September 7: Industries in the Bara-Parsa Corridor have started reducing the number of workers as their production has shrunk due to the lockdown and restriction.…
September 7: Industries in the Bara-Parsa Corridor have started reducing the number of workers as their production has shrunk due to the lockdown and restriction.…
September 7: The government has terminated the contracts of two companies – Sailung Enterprises and Honiko Multiple Private Limited – for failing to supply chemical fertilizers on…
September 7: The government is preparing to resume air service in mountainous and hill districts from September 17.…
September 6: The government has presented a proposal to the cabinet for amending the work procedure to provide 2 percent concessional loan to…
September 6: The Insurance Board has been dragged into controversy for not recognizing the report of PCR tests carried out by private labs at a time when Covid-19 cases are…
September 6: The government decided on July 9 to allow public vehicles to operate in short routes within their respective districts after easing the nearly four-months lockdown restriction on…
September 6: Due to the landlocked nature of Nepal, it is estimated that the transshipment cost of Nepal is up to 20 percent higher than other countries.…
September 6: The Department of Tourism has granted permission for an expedition team to scale Mount Baruntse at a time when tourism activities in the country have come to a complete halt due to Covid-19…
September 6: The Government of Nepal and the World Bank recently signed a financing agreement for an additional grant of US$10.85 million to the School Sector Development Program…
September 4: Banks and financial institutions (BFIs) have been paying tens of millions of rupees every year for the insurance of their loans and deposits.…
September 4: With the festive season just around the corner, Nepal-bound goods have been stranded in the northern border points of Tatopani and…
September 4: Despite the coronavirus pandemic, life insurance companies have collected above average premium in July/August.…
September 4: The tender evaluation process of Kakarbhitta-Inaruwa section of the contentious East-West Railway has been halted due to technical problems in downloading the documents registered through electronic bidding…
September 4: The ruling Nepal Communist Party (NCP) has decided to recommend the party’s vice chairman Bamdev Gautam for the vacant position of National Assembly member to be nominated by the…
September 3: The government has given high priority to essential goods and services during the prohibitory period as well as lockdown period.…
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 7: Industries in the Bara-Parsa Corridor have started reducing the number of workers as their production has shrunk due to the lockdown and restriction. </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">Stating that their production has been affected due to the four-month-long lockdown and the ongoing nationwide prohibitory order, the entrepreneurs have been firing their factory workers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Labor and Employment Office, Parsa, more than half a dozen industries in the industrial corridor have sent information regarding labor cuts. The labor office also informed that an industry in Birgunj laid off all of its workers on Sunday (September 6) alone.</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">Sundar Shrestha, chief of the Labor and Employment Office, informed that most of the industries have laid off their workers.</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">“Most of the industries in the corridor have been found to have laid off their workers unofficially, and only a limited number of industries have informed about it to the labor office,” Shrestha said.</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 say that they have been removing workers on mutual understanding. However, the industries have not informed about the decision to the labor office.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Labor Act, industries are subjected to inform about the reduction of work force to the Labor Office. Workers kept in reserve should be paid half salary according to the act.</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 the case of labor deduction, the provision of the labor act mandates industries to pay annual salary as compensation to the worker. Likewise, the worker should be informed of their termination one month in advance.</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">It is estimated that more than around 100,000 workers are working in 1,000 industries in the industrial corridor. According to the industrialists, 35 to 40 percent of them have lost their jobs due to the inconvenience caused by the COVID-19.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12180', 'image' => '20200907020811_1599429995.Clipboard02.jpg', 'article_date' => '2020-09-07 14:07:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12432', 'article_category_id' => '1', 'title' => 'Government Terminates Contracts with 2 Companies for Failing to Supply Fertilizers', 'sub_title' => '', 'summary' => 'September 7: The government has terminated the contracts of two companies – Sailung Enterprises and Honiko Multiple Private Limited – for failing to supply chemical fertilizers on time.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 7: The government has terminated the contracts of two companies – Sailung Enterprises and Honiko Multiple Private Limited – for failing to supply chemical fertilizers on time. Besides scrapping the contracts, the government has also confiscated the deposits of the two companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned Agriculture Inputs Company Limited (Krishi Samagri Company Limited) had signed separate contracts with the two companies for the supply of 25,000 metric tons of urea each.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the agreement, both the companies should have supplied the fertilizers within September 5. But the two private companies have not been able to assure the government-owned company about supplying the fertilizers anytime soon, leading to the termination of the contracts.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">More than Rs 90 million deposit of the two companies have also been confiscated 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:"Arial Unicode MS"">“We had to take action against the two companies because they were careless despite having adequate time. Therefore we had to terminate the contracts. Their deposits have also been freezed,” said Minister for Agriculture and Livestock Development Ghanashyam Bhusal during a press conference organised at the ministry on Sunday (September 6). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned company had signed the agreement with Sailung Enterprises on April 24 and with Honiko on April 27. As per the initial agreement, the two companies should have imported the fertilizers within July 23. The government later extended the deadline by 25 days upon the request of the two companies. Minister Bhusal said that the contracts were terminated after the companies failed to supply the fertilizers even after the extended deadline.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sailung Enterprises is owned by Sharada Prasad Adhikari, who is the landlord of Nepal Communist Party Co-chairman Pushpa Kalal Dahal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Agriculture Inputs Company Limited, the two companies could not furnish any details about the shipment or the vessels used to import the fertilizers despite repeated follow ups.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12179', 'image' => '20200907122502_597613093.Clipboard02.jpg', 'article_date' => '2020-09-07 12:24:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12431', 'article_category_id' => '1', 'title' => 'Internal Flights to Mountain and Hill Districts to Resume from September 17 ', 'sub_title' => '', 'summary' => 'September 7: The government is preparing to resume air service in mountainous and hill districts from September 17. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 7: The government is preparing to resume air service in mountainous and hill districts from September 17. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the government is preparing to resume domestic flights to those districts that have reported few cases 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:"Arial Unicode MS"">Earlier, the government had announced to resume air service from September 1 but that decision was put on hold after the capital and several other districts reported a rapid increase in Covid-19 cases.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking at an interaction with stakeholders regarding the reopening of tourism industry by following safety protocols, Minister Bhattarai reaffirmed that air service will resume from September 17. Meanwhile, the government is preparing to increase the number of international flights after analyzing the current flights for a few days. The government had lifted restriction on international flights from September 1.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai further said that the government as formed a team comprising officials from the Department of Tourism and the Nepal Tourism Board to study the international practice of safe handling of 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:"Arial Unicode MS"">“Some vital decisions will be taken after completion of the study,” said Minister Bhattarai.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai further said that he is in favour of gradually reopening the tourism industry by maintaining safety standards. The ministry is preparing to submit a proposal to the cabinet in this regard, informed the minister.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12178', 'image' => '20200907105804_1599443855.Clipboard12.jpg', 'article_date' => '2020-09-07 10:57:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12430', 'article_category_id' => '1', 'title' => 'Work Procedure for Concessional Loans to Startups Presented to Cabinet', 'sub_title' => '', 'summary' => 'September 6: The government has presented a proposal to the cabinet for amending the work procedure to provide 2 percent concessional loan to start-ups.', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">September 6: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">The government has presented a proposal to the cabinet for amending the work procedure to provide 2 percent concessional loan to start-ups.</span></span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The National Planning Commission has submitted a proposal to the Council of Ministers after changing provision of grants into loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">According to the commission, a decision will be taken soon since the proposal has been taken to the Council of Ministers through the Ministry of Finance. A total of 699 proposals for seed money will be finalized after decision. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">People, who were interested in the latest works of information technology, agriculture, energy, health, tourism, and industry had applied for the loan in mid-May.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The call for proposals was open from May 11 to June 9. In case of loans for startup businesses, the amended work procedure allows a maximum loan of 50 percent of the required capital, which can range from Rs 1 million to Rs 10 million. An individual or a firm were not allowed to submit a proposal for multiple loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">A person or a firm can get a maximum loan of Rs 5 million at 2 percent interest rate if they wish to undertake a venture of Rs 10 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The proposal needs to have clear information about the business plan along with the status of the self-investment of the entrepreneur, the amount they have demanded from the Government of Nepal and any of their other investment partnerships. The commission hasn’t accepted any further applications because of the lockdown.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The commission said that 15 days will be given to submit the proposals after the Council of Ministers pass the work procedure. The government had initially envisioned a ‘Challenge Fund’ to provide grant up to 50 percent of the capital requirement in order to encourage young entrepreneurs to start new businesses. Although the government had announced such provision during the budget of last fiscal year, the program could not be implemented. The government has given continuity to the program by changing the modality into concessional loan in this year’s budget instead of grant.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The revised work procedure has been made by including the advices from the ministries of finance, industry and education. Dr Ram Kumar Phuyal, a member of the National Planning Commission, says that a high-level committee will recommend the loans to those who meet the criteria as stated in the amended work procedure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The committee will have the right to select and recommend the entrepreneurs, whom they think will develop high-quality inventions and systems is less time, cost and resources. According to Phuyal, the committee will also be responsible to check if the loans are being used in the right way. The committee will also be responsible for the monitoring of entrepreneurs, businessmen or institutions that have received the loan. A steering committee has been formed under the coordination of a member appointed by the National Planning Commission for the provision of loans. The committee will also have a joint secretary each from the ministries of finance; industry, commerce and supplies; and education as its members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">A representative of banks has also been included in the committee for the selection of recipients of the loan. An official from the commission said that a representative of banks was not selected previously as the work procedure was earlier concerned with grants. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12177', 'image' => '20200906035436_MOF.jpg', 'article_date' => '2020-09-06 15:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12429', 'article_category_id' => '1', 'title' => 'Insurance Board Fails to Recognize PCR Tests Conducted by Private Labs', 'sub_title' => '', 'summary' => 'September 6: The Insurance Board has been dragged into controversy for not recognizing the report of PCR tests carried out by private labs at a time when Covid-19 cases are rising.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 6: The Insurance Board has been dragged into controversy for not recognizing the report of PCR tests carried out by private labs at a time when Covid-19 cases are rising.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">There is a provision for compensating a person who tests positive for coronavirus if the infected person makes insurance claims. However, the board has courted controversy after it said that it recognizes only the tests conducted by government labs. Following the decision of the board, insurance companies have stopped compensating the claimants. The individuals who have purchased insurance policy have not been able to benefit from the policy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance policy announced on April 19 states that the individual can claim for compensation by presenting report of PCR test conducted at government labs. At that time, the government had not given permission to private labs to conduct PCR tests. But currently 13 private labs are providing the service after the government gave them permission to conduct the tests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Insurance Board should have amended the policy announced on April 19. However, the insurance companies have not compensated the beneficiaries due to the failure of the board to recognize the tests carried out by private labs.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12176', 'image' => '20200906031626_1599342239.Clipboard09.jpg', 'article_date' => '2020-09-06 15:15:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12428', 'article_category_id' => '1', 'title' => '‘1 Million People Associated with Public Transportation Rendered Jobless’', 'sub_title' => '', 'summary' => 'September 6: The government decided on July 9 to allow public vehicles to operate in short routes within their respective districts after easing the nearly four-months lockdown restriction on transportation.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 6: The government decided on July 9 to allow public vehicles to operate in short routes within their respective districts after easing the nearly four-months lockdown restriction on transportation. The transport entrepreneurs started their business after repairing their vehicles. However, in less than one month, the government imposed prohibitory orders in various districts sending the vehicles back to the garages.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although other countries have gradually resumed public transportation by following safety protocols, Nepal has not prepared any work plan to this end.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Most of the countries have eased the lockdown restrictions but Nepal has only changed the definition of lockdown just like transferring ‘an old wine into a new bottle’. In fact, the prohibitory order seems to be more strict than the lockdown imposed in the initial stage to curb the spread 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:"Arial Unicode MS"">According to the Federation of Nepalese National Transport Entrepreneurs (FNNTE), there are around 300,000 public vehicles and more than 60,000 cargo vehicles registered in Nepal. The federation says around 1 million people have got direct employment from this sector. Around 600,000 drivers and helpers who make a living by earning daily wages are at the receiving end since the last five months due to the closure of this sector, says Yogendra Nath Karmacharya, chairman of FNNTE. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He claimed that more than 1 million persons in this sector have lost their jobs while the government has shown little interest to resume public transportation under the influence of middlemen.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Other countries have gradually reopened public transportation but our government isn’t clear resuming the service here. The government is not serious about the problems faced by the public,” he said. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He said that thousands of people entered Kathmandu in private vehicles by paying heavy price after the government lifted the lockdown more than a month ago. However, the government did not seem concerned about resuming long-distance service by preparing necessary guidelines and regulations.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The government’s concept that coronavirus will spread through black number plate and not the red one is flawed,” he added.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12175', 'image' => '20200906013759_1599341945.1.jpg', 'article_date' => '2020-09-06 13:37:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12427', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Trade Bearing Brunt of Expensive Transshipment Cost ', 'sub_title' => '', 'summary' => 'September 6: Due to the landlocked nature of Nepal, it is estimated that the transshipment cost of Nepal is up to 20 percent higher than other countries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 6: Due to the landlocked nature of Nepal, it is estimated that the transshipment cost of Nepal is up to 20 percent higher than other countries. While the coastal countries limit the cost of transshipment between 5 to 10 percent of the total trade costs, it costs up to 25 percent in Nepal’s foreign trade. Efforts to reduce the cost have not been effective so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Ashok Kumar Temani, chairman of Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), say that foreign trade has not become competitive due to the high transshipment cost. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">“The transshipment cost in countries linked with ocean is 5 to 10 percent of the total trade cost. But, it costs up to a quarter in our country,” he told New Business Age. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Temani believes that the foreign trade has become expensive and lags behind in competition due to the inability to reduce the transportation costs. Under normal circumstances, the cost is around 25 percent in average, and sometimes goes up to 40 percent. That is one of the reasons why Nepalese products are not been able to compete in the international market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Recently, some importers have paid double fare than that of the price of goods. Due to the government decision and procedural delay, the containers carrying peas are stuck in the dry port of Birgunj and now have to pay twice more fare and fine than the price of the goods. Importer Om Prakash Moore says that they have to pay Rs 2.4 million including holding charge and fare for a container of peas which actually costs Rs 1.2 million only. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12174', 'image' => '20200906010325_1599342452.Clipboard12.jpg', 'article_date' => '2020-09-06 13:02:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12426', 'article_category_id' => '1', 'title' => 'Government Grants Permission for First Expedition this Season to Scale Mt Baruntse ', 'sub_title' => '', 'summary' => 'September 6: The Department of Tourism has granted permission for an expedition team to scale Mount Baruntse at a time when tourism activities in the country have come to a complete halt due to Covid-19 pandemic.', 'content' => '<p><em>Mt Baruntse. Photo Courtesy: Seven Summit Treks</em></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 6: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Tourism has granted permission for an expedition team to scale Mount Baruntse at a time when tourism activities in the country have come to a complete halt due to Covid-19 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:"Arial Unicode MS"">The department issued permission to a six-member Nepali team for the first expedition of the season. The department confirmed that the team led by Dawa Steven Sherpa will be the first to scale the 7129 meters peak in the upcoming fall season.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With this decision, the department has opened the door for other expeditions to scale mountains in Nepal, said Meera Acharya, director of the Department of Tourism.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Bahrain’s prince Nasir Bin Hamad Al Khalifa will visit Nepal for an expedition after September 15. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The prince, who is also the commander of Bahrain Army, will lead an 18-member expedition team which also includes three Britishers. Prince Khalifa’s team will remain in Nepal for two 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:"Arial Unicode MS"">The Council of Ministers approved the team to visit Nepal on a chartered flight upon the recommendation of Tourism Minister Yogesh Bhattarai a few days ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The team from Bahrain will be accompanied by Seven Summit Treks. The team will first scale Lobuche (6119) and then Manaslu (8163). The team is planning to return next year to scale Everest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, stakeholders say the visit of a VIP for expedition is a positive step for the tourism industry of Nepal which is badly affected by Covid-19 crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This expedition is expected to draw the attention of the world and provide some relief to the industry, says General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung.</span></span></span></span></p> <p> </p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12173', 'image' => '20200906115928_0329255f8dbb13d28ed16e844b6efa3c.jpg', 'article_date' => '2020-09-06 11:58:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12425', 'article_category_id' => '1', 'title' => 'World Bank Provides Additional Grant of US$10.85 Million to Nepal', 'sub_title' => 'The Fund will be Utilized to Support Learning and Build Resilient Education Sector in Nepal amid COVID-19 crisis', 'summary' => 'September 6: The Government of Nepal and the World Bank recently signed a financing agreement for an additional grant of US$10.85 million to the School Sector Development Program (SSDP)', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 6: The Government of Nepal and the World Bank recently signed a financing agreement for an additional grant of US$10.85 million to the School Sector Development Program (SSDP) to maintain access to basic education and continued learning for children amid the COVID-19 crisis. </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 program aims to improve the quality, equitable access, and efficiency of basic and secondary education in 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"> The World Bank says that the additional grant from the Global Partnership for Education (GPE) COVID-19 Accelerated Funds will contribute to the implementation of the Ministry of Education, Science and Technology’s COVID-19 contingency plan </span></span><span style="font-size:14.0pt"><span style="font-family:Times">to mitigate and respond to the potential impacts of the pandemic on the education sector</span></span><span style="font-size:14.0pt"><span style="font-family:Times">.</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 agreement was signed by the Joint Secretary of the Ministry of Finance, Shree Krishna Nepal on behalf of the Government of Nepal and by the World Bank Country Director for the Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos amid a function on September 4.</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"> “We are thankful to the World Bank and GPE for the additional grant that will help mitigate learning loss for children due to the impact of COVID-19,” the statement quoted Joint Secretary Nepal as saying. </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">“</span></span><span style="font-size:14.0pt"><span style="font-family:Times">The grant provides much needed support to the government to </span></span><span style="font-size:14.0pt"><span style="font-family:Times">respond to the impacts of the pandemic</span></span><span style="font-size:14.0pt"><span style="font-family:Times"> to enable continuity of learning </span></span><span style="font-size:14.0pt"><span style="font-family:Times">during school closures, enable schools to safely resume and mitigate the impacts on students and teachers, including loss of learning time and psychosocial impacts.” </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 additional grant will finance activities to support remote learning programs through television, radio and the learning portal as well as printed learning packs for children who do not have access to media or internet, the statement further said. </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 grant will support communication campaigns and teacher professional development programs and help strengthen the Education Management Information Systems. The grant will also support provincial and local governments to support safe reopening of schools and continued learning of children.</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 education sector in Nepal and across the world has been one of the hardest hit owing to the pandemic which has deeply affected learning outcomes for children,” stated Hadad-Zervos, World Bank Country Director for the Maldives, Nepal and Sri Lanka.</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"> “While supporting the immediate needs for safeguarding access and learning for children, especially girls, the additional grant will support the broader resilient recovery efforts of the government and help build back better the education sector in 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">The SSDP is a sector-wide program supported by IDA credit of US$185 million, together with support from Asian Development Bank, European Union, Finland, Global Partnership for Education (GPE), Japan International Cooperation Agency, Norway, USAID, UNICEF and REACH Multi-Donor Trust Fund administered by the World Bank. </span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-09-06%20at%2011.27.56%20AM.png" style="height:408px; width:537px" /></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> <em>Source: World Bank</em></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12172', 'image' => '20200906112737_My Effect.jpg', 'article_date' => '2020-09-06 11:25:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12424', 'article_category_id' => '1', 'title' => 'Banks Paying Tens of Millions for Safeguarding Loans and Deposits', 'sub_title' => '', 'summary' => 'September 4: Banks and financial institutions (BFIs) have been paying tens of millions of rupees every year for the insurance of their loans and deposits. ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 4: Banks and financial institutions (BFIs) have been paying tens of millions of rupees every year for the insurance of their loans and deposits. In the last fiscal year alone, 72 banks and finance companies paid around Rs 1.61 billion to the Deposits and Credit Guarantee Fund for the risk management of their deposits and loans. Banks had paid Rs 1,058,000,000 for the protection of their deposits and Rs. 552,500,000 for the protection of their loans. The fund has been investing the collected fees in government bonds and term deposits of commercial banks.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Deposits of banks and finance companies haven’t declined by much despite the coronavirus pandemic. This is also the reason for the Deposits and Credit Guarantee Fund to be able to collect Rs 286.4 million for the protection of deposits of banks and finance companies in the first month of the current fiscal year. Chief Executive Officer of the Fund, Bishnu Babu Mishra, says that the Fund aims to raise the amount collected for the protection of deposits. According to him, the Fund has an estimated target of raising Rs 1,145,700,000 from the banks for the protection of their deposits in the current fiscal year 2077/78.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund collects the fee every 3 months (that is 4 times a year) for the insurance of all kinds of deposits made by the depositors. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“As per the Deposit Protection Regulations 2075, the Fund charges an annual fee of 0.16 percent i.e. a monthly fee of 0.04 percent of the total deposits for the protecting the deposits,” he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund determines the fee for the protection of loans in accordance to the regulations. The regulations have a provision for banks to pay 1 percent of the remaining principal and the interest amount to the Fund as the loan protection fee. CEO Mishra informed that the banks are not permitted to collect this money from the customers by charging them with a separate heading of “deposits and loan protection”.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">According to the Fund, a sum of Rs 713 billion has been protected from the 26,664,000 depositors of different banks and finance companies till date. In addition, loan of around Rs billion taken by 899,000 debtors has been protected by the Fund. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund invests the fees accumulated from the banks and finance companies in commercial banks. Even though the Fund is allowed to invest in government bonds, they have mostly been investing entirely in commercial banks. As per the Investment Regulation 2074, investment in only the term deposits or call deposits of banks that have been in profit for a consecutive 5 years is permitted. The single or multiple deposits made in a bank’s term deposit account should not exceed 20 percent of the bank’s paid-up capital or the Fund’s total investment. The Fund can not deposit an amount less than Rs 50,000,000 or more than Rs 1 billion , in the term account of a bank in one transaction. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12171', 'image' => '20200904034517_bank.jpg', 'article_date' => '2020-09-04 15:44:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12423', 'article_category_id' => '1', 'title' => 'Nepal-Bound Goods From China Stuck at Border Points', 'sub_title' => '', 'summary' => 'September 4: With the festive season just around the corner, Nepal-bound goods have been stranded in the northern border points of Tatopani and Rasuwagadhi.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">September 4: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the festive season just around the corner, Nepal-bound goods have been stranded in the northern border points of Tatopani and Rasuwagadhi. There is high demand for readymade garments during the Dashain festival, which falls in mid-October this year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">According to the Customs Department, the Tatopani transit point is closed since the last two months due to landslides while the Rasuwagadhi border hasn’t come into operation after the workers involved in loading goods there were diagnosed with Covid-19. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Director of the Customs Department, Sishir Ghimire, says that operating the customs points with China was always challenging due to the difficult topography. In addition to this, they are now facing the problems of natural calamity and Covid-19 pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chief of the Rasuwagadhi Customs Office Punya Bikram Khadka sys that they are unable to resume service from the customs point after detection of virus among the workers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Other workers are currently placed in quarantine and their swab samples have been collected. It is not possible to reopen the border until we get the report,” said Khadka.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He says that his Chinese counterpart has decided to release the goods only after getting the PCR reports of the drivers, and other staffers involved in unloading goods at the customs points.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">More that 30 containers are currently stranded at the customs points. Customs chief Khadka says they are making efforts to reopen the border as soon as possible because a large quantity of goods are imported during this season for the Dashain festival. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12170', 'image' => '20200904025150_1599171108.Clipboard04.jpg', 'article_date' => '2020-09-04 14:51:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12422', 'article_category_id' => '1', 'title' => 'Collection of Insurance Premium Increased after Lockdown was Lifted ', 'sub_title' => '', 'summary' => 'September 4: Despite the coronavirus pandemic, life insurance companies have collected above average premium in July/August. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 4: Despite the coronavirus pandemic, life insurance companies have collected above average premium in July/August. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The average monthly premium collection of all 19 insurance companies of Nepal is Rs 7.75 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The preliminary data of Insurance Board Nepal shows that the total premium collection in July/August was above average. The total amount collected by the insurance companies during the review month stood at Rs 10.14 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Nepal Life Insurance Company is ahead in terms of premium collection. The company collected Rs 3.97 billion premium in July/August. Likewise, National Life Insurance Company collected Rs 1.6 billion and NLIC collected Rs 1.5 billion premium during the same period. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The four-month lockdown that was imposed in March 24 to control the spread of coronavirus affected life insurance businesses. Since the renewal of old insurance policy is done in April, May and June, the insurance business grows during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">As the fiscal year ends in June/July, the premium collection in the month is higher than other months. However, due to the lockdown, it was not easy for the insurance businesses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">After the lockdown was eased in June, the life insurance companies were back in business. The premium collection in June was Rs 24 billon, which is higher than average. The premium collection was higher as the companies and insurance agents were active after the lockdown was lifted. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">CEO of Union Life Insurance Company, Manoj Kumar Lal Karna informed that with the impact of June, the collection of insurance premiums has also increased in July. “There was no lockdown in July and so the agents could go to the field and work,” he said, adding, “As a result, the insurance premium increased in July.” </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12169', 'image' => '20200904021424_1599171150.Clipboard05.jpg', 'article_date' => '2020-09-04 14:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12421', 'article_category_id' => '1', 'title' => 'Tender Evaluation of East-West Highway Faces Technical Glitch', 'sub_title' => '', 'summary' => 'September 4: The tender evaluation process of Kakarbhitta-Inaruwa section of the contentious East-West Railway has been halted due to technical problems in downloading the documents registered through electronic bidding method.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 4: The tender evaluation process of Kakarbhitta-Inaruwa section of the contentious East-West Railway has been halted due to technical problems in downloading the documents registered through electronic bidding method.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The concerned authorities are unable to evaluate the documents since the last three weeks.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Issuing a notice on August 26, the Public Procurement Monitoring Office (PPMO) said that the procurement process has been halted because of their failure to download the documents since last month.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Coincidently, Patan High Court had ordered the PPMO to move ahead with the tender process the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Department of Railways was preparing to evaluate 120 proposals for the construction of the 106-kilometer long track-bed along the section. But the process has remained on hold ever since the problem surfaced.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Director General of the Department of Railways, Balaram Mishra, informed that although they were preparing to evaluate the proposals after the high court’s ruling, they were unable to do so due to the problem in downloading the documents.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson of PPMO Sushil Dhakal says they are making efforts to resolve the problem but did not specify the exact time they will be able to sort out the issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, the inordinate delay has cast doubts about the intention of the concerned government bodies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has been accused of trying to award the contract worth Rs 28 billion to selected contractors. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12168', 'image' => '20200904124847_1599170858.Clipboard03.jpg', 'article_date' => '2020-09-04 12:48:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12420', 'article_category_id' => '1', 'title' => 'NCP Selects Vice Chairman Gautam over Finance Minister Khatiwada', 'sub_title' => '', 'summary' => 'September 4: The ruling Nepal Communist Party (NCP) has decided to recommend the party’s vice chairman Bamdev Gautam for the vacant position of National Assembly member to be nominated by the president.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 4: The ruling Nepal Communist Party (NCP) has decided to recommend the party’s vice chairman Bamdev Gautam for the vacant position of National Assembly member to be nominated by the president.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Prime Minister KP Sharma Oli was in favour of nominating Finance Minister Yuba Raj Khatiwada for another term but he was under mounting pressure to recommend Gautam for the post to maintain internal balance and cordial relation within the party.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NCP Spokesperson Narayan Kaji Shrestha confirmed that the secretariat meeting of the party held at PM’s official residence in Baluwatar on Thursday (September 3) decided to recommend Gautam’s name.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Khatiwada has to be re-appointed as member of the upper house of parliament to continue as finance minister after September 5. However, Khatiwada’s chances of continuing his office as the finance minister has been all but ended with the party’s decision to choose Gautam.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">However, Khatiwada still has slim chances of remaining in office provided that the party orders any one of the two nominated MPs to resign for re-appointing Khatiwada. However, the secretariat meeting on Thursday did not discuss this issue, informed party spokesperson Shrestha.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The secretariat meeting had decided to recommend Gautam’s name six months ago. But the party had courted controversy for not implementing the decision. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Khatiwada’s first term in office had ended on March 3 but he got nominated as upper house member by the president six months ago upon PM Oli’s recommendation. Without being a member of parliament, Khatiwada cannot continue as finance minister. He current holds the portfolio of Communication and Information Minister as well.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12167', 'image' => '20200904113647_20191022025030_20190927045330__MG_7700.JPG', 'article_date' => '2020-09-04 11:36:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12419', 'article_category_id' => '1', 'title' => 'Industries Struggling due to Prohibitory Order', 'sub_title' => '', 'summary' => 'September 3: The government has given high priority to essential goods and services during the prohibitory period as well as lockdown period. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 3: The government has given high priority to essential goods and services during the prohibitory period as well as lockdown period. Soon after imposing lockdown on March 24, the government had pledged to facilitate in reopening factories that produce essential goods. However, the production and supply of such essential goods have become problematic after the district administration offices in various districts issued prohibitory orders to contain the spread 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:"Arial Unicode MS"">Industrialists complain that operating their factories has become uncertain because of the strict measures adopted by government authorities. Even the production of food and medicines has been badly affected by the prohibitory orders issued by more than 50 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:"Arial Unicode MS"">Pharmaceutical companies in the Bara-Parsa Industrial Corridor have been closed since one week after the local administration ordered quarantine facility for workers within the industry. Factories producing food are also operating with minimum work force.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Low production is likely to disrupt the supply chain, warns Subodh Gupta, senior vice president of Birgunj Chamber of Commerce. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Chief District Officer of Parsa Asman Tamang says that they believe the industrial sector as the source of community transmission of coronavirus in the region.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Soon after the lockdown was lifted about a month ago, Indian workers employed in the industries tested positive for coronavirus, says Tamang. Therefore, they took precautionary measures to stop the disease from spreading.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12166', 'image' => '20200903060551_20200830020949_1598735616.2.jpg', 'article_date' => '2020-09-03 18:04:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 7: Industries in the Bara-Parsa Corridor have started reducing the number of workers as their production has shrunk due to the lockdown and restriction. </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">Stating that their production has been affected due to the four-month-long lockdown and the ongoing nationwide prohibitory order, the entrepreneurs have been firing their factory workers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Labor and Employment Office, Parsa, more than half a dozen industries in the industrial corridor have sent information regarding labor cuts. The labor office also informed that an industry in Birgunj laid off all of its workers on Sunday (September 6) alone.</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">Sundar Shrestha, chief of the Labor and Employment Office, informed that most of the industries have laid off their workers.</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">“Most of the industries in the corridor have been found to have laid off their workers unofficially, and only a limited number of industries have informed about it to the labor office,” Shrestha said.</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 say that they have been removing workers on mutual understanding. However, the industries have not informed about the decision to the labor office.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Labor Act, industries are subjected to inform about the reduction of work force to the Labor Office. Workers kept in reserve should be paid half salary according to the act.</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 the case of labor deduction, the provision of the labor act mandates industries to pay annual salary as compensation to the worker. Likewise, the worker should be informed of their termination one month in advance.</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">It is estimated that more than around 100,000 workers are working in 1,000 industries in the industrial corridor. According to the industrialists, 35 to 40 percent of them have lost their jobs due to the inconvenience caused by the COVID-19.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12180', 'image' => '20200907020811_1599429995.Clipboard02.jpg', 'article_date' => '2020-09-07 14:07:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12432', 'article_category_id' => '1', 'title' => 'Government Terminates Contracts with 2 Companies for Failing to Supply Fertilizers', 'sub_title' => '', 'summary' => 'September 7: The government has terminated the contracts of two companies – Sailung Enterprises and Honiko Multiple Private Limited – for failing to supply chemical fertilizers on time.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 7: The government has terminated the contracts of two companies – Sailung Enterprises and Honiko Multiple Private Limited – for failing to supply chemical fertilizers on time. Besides scrapping the contracts, the government has also confiscated the deposits of the two companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned Agriculture Inputs Company Limited (Krishi Samagri Company Limited) had signed separate contracts with the two companies for the supply of 25,000 metric tons of urea each.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the agreement, both the companies should have supplied the fertilizers within September 5. But the two private companies have not been able to assure the government-owned company about supplying the fertilizers anytime soon, leading to the termination of the contracts.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">More than Rs 90 million deposit of the two companies have also been confiscated 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:"Arial Unicode MS"">“We had to take action against the two companies because they were careless despite having adequate time. Therefore we had to terminate the contracts. Their deposits have also been freezed,” said Minister for Agriculture and Livestock Development Ghanashyam Bhusal during a press conference organised at the ministry on Sunday (September 6). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned company had signed the agreement with Sailung Enterprises on April 24 and with Honiko on April 27. As per the initial agreement, the two companies should have imported the fertilizers within July 23. The government later extended the deadline by 25 days upon the request of the two companies. Minister Bhusal said that the contracts were terminated after the companies failed to supply the fertilizers even after the extended deadline.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sailung Enterprises is owned by Sharada Prasad Adhikari, who is the landlord of Nepal Communist Party Co-chairman Pushpa Kalal Dahal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Agriculture Inputs Company Limited, the two companies could not furnish any details about the shipment or the vessels used to import the fertilizers despite repeated follow ups.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12179', 'image' => '20200907122502_597613093.Clipboard02.jpg', 'article_date' => '2020-09-07 12:24:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12431', 'article_category_id' => '1', 'title' => 'Internal Flights to Mountain and Hill Districts to Resume from September 17 ', 'sub_title' => '', 'summary' => 'September 7: The government is preparing to resume air service in mountainous and hill districts from September 17. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 7: The government is preparing to resume air service in mountainous and hill districts from September 17. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the government is preparing to resume domestic flights to those districts that have reported few cases 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:"Arial Unicode MS"">Earlier, the government had announced to resume air service from September 1 but that decision was put on hold after the capital and several other districts reported a rapid increase in Covid-19 cases.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking at an interaction with stakeholders regarding the reopening of tourism industry by following safety protocols, Minister Bhattarai reaffirmed that air service will resume from September 17. Meanwhile, the government is preparing to increase the number of international flights after analyzing the current flights for a few days. The government had lifted restriction on international flights from September 1.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai further said that the government as formed a team comprising officials from the Department of Tourism and the Nepal Tourism Board to study the international practice of safe handling of 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:"Arial Unicode MS"">“Some vital decisions will be taken after completion of the study,” said Minister Bhattarai.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai further said that he is in favour of gradually reopening the tourism industry by maintaining safety standards. The ministry is preparing to submit a proposal to the cabinet in this regard, informed the minister.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12178', 'image' => '20200907105804_1599443855.Clipboard12.jpg', 'article_date' => '2020-09-07 10:57:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12430', 'article_category_id' => '1', 'title' => 'Work Procedure for Concessional Loans to Startups Presented to Cabinet', 'sub_title' => '', 'summary' => 'September 6: The government has presented a proposal to the cabinet for amending the work procedure to provide 2 percent concessional loan to start-ups.', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">September 6: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">The government has presented a proposal to the cabinet for amending the work procedure to provide 2 percent concessional loan to start-ups.</span></span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The National Planning Commission has submitted a proposal to the Council of Ministers after changing provision of grants into loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">According to the commission, a decision will be taken soon since the proposal has been taken to the Council of Ministers through the Ministry of Finance. A total of 699 proposals for seed money will be finalized after decision. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">People, who were interested in the latest works of information technology, agriculture, energy, health, tourism, and industry had applied for the loan in mid-May.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The call for proposals was open from May 11 to June 9. In case of loans for startup businesses, the amended work procedure allows a maximum loan of 50 percent of the required capital, which can range from Rs 1 million to Rs 10 million. An individual or a firm were not allowed to submit a proposal for multiple loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">A person or a firm can get a maximum loan of Rs 5 million at 2 percent interest rate if they wish to undertake a venture of Rs 10 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The proposal needs to have clear information about the business plan along with the status of the self-investment of the entrepreneur, the amount they have demanded from the Government of Nepal and any of their other investment partnerships. The commission hasn’t accepted any further applications because of the lockdown.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The commission said that 15 days will be given to submit the proposals after the Council of Ministers pass the work procedure. The government had initially envisioned a ‘Challenge Fund’ to provide grant up to 50 percent of the capital requirement in order to encourage young entrepreneurs to start new businesses. Although the government had announced such provision during the budget of last fiscal year, the program could not be implemented. The government has given continuity to the program by changing the modality into concessional loan in this year’s budget instead of grant.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The revised work procedure has been made by including the advices from the ministries of finance, industry and education. Dr Ram Kumar Phuyal, a member of the National Planning Commission, says that a high-level committee will recommend the loans to those who meet the criteria as stated in the amended work procedure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The committee will have the right to select and recommend the entrepreneurs, whom they think will develop high-quality inventions and systems is less time, cost and resources. According to Phuyal, the committee will also be responsible to check if the loans are being used in the right way. The committee will also be responsible for the monitoring of entrepreneurs, businessmen or institutions that have received the loan. A steering committee has been formed under the coordination of a member appointed by the National Planning Commission for the provision of loans. The committee will also have a joint secretary each from the ministries of finance; industry, commerce and supplies; and education as its members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">A representative of banks has also been included in the committee for the selection of recipients of the loan. An official from the commission said that a representative of banks was not selected previously as the work procedure was earlier concerned with grants. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12177', 'image' => '20200906035436_MOF.jpg', 'article_date' => '2020-09-06 15:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12429', 'article_category_id' => '1', 'title' => 'Insurance Board Fails to Recognize PCR Tests Conducted by Private Labs', 'sub_title' => '', 'summary' => 'September 6: The Insurance Board has been dragged into controversy for not recognizing the report of PCR tests carried out by private labs at a time when Covid-19 cases are rising.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 6: The Insurance Board has been dragged into controversy for not recognizing the report of PCR tests carried out by private labs at a time when Covid-19 cases are rising.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">There is a provision for compensating a person who tests positive for coronavirus if the infected person makes insurance claims. However, the board has courted controversy after it said that it recognizes only the tests conducted by government labs. Following the decision of the board, insurance companies have stopped compensating the claimants. The individuals who have purchased insurance policy have not been able to benefit from the policy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance policy announced on April 19 states that the individual can claim for compensation by presenting report of PCR test conducted at government labs. At that time, the government had not given permission to private labs to conduct PCR tests. But currently 13 private labs are providing the service after the government gave them permission to conduct the tests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Insurance Board should have amended the policy announced on April 19. However, the insurance companies have not compensated the beneficiaries due to the failure of the board to recognize the tests carried out by private labs.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12176', 'image' => '20200906031626_1599342239.Clipboard09.jpg', 'article_date' => '2020-09-06 15:15:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12428', 'article_category_id' => '1', 'title' => '‘1 Million People Associated with Public Transportation Rendered Jobless’', 'sub_title' => '', 'summary' => 'September 6: The government decided on July 9 to allow public vehicles to operate in short routes within their respective districts after easing the nearly four-months lockdown restriction on transportation.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 6: The government decided on July 9 to allow public vehicles to operate in short routes within their respective districts after easing the nearly four-months lockdown restriction on transportation. The transport entrepreneurs started their business after repairing their vehicles. However, in less than one month, the government imposed prohibitory orders in various districts sending the vehicles back to the garages.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although other countries have gradually resumed public transportation by following safety protocols, Nepal has not prepared any work plan to this end.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Most of the countries have eased the lockdown restrictions but Nepal has only changed the definition of lockdown just like transferring ‘an old wine into a new bottle’. In fact, the prohibitory order seems to be more strict than the lockdown imposed in the initial stage to curb the spread 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:"Arial Unicode MS"">According to the Federation of Nepalese National Transport Entrepreneurs (FNNTE), there are around 300,000 public vehicles and more than 60,000 cargo vehicles registered in Nepal. The federation says around 1 million people have got direct employment from this sector. Around 600,000 drivers and helpers who make a living by earning daily wages are at the receiving end since the last five months due to the closure of this sector, says Yogendra Nath Karmacharya, chairman of FNNTE. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He claimed that more than 1 million persons in this sector have lost their jobs while the government has shown little interest to resume public transportation under the influence of middlemen.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Other countries have gradually reopened public transportation but our government isn’t clear resuming the service here. The government is not serious about the problems faced by the public,” he said. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He said that thousands of people entered Kathmandu in private vehicles by paying heavy price after the government lifted the lockdown more than a month ago. However, the government did not seem concerned about resuming long-distance service by preparing necessary guidelines and regulations.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The government’s concept that coronavirus will spread through black number plate and not the red one is flawed,” he added.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12175', 'image' => '20200906013759_1599341945.1.jpg', 'article_date' => '2020-09-06 13:37:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12427', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Trade Bearing Brunt of Expensive Transshipment Cost ', 'sub_title' => '', 'summary' => 'September 6: Due to the landlocked nature of Nepal, it is estimated that the transshipment cost of Nepal is up to 20 percent higher than other countries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 6: Due to the landlocked nature of Nepal, it is estimated that the transshipment cost of Nepal is up to 20 percent higher than other countries. While the coastal countries limit the cost of transshipment between 5 to 10 percent of the total trade costs, it costs up to 25 percent in Nepal’s foreign trade. Efforts to reduce the cost have not been effective so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Ashok Kumar Temani, chairman of Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), say that foreign trade has not become competitive due to the high transshipment cost. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">“The transshipment cost in countries linked with ocean is 5 to 10 percent of the total trade cost. But, it costs up to a quarter in our country,” he told New Business Age. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Temani believes that the foreign trade has become expensive and lags behind in competition due to the inability to reduce the transportation costs. Under normal circumstances, the cost is around 25 percent in average, and sometimes goes up to 40 percent. That is one of the reasons why Nepalese products are not been able to compete in the international market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Recently, some importers have paid double fare than that of the price of goods. Due to the government decision and procedural delay, the containers carrying peas are stuck in the dry port of Birgunj and now have to pay twice more fare and fine than the price of the goods. Importer Om Prakash Moore says that they have to pay Rs 2.4 million including holding charge and fare for a container of peas which actually costs Rs 1.2 million only. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12174', 'image' => '20200906010325_1599342452.Clipboard12.jpg', 'article_date' => '2020-09-06 13:02:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12426', 'article_category_id' => '1', 'title' => 'Government Grants Permission for First Expedition this Season to Scale Mt Baruntse ', 'sub_title' => '', 'summary' => 'September 6: The Department of Tourism has granted permission for an expedition team to scale Mount Baruntse at a time when tourism activities in the country have come to a complete halt due to Covid-19 pandemic.', 'content' => '<p><em>Mt Baruntse. Photo Courtesy: Seven Summit Treks</em></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 6: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Tourism has granted permission for an expedition team to scale Mount Baruntse at a time when tourism activities in the country have come to a complete halt due to Covid-19 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:"Arial Unicode MS"">The department issued permission to a six-member Nepali team for the first expedition of the season. The department confirmed that the team led by Dawa Steven Sherpa will be the first to scale the 7129 meters peak in the upcoming fall season.