: A proposal forwarded to the Office of the Prime Minister and Council of Ministers six months ago by the labour ministry for providing loan to the contributors of the Social Security Fund (SSF) is gathering dust…

Handicraft Industry Struggling to Normalize

Oct 01, 2020 0 3 minutes 17 seconds to read

October 1: The handicraft industry of Nepal is producing products at 20 percent of its full…

Nepal Signs Labor agreement with Israel to Send Nepali Workers on G2G Basis

Oct 01, 2020 0 1 minutes 30 seconds to read

October 1: The Government of Nepal has signed a bilateral labor agreement with Israel for sending Nepali workers to Israel.…

Nepal Reeling under the Weight of Loan Assistance from India

Oct 01, 2020 0 3 minutes 46 seconds to read

October 1: There is a general understanding among the public that India has been providing support for the development of Nepal in proportion to the close social and commercial proximity it has with Nepal.…

Minister Bhatta Warns of Stern Action Against Blackmarketing

Oct 01, 2020 0 1 minutes 49 seconds to read

October 1: Minister for Industry, Commerce and Supplies Lekhraj Bhatta has warned of stern action against anyone found cheating consumers under any…

43 Companies Submit Proposals for Construction of Tunnels and Bridges along KTM-Terai Fast Track

Oct 01, 2020 0 2 minutes 5 seconds to read

October 1: Altogether 43 companies have submitted proposals for the construction of tunnels and bridges under the Kathmandu-Tarai Fast Track Project.…

Remittance Inflow Remains Above Average Despite Coronavirus Pandemic

Sep 30, 2020 0 1 minutes 16 seconds to read

September 30: Inflow of remittance to Nepal has been above average in the last few months despite fears that the coronavirus pandemic would lead to a decline in remittance to Nepal.…

Tatopani Customs to Open from October 5

Sep 30, 2020 0 2 minutes 14 seconds to read

September 30: Tatopani, one of the major customs points along Nepal-China border, will come into operation from October 5.…

Industries Increase Production Post Lockdown

Sep 30, 2020 0 1 minutes 45 seconds to read

…

Government to Issue on-arrival Visa to Tourists from October 17

Sep 30, 2020 0 2 minutes 35 seconds to read

September 30: The government has decided to issue on-arrival visa for tourists from October 17.…

Central Bank Raising Internal Debt worth Rs 225 billion

Sep 29, 2020 0 4 minutes 36 seconds to read

September 29: Nepal Rastra Bank has published its annual schedule to raise billion of rupees as internal debt due to excessive liquidity in banks and financial institutions.…

WB Approves USD 150 Million Project to support Federalism in Nepal’s Secondary Cities

Sep 29, 2020 0 3 minutes 37 seconds to read

September 28: The World Bank on Monday (September 28) approved a $150 million project to help Nepal strengthen service delivery and institutional capacities in strategic secondary cities, and to support the post-COVID-19 economic recovery.…

Businesses faltering Despite the Onset of Festive Season

Sep 29, 2020 0 1 minutes 41 seconds to read

September 29: With the big festivals like Dashain and Tihar just around the corner, the market by now should have been bustling with growing sales.…

Private Sector Demands Implementation of Policy Reforms

Sep 29, 2020 0 2 minutes 27 seconds to read

September 29: At a time when the government has initiated the process of amending laws to attract foreign investment, concerned stakeholders from the private sector have been demanding implementation of the policy reforms.…

Api Power Company finalizes Consortium Loan for Chameliya Hydropower Project

Sep 29, 2020 0 1 minutes 8 seconds to read

September 29: Api Power Company has concluded the financial closure for 40MW Chameliya Hydropower Project.…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
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NEPSE

