September 3: The number of people blacklisted by banks and financial institutions (BFIs) has increased during the period of coronavirus pandemic.…
September 3: The number of people blacklisted by banks and financial institutions (BFIs) has increased during the period of coronavirus pandemic.…
September 3: Nielsen Nepal Private Limited, a leading multinational market research company in Nepal, is in the process of…
September 3: The government has directed Air Arabia to refund the additional charges it collected from passengers during a recent flight.…
September 3: Government authorities have extended the prohibitory order in the Kathmandu valley by another seven days.…
September 2: Daraz, an online shopping marketplace of Nepal, has entered into a partnership with Visa, a global leader in digital payments technology, to drive forward online card payments in Nepal.…
September 2: The government has started issuing labour permits to aspiring Nepali migrant workers at a time when the local administrations in different districts have imposed prohibitory orders to contain the spread of…
September 2: Prime Minister KP Oli has requested for help from his Bangladeshi counterpart Sheikh Hasina to supply urea at a time when the farmers across the country are facing acute shortage of chemical fertilizers.…
September 2: Two-third of Nepal’s international trade and 90 percent of the transit is dependent on India. Indian seaports, trains or other forms of land transportation are used for all of Nepal’s international…
September 2: Petroleum products have started entering Nepal from Panitanki of West Bengal state of India after almost five months.…
September 2: Online delivery service in the Kathmandu valley has resumed from Tuesday (September 1) after a brief…
September 2: Nepal Oil Corporation (NOC) has increased the price effective from Tuesday midnight (September 1).…
September 1: The government has decided to allow the import of peas and black pepper that have been stopped at the customs points.…
September 1: Experts from India and Nepal stressed on the role that Micro, Small and Medium Enterprises (MSMEs) can play to rebound the economy that has been reeling under the crisis of Covid-19 and the extended lockdown in the region.…
September 1: With the increase in coronavirus infection, the demand for sanitizer has skyrocketed.…
September 1: Readymade garment producers of Nepal are forced to pay four times high price for air tickets to export their products due to unavailability of flights amid Covid-19…
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', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 3: The number of people blacklisted by banks and financial institutions (BFIs) has increased during the period of coronavirus pandemic. People who have written cheques with insufficient balance in their accounts have been listed in the blacklist more than the debtors.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Data from the Credit Information Centre shows that 10,732 people have been added to the blacklist from mid-March to mid-August. There are 13,024 people in the blacklist. A total of 9,626 people were added in the month of Ashad (mid-June to mid-July) alone. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Similarly, the number of people blacklisted in the month of Baishakh (mid-April to mid-May) was 26 followed by 89 in Jestha (mid-May to mid-June), 137 in Shrawan (mid-July to mid-August) and 168 in Bhadra (August end).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Anil Adhikari, the Chief Executive Officer of Credit Information Centre, said that international organizations like the World Bank and the International Finance Corporation have also inquired about the increase in the number of blacklisted people. He said that confusions were created because the data published by the Centre contained the names of not just debtors but also the people with bounced cheques.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank (NRB) has made an arrangement through the integrated directive issued in Bhadra 2076 to blacklist a person, firm, company or an organization if they sign their cheque incorrectly or have insufficient balance in their account and do not make the payment within a week. Previously, only the people with repetitive bounced cheques were blacklisted. The Centre says that while the number of debtors with non-performing loans has gone down, the number of people with bounced cheques has increased in the blacklist. According to the Centre, 65% i.e. 6,500 people have been enlisted in the blacklist because of bounced cheques. The Chief Executive Officer Adhikari says that the remaining 35% are debtors being monitored because of bad debts or non-performing loans.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“All of the people listed in the blacklist have signed bounced cheques. Most of them have bounced cheques ranging from Rs 1,000 to Rs 10,000,” Adhikari told New Business Age, adding, “After many failed attempts of trying to get their money from the cheques, people submit an application to the bank, requesting to add their creditor to the blacklist. On this basis, the banks submit the names of their customers with bounced cheques and we add them to the blacklist.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He added that we will be able to observe the rate of increment of people in the blacklist after the end of the exemptions provided by Nepal Rastra Bank. CEO Adhikari estimates that the number of people in the blacklist due to bad debts will increase after about 4 months.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank has arranged discounts to severely affected, medium affected and less affected businesses as they were affected by the lockdown enforced because of the coronavirus pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman of the Nepal Bankers' Association Bhuwan Dahal said that many debtors have been saved from being added to the blacklist because of the extension in the loan payment period by the central bank. According to him, the reason for the lesser number of debtors in the blacklist is also the exemption given by the central bank to the banks and finance companies to classify the loans given after the end of Poush 2076 (mid-January 2020) till the end of Ashad 2077 (mid-July 2020) as good loans. </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 this arrangement, the debtors who had non-performing loans or bad debts before the end of Poush, 2076 have been added to the blacklist. If the economy improves after the exemption period finishes, we can expect the number of blacklisted debtors to decrease,” 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">BFIs are not allowed to provide loans to blacklisted debtors. In case a loan is given to them, there is a policy that automatically considers this loan a bad debt. In addition, a blacklisted person may also not to be able to get various benefits provided by the state.</span></span></span></p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12165', 'image' => '20200903031423_1596058689.Clipboard01.jpg', 'article_date' => '2020-09-03 15:13:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12417', 'article_category_id' => '1', 'title' => 'Multinational Company Nielsen Nepal in Liquidation Process', 'sub_title' => '', 'summary' => 'September 3: Nielsen Nepal Private Limited, a leading multinational market research company in Nepal, is in the process of liquidation.', '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: Nielsen Nepal Private Limited, a leading multinational market research company in Nepal, is in the process of liquidation. Multinational company Nielsen Holdings, which has 100 percent stake on Nielsen Nepal, had decided to close its office in Nepal on June 30.</span></span></span></span></p> <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 company is likely to complete the liquidation process within September 30. A source at the company informed New Business Age that they have completed all internal the paper works for liquidation and is only awaiting the formal process to complete within this month. The liquidation process has been pushed back by the prohibitory order issued by the District Administration Office of the Kathmandu Valley, the source further 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"">Nielsen Nepal had been involved in market research in Nepal since 1993. However, the company was unable to carry its business as expected during recent months. The coronavirus pandemic further aggravated the problems of the company after which it decided to go for liquidation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Besides Nepal, Nielsen Holdings has decided to close its offices in four other countries as well.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">New York-based Nielsen Holdings is an internationally renowned data analysis company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nielsen Nepal had been conducting market research, social research and retail measurement services. However, due to bleak prospects in these areas, the company decided to close its office in Nepal, it has been learnt.</span></span></span></span></p> <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 company found that its expenses in Nepal were more than the income it has been making, the source said. Nielsen Holdings is reportedly investing in only those countries where there is high return.</span></span></span></span></p> <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 multinational companies like Surya Nepal, Unilever Nepal among others used to hire Nielsen Nepal for market research. </span></span></span></span></p> <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 the decision to close the company in Nepal, more than 60 full-time workers and over 200 independent researchers associated with the company have lost their jobs.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Four of the staffers of the company have set up a new company named Mark Data Nepal, which is similar in nature to Nielsen Nepal.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12164', 'image' => '20200903022731_508672712_1517483463.jpg', 'article_date' => '2020-09-03 14:26:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12416', 'article_category_id' => '1', 'title' => 'Government Directs Air Arabia to Refund Passengers', 'sub_title' => 'Commercial Flights Resume from September 2', 'summary' => 'September 3: The government has directed Air Arabia to refund the additional charges it collected from passengers during a recent flight. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 3: The government has directed Air Arabia to refund the additional charges it collected from passengers during a recent flight. </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:"Arial Unicode MS"">The government issued such directive during a regular meeting at the Ministry of Culture, Tourism and Civil Aviation on Wednesday (September 2) following complaints of excessive charge by the airline company during a recent flight.</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:"Arial Unicode MS"">The airline company has been accused of charging extra amount to 142 out of 161 passengers who travelled to Nepal from Sharjah of the UAE in an Air Arabia flight on August 25. </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:"Arial Unicode MS"">The airliner had carried 142 passengers who underwent Polymerase Chain Reaction (PCR) tests, 18 who had done Rapid Diagnostic Test (RDT) and one without any test to Nepal and kept them in hotel quarantine. The airline company allegedly charged the amount for their stay in hotel while selling the tickets but the passengers later had to pay the hotel bill themselves. Following complaints that the passengers were duped by the company and had to pay twice for the service, the ministry directed the airline company to foot the bill. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai has instructed the concerned authorities to take action against the airline company if it refuses to refund the amount. Likewise, the ministry has also requested international airline companies not to charge any additional amount to the passengers during the current 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:"Arial Unicode MS"">Travel agencies have been blamed for taking advantage of the current situation while selling tickets due to the unavailability of regular flights. Minister Bhattarai opined that the airline companies must regulate the black marketing. He added that the ministry will coordinate with Nepal’s diplomatic missions abroad and the non-residential Nepalis to control the black market of air tickets.</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:"Arial Unicode MS"">Meanwhile, international commercial flights resumed in Nepal from Wednesday (September 2) after a gap of almost five months. The government had earlier decided to resume regular flights from September 2 by following the required safety protocols to prevent the spread of Covid-19.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12163', 'image' => '20200903010406_1599085733.Clipboard14.jpg', 'article_date' => '2020-09-03 13:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12415', 'article_category_id' => '1', 'title' => ' Prohibitory Order in Kathmandu Valley Extended by One Week', 'sub_title' => '', 'summary' => 'September 3: Government authorities have extended the prohibitory order in the Kathmandu valley by another seven days. ', '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: Government authorities have extended the prohibitory order in the Kathmandu valley by another seven days. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the latest decision taken by the chief district officers Kathmandu, Lalitpur and Bhaktapur, the prohibitory order will remain in effect till midnight of September 9. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, the district administration offices of the three districts in the valley have eased the restrictions to some extent this time.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">From now onwards, groceries and other shops selling fruits, vegetables and milk can remain open till 11 am in the morning. Meanwhile, shops selling drinking water can open throughout the day. There are no restrictions for pharmaceutical shops. </span></span></span></span></p> <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, any person entering Kathmandu for emergency purpose needs to mandatorily present a PCR report with negative result.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is also mandatory for the people to wear mask in public places.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Likewise, staffers providing essential services will be allowed to commute between 9 to 10.30 in the morning and 3 to 5 pm in the evening.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions (BFIs) can operate by maintaining safety protocols and deploying minimum staffers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Hotels and restaurants will remain completely shut during the extended period of the prohibitory order. Road-side vendors have also not been permitted to resume their business.</span></span></span></span></p> <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 district administration offices of Kathmandu, Lalitpur and Bhaktapur had imposed the prohibitory order on August 19 after a rapid increase in coronavirus cases in the valley. The prohibitory order has been extended twice and this is the third week of restriction.</span></span></span></span></p> <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 District Administration Office, Kathmandu informed New Business Age that they decided to slightly change the modality of the prohibitory order after consulting with the concerned stakeholders, including the business community, health experts and the local representatives.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12162', 'image' => '20200903113103_1599056781.jpg', 'article_date' => '2020-09-03 11:30:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12414', 'article_category_id' => '1', 'title' => 'Daraz Offers Discount to Visa Card Holders', 'sub_title' => '', 'summary' => 'September 2: Daraz, an online shopping marketplace of Nepal, has entered into a partnership with Visa, a global leader in digital payments technology, to drive forward online card payments in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">September 2: Daraz, an online shopping marketplace of Nepal, has entered into a partnership with Visa, a global leader in digital payments technology, to drive forward online card payments in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">Daraz </span><span style="font-size:14.0pt">and Visa are offering Visa card holders a 15 percent discount on prepayments till September 30, reads a joint statement issued by the two companies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">“Customers can choose anything amongst 450,000 products ranging from electronics, groceries, lifestyle to fashion sold by more than 5,000 sellers on Daraz,” the statement further said, adding that Visa and Daraz users can enjoy a maximum discount of Rs 500 by pre-paying only via a Visa card that they have saved on the Daraz app. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">The discount offer can be used only once and includes all current Visa credit, debit and prepaid cards issued in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">“A collective effort is necessary in order to drive the development of the online card payment ecosystem in Nepal, and so, we are thrilled to collaborate with Visa. And with this initial offer, we want to provide our customers an added benefit for choosing the already more convenient and safe method of making online payments,” said Lino Ahlering, MD of Daraz Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">Shailesh Paul, head of Merchant Sales and Acquiring of Visa, said, “Digital payments and online shopping have become crucial in recent times, given the need for social distancing. We are delighted to partner with a leading ecommerce player like Daraz to provide their shoppers the convenience of paying online through a safe, secure medium. Our relationship with Daraz in multiple South Asian markets is proof of how established players can and should come together to enable and enhance shopping experiences for consumers.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12161', 'image' => '20200902070009_My Effect.jpg', 'article_date' => '2020-09-02 18:53:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12413', 'article_category_id' => '1', 'title' => 'Government Starts Issuing Labour Permit ', 'sub_title' => '', 'summary' => 'September 2: The government has started issuing labour permits to aspiring Nepali migrant workers at a time when the local administrations in different districts have imposed prohibitory orders to contain the spread of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 2: The government has started issuing labour permits to aspiring Nepali migrant workers at a time when the local administrations in different districts have imposed 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:"Bangla MN"">The Council of Ministers recently decided to issue new labour permits upon the recommendation of the Ministry of Labour, Employment and Social Security.</span></span></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"">Tahachal-based Labour Office has started issuing new labour permits from September 2, following the cabinet decision. This has opened door for Nepali citizens to go overseas for foreign employment by fulfilling all the safety standards to prevent 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:"Bangla MN"">Director General of the Department of Foreign Employment Kumar Prasad Dahal told New Business Age that they have started issuing labour permits as per the agreement with the respective labour destinations and their demand for labour.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The government had stopped issuing labour permits since February/March due to the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The new labour permits will be issued only through the Labour Office based in Tahachal. However, Dahal says those aspiring to go abroad to foreign countries for work are facing difficulty in arriving in Kathmandu to obtain the permit.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12160', 'image' => '20200902043527_1598998058.Clipboard07.jpg', 'article_date' => '2020-09-02 16:34:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12412', 'article_category_id' => '1', 'title' => 'Bangladesh Ready to Supply 50,000 Tons of Urea to Nepal: PM Oli', 'sub_title' => '', 'summary' => 'September 2: Prime Minister KP Oli has requested for help from his Bangladeshi counterpart Sheikh Hasina to supply urea at a time when the farmers across the country are facing acute shortage of chemical fertilizers. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 2: Prime Minister KP Oli has requested for help from his Bangladeshi counterpart Sheikh Hasina to supply urea at a time when the farmers across the country are facing acute shortage of chemical fertilizers. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">PM Oli sought help from Bangladesh during a telephone conversation with PM Hasina on Tuesday (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">Oli said in a tweet that he held talks with Bangladesh regarding the relation between the two countries. He added that Bangladeshi PM Hasina was positive toward his request to supply urea.</span></span></span></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 telephone conversation tool place at a time when Nepal had initiated the process to procure fertilizers from Bangladesh. Farmers are also in need of urea right now after completing plantation.</span></span></span></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 is preparing to borrow 50,000 tons of urea from Bangladesh at the moment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson for the Ministry of Agriculture and Livestock Development Hari Bahadur KC confirmed that that the government has initiated the process to borrow 50,000 tons of urea from Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the ministry, the government will receive 50,000 tons of urea from Bangladesh and instead paying for the fertilizer, the government will return the same amount next year. This agreement has been finalized after the telephone conversation between the two prime ministers, said a high-ranking government official.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12159', 'image' => '20200902034558_1598998127.Clipboard01.jpg', 'article_date' => '2020-09-02 15:45:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12411', 'article_category_id' => '1', 'title' => 'India Generating Rs 100 Billion Annually by Providing Transshipment Facilities to Nepal', 'sub_title' => 'Businesses of Indian Seaports, railway, and other means of transportation flourishing in Nepal', 'summary' => 'September 2: Two-third of Nepal’s international trade and 90 percent of the transit is dependent on India. Indian seaports, trains or other forms of land transportation are used for all of Nepal’s international trade.', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 2: Two-third of Nepal’s international trade and 90 percent of the transit is dependent on India. Indian seaports, trains or other forms of land transportation are used for all of Nepal’s international trade. The geographical advantage of the southern neighbor is also one of the reasons for Nepal’s dependence on India.