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With this decision, the department has opened the door for other expeditions to scale mountains in Nepal, said Meera Acharya, director of the Department of Tourism.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Bahrain’s prince Nasir Bin Hamad Al Khalifa will visit Nepal for an expedition after September 15. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The prince, who is also the commander of Bahrain Army, will lead an 18-member expedition team which also includes three Britishers. Prince Khalifa’s team will remain in Nepal for two 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:"Arial Unicode MS"">The Council of Ministers approved the team to visit Nepal on a chartered flight upon the recommendation of Tourism Minister Yogesh Bhattarai a few days ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The team from Bahrain will be accompanied by Seven Summit Treks. The team will first scale Lobuche (6119) and then Manaslu (8163). The team is planning to return next year to scale Everest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, stakeholders say the visit of a VIP for expedition is a positive step for the tourism industry of Nepal which is badly affected by Covid-19 crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This expedition is expected to draw the attention of the world and provide some relief to the industry, says General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung.</span></span></span></span></p> <p> </p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12173', 'image' => '20200906115928_0329255f8dbb13d28ed16e844b6efa3c.jpg', 'article_date' => '2020-09-06 11:58:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12425', 'article_category_id' => '1', 'title' => 'World Bank Provides Additional Grant of US$10.85 Million to Nepal', 'sub_title' => 'The Fund will be Utilized to Support Learning and Build Resilient Education Sector in Nepal amid COVID-19 crisis', 'summary' => 'September 6: The Government of Nepal and the World Bank recently signed a financing agreement for an additional grant of US$10.85 million to the School Sector Development Program (SSDP)', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 6: The Government of Nepal and the World Bank recently signed a financing agreement for an additional grant of US$10.85 million to the School Sector Development Program (SSDP) to maintain access to basic education and continued learning for children amid the COVID-19 crisis. </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 program aims to improve the quality, equitable access, and efficiency of basic and secondary education in 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"> The World Bank says that the additional grant from the Global Partnership for Education (GPE) COVID-19 Accelerated Funds will contribute to the implementation of the Ministry of Education, Science and Technology’s COVID-19 contingency plan </span></span><span style="font-size:14.0pt"><span style="font-family:Times">to mitigate and respond to the potential impacts of the pandemic on the education sector</span></span><span style="font-size:14.0pt"><span style="font-family:Times">.</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 agreement was signed by the Joint Secretary of the Ministry of Finance, Shree Krishna Nepal on behalf of the Government of Nepal and by the World Bank Country Director for the Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos amid a function on September 4.</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"> “We are thankful to the World Bank and GPE for the additional grant that will help mitigate learning loss for children due to the impact of COVID-19,” the statement quoted Joint Secretary Nepal as saying. </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">“</span></span><span style="font-size:14.0pt"><span style="font-family:Times">The grant provides much needed support to the government to </span></span><span style="font-size:14.0pt"><span style="font-family:Times">respond to the impacts of the pandemic</span></span><span style="font-size:14.0pt"><span style="font-family:Times"> to enable continuity of learning </span></span><span style="font-size:14.0pt"><span style="font-family:Times">during school closures, enable schools to safely resume and mitigate the impacts on students and teachers, including loss of learning time and psychosocial impacts.” </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 additional grant will finance activities to support remote learning programs through television, radio and the learning portal as well as printed learning packs for children who do not have access to media or internet, the statement further said. </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 grant will support communication campaigns and teacher professional development programs and help strengthen the Education Management Information Systems. The grant will also support provincial and local governments to support safe reopening of schools and continued learning of children.</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 education sector in Nepal and across the world has been one of the hardest hit owing to the pandemic which has deeply affected learning outcomes for children,” stated Hadad-Zervos, World Bank Country Director for the Maldives, Nepal and Sri Lanka.</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"> “While supporting the immediate needs for safeguarding access and learning for children, especially girls, the additional grant will support the broader resilient recovery efforts of the government and help build back better the education sector in 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">The SSDP is a sector-wide program supported by IDA credit of US$185 million, together with support from Asian Development Bank, European Union, Finland, Global Partnership for Education (GPE), Japan International Cooperation Agency, Norway, USAID, UNICEF and REACH Multi-Donor Trust Fund administered by the World Bank. </span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-09-06%20at%2011.27.56%20AM.png" style="height:408px; width:537px" /></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> <em>Source: World Bank</em></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12172', 'image' => '20200906112737_My Effect.jpg', 'article_date' => '2020-09-06 11:25:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12424', 'article_category_id' => '1', 'title' => 'Banks Paying Tens of Millions for Safeguarding Loans and Deposits', 'sub_title' => '', 'summary' => 'September 4: Banks and financial institutions (BFIs) have been paying tens of millions of rupees every year for the insurance of their loans and deposits. ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 4: Banks and financial institutions (BFIs) have been paying tens of millions of rupees every year for the insurance of their loans and deposits. In the last fiscal year alone, 72 banks and finance companies paid around Rs 1.61 billion to the Deposits and Credit Guarantee Fund for the risk management of their deposits and loans. Banks had paid Rs 1,058,000,000 for the protection of their deposits and Rs. 552,500,000 for the protection of their loans. The fund has been investing the collected fees in government bonds and term deposits of commercial banks.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Deposits of banks and finance companies haven’t declined by much despite the coronavirus pandemic. This is also the reason for the Deposits and Credit Guarantee Fund to be able to collect Rs 286.4 million for the protection of deposits of banks and finance companies in the first month of the current fiscal year. Chief Executive Officer of the Fund, Bishnu Babu Mishra, says that the Fund aims to raise the amount collected for the protection of deposits. According to him, the Fund has an estimated target of raising Rs 1,145,700,000 from the banks for the protection of their deposits in the current fiscal year 2077/78.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund collects the fee every 3 months (that is 4 times a year) for the insurance of all kinds of deposits made by the depositors. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“As per the Deposit Protection Regulations 2075, the Fund charges an annual fee of 0.16 percent i.e. a monthly fee of 0.04 percent of the total deposits for the protecting the deposits,” he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund determines the fee for the protection of loans in accordance to the regulations. The regulations have a provision for banks to pay 1 percent of the remaining principal and the interest amount to the Fund as the loan protection fee. CEO Mishra informed that the banks are not permitted to collect this money from the customers by charging them with a separate heading of “deposits and loan protection”.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">According to the Fund, a sum of Rs 713 billion has been protected from the 26,664,000 depositors of different banks and finance companies till date. In addition, loan of around Rs billion taken by 899,000 debtors has been protected by the Fund. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund invests the fees accumulated from the banks and finance companies in commercial banks. Even though the Fund is allowed to invest in government bonds, they have mostly been investing entirely in commercial banks. As per the Investment Regulation 2074, investment in only the term deposits or call deposits of banks that have been in profit for a consecutive 5 years is permitted. The single or multiple deposits made in a bank’s term deposit account should not exceed 20 percent of the bank’s paid-up capital or the Fund’s total investment. The Fund can not deposit an amount less than Rs 50,000,000 or more than Rs 1 billion , in the term account of a bank in one transaction. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12171', 'image' => '20200904034517_bank.jpg', 'article_date' => '2020-09-04 15:44:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12423', 'article_category_id' => '1', 'title' => 'Nepal-Bound Goods From China Stuck at Border Points', 'sub_title' => '', 'summary' => 'September 4: With the festive season just around the corner, Nepal-bound goods have been stranded in the northern border points of Tatopani and Rasuwagadhi.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">September 4: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the festive season just around the corner, Nepal-bound goods have been stranded in the northern border points of Tatopani and Rasuwagadhi. There is high demand for readymade garments during the Dashain festival, which falls in mid-October this year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">According to the Customs Department, the Tatopani transit point is closed since the last two months due to landslides while the Rasuwagadhi border hasn’t come into operation after the workers involved in loading goods there were diagnosed with Covid-19. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Director of the Customs Department, Sishir Ghimire, says that operating the customs points with China was always challenging due to the difficult topography. In addition to this, they are now facing the problems of natural calamity and Covid-19 pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chief of the Rasuwagadhi Customs Office Punya Bikram Khadka sys that they are unable to resume service from the customs point after detection of virus among the workers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Other workers are currently placed in quarantine and their swab samples have been collected. It is not possible to reopen the border until we get the report,” said Khadka.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He says that his Chinese counterpart has decided to release the goods only after getting the PCR reports of the drivers, and other staffers involved in unloading goods at the customs points.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">More that 30 containers are currently stranded at the customs points. Customs chief Khadka says they are making efforts to reopen the border as soon as possible because a large quantity of goods are imported during this season for the Dashain festival. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12170', 'image' => '20200904025150_1599171108.Clipboard04.jpg', 'article_date' => '2020-09-04 14:51:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12422', 'article_category_id' => '1', 'title' => 'Collection of Insurance Premium Increased after Lockdown was Lifted ', 'sub_title' => '', 'summary' => 'September 4: Despite the coronavirus pandemic, life insurance companies have collected above average premium in July/August. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 4: Despite the coronavirus pandemic, life insurance companies have collected above average premium in July/August. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The average monthly premium collection of all 19 insurance companies of Nepal is Rs 7.75 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The preliminary data of Insurance Board Nepal shows that the total premium collection in July/August was above average. The total amount collected by the insurance companies during the review month stood at Rs 10.14 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Nepal Life Insurance Company is ahead in terms of premium collection. The company collected Rs 3.97 billion premium in July/August. Likewise, National Life Insurance Company collected Rs 1.6 billion and NLIC collected Rs 1.5 billion premium during the same period. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The four-month lockdown that was imposed in March 24 to control the spread of coronavirus affected life insurance businesses. Since the renewal of old insurance policy is done in April, May and June, the insurance business grows during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">As the fiscal year ends in June/July, the premium collection in the month is higher than other months. However, due to the lockdown, it was not easy for the insurance businesses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">After the lockdown was eased in June, the life insurance companies were back in business. The premium collection in June was Rs 24 billon, which is higher than average. The premium collection was higher as the companies and insurance agents were active after the lockdown was lifted. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">CEO of Union Life Insurance Company, Manoj Kumar Lal Karna informed that with the impact of June, the collection of insurance premiums has also increased in July. “There was no lockdown in July and so the agents could go to the field and work,” he said, adding, “As a result, the insurance premium increased in July.” </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12169', 'image' => '20200904021424_1599171150.Clipboard05.jpg', 'article_date' => '2020-09-04 14:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12421', 'article_category_id' => '1', 'title' => 'Tender Evaluation of East-West Highway Faces Technical Glitch', 'sub_title' => '', 'summary' => 'September 4: The tender evaluation process of Kakarbhitta-Inaruwa section of the contentious East-West Railway has been halted due to technical problems in downloading the documents registered through electronic bidding method.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 4: The tender evaluation process of Kakarbhitta-Inaruwa section of the contentious East-West Railway has been halted due to technical problems in downloading the documents registered through electronic bidding method.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The concerned authorities are unable to evaluate the documents since the last three weeks.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Issuing a notice on August 26, the Public Procurement Monitoring Office (PPMO) said that the procurement process has been halted because of their failure to download the documents since last month.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Coincidently, Patan High Court had ordered the PPMO to move ahead with the tender process the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Department of Railways was preparing to evaluate 120 proposals for the construction of the 106-kilometer long track-bed along the section. But the process has remained on hold ever since the problem surfaced.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Director General of the Department of Railways, Balaram Mishra, informed that although they were preparing to evaluate the proposals after the high court’s ruling, they were unable to do so due to the problem in downloading the documents.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson of PPMO Sushil Dhakal says they are making efforts to resolve the problem but did not specify the exact time they will be able to sort out the issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, the inordinate delay has cast doubts about the intention of the concerned government bodies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has been accused of trying to award the contract worth Rs 28 billion to selected contractors. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12168', 'image' => '20200904124847_1599170858.Clipboard03.jpg', 'article_date' => '2020-09-04 12:48:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12420', 'article_category_id' => '1', 'title' => 'NCP Selects Vice Chairman Gautam over Finance Minister Khatiwada', 'sub_title' => '', 'summary' => 'September 4: The ruling Nepal Communist Party (NCP) has decided to recommend the party’s vice chairman Bamdev Gautam for the vacant position of National Assembly member to be nominated by the president.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 4: The ruling Nepal Communist Party (NCP) has decided to recommend the party’s vice chairman Bamdev Gautam for the vacant position of National Assembly member to be nominated by the president.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Prime Minister KP Sharma Oli was in favour of nominating Finance Minister Yuba Raj Khatiwada for another term but he was under mounting pressure to recommend Gautam for the post to maintain internal balance and cordial relation within the party.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NCP Spokesperson Narayan Kaji Shrestha confirmed that the secretariat meeting of the party held at PM’s official residence in Baluwatar on Thursday (September 3) decided to recommend Gautam’s name.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Khatiwada has to be re-appointed as member of the upper house of parliament to continue as finance minister after September 5. However, Khatiwada’s chances of continuing his office as the finance minister has been all but ended with the party’s decision to choose Gautam.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">However, Khatiwada still has slim chances of remaining in office provided that the party orders any one of the two nominated MPs to resign for re-appointing Khatiwada. However, the secretariat meeting on Thursday did not discuss this issue, informed party spokesperson Shrestha.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The secretariat meeting had decided to recommend Gautam’s name six months ago. But the party had courted controversy for not implementing the decision. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Khatiwada’s first term in office had ended on March 3 but he got nominated as upper house member by the president six months ago upon PM Oli’s recommendation. Without being a member of parliament, Khatiwada cannot continue as finance minister. He current holds the portfolio of Communication and Information Minister as well.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12167', 'image' => '20200904113647_20191022025030_20190927045330__MG_7700.JPG', 'article_date' => '2020-09-04 11:36:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12419', 'article_category_id' => '1', 'title' => 'Industries Struggling due to Prohibitory Order', 'sub_title' => '', 'summary' => 'September 3: The government has given high priority to essential goods and services during the prohibitory period as well as lockdown period. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 3: The government has given high priority to essential goods and services during the prohibitory period as well as lockdown period. Soon after imposing lockdown on March 24, the government had pledged to facilitate in reopening factories that produce essential goods. However, the production and supply of such essential goods have become problematic after the district administration offices in various districts issued prohibitory orders to contain the spread 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:"Arial Unicode MS"">Industrialists complain that operating their factories has become uncertain because of the strict measures adopted by government authorities. Even the production of food and medicines has been badly affected by the prohibitory orders issued by more than 50 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:"Arial Unicode MS"">Pharmaceutical companies in the Bara-Parsa Industrial Corridor have been closed since one week after the local administration ordered quarantine facility for workers within the industry. Factories producing food are also operating with minimum work force.