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			'article_category_id' => '1',
			'title' => 'Work Procedure of SSF Gathering Dust at Prime Minister’s Office',
			'sub_title' => '',
			'summary' => 'October 4: A proposal forwarded to the Office of the Prime Minister and Council of Ministers six months ago by the labour ministry for providing loan to the contributors of the Social Security Fund (SSF) is gathering dust office.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 4: A proposal forwarded to the Office of the Prime Minister and Council of Ministers six months ago by the labour ministry for providing loan to the contributors of the Social Security Fund (SSF) is gathering dust office. The proposal includes work procedure prepared by the SSF to provide loan to the contributors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SSF had proposed providing a maximum of Rs 7.5 million loan to those who have contributed to the fund for three consecutive years. As per the proposal, the loan amount will be calculated on the basis of basic salary of the contributor for 15 years and cannot exceed the maximum limit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prime minister&rsquo;s office has a committee comprising of high-level officials from the finance ministry that decides on the proposals to be sent to the Council of Ministers (cabinet).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The officials have refused to forward the proposal to the cabinet arguing that the SSF is not an institution to provide loan. On the other hand, the Employees Provident Fund (EPF) and the Citizens Investment Trust (CIT) have been providing loans to the employees since their inception. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Deputy Executive Director of SSF Bivek Panthi says that the delay in approval of the work procedure has prevented them from investing Rs 2.6 billion that they have collected so far. He argues that it is unfair to allow EPF to provide loan and bar them from doing so.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The employees are the same. The decision to halt the approval of the proposal reflects discrimination,&rdquo; says Panthi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The work procedure proposed investing the fund collected by SSF in government bonds, fixed deposit accounts of BFIs or in long-term deposit plans. It also proposes investing the amount on BFIs or other companies and in mutual funds.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, joint secretary of finance ministry Jhakka Acharya says that the bylaws of the SSF does not allow it to provide loans.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In recent days, there is a growing attraction toward SSF. On Friday, around 176,000 employees associated with 12,780 organisations were listed with the&nbsp; SSF.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the lockdown period, companies related to the tourism industry, aviation sector, industries, NGOs, finance companies, media houses among others were registered with the SSF.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12547',
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			'title' => 'Handicraft Industry Struggling to Normalize',
			'sub_title' => '',
			'summary' => 'October 1: The handicraft industry of Nepal is producing products at 20 percent of its full capacity.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 1: The handicraft industry of Nepal is producing products at 20 percent of its full capacity. The production of Nepal&rsquo;s handicraft&nbsp; industry had declined by 80 percent before the lockdown on March 24 after the number of tourists stopped visiting the country due to fear of coronavirus. Even the demand for handicraft has gone down significantly, due to which the manufacturers have reduced their production. Stakeholders say there isn&rsquo;t any new demand after the start of the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Handicraft entrepreneurs say they are operating their industries only to fulfill the demand for felt, pashmina, woodcarvings and silverwares that were ordered before the lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been learnt that around 60 percent workers in this field have been rendered jobless after the handicraft industry started producing at 20 percent capacity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of Federation of Nepal Handicraft Association Surendra Bhai Shakya says they are unable to increase production due to lack of demand from overseas.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What can we do by just increasing production? There isn&rsquo;t any sale. How long can we stock the products?&rdquo; questioned Shakya. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After firing the workers, Shakya says they are worried about getting skilled workers later when the situation gets normal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data of FHAN, the domestic market of Nepal consumes handicraft materials worth Rs 6 billion every year. The USA, China and European countries are the major markets for Nepalese handicraft products. Nepal exports handicraft products worth Rs 11 to 15 billion to these countries annually. Even those who purchase handicraft products in Nepal are foreigners.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The handicraft entrepreneurs have been forced to export their products at three times higher price due to unavailability of flights during global lockdown. The problem has not resolved although regular flights have&nbsp; resumed. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Nepal Export Council Hari Bahadur Karki says only limited airline companies are operating flights to and from Nepal and the airliners charge them fare as high as that of chartered flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government has lifted restrictions, places like Basantapur, Thamel, Patan and other areas where these products are sold do not have any customers at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders say their business is in peril because the handicraft industry is directly linked with the tourism industry.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '12546',
			'article_category_id' => '1',
			'title' => 'Nepal Signs Labor agreement with Israel to Send Nepali Workers on G2G Basis',
			'sub_title' => '',
			'summary' => 'October 1: The Government of Nepal has signed a bilateral labor agreement with Israel for sending Nepali workers to Israel. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">October 1: The Government of Nepal has signed a bilateral labor agreement with Israel for sending Nepali workers to Israel. Nepal&rsquo;s Ambassador to Israel Dr Anjan Shakya and Israel&rsquo;s Foreign Minister Gabi Askhenaji signed the agreement on Wednesday, September 30.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Earlier, the government had signed a labor agreement in 2015 but it was not implemented properly. Nepal&#39;s private manpower companies have been supplying Nepali workers to Israel for employment under previous agreement. However, now according to the new agreement, the government itself will be sending workers to Israel for work on G2G basis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government is currently sending workers to South Korea through the G2G agreement. The same model has been agreed with Israel. According to the labor agreement with Israel, Nepali citizens who want to travel to Israel &nbsp;&nbsp;for employment will only be required to pay the visa fee, medical examination charge, the amount to be deposited in the welfare fund, and the orientation fee.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the agreement is considered to be opposite to the government&#39;s commitment and policy. The government had decided to adopt the policy of &#39;free visa, free ticket&#39; in June 2015. The government has been taking action against the manpower companies that do not follow such policy.</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Nepal Reeling under the Weight of Loan Assistance from India',
			'sub_title' => '',
			'summary' => 'October 1: There is a general understanding among the public that India has been providing support for the development of Nepal in proportion to the close social and commercial proximity it has with Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">October 1: There is a general understanding among the public that India has been providing support for the development of Nepal in proportion to the close social and commercial proximity it has with Nepal. However, figures point out otherwise.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Data reveal that the amount of loan India has been providing to Nepal in the recent years overshadow the assistance it has been providing. It is clearly evident that India has increased the weightage of loan on Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Ministry of Finance, India does not fall among the top five countries that provide financial aid to Nepal. However, it ranks fourth among the list of Nepal&rsquo;s creditors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India also does not fall among the top five countries that provide technical support to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India, which has been taking advantage from Nepal by making it one of the major destinations to export its products, has adopted a strategy of debt-trap diplomacy in the name of development support, according to experts. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the fiscal year 2018/19, India provided financial support worth USD 58.94 million for development purpose. Out of that amount, USD 45.95 was loan assistance. Only USD 10.5 million provided by India during the review period was grant, according to data of finance ministry. During FY 2018/19, India had provided technical assistance worth USD 2.38 million to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the last one year, the amount of loan Nepal received from India was 78 percent of the total assistance. India&rsquo;s grant assistance and technical support were 18 percent and 4 percent respectively, reveals data maintained by the finance ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India has been supporting four projects in Nepal with its loan assistance. Under the reconstruction works, India has set a target to spend USD 15 million for rebuilding infrastructures damaged by the 2015 earthquakes in Gorkha and Nuwakot districts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;"><img alt="" src="/app/webroot/userfiles/images/My%20Effect.jpg" style="height:600px; width:649px" /></span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Economic Census of Nepal states that foreign grants to Nepal has declined because of the improvement in per capital income of Nepal and the purchasing power of its citizens. However, economists do not agree with this statistics prepared by the government. It is a matter of concern that the number of countries providing loan assistance to Nepal is increasing on top of the loan amount, says economist Bishwambher Pyakurel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Loan is a kind of white elephant. Those who provide loan give it on certain conditions. It becomes a threat to the economy is the loan is not utilized properly,&rdquo; says Prof Dr Pyakurel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Another economist Dr Posh Raj Pandey says bilateral loan is more risky than multilateral loan. He is of the view that the loan taken by Nepal from India and China could cause an impact on its diplomatic relations with the neighbours.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Minister Bhatta Warns of Stern Action Against Blackmarketing',
			'sub_title' => '',
			'summary' => 'October 1: Minister for Industry, Commerce and Supplies Lekhraj Bhatta has warned of stern action against anyone found cheating consumers under any pretext.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 1: Minister for Industry, Commerce and Supplies Lekhraj Bhatta has warned of stern action against anyone found cheating consumers under any pretext.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Speaking at a press conference organised to inform about the achievements made since he took charge of the ministry, Bhatta said he has been working tirelessly for the welfare of consumers and labourers. He added that the ministry would strict action against blackmarketing.</span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/shankerlogo%202.jpg" style="height:240px; width:286px" /></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Bhatta informed that the government has taken action against Jagadamba Steels under Shankar Group for producing sub-standard materials and is making attempts to unfold other such activities of the company. He also urged one and all not to doubt the government&rsquo;s commitment to take action against those who cheat the consumers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are making efforts to remove the sub-standard product from the market and destroy them,&rdquo; said Bhatta.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Bhatta further said that they are in the process of destroying 300 tons of steel produced by Jagadamba Steels for not meeting the criteria set by the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The minister claimed that he himself goes out for market monitoring to ensure that the public does not get cheated. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12543',
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			'title' => '43 Companies Submit Proposals for Construction of Tunnels and Bridges along KTM-Terai Fast Track',
			'sub_title' => '',
			'summary' => 'October 1: Altogether 43 companies have submitted proposals for the construction of tunnels and bridges under the Kathmandu-Tarai Fast Track Project. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">October 1: Altogether 43 companies have submitted proposals for the construction of tunnels and bridges under the Kathmandu-Tarai Fast Track Project. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Nepalese Army, which has been handed the responsibility of overseeing the fast track project by the government, announced on Wednesday (September 30) that the 43 companies have met the criteria required for the construction of the tunnel and bridges in 11 clusters. Those infrastructures will be constructed in two packages, informed the army.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Nepalese Army had earlier issued tender for the construction of the tunnels and bridges, which falls under the complicated works under the project.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Nepalese Army, a total of 21 companies have submitted proposals for the construction of infrastructures under Package 1 of the project that falls between Chokredanda to Dhedrekhola. Likewise, 22 companies have submitted proposals for the Package 2, which falls between Dhedrekhola to Lanedanda.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Those companies have fulfilled the requirement of having prior experience in planning, designing, engineering, procurement and construction of infrastructures like tunnels and bridges, informed the army.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Army Spokesperson Brigadier General Santosh Poudel informed that an evaluation committee will go through the proposals and shortlist qualified companies for the project within two weeks.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The fast track will have three tunnels and 16 bridges. The Nepalese Army has completed the works of drilling along the 72.5 kilometer fast track. Out of the total length of the fast track,&nbsp; tunnels will be of 6.41 kilometers in length.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12542',
			'article_category_id' => '1',
			'title' => 'Remittance Inflow Remains Above Average Despite Coronavirus Pandemic',
			'sub_title' => '',
			'summary' => 'September 30: Inflow of remittance to Nepal has been above average in the last few months despite fears that the coronavirus pandemic would lead to a decline in remittance to Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: Inflow of remittance to Nepal has been above average in the last few months despite fears that the coronavirus pandemic would lead to a decline in remittance to Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Inflow of remittance has remained above average in the last four months. During mid-August to mid-September, remittance inflow to Nepal was around Rs 85 billion, according to Nepal Remitters&rsquo; Association, which is above average. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the latest date, the average monthly inflow of remittance to Nepal is Rs 73 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The inflow of remittance in mid-July to mid-August was 92.71 billion. It means that the remittance inflow in the first two months of the current fiscal year was Rs 177 billion, which is 15.59 percent more than the figures compared to the corresponding period of last fiscal year. During the first two months of the last fiscal year, the inflow of remittance to Nepal was Rs 153 billion.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12539',
			'article_category_id' => '1',
			'title' => 'Tatopani Customs to Open from October 5',
			'sub_title' => '',
			'summary' => 'September 30: Tatopani, one of the major customs points along Nepal-China border, will come into operation from October 5. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: Tatopani, one of the major customs points along Nepal-China border, will come into operation from October 5. The border point has remained closed since the last seven months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials of the two countries on Tuesday (September 29) decided to reopen the border point from next week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border point was opened briefly some months ago but had to be closed following landslides in Jambu bazar of Sindhupalchowk district on July 10. It was again opened later but had to be closed due to rising threat of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials of the two countries have agreed to unload goods from China at the Liping bridge and the workers from Nepal would be allowed to bring the goods into Nepal from there. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The workers from Nepal have been divided into two groups and they include drivers, helpers and manual labourers. The PCR test of all 25 members of the first group has been taken, informed Nepali authorities. The Chinese side has told Nepal to keep the second group of 28 workers ready, says chief of the Tatopani Customs Point Lal Bahadur Khatri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Khatri, all the drivers and labourers deployed in the border area will undergo PCR tests in every five days. The tests will be conducted by the Chinese side.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal-bound goods that have been stranded across the border will be released from October 5, informed Khatri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This is expected to provide some relief to the importers for the upcoming Dashain festival.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12538',
			'article_category_id' => '1',