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">India giving Nepal the access to its sea routes has be interpreted as an act of goodwill. However, the fact that this facility provided to Nepal is a great business opportunity for India is rarely discussed.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The right to access to the sea route that Nepal has received as a landlocked country has become a great business opportunity for India. The Indian government as well as the private sectors have been earning billions of rupees annually from this.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">A minimum of 1500 trucks enter Nepal from various customs points every day. Ashok Temani, the chairman of the Transport and Transshipment Committee under the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) says that one such truck that carry goods from various parts of India earn an average of Rs 160,000 per year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">If 450,000 trucks enter Nepal with goods, Nepalese businessmen have to pay Rs 70 billion just for the transportation every year.</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 Nepal Transit and Warehouse Company (NTWC), 180,000 containers entered Nepal through the Indian seaport in 2019/20. When these containers were being brought to Nepal, transportations through rails and land from the Indian ports also did a significant amount of business.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani says that the cost of transporting a container to Nepal by rail from seaports of Kolkata and Visakhapatman in India to Nepal is Rs 150,000 in average. NTWC says that 48,000 containers have been transported through road this year. An estimated amount of Rs 9 billion was spent while bringing in 60,000 containers through rail.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani claims that the cost of importing goods from Indian ports totals to Rs 100 billion annually after including other direct and indirect costs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“The business of Indian seaports, railways and other means of transportation has really flourished in India,” he says.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Government agencies haven’t yet studied the cost of transit of goods incurred during Nepal’s foreign trade. Ravi Shankar Sainju, former joint secretary of the Ministry of Industry, Commerce and Supplies, says that a separate study on the cost of transportation in trade is yet to be done. Government officials estimate that the cost of transit of goods is about 20 to 25 percent of the total trade.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Indian cargo trucks are permitted to stay in Nepal for 72 hours after entering through the customs points. This time is enough for the trucks to return after making their respective deliveries. Businessmen say that although arrangements have been made to allow Nepali trucks to enter through the points but there are still problems in the implementation of this arrangement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Indian means of cargo transportation get permissions from the checkpoints of the ports. However, this facility is not available for Nepali trucks. “Nepali transportation has been discouraged with various excuses to maintain the monopoly of the Indian cargo vehicles,” an official said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Joint Secretary Sainju believes that the cost of transit can be reduced by diversifying our dependence. “If we are able to increase the use of air transportation for the use of the northern ports, our dependence on India will decrease. It will also help in increasing competition,” he told New Business Age.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani claims that India’s dominance on cargo can be decreased with the promotion of Nepalese transportation businesses for carrying cargo. “The government should promote Nepali transportation business by introducing new policies. However, the government has not prioritized this concept.”</span></span></span></p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12158', 'image' => '20200902031757_1598998200.23.jpg', 'article_date' => '2020-09-02 15:17:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12410', 'article_category_id' => '1', 'title' => 'Petroleum Products Start Entering Nepal from Siliguri after 5 Months', 'sub_title' => '', 'summary' => 'September 2: Petroleum products have started entering Nepal from Panitanki of West Bengal state of India after almost five months. ', '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 2: Petroleum products have started entering Nepal from Panitanki of West Bengal state of India after almost five months. This route was closed due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Mechi Customs Office, Nepali tankers have already started bringing petrol and diesel from Siliguri.</span></span></span></span></p> <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 West Bengal state had closed this entry point for indefinite period of time as a precautionary measure. Currently, it has been partially opened. </span></span></span></span></p> <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, Indian cargo vehicles were allowed to enter Kakadbhitta of Nepal through this customs point, but those vehicles had to find another route to return back to India. This problem has not been resolved but the empty vehicles can enter India only from 8 am till 5 pm.</span></span></span></span></p> <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 the West Bengal government had eased vehicular movement from this transit point some time ago, petroleum product was not allowed until now.</span></span></span></span></p> <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 West Bengal government had closed this border on April 8 citing the risk posed by coronavirus. One month later, the state government opened one-way traffic for cargo vehicles to enter Nepal from May 9. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It was only on June 21 that the state government opened two-way traffic for import and export of selected products.</span></span></span></span></p> <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 obstruction in flow of goods and vehicles had affected revenue collection of the Mechi Customs Office. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12157', 'image' => '20200902015342_1598998328.Clipboard08.jpg', 'article_date' => '2020-09-02 13:53:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12409', 'article_category_id' => '1', 'title' => 'E-commerce Companies Resume Online Delivery Service', 'sub_title' => '', 'summary' => 'September 2: Online delivery service in the Kathmandu valley has resumed from Tuesday (September 1) after a brief interruption.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">September 2: Online delivery service in the Kathmandu valley has resumed from Tuesday (September 1) after a brief interruption.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Police had last week cracked down on online delivery service provided by e-commerce companies arguing that the delivery of goods during prohibitory period does not fall under essential service.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Altogether 65 delivery persons were briefly detained by the police on Thursday (August 27) and the companies were warned not to resume their service.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">However, under widespread criticism from all quarters of society</span><span style="font-size:14.0pt"><span style="font-family:Arial">, the </span></span><span style="font-size:14.0pt">District Administration Office, Kathmandu had formed a taskforce </span><span style="font-size:14.0pt"><span style="font-family:Arial">to prepare the criteria for allowing online delivery service in the capital. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Chief District Officer (CDO) of Kathmandu Janak Raj Dahal had formed a four-member committee headed by Assistant CDO Janak Raj Bhatta to prepare the criteria by Monday (August 31).</span></span></span></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 other members of the committee were chief of the Public Health Office, Kathmandu Badri Bahadur Khadka; Director of the Department of Commerce Sagar Mishra and DSP Dipendra Shah of Armed Police 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">The taskforce is yet to submit its report. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">But the e-commerce companies have already resumed their service from September 1 after issuing a joint statement which says that delivery of medicines, food items, cooking gas, fuel, vegetables, fruits, milk and milk products among others have not been prohibited by the District Administration Office. The statement says that their service does not contradict with the sixth point of prohibitory order issued by the District Administration Offices of Kathmandu, Lalitpur and Bhaktapur about two weeks 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">However, the DAO, Kathmandu says it is yet to lift the ban on online delivery service. According to an official at the DAO, they are preparing to allow online delivery service after the taskforce submits its report suggesting guidelines to follow for the e-commerce companies while rendering their service.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">On the other hand, the joint statement issued by the e-commerce companies mentions that there isn’t any need for prior approval to provide essential services.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12156', 'image' => '20200902115950_homedelivery.jpg', 'article_date' => '2020-09-02 11:59:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12408', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petrol', 'sub_title' => 'Price of Diesel, Kerosene and Cooking Gas Remains the Same', 'summary' => 'September 2: Nepal Oil Corporation (NOC) has increased the price effective from Tuesday midnight (September 1). ', '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 2: Nepal Oil Corporation (NOC) has increased the price effective from Tuesday midnight (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"">With the new price adjustment, petrol has become costlier by Rs 2 per litre. Petrol is not available for Rs 107 per litre according to the new price list published by NOC. </span></span></span></span></p> <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, the price of diesel, kerosene and cooking gas remains the same, NOC said in a statement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC said that the price was increased as per the new list provided by the Indian Oil Corporation.</span></span></span></span></p> <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 is the second time in two weeks that the state-owned oil monopoly has increased the price of petroleum products. The last time NOC had increased the price of petroleum products was on August 16. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12155', 'image' => '20200902103016_petrol_diesel_.jpg', 'article_date' => '2020-09-02 10:29:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12407', 'article_category_id' => '1', 'title' => 'Government Allows Import of Peas and Black Pepper Stuck at vairous Ports ', 'sub_title' => '', 'summary' => 'September 1: The government has decided to allow the import of peas and black pepper that have been stopped at the customs points. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 1: The government has decided to allow the import of peas and black pepper that have been stopped at the customs points. A cabinet meeting on Sunday, August 30, decided to allow the import of those peas and black pepper. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The food items are stuck at the customs points since the past five months because they were being imported without the prior approval of the Department of Food Technology and Quality Control.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government has decided to allow the import of only those peas and black pepper that were shipped before March 2020. Earlier a cabinet meeting held on April 30 had decided to ban the import of watermelon, chilly, dates and betel nut into 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:Calibri">Following the government's restriction, around 1,000 containers of unlicensed food were stranded at various ports including at Birgunj Dry Port and India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the government has already lifted bans on import of betel nuts. Likewise, the government has decided to allow exporters to take back the black pepper. </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 meantime, government has initiated the process for returning 60 containers of chilly from the Birgunj Dry Port.</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">Importers who are not willing to take back the peas and black peppers will be allowed to import the items. However, government is still unclear about what to do with the dates stuck at the checkpoint. According to the dry port’s customs office, about 100 containers of dates are stuck in the ports of Nepal and India.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12154', 'image' => '20200901042358_1598924714.Clipboard06.jpg', 'article_date' => '2020-09-01 16:23:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12406', 'article_category_id' => '1', 'title' => 'Experts Stress on Role of MSMEs to Rebound the Economy', 'sub_title' => '', 'summary' => 'September 1: Experts from India and Nepal stressed on the role that Micro, Small and Medium Enterprises (MSMEs) can play to rebound the economy that has been reeling under the crisis of Covid-19 and the extended lockdown in the region. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">September 1: Experts from India and Nepal stressed on the role that </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Micro, Small and Medium Enterprises (MSMEs) can play to rebound the economy that has been reeling under the crisis of Covid-19 and the extended lockdown in the region. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Senior Vice President of the PHD Chamber of Commerce and Industry (PHDCCI) Sanjay Aggrawal </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">said during a Webinar conference held on August 31 that it is high time that the MSMEs be given their space as the Covid-19 pandemic has made a firm ground for strengthening bilateral relations between India and Nepal and these business can play pivotal roles in economic rebounding.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Anil Khaitan, former president of PHDCCI, presented a global overview about the effect of the pandemic on the economy and the required response to mitigate the challenges being faced by MSMEs during the interaction organised jointly by </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Nepal SBI Bank Limited (NSBL) and PHDCCI under the aegis of India-Nepal Centre and the Confederation of Nepalese Industries (CNI).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“In these adverse times, it is utmost important that businesses adopt the ways for frugal innovation,” a joint statement issued by the organisers quoted him as saying.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Khaitan, the MSMEs need a clear definition that will be immensely helpful for letting them avail the market conditions efficiently. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Speaking at the same online interaction entitled ‘Enhancing Cooperation for MSMEs in Nepal’, CEO of Investment Board Nepal (IBN) Sushil Bhatta </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">highlighted the importance of MSME for Nepal's economy and job creation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He stressed on the need of creating awareness in MSMEs for the skill development,<br /> entrepreneurial advancement, innovative practices, new technology to give them a competitive edge at the regional and global platforms.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Bhatta also shed light on the challenges MSMEs are facing with the demand and supply shocks with the ongoing crisis emerged through the pandemic.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Governor of Nepal Rastra Bank</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman""> Maha Prasad Adhikari in his keynote speech called the MSMEs sector as the growth engine of Nepal’s economy. Highlighting on the recent policy measures, he assured the industry that Nepal’s MSMEs are on way to emerge stronger and can partner for registering positive outcomes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Similarly, Kapidjwaja Pratap Singh, commercial representatives at the Indian Embassy in Nepal, said many importers in India are dependent on exports of Nepal, making it a two-way flow of commodities between India and Nepal. He added that localised trade is happening at a fast pace. This shows the immense networking and supply chain management development by business between India and Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“In the recent past, the trade between India and Nepal has reached to around 85 percent peak of pre-Covid times both in terms of exports and imports,” said Singh. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Anukool Bhatnagar, MD and CEO of NSBL, in his presentation discussed financer's perspectives on the MSME's in Nepal. He presented a “nuanced view” on key pressing policy issues that are impacting the way banks are lending to MSMEs. While the credit gap is still there, Nepal has evolved as a country with robust ecosystem for the old and new businesses, he reportedly said. Bhatnagar also appreciated the regulatory measures of NRB that are particularly sensitive to the concerns of MSMEs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman""> Dr D K Aggarwal, president of PHDCCI, shared about India’s unique and deep relationship with Nepal. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12153', 'image' => '20200901023317_13202_DSC_0992 (1).jpg', 'article_date' => '2020-09-01 14:32:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12405', 'article_category_id' => '1', 'title' => 'Sanitizers Imported without Quality Check ', 'sub_title' => '', 'summary' => 'September 1: With the increase in coronavirus infection, the demand for sanitizer has skyrocketed. ', '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 1: With the increase in coronavirus infection, the demand for sanitizer has skyrocketed. Not only have domestic pharmaceutical industries started producing sanitizers, the imported sanitizers are also widely available in the market. However, the risk of infection has further increased as the sanitizers are imported without quality check. </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 Department of Drug Administration (DDA) has given permission to 40 pharmaceutical companies for the production of sanitizer since April. Among them, 30 have already started commercial production. Although Nepal Bureau of Standards and Metrology monitors the quality of sanitizers produced by the industries in Nepal, sanitizers are being imported from the customs points without quality inspection. </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 department has made a criteria for domestic industries that there should be 80 percent ethanol in the sanitizer. Regardless of this, the department is ignorant about the standard for the sanitizers that are being imported from countries including India and China. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to Ramesh Sukmani, officer at Birgunj Customs Office, there is no provision of ensuring the quality of sanitizer at customs points.</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""> “DDA has sent a letter to allow the import till mid-October,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Spokesperson of DDA Santosh KC informed that they have extended the time period for the importers to register the products from July to September.</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 time period has been extended after the importers said that it was difficult to present the documents due to the lockdown,” he told New Business Age. The department says that the quality will be monitored after registration of the products. </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"">A recent study by Nepal Academy of Science and Technology (NAST) found that 45 percent sanitizers that are available in the Nepali market are of poor quality. NAST warns of an increased risk of infection as such sanitizers cannot incapacitate the virus. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12152', 'image' => '20200901013444_1598909323.Clipboard15.jpg', 'article_date' => '2020-09-01 13:34:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12404', 'article_category_id' => '1', 'title' => 'Garment Industry of Nepal Struggling to Export their Product', 'sub_title' => 'Exporters Forced to Pay Four Times High Airfare', 'summary' => 'September 1: Readymade garment producers of Nepal are forced to pay four times high price for air tickets to export their products due to unavailability of flights amid Covid-19 pandemic.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 1: Readymade garment producers of Nepal are forced to pay four times high price for air tickets to export their products due to unavailability of flights amid Covid-19 pandemic. Regular flights have been halted since a long time to prevent the spread of coronavirus. So the exporters have no option to send the products through chartered flights operated for rescuing stranded Nepali citizens, which is much more costlier.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Readymade garments produced in Nepal are exported to countries like Germany, France, Hungary, Denmark, Italy, Norway as well as the USA, Australia and Canada. Europe is a major market for readymade garments made in Nepal. Out of the total readymade garments manufactured in Nepal, 70 percent is exported to Europe.</span></span></span></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 demand for readymade garments depends on the season. Therefore, the Nepali exporters say they have had to bear losses of more than Rs 1.25 billion for failing to deliver the goods on time.