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Low production is likely to disrupt the supply chain, warns Subodh Gupta, senior vice president of Birgunj Chamber of Commerce. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Chief District Officer of Parsa Asman Tamang says that they believe the industrial sector as the source of community transmission of coronavirus in the region.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Soon after the lockdown was lifted about a month ago, Indian workers employed in the industries tested positive for coronavirus, says Tamang. Therefore, they took precautionary measures to stop the disease from spreading.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12166', 'image' => '20200903060551_20200830020949_1598735616.2.jpg', 'article_date' => '2020-09-03 18:04:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 7: Industries in the Bara-Parsa Corridor have started reducing the number of workers as their production has shrunk due to the lockdown and restriction. </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">Stating that their production has been affected due to the four-month-long lockdown and the ongoing nationwide prohibitory order, the entrepreneurs have been firing their factory workers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Labor and Employment Office, Parsa, more than half a dozen industries in the industrial corridor have sent information regarding labor cuts. The labor office also informed that an industry in Birgunj laid off all of its workers on Sunday (September 6) alone.</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">Sundar Shrestha, chief of the Labor and Employment Office, informed that most of the industries have laid off their workers.</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">“Most of the industries in the corridor have been found to have laid off their workers unofficially, and only a limited number of industries have informed about it to the labor office,” Shrestha said.</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 say that they have been removing workers on mutual understanding. However, the industries have not informed about the decision to the labor office.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Labor Act, industries are subjected to inform about the reduction of work force to the Labor Office. Workers kept in reserve should be paid half salary according to the act.</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 the case of labor deduction, the provision of the labor act mandates industries to pay annual salary as compensation to the worker. Likewise, the worker should be informed of their termination one month in advance.</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">It is estimated that more than around 100,000 workers are working in 1,000 industries in the industrial corridor. According to the industrialists, 35 to 40 percent of them have lost their jobs due to the inconvenience caused by the COVID-19.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12180', 'image' => '20200907020811_1599429995.Clipboard02.jpg', 'article_date' => '2020-09-07 14:07:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12432', 'article_category_id' => '1', 'title' => 'Government Terminates Contracts with 2 Companies for Failing to Supply Fertilizers', 'sub_title' => '', 'summary' => 'September 7: The government has terminated the contracts of two companies – Sailung Enterprises and Honiko Multiple Private Limited – for failing to supply chemical fertilizers on time.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 7: The government has terminated the contracts of two companies – Sailung Enterprises and Honiko Multiple Private Limited – for failing to supply chemical fertilizers on time. Besides scrapping the contracts, the government has also confiscated the deposits of the two companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned Agriculture Inputs Company Limited (Krishi Samagri Company Limited) had signed separate contracts with the two companies for the supply of 25,000 metric tons of urea each.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the agreement, both the companies should have supplied the fertilizers within September 5. But the two private companies have not been able to assure the government-owned company about supplying the fertilizers anytime soon, leading to the termination of the contracts.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">More than Rs 90 million deposit of the two companies have also been confiscated 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:"Arial Unicode MS"">“We had to take action against the two companies because they were careless despite having adequate time. Therefore we had to terminate the contracts. Their deposits have also been freezed,” said Minister for Agriculture and Livestock Development Ghanashyam Bhusal during a press conference organised at the ministry on Sunday (September 6). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned company had signed the agreement with Sailung Enterprises on April 24 and with Honiko on April 27. As per the initial agreement, the two companies should have imported the fertilizers within July 23. The government later extended the deadline by 25 days upon the request of the two companies. Minister Bhusal said that the contracts were terminated after the companies failed to supply the fertilizers even after the extended deadline.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sailung Enterprises is owned by Sharada Prasad Adhikari, who is the landlord of Nepal Communist Party Co-chairman Pushpa Kalal Dahal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Agriculture Inputs Company Limited, the two companies could not furnish any details about the shipment or the vessels used to import the fertilizers despite repeated follow ups.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12179', 'image' => '20200907122502_597613093.Clipboard02.jpg', 'article_date' => '2020-09-07 12:24:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12431', 'article_category_id' => '1', 'title' => 'Internal Flights to Mountain and Hill Districts to Resume from September 17 ', 'sub_title' => '', 'summary' => 'September 7: The government is preparing to resume air service in mountainous and hill districts from September 17. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 7: The government is preparing to resume air service in mountainous and hill districts from September 17. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the government is preparing to resume domestic flights to those districts that have reported few cases 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:"Arial Unicode MS"">Earlier, the government had announced to resume air service from September 1 but that decision was put on hold after the capital and several other districts reported a rapid increase in Covid-19 cases.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking at an interaction with stakeholders regarding the reopening of tourism industry by following safety protocols, Minister Bhattarai reaffirmed that air service will resume from September 17. Meanwhile, the government is preparing to increase the number of international flights after analyzing the current flights for a few days. The government had lifted restriction on international flights from September 1.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai further said that the government as formed a team comprising officials from the Department of Tourism and the Nepal Tourism Board to study the international practice of safe handling of 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:"Arial Unicode MS"">“Some vital decisions will be taken after completion of the study,” said Minister Bhattarai.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai further said that he is in favour of gradually reopening the tourism industry by maintaining safety standards. The ministry is preparing to submit a proposal to the cabinet in this regard, informed the minister.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12178', 'image' => '20200907105804_1599443855.Clipboard12.jpg', 'article_date' => '2020-09-07 10:57:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12430', 'article_category_id' => '1', 'title' => 'Work Procedure for Concessional Loans to Startups Presented to Cabinet', 'sub_title' => '', 'summary' => 'September 6: The government has presented a proposal to the cabinet for amending the work procedure to provide 2 percent concessional loan to start-ups.', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">September 6: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">The government has presented a proposal to the cabinet for amending the work procedure to provide 2 percent concessional loan to start-ups.</span></span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The National Planning Commission has submitted a proposal to the Council of Ministers after changing provision of grants into loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">According to the commission, a decision will be taken soon since the proposal has been taken to the Council of Ministers through the Ministry of Finance. A total of 699 proposals for seed money will be finalized after decision. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">People, who were interested in the latest works of information technology, agriculture, energy, health, tourism, and industry had applied for the loan in mid-May.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The call for proposals was open from May 11 to June 9. In case of loans for startup businesses, the amended work procedure allows a maximum loan of 50 percent of the required capital, which can range from Rs 1 million to Rs 10 million. An individual or a firm were not allowed to submit a proposal for multiple loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">A person or a firm can get a maximum loan of Rs 5 million at 2 percent interest rate if they wish to undertake a venture of Rs 10 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The proposal needs to have clear information about the business plan along with the status of the self-investment of the entrepreneur, the amount they have demanded from the Government of Nepal and any of their other investment partnerships. The commission hasn’t accepted any further applications because of the lockdown.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The commission said that 15 days will be given to submit the proposals after the Council of Ministers pass the work procedure. The government had initially envisioned a ‘Challenge Fund’ to provide grant up to 50 percent of the capital requirement in order to encourage young entrepreneurs to start new businesses. Although the government had announced such provision during the budget of last fiscal year, the program could not be implemented. The government has given continuity to the program by changing the modality into concessional loan in this year’s budget instead of grant.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The revised work procedure has been made by including the advices from the ministries of finance, industry and education. Dr Ram Kumar Phuyal, a member of the National Planning Commission, says that a high-level committee will recommend the loans to those who meet the criteria as stated in the amended work procedure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The committee will have the right to select and recommend the entrepreneurs, whom they think will develop high-quality inventions and systems is less time, cost and resources. According to Phuyal, the committee will also be responsible to check if the loans are being used in the right way. The committee will also be responsible for the monitoring of entrepreneurs, businessmen or institutions that have received the loan. A steering committee has been formed under the coordination of a member appointed by the National Planning Commission for the provision of loans. The committee will also have a joint secretary each from the ministries of finance; industry, commerce and supplies; and education as its members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">A representative of banks has also been included in the committee for the selection of recipients of the loan. An official from the commission said that a representative of banks was not selected previously as the work procedure was earlier concerned with grants. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12177', 'image' => '20200906035436_MOF.jpg', 'article_date' => '2020-09-06 15:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12429', 'article_category_id' => '1', 'title' => 'Insurance Board Fails to Recognize PCR Tests Conducted by Private Labs', 'sub_title' => '', 'summary' => 'September 6: The Insurance Board has been dragged into controversy for not recognizing the report of PCR tests carried out by private labs at a time when Covid-19 cases are rising.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 6: The Insurance Board has been dragged into controversy for not recognizing the report of PCR tests carried out by private labs at a time when Covid-19 cases are rising.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">There is a provision for compensating a person who tests positive for coronavirus if the infected person makes insurance claims. However, the board has courted controversy after it said that it recognizes only the tests conducted by government labs. Following the decision of the board, insurance companies have stopped compensating the claimants. The individuals who have purchased insurance policy have not been able to benefit from the policy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance policy announced on April 19 states that the individual can claim for compensation by presenting report of PCR test conducted at government labs. At that time, the government had not given permission to private labs to conduct PCR tests. But currently 13 private labs are providing the service after the government gave them permission to conduct the tests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Insurance Board should have amended the policy announced on April 19. However, the insurance companies have not compensated the beneficiaries due to the failure of the board to recognize the tests carried out by private labs.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12176', 'image' => '20200906031626_1599342239.Clipboard09.jpg', 'article_date' => '2020-09-06 15:15:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12428', 'article_category_id' => '1', 'title' => '‘1 Million People Associated with Public Transportation Rendered Jobless’', 'sub_title' => '', 'summary' => 'September 6: The government decided on July 9 to allow public vehicles to operate in short routes within their respective districts after easing the nearly four-months lockdown restriction on transportation.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 6: The government decided on July 9 to allow public vehicles to operate in short routes within their respective districts after easing the nearly four-months lockdown restriction on transportation. The transport entrepreneurs started their business after repairing their vehicles. However, in less than one month, the government imposed prohibitory orders in various districts sending the vehicles back to the garages.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although other countries have gradually resumed public transportation by following safety protocols, Nepal has not prepared any work plan to this end.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Most of the countries have eased the lockdown restrictions but Nepal has only changed the definition of lockdown just like transferring ‘an old wine into a new bottle’. In fact, the prohibitory order seems to be more strict than the lockdown imposed in the initial stage to curb the spread 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:"Arial Unicode MS"">According to the Federation of Nepalese National Transport Entrepreneurs (FNNTE), there are around 300,000 public vehicles and more than 60,000 cargo vehicles registered in Nepal. The federation says around 1 million people have got direct employment from this sector. Around 600,000 drivers and helpers who make a living by earning daily wages are at the receiving end since the last five months due to the closure of this sector, says Yogendra Nath Karmacharya, chairman of FNNTE. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He claimed that more than 1 million persons in this sector have lost their jobs while the government has shown little interest to resume public transportation under the influence of middlemen.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Other countries have gradually reopened public transportation but our government isn’t clear resuming the service here. The government is not serious about the problems faced by the public,” he said. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He said that thousands of people entered Kathmandu in private vehicles by paying heavy price after the government lifted the lockdown more than a month ago. However, the government did not seem concerned about resuming long-distance service by preparing necessary guidelines and regulations.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The government’s concept that coronavirus will spread through black number plate and not the red one is flawed,” he added.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12175', 'image' => '20200906013759_1599341945.1.jpg', 'article_date' => '2020-09-06 13:37:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12427', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Trade Bearing Brunt of Expensive Transshipment Cost ', 'sub_title' => '', 'summary' => 'September 6: Due to the landlocked nature of Nepal, it is estimated that the transshipment cost of Nepal is up to 20 percent higher than other countries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 6: Due to the landlocked nature of Nepal, it is estimated that the transshipment cost of Nepal is up to 20 percent higher than other countries. While the coastal countries limit the cost of transshipment between 5 to 10 percent of the total trade costs, it costs up to 25 percent in Nepal’s foreign trade. Efforts to reduce the cost have not been effective so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Ashok Kumar Temani, chairman of Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), say that foreign trade has not become competitive due to the high transshipment cost. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">“The transshipment cost in countries linked with ocean is 5 to 10 percent of the total trade cost. But, it costs up to a quarter in our country,” he told New Business Age. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Temani believes that the foreign trade has become expensive and lags behind in competition due to the inability to reduce the transportation costs. Under normal circumstances, the cost is around 25 percent in average, and sometimes goes up to 40 percent. That is one of the reasons why Nepalese products are not been able to compete in the international market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Recently, some importers have paid double fare than that of the price of goods. Due to the government decision and procedural delay, the containers carrying peas are stuck in the dry port of Birgunj and now have to pay twice more fare and fine than the price of the goods. Importer Om Prakash Moore says that they have to pay Rs 2.4 million including holding charge and fare for a container of peas which actually costs Rs 1.2 million only. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12174', 'image' => '20200906010325_1599342452.Clipboard12.jpg', 'article_date' => '2020-09-06 13:02:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12426', 'article_category_id' => '1', 'title' => 'Government Grants Permission for First Expedition this Season to Scale Mt Baruntse ', 'sub_title' => '', 'summary' => 'September 6: The Department of Tourism has granted permission for an expedition team to scale Mount Baruntse at a time when tourism activities in the country have come to a complete halt due to Covid-19 pandemic.', 'content' => '<p><em>Mt Baruntse. Photo Courtesy: Seven Summit Treks</em></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 6: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Tourism has granted permission for an expedition team to scale Mount Baruntse at a time when tourism activities in the country have come to a complete halt due to Covid-19 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:"Arial Unicode MS"">The department issued permission to a six-member Nepali team for the first expedition of the season. The department confirmed that the team led by Dawa Steven Sherpa will be the first to scale the 7129 meters peak in the upcoming fall season.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With this decision, the department has opened the door for other expeditions to scale mountains in Nepal, said Meera Acharya, director of the Department of Tourism.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Bahrain’s prince Nasir Bin Hamad Al Khalifa will visit Nepal for an expedition after September 15. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The prince, who is also the commander of Bahrain Army, will lead an 18-member expedition team which also includes three Britishers. Prince Khalifa’s team will remain in Nepal for two 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:"Arial Unicode MS"">The Council of Ministers approved the team to visit Nepal on a chartered flight upon the recommendation of Tourism Minister Yogesh Bhattarai a few days ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The team from Bahrain will be accompanied by Seven Summit Treks. The team will first scale Lobuche (6119) and then Manaslu (8163). The team is planning to return next year to scale Everest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, stakeholders say the visit of a VIP for expedition is a positive step for the tourism industry of Nepal which is badly affected by Covid-19 crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This expedition is expected to draw the attention of the world and provide some relief to the industry, says General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung.</span></span></span></span></p> <p> </p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12173', 'image' => '20200906115928_0329255f8dbb13d28ed16e844b6efa3c.jpg', 'article_date' => '2020-09-06 11:58:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12425', 'article_category_id' => '1', 'title' => 'World Bank Provides Additional Grant of US$10.85 Million to Nepal', 'sub_title' => 'The Fund will be Utilized to Support Learning and Build Resilient Education Sector in Nepal amid COVID-19 crisis', 'summary' => 'September 6: The Government of Nepal and the World Bank recently signed a financing agreement for an additional grant of US$10.85 million to the School Sector Development Program (SSDP)', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 6: The Government of Nepal and the World Bank recently signed a financing agreement for an additional grant of US$10.85 million to the School Sector Development Program (SSDP) to maintain access to basic education and continued learning for children amid the COVID-19 crisis. </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 program aims to improve the quality, equitable access, and efficiency of basic and secondary education in 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"> The World Bank says that the additional grant from the Global Partnership for Education (GPE) COVID-19 Accelerated Funds will contribute to the implementation of the Ministry of Education, Science and Technology’s COVID-19 contingency plan </span></span><span style="font-size:14.0pt"><span style="font-family:Times">to mitigate and respond to the potential impacts of the pandemic on the education sector</span></span><span style="font-size:14.0pt"><span style="font-family:Times">.</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 agreement was signed by the Joint Secretary of the Ministry of Finance, Shree Krishna Nepal on behalf of the Government of Nepal and by the World Bank Country Director for the Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos amid a function on September 4.</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"> “We are thankful to the World Bank and GPE for the additional grant that will help mitigate learning loss for children due to the impact of COVID-19,” the statement quoted Joint Secretary Nepal as saying. </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">“</span></span><span style="font-size:14.0pt"><span style="font-family:Times">The grant provides much needed support to the government to </span></span><span style="font-size:14.0pt"><span style="font-family:Times">respond to the impacts of the pandemic</span></span><span style="font-size:14.0pt"><span style="font-family:Times"> to enable continuity of learning </span></span><span style="font-size:14.0pt"><span style="font-family:Times">during school closures, enable schools to safely resume and mitigate the impacts on students and teachers, including loss of learning time and psychosocial impacts.” </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 additional grant will finance activities to support remote learning programs through television, radio and the learning portal as well as printed learning packs for children who do not have access to media or internet, the statement further said. </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 grant will support communication campaigns and teacher professional development programs and help strengthen the Education Management Information Systems. The grant will also support provincial and local governments to support safe reopening of schools and continued learning of children.</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 education sector in Nepal and across the world has been one of the hardest hit owing to the pandemic which has deeply affected learning outcomes for children,” stated Hadad-Zervos, World Bank Country Director for the Maldives, Nepal and Sri Lanka.</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"> “While supporting the immediate needs for safeguarding access and learning for children, especially girls, the additional grant will support the broader resilient recovery efforts of the government and help build back better the education sector in 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">The SSDP is a sector-wide program supported by IDA credit of US$185 million, together with support from Asian Development Bank, European Union, Finland, Global Partnership for Education (GPE), Japan International Cooperation Agency, Norway, USAID, UNICEF and REACH Multi-Donor Trust Fund administered by the World Bank. </span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-09-06%20at%2011.27.56%20AM.png" style="height:408px; width:537px" /></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> <em>Source: World Bank</em></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12172', 'image' => '20200906112737_My Effect.jpg', 'article_date' => '2020-09-06 11:25:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12424', 'article_category_id' => '1', 'title' => 'Banks Paying Tens of Millions for Safeguarding Loans and Deposits', 'sub_title' => '', 'summary' => 'September 4: Banks and financial institutions (BFIs) have been paying tens of millions of rupees every year for the insurance of their loans and deposits. ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 4: Banks and financial institutions (BFIs) have been paying tens of millions of rupees every year for the insurance of their loans and deposits. In the last fiscal year alone, 72 banks and finance companies paid around Rs 1.61 billion to the Deposits and Credit Guarantee Fund for the risk management of their deposits and loans. Banks had paid Rs 1,058,000,000 for the protection of their deposits and Rs. 552,500,000 for the protection of their loans. The fund has been investing the collected fees in government bonds and term deposits of commercial banks.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Deposits of banks and finance companies haven’t declined by much despite the coronavirus pandemic. This is also the reason for the Deposits and Credit Guarantee Fund to be able to collect Rs 286.4 million for the protection of deposits of banks and finance companies in the first month of the current fiscal year. Chief Executive Officer of the Fund, Bishnu Babu Mishra, says that the Fund aims to raise the amount collected for the protection of deposits. According to him, the Fund has an estimated target of raising Rs 1,145,700,000 from the banks for the protection of their deposits in the current fiscal year 2077/78.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund collects the fee every 3 months (that is 4 times a year) for the insurance of all kinds of deposits made by the depositors. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“As per the Deposit Protection Regulations 2075, the Fund charges an annual fee of 0.16 percent i.e. a monthly fee of 0.04 percent of the total deposits for the protecting the deposits,” he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund determines the fee for the protection of loans in accordance to the regulations. The regulations have a provision for banks to pay 1 percent of the remaining principal and the interest amount to the Fund as the loan protection fee. CEO Mishra informed that the banks are not permitted to collect this money from the customers by charging them with a separate heading of “deposits and loan protection”.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">According to the Fund, a sum of Rs 713 billion has been protected from the 26,664,000 depositors of different banks and finance companies till date. In addition, loan of around Rs billion taken by 899,000 debtors has been protected by the Fund. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund invests the fees accumulated from the banks and finance companies in commercial banks. Even though the Fund is allowed to invest in government bonds, they have mostly been investing entirely in commercial banks. As per the Investment Regulation 2074, investment in only the term deposits or call deposits of banks that have been in profit for a consecutive 5 years is permitted. The single or multiple deposits made in a bank’s term deposit account should not exceed 20 percent of the bank’s paid-up capital or the Fund’s total investment. The Fund can not deposit an amount less than Rs 50,000,000 or more than Rs 1 billion , in the term account of a bank in one transaction. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12171', 'image' => '20200904034517_bank.jpg', 'article_date' => '2020-09-04 15:44:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12423', 'article_category_id' => '1', 'title' => 'Nepal-Bound Goods From China Stuck at Border Points', 'sub_title' => '', 'summary' => 'September 4: With the festive season just around the corner, Nepal-bound goods have been stranded in the northern border points of Tatopani and Rasuwagadhi.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">September 4: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the festive season just around the corner, Nepal-bound goods have been stranded in the northern border points of Tatopani and Rasuwagadhi. There is high demand for readymade garments during the Dashain festival, which falls in mid-October this year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">According to the Customs Department, the Tatopani transit point is closed since the last two months due to landslides while the Rasuwagadhi border hasn’t come into operation after the workers involved in loading goods there were diagnosed with Covid-19. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Director of the Customs Department, Sishir Ghimire, says that operating the customs points with China was always challenging due to the difficult topography. In addition to this, they are now facing the problems of natural calamity and Covid-19 pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chief of the Rasuwagadhi Customs Office Punya Bikram Khadka sys that they are unable to resume service from the customs point after detection of virus among the workers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Other workers are currently placed in quarantine and their swab samples have been collected. It is not possible to reopen the border until we get the report,” said Khadka.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He says that his Chinese counterpart has decided to release the goods only after getting the PCR reports of the drivers, and other staffers involved in unloading goods at the customs points.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">More that 30 containers are currently stranded at the customs points. Customs chief Khadka says they are making efforts to reopen the border as soon as possible because a large quantity of goods are imported during this season for the Dashain festival. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12170', 'image' => '20200904025150_1599171108.Clipboard04.jpg', 'article_date' => '2020-09-04 14:51:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12422', 'article_category_id' => '1', 'title' => 'Collection of Insurance Premium Increased after Lockdown was Lifted ', 'sub_title' => '', 'summary' => 'September 4: Despite the coronavirus pandemic, life insurance companies have collected above average premium in July/August. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 4: Despite the coronavirus pandemic, life insurance companies have collected above average premium in July/August. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The average monthly premium collection of all 19 insurance companies of Nepal is Rs 7.75 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The preliminary data of Insurance Board Nepal shows that the total premium collection in July/August was above average. The total amount collected by the insurance companies during the review month stood at Rs 10.14 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Nepal Life Insurance Company is ahead in terms of premium collection. The company collected Rs 3.97 billion premium in July/August. Likewise, National Life Insurance Company collected Rs 1.6 billion and NLIC collected Rs 1.5 billion premium during the same period. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The four-month lockdown that was imposed in March 24 to control the spread of coronavirus affected life insurance businesses. Since the renewal of old insurance policy is done in April, May and June, the insurance business grows during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">As the fiscal year ends in June/July, the premium collection in the month is higher than other months. However, due to the lockdown, it was not easy for the insurance businesses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">After the lockdown was eased in June, the life insurance companies were back in business. The premium collection in June was Rs 24 billon, which is higher than average. The premium collection was higher as the companies and insurance agents were active after the lockdown was lifted. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">CEO of Union Life Insurance Company, Manoj Kumar Lal Karna informed that with the impact of June, the collection of insurance premiums has also increased in July. “There was no lockdown in July and so the agents could go to the field and work,” he said, adding, “As a result, the insurance premium increased in July.” </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12169', 'image' => '20200904021424_1599171150.Clipboard05.jpg', 'article_date' => '2020-09-04 14:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12421', 'article_category_id' => '1', 'title' => 'Tender Evaluation of East-West Highway Faces Technical Glitch', 'sub_title' => '', 'summary' => 'September 4: The tender evaluation process of Kakarbhitta-Inaruwa section of the contentious East-West Railway has been halted due to technical problems in downloading the documents registered through electronic bidding method.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 4: The tender evaluation process of Kakarbhitta-Inaruwa section of the contentious East-West Railway has been halted due to technical problems in downloading the documents registered through electronic bidding method.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The concerned authorities are unable to evaluate the documents since the last three weeks.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Issuing a notice on August 26, the Public Procurement Monitoring Office (PPMO) said that the procurement process has been halted because of their failure to download the documents since last month.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Coincidently, Patan High Court had ordered the PPMO to move ahead with the tender process the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Department of Railways was preparing to evaluate 120 proposals for the construction of the 106-kilometer long track-bed along the section. But the process has remained on hold ever since the problem surfaced.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Director General of the Department of Railways, Balaram Mishra, informed that although they were preparing to evaluate the proposals after the high court’s ruling, they were unable to do so due to the problem in downloading the documents.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson of PPMO Sushil Dhakal says they are making efforts to resolve the problem but did not specify the exact time they will be able to sort out the issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, the inordinate delay has cast doubts about the intention of the concerned government bodies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has been accused of trying to award the contract worth Rs 28 billion to selected contractors. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12168', 'image' => '20200904124847_1599170858.Clipboard03.jpg', 'article_date' => '2020-09-04 12:48:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12420', 'article_category_id' => '1', 'title' => 'NCP Selects Vice Chairman Gautam over Finance Minister Khatiwada', 'sub_title' => '', 'summary' => 'September 4: The ruling Nepal Communist Party (NCP) has decided to recommend the party’s vice chairman Bamdev Gautam for the vacant position of National Assembly member to be nominated by the president.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 4: The ruling Nepal Communist Party (NCP) has decided to recommend the party’s vice chairman Bamdev Gautam for the vacant position of National Assembly member to be nominated by the president.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Prime Minister KP Sharma Oli was in favour of nominating Finance Minister Yuba Raj Khatiwada for another term but he was under mounting pressure to recommend Gautam for the post to maintain internal balance and cordial relation within the party.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NCP Spokesperson Narayan Kaji Shrestha confirmed that the secretariat meeting of the party held at PM’s official residence in Baluwatar on Thursday (September 3) decided to recommend Gautam’s name.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Khatiwada has to be re-appointed as member of the upper house of parliament to continue as finance minister after September 5. However, Khatiwada’s chances of continuing his office as the finance minister has been all but ended with the party’s decision to choose Gautam.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">However, Khatiwada still has slim chances of remaining in office provided that the party orders any one of the two nominated MPs to resign for re-appointing Khatiwada. However, the secretariat meeting on Thursday did not discuss this issue, informed party spokesperson Shrestha.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The secretariat meeting had decided to recommend Gautam’s name six months ago. But the party had courted controversy for not implementing the decision. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Khatiwada’s first term in office had ended on March 3 but he got nominated as upper house member by the president six months ago upon PM Oli’s recommendation. Without being a member of parliament, Khatiwada cannot continue as finance minister. He current holds the portfolio of Communication and Information Minister as well.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12167', 'image' => '20200904113647_20191022025030_20190927045330__MG_7700.JPG', 'article_date' => '2020-09-04 11:36:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12419', 'article_category_id' => '1', 'title' => 'Industries Struggling due to Prohibitory Order', 'sub_title' => '', 'summary' => 'September 3: The government has given high priority to essential goods and services during the prohibitory period as well as lockdown period. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 3: The government has given high priority to essential goods and services during the prohibitory period as well as lockdown period. Soon after imposing lockdown on March 24, the government had pledged to facilitate in reopening factories that produce essential goods. However, the production and supply of such essential goods have become problematic after the district administration offices in various districts issued prohibitory orders to contain the spread 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:"Arial Unicode MS"">Industrialists complain that operating their factories has become uncertain because of the strict measures adopted by government authorities. Even the production of food and medicines has been badly affected by the prohibitory orders issued by more than 50 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:"Arial Unicode MS"">Pharmaceutical companies in the Bara-Parsa Industrial Corridor have been closed since one week after the local administration ordered quarantine facility for workers within the industry. Factories producing food are also operating with minimum work force.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Low production is likely to disrupt the supply chain, warns Subodh Gupta, senior vice president of Birgunj Chamber of Commerce. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Chief District Officer of Parsa Asman Tamang says that they believe the industrial sector as the source of community transmission of coronavirus in the region.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Soon after the lockdown was lifted about a month ago, Indian workers employed in the industries tested positive for coronavirus, says Tamang. Therefore, they took precautionary measures to stop the disease from spreading.