			'title' => 'Industries Increase Production Post Lockdown ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>An industry within the premises of Special Economic Zone in this file photo.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 30: The industries that had lowered their production significantly due to the lockdown and restriction for the past six months have gradually started to increase their production. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Industries and factories produced only 15 to 25 percent of their full capacity during the lockdown period. However, they have increased their production by up to 60 percent of their capacity after the one-month restriction was lifted on September 20.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government finally lifted the lockdown, which was in force since March 24, and the subsequent restriction on September 20. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Rajesh Agrawal, managing director of RMC Group, informed that the industrial and business sector, which have been reeling under the effect of lockdown for about six, can now finally pick up pace within a month and a half.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Agarwal, who is also the vice-president of the Confederation of Nepalese Industries (CNI), informed that the industrial sector can now pick up pace as all kinds of industrialists have agreed to engage in production by following the security protocols set by the government.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">RMC Group, which has been producing construction materials including Palpa Cement, is currently producing only 25 to 30 percent of the total capacity. &quot;The production of the materials will be increased after Dashain,&quot; Agrawal informed.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12537',
			'article_category_id' => '1',
			'title' => 'Government to Issue on-arrival Visa to Tourists from October 17',
			'sub_title' => '',
			'summary' => 'September 30: The government has decided to issue on-arrival visa for tourists from October 17. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: The government has decided to issue on-arrival visa for tourists from October 17. The on-arrival visa facility was suspended since the last six months due to coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, the government had decided to open trekking and expeditions for foreigners from October 17 but the tourism entrepreneurs were concerned about the delay in announcing on-arrival visas. They had time and again demanded the government to issue on-arrival visas because tourists were in dilemma whether or not to visit Nepal due to the delay in such announcement. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Finally, the government decided to allow foreign visitors who fulfill all the health protocols set by the government. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the ministry is coordinating with Nepal Rastra Bank and home ministry as well as the immigration department to make the on-arrival visa payment system seamless and hassle free.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Tourism Department Rudra Singh Tamang informed that the government has decided to issue on-arrival visas for tourists travelling in groups and that the visitors need to mandatorily stay in quarantine for a week upon their arrival in Nepal. The tourists also need to show their PCR test report taken within 72 hours in order to enter Nepal. The immigration department will cross-check the report while issuing the on-arrival visa. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The expedition teams visiting Nepal will have to purchase insurance policy of at least Rs 100,000 for coronavirus in order to get permission for climbing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tourism entrepreneurs have expressed reservation regarding this decision of the government. They claim than although the decision to open Nepal for tourists is a positive step, other mandatory provisions like one-week quarantine and PCR tests would only dissuade the visitors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They say that the government took such measures against the recommendation made by the tourism stakeholders. They have also demanded PCR test at the Tribhuvan International Airport itself. The tourism entrepreneurs argue that the tourists have to travel through different transit points so the PCR test taken 72 hours ago might not be relevant.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12536',
			'article_category_id' => '1',
			'title' => 'Central Bank Raising Internal Debt worth Rs 225 billion',
			'sub_title' => '',
			'summary' => 'September 29: Nepal Rastra Bank has published its annual schedule to raise billion of rupees as internal debt due to excessive liquidity in banks and financial institutions. ',
			'content' => '<h1><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">September 29: Nepal Rastra Bank has published its annual schedule to raise billion of rupees as internal debt due to excessive liquidity in banks and financial institutions. The central bank will be raising Rs 225 billion internal debt for the government in the current fiscal year.</span></span></span></h1>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Internal debt is raised to support the government&rsquo;s annual budget. In order to manage this, Nepal Rastra Bank is going to raise the amount every 4 months through the issuance of treasury bills, development bonds, citizen savings bonds and foreign employment saving bonds till the end of next year. The highest amount of the internal debt will be raised during the third quarter of FY 2077/78.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank will be raising Rs 57 billion in the first quarter, Rs 58 billion in the second quarter and Rs 112 billion in the third quarter. The central bank used to publish schedules for raising the internal debt in a quarterly basis. However, the loan will be raised every four months in the current fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank&rsquo;s National Debt Management Department has set a target to raise Rs 70 billion in the first four months by issuing treasury bills with maturity ranging from 28 days to 364 days. This is 31.1 percent of the total target. Similarly, there is a target of raising Rs 150 billion through the issuance of development bonds with a maturity of 5 to 10 years. This is 66.7 percent of the total internal debt. Similarly, Rs 4 billion will be raised through 5-year citizen bonds. This is 1.8 percent of the total target.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Foreign employment savings bonds will be issued with a target of raising Rs 1 billion through it. It is 0.4 percent of the total internal debt target. Citizen savings bonds and foreign employment savings bonds have not been included in the first four months.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The government has announced that it aims to raise an internal debt of Rs 225 billion for the budget of FY 2077/78. The target was Rs 150 billion in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Banks have not been able to give out loans as they had estimated due to the coronavirus pandemic. As a result, there is a liquidity of more than Rs 200 billion in the market. The central bank has also recently issued deposit collection tool and Treasury bills to manage the liquidity.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank issued a tender notice for selling 9-year development bonds worth Rs 20 billion through September 27. Similarly, it announced tender bids for selling Treasury bills worth Rs 3.10 billion on September 28. Bankers are hoping that these tools will help in managing the excess liquidity to some extent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to the provisions of Nepal Rastra Bank Act, 2058 and Nation Debt Act, 2059, the central bank raises the internal debt on behalf of the government.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Every year, a letter is written to the central bank by the Ministry of Finance requesting the bank to raise the amount of internal debt as specified in the annual budget. NRB Spokesperson Dr Gunakar Bhatt explains that after receiving the letter, the Open Market Operations Committee of the National Debt Management Department prepares an annual internal debt collection schedule, specifying the amount to be collected by the respective tools.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to him, the internal debt will be raised as per the date fixed for bidding or issuance in the schedule. However, the committee said that the Open Market Operations Committee has the right to make necessary changes to it. The schedule has been made public after the Ministry of Finance approved upon the recommendation of the committee.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Under the management of the internal debt, the money accumulated through the issuance and auctions of government bonds are deposited in the internal debt account of the Government of Nepal. The principal and interest amount is paid to the bondholders on the date of maturity of the bond. Activities such as keeping records of issued bonds, preparing and distributing bond certificates, transfer of bonds as required, etc. are also done. The Government of Nepal is fully responsible for all government bonds along with the management of the secondary market for these bonds.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12535',
			'article_category_id' => '1',
			'title' => 'WB Approves USD 150 Million Project to support Federalism in Nepal’s Secondary Cities',
			'sub_title' => '',
			'summary' => 'September 28: The World Bank on Monday (September 28) approved a $150 million project to help Nepal strengthen service delivery and institutional capacities in strategic secondary cities, and to support the post-COVID-19 economic recovery.  ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 28:</span></span><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The World Bank on Monday (September 28) approved a $150 million project to help Nepal strengthen service delivery and institutional capacities in strategic secondary cities, and to support the post-COVID-19 economic recovery.&nbsp; </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a statement issued by the World Bank, the project is unique in that it puts the municipalities in front and center in project implementation, in full alignment with federalism principles enshrined in the 2015 Constitution of Nepal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&ldquo;In the context of rapid urbanization, federalism and COVID-19, providing support to strengthen institutions for effective local service delivery in Nepal&rsquo;s secondary cities, and extending targeted support to vulnerable groups affected by the impact of the pandemic is critical,&rdquo;&nbsp;the statement quoted Faris Hadad-Zervos, World Bank country director for the Maldives, Nepal and Sri Lanka as saying. &ldquo;Our support will help build capacity of key municipalities, enhance local accountability, and accelerate COVID-19 recovery by short-term employment for vulnerable groups as well as service delivery,&rdquo; he added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;According to the World Bank, the Nepal Urban Governance and Infrastructure Project will support municipalities located in two strategic urban clusters: Eastern-Terai region (Provinces 1 and 2) and Western region (Gandaki Province and Province 5). </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The selected municipalities in these areas are key to Nepal&rsquo;s economic development and are centers for commercial and administrative activities, the World Bank noted. Through the creation of Nepal&rsquo;s first dedicated Urban Sector Grant, the project will finance strategic infrastructure in the targeted cities, based on the priorities of the municipalities and their citizens.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The project will also support capacity building for the municipalities for improved urban management and with strong focus on citizen engagement, enabling targeted municipalities to better plan, manage and execute service delivery and urban management activities, the statement added. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">In this way, the project ensures that the capacity of municipalities is built in relation to functions that they perform (learning by doing), and that municipalities are held accountable by citizens and national government.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The project will finance small scale labor intensive public works, thus creating temporary jobs for at least 20,000 people across the country, including women and other vulnerable groups. The project also includes a contingency emergency response component to reallocate project funds to support emergency response and recovery.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;&ldquo;The project is a critical milestone in that it is the first World Bank project in Nepal to directly support federalism,&rdquo; stated&nbsp;Jonas Ingemann Parby, the project task team leader and senior urban specialist&nbsp;of the World Bank. &ldquo;Equally importantly, the project includes best practices in climate resilience, gender equality, social inclusion and citizen engagement, which the federal, provincial and local governments can take on.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The World Bank said that the project is fully aligned with government policies and strategies, including the National Urban Development Strategy, and is harmonized with the overall support provided by the government and development partners towards the implementation of federalism in Nepal.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12534',
			'article_category_id' => '1',
			'title' => 'Businesses faltering Despite the Onset of Festive Season ',
			'sub_title' => '',
			'summary' => 'September 29: With the big festivals like Dashain and Tihar just around the corner, the market by now should have been bustling with growing sales. ',
			'content' => '<p><em>This file photo shows down town Kathmandu bustling with buyers during Dashain last year.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 29: With the big festivals like Dashain and Tihar just around the corner, the market by now should have been bustling with growing sales. However, due to the effects of Covid-19, the market has not seen much activity this year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">In previous years, half of the annual trade took place during Dashain and Tihar. But this year, traders say that even during Dashain and Tihar, sales of textile business are below 20 percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Ram Chandra Parajuli, treasurer of the National Trade Association of New Road, informed that despite the increase in people&#39;s activities in the market after the lockdown and restriction business has not increased as expected due to the decline in purchasing power of the consumers.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Even though public transport is open, traders from outside the valley have not been able to enter the valley to buy goods due to the risk of the virus. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Parajuli informed that the traders who once bought goods worth Rs 100,000 are only able to trade worth of Rs 40,000 to Rs 50,000. The sale of footwear and clothes generally increases by almost 40 percent during Dashain and Tihar festivals but has now declined down due to Covid-19. Similarly, entrepreneurs also informed that the consumption of food grains used to rise during this time.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12533',
			'article_category_id' => '1',
			'title' => 'Private Sector Demands Implementation of Policy Reforms ',
			'sub_title' => '',
			'summary' => 'September 29: At a time when the government has initiated the process of amending laws to attract foreign investment, concerned stakeholders from the private sector have been demanding implementation of the policy reforms. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 29: At a time when the government has initiated the process of amending laws to attract foreign investment, concerned stakeholders from the private sector have been demanding implementation of the policy reforms. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector stakeholders claim that the government cannot achieve anything just by policy-level reforms unless it changes its mentality of suppressing the private sector. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry, Commerce and Supplies is collecting suggestions for amending the laws related to industrial promotion and investment. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector has started sending feedbacks to the government on investment-related laws that are obsolete and impractical.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Economic analyst Jagdish Prasad Agrawal says the initiatives of both the government and the parliament to form committees to study this issue is a clear indication that the government realizes problems existing in the current laws. Agrawal argues that although the government claims investment-friendly laws in the country, its initiative to amend the laws indicates otherwise.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is a positive step to start the process of amending the laws to remove the obstacles in investment. However, there are doubts if the government will address the issue by considering the composition of the present committees formed to address the issue,&rdquo; said Agrawal, who is also the chairman of Nimbus Group.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government considers investment as the main tool for uplifting the economy, says Agrawal, adding that the authorities decided to amend the laws after they failed to attract investment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The laws will be amended based on the recommendation of a report prepared by a sub-committee headed by a joint secretary of the Ministry of Industry, Commerce and Supplies. The sub-committee is expected to prepare its report within one and a half months.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12532',
			'article_category_id' => '1',
			'title' => 'Api Power Company finalizes Consortium Loan for Chameliya Hydropower Project',
			'sub_title' => '',
			'summary' => 'September 29: Api Power Company has concluded the financial closure for 40MW Chameliya Hydropower Project. ',
			'content' => '<p><em>This picture taken from the website of Api Power Company shows the site of Chameliya Hydropower Project.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Times">September 29: Api Power Company has concluded the financial closure for 40MW Chameliya Hydropower Project. A consortium of banks led by Himalayan Bank has agreed to provide a loan of Rs 5.18 billion to the company. The loan amount is said to be 70 percent of the total project cost, which is estimate to be Rs 7.4 billion. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Times">Other members of the consortium include Employees&rsquo; Provident Fund, Rastriya Banijya Bank, Nepal Bank, Nepal Bangladesh Bank and Century Commercial Bank.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The hydropower company had signed a deal for the consortium loan on Sunday (September 27). Out of the total cost of the project, the company intends to generate 30 percent financing by issuing rights shares. The company is expected to raise Rs 2.22 billion by issuing rights shares.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The 40MW Chameliya Hydropower Project is the third undertaking of Api Power Company. The project is expected to generate 264.1 million units of electricity every year. </span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12548',
			'article_category_id' => '1',