</span></span></span></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 manufacturers have to incur huge losses if they have to keep the products for the next 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">Therefore, the manufacturers are exporting products like shorts, trousers, pants and ladies wear to selected European countries by paying exceptionally high airfare, informed Ashok Agrawal, general secretary of Garment Association of Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that they have no option other than to pay four times higher to export the goods through chartered flights.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, Nepali exporters had been exporting goods for 2 dollar per kilogram. But the cost has gone up to 8 dollars per kg at present.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“It is better to pay high price than to face loss due to delay in delivery, which often causes irreparable damage because the season gets over by that time,” says Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the association, there were 1200 garment factories in Nepal which provided employment to more than 100,000 people about 15 years ago. However, there are currently only 50 such factories across the country and they provide employment to 8,000 people.</span></span></span></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 garment industry of Nepal had done transactions worth Rs 7 billion during last fiscal year, but the association fears that the figure might take a nosedive 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:Arial">The garment industries are operating at 20 percent capacity after the lockdown was imposed on March 24. On top of that, they are struggling to export the manufactured products.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12151', 'image' => '20200901114856_1598909272.4.jpg', 'article_date' => '2020-09-01 11:48:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12418', 'article_category_id' => '1', 'title' => 'More than 10 Thousand Added in the Blacklist of BFIs', 'sub_title' => '65% in the blacklist because of bounced cheques', 'summary' => 'September 3: The number of people blacklisted by banks and financial institutions (BFIs) has increased during the period of coronavirus pandemic. ', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 3: The number of people blacklisted by banks and financial institutions (BFIs) has increased during the period of coronavirus pandemic. People who have written cheques with insufficient balance in their accounts have been listed in the blacklist more than the debtors.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Data from the Credit Information Centre shows that 10,732 people have been added to the blacklist from mid-March to mid-August. There are 13,024 people in the blacklist. A total of 9,626 people were added in the month of Ashad (mid-June to mid-July) alone. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Similarly, the number of people blacklisted in the month of Baishakh (mid-April to mid-May) was 26 followed by 89 in Jestha (mid-May to mid-June), 137 in Shrawan (mid-July to mid-August) and 168 in Bhadra (August end).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Anil Adhikari, the Chief Executive Officer of Credit Information Centre, said that international organizations like the World Bank and the International Finance Corporation have also inquired about the increase in the number of blacklisted people. He said that confusions were created because the data published by the Centre contained the names of not just debtors but also the people with bounced cheques.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank (NRB) has made an arrangement through the integrated directive issued in Bhadra 2076 to blacklist a person, firm, company or an organization if they sign their cheque incorrectly or have insufficient balance in their account and do not make the payment within a week. Previously, only the people with repetitive bounced cheques were blacklisted. The Centre says that while the number of debtors with non-performing loans has gone down, the number of people with bounced cheques has increased in the blacklist. According to the Centre, 65% i.e. 6,500 people have been enlisted in the blacklist because of bounced cheques. The Chief Executive Officer Adhikari says that the remaining 35% are debtors being monitored because of bad debts or non-performing loans.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“All of the people listed in the blacklist have signed bounced cheques. Most of them have bounced cheques ranging from Rs 1,000 to Rs 10,000,” Adhikari told New Business Age, adding, “After many failed attempts of trying to get their money from the cheques, people submit an application to the bank, requesting to add their creditor to the blacklist. On this basis, the banks submit the names of their customers with bounced cheques and we add them to the blacklist.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He added that we will be able to observe the rate of increment of people in the blacklist after the end of the exemptions provided by Nepal Rastra Bank. CEO Adhikari estimates that the number of people in the blacklist due to bad debts will increase after about 4 months.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank has arranged discounts to severely affected, medium affected and less affected businesses as they were affected by the lockdown enforced because of the coronavirus pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman of the Nepal Bankers' Association Bhuwan Dahal said that many debtors have been saved from being added to the blacklist because of the extension in the loan payment period by the central bank. According to him, the reason for the lesser number of debtors in the blacklist is also the exemption given by the central bank to the banks and finance companies to classify the loans given after the end of Poush 2076 (mid-January 2020) till the end of Ashad 2077 (mid-July 2020) as good loans. </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 this arrangement, the debtors who had non-performing loans or bad debts before the end of Poush, 2076 have been added to the blacklist. If the economy improves after the exemption period finishes, we can expect the number of blacklisted debtors to decrease,” 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">BFIs are not allowed to provide loans to blacklisted debtors. In case a loan is given to them, there is a policy that automatically considers this loan a bad debt. In addition, a blacklisted person may also not to be able to get various benefits provided by the state.</span></span></span></p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12165', 'image' => '20200903031423_1596058689.Clipboard01.jpg', 'article_date' => '2020-09-03 15:13:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12417', 'article_category_id' => '1', 'title' => 'Multinational Company Nielsen Nepal in Liquidation Process', 'sub_title' => '', 'summary' => 'September 3: Nielsen Nepal Private Limited, a leading multinational market research company in Nepal, is in the process of liquidation.', '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: Nielsen Nepal Private Limited, a leading multinational market research company in Nepal, is in the process of liquidation. Multinational company Nielsen Holdings, which has 100 percent stake on Nielsen Nepal, had decided to close its office in Nepal on June 30.</span></span></span></span></p> <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 company is likely to complete the liquidation process within September 30. A source at the company informed New Business Age that they have completed all internal the paper works for liquidation and is only awaiting the formal process to complete within this month. The liquidation process has been pushed back by the prohibitory order issued by the District Administration Office of the Kathmandu Valley, the source further 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"">Nielsen Nepal had been involved in market research in Nepal since 1993. However, the company was unable to carry its business as expected during recent months. The coronavirus pandemic further aggravated the problems of the company after which it decided to go for liquidation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Besides Nepal, Nielsen Holdings has decided to close its offices in four other countries as well.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">New York-based Nielsen Holdings is an internationally renowned data analysis company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nielsen Nepal had been conducting market research, social research and retail measurement services. However, due to bleak prospects in these areas, the company decided to close its office in Nepal, it has been learnt.</span></span></span></span></p> <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 company found that its expenses in Nepal were more than the income it has been making, the source said. Nielsen Holdings is reportedly investing in only those countries where there is high return.</span></span></span></span></p> <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 multinational companies like Surya Nepal, Unilever Nepal among others used to hire Nielsen Nepal for market research. </span></span></span></span></p> <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 the decision to close the company in Nepal, more than 60 full-time workers and over 200 independent researchers associated with the company have lost their jobs.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Four of the staffers of the company have set up a new company named Mark Data Nepal, which is similar in nature to Nielsen Nepal.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12164', 'image' => '20200903022731_508672712_1517483463.jpg', 'article_date' => '2020-09-03 14:26:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12416', 'article_category_id' => '1', 'title' => 'Government Directs Air Arabia to Refund Passengers', 'sub_title' => 'Commercial Flights Resume from September 2', 'summary' => 'September 3: The government has directed Air Arabia to refund the additional charges it collected from passengers during a recent flight. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 3: The government has directed Air Arabia to refund the additional charges it collected from passengers during a recent flight. </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:"Arial Unicode MS"">The government issued such directive during a regular meeting at the Ministry of Culture, Tourism and Civil Aviation on Wednesday (September 2) following complaints of excessive charge by the airline company during a recent flight.</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:"Arial Unicode MS"">The airline company has been accused of charging extra amount to 142 out of 161 passengers who travelled to Nepal from Sharjah of the UAE in an Air Arabia flight on August 25. </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:"Arial Unicode MS"">The airliner had carried 142 passengers who underwent Polymerase Chain Reaction (PCR) tests, 18 who had done Rapid Diagnostic Test (RDT) and one without any test to Nepal and kept them in hotel quarantine. The airline company allegedly charged the amount for their stay in hotel while selling the tickets but the passengers later had to pay the hotel bill themselves. Following complaints that the passengers were duped by the company and had to pay twice for the service, the ministry directed the airline company to foot the bill. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai has instructed the concerned authorities to take action against the airline company if it refuses to refund the amount. Likewise, the ministry has also requested international airline companies not to charge any additional amount to the passengers during the current 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:"Arial Unicode MS"">Travel agencies have been blamed for taking advantage of the current situation while selling tickets due to the unavailability of regular flights. Minister Bhattarai opined that the airline companies must regulate the black marketing. He added that the ministry will coordinate with Nepal’s diplomatic missions abroad and the non-residential Nepalis to control the black market of air tickets.</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:"Arial Unicode MS"">Meanwhile, international commercial flights resumed in Nepal from Wednesday (September 2) after a gap of almost five months. The government had earlier decided to resume regular flights from September 2 by following the required safety protocols to prevent the spread of Covid-19.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12163', 'image' => '20200903010406_1599085733.Clipboard14.jpg', 'article_date' => '2020-09-03 13:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12415', 'article_category_id' => '1', 'title' => ' Prohibitory Order in Kathmandu Valley Extended by One Week', 'sub_title' => '', 'summary' => 'September 3: Government authorities have extended the prohibitory order in the Kathmandu valley by another seven days. ', '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: Government authorities have extended the prohibitory order in the Kathmandu valley by another seven days. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the latest decision taken by the chief district officers Kathmandu, Lalitpur and Bhaktapur, the prohibitory order will remain in effect till midnight of September 9. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, the district administration offices of the three districts in the valley have eased the restrictions to some extent this time.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">From now onwards, groceries and other shops selling fruits, vegetables and milk can remain open till 11 am in the morning. Meanwhile, shops selling drinking water can open throughout the day. There are no restrictions for pharmaceutical shops. </span></span></span></span></p> <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, any person entering Kathmandu for emergency purpose needs to mandatorily present a PCR report with negative result.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is also mandatory for the people to wear mask in public places.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Likewise, staffers providing essential services will be allowed to commute between 9 to 10.30 in the morning and 3 to 5 pm in the evening.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions (BFIs) can operate by maintaining safety protocols and deploying minimum staffers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Hotels and restaurants will remain completely shut during the extended period of the prohibitory order. Road-side vendors have also not been permitted to resume their business.</span></span></span></span></p> <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 district administration offices of Kathmandu, Lalitpur and Bhaktapur had imposed the prohibitory order on August 19 after a rapid increase in coronavirus cases in the valley. The prohibitory order has been extended twice and this is the third week of restriction.</span></span></span></span></p> <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 District Administration Office, Kathmandu informed New Business Age that they decided to slightly change the modality of the prohibitory order after consulting with the concerned stakeholders, including the business community, health experts and the local representatives.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12162', 'image' => '20200903113103_1599056781.jpg', 'article_date' => '2020-09-03 11:30:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12414', 'article_category_id' => '1', 'title' => 'Daraz Offers Discount to Visa Card Holders', 'sub_title' => '', 'summary' => 'September 2: Daraz, an online shopping marketplace of Nepal, has entered into a partnership with Visa, a global leader in digital payments technology, to drive forward online card payments in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">September 2: Daraz, an online shopping marketplace of Nepal, has entered into a partnership with Visa, a global leader in digital payments technology, to drive forward online card payments in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">Daraz </span><span style="font-size:14.0pt">and Visa are offering Visa card holders a 15 percent discount on prepayments till September 30, reads a joint statement issued by the two companies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">“Customers can choose anything amongst 450,000 products ranging from electronics, groceries, lifestyle to fashion sold by more than 5,000 sellers on Daraz,” the statement further said, adding that Visa and Daraz users can enjoy a maximum discount of Rs 500 by pre-paying only via a Visa card that they have saved on the Daraz app. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">The discount offer can be used only once and includes all current Visa credit, debit and prepaid cards issued in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">“A collective effort is necessary in order to drive the development of the online card payment ecosystem in Nepal, and so, we are thrilled to collaborate with Visa. And with this initial offer, we want to provide our customers an added benefit for choosing the already more convenient and safe method of making online payments,” said Lino Ahlering, MD of Daraz Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">Shailesh Paul, head of Merchant Sales and Acquiring of Visa, said, “Digital payments and online shopping have become crucial in recent times, given the need for social distancing. We are delighted to partner with a leading ecommerce player like Daraz to provide their shoppers the convenience of paying online through a safe, secure medium. Our relationship with Daraz in multiple South Asian markets is proof of how established players can and should come together to enable and enhance shopping experiences for consumers.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12161', 'image' => '20200902070009_My Effect.jpg', 'article_date' => '2020-09-02 18:53:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12413', 'article_category_id' => '1', 'title' => 'Government Starts Issuing Labour Permit ', 'sub_title' => '', 'summary' => 'September 2: The government has started issuing labour permits to aspiring Nepali migrant workers at a time when the local administrations in different districts have imposed prohibitory orders to contain the spread of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 2: The government has started issuing labour permits to aspiring Nepali migrant workers at a time when the local administrations in different districts have imposed 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:"Bangla MN"">The Council of Ministers recently decided to issue new labour permits upon the recommendation of the Ministry of Labour, Employment and Social Security.</span></span></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"">Tahachal-based Labour Office has started issuing new labour permits from September 2, following the cabinet decision. This has opened door for Nepali citizens to go overseas for foreign employment by fulfilling all the safety standards to prevent 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:"Bangla MN"">Director General of the Department of Foreign Employment Kumar Prasad Dahal told New Business Age that they have started issuing labour permits as per the agreement with the respective labour destinations and their demand for labour.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The government had stopped issuing labour permits since February/March due to the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The new labour permits will be issued only through the Labour Office based in Tahachal. However, Dahal says those aspiring to go abroad to foreign countries for work are facing difficulty in arriving in Kathmandu to obtain the permit.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12160', 'image' => '20200902043527_1598998058.Clipboard07.jpg', 'article_date' => '2020-09-02 16:34:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12412', 'article_category_id' => '1', 'title' => 'Bangladesh Ready to Supply 50,000 Tons of Urea to Nepal: PM Oli', 'sub_title' => '', 'summary' => 'September 2: Prime Minister KP Oli has requested for help from his Bangladeshi counterpart Sheikh Hasina to supply urea at a time when the farmers across the country are facing acute shortage of chemical fertilizers. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 2: Prime Minister KP Oli has requested for help from his Bangladeshi counterpart Sheikh Hasina to supply urea at a time when the farmers across the country are facing acute shortage of chemical fertilizers. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">PM Oli sought help from Bangladesh during a telephone conversation with PM Hasina on Tuesday (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">Oli said in a tweet that he held talks with Bangladesh regarding the relation between the two countries. He added that Bangladeshi PM Hasina was positive toward his request to supply urea.</span></span></span></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 telephone conversation tool place at a time when Nepal had initiated the process to procure fertilizers from Bangladesh. Farmers are also in need of urea right now after completing plantation.</span></span></span></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 is preparing to borrow 50,000 tons of urea from Bangladesh at the moment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson for the Ministry of Agriculture and Livestock Development Hari Bahadur KC confirmed that that the government has initiated the process to borrow 50,000 tons of urea from Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the ministry, the government will receive 50,000 tons of urea from Bangladesh and instead paying for the fertilizer, the government will return the same amount next year. This agreement has been finalized after the telephone conversation between the two prime ministers, said a high-ranking government official.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12159', 'image' => '20200902034558_1598998127.Clipboard01.jpg', 'article_date' => '2020-09-02 15:45:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12411', 'article_category_id' => '1', 'title' => 'India Generating Rs 100 Billion Annually by Providing Transshipment Facilities to Nepal', 'sub_title' => 'Businesses of Indian Seaports, railway, and other means of transportation flourishing in Nepal', 'summary' => 'September 2: Two-third of Nepal’s international trade and 90 percent of the transit is dependent on India. Indian seaports, trains or other forms of land transportation are used for all of Nepal’s international trade.', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 2: Two-third of Nepal’s international trade and 90 percent of the transit is dependent on India. Indian seaports, trains or other forms of land transportation are used for all of Nepal’s international trade. The geographical advantage of the southern neighbor is also one of the reasons for Nepal’s dependence on India.