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12166', 'image' => '20200903060551_20200830020949_1598735616.2.jpg', 'article_date' => '2020-09-03 18:04:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 7: Industries in the Bara-Parsa Corridor have started reducing the number of workers as their production has shrunk due to the lockdown and restriction. </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">Stating that their production has been affected due to the four-month-long lockdown and the ongoing nationwide prohibitory order, the entrepreneurs have been firing their factory workers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Labor and Employment Office, Parsa, more than half a dozen industries in the industrial corridor have sent information regarding labor cuts. The labor office also informed that an industry in Birgunj laid off all of its workers on Sunday (September 6) alone.</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">Sundar Shrestha, chief of the Labor and Employment Office, informed that most of the industries have laid off their workers.</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">“Most of the industries in the corridor have been found to have laid off their workers unofficially, and only a limited number of industries have informed about it to the labor office,” Shrestha said.</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 say that they have been removing workers on mutual understanding. However, the industries have not informed about the decision to the labor office.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">According to the Labor Act, industries are subjected to inform about the reduction of work force to the Labor Office. Workers kept in reserve should be paid half salary according to the act.</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 the case of labor deduction, the provision of the labor act mandates industries to pay annual salary as compensation to the worker. Likewise, the worker should be informed of their termination one month in advance.</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">It is estimated that more than around 100,000 workers are working in 1,000 industries in the industrial corridor. According to the industrialists, 35 to 40 percent of them have lost their jobs due to the inconvenience caused by the COVID-19.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12180', 'image' => '20200907020811_1599429995.Clipboard02.jpg', 'article_date' => '2020-09-07 14:07:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12432', 'article_category_id' => '1', 'title' => 'Government Terminates Contracts with 2 Companies for Failing to Supply Fertilizers', 'sub_title' => '', 'summary' => 'September 7: The government has terminated the contracts of two companies – Sailung Enterprises and Honiko Multiple Private Limited – for failing to supply chemical fertilizers on time.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 7: The government has terminated the contracts of two companies – Sailung Enterprises and Honiko Multiple Private Limited – for failing to supply chemical fertilizers on time. Besides scrapping the contracts, the government has also confiscated the deposits of the two companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned Agriculture Inputs Company Limited (Krishi Samagri Company Limited) had signed separate contracts with the two companies for the supply of 25,000 metric tons of urea each.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the agreement, both the companies should have supplied the fertilizers within September 5. But the two private companies have not been able to assure the government-owned company about supplying the fertilizers anytime soon, leading to the termination of the contracts.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">More than Rs 90 million deposit of the two companies have also been confiscated 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:"Arial Unicode MS"">“We had to take action against the two companies because they were careless despite having adequate time. Therefore we had to terminate the contracts. Their deposits have also been freezed,” said Minister for Agriculture and Livestock Development Ghanashyam Bhusal during a press conference organised at the ministry on Sunday (September 6). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The state-owned company had signed the agreement with Sailung Enterprises on April 24 and with Honiko on April 27. As per the initial agreement, the two companies should have imported the fertilizers within July 23. The government later extended the deadline by 25 days upon the request of the two companies. Minister Bhusal said that the contracts were terminated after the companies failed to supply the fertilizers even after the extended deadline.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sailung Enterprises is owned by Sharada Prasad Adhikari, who is the landlord of Nepal Communist Party Co-chairman Pushpa Kalal Dahal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to Agriculture Inputs Company Limited, the two companies could not furnish any details about the shipment or the vessels used to import the fertilizers despite repeated follow ups.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12179', 'image' => '20200907122502_597613093.Clipboard02.jpg', 'article_date' => '2020-09-07 12:24:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12431', 'article_category_id' => '1', 'title' => 'Internal Flights to Mountain and Hill Districts to Resume from September 17 ', 'sub_title' => '', 'summary' => 'September 7: The government is preparing to resume air service in mountainous and hill districts from September 17. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 7: The government is preparing to resume air service in mountainous and hill districts from September 17. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the government is preparing to resume domestic flights to those districts that have reported few cases 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:"Arial Unicode MS"">Earlier, the government had announced to resume air service from September 1 but that decision was put on hold after the capital and several other districts reported a rapid increase in Covid-19 cases.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Speaking at an interaction with stakeholders regarding the reopening of tourism industry by following safety protocols, Minister Bhattarai reaffirmed that air service will resume from September 17. Meanwhile, the government is preparing to increase the number of international flights after analyzing the current flights for a few days. The government had lifted restriction on international flights from September 1.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai further said that the government as formed a team comprising officials from the Department of Tourism and the Nepal Tourism Board to study the international practice of safe handling of 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:"Arial Unicode MS"">“Some vital decisions will be taken after completion of the study,” said Minister Bhattarai.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister Bhattarai further said that he is in favour of gradually reopening the tourism industry by maintaining safety standards. The ministry is preparing to submit a proposal to the cabinet in this regard, informed the minister.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-07', 'modified' => '2020-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '12178', 'image' => '20200907105804_1599443855.Clipboard12.jpg', 'article_date' => '2020-09-07 10:57:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12430', 'article_category_id' => '1', 'title' => 'Work Procedure for Concessional Loans to Startups Presented to Cabinet', 'sub_title' => '', 'summary' => 'September 6: The government has presented a proposal to the cabinet for amending the work procedure to provide 2 percent concessional loan to start-ups.', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">September 6: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">The government has presented a proposal to the cabinet for amending the work procedure to provide 2 percent concessional loan to start-ups.</span></span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The National Planning Commission has submitted a proposal to the Council of Ministers after changing provision of grants into loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">According to the commission, a decision will be taken soon since the proposal has been taken to the Council of Ministers through the Ministry of Finance. A total of 699 proposals for seed money will be finalized after decision. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">People, who were interested in the latest works of information technology, agriculture, energy, health, tourism, and industry had applied for the loan in mid-May.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The call for proposals was open from May 11 to June 9. In case of loans for startup businesses, the amended work procedure allows a maximum loan of 50 percent of the required capital, which can range from Rs 1 million to Rs 10 million. An individual or a firm were not allowed to submit a proposal for multiple loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">A person or a firm can get a maximum loan of Rs 5 million at 2 percent interest rate if they wish to undertake a venture of Rs 10 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The proposal needs to have clear information about the business plan along with the status of the self-investment of the entrepreneur, the amount they have demanded from the Government of Nepal and any of their other investment partnerships. The commission hasn’t accepted any further applications because of the lockdown.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The commission said that 15 days will be given to submit the proposals after the Council of Ministers pass the work procedure. The government had initially envisioned a ‘Challenge Fund’ to provide grant up to 50 percent of the capital requirement in order to encourage young entrepreneurs to start new businesses. Although the government had announced such provision during the budget of last fiscal year, the program could not be implemented. The government has given continuity to the program by changing the modality into concessional loan in this year’s budget instead of grant.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The revised work procedure has been made by including the advices from the ministries of finance, industry and education. Dr Ram Kumar Phuyal, a member of the National Planning Commission, says that a high-level committee will recommend the loans to those who meet the criteria as stated in the amended work procedure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">The committee will have the right to select and recommend the entrepreneurs, whom they think will develop high-quality inventions and systems is less time, cost and resources. According to Phuyal, the committee will also be responsible to check if the loans are being used in the right way. The committee will also be responsible for the monitoring of entrepreneurs, businessmen or institutions that have received the loan. A steering committee has been formed under the coordination of a member appointed by the National Planning Commission for the provision of loans. The committee will also have a joint secretary each from the ministries of finance; industry, commerce and supplies; and education as its members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt"><span style="font-family:Arial">A representative of banks has also been included in the committee for the selection of recipients of the loan. An official from the commission said that a representative of banks was not selected previously as the work procedure was earlier concerned with grants. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12177', 'image' => '20200906035436_MOF.jpg', 'article_date' => '2020-09-06 15:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12429', 'article_category_id' => '1', 'title' => 'Insurance Board Fails to Recognize PCR Tests Conducted by Private Labs', 'sub_title' => '', 'summary' => 'September 6: The Insurance Board has been dragged into controversy for not recognizing the report of PCR tests carried out by private labs at a time when Covid-19 cases are rising.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 6: The Insurance Board has been dragged into controversy for not recognizing the report of PCR tests carried out by private labs at a time when Covid-19 cases are rising.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">There is a provision for compensating a person who tests positive for coronavirus if the infected person makes insurance claims. However, the board has courted controversy after it said that it recognizes only the tests conducted by government labs. Following the decision of the board, insurance companies have stopped compensating the claimants. The individuals who have purchased insurance policy have not been able to benefit from the policy.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance policy announced on April 19 states that the individual can claim for compensation by presenting report of PCR test conducted at government labs. At that time, the government had not given permission to private labs to conduct PCR tests. But currently 13 private labs are providing the service after the government gave them permission to conduct the tests.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Insurance Board should have amended the policy announced on April 19. However, the insurance companies have not compensated the beneficiaries due to the failure of the board to recognize the tests carried out by private labs.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12176', 'image' => '20200906031626_1599342239.Clipboard09.jpg', 'article_date' => '2020-09-06 15:15:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12428', 'article_category_id' => '1', 'title' => '‘1 Million People Associated with Public Transportation Rendered Jobless’', 'sub_title' => '', 'summary' => 'September 6: The government decided on July 9 to allow public vehicles to operate in short routes within their respective districts after easing the nearly four-months lockdown restriction on transportation.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 6: The government decided on July 9 to allow public vehicles to operate in short routes within their respective districts after easing the nearly four-months lockdown restriction on transportation. The transport entrepreneurs started their business after repairing their vehicles. However, in less than one month, the government imposed prohibitory orders in various districts sending the vehicles back to the garages.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although other countries have gradually resumed public transportation by following safety protocols, Nepal has not prepared any work plan to this end.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Most of the countries have eased the lockdown restrictions but Nepal has only changed the definition of lockdown just like transferring ‘an old wine into a new bottle’. In fact, the prohibitory order seems to be more strict than the lockdown imposed in the initial stage to curb the spread 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:"Arial Unicode MS"">According to the Federation of Nepalese National Transport Entrepreneurs (FNNTE), there are around 300,000 public vehicles and more than 60,000 cargo vehicles registered in Nepal. The federation says around 1 million people have got direct employment from this sector. Around 600,000 drivers and helpers who make a living by earning daily wages are at the receiving end since the last five months due to the closure of this sector, says Yogendra Nath Karmacharya, chairman of FNNTE. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He claimed that more than 1 million persons in this sector have lost their jobs while the government has shown little interest to resume public transportation under the influence of middlemen.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Other countries have gradually reopened public transportation but our government isn’t clear resuming the service here. The government is not serious about the problems faced by the public,” he said. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He said that thousands of people entered Kathmandu in private vehicles by paying heavy price after the government lifted the lockdown more than a month ago. However, the government did not seem concerned about resuming long-distance service by preparing necessary guidelines and regulations.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The government’s concept that coronavirus will spread through black number plate and not the red one is flawed,” he added.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12175', 'image' => '20200906013759_1599341945.1.jpg', 'article_date' => '2020-09-06 13:37:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12427', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Trade Bearing Brunt of Expensive Transshipment Cost ', 'sub_title' => '', 'summary' => 'September 6: Due to the landlocked nature of Nepal, it is estimated that the transshipment cost of Nepal is up to 20 percent higher than other countries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 6: Due to the landlocked nature of Nepal, it is estimated that the transshipment cost of Nepal is up to 20 percent higher than other countries. While the coastal countries limit the cost of transshipment between 5 to 10 percent of the total trade costs, it costs up to 25 percent in Nepal’s foreign trade. Efforts to reduce the cost have not been effective so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Ashok Kumar Temani, chairman of Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), say that foreign trade has not become competitive due to the high transshipment cost. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">“The transshipment cost in countries linked with ocean is 5 to 10 percent of the total trade cost. But, it costs up to a quarter in our country,” he told New Business Age. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Temani believes that the foreign trade has become expensive and lags behind in competition due to the inability to reduce the transportation costs. Under normal circumstances, the cost is around 25 percent in average, and sometimes goes up to 40 percent. That is one of the reasons why Nepalese products are not been able to compete in the international market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Recently, some importers have paid double fare than that of the price of goods. Due to the government decision and procedural delay, the containers carrying peas are stuck in the dry port of Birgunj and now have to pay twice more fare and fine than the price of the goods. Importer Om Prakash Moore says that they have to pay Rs 2.4 million including holding charge and fare for a container of peas which actually costs Rs 1.2 million only. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12174', 'image' => '20200906010325_1599342452.Clipboard12.jpg', 'article_date' => '2020-09-06 13:02:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12426', 'article_category_id' => '1', 'title' => 'Government Grants Permission for First Expedition this Season to Scale Mt Baruntse ', 'sub_title' => '', 'summary' => 'September 6: The Department of Tourism has granted permission for an expedition team to scale Mount Baruntse at a time when tourism activities in the country have come to a complete halt due to Covid-19 pandemic.', 'content' => '<p><em>Mt Baruntse. Photo Courtesy: Seven Summit Treks</em></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">September 6: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Department of Tourism has granted permission for an expedition team to scale Mount Baruntse at a time when tourism activities in the country have come to a complete halt due to Covid-19 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:"Arial Unicode MS"">The department issued permission to a six-member Nepali team for the first expedition of the season. The department confirmed that the team led by Dawa Steven Sherpa will be the first to scale the 7129 meters peak in the upcoming fall season.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With this decision, the department has opened the door for other expeditions to scale mountains in Nepal, said Meera Acharya, director of the Department of Tourism.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Bahrain’s prince Nasir Bin Hamad Al Khalifa will visit Nepal for an expedition after September 15. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The prince, who is also the commander of Bahrain Army, will lead an 18-member expedition team which also includes three Britishers. Prince Khalifa’s team will remain in Nepal for two 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:"Arial Unicode MS"">The Council of Ministers approved the team to visit Nepal on a chartered flight upon the recommendation of Tourism Minister Yogesh Bhattarai a few days ago.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The team from Bahrain will be accompanied by Seven Summit Treks. The team will first scale Lobuche (6119) and then Manaslu (8163). The team is planning to return next year to scale Everest.