			'title' => 'Work Procedure of SSF Gathering Dust at Prime Minister’s Office',
			'sub_title' => '',
			'summary' => 'October 4: A proposal forwarded to the Office of the Prime Minister and Council of Ministers six months ago by the labour ministry for providing loan to the contributors of the Social Security Fund (SSF) is gathering dust office.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 4: A proposal forwarded to the Office of the Prime Minister and Council of Ministers six months ago by the labour ministry for providing loan to the contributors of the Social Security Fund (SSF) is gathering dust office. The proposal includes work procedure prepared by the SSF to provide loan to the contributors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SSF had proposed providing a maximum of Rs 7.5 million loan to those who have contributed to the fund for three consecutive years. As per the proposal, the loan amount will be calculated on the basis of basic salary of the contributor for 15 years and cannot exceed the maximum limit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prime minister&rsquo;s office has a committee comprising of high-level officials from the finance ministry that decides on the proposals to be sent to the Council of Ministers (cabinet).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The officials have refused to forward the proposal to the cabinet arguing that the SSF is not an institution to provide loan. On the other hand, the Employees Provident Fund (EPF) and the Citizens Investment Trust (CIT) have been providing loans to the employees since their inception. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Deputy Executive Director of SSF Bivek Panthi says that the delay in approval of the work procedure has prevented them from investing Rs 2.6 billion that they have collected so far. He argues that it is unfair to allow EPF to provide loan and bar them from doing so.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The employees are the same. The decision to halt the approval of the proposal reflects discrimination,&rdquo; says Panthi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The work procedure proposed investing the fund collected by SSF in government bonds, fixed deposit accounts of BFIs or in long-term deposit plans. It also proposes investing the amount on BFIs or other companies and in mutual funds.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, joint secretary of finance ministry Jhakka Acharya says that the bylaws of the SSF does not allow it to provide loans.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In recent days, there is a growing attraction toward SSF. On Friday, around 176,000 employees associated with 12,780 organisations were listed with the&nbsp; SSF.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the lockdown period, companies related to the tourism industry, aviation sector, industries, NGOs, finance companies, media houses among others were registered with the SSF.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12547',
			'article_category_id' => '1',
			'title' => 'Handicraft Industry Struggling to Normalize',
			'sub_title' => '',
			'summary' => 'October 1: The handicraft industry of Nepal is producing products at 20 percent of its full capacity.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 1: The handicraft industry of Nepal is producing products at 20 percent of its full capacity. The production of Nepal&rsquo;s handicraft&nbsp; industry had declined by 80 percent before the lockdown on March 24 after the number of tourists stopped visiting the country due to fear of coronavirus. Even the demand for handicraft has gone down significantly, due to which the manufacturers have reduced their production. Stakeholders say there isn&rsquo;t any new demand after the start of the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Handicraft entrepreneurs say they are operating their industries only to fulfill the demand for felt, pashmina, woodcarvings and silverwares that were ordered before the lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been learnt that around 60 percent workers in this field have been rendered jobless after the handicraft industry started producing at 20 percent capacity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of Federation of Nepal Handicraft Association Surendra Bhai Shakya says they are unable to increase production due to lack of demand from overseas.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What can we do by just increasing production? There isn&rsquo;t any sale. How long can we stock the products?&rdquo; questioned Shakya. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After firing the workers, Shakya says they are worried about getting skilled workers later when the situation gets normal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data of FHAN, the domestic market of Nepal consumes handicraft materials worth Rs 6 billion every year. The USA, China and European countries are the major markets for Nepalese handicraft products. Nepal exports handicraft products worth Rs 11 to 15 billion to these countries annually. Even those who purchase handicraft products in Nepal are foreigners.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The handicraft entrepreneurs have been forced to export their products at three times higher price due to unavailability of flights during global lockdown. The problem has not resolved although regular flights have&nbsp; resumed. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Nepal Export Council Hari Bahadur Karki says only limited airline companies are operating flights to and from Nepal and the airliners charge them fare as high as that of chartered flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government has lifted restrictions, places like Basantapur, Thamel, Patan and other areas where these products are sold do not have any customers at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders say their business is in peril because the handicraft industry is directly linked with the tourism industry.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12546',
			'article_category_id' => '1',
			'title' => 'Nepal Signs Labor agreement with Israel to Send Nepali Workers on G2G Basis',
			'sub_title' => '',
			'summary' => 'October 1: The Government of Nepal has signed a bilateral labor agreement with Israel for sending Nepali workers to Israel. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">October 1: The Government of Nepal has signed a bilateral labor agreement with Israel for sending Nepali workers to Israel. Nepal&rsquo;s Ambassador to Israel Dr Anjan Shakya and Israel&rsquo;s Foreign Minister Gabi Askhenaji signed the agreement on Wednesday, September 30.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Earlier, the government had signed a labor agreement in 2015 but it was not implemented properly. Nepal&#39;s private manpower companies have been supplying Nepali workers to Israel for employment under previous agreement. However, now according to the new agreement, the government itself will be sending workers to Israel for work on G2G basis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government is currently sending workers to South Korea through the G2G agreement. The same model has been agreed with Israel. According to the labor agreement with Israel, Nepali citizens who want to travel to Israel &nbsp;&nbsp;for employment will only be required to pay the visa fee, medical examination charge, the amount to be deposited in the welfare fund, and the orientation fee.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the agreement is considered to be opposite to the government&#39;s commitment and policy. The government had decided to adopt the policy of &#39;free visa, free ticket&#39; in June 2015. The government has been taking action against the manpower companies that do not follow such policy.</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2020-10-01 16:18:57',
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	(int) 3 => array(
		'Article' => array(
			'id' => '12545',
			'article_category_id' => '1',
			'title' => 'Nepal Reeling under the Weight of Loan Assistance from India',
			'sub_title' => '',
			'summary' => 'October 1: There is a general understanding among the public that India has been providing support for the development of Nepal in proportion to the close social and commercial proximity it has with Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">October 1: There is a general understanding among the public that India has been providing support for the development of Nepal in proportion to the close social and commercial proximity it has with Nepal. However, figures point out otherwise.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Data reveal that the amount of loan India has been providing to Nepal in the recent years overshadow the assistance it has been providing. It is clearly evident that India has increased the weightage of loan on Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Ministry of Finance, India does not fall among the top five countries that provide financial aid to Nepal. However, it ranks fourth among the list of Nepal&rsquo;s creditors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India also does not fall among the top five countries that provide technical support to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India, which has been taking advantage from Nepal by making it one of the major destinations to export its products, has adopted a strategy of debt-trap diplomacy in the name of development support, according to experts. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the fiscal year 2018/19, India provided financial support worth USD 58.94 million for development purpose. Out of that amount, USD 45.95 was loan assistance. Only USD 10.5 million provided by India during the review period was grant, according to data of finance ministry. During FY 2018/19, India had provided technical assistance worth USD 2.38 million to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the last one year, the amount of loan Nepal received from India was 78 percent of the total assistance. India&rsquo;s grant assistance and technical support were 18 percent and 4 percent respectively, reveals data maintained by the finance ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India has been supporting four projects in Nepal with its loan assistance. Under the reconstruction works, India has set a target to spend USD 15 million for rebuilding infrastructures damaged by the 2015 earthquakes in Gorkha and Nuwakot districts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;"><img alt="" src="/app/webroot/userfiles/images/My%20Effect.jpg" style="height:600px; width:649px" /></span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Economic Census of Nepal states that foreign grants to Nepal has declined because of the improvement in per capital income of Nepal and the purchasing power of its citizens. However, economists do not agree with this statistics prepared by the government. It is a matter of concern that the number of countries providing loan assistance to Nepal is increasing on top of the loan amount, says economist Bishwambher Pyakurel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Loan is a kind of white elephant. Those who provide loan give it on certain conditions. It becomes a threat to the economy is the loan is not utilized properly,&rdquo; says Prof Dr Pyakurel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Another economist Dr Posh Raj Pandey says bilateral loan is more risky than multilateral loan. He is of the view that the loan taken by Nepal from India and China could cause an impact on its diplomatic relations with the neighbours.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12544',
			'article_category_id' => '1',
			'title' => 'Minister Bhatta Warns of Stern Action Against Blackmarketing',
			'sub_title' => '',
			'summary' => 'October 1: Minister for Industry, Commerce and Supplies Lekhraj Bhatta has warned of stern action against anyone found cheating consumers under any pretext.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 1: Minister for Industry, Commerce and Supplies Lekhraj Bhatta has warned of stern action against anyone found cheating consumers under any pretext.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Speaking at a press conference organised to inform about the achievements made since he took charge of the ministry, Bhatta said he has been working tirelessly for the welfare of consumers and labourers. He added that the ministry would strict action against blackmarketing.</span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/shankerlogo%202.jpg" style="height:240px; width:286px" /></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Bhatta informed that the government has taken action against Jagadamba Steels under Shankar Group for producing sub-standard materials and is making attempts to unfold other such activities of the company. He also urged one and all not to doubt the government&rsquo;s commitment to take action against those who cheat the consumers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are making efforts to remove the sub-standard product from the market and destroy them,&rdquo; said Bhatta.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Bhatta further said that they are in the process of destroying 300 tons of steel produced by Jagadamba Steels for not meeting the criteria set by the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The minister claimed that he himself goes out for market monitoring to ensure that the public does not get cheated. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12543',
			'article_category_id' => '1',
			'title' => '43 Companies Submit Proposals for Construction of Tunnels and Bridges along KTM-Terai Fast Track',
			'sub_title' => '',
			'summary' => 'October 1: Altogether 43 companies have submitted proposals for the construction of tunnels and bridges under the Kathmandu-Tarai Fast Track Project. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">October 1: Altogether 43 companies have submitted proposals for the construction of tunnels and bridges under the Kathmandu-Tarai Fast Track Project. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Nepalese Army, which has been handed the responsibility of overseeing the fast track project by the government, announced on Wednesday (September 30) that the 43 companies have met the criteria required for the construction of the tunnel and bridges in 11 clusters. Those infrastructures will be constructed in two packages, informed the army.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Nepalese Army had earlier issued tender for the construction of the tunnels and bridges, which falls under the complicated works under the project.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Nepalese Army, a total of 21 companies have submitted proposals for the construction of infrastructures under Package 1 of the project that falls between Chokredanda to Dhedrekhola. Likewise, 22 companies have submitted proposals for the Package 2, which falls between Dhedrekhola to Lanedanda.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Those companies have fulfilled the requirement of having prior experience in planning, designing, engineering, procurement and construction of infrastructures like tunnels and bridges, informed the army.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Army Spokesperson Brigadier General Santosh Poudel informed that an evaluation committee will go through the proposals and shortlist qualified companies for the project within two weeks.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The fast track will have three tunnels and 16 bridges. The Nepalese Army has completed the works of drilling along the 72.5 kilometer fast track. Out of the total length of the fast track,&nbsp; tunnels will be of 6.41 kilometers in length.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12542',
			'article_category_id' => '1',
			'title' => 'Remittance Inflow Remains Above Average Despite Coronavirus Pandemic',
			'sub_title' => '',
			'summary' => 'September 30: Inflow of remittance to Nepal has been above average in the last few months despite fears that the coronavirus pandemic would lead to a decline in remittance to Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: Inflow of remittance to Nepal has been above average in the last few months despite fears that the coronavirus pandemic would lead to a decline in remittance to Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Inflow of remittance has remained above average in the last four months. During mid-August to mid-September, remittance inflow to Nepal was around Rs 85 billion, according to Nepal Remitters&rsquo; Association, which is above average. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the latest date, the average monthly inflow of remittance to Nepal is Rs 73 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The inflow of remittance in mid-July to mid-August was 92.71 billion. It means that the remittance inflow in the first two months of the current fiscal year was Rs 177 billion, which is 15.59 percent more than the figures compared to the corresponding period of last fiscal year. During the first two months of the last fiscal year, the inflow of remittance to Nepal was Rs 153 billion.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12539',
			'article_category_id' => '1',
			'title' => 'Tatopani Customs to Open from October 5',
			'sub_title' => '',
			'summary' => 'September 30: Tatopani, one of the major customs points along Nepal-China border, will come into operation from October 5. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: Tatopani, one of the major customs points along Nepal-China border, will come into operation from October 5. The border point has remained closed since the last seven months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials of the two countries on Tuesday (September 29) decided to reopen the border point from next week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border point was opened briefly some months ago but had to be closed following landslides in Jambu bazar of Sindhupalchowk district on July 10. It was again opened later but had to be closed due to rising threat of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials of the two countries have agreed to unload goods from China at the Liping bridge and the workers from Nepal would be allowed to bring the goods into Nepal from there. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The workers from Nepal have been divided into two groups and they include drivers, helpers and manual labourers. The PCR test of all 25 members of the first group has been taken, informed Nepali authorities. The Chinese side has told Nepal to keep the second group of 28 workers ready, says chief of the Tatopani Customs Point Lal Bahadur Khatri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Khatri, all the drivers and labourers deployed in the border area will undergo PCR tests in every five days. The tests will be conducted by the Chinese side.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal-bound goods that have been stranded across the border will be released from October 5, informed Khatri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This is expected to provide some relief to the importers for the upcoming Dashain festival.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12538',
			'article_category_id' => '1',