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">India giving Nepal the access to its sea routes has be interpreted as an act of goodwill. However, the fact that this facility provided to Nepal is a great business opportunity for India is rarely discussed.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The right to access to the sea route that Nepal has received as a landlocked country has become a great business opportunity for India. The Indian government as well as the private sectors have been earning billions of rupees annually from this.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">A minimum of 1500 trucks enter Nepal from various customs points every day. Ashok Temani, the chairman of the Transport and Transshipment Committee under the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) says that one such truck that carry goods from various parts of India earn an average of Rs 160,000 per year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">If 450,000 trucks enter Nepal with goods, Nepalese businessmen have to pay Rs 70 billion just for the transportation every year.</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 Nepal Transit and Warehouse Company (NTWC), 180,000 containers entered Nepal through the Indian seaport in 2019/20. When these containers were being brought to Nepal, transportations through rails and land from the Indian ports also did a significant amount of business.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani says that the cost of transporting a container to Nepal by rail from seaports of Kolkata and Visakhapatman in India to Nepal is Rs 150,000 in average. NTWC says that 48,000 containers have been transported through road this year. An estimated amount of Rs 9 billion was spent while bringing in 60,000 containers through rail.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani claims that the cost of importing goods from Indian ports totals to Rs 100 billion annually after including other direct and indirect costs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“The business of Indian seaports, railways and other means of transportation has really flourished in India,” he says.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Government agencies haven’t yet studied the cost of transit of goods incurred during Nepal’s foreign trade. Ravi Shankar Sainju, former joint secretary of the Ministry of Industry, Commerce and Supplies, says that a separate study on the cost of transportation in trade is yet to be done. Government officials estimate that the cost of transit of goods is about 20 to 25 percent of the total trade.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Indian cargo trucks are permitted to stay in Nepal for 72 hours after entering through the customs points. This time is enough for the trucks to return after making their respective deliveries. Businessmen say that although arrangements have been made to allow Nepali trucks to enter through the points but there are still problems in the implementation of this arrangement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Indian means of cargo transportation get permissions from the checkpoints of the ports. However, this facility is not available for Nepali trucks. “Nepali transportation has been discouraged with various excuses to maintain the monopoly of the Indian cargo vehicles,” an official said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Joint Secretary Sainju believes that the cost of transit can be reduced by diversifying our dependence. “If we are able to increase the use of air transportation for the use of the northern ports, our dependence on India will decrease. It will also help in increasing competition,” he told New Business Age.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani claims that India’s dominance on cargo can be decreased with the promotion of Nepalese transportation businesses for carrying cargo. “The government should promote Nepali transportation business by introducing new policies. However, the government has not prioritized this concept.”</span></span></span></p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12158', 'image' => '20200902031757_1598998200.23.jpg', 'article_date' => '2020-09-02 15:17:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12410', 'article_category_id' => '1', 'title' => 'Petroleum Products Start Entering Nepal from Siliguri after 5 Months', 'sub_title' => '', 'summary' => 'September 2: Petroleum products have started entering Nepal from Panitanki of West Bengal state of India after almost five months. ', '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 2: Petroleum products have started entering Nepal from Panitanki of West Bengal state of India after almost five months. This route was closed due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Mechi Customs Office, Nepali tankers have already started bringing petrol and diesel from Siliguri.</span></span></span></span></p> <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 West Bengal state had closed this entry point for indefinite period of time as a precautionary measure. Currently, it has been partially opened. </span></span></span></span></p> <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, Indian cargo vehicles were allowed to enter Kakadbhitta of Nepal through this customs point, but those vehicles had to find another route to return back to India. This problem has not been resolved but the empty vehicles can enter India only from 8 am till 5 pm.</span></span></span></span></p> <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 the West Bengal government had eased vehicular movement from this transit point some time ago, petroleum product was not allowed until now.</span></span></span></span></p> <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 West Bengal government had closed this border on April 8 citing the risk posed by coronavirus. One month later, the state government opened one-way traffic for cargo vehicles to enter Nepal from May 9. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It was only on June 21 that the state government opened two-way traffic for import and export of selected products.</span></span></span></span></p> <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 obstruction in flow of goods and vehicles had affected revenue collection of the Mechi Customs Office. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12157', 'image' => '20200902015342_1598998328.Clipboard08.jpg', 'article_date' => '2020-09-02 13:53:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12409', 'article_category_id' => '1', 'title' => 'E-commerce Companies Resume Online Delivery Service', 'sub_title' => '', 'summary' => 'September 2: Online delivery service in the Kathmandu valley has resumed from Tuesday (September 1) after a brief interruption.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">September 2: Online delivery service in the Kathmandu valley has resumed from Tuesday (September 1) after a brief interruption.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Police had last week cracked down on online delivery service provided by e-commerce companies arguing that the delivery of goods during prohibitory period does not fall under essential service.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Altogether 65 delivery persons were briefly detained by the police on Thursday (August 27) and the companies were warned not to resume their service.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">However, under widespread criticism from all quarters of society</span><span style="font-size:14.0pt"><span style="font-family:Arial">, the </span></span><span style="font-size:14.0pt">District Administration Office, Kathmandu had formed a taskforce </span><span style="font-size:14.0pt"><span style="font-family:Arial">to prepare the criteria for allowing online delivery service in the capital. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Chief District Officer (CDO) of Kathmandu Janak Raj Dahal had formed a four-member committee headed by Assistant CDO Janak Raj Bhatta to prepare the criteria by Monday (August 31).</span></span></span></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 other members of the committee were chief of the Public Health Office, Kathmandu Badri Bahadur Khadka; Director of the Department of Commerce Sagar Mishra and DSP Dipendra Shah of Armed Police 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">The taskforce is yet to submit its report. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">But the e-commerce companies have already resumed their service from September 1 after issuing a joint statement which says that delivery of medicines, food items, cooking gas, fuel, vegetables, fruits, milk and milk products among others have not been prohibited by the District Administration Office. The statement says that their service does not contradict with the sixth point of prohibitory order issued by the District Administration Offices of Kathmandu, Lalitpur and Bhaktapur about two weeks 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">However, the DAO, Kathmandu says it is yet to lift the ban on online delivery service. According to an official at the DAO, they are preparing to allow online delivery service after the taskforce submits its report suggesting guidelines to follow for the e-commerce companies while rendering their service.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">On the other hand, the joint statement issued by the e-commerce companies mentions that there isn’t any need for prior approval to provide essential services.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12156', 'image' => '20200902115950_homedelivery.jpg', 'article_date' => '2020-09-02 11:59:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12408', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petrol', 'sub_title' => 'Price of Diesel, Kerosene and Cooking Gas Remains the Same', 'summary' => 'September 2: Nepal Oil Corporation (NOC) has increased the price effective from Tuesday midnight (September 1). ', '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 2: Nepal Oil Corporation (NOC) has increased the price effective from Tuesday midnight (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"">With the new price adjustment, petrol has become costlier by Rs 2 per litre. Petrol is not available for Rs 107 per litre according to the new price list published by NOC. </span></span></span></span></p> <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, the price of diesel, kerosene and cooking gas remains the same, NOC said in a statement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC said that the price was increased as per the new list provided by the Indian Oil Corporation.</span></span></span></span></p> <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 is the second time in two weeks that the state-owned oil monopoly has increased the price of petroleum products. The last time NOC had increased the price of petroleum products was on August 16. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12155', 'image' => '20200902103016_petrol_diesel_.jpg', 'article_date' => '2020-09-02 10:29:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12407', 'article_category_id' => '1', 'title' => 'Government Allows Import of Peas and Black Pepper Stuck at vairous Ports ', 'sub_title' => '', 'summary' => 'September 1: The government has decided to allow the import of peas and black pepper that have been stopped at the customs points. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 1: The government has decided to allow the import of peas and black pepper that have been stopped at the customs points. A cabinet meeting on Sunday, August 30, decided to allow the import of those peas and black pepper. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The food items are stuck at the customs points since the past five months because they were being imported without the prior approval of the Department of Food Technology and Quality Control.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government has decided to allow the import of only those peas and black pepper that were shipped before March 2020. Earlier a cabinet meeting held on April 30 had decided to ban the import of watermelon, chilly, dates and betel nut into 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:Calibri">Following the government's restriction, around 1,000 containers of unlicensed food were stranded at various ports including at Birgunj Dry Port and India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the government has already lifted bans on import of betel nuts. Likewise, the government has decided to allow exporters to take back the black pepper. </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 meantime, government has initiated the process for returning 60 containers of chilly from the Birgunj Dry Port.</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">Importers who are not willing to take back the peas and black peppers will be allowed to import the items. However, government is still unclear about what to do with the dates stuck at the checkpoint. According to the dry port’s customs office, about 100 containers of dates are stuck in the ports of Nepal and India.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12154', 'image' => '20200901042358_1598924714.Clipboard06.jpg', 'article_date' => '2020-09-01 16:23:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12406', 'article_category_id' => '1', 'title' => 'Experts Stress on Role of MSMEs to Rebound the Economy', 'sub_title' => '', 'summary' => 'September 1: Experts from India and Nepal stressed on the role that Micro, Small and Medium Enterprises (MSMEs) can play to rebound the economy that has been reeling under the crisis of Covid-19 and the extended lockdown in the region. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">September 1: Experts from India and Nepal stressed on the role that </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Micro, Small and Medium Enterprises (MSMEs) can play to rebound the economy that has been reeling under the crisis of Covid-19 and the extended lockdown in the region. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Senior Vice President of the PHD Chamber of Commerce and Industry (PHDCCI) Sanjay Aggrawal </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">said during a Webinar conference held on August 31 that it is high time that the MSMEs be given their space as the Covid-19 pandemic has made a firm ground for strengthening bilateral relations between India and Nepal and these business can play pivotal roles in economic rebounding.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Anil Khaitan, former president of PHDCCI, presented a global overview about the effect of the pandemic on the economy and the required response to mitigate the challenges being faced by MSMEs during the interaction organised jointly by </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Nepal SBI Bank Limited (NSBL) and PHDCCI under the aegis of India-Nepal Centre and the Confederation of Nepalese Industries (CNI).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“In these adverse times, it is utmost important that businesses adopt the ways for frugal innovation,” a joint statement issued by the organisers quoted him as saying.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Khaitan, the MSMEs need a clear definition that will be immensely helpful for letting them avail the market conditions efficiently. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Speaking at the same online interaction entitled ‘Enhancing Cooperation for MSMEs in Nepal’, CEO of Investment Board Nepal (IBN) Sushil Bhatta </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">highlighted the importance of MSME for Nepal's economy and job creation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He stressed on the need of creating awareness in MSMEs for the skill development,<br /> entrepreneurial advancement, innovative practices, new technology to give them a competitive edge at the regional and global platforms.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Bhatta also shed light on the challenges MSMEs are facing with the demand and supply shocks with the ongoing crisis emerged through the pandemic.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Governor of Nepal Rastra Bank</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman""> Maha Prasad Adhikari in his keynote speech called the MSMEs sector as the growth engine of Nepal’s economy. Highlighting on the recent policy measures, he assured the industry that Nepal’s MSMEs are on way to emerge stronger and can partner for registering positive outcomes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Similarly, Kapidjwaja Pratap Singh, commercial representatives at the Indian Embassy in Nepal, said many importers in India are dependent on exports of Nepal, making it a two-way flow of commodities between India and Nepal. He added that localised trade is happening at a fast pace. This shows the immense networking and supply chain management development by business between India and Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“In the recent past, the trade between India and Nepal has reached to around 85 percent peak of pre-Covid times both in terms of exports and imports,” said Singh. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Anukool Bhatnagar, MD and CEO of NSBL, in his presentation discussed financer's perspectives on the MSME's in Nepal. He presented a “nuanced view” on key pressing policy issues that are impacting the way banks are lending to MSMEs. While the credit gap is still there, Nepal has evolved as a country with robust ecosystem for the old and new businesses, he reportedly said. Bhatnagar also appreciated the regulatory measures of NRB that are particularly sensitive to the concerns of MSMEs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman""> Dr D K Aggarwal, president of PHDCCI, shared about India’s unique and deep relationship with Nepal. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12153', 'image' => '20200901023317_13202_DSC_0992 (1).jpg', 'article_date' => '2020-09-01 14:32:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12405', 'article_category_id' => '1', 'title' => 'Sanitizers Imported without Quality Check ', 'sub_title' => '', 'summary' => 'September 1: With the increase in coronavirus infection, the demand for sanitizer has skyrocketed. ', '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 1: With the increase in coronavirus infection, the demand for sanitizer has skyrocketed. Not only have domestic pharmaceutical industries started producing sanitizers, the imported sanitizers are also widely available in the market. However, the risk of infection has further increased as the sanitizers are imported without quality check. </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 Department of Drug Administration (DDA) has given permission to 40 pharmaceutical companies for the production of sanitizer since April. Among them, 30 have already started commercial production. Although Nepal Bureau of Standards and Metrology monitors the quality of sanitizers produced by the industries in Nepal, sanitizers are being imported from the customs points without quality inspection. </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 department has made a criteria for domestic industries that there should be 80 percent ethanol in the sanitizer. Regardless of this, the department is ignorant about the standard for the sanitizers that are being imported from countries including India and China. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to Ramesh Sukmani, officer at Birgunj Customs Office, there is no provision of ensuring the quality of sanitizer at customs points.</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""> “DDA has sent a letter to allow the import till mid-October,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Spokesperson of DDA Santosh KC informed that they have extended the time period for the importers to register the products from July to September.</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 time period has been extended after the importers said that it was difficult to present the documents due to the lockdown,” he told New Business Age. The department says that the quality will be monitored after registration of the products. </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"">A recent study by Nepal Academy of Science and Technology (NAST) found that 45 percent sanitizers that are available in the Nepali market are of poor quality. NAST warns of an increased risk of infection as such sanitizers cannot incapacitate the virus. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12152', 'image' => '20200901013444_1598909323.Clipboard15.jpg', 'article_date' => '2020-09-01 13:34:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12404', 'article_category_id' => '1', 'title' => 'Garment Industry of Nepal Struggling to Export their Product', 'sub_title' => 'Exporters Forced to Pay Four Times High Airfare', 'summary' => 'September 1: Readymade garment producers of Nepal are forced to pay four times high price for air tickets to export their products due to unavailability of flights amid Covid-19 pandemic.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 1: Readymade garment producers of Nepal are forced to pay four times high price for air tickets to export their products due to unavailability of flights amid Covid-19 pandemic. Regular flights have been halted since a long time to prevent the spread of coronavirus. So the exporters have no option to send the products through chartered flights operated for rescuing stranded Nepali citizens, which is much more costlier.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Readymade garments produced in Nepal are exported to countries like Germany, France, Hungary, Denmark, Italy, Norway as well as the USA, Australia and Canada. Europe is a major market for readymade garments made in Nepal. Out of the total readymade garments manufactured in Nepal, 70 percent is exported to Europe.</span></span></span></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 demand for readymade garments depends on the season. Therefore, the Nepali exporters say they have had to bear losses of more than Rs 1.25 billion for failing to deliver the goods on time.</span></span></span></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 manufacturers have to incur huge losses if they have to keep the products for the next 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">Therefore, the manufacturers are exporting products like shorts, trousers, pants and ladies wear to selected European countries by paying exceptionally high airfare, informed Ashok Agrawal, general secretary of Garment Association of Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that they have no option other than to pay four times higher to export the goods through chartered flights.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, Nepali exporters had been exporting goods for 2 dollar per kilogram. But the cost has gone up to 8 dollars per kg at present.