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, stakeholders say the visit of a VIP for expedition is a positive step for the tourism industry of Nepal which is badly affected by Covid-19 crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">This expedition is expected to draw the attention of the world and provide some relief to the industry, says General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung.</span></span></span></span></p> <p> </p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12173', 'image' => '20200906115928_0329255f8dbb13d28ed16e844b6efa3c.jpg', 'article_date' => '2020-09-06 11:58:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12425', 'article_category_id' => '1', 'title' => 'World Bank Provides Additional Grant of US$10.85 Million to Nepal', 'sub_title' => 'The Fund will be Utilized to Support Learning and Build Resilient Education Sector in Nepal amid COVID-19 crisis', 'summary' => 'September 6: The Government of Nepal and the World Bank recently signed a financing agreement for an additional grant of US$10.85 million to the School Sector Development Program (SSDP)', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">September 6: The Government of Nepal and the World Bank recently signed a financing agreement for an additional grant of US$10.85 million to the School Sector Development Program (SSDP) to maintain access to basic education and continued learning for children amid the COVID-19 crisis. </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 program aims to improve the quality, equitable access, and efficiency of basic and secondary education in 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"> The World Bank says that the additional grant from the Global Partnership for Education (GPE) COVID-19 Accelerated Funds will contribute to the implementation of the Ministry of Education, Science and Technology’s COVID-19 contingency plan </span></span><span style="font-size:14.0pt"><span style="font-family:Times">to mitigate and respond to the potential impacts of the pandemic on the education sector</span></span><span style="font-size:14.0pt"><span style="font-family:Times">.</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 agreement was signed by the Joint Secretary of the Ministry of Finance, Shree Krishna Nepal on behalf of the Government of Nepal and by the World Bank Country Director for the Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos amid a function on September 4.</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"> “We are thankful to the World Bank and GPE for the additional grant that will help mitigate learning loss for children due to the impact of COVID-19,” the statement quoted Joint Secretary Nepal as saying. </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">“</span></span><span style="font-size:14.0pt"><span style="font-family:Times">The grant provides much needed support to the government to </span></span><span style="font-size:14.0pt"><span style="font-family:Times">respond to the impacts of the pandemic</span></span><span style="font-size:14.0pt"><span style="font-family:Times"> to enable continuity of learning </span></span><span style="font-size:14.0pt"><span style="font-family:Times">during school closures, enable schools to safely resume and mitigate the impacts on students and teachers, including loss of learning time and psychosocial impacts.” </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 additional grant will finance activities to support remote learning programs through television, radio and the learning portal as well as printed learning packs for children who do not have access to media or internet, the statement further said. </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 grant will support communication campaigns and teacher professional development programs and help strengthen the Education Management Information Systems. The grant will also support provincial and local governments to support safe reopening of schools and continued learning of children.</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 education sector in Nepal and across the world has been one of the hardest hit owing to the pandemic which has deeply affected learning outcomes for children,” stated Hadad-Zervos, World Bank Country Director for the Maldives, Nepal and Sri Lanka.</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"> “While supporting the immediate needs for safeguarding access and learning for children, especially girls, the additional grant will support the broader resilient recovery efforts of the government and help build back better the education sector in 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">The SSDP is a sector-wide program supported by IDA credit of US$185 million, together with support from Asian Development Bank, European Union, Finland, Global Partnership for Education (GPE), Japan International Cooperation Agency, Norway, USAID, UNICEF and REACH Multi-Donor Trust Fund administered by the World Bank. </span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/Screen%20Shot%202020-09-06%20at%2011.27.56%20AM.png" style="height:408px; width:537px" /></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> <em>Source: World Bank</em></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-06', 'modified' => '2020-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '12172', 'image' => '20200906112737_My Effect.jpg', 'article_date' => '2020-09-06 11:25:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12424', 'article_category_id' => '1', 'title' => 'Banks Paying Tens of Millions for Safeguarding Loans and Deposits', 'sub_title' => '', 'summary' => 'September 4: Banks and financial institutions (BFIs) have been paying tens of millions of rupees every year for the insurance of their loans and deposits. ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 4: Banks and financial institutions (BFIs) have been paying tens of millions of rupees every year for the insurance of their loans and deposits. In the last fiscal year alone, 72 banks and finance companies paid around Rs 1.61 billion to the Deposits and Credit Guarantee Fund for the risk management of their deposits and loans. Banks had paid Rs 1,058,000,000 for the protection of their deposits and Rs. 552,500,000 for the protection of their loans. The fund has been investing the collected fees in government bonds and term deposits of commercial banks.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Deposits of banks and finance companies haven’t declined by much despite the coronavirus pandemic. This is also the reason for the Deposits and Credit Guarantee Fund to be able to collect Rs 286.4 million for the protection of deposits of banks and finance companies in the first month of the current fiscal year. Chief Executive Officer of the Fund, Bishnu Babu Mishra, says that the Fund aims to raise the amount collected for the protection of deposits. According to him, the Fund has an estimated target of raising Rs 1,145,700,000 from the banks for the protection of their deposits in the current fiscal year 2077/78.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund collects the fee every 3 months (that is 4 times a year) for the insurance of all kinds of deposits made by the depositors. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“As per the Deposit Protection Regulations 2075, the Fund charges an annual fee of 0.16 percent i.e. a monthly fee of 0.04 percent of the total deposits for the protecting the deposits,” he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund determines the fee for the protection of loans in accordance to the regulations. The regulations have a provision for banks to pay 1 percent of the remaining principal and the interest amount to the Fund as the loan protection fee. CEO Mishra informed that the banks are not permitted to collect this money from the customers by charging them with a separate heading of “deposits and loan protection”.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">According to the Fund, a sum of Rs 713 billion has been protected from the 26,664,000 depositors of different banks and finance companies till date. In addition, loan of around Rs billion taken by 899,000 debtors has been protected by the Fund. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Fund invests the fees accumulated from the banks and finance companies in commercial banks. Even though the Fund is allowed to invest in government bonds, they have mostly been investing entirely in commercial banks. As per the Investment Regulation 2074, investment in only the term deposits or call deposits of banks that have been in profit for a consecutive 5 years is permitted. The single or multiple deposits made in a bank’s term deposit account should not exceed 20 percent of the bank’s paid-up capital or the Fund’s total investment. The Fund can not deposit an amount less than Rs 50,000,000 or more than Rs 1 billion , in the term account of a bank in one transaction. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12171', 'image' => '20200904034517_bank.jpg', 'article_date' => '2020-09-04 15:44:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12423', 'article_category_id' => '1', 'title' => 'Nepal-Bound Goods From China Stuck at Border Points', 'sub_title' => '', 'summary' => 'September 4: With the festive season just around the corner, Nepal-bound goods have been stranded in the northern border points of Tatopani and Rasuwagadhi.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">September 4: </span></span><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">With the festive season just around the corner, Nepal-bound goods have been stranded in the northern border points of Tatopani and Rasuwagadhi. There is high demand for readymade garments during the Dashain festival, which falls in mid-October this year.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">According to the Customs Department, the Tatopani transit point is closed since the last two months due to landslides while the Rasuwagadhi border hasn’t come into operation after the workers involved in loading goods there were diagnosed with Covid-19. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Director of the Customs Department, Sishir Ghimire, says that operating the customs points with China was always challenging due to the difficult topography. In addition to this, they are now facing the problems of natural calamity and Covid-19 pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Chief of the Rasuwagadhi Customs Office Punya Bikram Khadka sys that they are unable to resume service from the customs point after detection of virus among the workers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“Other workers are currently placed in quarantine and their swab samples have been collected. It is not possible to reopen the border until we get the report,” said Khadka.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He says that his Chinese counterpart has decided to release the goods only after getting the PCR reports of the drivers, and other staffers involved in unloading goods at the customs points.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">More that 30 containers are currently stranded at the customs points. Customs chief Khadka says they are making efforts to reopen the border as soon as possible because a large quantity of goods are imported during this season for the Dashain festival. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12170', 'image' => '20200904025150_1599171108.Clipboard04.jpg', 'article_date' => '2020-09-04 14:51:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12422', 'article_category_id' => '1', 'title' => 'Collection of Insurance Premium Increased after Lockdown was Lifted ', 'sub_title' => '', 'summary' => 'September 4: Despite the coronavirus pandemic, life insurance companies have collected above average premium in July/August. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">September 4: Despite the coronavirus pandemic, life insurance companies have collected above average premium in July/August. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The average monthly premium collection of all 19 insurance companies of Nepal is Rs 7.75 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The preliminary data of Insurance Board Nepal shows that the total premium collection in July/August was above average. The total amount collected by the insurance companies during the review month stood at Rs 10.14 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Nepal Life Insurance Company is ahead in terms of premium collection. The company collected Rs 3.97 billion premium in July/August. Likewise, National Life Insurance Company collected Rs 1.6 billion and NLIC collected Rs 1.5 billion premium during the same period. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The four-month lockdown that was imposed in March 24 to control the spread of coronavirus affected life insurance businesses. Since the renewal of old insurance policy is done in April, May and June, the insurance business grows during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">As the fiscal year ends in June/July, the premium collection in the month is higher than other months. However, due to the lockdown, it was not easy for the insurance businesses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">After the lockdown was eased in June, the life insurance companies were back in business. The premium collection in June was Rs 24 billon, which is higher than average. The premium collection was higher as the companies and insurance agents were active after the lockdown was lifted. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">CEO of Union Life Insurance Company, Manoj Kumar Lal Karna informed that with the impact of June, the collection of insurance premiums has also increased in July. “There was no lockdown in July and so the agents could go to the field and work,” he said, adding, “As a result, the insurance premium increased in July.” </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12169', 'image' => '20200904021424_1599171150.Clipboard05.jpg', 'article_date' => '2020-09-04 14:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12421', 'article_category_id' => '1', 'title' => 'Tender Evaluation of East-West Highway Faces Technical Glitch', 'sub_title' => '', 'summary' => 'September 4: The tender evaluation process of Kakarbhitta-Inaruwa section of the contentious East-West Railway has been halted due to technical problems in downloading the documents registered through electronic bidding method.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 4: The tender evaluation process of Kakarbhitta-Inaruwa section of the contentious East-West Railway has been halted due to technical problems in downloading the documents registered through electronic bidding method.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The concerned authorities are unable to evaluate the documents since the last three weeks.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Issuing a notice on August 26, the Public Procurement Monitoring Office (PPMO) said that the procurement process has been halted because of their failure to download the documents since last month.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Coincidently, Patan High Court had ordered the PPMO to move ahead with the tender process the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The Department of Railways was preparing to evaluate 120 proposals for the construction of the 106-kilometer long track-bed along the section. But the process has remained on hold ever since the problem surfaced.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Director General of the Department of Railways, Balaram Mishra, informed that although they were preparing to evaluate the proposals after the high court’s ruling, they were unable to do so due to the problem in downloading the documents.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson of PPMO Sushil Dhakal says they are making efforts to resolve the problem but did not specify the exact time they will be able to sort out the issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, the inordinate delay has cast doubts about the intention of the concerned government bodies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The government has been accused of trying to award the contract worth Rs 28 billion to selected contractors. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12168', 'image' => '20200904124847_1599170858.Clipboard03.jpg', 'article_date' => '2020-09-04 12:48:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12420', 'article_category_id' => '1', 'title' => 'NCP Selects Vice Chairman Gautam over Finance Minister Khatiwada', 'sub_title' => '', 'summary' => 'September 4: The ruling Nepal Communist Party (NCP) has decided to recommend the party’s vice chairman Bamdev Gautam for the vacant position of National Assembly member to be nominated by the president.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 4: The ruling Nepal Communist Party (NCP) has decided to recommend the party’s vice chairman Bamdev Gautam for the vacant position of National Assembly member to be nominated by the president.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Prime Minister KP Sharma Oli was in favour of nominating Finance Minister Yuba Raj Khatiwada for another term but he was under mounting pressure to recommend Gautam for the post to maintain internal balance and cordial relation within the party.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">NCP Spokesperson Narayan Kaji Shrestha confirmed that the secretariat meeting of the party held at PM’s official residence in Baluwatar on Thursday (September 3) decided to recommend Gautam’s name.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Khatiwada has to be re-appointed as member of the upper house of parliament to continue as finance minister after September 5. However, Khatiwada’s chances of continuing his office as the finance minister has been all but ended with the party’s decision to choose Gautam.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">However, Khatiwada still has slim chances of remaining in office provided that the party orders any one of the two nominated MPs to resign for re-appointing Khatiwada. However, the secretariat meeting on Thursday did not discuss this issue, informed party spokesperson Shrestha.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The secretariat meeting had decided to recommend Gautam’s name six months ago. But the party had courted controversy for not implementing the decision. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Khatiwada’s first term in office had ended on March 3 but he got nominated as upper house member by the president six months ago upon PM Oli’s recommendation. Without being a member of parliament, Khatiwada cannot continue as finance minister. He current holds the portfolio of Communication and Information Minister as well.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-04', 'modified' => '2020-09-04', 'keywords' => '', 'description' => '', 'sortorder' => '12167', 'image' => '20200904113647_20191022025030_20190927045330__MG_7700.JPG', 'article_date' => '2020-09-04 11:36:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12419', 'article_category_id' => '1', 'title' => 'Industries Struggling due to Prohibitory Order', 'sub_title' => '', 'summary' => 'September 3: The government has given high priority to essential goods and services during the prohibitory period as well as lockdown period. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 3: The government has given high priority to essential goods and services during the prohibitory period as well as lockdown period. Soon after imposing lockdown on March 24, the government had pledged to facilitate in reopening factories that produce essential goods. However, the production and supply of such essential goods have become problematic after the district administration offices in various districts issued prohibitory orders to contain the spread 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:"Arial Unicode MS"">Industrialists complain that operating their factories has become uncertain because of the strict measures adopted by government authorities. Even the production of food and medicines has been badly affected by the prohibitory orders issued by more than 50 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:"Arial Unicode MS"">Pharmaceutical companies in the Bara-Parsa Industrial Corridor have been closed since one week after the local administration ordered quarantine facility for workers within the industry. Factories producing food are also operating with minimum work force.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Low production is likely to disrupt the supply chain, warns Subodh Gupta, senior vice president of Birgunj Chamber of Commerce. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, Chief District Officer of Parsa Asman Tamang says that they believe the industrial sector as the source of community transmission of coronavirus in the region.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Soon after the lockdown was lifted about a month ago, Indian workers employed in the industries tested positive for coronavirus, says Tamang. Therefore, they took precautionary measures to stop the disease from spreading.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12166', 'image' => '20200903060551_20200830020949_1598735616.2.jpg', 'article_date' => '2020-09-03 18:04:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