			'title' => 'Industries Increase Production Post Lockdown ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>An industry within the premises of Special Economic Zone in this file photo.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 30: The industries that had lowered their production significantly due to the lockdown and restriction for the past six months have gradually started to increase their production. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Industries and factories produced only 15 to 25 percent of their full capacity during the lockdown period. However, they have increased their production by up to 60 percent of their capacity after the one-month restriction was lifted on September 20.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government finally lifted the lockdown, which was in force since March 24, and the subsequent restriction on September 20. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Rajesh Agrawal, managing director of RMC Group, informed that the industrial and business sector, which have been reeling under the effect of lockdown for about six, can now finally pick up pace within a month and a half.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Agarwal, who is also the vice-president of the Confederation of Nepalese Industries (CNI), informed that the industrial sector can now pick up pace as all kinds of industrialists have agreed to engage in production by following the security protocols set by the government.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">RMC Group, which has been producing construction materials including Palpa Cement, is currently producing only 25 to 30 percent of the total capacity. &quot;The production of the materials will be increased after Dashain,&quot; Agrawal informed.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12537',
			'article_category_id' => '1',
			'title' => 'Government to Issue on-arrival Visa to Tourists from October 17',
			'sub_title' => '',
			'summary' => 'September 30: The government has decided to issue on-arrival visa for tourists from October 17. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: The government has decided to issue on-arrival visa for tourists from October 17. The on-arrival visa facility was suspended since the last six months due to coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, the government had decided to open trekking and expeditions for foreigners from October 17 but the tourism entrepreneurs were concerned about the delay in announcing on-arrival visas. They had time and again demanded the government to issue on-arrival visas because tourists were in dilemma whether or not to visit Nepal due to the delay in such announcement. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Finally, the government decided to allow foreign visitors who fulfill all the health protocols set by the government. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the ministry is coordinating with Nepal Rastra Bank and home ministry as well as the immigration department to make the on-arrival visa payment system seamless and hassle free.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Tourism Department Rudra Singh Tamang informed that the government has decided to issue on-arrival visas for tourists travelling in groups and that the visitors need to mandatorily stay in quarantine for a week upon their arrival in Nepal. The tourists also need to show their PCR test report taken within 72 hours in order to enter Nepal. The immigration department will cross-check the report while issuing the on-arrival visa. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The expedition teams visiting Nepal will have to purchase insurance policy of at least Rs 100,000 for coronavirus in order to get permission for climbing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tourism entrepreneurs have expressed reservation regarding this decision of the government. They claim than although the decision to open Nepal for tourists is a positive step, other mandatory provisions like one-week quarantine and PCR tests would only dissuade the visitors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They say that the government took such measures against the recommendation made by the tourism stakeholders. They have also demanded PCR test at the Tribhuvan International Airport itself. The tourism entrepreneurs argue that the tourists have to travel through different transit points so the PCR test taken 72 hours ago might not be relevant.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12536',
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			'title' => 'Central Bank Raising Internal Debt worth Rs 225 billion',
			'sub_title' => '',
			'summary' => 'September 29: Nepal Rastra Bank has published its annual schedule to raise billion of rupees as internal debt due to excessive liquidity in banks and financial institutions. ',
			'content' => '<h1><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">September 29: Nepal Rastra Bank has published its annual schedule to raise billion of rupees as internal debt due to excessive liquidity in banks and financial institutions. The central bank will be raising Rs 225 billion internal debt for the government in the current fiscal year.</span></span></span></h1>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Internal debt is raised to support the government&rsquo;s annual budget. In order to manage this, Nepal Rastra Bank is going to raise the amount every 4 months through the issuance of treasury bills, development bonds, citizen savings bonds and foreign employment saving bonds till the end of next year. The highest amount of the internal debt will be raised during the third quarter of FY 2077/78.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank will be raising Rs 57 billion in the first quarter, Rs 58 billion in the second quarter and Rs 112 billion in the third quarter. The central bank used to publish schedules for raising the internal debt in a quarterly basis. However, the loan will be raised every four months in the current fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank&rsquo;s National Debt Management Department has set a target to raise Rs 70 billion in the first four months by issuing treasury bills with maturity ranging from 28 days to 364 days. This is 31.1 percent of the total target. Similarly, there is a target of raising Rs 150 billion through the issuance of development bonds with a maturity of 5 to 10 years. This is 66.7 percent of the total internal debt. Similarly, Rs 4 billion will be raised through 5-year citizen bonds. This is 1.8 percent of the total target.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Foreign employment savings bonds will be issued with a target of raising Rs 1 billion through it. It is 0.4 percent of the total internal debt target. Citizen savings bonds and foreign employment savings bonds have not been included in the first four months.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The government has announced that it aims to raise an internal debt of Rs 225 billion for the budget of FY 2077/78. The target was Rs 150 billion in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Banks have not been able to give out loans as they had estimated due to the coronavirus pandemic. As a result, there is a liquidity of more than Rs 200 billion in the market. The central bank has also recently issued deposit collection tool and Treasury bills to manage the liquidity.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank issued a tender notice for selling 9-year development bonds worth Rs 20 billion through September 27. Similarly, it announced tender bids for selling Treasury bills worth Rs 3.10 billion on September 28. Bankers are hoping that these tools will help in managing the excess liquidity to some extent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to the provisions of Nepal Rastra Bank Act, 2058 and Nation Debt Act, 2059, the central bank raises the internal debt on behalf of the government.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Every year, a letter is written to the central bank by the Ministry of Finance requesting the bank to raise the amount of internal debt as specified in the annual budget. NRB Spokesperson Dr Gunakar Bhatt explains that after receiving the letter, the Open Market Operations Committee of the National Debt Management Department prepares an annual internal debt collection schedule, specifying the amount to be collected by the respective tools.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to him, the internal debt will be raised as per the date fixed for bidding or issuance in the schedule. However, the committee said that the Open Market Operations Committee has the right to make necessary changes to it. The schedule has been made public after the Ministry of Finance approved upon the recommendation of the committee.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Under the management of the internal debt, the money accumulated through the issuance and auctions of government bonds are deposited in the internal debt account of the Government of Nepal. The principal and interest amount is paid to the bondholders on the date of maturity of the bond. Activities such as keeping records of issued bonds, preparing and distributing bond certificates, transfer of bonds as required, etc. are also done. The Government of Nepal is fully responsible for all government bonds along with the management of the secondary market for these bonds.</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12535',
			'article_category_id' => '1',
			'title' => 'WB Approves USD 150 Million Project to support Federalism in Nepal’s Secondary Cities',
			'sub_title' => '',
			'summary' => 'September 28: The World Bank on Monday (September 28) approved a $150 million project to help Nepal strengthen service delivery and institutional capacities in strategic secondary cities, and to support the post-COVID-19 economic recovery.  ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 28:</span></span><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The World Bank on Monday (September 28) approved a $150 million project to help Nepal strengthen service delivery and institutional capacities in strategic secondary cities, and to support the post-COVID-19 economic recovery.&nbsp; </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a statement issued by the World Bank, the project is unique in that it puts the municipalities in front and center in project implementation, in full alignment with federalism principles enshrined in the 2015 Constitution of Nepal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&ldquo;In the context of rapid urbanization, federalism and COVID-19, providing support to strengthen institutions for effective local service delivery in Nepal&rsquo;s secondary cities, and extending targeted support to vulnerable groups affected by the impact of the pandemic is critical,&rdquo;&nbsp;the statement quoted Faris Hadad-Zervos, World Bank country director for the Maldives, Nepal and Sri Lanka as saying. &ldquo;Our support will help build capacity of key municipalities, enhance local accountability, and accelerate COVID-19 recovery by short-term employment for vulnerable groups as well as service delivery,&rdquo; he added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;According to the World Bank, the Nepal Urban Governance and Infrastructure Project will support municipalities located in two strategic urban clusters: Eastern-Terai region (Provinces 1 and 2) and Western region (Gandaki Province and Province 5). </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The selected municipalities in these areas are key to Nepal&rsquo;s economic development and are centers for commercial and administrative activities, the World Bank noted. Through the creation of Nepal&rsquo;s first dedicated Urban Sector Grant, the project will finance strategic infrastructure in the targeted cities, based on the priorities of the municipalities and their citizens.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The project will also support capacity building for the municipalities for improved urban management and with strong focus on citizen engagement, enabling targeted municipalities to better plan, manage and execute service delivery and urban management activities, the statement added. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">In this way, the project ensures that the capacity of municipalities is built in relation to functions that they perform (learning by doing), and that municipalities are held accountable by citizens and national government.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The project will finance small scale labor intensive public works, thus creating temporary jobs for at least 20,000 people across the country, including women and other vulnerable groups. The project also includes a contingency emergency response component to reallocate project funds to support emergency response and recovery.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;&ldquo;The project is a critical milestone in that it is the first World Bank project in Nepal to directly support federalism,&rdquo; stated&nbsp;Jonas Ingemann Parby, the project task team leader and senior urban specialist&nbsp;of the World Bank. &ldquo;Equally importantly, the project includes best practices in climate resilience, gender equality, social inclusion and citizen engagement, which the federal, provincial and local governments can take on.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The World Bank said that the project is fully aligned with government policies and strategies, including the National Urban Development Strategy, and is harmonized with the overall support provided by the government and development partners towards the implementation of federalism in Nepal.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12534',
			'article_category_id' => '1',
			'title' => 'Businesses faltering Despite the Onset of Festive Season ',
			'sub_title' => '',
			'summary' => 'September 29: With the big festivals like Dashain and Tihar just around the corner, the market by now should have been bustling with growing sales. ',
			'content' => '<p><em>This file photo shows down town Kathmandu bustling with buyers during Dashain last year.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 29: With the big festivals like Dashain and Tihar just around the corner, the market by now should have been bustling with growing sales. However, due to the effects of Covid-19, the market has not seen much activity this year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">In previous years, half of the annual trade took place during Dashain and Tihar. But this year, traders say that even during Dashain and Tihar, sales of textile business are below 20 percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Ram Chandra Parajuli, treasurer of the National Trade Association of New Road, informed that despite the increase in people&#39;s activities in the market after the lockdown and restriction business has not increased as expected due to the decline in purchasing power of the consumers.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Even though public transport is open, traders from outside the valley have not been able to enter the valley to buy goods due to the risk of the virus. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Parajuli informed that the traders who once bought goods worth Rs 100,000 are only able to trade worth of Rs 40,000 to Rs 50,000. The sale of footwear and clothes generally increases by almost 40 percent during Dashain and Tihar festivals but has now declined down due to Covid-19. Similarly, entrepreneurs also informed that the consumption of food grains used to rise during this time.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12533',
			'article_category_id' => '1',
			'title' => 'Private Sector Demands Implementation of Policy Reforms ',
			'sub_title' => '',
			'summary' => 'September 29: At a time when the government has initiated the process of amending laws to attract foreign investment, concerned stakeholders from the private sector have been demanding implementation of the policy reforms. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 29: At a time when the government has initiated the process of amending laws to attract foreign investment, concerned stakeholders from the private sector have been demanding implementation of the policy reforms. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector stakeholders claim that the government cannot achieve anything just by policy-level reforms unless it changes its mentality of suppressing the private sector. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry, Commerce and Supplies is collecting suggestions for amending the laws related to industrial promotion and investment. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector has started sending feedbacks to the government on investment-related laws that are obsolete and impractical.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Economic analyst Jagdish Prasad Agrawal says the initiatives of both the government and the parliament to form committees to study this issue is a clear indication that the government realizes problems existing in the current laws. Agrawal argues that although the government claims investment-friendly laws in the country, its initiative to amend the laws indicates otherwise.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is a positive step to start the process of amending the laws to remove the obstacles in investment. However, there are doubts if the government will address the issue by considering the composition of the present committees formed to address the issue,&rdquo; said Agrawal, who is also the chairman of Nimbus Group.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government considers investment as the main tool for uplifting the economy, says Agrawal, adding that the authorities decided to amend the laws after they failed to attract investment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The laws will be amended based on the recommendation of a report prepared by a sub-committee headed by a joint secretary of the Ministry of Industry, Commerce and Supplies. The sub-committee is expected to prepare its report within one and a half months.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12532',
			'article_category_id' => '1',
			'title' => 'Api Power Company finalizes Consortium Loan for Chameliya Hydropower Project',
			'sub_title' => '',
			'summary' => 'September 29: Api Power Company has concluded the financial closure for 40MW Chameliya Hydropower Project. ',
			'content' => '<p><em>This picture taken from the website of Api Power Company shows the site of Chameliya Hydropower Project.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Times">September 29: Api Power Company has concluded the financial closure for 40MW Chameliya Hydropower Project. A consortium of banks led by Himalayan Bank has agreed to provide a loan of Rs 5.18 billion to the company. The loan amount is said to be 70 percent of the total project cost, which is estimate to be Rs 7.4 billion. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Times">Other members of the consortium include Employees&rsquo; Provident Fund, Rastriya Banijya Bank, Nepal Bank, Nepal Bangladesh Bank and Century Commercial Bank.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The hydropower company had signed a deal for the consortium loan on Sunday (September 27). Out of the total cost of the project, the company intends to generate 30 percent financing by issuing rights shares. The company is expected to raise Rs 2.22 billion by issuing rights shares.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The 40MW Chameliya Hydropower Project is the third undertaking of Api Power Company. The project is expected to generate 264.1 million units of electricity every year. </span></span></p>