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“It is better to pay high price than to face loss due to delay in delivery, which often causes irreparable damage because the season gets over by that time,” says Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the association, there were 1200 garment factories in Nepal which provided employment to more than 100,000 people about 15 years ago. However, there are currently only 50 such factories across the country and they provide employment to 8,000 people.</span></span></span></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 garment industry of Nepal had done transactions worth Rs 7 billion during last fiscal year, but the association fears that the figure might take a nosedive 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:Arial">The garment industries are operating at 20 percent capacity after the lockdown was imposed on March 24. On top of that, they are struggling to export the manufactured products.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12151', 'image' => '20200901114856_1598909272.4.jpg', 'article_date' => '2020-09-01 11:48:03', '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' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 3: The number of people blacklisted by banks and financial institutions (BFIs) has increased during the period of coronavirus pandemic. People who have written cheques with insufficient balance in their accounts have been listed in the blacklist more than the debtors.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Data from the Credit Information Centre shows that 10,732 people have been added to the blacklist from mid-March to mid-August. There are 13,024 people in the blacklist. A total of 9,626 people were added in the month of Ashad (mid-June to mid-July) alone. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Similarly, the number of people blacklisted in the month of Baishakh (mid-April to mid-May) was 26 followed by 89 in Jestha (mid-May to mid-June), 137 in Shrawan (mid-July to mid-August) and 168 in Bhadra (August end).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Anil Adhikari, the Chief Executive Officer of Credit Information Centre, said that international organizations like the World Bank and the International Finance Corporation have also inquired about the increase in the number of blacklisted people. He said that confusions were created because the data published by the Centre contained the names of not just debtors but also the people with bounced cheques.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank (NRB) has made an arrangement through the integrated directive issued in Bhadra 2076 to blacklist a person, firm, company or an organization if they sign their cheque incorrectly or have insufficient balance in their account and do not make the payment within a week. Previously, only the people with repetitive bounced cheques were blacklisted. The Centre says that while the number of debtors with non-performing loans has gone down, the number of people with bounced cheques has increased in the blacklist. According to the Centre, 65% i.e. 6,500 people have been enlisted in the blacklist because of bounced cheques. The Chief Executive Officer Adhikari says that the remaining 35% are debtors being monitored because of bad debts or non-performing loans.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“All of the people listed in the blacklist have signed bounced cheques. Most of them have bounced cheques ranging from Rs 1,000 to Rs 10,000,” Adhikari told New Business Age, adding, “After many failed attempts of trying to get their money from the cheques, people submit an application to the bank, requesting to add their creditor to the blacklist. On this basis, the banks submit the names of their customers with bounced cheques and we add them to the blacklist.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He added that we will be able to observe the rate of increment of people in the blacklist after the end of the exemptions provided by Nepal Rastra Bank. CEO Adhikari estimates that the number of people in the blacklist due to bad debts will increase after about 4 months.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank has arranged discounts to severely affected, medium affected and less affected businesses as they were affected by the lockdown enforced because of the coronavirus pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman of the Nepal Bankers' Association Bhuwan Dahal said that many debtors have been saved from being added to the blacklist because of the extension in the loan payment period by the central bank. According to him, the reason for the lesser number of debtors in the blacklist is also the exemption given by the central bank to the banks and finance companies to classify the loans given after the end of Poush 2076 (mid-January 2020) till the end of Ashad 2077 (mid-July 2020) as good loans. </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 this arrangement, the debtors who had non-performing loans or bad debts before the end of Poush, 2076 have been added to the blacklist. If the economy improves after the exemption period finishes, we can expect the number of blacklisted debtors to decrease,” 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">BFIs are not allowed to provide loans to blacklisted debtors. In case a loan is given to them, there is a policy that automatically considers this loan a bad debt. In addition, a blacklisted person may also not to be able to get various benefits provided by the state.</span></span></span></p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12165', 'image' => '20200903031423_1596058689.Clipboard01.jpg', 'article_date' => '2020-09-03 15:13:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12417', 'article_category_id' => '1', 'title' => 'Multinational Company Nielsen Nepal in Liquidation Process', 'sub_title' => '', 'summary' => 'September 3: Nielsen Nepal Private Limited, a leading multinational market research company in Nepal, is in the process of liquidation.', '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: Nielsen Nepal Private Limited, a leading multinational market research company in Nepal, is in the process of liquidation. Multinational company Nielsen Holdings, which has 100 percent stake on Nielsen Nepal, had decided to close its office in Nepal on June 30.</span></span></span></span></p> <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 company is likely to complete the liquidation process within September 30. A source at the company informed New Business Age that they have completed all internal the paper works for liquidation and is only awaiting the formal process to complete within this month. The liquidation process has been pushed back by the prohibitory order issued by the District Administration Office of the Kathmandu Valley, the source further 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"">Nielsen Nepal had been involved in market research in Nepal since 1993. However, the company was unable to carry its business as expected during recent months. The coronavirus pandemic further aggravated the problems of the company after which it decided to go for liquidation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Besides Nepal, Nielsen Holdings has decided to close its offices in four other countries as well.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">New York-based Nielsen Holdings is an internationally renowned data analysis company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nielsen Nepal had been conducting market research, social research and retail measurement services. However, due to bleak prospects in these areas, the company decided to close its office in Nepal, it has been learnt.</span></span></span></span></p> <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 company found that its expenses in Nepal were more than the income it has been making, the source said. Nielsen Holdings is reportedly investing in only those countries where there is high return.</span></span></span></span></p> <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 multinational companies like Surya Nepal, Unilever Nepal among others used to hire Nielsen Nepal for market research. </span></span></span></span></p> <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 the decision to close the company in Nepal, more than 60 full-time workers and over 200 independent researchers associated with the company have lost their jobs.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Four of the staffers of the company have set up a new company named Mark Data Nepal, which is similar in nature to Nielsen Nepal.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12164', 'image' => '20200903022731_508672712_1517483463.jpg', 'article_date' => '2020-09-03 14:26:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12416', 'article_category_id' => '1', 'title' => 'Government Directs Air Arabia to Refund Passengers', 'sub_title' => 'Commercial Flights Resume from September 2', 'summary' => 'September 3: The government has directed Air Arabia to refund the additional charges it collected from passengers during a recent flight. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 3: The government has directed Air Arabia to refund the additional charges it collected from passengers during a recent flight. </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:"Arial Unicode MS"">The government issued such directive during a regular meeting at the Ministry of Culture, Tourism and Civil Aviation on Wednesday (September 2) following complaints of excessive charge by the airline company during a recent flight.</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:"Arial Unicode MS"">The airline company has been accused of charging extra amount to 142 out of 161 passengers who travelled to Nepal from Sharjah of the UAE in an Air Arabia flight on August 25. </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:"Arial Unicode MS"">The airliner had carried 142 passengers who underwent Polymerase Chain Reaction (PCR) tests, 18 who had done Rapid Diagnostic Test (RDT) and one without any test to Nepal and kept them in hotel quarantine. The airline company allegedly charged the amount for their stay in hotel while selling the tickets but the passengers later had to pay the hotel bill themselves. Following complaints that the passengers were duped by the company and had to pay twice for the service, the ministry directed the airline company to foot the bill. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai has instructed the concerned authorities to take action against the airline company if it refuses to refund the amount. Likewise, the ministry has also requested international airline companies not to charge any additional amount to the passengers during the current 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:"Arial Unicode MS"">Travel agencies have been blamed for taking advantage of the current situation while selling tickets due to the unavailability of regular flights. Minister Bhattarai opined that the airline companies must regulate the black marketing. He added that the ministry will coordinate with Nepal’s diplomatic missions abroad and the non-residential Nepalis to control the black market of air tickets.</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:"Arial Unicode MS"">Meanwhile, international commercial flights resumed in Nepal from Wednesday (September 2) after a gap of almost five months. The government had earlier decided to resume regular flights from September 2 by following the required safety protocols to prevent the spread of Covid-19.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12163', 'image' => '20200903010406_1599085733.Clipboard14.jpg', 'article_date' => '2020-09-03 13:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12415', 'article_category_id' => '1', 'title' => ' Prohibitory Order in Kathmandu Valley Extended by One Week', 'sub_title' => '', 'summary' => 'September 3: Government authorities have extended the prohibitory order in the Kathmandu valley by another seven days. ', '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: Government authorities have extended the prohibitory order in the Kathmandu valley by another seven days. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the latest decision taken by the chief district officers Kathmandu, Lalitpur and Bhaktapur, the prohibitory order will remain in effect till midnight of September 9. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, the district administration offices of the three districts in the valley have eased the restrictions to some extent this time.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">From now onwards, groceries and other shops selling fruits, vegetables and milk can remain open till 11 am in the morning. Meanwhile, shops selling drinking water can open throughout the day. There are no restrictions for pharmaceutical shops. </span></span></span></span></p> <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, any person entering Kathmandu for emergency purpose needs to mandatorily present a PCR report with negative result.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is also mandatory for the people to wear mask in public places.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Likewise, staffers providing essential services will be allowed to commute between 9 to 10.30 in the morning and 3 to 5 pm in the evening.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions (BFIs) can operate by maintaining safety protocols and deploying minimum staffers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Hotels and restaurants will remain completely shut during the extended period of the prohibitory order. Road-side vendors have also not been permitted to resume their business.</span></span></span></span></p> <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 district administration offices of Kathmandu, Lalitpur and Bhaktapur had imposed the prohibitory order on August 19 after a rapid increase in coronavirus cases in the valley. The prohibitory order has been extended twice and this is the third week of restriction.</span></span></span></span></p> <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 District Administration Office, Kathmandu informed New Business Age that they decided to slightly change the modality of the prohibitory order after consulting with the concerned stakeholders, including the business community, health experts and the local representatives.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12162', 'image' => '20200903113103_1599056781.jpg', 'article_date' => '2020-09-03 11:30:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12414', 'article_category_id' => '1', 'title' => 'Daraz Offers Discount to Visa Card Holders', 'sub_title' => '', 'summary' => 'September 2: Daraz, an online shopping marketplace of Nepal, has entered into a partnership with Visa, a global leader in digital payments technology, to drive forward online card payments in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">September 2: Daraz, an online shopping marketplace of Nepal, has entered into a partnership with Visa, a global leader in digital payments technology, to drive forward online card payments in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">Daraz </span><span style="font-size:14.0pt">and Visa are offering Visa card holders a 15 percent discount on prepayments till September 30, reads a joint statement issued by the two companies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">“Customers can choose anything amongst 450,000 products ranging from electronics, groceries, lifestyle to fashion sold by more than 5,000 sellers on Daraz,” the statement further said, adding that Visa and Daraz users can enjoy a maximum discount of Rs 500 by pre-paying only via a Visa card that they have saved on the Daraz app. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">The discount offer can be used only once and includes all current Visa credit, debit and prepaid cards issued in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">“A collective effort is necessary in order to drive the development of the online card payment ecosystem in Nepal, and so, we are thrilled to collaborate with Visa. And with this initial offer, we want to provide our customers an added benefit for choosing the already more convenient and safe method of making online payments,” said Lino Ahlering, MD of Daraz Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">Shailesh Paul, head of Merchant Sales and Acquiring of Visa, said, “Digital payments and online shopping have become crucial in recent times, given the need for social distancing. We are delighted to partner with a leading ecommerce player like Daraz to provide their shoppers the convenience of paying online through a safe, secure medium. Our relationship with Daraz in multiple South Asian markets is proof of how established players can and should come together to enable and enhance shopping experiences for consumers.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12161', 'image' => '20200902070009_My Effect.jpg', 'article_date' => '2020-09-02 18:53:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12413', 'article_category_id' => '1', 'title' => 'Government Starts Issuing Labour Permit ', 'sub_title' => '', 'summary' => 'September 2: The government has started issuing labour permits to aspiring Nepali migrant workers at a time when the local administrations in different districts have imposed prohibitory orders to contain the spread of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 2: The government has started issuing labour permits to aspiring Nepali migrant workers at a time when the local administrations in different districts have imposed 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:"Bangla MN"">The Council of Ministers recently decided to issue new labour permits upon the recommendation of the Ministry of Labour, Employment and Social Security.</span></span></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"">Tahachal-based Labour Office has started issuing new labour permits from September 2, following the cabinet decision. This has opened door for Nepali citizens to go overseas for foreign employment by fulfilling all the safety standards to prevent 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:"Bangla MN"">Director General of the Department of Foreign Employment Kumar Prasad Dahal told New Business Age that they have started issuing labour permits as per the agreement with the respective labour destinations and their demand for labour.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The government had stopped issuing labour permits since February/March due to the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The new labour permits will be issued only through the Labour Office based in Tahachal. However, Dahal says those aspiring to go abroad to foreign countries for work are facing difficulty in arriving in Kathmandu to obtain the permit.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12160', 'image' => '20200902043527_1598998058.Clipboard07.jpg', 'article_date' => '2020-09-02 16:34:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12412', 'article_category_id' => '1', 'title' => 'Bangladesh Ready to Supply 50,000 Tons of Urea to Nepal: PM Oli', 'sub_title' => '', 'summary' => 'September 2: Prime Minister KP Oli has requested for help from his Bangladeshi counterpart Sheikh Hasina to supply urea at a time when the farmers across the country are facing acute shortage of chemical fertilizers. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 2: Prime Minister KP Oli has requested for help from his Bangladeshi counterpart Sheikh Hasina to supply urea at a time when the farmers across the country are facing acute shortage of chemical fertilizers. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">PM Oli sought help from Bangladesh during a telephone conversation with PM Hasina on Tuesday (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">Oli said in a tweet that he held talks with Bangladesh regarding the relation between the two countries. He added that Bangladeshi PM Hasina was positive toward his request to supply urea.</span></span></span></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 telephone conversation tool place at a time when Nepal had initiated the process to procure fertilizers from Bangladesh. Farmers are also in need of urea right now after completing plantation.</span></span></span></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 is preparing to borrow 50,000 tons of urea from Bangladesh at the moment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson for the Ministry of Agriculture and Livestock Development Hari Bahadur KC confirmed that that the government has initiated the process to borrow 50,000 tons of urea from Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the ministry, the government will receive 50,000 tons of urea from Bangladesh and instead paying for the fertilizer, the government will return the same amount next year. This agreement has been finalized after the telephone conversation between the two prime ministers, said a high-ranking government official.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12159', 'image' => '20200902034558_1598998127.Clipboard01.jpg', 'article_date' => '2020-09-02 15:45:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12411', 'article_category_id' => '1', 'title' => 'India Generating Rs 100 Billion Annually by Providing Transshipment Facilities to Nepal', 'sub_title' => 'Businesses of Indian Seaports, railway, and other means of transportation flourishing in Nepal', 'summary' => 'September 2: Two-third of Nepal’s international trade and 90 percent of the transit is dependent on India. Indian seaports, trains or other forms of land transportation are used for all of Nepal’s international trade.', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 2: Two-third of Nepal’s international trade and 90 percent of the transit is dependent on India. Indian seaports, trains or other forms of land transportation are used for all of Nepal’s international trade. The geographical advantage of the southern neighbor is also one of the reasons for Nepal’s dependence on India.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">India giving Nepal the access to its sea routes has be interpreted as an act of goodwill. However, the fact that this facility provided to Nepal is a great business opportunity for India is rarely discussed.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The right to access to the sea route that Nepal has received as a landlocked country has become a great business opportunity for India. The Indian government as well as the private sectors have been earning billions of rupees annually from this.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">A minimum of 1500 trucks enter Nepal from various customs points every day. Ashok Temani, the chairman of the Transport and Transshipment Committee under the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) says that one such truck that carry goods from various parts of India earn an average of Rs 160,000 per year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">If 450,000 trucks enter Nepal with goods, Nepalese businessmen have to pay Rs 70 billion just for the transportation every year.</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 Nepal Transit and Warehouse Company (NTWC), 180,000 containers entered Nepal through the Indian seaport in 2019/20. When these containers were being brought to Nepal, transportations through rails and land from the Indian ports also did a significant amount of business.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani says that the cost of transporting a container to Nepal by rail from seaports of Kolkata and Visakhapatman in India to Nepal is Rs 150,000 in average. NTWC says that 48,000 containers have been transported through road this year. An estimated amount of Rs 9 billion was spent while bringing in 60,000 containers through rail.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani claims that the cost of importing goods from Indian ports totals to Rs 100 billion annually after including other direct and indirect costs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“The business of Indian seaports, railways and other means of transportation has really flourished in India,” he says.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Government agencies haven’t yet studied the cost of transit of goods incurred during Nepal’s foreign trade. Ravi Shankar Sainju, former joint secretary of the Ministry of Industry, Commerce and Supplies, says that a separate study on the cost of transportation in trade is yet to be done. Government officials estimate that the cost of transit of goods is about 20 to 25 percent of the total trade.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Indian cargo trucks are permitted to stay in Nepal for 72 hours after entering through the customs points. This time is enough for the trucks to return after making their respective deliveries. Businessmen say that although arrangements have been made to allow Nepali trucks to enter through the points but there are still problems in the implementation of this arrangement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Indian means of cargo transportation get permissions from the checkpoints of the ports. However, this facility is not available for Nepali trucks. “Nepali transportation has been discouraged with various excuses to maintain the monopoly of the Indian cargo vehicles,” an official said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Joint Secretary Sainju believes that the cost of transit can be reduced by diversifying our dependence. “If we are able to increase the use of air transportation for the use of the northern ports, our dependence on India will decrease. It will also help in increasing competition,” he told New Business Age.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani claims that India’s dominance on cargo can be decreased with the promotion of Nepalese transportation businesses for carrying cargo. “The government should promote Nepali transportation business by introducing new policies. However, the government has not prioritized this concept.”</span></span></span></p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12158', 'image' => '20200902031757_1598998200.23.jpg', 'article_date' => '2020-09-02 15:17:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12410', 'article_category_id' => '1', 'title' => 'Petroleum Products Start Entering Nepal from Siliguri after 5 Months', 'sub_title' => '', 'summary' => 'September 2: Petroleum products have started entering Nepal from Panitanki of West Bengal state of India after almost five months. ', '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 2: Petroleum products have started entering Nepal from Panitanki of West Bengal state of India after almost five months. This route was closed due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Mechi Customs Office, Nepali tankers have already started bringing petrol and diesel from Siliguri.</span></span></span></span></p> <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 West Bengal state had closed this entry point for indefinite period of time as a precautionary measure. Currently, it has been partially opened. </span></span></span></span></p> <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, Indian cargo vehicles were allowed to enter Kakadbhitta of Nepal through this customs point, but those vehicles had to find another route to return back to India. This problem has not been resolved but the empty vehicles can enter India only from 8 am till 5 pm.</span></span></span></span></p> <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 the West Bengal government had eased vehicular movement from this transit point some time ago, petroleum product was not allowed until now.</span></span></span></span></p> <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 West Bengal government had closed this border on April 8 citing the risk posed by coronavirus. One month later, the state government opened one-way traffic for cargo vehicles to enter Nepal from May 9. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It was only on June 21 that the state government opened two-way traffic for import and export of selected products.</span></span></span></span></p> <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 obstruction in flow of goods and vehicles had affected revenue collection of the Mechi Customs Office. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12157', 'image' => '20200902015342_1598998328.Clipboard08.jpg', 'article_date' => '2020-09-02 13:53:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12409', 'article_category_id' => '1', 'title' => 'E-commerce Companies Resume Online Delivery Service', 'sub_title' => '', 'summary' => 'September 2: Online delivery service in the Kathmandu valley has resumed from Tuesday (September 1) after a brief interruption.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">September 2: Online delivery service in the Kathmandu valley has resumed from Tuesday (September 1) after a brief interruption.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Police had last week cracked down on online delivery service provided by e-commerce companies arguing that the delivery of goods during prohibitory period does not fall under essential service.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Altogether 65 delivery persons were briefly detained by the police on Thursday (August 27) and the companies were warned not to resume their service.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">However, under widespread criticism from all quarters of society</span><span style="font-size:14.0pt"><span style="font-family:Arial">, the </span></span><span style="font-size:14.0pt">District Administration Office, Kathmandu had formed a taskforce </span><span style="font-size:14.0pt"><span style="font-family:Arial">to prepare the criteria for allowing online delivery service in the capital. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Chief District Officer (CDO) of Kathmandu Janak Raj Dahal had formed a four-member committee headed by Assistant CDO Janak Raj Bhatta to prepare the criteria by Monday (August 31).</span></span></span></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 other members of the committee were chief of the Public Health Office, Kathmandu Badri Bahadur Khadka; Director of the Department of Commerce Sagar Mishra and DSP Dipendra Shah of Armed Police 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">The taskforce is yet to submit its report. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">But the e-commerce companies have already resumed their service from September 1 after issuing a joint statement which says that delivery of medicines, food items, cooking gas, fuel, vegetables, fruits, milk and milk products among others have not been prohibited by the District Administration Office. The statement says that their service does not contradict with the sixth point of prohibitory order issued by the District Administration Offices of Kathmandu, Lalitpur and Bhaktapur about two weeks 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">However, the DAO, Kathmandu says it is yet to lift the ban on online delivery service. According to an official at the DAO, they are preparing to allow online delivery service after the taskforce submits its report suggesting guidelines to follow for the e-commerce companies while rendering their service.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">On the other hand, the joint statement issued by the e-commerce companies mentions that there isn’t any need for prior approval to provide essential services.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12156', 'image' => '20200902115950_homedelivery.jpg', 'article_date' => '2020-09-02 11:59:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12408', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petrol', 'sub_title' => 'Price of Diesel, Kerosene and Cooking Gas Remains the Same', 'summary' => 'September 2: Nepal Oil Corporation (NOC) has increased the price effective from Tuesday midnight (September 1). ', '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 2: Nepal Oil Corporation (NOC) has increased the price effective from Tuesday midnight (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"">With the new price adjustment, petrol has become costlier by Rs 2 per litre. Petrol is not available for Rs 107 per litre according to the new price list published by NOC. </span></span></span></span></p> <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, the price of diesel, kerosene and cooking gas remains the same, NOC said in a statement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC said that the price was increased as per the new list provided by the Indian Oil Corporation.</span></span></span></span></p> <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 is the second time in two weeks that the state-owned oil monopoly has increased the price of petroleum products. The last time NOC had increased the price of petroleum products was on August 16. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12155', 'image' => '20200902103016_petrol_diesel_.jpg', 'article_date' => '2020-09-02 10:29:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12407', 'article_category_id' => '1', 'title' => 'Government Allows Import of Peas and Black Pepper Stuck at vairous Ports ', 'sub_title' => '', 'summary' => 'September 1: The government has decided to allow the import of peas and black pepper that have been stopped at the customs points. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 1: The government has decided to allow the import of peas and black pepper that have been stopped at the customs points. A cabinet meeting on Sunday, August 30, decided to allow the import of those peas and black pepper. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The food items are stuck at the customs points since the past five months because they were being imported without the prior approval of the Department of Food Technology and Quality Control.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government has decided to allow the import of only those peas and black pepper that were shipped before March 2020. Earlier a cabinet meeting held on April 30 had decided to ban the import of watermelon, chilly, dates and betel nut into 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:Calibri">Following the government's restriction, around 1,000 containers of unlicensed food were stranded at various ports including at Birgunj Dry Port and India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the government has already lifted bans on import of betel nuts. Likewise, the government has decided to allow exporters to take back the black pepper. </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 meantime, government has initiated the process for returning 60 containers of chilly from the Birgunj Dry Port.</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">Importers who are not willing to take back the peas and black peppers will be allowed to import the items. However, government is still unclear about what to do with the dates stuck at the checkpoint. According to the dry port’s customs office, about 100 containers of dates are stuck in the ports of Nepal and India.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12154', 'image' => '20200901042358_1598924714.Clipboard06.jpg', 'article_date' => '2020-09-01 16:23:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12406', 'article_category_id' => '1', 'title' => 'Experts Stress on Role of MSMEs to Rebound the Economy', 'sub_title' => '', 'summary' => 'September 1: Experts from India and Nepal stressed on the role that Micro, Small and Medium Enterprises (MSMEs) can play to rebound the economy that has been reeling under the crisis of Covid-19 and the extended lockdown in the region. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">September 1: Experts from India and Nepal stressed on the role that </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Micro, Small and Medium Enterprises (MSMEs) can play to rebound the economy that has been reeling under the crisis of Covid-19 and the extended lockdown in the region. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Senior Vice President of the PHD Chamber of Commerce and Industry (PHDCCI) Sanjay Aggrawal </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">said during a Webinar conference held on August 31 that it is high time that the MSMEs be given their space as the Covid-19 pandemic has made a firm ground for strengthening bilateral relations between India and Nepal and these business can play pivotal roles in economic rebounding.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Anil Khaitan, former president of PHDCCI, presented a global overview about the effect of the pandemic on the economy and the required response to mitigate the challenges being faced by MSMEs during the interaction organised jointly by </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Nepal SBI Bank Limited (NSBL) and PHDCCI under the aegis of India-Nepal Centre and the Confederation of Nepalese Industries (CNI).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“In these adverse times, it is utmost important that businesses adopt the ways for frugal innovation,” a joint statement issued by the organisers quoted him as saying.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Khaitan, the MSMEs need a clear definition that will be immensely helpful for letting them avail the market conditions efficiently. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Speaking at the same online interaction entitled ‘Enhancing Cooperation for MSMEs in Nepal’, CEO of Investment Board Nepal (IBN) Sushil Bhatta </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">highlighted the importance of MSME for Nepal's economy and job creation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He stressed on the need of creating awareness in MSMEs for the skill development,<br /> entrepreneurial advancement, innovative practices, new technology to give them a competitive edge at the regional and global platforms.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Bhatta also shed light on the challenges MSMEs are facing with the demand and supply shocks with the ongoing crisis emerged through the pandemic.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Governor of Nepal Rastra Bank</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman""> Maha Prasad Adhikari in his keynote speech called the MSMEs sector as the growth engine of Nepal’s economy. Highlighting on the recent policy measures, he assured the industry that Nepal’s MSMEs are on way to emerge stronger and can partner for registering positive outcomes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Similarly, Kapidjwaja Pratap Singh, commercial representatives at the Indian Embassy in Nepal, said many importers in India are dependent on exports of Nepal, making it a two-way flow of commodities between India and Nepal. He added that localised trade is happening at a fast pace. This shows the immense networking and supply chain management development by business between India and Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“In the recent past, the trade between India and Nepal has reached to around 85 percent peak of pre-Covid times both in terms of exports and imports,” said Singh. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Anukool Bhatnagar, MD and CEO of NSBL, in his presentation discussed financer's perspectives on the MSME's in Nepal. He presented a “nuanced view” on key pressing policy issues that are impacting the way banks are lending to MSMEs. While the credit gap is still there, Nepal has evolved as a country with robust ecosystem for the old and new businesses, he reportedly said. Bhatnagar also appreciated the regulatory measures of NRB that are particularly sensitive to the concerns of MSMEs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman""> Dr D K Aggarwal, president of PHDCCI, shared about India’s unique and deep relationship with Nepal. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12153', 'image' => '20200901023317_13202_DSC_0992 (1).jpg', 'article_date' => '2020-09-01 14:32:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12405', 'article_category_id' => '1', 'title' => 'Sanitizers Imported without Quality Check ', 'sub_title' => '', 'summary' => 'September 1: With the increase in coronavirus infection, the demand for sanitizer has skyrocketed. ', '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 1: With the increase in coronavirus infection, the demand for sanitizer has skyrocketed. Not only have domestic pharmaceutical industries started producing sanitizers, the imported sanitizers are also widely available in the market. However, the risk of infection has further increased as the sanitizers are imported without quality check. </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 Department of Drug Administration (DDA) has given permission to 40 pharmaceutical companies for the production of sanitizer since April. Among them, 30 have already started commercial production. Although Nepal Bureau of Standards and Metrology monitors the quality of sanitizers produced by the industries in Nepal, sanitizers are being imported from the customs points without quality inspection. </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 department has made a criteria for domestic industries that there should be 80 percent ethanol in the sanitizer. Regardless of this, the department is ignorant about the standard for the sanitizers that are being imported from countries including India and China. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to Ramesh Sukmani, officer at Birgunj Customs Office, there is no provision of ensuring the quality of sanitizer at customs points.</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""> “DDA has sent a letter to allow the import till mid-October,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Spokesperson of DDA Santosh KC informed that they have extended the time period for the importers to register the products from July to September.</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 time period has been extended after the importers said that it was difficult to present the documents due to the lockdown,” he told New Business Age. The department says that the quality will be monitored after registration of the products. </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"">A recent study by Nepal Academy of Science and Technology (NAST) found that 45 percent sanitizers that are available in the Nepali market are of poor quality. NAST warns of an increased risk of infection as such sanitizers cannot incapacitate the virus. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12152', 'image' => '20200901013444_1598909323.Clipboard15.jpg', 'article_date' => '2020-09-01 13:34:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12404', 'article_category_id' => '1', 'title' => 'Garment Industry of Nepal Struggling to Export their Product', 'sub_title' => 'Exporters Forced to Pay Four Times High Airfare', 'summary' => 'September 1: Readymade garment producers of Nepal are forced to pay four times high price for air tickets to export their products due to unavailability of flights amid Covid-19 pandemic.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 1: Readymade garment producers of Nepal are forced to pay four times high price for air tickets to export their products due to unavailability of flights amid Covid-19 pandemic. Regular flights have been halted since a long time to prevent the spread of coronavirus. So the exporters have no option to send the products through chartered flights operated for rescuing stranded Nepali citizens, which is much more costlier.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Readymade garments produced in Nepal are exported to countries like Germany, France, Hungary, Denmark, Italy, Norway as well as the USA, Australia and Canada. Europe is a major market for readymade garments made in Nepal. Out of the total readymade garments manufactured in Nepal, 70 percent is exported to Europe.</span></span></span></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 demand for readymade garments depends on the season. Therefore, the Nepali exporters say they have had to bear losses of more than Rs 1.25 billion for failing to deliver the goods on time.</span></span></span></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 manufacturers have to incur huge losses if they have to keep the products for the next 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">Therefore, the manufacturers are exporting products like shorts, trousers, pants and ladies wear to selected European countries by paying exceptionally high airfare, informed Ashok Agrawal, general secretary of Garment Association of Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that they have no option other than to pay four times higher to export the goods through chartered flights.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, Nepali exporters had been exporting goods for 2 dollar per kilogram. But the cost has gone up to 8 dollars per kg at present.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“It is better to pay high price than to face loss due to delay in delivery, which often causes irreparable damage because the season gets over by that time,” says Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the association, there were 1200 garment factories in Nepal which provided employment to more than 100,000 people about 15 years ago. However, there are currently only 50 such factories across the country and they provide employment to 8,000 people.</span></span></span></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 garment industry of Nepal had done transactions worth Rs 7 billion during last fiscal year, but the association fears that the figure might take a nosedive 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:Arial">The garment industries are operating at 20 percent capacity after the lockdown was imposed on March 24. On top of that, they are struggling to export the manufactured products.