<p>&nbsp;</p>
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			'title' => 'Work Procedure of SSF Gathering Dust at Prime Minister’s Office',
			'sub_title' => '',
			'summary' => 'October 4: A proposal forwarded to the Office of the Prime Minister and Council of Ministers six months ago by the labour ministry for providing loan to the contributors of the Social Security Fund (SSF) is gathering dust office.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 4: A proposal forwarded to the Office of the Prime Minister and Council of Ministers six months ago by the labour ministry for providing loan to the contributors of the Social Security Fund (SSF) is gathering dust office. The proposal includes work procedure prepared by the SSF to provide loan to the contributors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SSF had proposed providing a maximum of Rs 7.5 million loan to those who have contributed to the fund for three consecutive years. As per the proposal, the loan amount will be calculated on the basis of basic salary of the contributor for 15 years and cannot exceed the maximum limit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prime minister&rsquo;s office has a committee comprising of high-level officials from the finance ministry that decides on the proposals to be sent to the Council of Ministers (cabinet).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The officials have refused to forward the proposal to the cabinet arguing that the SSF is not an institution to provide loan. On the other hand, the Employees Provident Fund (EPF) and the Citizens Investment Trust (CIT) have been providing loans to the employees since their inception. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Deputy Executive Director of SSF Bivek Panthi says that the delay in approval of the work procedure has prevented them from investing Rs 2.6 billion that they have collected so far. He argues that it is unfair to allow EPF to provide loan and bar them from doing so.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The employees are the same. The decision to halt the approval of the proposal reflects discrimination,&rdquo; says Panthi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The work procedure proposed investing the fund collected by SSF in government bonds, fixed deposit accounts of BFIs or in long-term deposit plans. It also proposes investing the amount on BFIs or other companies and in mutual funds.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, joint secretary of finance ministry Jhakka Acharya says that the bylaws of the SSF does not allow it to provide loans.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In recent days, there is a growing attraction toward SSF. On Friday, around 176,000 employees associated with 12,780 organisations were listed with the&nbsp; SSF.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the lockdown period, companies related to the tourism industry, aviation sector, industries, NGOs, finance companies, media houses among others were registered with the SSF.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 1 => array(
		'Article' => array(
			'id' => '12547',
			'article_category_id' => '1',
			'title' => 'Handicraft Industry Struggling to Normalize',
			'sub_title' => '',
			'summary' => 'October 1: The handicraft industry of Nepal is producing products at 20 percent of its full capacity.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 1: The handicraft industry of Nepal is producing products at 20 percent of its full capacity. The production of Nepal&rsquo;s handicraft&nbsp; industry had declined by 80 percent before the lockdown on March 24 after the number of tourists stopped visiting the country due to fear of coronavirus. Even the demand for handicraft has gone down significantly, due to which the manufacturers have reduced their production. Stakeholders say there isn&rsquo;t any new demand after the start of the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Handicraft entrepreneurs say they are operating their industries only to fulfill the demand for felt, pashmina, woodcarvings and silverwares that were ordered before the lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been learnt that around 60 percent workers in this field have been rendered jobless after the handicraft industry started producing at 20 percent capacity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of Federation of Nepal Handicraft Association Surendra Bhai Shakya says they are unable to increase production due to lack of demand from overseas.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What can we do by just increasing production? There isn&rsquo;t any sale. How long can we stock the products?&rdquo; questioned Shakya. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After firing the workers, Shakya says they are worried about getting skilled workers later when the situation gets normal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data of FHAN, the domestic market of Nepal consumes handicraft materials worth Rs 6 billion every year. The USA, China and European countries are the major markets for Nepalese handicraft products. Nepal exports handicraft products worth Rs 11 to 15 billion to these countries annually. Even those who purchase handicraft products in Nepal are foreigners.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The handicraft entrepreneurs have been forced to export their products at three times higher price due to unavailability of flights during global lockdown. The problem has not resolved although regular flights have&nbsp; resumed. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Nepal Export Council Hari Bahadur Karki says only limited airline companies are operating flights to and from Nepal and the airliners charge them fare as high as that of chartered flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government has lifted restrictions, places like Basantapur, Thamel, Patan and other areas where these products are sold do not have any customers at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders say their business is in peril because the handicraft industry is directly linked with the tourism industry.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 2 => array(
		'Article' => array(
			'id' => '12546',
			'article_category_id' => '1',
			'title' => 'Nepal Signs Labor agreement with Israel to Send Nepali Workers on G2G Basis',
			'sub_title' => '',
			'summary' => 'October 1: The Government of Nepal has signed a bilateral labor agreement with Israel for sending Nepali workers to Israel. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">October 1: The Government of Nepal has signed a bilateral labor agreement with Israel for sending Nepali workers to Israel. Nepal&rsquo;s Ambassador to Israel Dr Anjan Shakya and Israel&rsquo;s Foreign Minister Gabi Askhenaji signed the agreement on Wednesday, September 30.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Earlier, the government had signed a labor agreement in 2015 but it was not implemented properly. Nepal&#39;s private manpower companies have been supplying Nepali workers to Israel for employment under previous agreement. However, now according to the new agreement, the government itself will be sending workers to Israel for work on G2G basis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government is currently sending workers to South Korea through the G2G agreement. The same model has been agreed with Israel. According to the labor agreement with Israel, Nepali citizens who want to travel to Israel &nbsp;&nbsp;for employment will only be required to pay the visa fee, medical examination charge, the amount to be deposited in the welfare fund, and the orientation fee.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the agreement is considered to be opposite to the government&#39;s commitment and policy. The government had decided to adopt the policy of &#39;free visa, free ticket&#39; in June 2015. The government has been taking action against the manpower companies that do not follow such policy.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
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			'image' => '20201001041928_1601479507.nepal isrel_g2g.jpg',
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	(int) 3 => array(
		'Article' => array(
			'id' => '12545',
			'article_category_id' => '1',
			'title' => 'Nepal Reeling under the Weight of Loan Assistance from India',
			'sub_title' => '',
			'summary' => 'October 1: There is a general understanding among the public that India has been providing support for the development of Nepal in proportion to the close social and commercial proximity it has with Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">October 1: There is a general understanding among the public that India has been providing support for the development of Nepal in proportion to the close social and commercial proximity it has with Nepal. However, figures point out otherwise.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Data reveal that the amount of loan India has been providing to Nepal in the recent years overshadow the assistance it has been providing. It is clearly evident that India has increased the weightage of loan on Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Ministry of Finance, India does not fall among the top five countries that provide financial aid to Nepal. However, it ranks fourth among the list of Nepal&rsquo;s creditors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India also does not fall among the top five countries that provide technical support to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India, which has been taking advantage from Nepal by making it one of the major destinations to export its products, has adopted a strategy of debt-trap diplomacy in the name of development support, according to experts. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the fiscal year 2018/19, India provided financial support worth USD 58.94 million for development purpose. Out of that amount, USD 45.95 was loan assistance. Only USD 10.5 million provided by India during the review period was grant, according to data of finance ministry. During FY 2018/19, India had provided technical assistance worth USD 2.38 million to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the last one year, the amount of loan Nepal received from India was 78 percent of the total assistance. India&rsquo;s grant assistance and technical support were 18 percent and 4 percent respectively, reveals data maintained by the finance ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India has been supporting four projects in Nepal with its loan assistance. Under the reconstruction works, India has set a target to spend USD 15 million for rebuilding infrastructures damaged by the 2015 earthquakes in Gorkha and Nuwakot districts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;"><img alt="" src="/app/webroot/userfiles/images/My%20Effect.jpg" style="height:600px; width:649px" /></span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Economic Census of Nepal states that foreign grants to Nepal has declined because of the improvement in per capital income of Nepal and the purchasing power of its citizens. However, economists do not agree with this statistics prepared by the government. It is a matter of concern that the number of countries providing loan assistance to Nepal is increasing on top of the loan amount, says economist Bishwambher Pyakurel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Loan is a kind of white elephant. Those who provide loan give it on certain conditions. It becomes a threat to the economy is the loan is not utilized properly,&rdquo; says Prof Dr Pyakurel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Another economist Dr Posh Raj Pandey says bilateral loan is more risky than multilateral loan. He is of the view that the loan taken by Nepal from India and China could cause an impact on its diplomatic relations with the neighbours.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12544',
			'article_category_id' => '1',
			'title' => 'Minister Bhatta Warns of Stern Action Against Blackmarketing',
			'sub_title' => '',
			'summary' => 'October 1: Minister for Industry, Commerce and Supplies Lekhraj Bhatta has warned of stern action against anyone found cheating consumers under any pretext.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 1: Minister for Industry, Commerce and Supplies Lekhraj Bhatta has warned of stern action against anyone found cheating consumers under any pretext.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Speaking at a press conference organised to inform about the achievements made since he took charge of the ministry, Bhatta said he has been working tirelessly for the welfare of consumers and labourers. He added that the ministry would strict action against blackmarketing.</span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/shankerlogo%202.jpg" style="height:240px; width:286px" /></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Bhatta informed that the government has taken action against Jagadamba Steels under Shankar Group for producing sub-standard materials and is making attempts to unfold other such activities of the company. He also urged one and all not to doubt the government&rsquo;s commitment to take action against those who cheat the consumers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are making efforts to remove the sub-standard product from the market and destroy them,&rdquo; said Bhatta.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Bhatta further said that they are in the process of destroying 300 tons of steel produced by Jagadamba Steels for not meeting the criteria set by the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The minister claimed that he himself goes out for market monitoring to ensure that the public does not get cheated. </span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12543',
			'article_category_id' => '1',
			'title' => '43 Companies Submit Proposals for Construction of Tunnels and Bridges along KTM-Terai Fast Track',
			'sub_title' => '',
			'summary' => 'October 1: Altogether 43 companies have submitted proposals for the construction of tunnels and bridges under the Kathmandu-Tarai Fast Track Project. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">October 1: Altogether 43 companies have submitted proposals for the construction of tunnels and bridges under the Kathmandu-Tarai Fast Track Project. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Nepalese Army, which has been handed the responsibility of overseeing the fast track project by the government, announced on Wednesday (September 30) that the 43 companies have met the criteria required for the construction of the tunnel and bridges in 11 clusters. Those infrastructures will be constructed in two packages, informed the army.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Nepalese Army had earlier issued tender for the construction of the tunnels and bridges, which falls under the complicated works under the project.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Nepalese Army, a total of 21 companies have submitted proposals for the construction of infrastructures under Package 1 of the project that falls between Chokredanda to Dhedrekhola. Likewise, 22 companies have submitted proposals for the Package 2, which falls between Dhedrekhola to Lanedanda.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Those companies have fulfilled the requirement of having prior experience in planning, designing, engineering, procurement and construction of infrastructures like tunnels and bridges, informed the army.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Army Spokesperson Brigadier General Santosh Poudel informed that an evaluation committee will go through the proposals and shortlist qualified companies for the project within two weeks.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The fast track will have three tunnels and 16 bridges. The Nepalese Army has completed the works of drilling along the 72.5 kilometer fast track. Out of the total length of the fast track,&nbsp; tunnels will be of 6.41 kilometers in length.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12542',
			'article_category_id' => '1',
			'title' => 'Remittance Inflow Remains Above Average Despite Coronavirus Pandemic',
			'sub_title' => '',
			'summary' => 'September 30: Inflow of remittance to Nepal has been above average in the last few months despite fears that the coronavirus pandemic would lead to a decline in remittance to Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: Inflow of remittance to Nepal has been above average in the last few months despite fears that the coronavirus pandemic would lead to a decline in remittance to Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Inflow of remittance has remained above average in the last four months. During mid-August to mid-September, remittance inflow to Nepal was around Rs 85 billion, according to Nepal Remitters&rsquo; Association, which is above average. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the latest date, the average monthly inflow of remittance to Nepal is Rs 73 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The inflow of remittance in mid-July to mid-August was 92.71 billion. It means that the remittance inflow in the first two months of the current fiscal year was Rs 177 billion, which is 15.59 percent more than the figures compared to the corresponding period of last fiscal year. During the first two months of the last fiscal year, the inflow of remittance to Nepal was Rs 153 billion.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12539',
			'article_category_id' => '1',
			'title' => 'Tatopani Customs to Open from October 5',
			'sub_title' => '',
			'summary' => 'September 30: Tatopani, one of the major customs points along Nepal-China border, will come into operation from October 5. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: Tatopani, one of the major customs points along Nepal-China border, will come into operation from October 5. The border point has remained closed since the last seven months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials of the two countries on Tuesday (September 29) decided to reopen the border point from next week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border point was opened briefly some months ago but had to be closed following landslides in Jambu bazar of Sindhupalchowk district on July 10. It was again opened later but had to be closed due to rising threat of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials of the two countries have agreed to unload goods from China at the Liping bridge and the workers from Nepal would be allowed to bring the goods into Nepal from there. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The workers from Nepal have been divided into two groups and they include drivers, helpers and manual labourers. The PCR test of all 25 members of the first group has been taken, informed Nepali authorities. The Chinese side has told Nepal to keep the second group of 28 workers ready, says chief of the Tatopani Customs Point Lal Bahadur Khatri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Khatri, all the drivers and labourers deployed in the border area will undergo PCR tests in every five days. The tests will be conducted by the Chinese side.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal-bound goods that have been stranded across the border will be released from October 5, informed Khatri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This is expected to provide some relief to the importers for the upcoming Dashain festival.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12538',
			'article_category_id' => '1',
			'title' => 'Industries Increase Production Post Lockdown ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>An industry within the premises of Special Economic Zone in this file photo.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 30: The industries that had lowered their production significantly due to the lockdown and restriction for the past six months have gradually started to increase their production. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Industries and factories produced only 15 to 25 percent of their full capacity during the lockdown period. However, they have increased their production by up to 60 percent of their capacity after the one-month restriction was lifted on September 20.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government finally lifted the lockdown, which was in force since March 24, and the subsequent restriction on September 20. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Rajesh Agrawal, managing director of RMC Group, informed that the industrial and business sector, which have been reeling under the effect of lockdown for about six, can now finally pick up pace within a month and a half.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Agarwal, who is also the vice-president of the Confederation of Nepalese Industries (CNI), informed that the industrial sector can now pick up pace as all kinds of industrialists have agreed to engage in production by following the security protocols set by the government.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">RMC Group, which has been producing construction materials including Palpa Cement, is currently producing only 25 to 30 percent of the total capacity. &quot;The production of the materials will be increased after Dashain,&quot; Agrawal informed.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12537',
			'article_category_id' => '1',
			'title' => 'Government to Issue on-arrival Visa to Tourists from October 17',
			'sub_title' => '',
			'summary' => 'September 30: The government has decided to issue on-arrival visa for tourists from October 17. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: The government has decided to issue on-arrival visa for tourists from October 17. The on-arrival visa facility was suspended since the last six months due to coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, the government had decided to open trekking and expeditions for foreigners from October 17 but the tourism entrepreneurs were concerned about the delay in announcing on-arrival visas. They had time and again demanded the government to issue on-arrival visas because tourists were in dilemma whether or not to visit Nepal due to the delay in such announcement. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Finally, the government decided to allow foreign visitors who fulfill all the health protocols set by the government. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the ministry is coordinating with Nepal Rastra Bank and home ministry as well as the immigration department to make the on-arrival visa payment system seamless and hassle free.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Tourism Department Rudra Singh Tamang informed that the government has decided to issue on-arrival visas for tourists travelling in groups and that the visitors need to mandatorily stay in quarantine for a week upon their arrival in Nepal. The tourists also need to show their PCR test report taken within 72 hours in order to enter Nepal. The immigration department will cross-check the report while issuing the on-arrival visa. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The expedition teams visiting Nepal will have to purchase insurance policy of at least Rs 100,000 for coronavirus in order to get permission for climbing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tourism entrepreneurs have expressed reservation regarding this decision of the government. They claim than although the decision to open Nepal for tourists is a positive step, other mandatory provisions like one-week quarantine and PCR tests would only dissuade the visitors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They say that the government took such measures against the recommendation made by the tourism stakeholders. They have also demanded PCR test at the Tribhuvan International Airport itself. The tourism entrepreneurs argue that the tourists have to travel through different transit points so the PCR test taken 72 hours ago might not be relevant.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12536',
			'article_category_id' => '1',
			'title' => 'Central Bank Raising Internal Debt worth Rs 225 billion',
			'sub_title' => '',
			'summary' => 'September 29: Nepal Rastra Bank has published its annual schedule to raise billion of rupees as internal debt due to excessive liquidity in banks and financial institutions. ',
			'content' => '<h1><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">September 29: Nepal Rastra Bank has published its annual schedule to raise billion of rupees as internal debt due to excessive liquidity in banks and financial institutions. The central bank will be raising Rs 225 billion internal debt for the government in the current fiscal year.</span></span></span></h1>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Internal debt is raised to support the government&rsquo;s annual budget. In order to manage this, Nepal Rastra Bank is going to raise the amount every 4 months through the issuance of treasury bills, development bonds, citizen savings bonds and foreign employment saving bonds till the end of next year. The highest amount of the internal debt will be raised during the third quarter of FY 2077/78.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank will be raising Rs 57 billion in the first quarter, Rs 58 billion in the second quarter and Rs 112 billion in the third quarter. The central bank used to publish schedules for raising the internal debt in a quarterly basis. However, the loan will be raised every four months in the current fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank&rsquo;s National Debt Management Department has set a target to raise Rs 70 billion in the first four months by issuing treasury bills with maturity ranging from 28 days to 364 days. This is 31.1 percent of the total target. Similarly, there is a target of raising Rs 150 billion through the issuance of development bonds with a maturity of 5 to 10 years. This is 66.7 percent of the total internal debt. Similarly, Rs 4 billion will be raised through 5-year citizen bonds. This is 1.8 percent of the total target.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Foreign employment savings bonds will be issued with a target of raising Rs 1 billion through it. It is 0.4 percent of the total internal debt target. Citizen savings bonds and foreign employment savings bonds have not been included in the first four months.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The government has announced that it aims to raise an internal debt of Rs 225 billion for the budget of FY 2077/78. The target was Rs 150 billion in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Banks have not been able to give out loans as they had estimated due to the coronavirus pandemic. As a result, there is a liquidity of more than Rs 200 billion in the market. The central bank has also recently issued deposit collection tool and Treasury bills to manage the liquidity.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank issued a tender notice for selling 9-year development bonds worth Rs 20 billion through September 27. Similarly, it announced tender bids for selling Treasury bills worth Rs 3.10 billion on September 28. Bankers are hoping that these tools will help in managing the excess liquidity to some extent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to the provisions of Nepal Rastra Bank Act, 2058 and Nation Debt Act, 2059, the central bank raises the internal debt on behalf of the government.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Every year, a letter is written to the central bank by the Ministry of Finance requesting the bank to raise the amount of internal debt as specified in the annual budget. NRB Spokesperson Dr Gunakar Bhatt explains that after receiving the letter, the Open Market Operations Committee of the National Debt Management Department prepares an annual internal debt collection schedule, specifying the amount to be collected by the respective tools.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to him, the internal debt will be raised as per the date fixed for bidding or issuance in the schedule. However, the committee said that the Open Market Operations Committee has the right to make necessary changes to it. The schedule has been made public after the Ministry of Finance approved upon the recommendation of the committee.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Under the management of the internal debt, the money accumulated through the issuance and auctions of government bonds are deposited in the internal debt account of the Government of Nepal. The principal and interest amount is paid to the bondholders on the date of maturity of the bond. Activities such as keeping records of issued bonds, preparing and distributing bond certificates, transfer of bonds as required, etc. are also done. The Government of Nepal is fully responsible for all government bonds along with the management of the secondary market for these bonds.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12535',
			'article_category_id' => '1',
			'title' => 'WB Approves USD 150 Million Project to support Federalism in Nepal’s Secondary Cities',
			'sub_title' => '',
			'summary' => 'September 28: The World Bank on Monday (September 28) approved a $150 million project to help Nepal strengthen service delivery and institutional capacities in strategic secondary cities, and to support the post-COVID-19 economic recovery.  ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 28:</span></span><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The World Bank on Monday (September 28) approved a $150 million project to help Nepal strengthen service delivery and institutional capacities in strategic secondary cities, and to support the post-COVID-19 economic recovery.&nbsp; </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a statement issued by the World Bank, the project is unique in that it puts the municipalities in front and center in project implementation, in full alignment with federalism principles enshrined in the 2015 Constitution of Nepal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&ldquo;In the context of rapid urbanization, federalism and COVID-19, providing support to strengthen institutions for effective local service delivery in Nepal&rsquo;s secondary cities, and extending targeted support to vulnerable groups affected by the impact of the pandemic is critical,&rdquo;&nbsp;the statement quoted Faris Hadad-Zervos, World Bank country director for the Maldives, Nepal and Sri Lanka as saying. &ldquo;Our support will help build capacity of key municipalities, enhance local accountability, and accelerate COVID-19 recovery by short-term employment for vulnerable groups as well as service delivery,&rdquo; he added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;According to the World Bank, the Nepal Urban Governance and Infrastructure Project will support municipalities located in two strategic urban clusters: Eastern-Terai region (Provinces 1 and 2) and Western region (Gandaki Province and Province 5). </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The selected municipalities in these areas are key to Nepal&rsquo;s economic development and are centers for commercial and administrative activities, the World Bank noted. Through the creation of Nepal&rsquo;s first dedicated Urban Sector Grant, the project will finance strategic infrastructure in the targeted cities, based on the priorities of the municipalities and their citizens.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The project will also support capacity building for the municipalities for improved urban management and with strong focus on citizen engagement, enabling targeted municipalities to better plan, manage and execute service delivery and urban management activities, the statement added. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">In this way, the project ensures that the capacity of municipalities is built in relation to functions that they perform (learning by doing), and that municipalities are held accountable by citizens and national government.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The project will finance small scale labor intensive public works, thus creating temporary jobs for at least 20,000 people across the country, including women and other vulnerable groups. The project also includes a contingency emergency response component to reallocate project funds to support emergency response and recovery.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;&ldquo;The project is a critical milestone in that it is the first World Bank project in Nepal to directly support federalism,&rdquo; stated&nbsp;Jonas Ingemann Parby, the project task team leader and senior urban specialist&nbsp;of the World Bank. &ldquo;Equally importantly, the project includes best practices in climate resilience, gender equality, social inclusion and citizen engagement, which the federal, provincial and local governments can take on.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The World Bank said that the project is fully aligned with government policies and strategies, including the National Urban Development Strategy, and is harmonized with the overall support provided by the government and development partners towards the implementation of federalism in Nepal.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12534',
			'article_category_id' => '1',
			'title' => 'Businesses faltering Despite the Onset of Festive Season ',
			'sub_title' => '',
			'summary' => 'September 29: With the big festivals like Dashain and Tihar just around the corner, the market by now should have been bustling with growing sales. ',
			'content' => '<p><em>This file photo shows down town Kathmandu bustling with buyers during Dashain last year.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 29: With the big festivals like Dashain and Tihar just around the corner, the market by now should have been bustling with growing sales. However, due to the effects of Covid-19, the market has not seen much activity this year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">In previous years, half of the annual trade took place during Dashain and Tihar. But this year, traders say that even during Dashain and Tihar, sales of textile business are below 20 percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Ram Chandra Parajuli, treasurer of the National Trade Association of New Road, informed that despite the increase in people&#39;s activities in the market after the lockdown and restriction business has not increased as expected due to the decline in purchasing power of the consumers.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Even though public transport is open, traders from outside the valley have not been able to enter the valley to buy goods due to the risk of the virus. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Parajuli informed that the traders who once bought goods worth Rs 100,000 are only able to trade worth of Rs 40,000 to Rs 50,000. The sale of footwear and clothes generally increases by almost 40 percent during Dashain and Tihar festivals but has now declined down due to Covid-19. Similarly, entrepreneurs also informed that the consumption of food grains used to rise during this time.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12533',
			'article_category_id' => '1',
			'title' => 'Private Sector Demands Implementation of Policy Reforms ',
			'sub_title' => '',
			'summary' => 'September 29: At a time when the government has initiated the process of amending laws to attract foreign investment, concerned stakeholders from the private sector have been demanding implementation of the policy reforms. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 29: At a time when the government has initiated the process of amending laws to attract foreign investment, concerned stakeholders from the private sector have been demanding implementation of the policy reforms. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector stakeholders claim that the government cannot achieve anything just by policy-level reforms unless it changes its mentality of suppressing the private sector. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry, Commerce and Supplies is collecting suggestions for amending the laws related to industrial promotion and investment. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector has started sending feedbacks to the government on investment-related laws that are obsolete and impractical.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Economic analyst Jagdish Prasad Agrawal says the initiatives of both the government and the parliament to form committees to study this issue is a clear indication that the government realizes problems existing in the current laws. Agrawal argues that although the government claims investment-friendly laws in the country, its initiative to amend the laws indicates otherwise.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is a positive step to start the process of amending the laws to remove the obstacles in investment. However, there are doubts if the government will address the issue by considering the composition of the present committees formed to address the issue,&rdquo; said Agrawal, who is also the chairman of Nimbus Group.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government considers investment as the main tool for uplifting the economy, says Agrawal, adding that the authorities decided to amend the laws after they failed to attract investment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The laws will be amended based on the recommendation of a report prepared by a sub-committee headed by a joint secretary of the Ministry of Industry, Commerce and Supplies. The sub-committee is expected to prepare its report within one and a half months.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12532',
			'article_category_id' => '1',
			'title' => 'Api Power Company finalizes Consortium Loan for Chameliya Hydropower Project',
			'sub_title' => '',
			'summary' => 'September 29: Api Power Company has concluded the financial closure for 40MW Chameliya Hydropower Project. ',
			'content' => '<p><em>This picture taken from the website of Api Power Company shows the site of Chameliya Hydropower Project.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Times">September 29: Api Power Company has concluded the financial closure for 40MW Chameliya Hydropower Project. A consortium of banks led by Himalayan Bank has agreed to provide a loan of Rs 5.18 billion to the company. The loan amount is said to be 70 percent of the total project cost, which is estimate to be Rs 7.4 billion. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Times">Other members of the consortium include Employees&rsquo; Provident Fund, Rastriya Banijya Bank, Nepal Bank, Nepal Bangladesh Bank and Century Commercial Bank.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The hydropower company had signed a deal for the consortium loan on Sunday (September 27). Out of the total cost of the project, the company intends to generate 30 percent financing by issuing rights shares. The company is expected to raise Rs 2.22 billion by issuing rights shares.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The 40MW Chameliya Hydropower Project is the third undertaking of Api Power Company. The project is expected to generate 264.1 million units of electricity every year. </span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12548',
			'article_category_id' => '1',
			'title' => 'Work Procedure of SSF Gathering Dust at Prime Minister’s Office',
			'sub_title' => '',
			'summary' => 'October 4: A proposal forwarded to the Office of the Prime Minister and Council of Ministers six months ago by the labour ministry for providing loan to the contributors of the Social Security Fund (SSF) is gathering dust office.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 4: A proposal forwarded to the Office of the Prime Minister and Council of Ministers six months ago by the labour ministry for providing loan to the contributors of the Social Security Fund (SSF) is gathering dust office. The proposal includes work procedure prepared by the SSF to provide loan to the contributors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SSF had proposed providing a maximum of Rs 7.5 million loan to those who have contributed to the fund for three consecutive years. As per the proposal, the loan amount will be calculated on the basis of basic salary of the contributor for 15 years and cannot exceed the maximum limit. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The prime minister&rsquo;s office has a committee comprising of high-level officials from the finance ministry that decides on the proposals to be sent to the Council of Ministers (cabinet).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The officials have refused to forward the proposal to the cabinet arguing that the SSF is not an institution to provide loan. On the other hand, the Employees Provident Fund (EPF) and the Citizens Investment Trust (CIT) have been providing loans to the employees since their inception. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Deputy Executive Director of SSF Bivek Panthi says that the delay in approval of the work procedure has prevented them from investing Rs 2.6 billion that they have collected so far. He argues that it is unfair to allow EPF to provide loan and bar them from doing so.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The employees are the same. The decision to halt the approval of the proposal reflects discrimination,&rdquo; says Panthi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The work procedure proposed investing the fund collected by SSF in government bonds, fixed deposit accounts of BFIs or in long-term deposit plans. It also proposes investing the amount on BFIs or other companies and in mutual funds.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, joint secretary of finance ministry Jhakka Acharya says that the bylaws of the SSF does not allow it to provide loans.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In recent days, there is a growing attraction toward SSF. On Friday, around 176,000 employees associated with 12,780 organisations were listed with the&nbsp; SSF.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the lockdown period, companies related to the tourism industry, aviation sector, industries, NGOs, finance companies, media houses among others were registered with the SSF.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12547',
			'article_category_id' => '1',
			'title' => 'Handicraft Industry Struggling to Normalize',
			'sub_title' => '',
			'summary' => 'October 1: The handicraft industry of Nepal is producing products at 20 percent of its full capacity.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 1: The handicraft industry of Nepal is producing products at 20 percent of its full capacity. The production of Nepal&rsquo;s handicraft&nbsp; industry had declined by 80 percent before the lockdown on March 24 after the number of tourists stopped visiting the country due to fear of coronavirus. Even the demand for handicraft has gone down significantly, due to which the manufacturers have reduced their production. Stakeholders say there isn&rsquo;t any new demand after the start of the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Handicraft entrepreneurs say they are operating their industries only to fulfill the demand for felt, pashmina, woodcarvings and silverwares that were ordered before the lockdown.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been learnt that around 60 percent workers in this field have been rendered jobless after the handicraft industry started producing at 20 percent capacity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">President of Federation of Nepal Handicraft Association Surendra Bhai Shakya says they are unable to increase production due to lack of demand from overseas.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;What can we do by just increasing production? There isn&rsquo;t any sale. How long can we stock the products?&rdquo; questioned Shakya. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After firing the workers, Shakya says they are worried about getting skilled workers later when the situation gets normal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the data of FHAN, the domestic market of Nepal consumes handicraft materials worth Rs 6 billion every year. The USA, China and European countries are the major markets for Nepalese handicraft products. Nepal exports handicraft products worth Rs 11 to 15 billion to these countries annually. Even those who purchase handicraft products in Nepal are foreigners.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The handicraft entrepreneurs have been forced to export their products at three times higher price due to unavailability of flights during global lockdown. The problem has not resolved although regular flights have&nbsp; resumed. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Nepal Export Council Hari Bahadur Karki says only limited airline companies are operating flights to and from Nepal and the airliners charge them fare as high as that of chartered flights.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although the government has lifted restrictions, places like Basantapur, Thamel, Patan and other areas where these products are sold do not have any customers at the moment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders say their business is in peril because the handicraft industry is directly linked with the tourism industry.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12546',
			'article_category_id' => '1',
			'title' => 'Nepal Signs Labor agreement with Israel to Send Nepali Workers on G2G Basis',
			'sub_title' => '',
			'summary' => 'October 1: The Government of Nepal has signed a bilateral labor agreement with Israel for sending Nepali workers to Israel. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">October 1: The Government of Nepal has signed a bilateral labor agreement with Israel for sending Nepali workers to Israel. Nepal&rsquo;s Ambassador to Israel Dr Anjan Shakya and Israel&rsquo;s Foreign Minister Gabi Askhenaji signed the agreement on Wednesday, September 30.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Earlier, the government had signed a labor agreement in 2015 but it was not implemented properly. Nepal&#39;s private manpower companies have been supplying Nepali workers to Israel for employment under previous agreement. However, now according to the new agreement, the government itself will be sending workers to Israel for work on G2G basis.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government is currently sending workers to South Korea through the G2G agreement. The same model has been agreed with Israel. According to the labor agreement with Israel, Nepali citizens who want to travel to Israel &nbsp;&nbsp;for employment will only be required to pay the visa fee, medical examination charge, the amount to be deposited in the welfare fund, and the orientation fee.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the agreement is considered to be opposite to the government&#39;s commitment and policy. The government had decided to adopt the policy of &#39;free visa, free ticket&#39; in June 2015. The government has been taking action against the manpower companies that do not follow such policy.</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Nepal Reeling under the Weight of Loan Assistance from India',
			'sub_title' => '',
			'summary' => 'October 1: There is a general understanding among the public that India has been providing support for the development of Nepal in proportion to the close social and commercial proximity it has with Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">October 1: There is a general understanding among the public that India has been providing support for the development of Nepal in proportion to the close social and commercial proximity it has with Nepal. However, figures point out otherwise.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Data reveal that the amount of loan India has been providing to Nepal in the recent years overshadow the assistance it has been providing. It is clearly evident that India has increased the weightage of loan on Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Ministry of Finance, India does not fall among the top five countries that provide financial aid to Nepal. However, it ranks fourth among the list of Nepal&rsquo;s creditors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India also does not fall among the top five countries that provide technical support to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India, which has been taking advantage from Nepal by making it one of the major destinations to export its products, has adopted a strategy of debt-trap diplomacy in the name of development support, according to experts. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the fiscal year 2018/19, India provided financial support worth USD 58.94 million for development purpose. Out of that amount, USD 45.95 was loan assistance. Only USD 10.5 million provided by India during the review period was grant, according to data of finance ministry. During FY 2018/19, India had provided technical assistance worth USD 2.38 million to Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">In the last one year, the amount of loan Nepal received from India was 78 percent of the total assistance. India&rsquo;s grant assistance and technical support were 18 percent and 4 percent respectively, reveals data maintained by the finance ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">India has been supporting four projects in Nepal with its loan assistance. Under the reconstruction works, India has set a target to spend USD 15 million for rebuilding infrastructures damaged by the 2015 earthquakes in Gorkha and Nuwakot districts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;"><img alt="" src="/app/webroot/userfiles/images/My%20Effect.jpg" style="height:600px; width:649px" /></span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Economic Census of Nepal states that foreign grants to Nepal has declined because of the improvement in per capital income of Nepal and the purchasing power of its citizens. However, economists do not agree with this statistics prepared by the government. It is a matter of concern that the number of countries providing loan assistance to Nepal is increasing on top of the loan amount, says economist Bishwambher Pyakurel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;Loan is a kind of white elephant. Those who provide loan give it on certain conditions. It becomes a threat to the economy is the loan is not utilized properly,&rdquo; says Prof Dr Pyakurel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Another economist Dr Posh Raj Pandey says bilateral loan is more risky than multilateral loan. He is of the view that the loan taken by Nepal from India and China could cause an impact on its diplomatic relations with the neighbours.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Minister Bhatta Warns of Stern Action Against Blackmarketing',
			'sub_title' => '',
			'summary' => 'October 1: Minister for Industry, Commerce and Supplies Lekhraj Bhatta has warned of stern action against anyone found cheating consumers under any pretext.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">October 1: Minister for Industry, Commerce and Supplies Lekhraj Bhatta has warned of stern action against anyone found cheating consumers under any pretext.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Speaking at a press conference organised to inform about the achievements made since he took charge of the ministry, Bhatta said he has been working tirelessly for the welfare of consumers and labourers. He added that the ministry would strict action against blackmarketing.</span></span></span></span></p>