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12151', 'image' => '20200901114856_1598909272.4.jpg', 'article_date' => '2020-09-01 11:48:03', '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' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 3: The number of people blacklisted by banks and financial institutions (BFIs) has increased during the period of coronavirus pandemic. People who have written cheques with insufficient balance in their accounts have been listed in the blacklist more than the debtors.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Data from the Credit Information Centre shows that 10,732 people have been added to the blacklist from mid-March to mid-August. There are 13,024 people in the blacklist. A total of 9,626 people were added in the month of Ashad (mid-June to mid-July) alone. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Similarly, the number of people blacklisted in the month of Baishakh (mid-April to mid-May) was 26 followed by 89 in Jestha (mid-May to mid-June), 137 in Shrawan (mid-July to mid-August) and 168 in Bhadra (August end).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Anil Adhikari, the Chief Executive Officer of Credit Information Centre, said that international organizations like the World Bank and the International Finance Corporation have also inquired about the increase in the number of blacklisted people. He said that confusions were created because the data published by the Centre contained the names of not just debtors but also the people with bounced cheques.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank (NRB) has made an arrangement through the integrated directive issued in Bhadra 2076 to blacklist a person, firm, company or an organization if they sign their cheque incorrectly or have insufficient balance in their account and do not make the payment within a week. Previously, only the people with repetitive bounced cheques were blacklisted. The Centre says that while the number of debtors with non-performing loans has gone down, the number of people with bounced cheques has increased in the blacklist. According to the Centre, 65% i.e. 6,500 people have been enlisted in the blacklist because of bounced cheques. The Chief Executive Officer Adhikari says that the remaining 35% are debtors being monitored because of bad debts or non-performing loans.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“All of the people listed in the blacklist have signed bounced cheques. Most of them have bounced cheques ranging from Rs 1,000 to Rs 10,000,” Adhikari told New Business Age, adding, “After many failed attempts of trying to get their money from the cheques, people submit an application to the bank, requesting to add their creditor to the blacklist. On this basis, the banks submit the names of their customers with bounced cheques and we add them to the blacklist.”</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">He added that we will be able to observe the rate of increment of people in the blacklist after the end of the exemptions provided by Nepal Rastra Bank. CEO Adhikari estimates that the number of people in the blacklist due to bad debts will increase after about 4 months.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Nepal Rastra Bank has arranged discounts to severely affected, medium affected and less affected businesses as they were affected by the lockdown enforced because of the coronavirus pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman of the Nepal Bankers' Association Bhuwan Dahal said that many debtors have been saved from being added to the blacklist because of the extension in the loan payment period by the central bank. According to him, the reason for the lesser number of debtors in the blacklist is also the exemption given by the central bank to the banks and finance companies to classify the loans given after the end of Poush 2076 (mid-January 2020) till the end of Ashad 2077 (mid-July 2020) as good loans. </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 this arrangement, the debtors who had non-performing loans or bad debts before the end of Poush, 2076 have been added to the blacklist. If the economy improves after the exemption period finishes, we can expect the number of blacklisted debtors to decrease,” 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">BFIs are not allowed to provide loans to blacklisted debtors. In case a loan is given to them, there is a policy that automatically considers this loan a bad debt. In addition, a blacklisted person may also not to be able to get various benefits provided by the state.</span></span></span></p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12165', 'image' => '20200903031423_1596058689.Clipboard01.jpg', 'article_date' => '2020-09-03 15:13:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12417', 'article_category_id' => '1', 'title' => 'Multinational Company Nielsen Nepal in Liquidation Process', 'sub_title' => '', 'summary' => 'September 3: Nielsen Nepal Private Limited, a leading multinational market research company in Nepal, is in the process of liquidation.', '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: Nielsen Nepal Private Limited, a leading multinational market research company in Nepal, is in the process of liquidation. Multinational company Nielsen Holdings, which has 100 percent stake on Nielsen Nepal, had decided to close its office in Nepal on June 30.</span></span></span></span></p> <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 company is likely to complete the liquidation process within September 30. A source at the company informed New Business Age that they have completed all internal the paper works for liquidation and is only awaiting the formal process to complete within this month. The liquidation process has been pushed back by the prohibitory order issued by the District Administration Office of the Kathmandu Valley, the source further 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"">Nielsen Nepal had been involved in market research in Nepal since 1993. However, the company was unable to carry its business as expected during recent months. The coronavirus pandemic further aggravated the problems of the company after which it decided to go for liquidation.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Besides Nepal, Nielsen Holdings has decided to close its offices in four other countries as well.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">New York-based Nielsen Holdings is an internationally renowned data analysis company.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Nielsen Nepal had been conducting market research, social research and retail measurement services. However, due to bleak prospects in these areas, the company decided to close its office in Nepal, it has been learnt.</span></span></span></span></p> <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 company found that its expenses in Nepal were more than the income it has been making, the source said. Nielsen Holdings is reportedly investing in only those countries where there is high return.</span></span></span></span></p> <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 multinational companies like Surya Nepal, Unilever Nepal among others used to hire Nielsen Nepal for market research. </span></span></span></span></p> <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 the decision to close the company in Nepal, more than 60 full-time workers and over 200 independent researchers associated with the company have lost their jobs.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Four of the staffers of the company have set up a new company named Mark Data Nepal, which is similar in nature to Nielsen Nepal.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:10pt"><span style="font-family:Times"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12164', 'image' => '20200903022731_508672712_1517483463.jpg', 'article_date' => '2020-09-03 14:26:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12416', 'article_category_id' => '1', 'title' => 'Government Directs Air Arabia to Refund Passengers', 'sub_title' => 'Commercial Flights Resume from September 2', 'summary' => 'September 3: The government has directed Air Arabia to refund the additional charges it collected from passengers during a recent flight. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">September 3: The government has directed Air Arabia to refund the additional charges it collected from passengers during a recent flight. </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:"Arial Unicode MS"">The government issued such directive during a regular meeting at the Ministry of Culture, Tourism and Civil Aviation on Wednesday (September 2) following complaints of excessive charge by the airline company during a recent flight.</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:"Arial Unicode MS"">The airline company has been accused of charging extra amount to 142 out of 161 passengers who travelled to Nepal from Sharjah of the UAE in an Air Arabia flight on August 25. </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:"Arial Unicode MS"">The airliner had carried 142 passengers who underwent Polymerase Chain Reaction (PCR) tests, 18 who had done Rapid Diagnostic Test (RDT) and one without any test to Nepal and kept them in hotel quarantine. The airline company allegedly charged the amount for their stay in hotel while selling the tickets but the passengers later had to pay the hotel bill themselves. Following complaints that the passengers were duped by the company and had to pay twice for the service, the ministry directed the airline company to foot the bill. Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai has instructed the concerned authorities to take action against the airline company if it refuses to refund the amount. Likewise, the ministry has also requested international airline companies not to charge any additional amount to the passengers during the current 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:"Arial Unicode MS"">Travel agencies have been blamed for taking advantage of the current situation while selling tickets due to the unavailability of regular flights. Minister Bhattarai opined that the airline companies must regulate the black marketing. He added that the ministry will coordinate with Nepal’s diplomatic missions abroad and the non-residential Nepalis to control the black market of air tickets.</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:"Arial Unicode MS"">Meanwhile, international commercial flights resumed in Nepal from Wednesday (September 2) after a gap of almost five months. The government had earlier decided to resume regular flights from September 2 by following the required safety protocols to prevent the spread of Covid-19.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12163', 'image' => '20200903010406_1599085733.Clipboard14.jpg', 'article_date' => '2020-09-03 13:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12415', 'article_category_id' => '1', 'title' => ' Prohibitory Order in Kathmandu Valley Extended by One Week', 'sub_title' => '', 'summary' => 'September 3: Government authorities have extended the prohibitory order in the Kathmandu valley by another seven days. ', '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: Government authorities have extended the prohibitory order in the Kathmandu valley by another seven days. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">With the latest decision taken by the chief district officers Kathmandu, Lalitpur and Bhaktapur, the prohibitory order will remain in effect till midnight of September 9. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, the district administration offices of the three districts in the valley have eased the restrictions to some extent this time.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">From now onwards, groceries and other shops selling fruits, vegetables and milk can remain open till 11 am in the morning. Meanwhile, shops selling drinking water can open throughout the day. There are no restrictions for pharmaceutical shops. </span></span></span></span></p> <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, any person entering Kathmandu for emergency purpose needs to mandatorily present a PCR report with negative result.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It is also mandatory for the people to wear mask in public places.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Likewise, staffers providing essential services will be allowed to commute between 9 to 10.30 in the morning and 3 to 5 pm in the evening.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions (BFIs) can operate by maintaining safety protocols and deploying minimum staffers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Hotels and restaurants will remain completely shut during the extended period of the prohibitory order. Road-side vendors have also not been permitted to resume their business.</span></span></span></span></p> <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 district administration offices of Kathmandu, Lalitpur and Bhaktapur had imposed the prohibitory order on August 19 after a rapid increase in coronavirus cases in the valley. The prohibitory order has been extended twice and this is the third week of restriction.</span></span></span></span></p> <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 District Administration Office, Kathmandu informed New Business Age that they decided to slightly change the modality of the prohibitory order after consulting with the concerned stakeholders, including the business community, health experts and the local representatives.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-03', 'modified' => '2020-09-03', 'keywords' => '', 'description' => '', 'sortorder' => '12162', 'image' => '20200903113103_1599056781.jpg', 'article_date' => '2020-09-03 11:30:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12414', 'article_category_id' => '1', 'title' => 'Daraz Offers Discount to Visa Card Holders', 'sub_title' => '', 'summary' => 'September 2: Daraz, an online shopping marketplace of Nepal, has entered into a partnership with Visa, a global leader in digital payments technology, to drive forward online card payments in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">September 2: Daraz, an online shopping marketplace of Nepal, has entered into a partnership with Visa, a global leader in digital payments technology, to drive forward online card payments in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">Daraz </span><span style="font-size:14.0pt">and Visa are offering Visa card holders a 15 percent discount on prepayments till September 30, reads a joint statement issued by the two companies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">“Customers can choose anything amongst 450,000 products ranging from electronics, groceries, lifestyle to fashion sold by more than 5,000 sellers on Daraz,” the statement further said, adding that Visa and Daraz users can enjoy a maximum discount of Rs 500 by pre-paying only via a Visa card that they have saved on the Daraz app. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">The discount offer can be used only once and includes all current Visa credit, debit and prepaid cards issued in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">“A collective effort is necessary in order to drive the development of the online card payment ecosystem in Nepal, and so, we are thrilled to collaborate with Visa. And with this initial offer, we want to provide our customers an added benefit for choosing the already more convenient and safe method of making online payments,” said Lino Ahlering, MD of Daraz Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial"><span style="font-size:14.0pt">Shailesh Paul, head of Merchant Sales and Acquiring of Visa, said, “Digital payments and online shopping have become crucial in recent times, given the need for social distancing. We are delighted to partner with a leading ecommerce player like Daraz to provide their shoppers the convenience of paying online through a safe, secure medium. Our relationship with Daraz in multiple South Asian markets is proof of how established players can and should come together to enable and enhance shopping experiences for consumers.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12161', 'image' => '20200902070009_My Effect.jpg', 'article_date' => '2020-09-02 18:53:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12413', 'article_category_id' => '1', 'title' => 'Government Starts Issuing Labour Permit ', 'sub_title' => '', 'summary' => 'September 2: The government has started issuing labour permits to aspiring Nepali migrant workers at a time when the local administrations in different districts have imposed prohibitory orders to contain the spread of coronavirus.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">September 2: The government has started issuing labour permits to aspiring Nepali migrant workers at a time when the local administrations in different districts have imposed 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:"Bangla MN"">The Council of Ministers recently decided to issue new labour permits upon the recommendation of the Ministry of Labour, Employment and Social Security.</span></span></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"">Tahachal-based Labour Office has started issuing new labour permits from September 2, following the cabinet decision. This has opened door for Nepali citizens to go overseas for foreign employment by fulfilling all the safety standards to prevent 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:"Bangla MN"">Director General of the Department of Foreign Employment Kumar Prasad Dahal told New Business Age that they have started issuing labour permits as per the agreement with the respective labour destinations and their demand for labour.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The government had stopped issuing labour permits since February/March due to the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The new labour permits will be issued only through the Labour Office based in Tahachal. However, Dahal says those aspiring to go abroad to foreign countries for work are facing difficulty in arriving in Kathmandu to obtain the permit.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12160', 'image' => '20200902043527_1598998058.Clipboard07.jpg', 'article_date' => '2020-09-02 16:34:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12412', 'article_category_id' => '1', 'title' => 'Bangladesh Ready to Supply 50,000 Tons of Urea to Nepal: PM Oli', 'sub_title' => '', 'summary' => 'September 2: Prime Minister KP Oli has requested for help from his Bangladeshi counterpart Sheikh Hasina to supply urea at a time when the farmers across the country are facing acute shortage of chemical fertilizers. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 2: Prime Minister KP Oli has requested for help from his Bangladeshi counterpart Sheikh Hasina to supply urea at a time when the farmers across the country are facing acute shortage of chemical fertilizers. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">PM Oli sought help from Bangladesh during a telephone conversation with PM Hasina on Tuesday (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">Oli said in a tweet that he held talks with Bangladesh regarding the relation between the two countries. He added that Bangladeshi PM Hasina was positive toward his request to supply urea.</span></span></span></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 telephone conversation tool place at a time when Nepal had initiated the process to procure fertilizers from Bangladesh. Farmers are also in need of urea right now after completing plantation.</span></span></span></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 is preparing to borrow 50,000 tons of urea from Bangladesh at the moment.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Spokesperson for the Ministry of Agriculture and Livestock Development Hari Bahadur KC confirmed that that the government has initiated the process to borrow 50,000 tons of urea from Bangladesh.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the ministry, the government will receive 50,000 tons of urea from Bangladesh and instead paying for the fertilizer, the government will return the same amount next year. This agreement has been finalized after the telephone conversation between the two prime ministers, said a high-ranking government official.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12159', 'image' => '20200902034558_1598998127.Clipboard01.jpg', 'article_date' => '2020-09-02 15:45:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12411', 'article_category_id' => '1', 'title' => 'India Generating Rs 100 Billion Annually by Providing Transshipment Facilities to Nepal', 'sub_title' => 'Businesses of Indian Seaports, railway, and other means of transportation flourishing in Nepal', 'summary' => 'September 2: Two-third of Nepal’s international trade and 90 percent of the transit is dependent on India. Indian seaports, trains or other forms of land transportation are used for all of Nepal’s international trade.', 'content' => '<h1><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">September 2: Two-third of Nepal’s international trade and 90 percent of the transit is dependent on India. Indian seaports, trains or other forms of land transportation are used for all of Nepal’s international trade. The geographical advantage of the southern neighbor is also one of the reasons for Nepal’s dependence on India.</span></span></span></h1> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">India giving Nepal the access to its sea routes has be interpreted as an act of goodwill. However, the fact that this facility provided to Nepal is a great business opportunity for India is rarely discussed.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The right to access to the sea route that Nepal has received as a landlocked country has become a great business opportunity for India. The Indian government as well as the private sectors have been earning billions of rupees annually from this.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">A minimum of 1500 trucks enter Nepal from various customs points every day. Ashok Temani, the chairman of the Transport and Transshipment Committee under the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) says that one such truck that carry goods from various parts of India earn an average of Rs 160,000 per year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">If 450,000 trucks enter Nepal with goods, Nepalese businessmen have to pay Rs 70 billion just for the transportation every year.</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 Nepal Transit and Warehouse Company (NTWC), 180,000 containers entered Nepal through the Indian seaport in 2019/20. When these containers were being brought to Nepal, transportations through rails and land from the Indian ports also did a significant amount of business.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani says that the cost of transporting a container to Nepal by rail from seaports of Kolkata and Visakhapatman in India to Nepal is Rs 150,000 in average. NTWC says that 48,000 containers have been transported through road this year. An estimated amount of Rs 9 billion was spent while bringing in 60,000 containers through rail.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani claims that the cost of importing goods from Indian ports totals to Rs 100 billion annually after including other direct and indirect costs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">“The business of Indian seaports, railways and other means of transportation has really flourished in India,” he says.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Government agencies haven’t yet studied the cost of transit of goods incurred during Nepal’s foreign trade. Ravi Shankar Sainju, former joint secretary of the Ministry of Industry, Commerce and Supplies, says that a separate study on the cost of transportation in trade is yet to be done. Government officials estimate that the cost of transit of goods is about 20 to 25 percent of the total trade.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Indian cargo trucks are permitted to stay in Nepal for 72 hours after entering through the customs points. This time is enough for the trucks to return after making their respective deliveries. Businessmen say that although arrangements have been made to allow Nepali trucks to enter through the points but there are still problems in the implementation of this arrangement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">The Indian means of cargo transportation get permissions from the checkpoints of the ports. However, this facility is not available for Nepali trucks. “Nepali transportation has been discouraged with various excuses to maintain the monopoly of the Indian cargo vehicles,” an official said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Joint Secretary Sainju believes that the cost of transit can be reduced by diversifying our dependence. “If we are able to increase the use of air transportation for the use of the northern ports, our dependence on India will decrease. It will also help in increasing competition,” he told New Business Age.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:14.0pt">Chairman Temani claims that India’s dominance on cargo can be decreased with the promotion of Nepalese transportation businesses for carrying cargo. “The government should promote Nepali transportation business by introducing new policies. However, the government has not prioritized this concept.”</span></span></span></p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12158', 'image' => '20200902031757_1598998200.23.jpg', 'article_date' => '2020-09-02 15:17:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12410', 'article_category_id' => '1', 'title' => 'Petroleum Products Start Entering Nepal from Siliguri after 5 Months', 'sub_title' => '', 'summary' => 'September 2: Petroleum products have started entering Nepal from Panitanki of West Bengal state of India after almost five months. ', '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 2: Petroleum products have started entering Nepal from Panitanki of West Bengal state of India after almost five months. This route was closed due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Mechi Customs Office, Nepali tankers have already started bringing petrol and diesel from Siliguri.</span></span></span></span></p> <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 West Bengal state had closed this entry point for indefinite period of time as a precautionary measure. Currently, it has been partially opened. </span></span></span></span></p> <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, Indian cargo vehicles were allowed to enter Kakadbhitta of Nepal through this customs point, but those vehicles had to find another route to return back to India. This problem has not been resolved but the empty vehicles can enter India only from 8 am till 5 pm.</span></span></span></span></p> <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 the West Bengal government had eased vehicular movement from this transit point some time ago, petroleum product was not allowed until now.</span></span></span></span></p> <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 West Bengal government had closed this border on April 8 citing the risk posed by coronavirus. One month later, the state government opened one-way traffic for cargo vehicles to enter Nepal from May 9. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It was only on June 21 that the state government opened two-way traffic for import and export of selected products.</span></span></span></span></p> <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 obstruction in flow of goods and vehicles had affected revenue collection of the Mechi Customs Office. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12157', 'image' => '20200902015342_1598998328.Clipboard08.jpg', 'article_date' => '2020-09-02 13:53:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12409', 'article_category_id' => '1', 'title' => 'E-commerce Companies Resume Online Delivery Service', 'sub_title' => '', 'summary' => 'September 2: Online delivery service in the Kathmandu valley has resumed from Tuesday (September 1) after a brief interruption.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">September 2: Online delivery service in the Kathmandu valley has resumed from Tuesday (September 1) after a brief interruption.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Police had last week cracked down on online delivery service provided by e-commerce companies arguing that the delivery of goods during prohibitory period does not fall under essential service.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Altogether 65 delivery persons were briefly detained by the police on Thursday (August 27) and the companies were warned not to resume their service.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">However, under widespread criticism from all quarters of society</span><span style="font-size:14.0pt"><span style="font-family:Arial">, the </span></span><span style="font-size:14.0pt">District Administration Office, Kathmandu had formed a taskforce </span><span style="font-size:14.0pt"><span style="font-family:Arial">to prepare the criteria for allowing online delivery service in the capital. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Chief District Officer (CDO) of Kathmandu Janak Raj Dahal had formed a four-member committee headed by Assistant CDO Janak Raj Bhatta to prepare the criteria by Monday (August 31).</span></span></span></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 other members of the committee were chief of the Public Health Office, Kathmandu Badri Bahadur Khadka; Director of the Department of Commerce Sagar Mishra and DSP Dipendra Shah of Armed Police 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">The taskforce is yet to submit its report. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">But the e-commerce companies have already resumed their service from September 1 after issuing a joint statement which says that delivery of medicines, food items, cooking gas, fuel, vegetables, fruits, milk and milk products among others have not been prohibited by the District Administration Office. The statement says that their service does not contradict with the sixth point of prohibitory order issued by the District Administration Offices of Kathmandu, Lalitpur and Bhaktapur about two weeks 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">However, the DAO, Kathmandu says it is yet to lift the ban on online delivery service. According to an official at the DAO, they are preparing to allow online delivery service after the taskforce submits its report suggesting guidelines to follow for the e-commerce companies while rendering their service.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">On the other hand, the joint statement issued by the e-commerce companies mentions that there isn’t any need for prior approval to provide essential services.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12156', 'image' => '20200902115950_homedelivery.jpg', 'article_date' => '2020-09-02 11:59:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12408', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petrol', 'sub_title' => 'Price of Diesel, Kerosene and Cooking Gas Remains the Same', 'summary' => 'September 2: Nepal Oil Corporation (NOC) has increased the price effective from Tuesday midnight (September 1). ', '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 2: Nepal Oil Corporation (NOC) has increased the price effective from Tuesday midnight (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"">With the new price adjustment, petrol has become costlier by Rs 2 per litre. Petrol is not available for Rs 107 per litre according to the new price list published by NOC. </span></span></span></span></p> <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, the price of diesel, kerosene and cooking gas remains the same, NOC said in a statement.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">NOC said that the price was increased as per the new list provided by the Indian Oil Corporation.</span></span></span></span></p> <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 is the second time in two weeks that the state-owned oil monopoly has increased the price of petroleum products. The last time NOC had increased the price of petroleum products was on August 16. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-02', 'modified' => '2020-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '12155', 'image' => '20200902103016_petrol_diesel_.jpg', 'article_date' => '2020-09-02 10:29:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12407', 'article_category_id' => '1', 'title' => 'Government Allows Import of Peas and Black Pepper Stuck at vairous Ports ', 'sub_title' => '', 'summary' => 'September 1: The government has decided to allow the import of peas and black pepper that have been stopped at the customs points. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">September 1: The government has decided to allow the import of peas and black pepper that have been stopped at the customs points. A cabinet meeting on Sunday, August 30, decided to allow the import of those peas and black pepper. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The food items are stuck at the customs points since the past five months because they were being imported without the prior approval of the Department of Food Technology and Quality Control.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The government has decided to allow the import of only those peas and black pepper that were shipped before March 2020. Earlier a cabinet meeting held on April 30 had decided to ban the import of watermelon, chilly, dates and betel nut into 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:Calibri">Following the government's restriction, around 1,000 containers of unlicensed food were stranded at various ports including at Birgunj Dry Port and India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">However, the government has already lifted bans on import of betel nuts. Likewise, the government has decided to allow exporters to take back the black pepper. </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 meantime, government has initiated the process for returning 60 containers of chilly from the Birgunj Dry Port.</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">Importers who are not willing to take back the peas and black peppers will be allowed to import the items. However, government is still unclear about what to do with the dates stuck at the checkpoint. According to the dry port’s customs office, about 100 containers of dates are stuck in the ports of Nepal and India.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12154', 'image' => '20200901042358_1598924714.Clipboard06.jpg', 'article_date' => '2020-09-01 16:23:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12406', 'article_category_id' => '1', 'title' => 'Experts Stress on Role of MSMEs to Rebound the Economy', 'sub_title' => '', 'summary' => 'September 1: Experts from India and Nepal stressed on the role that Micro, Small and Medium Enterprises (MSMEs) can play to rebound the economy that has been reeling under the crisis of Covid-19 and the extended lockdown in the region. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">September 1: Experts from India and Nepal stressed on the role that </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Micro, Small and Medium Enterprises (MSMEs) can play to rebound the economy that has been reeling under the crisis of Covid-19 and the extended lockdown in the region. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Senior Vice President of the PHD Chamber of Commerce and Industry (PHDCCI) Sanjay Aggrawal </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">said during a Webinar conference held on August 31 that it is high time that the MSMEs be given their space as the Covid-19 pandemic has made a firm ground for strengthening bilateral relations between India and Nepal and these business can play pivotal roles in economic rebounding.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Anil Khaitan, former president of PHDCCI, presented a global overview about the effect of the pandemic on the economy and the required response to mitigate the challenges being faced by MSMEs during the interaction organised jointly by </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Nepal SBI Bank Limited (NSBL) and PHDCCI under the aegis of India-Nepal Centre and the Confederation of Nepalese Industries (CNI).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“In these adverse times, it is utmost important that businesses adopt the ways for frugal innovation,” a joint statement issued by the organisers quoted him as saying.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to Khaitan, the MSMEs need a clear definition that will be immensely helpful for letting them avail the market conditions efficiently. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Speaking at the same online interaction entitled ‘Enhancing Cooperation for MSMEs in Nepal’, CEO of Investment Board Nepal (IBN) Sushil Bhatta </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">highlighted the importance of MSME for Nepal's economy and job creation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He stressed on the need of creating awareness in MSMEs for the skill development,<br /> entrepreneurial advancement, innovative practices, new technology to give them a competitive edge at the regional and global platforms.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Bhatta also shed light on the challenges MSMEs are facing with the demand and supply shocks with the ongoing crisis emerged through the pandemic.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Governor of Nepal Rastra Bank</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman""> Maha Prasad Adhikari in his keynote speech called the MSMEs sector as the growth engine of Nepal’s economy. Highlighting on the recent policy measures, he assured the industry that Nepal’s MSMEs are on way to emerge stronger and can partner for registering positive outcomes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Similarly, Kapidjwaja Pratap Singh, commercial representatives at the Indian Embassy in Nepal, said many importers in India are dependent on exports of Nepal, making it a two-way flow of commodities between India and Nepal. He added that localised trade is happening at a fast pace. This shows the immense networking and supply chain management development by business between India and Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">“In the recent past, the trade between India and Nepal has reached to around 85 percent peak of pre-Covid times both in terms of exports and imports,” said Singh. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Anukool Bhatnagar, MD and CEO of NSBL, in his presentation discussed financer's perspectives on the MSME's in Nepal. He presented a “nuanced view” on key pressing policy issues that are impacting the way banks are lending to MSMEs. While the credit gap is still there, Nepal has evolved as a country with robust ecosystem for the old and new businesses, he reportedly said. Bhatnagar also appreciated the regulatory measures of NRB that are particularly sensitive to the concerns of MSMEs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman""> Dr D K Aggarwal, president of PHDCCI, shared about India’s unique and deep relationship with Nepal. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12153', 'image' => '20200901023317_13202_DSC_0992 (1).jpg', 'article_date' => '2020-09-01 14:32:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12405', 'article_category_id' => '1', 'title' => 'Sanitizers Imported without Quality Check ', 'sub_title' => '', 'summary' => 'September 1: With the increase in coronavirus infection, the demand for sanitizer has skyrocketed. ', '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 1: With the increase in coronavirus infection, the demand for sanitizer has skyrocketed. Not only have domestic pharmaceutical industries started producing sanitizers, the imported sanitizers are also widely available in the market. However, the risk of infection has further increased as the sanitizers are imported without quality check. </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 Department of Drug Administration (DDA) has given permission to 40 pharmaceutical companies for the production of sanitizer since April. Among them, 30 have already started commercial production. Although Nepal Bureau of Standards and Metrology monitors the quality of sanitizers produced by the industries in Nepal, sanitizers are being imported from the customs points without quality inspection. </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 department has made a criteria for domestic industries that there should be 80 percent ethanol in the sanitizer. Regardless of this, the department is ignorant about the standard for the sanitizers that are being imported from countries including India and China. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">According to Ramesh Sukmani, officer at Birgunj Customs Office, there is no provision of ensuring the quality of sanitizer at customs points.</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""> “DDA has sent a letter to allow the import till mid-October,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Spokesperson of DDA Santosh KC informed that they have extended the time period for the importers to register the products from July to September.</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 time period has been extended after the importers said that it was difficult to present the documents due to the lockdown,” he told New Business Age. The department says that the quality will be monitored after registration of the products. </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"">A recent study by Nepal Academy of Science and Technology (NAST) found that 45 percent sanitizers that are available in the Nepali market are of poor quality. NAST warns of an increased risk of infection as such sanitizers cannot incapacitate the virus. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12152', 'image' => '20200901013444_1598909323.Clipboard15.jpg', 'article_date' => '2020-09-01 13:34:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12404', 'article_category_id' => '1', 'title' => 'Garment Industry of Nepal Struggling to Export their Product', 'sub_title' => 'Exporters Forced to Pay Four Times High Airfare', 'summary' => 'September 1: Readymade garment producers of Nepal are forced to pay four times high price for air tickets to export their products due to unavailability of flights amid Covid-19 pandemic.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">September 1: Readymade garment producers of Nepal are forced to pay four times high price for air tickets to export their products due to unavailability of flights amid Covid-19 pandemic. Regular flights have been halted since a long time to prevent the spread of coronavirus. So the exporters have no option to send the products through chartered flights operated for rescuing stranded Nepali citizens, which is much more costlier.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Readymade garments produced in Nepal are exported to countries like Germany, France, Hungary, Denmark, Italy, Norway as well as the USA, Australia and Canada. Europe is a major market for readymade garments made in Nepal. Out of the total readymade garments manufactured in Nepal, 70 percent is exported to Europe.</span></span></span></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 demand for readymade garments depends on the season. Therefore, the Nepali exporters say they have had to bear losses of more than Rs 1.25 billion for failing to deliver the goods on time.</span></span></span></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 manufacturers have to incur huge losses if they have to keep the products for the next 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">Therefore, the manufacturers are exporting products like shorts, trousers, pants and ladies wear to selected European countries by paying exceptionally high airfare, informed Ashok Agrawal, general secretary of Garment Association of Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that they have no option other than to pay four times higher to export the goods through chartered flights.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, Nepali exporters had been exporting goods for 2 dollar per kilogram. But the cost has gone up to 8 dollars per kg at present.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“It is better to pay high price than to face loss due to delay in delivery, which often causes irreparable damage because the season gets over by that time,” says Agrawal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the association, there were 1200 garment factories in Nepal which provided employment to more than 100,000 people about 15 years ago. However, there are currently only 50 such factories across the country and they provide employment to 8,000 people.</span></span></span></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 garment industry of Nepal had done transactions worth Rs 7 billion during last fiscal year, but the association fears that the figure might take a nosedive 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:Arial">The garment industries are operating at 20 percent capacity after the lockdown was imposed on March 24. On top of that, they are struggling to export the manufactured products.</span></span></span></span></p> ', 'published' => true, 'created' => '2020-09-01', 'modified' => '2020-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '12151', 'image' => '20200901114856_1598909272.4.jpg', 'article_date' => '2020-09-01 11:48:03', '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