<p><img alt="" src="/app/webroot/userfiles/images/shankerlogo%202.jpg" style="height:240px; width:286px" /></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Bhatta informed that the government has taken action against Jagadamba Steels under Shankar Group for producing sub-standard materials and is making attempts to unfold other such activities of the company. He also urged one and all not to doubt the government&rsquo;s commitment to take action against those who cheat the consumers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are making efforts to remove the sub-standard product from the market and destroy them,&rdquo; said Bhatta.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Minister Bhatta further said that they are in the process of destroying 300 tons of steel produced by Jagadamba Steels for not meeting the criteria set by the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The minister claimed that he himself goes out for market monitoring to ensure that the public does not get cheated. </span></span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '12291',
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			'article_date' => '2020-10-01 12:59:49',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12543',
			'article_category_id' => '1',
			'title' => '43 Companies Submit Proposals for Construction of Tunnels and Bridges along KTM-Terai Fast Track',
			'sub_title' => '',
			'summary' => 'October 1: Altogether 43 companies have submitted proposals for the construction of tunnels and bridges under the Kathmandu-Tarai Fast Track Project. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">October 1: Altogether 43 companies have submitted proposals for the construction of tunnels and bridges under the Kathmandu-Tarai Fast Track Project. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Nepalese Army, which has been handed the responsibility of overseeing the fast track project by the government, announced on Wednesday (September 30) that the 43 companies have met the criteria required for the construction of the tunnel and bridges in 11 clusters. Those infrastructures will be constructed in two packages, informed the army.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Nepalese Army had earlier issued tender for the construction of the tunnels and bridges, which falls under the complicated works under the project.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Nepalese Army, a total of 21 companies have submitted proposals for the construction of infrastructures under Package 1 of the project that falls between Chokredanda to Dhedrekhola. Likewise, 22 companies have submitted proposals for the Package 2, which falls between Dhedrekhola to Lanedanda.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Those companies have fulfilled the requirement of having prior experience in planning, designing, engineering, procurement and construction of infrastructures like tunnels and bridges, informed the army.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Army Spokesperson Brigadier General Santosh Poudel informed that an evaluation committee will go through the proposals and shortlist qualified companies for the project within two weeks.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The fast track will have three tunnels and 16 bridges. The Nepalese Army has completed the works of drilling along the 72.5 kilometer fast track. Out of the total length of the fast track,&nbsp; tunnels will be of 6.41 kilometers in length.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12542',
			'article_category_id' => '1',
			'title' => 'Remittance Inflow Remains Above Average Despite Coronavirus Pandemic',
			'sub_title' => '',
			'summary' => 'September 30: Inflow of remittance to Nepal has been above average in the last few months despite fears that the coronavirus pandemic would lead to a decline in remittance to Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: Inflow of remittance to Nepal has been above average in the last few months despite fears that the coronavirus pandemic would lead to a decline in remittance to Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Inflow of remittance has remained above average in the last four months. During mid-August to mid-September, remittance inflow to Nepal was around Rs 85 billion, according to Nepal Remitters&rsquo; Association, which is above average. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the latest date, the average monthly inflow of remittance to Nepal is Rs 73 billion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The inflow of remittance in mid-July to mid-August was 92.71 billion. It means that the remittance inflow in the first two months of the current fiscal year was Rs 177 billion, which is 15.59 percent more than the figures compared to the corresponding period of last fiscal year. During the first two months of the last fiscal year, the inflow of remittance to Nepal was Rs 153 billion.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2020-09-30',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12539',
			'article_category_id' => '1',
			'title' => 'Tatopani Customs to Open from October 5',
			'sub_title' => '',
			'summary' => 'September 30: Tatopani, one of the major customs points along Nepal-China border, will come into operation from October 5. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: Tatopani, one of the major customs points along Nepal-China border, will come into operation from October 5. The border point has remained closed since the last seven months.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials of the two countries on Tuesday (September 29) decided to reopen the border point from next week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The border point was opened briefly some months ago but had to be closed following landslides in Jambu bazar of Sindhupalchowk district on July 10. It was again opened later but had to be closed due to rising threat of coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials of the two countries have agreed to unload goods from China at the Liping bridge and the workers from Nepal would be allowed to bring the goods into Nepal from there. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The workers from Nepal have been divided into two groups and they include drivers, helpers and manual labourers. The PCR test of all 25 members of the first group has been taken, informed Nepali authorities. The Chinese side has told Nepal to keep the second group of 28 workers ready, says chief of the Tatopani Customs Point Lal Bahadur Khatri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Khatri, all the drivers and labourers deployed in the border area will undergo PCR tests in every five days. The tests will be conducted by the Chinese side.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal-bound goods that have been stranded across the border will be released from October 5, informed Khatri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This is expected to provide some relief to the importers for the upcoming Dashain festival.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12538',
			'article_category_id' => '1',
			'title' => 'Industries Increase Production Post Lockdown ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><em>An industry within the premises of Special Economic Zone in this file photo.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 30: The industries that had lowered their production significantly due to the lockdown and restriction for the past six months have gradually started to increase their production. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Industries and factories produced only 15 to 25 percent of their full capacity during the lockdown period. However, they have increased their production by up to 60 percent of their capacity after the one-month restriction was lifted on September 20.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government finally lifted the lockdown, which was in force since March 24, and the subsequent restriction on September 20. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Rajesh Agrawal, managing director of RMC Group, informed that the industrial and business sector, which have been reeling under the effect of lockdown for about six, can now finally pick up pace within a month and a half.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Agarwal, who is also the vice-president of the Confederation of Nepalese Industries (CNI), informed that the industrial sector can now pick up pace as all kinds of industrialists have agreed to engage in production by following the security protocols set by the government.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">RMC Group, which has been producing construction materials including Palpa Cement, is currently producing only 25 to 30 percent of the total capacity. &quot;The production of the materials will be increased after Dashain,&quot; Agrawal informed.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12537',
			'article_category_id' => '1',
			'title' => 'Government to Issue on-arrival Visa to Tourists from October 17',
			'sub_title' => '',
			'summary' => 'September 30: The government has decided to issue on-arrival visa for tourists from October 17. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 30: The government has decided to issue on-arrival visa for tourists from October 17. The on-arrival visa facility was suspended since the last six months due to coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Earlier, the government had decided to open trekking and expeditions for foreigners from October 17 but the tourism entrepreneurs were concerned about the delay in announcing on-arrival visas. They had time and again demanded the government to issue on-arrival visas because tourists were in dilemma whether or not to visit Nepal due to the delay in such announcement. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Finally, the government decided to allow foreign visitors who fulfill all the health protocols set by the government. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the ministry is coordinating with Nepal Rastra Bank and home ministry as well as the immigration department to make the on-arrival visa payment system seamless and hassle free.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Tourism Department Rudra Singh Tamang informed that the government has decided to issue on-arrival visas for tourists travelling in groups and that the visitors need to mandatorily stay in quarantine for a week upon their arrival in Nepal. The tourists also need to show their PCR test report taken within 72 hours in order to enter Nepal. The immigration department will cross-check the report while issuing the on-arrival visa. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The expedition teams visiting Nepal will have to purchase insurance policy of at least Rs 100,000 for coronavirus in order to get permission for climbing.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Tourism entrepreneurs have expressed reservation regarding this decision of the government. They claim than although the decision to open Nepal for tourists is a positive step, other mandatory provisions like one-week quarantine and PCR tests would only dissuade the visitors.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">They say that the government took such measures against the recommendation made by the tourism stakeholders. They have also demanded PCR test at the Tribhuvan International Airport itself. The tourism entrepreneurs argue that the tourists have to travel through different transit points so the PCR test taken 72 hours ago might not be relevant.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12536',
			'article_category_id' => '1',
			'title' => 'Central Bank Raising Internal Debt worth Rs 225 billion',
			'sub_title' => '',
			'summary' => 'September 29: Nepal Rastra Bank has published its annual schedule to raise billion of rupees as internal debt due to excessive liquidity in banks and financial institutions. ',
			'content' => '<h1><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">September 29: Nepal Rastra Bank has published its annual schedule to raise billion of rupees as internal debt due to excessive liquidity in banks and financial institutions. The central bank will be raising Rs 225 billion internal debt for the government in the current fiscal year.</span></span></span></h1>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Internal debt is raised to support the government&rsquo;s annual budget. In order to manage this, Nepal Rastra Bank is going to raise the amount every 4 months through the issuance of treasury bills, development bonds, citizen savings bonds and foreign employment saving bonds till the end of next year. The highest amount of the internal debt will be raised during the third quarter of FY 2077/78.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank will be raising Rs 57 billion in the first quarter, Rs 58 billion in the second quarter and Rs 112 billion in the third quarter. The central bank used to publish schedules for raising the internal debt in a quarterly basis. However, the loan will be raised every four months in the current fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank&rsquo;s National Debt Management Department has set a target to raise Rs 70 billion in the first four months by issuing treasury bills with maturity ranging from 28 days to 364 days. This is 31.1 percent of the total target. Similarly, there is a target of raising Rs 150 billion through the issuance of development bonds with a maturity of 5 to 10 years. This is 66.7 percent of the total internal debt. Similarly, Rs 4 billion will be raised through 5-year citizen bonds. This is 1.8 percent of the total target.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Foreign employment savings bonds will be issued with a target of raising Rs 1 billion through it. It is 0.4 percent of the total internal debt target. Citizen savings bonds and foreign employment savings bonds have not been included in the first four months.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The government has announced that it aims to raise an internal debt of Rs 225 billion for the budget of FY 2077/78. The target was Rs 150 billion in the last fiscal year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Banks have not been able to give out loans as they had estimated due to the coronavirus pandemic. As a result, there is a liquidity of more than Rs 200 billion in the market. The central bank has also recently issued deposit collection tool and Treasury bills to manage the liquidity.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">The central bank issued a tender notice for selling 9-year development bonds worth Rs 20 billion through September 27. Similarly, it announced tender bids for selling Treasury bills worth Rs 3.10 billion on September 28. Bankers are hoping that these tools will help in managing the excess liquidity to some extent.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to the provisions of Nepal Rastra Bank Act, 2058 and Nation Debt Act, 2059, the central bank raises the internal debt on behalf of the government.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Every year, a letter is written to the central bank by the Ministry of Finance requesting the bank to raise the amount of internal debt as specified in the annual budget. NRB Spokesperson Dr Gunakar Bhatt explains that after receiving the letter, the Open Market Operations Committee of the National Debt Management Department prepares an annual internal debt collection schedule, specifying the amount to be collected by the respective tools.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">According to him, the internal debt will be raised as per the date fixed for bidding or issuance in the schedule. However, the committee said that the Open Market Operations Committee has the right to make necessary changes to it. The schedule has been made public after the Ministry of Finance approved upon the recommendation of the committee.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:14.0pt">Under the management of the internal debt, the money accumulated through the issuance and auctions of government bonds are deposited in the internal debt account of the Government of Nepal. The principal and interest amount is paid to the bondholders on the date of maturity of the bond. Activities such as keeping records of issued bonds, preparing and distributing bond certificates, transfer of bonds as required, etc. are also done. The Government of Nepal is fully responsible for all government bonds along with the management of the secondary market for these bonds.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12535',
			'article_category_id' => '1',
			'title' => 'WB Approves USD 150 Million Project to support Federalism in Nepal’s Secondary Cities',
			'sub_title' => '',
			'summary' => 'September 28: The World Bank on Monday (September 28) approved a $150 million project to help Nepal strengthen service delivery and institutional capacities in strategic secondary cities, and to support the post-COVID-19 economic recovery.  ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 28:</span></span><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The World Bank on Monday (September 28) approved a $150 million project to help Nepal strengthen service delivery and institutional capacities in strategic secondary cities, and to support the post-COVID-19 economic recovery.&nbsp; </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a statement issued by the World Bank, the project is unique in that it puts the municipalities in front and center in project implementation, in full alignment with federalism principles enshrined in the 2015 Constitution of Nepal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&ldquo;In the context of rapid urbanization, federalism and COVID-19, providing support to strengthen institutions for effective local service delivery in Nepal&rsquo;s secondary cities, and extending targeted support to vulnerable groups affected by the impact of the pandemic is critical,&rdquo;&nbsp;the statement quoted Faris Hadad-Zervos, World Bank country director for the Maldives, Nepal and Sri Lanka as saying. &ldquo;Our support will help build capacity of key municipalities, enhance local accountability, and accelerate COVID-19 recovery by short-term employment for vulnerable groups as well as service delivery,&rdquo; he added.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;According to the World Bank, the Nepal Urban Governance and Infrastructure Project will support municipalities located in two strategic urban clusters: Eastern-Terai region (Provinces 1 and 2) and Western region (Gandaki Province and Province 5). </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The selected municipalities in these areas are key to Nepal&rsquo;s economic development and are centers for commercial and administrative activities, the World Bank noted. Through the creation of Nepal&rsquo;s first dedicated Urban Sector Grant, the project will finance strategic infrastructure in the targeted cities, based on the priorities of the municipalities and their citizens.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The project will also support capacity building for the municipalities for improved urban management and with strong focus on citizen engagement, enabling targeted municipalities to better plan, manage and execute service delivery and urban management activities, the statement added. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">In this way, the project ensures that the capacity of municipalities is built in relation to functions that they perform (learning by doing), and that municipalities are held accountable by citizens and national government.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The project will finance small scale labor intensive public works, thus creating temporary jobs for at least 20,000 people across the country, including women and other vulnerable groups. The project also includes a contingency emergency response component to reallocate project funds to support emergency response and recovery.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;&ldquo;The project is a critical milestone in that it is the first World Bank project in Nepal to directly support federalism,&rdquo; stated&nbsp;Jonas Ingemann Parby, the project task team leader and senior urban specialist&nbsp;of the World Bank. &ldquo;Equally importantly, the project includes best practices in climate resilience, gender equality, social inclusion and citizen engagement, which the federal, provincial and local governments can take on.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">&nbsp;The World Bank said that the project is fully aligned with government policies and strategies, including the National Urban Development Strategy, and is harmonized with the overall support provided by the government and development partners towards the implementation of federalism in Nepal.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12534',
			'article_category_id' => '1',
			'title' => 'Businesses faltering Despite the Onset of Festive Season ',
			'sub_title' => '',
			'summary' => 'September 29: With the big festivals like Dashain and Tihar just around the corner, the market by now should have been bustling with growing sales. ',
			'content' => '<p><em>This file photo shows down town Kathmandu bustling with buyers during Dashain last year.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 29: With the big festivals like Dashain and Tihar just around the corner, the market by now should have been bustling with growing sales. However, due to the effects of Covid-19, the market has not seen much activity this year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">In previous years, half of the annual trade took place during Dashain and Tihar. But this year, traders say that even during Dashain and Tihar, sales of textile business are below 20 percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Ram Chandra Parajuli, treasurer of the National Trade Association of New Road, informed that despite the increase in people&#39;s activities in the market after the lockdown and restriction business has not increased as expected due to the decline in purchasing power of the consumers.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Even though public transport is open, traders from outside the valley have not been able to enter the valley to buy goods due to the risk of the virus. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">Parajuli informed that the traders who once bought goods worth Rs 100,000 are only able to trade worth of Rs 40,000 to Rs 50,000. The sale of footwear and clothes generally increases by almost 40 percent during Dashain and Tihar festivals but has now declined down due to Covid-19. Similarly, entrepreneurs also informed that the consumption of food grains used to rise during this time.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12533',
			'article_category_id' => '1',
			'title' => 'Private Sector Demands Implementation of Policy Reforms ',
			'sub_title' => '',
			'summary' => 'September 29: At a time when the government has initiated the process of amending laws to attract foreign investment, concerned stakeholders from the private sector have been demanding implementation of the policy reforms. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">September 29: At a time when the government has initiated the process of amending laws to attract foreign investment, concerned stakeholders from the private sector have been demanding implementation of the policy reforms. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector stakeholders claim that the government cannot achieve anything just by policy-level reforms unless it changes its mentality of suppressing the private sector. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry, Commerce and Supplies is collecting suggestions for amending the laws related to industrial promotion and investment. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector has started sending feedbacks to the government on investment-related laws that are obsolete and impractical.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Economic analyst Jagdish Prasad Agrawal says the initiatives of both the government and the parliament to form committees to study this issue is a clear indication that the government realizes problems existing in the current laws. Agrawal argues that although the government claims investment-friendly laws in the country, its initiative to amend the laws indicates otherwise.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is a positive step to start the process of amending the laws to remove the obstacles in investment. However, there are doubts if the government will address the issue by considering the composition of the present committees formed to address the issue,&rdquo; said Agrawal, who is also the chairman of Nimbus Group.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government considers investment as the main tool for uplifting the economy, says Agrawal, adding that the authorities decided to amend the laws after they failed to attract investment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The laws will be amended based on the recommendation of a report prepared by a sub-committee headed by a joint secretary of the Ministry of Industry, Commerce and Supplies. The sub-committee is expected to prepare its report within one and a half months.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12532',
			'article_category_id' => '1',
			'title' => 'Api Power Company finalizes Consortium Loan for Chameliya Hydropower Project',
			'sub_title' => '',
			'summary' => 'September 29: Api Power Company has concluded the financial closure for 40MW Chameliya Hydropower Project. ',
			'content' => '<p><em>This picture taken from the website of Api Power Company shows the site of Chameliya Hydropower Project.</em></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Times">September 29: Api Power Company has concluded the financial closure for 40MW Chameliya Hydropower Project. A consortium of banks led by Himalayan Bank has agreed to provide a loan of Rs 5.18 billion to the company. The loan amount is said to be 70 percent of the total project cost, which is estimate to be Rs 7.4 billion. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Times">Other members of the consortium include Employees&rsquo; Provident Fund, Rastriya Banijya Bank, Nepal Bank, Nepal Bangladesh Bank and Century Commercial Bank.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The hydropower company had signed a deal for the consortium loan on Sunday (September 27). Out of the total cost of the project, the company intends to generate 30 percent financing by issuing rights shares. The company is expected to raise Rs 2.22 billion by issuing rights shares.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The 40MW Chameliya Hydropower Project is the third undertaking of Api Power Company. The project is expected to generate 264.1 million units of electricity every year. </span></span></p>

<p>&nbsp;</p>
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FOREX

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

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

Bullion

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

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

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