July 21: Nepal Rastra Bank has given letter of intent (LOI) to Nepal Telecom to operate payment service (mobile money) including utility payment…
July 21: Nepal Rastra Bank has given letter of intent (LOI) to Nepal Telecom to operate payment service (mobile money) including utility payment…
July 21: Transport entrepreneurs have reached an understanding with the government to resume public transportation service from Wednesday (July 22).…
July 21: Foreign exporters have appealed to the Nepalese diplomatic missions abroad to facilitate the release of large quantity of dry fruits, peas, pepper, betel nuts and dates that are currently stopped in ports in Nepal and…
July 21: The government has decided to resume air service almost after a month from August…
July 21: The government on Monday (July 20) launched the ‘Youth Employment Transformation Initiative’ project in collaboration with the World…
July 21: Foreign investors pledged investment of around Rs 39 billion to as many as 226 industries in Nepal in the last fiscal year, according to the Department of…
July 20: Nepal Airlines Corporation has decided to stop using Chinese aircraft from July 30 after incurring losses regularly.…
July 20: Energy producers of the private sector have demanded necessary policy that encourages the production, transmission and distribution of electricity in case the independent power producers want to opt for merger.…
July 20: Handicraft entrepreneurs, whose business has been shut down for a long time due to coronavirus pandemic, have started turning into alternative…
July 20: In the last fiscal year (2019/20), Nepali importers spent millions of rupees on electronic container tracking system (ECTS) to track their container cargo imported into Nepal using Indian ports and…
July 20: The hotel entrepreneurs have agreed to pay minimum monthly salary to their staffers despite the industry remaining closed since the last four months due to the lockdown imposed by the government to contain the spread of coronavirus.…
July 20: Altogether 21 national pride projects, prioritized by the government to attain economic, are currently under construction.…
The capacity utilisation of Nepali carpet industries has increased to 20 percent after the easing of the lockdown.…
The government and the World Bank on Friday signed a USD 450 million (around Rs 54 billion) financing agreement to improve the efficiency and safety of transport infrastructure, cross-border trade, and strengthen capacity for strategic road network management.…
Tourism entrepreneur who are in anxiety due to the mounting losses think that the Monetary Policy for FY 2020/21 will bring some relief to the…
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The central bank has paved way for Nepal Telecom to operate such service after an agreement in principle between the two organisations.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Nepal Telecom had filed an application with NRB a year ago to operate payment service in collaboration with Rastriya Banijya Bank (RBB). Nepal Telecom spokesperson Rajesh Joshi said that they have received the LOI from NRB and the necessary process for the operation of the service has been initiated. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">To provide the utility payment service, Nepal Telecom and RBB must establish a separate company with their joint investment. Nepal Telecom needs to file another application within six months for final approval after managing necessary infrastructure for the new venture.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">NRB will then conduct necessary study such as the company’s staff, software and other issues and give final approval for the operation within a month. NRB says Nepal Telecom can operate the new service only after fulfilling all the criteria.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The paid-up capital of the joint-venture company, where the majority shares will be of Nepal Telecom, has to be Rs 1 billion. Spokesperson Joshi said that the company will be registered within a week. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“We have already started the process to establish the joint venture company. Probably, the company will be registered within a week,” he said, “Then we will make necessary arrangement for infrastructure such as installing software, setting up office and visit central bank for final approval.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">This new service is a kind of digital wallet. Customers will be able to make various payments through a mobile application by registering their mobile number and account number of RBB. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There will also be a top-up service. According to Nepal Telecom, all types of transactions can be done through the app. RBB will have its role in amount settlement. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Telecommunication companies are working as a payment service provider in abroad. In some countries, telecom companies are ahead of banks in this regard. This is the first time in Nepal that a payment service has been launched under the leadership of a telecom company. For this, Nepal Telecom has already completed all necessary procedures. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Managing Director of the Nepal Telecom, Dilliram Adhikari, said this new service will provide accessibility of digital transaction to the people of rural areas as well. “Nepal Telecom has reached to the places where banking service is not yet available,” he said adding, “In this regard, it is expected that it will be easier to provide them banking services.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">He further said the mobile money service is being launched with the objective of increasing financial inclusion and access to digital transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“While we have a nationwide network, RBB has a long experience in the financial sector,” he said, adding, “We can operate the service effectively by using two pillars.” Adhikari also said that the service would be more reliable as both Nepal Telecom and RBB are government-owned companies. </span></span></span></p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11951', 'image' => '20200721022343_1595282477.Clipboard05.jpg', 'article_date' => '2020-07-21 14:22:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12204', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs to Resume Service from July 22 ', 'sub_title' => '', 'summary' => 'July 21: Transport entrepreneurs have reached an understanding with the government to resume public transportation service from Wednesday (July 22). ', '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"">July 21: Transport entrepreneurs have reached an understanding with the government to resume public transportation service from Wednesday (July 22). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Transport entrepreneurs made such announcement following a meeting with the Director General of the Department of Transport Management Gogan Bahadur Hamal on Monday. The two sides discussed about the work procedure on resuming public transportation service. During the meeting, DoTM agreed to bear 50 percent premium for the insurance coverage of those involved in transportation service. DoTM, on behalf of the government, agreed to pay 50 percent insurance premium against coronavirus for drivers and helpers of public vehicles. Government authorities also agreed to recommending setting up a fund for providing relief to drivers and helpers in case they die of coronavirus. Following the understanding, the transport entrepreneurs agreed to resume their service from Wednesday.</span></span></span></span></p> <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 government had decided to lift a ban on public transport last week, some transport entrepreneurs and workers’ union had decided not to resume service without getting assurance from the government. They were demanding security of frontline workers and relief during the lockdown period as a precondition for resuming 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 Unicode MS"">The transport entrepreneurs showed flexibility in resuming service after a meeting with Prime Minister KP Sharma Oli. Their concerns were also addressed by the monetary policy for the upcoming fiscal year. However, they were still reluctant to resume service outright due to the security of drivers and helpers. </span></span></span></span></p> <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, DoTM has assured the transport entrepreneurs that it will take initiative to resume long-route vehicles as well. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11950', 'image' => '20200721030826_1595264681.yatayat.jpg', 'article_date' => '2020-07-21 15:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12202', 'article_category_id' => '1', 'title' => 'Foreign Exporters Demand Release of Goods Held at Customs Points', 'sub_title' => '', 'summary' => 'July 21: Foreign exporters have appealed to the Nepalese diplomatic missions abroad to facilitate the release of large quantity of dry fruits, peas, pepper, betel nuts and dates that are currently stopped in ports in Nepal and India.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 21: Foreign exporters have appealed to the Nepalese diplomatic missions abroad to facilitate the release of large quantity of dry fruits, peas, pepper, betel nuts and dates that are currently stopped in ports in Nepal 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">The exporters have written letter to the Nepali Embassy in Canada requesting to facilitate the release of the goods after not receiving payment from Nepali importers.</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">Companies including Marina Commodities of Canada, Agrocrop International, Swiss Singapore Canada, PKT Associates have requested Bhrigu Dhungana, Nepal’s Ambassador to Canada, for supporting them to clear the goods from the ports and for the clearance of dues. Nepali importers have been importing chick peas from these companies.</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 payment for these goods have been stopped after the customs offices halted the inspection of the goods. The Department of Customs informed that it had stopped the inspection because the importers had imported the goods 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">However, the importers complain that the payment of more than a dozen exporters have been withheld due to the delay in inspection by the government authorities.</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 had banned the import of chick peas, betel nuts, dates and pepper on April 30.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The Birgunj Dry Port has suspended the inspection of 500 containers for almost three months citing lack of prior approval from the Food Department. Importers suggest that additional 500 containers are stranded at the container freight station in Indian ports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11949', 'image' => '20200721014644_1595282830.Clipboard08.jpg', 'article_date' => '2020-07-21 13:46:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12199', 'article_category_id' => '1', 'title' => 'Government Gives the Nod to Resume Air Service from August 17', 'sub_title' => '', 'summary' => 'July 21: The government has decided to resume air service almost after a month from August 17.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">July 21: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has decided to resume air service almost after a month from August 17. A cabinet meeting on Monday (July 20) decided to resume both domestic and international 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 Unicode MS"">The Council of Ministers has endorsed the proposal to instruct the Ministry of Culture, Tourism and Civil Aviation to start necessary homework to this effect.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai confirmed that cabinet has assigned the ministry to take required measures to resume air service, which has been halted since the government imposed lockdown on March 24.</span></span></span></span></p> <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 ministry had earlier sent a proposal to the Covid-19 Crisis Management Centre to resume domestic flights from August 5 and international flights from August 17. However, the cabinet decided to resume both domestic and international flights from August 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The cabinet meeting also decided to ease the lockdown measures. The government has been extending the lockdown time and again to contain the spread of coronavirus. The current lockdown expires this Wednesday (July 22).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, the government had decided to resume transportation service within the districts. The latest decision of cabinet also allows phase-wise opening of inter-district transportation from now onward.</span></span></span></span></p> <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, CCMC had presented a proposal to the cabinet on Sunday requesting a review of ban on transportation, tourism business, operation of hotels, schools and a clamp down on sports activities based on new assessment of Covid-19 situation. As per the recommendation, the government has agreed to ease the lockdown measures. However, the government is yet to announce the new model of lockdown. Informed sources said that the government spokesperson will shed light on the latest decision during a regular press meet. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11948', 'image' => '20200721115456_1595259768.widebody_.jpg', 'article_date' => '2020-07-21 11:53:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12201', 'article_category_id' => '1', 'title' => 'Government Launches Youth Employment Project in Collaboration with World Bank ', 'sub_title' => '', 'summary' => 'July 21: The government on Monday (July 20) launched the ‘Youth Employment Transformation Initiative’ project in collaboration with the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">July 21: The government on Monday (July 20) launched the ‘Youth Employment Transformation Initiative’ project in collaboration with the World Bank.</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:Arial">The World Bank said in a joint statement that Minister for Labor, Employment and Social Security Rameshwor Raya Yadav and World Bank Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos jointly launched the project amid a function on July 20. </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:Arial">Financed by the World Bank to promote domestic employment, the project will enable poor and vulnerable youth gain access to employment, skills development and capacity building opportunities, the statement 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:Arial">Aligned with the Prime Minister Employment Program, the $120 million project will be implemented over the next four years with a focus on improving employment services and labor market outcomes, especially for youth.</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:Arial">“With the onset of COVID-19 and the subsequent contraction of the global job market, Nepal’s labor market is also affected with a huge number of job losses. In this context, result-driven implementation of the project at all three levels of the government is of critical importance,” the statement quoted Labour Minister Yadav as saying. </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:Arial">“This project plays a crucial role to expand the employment opportunities in the domestic labor market and to set up an automated system of Labor Information Bank and upgrade the Employment Management Information System<em> </em>by consolidating basic labor market information such as profile of the unemployed persons including knowledge, skills, experience and the potential sector for employment along with the demand and supply aspects of the labor market,” added Minister Yadav thanking the development partner for the continual support in the internal labor market strategy of Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">World Bank’s Country Director for Nepal Hadad-Zervos said that </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">the project funding is being frontloaded this year to support over 75,000 of the most vulnerable unemployed youth at the local level as part of the World Bank’s COVID-19 response. He added that this project would help the unemployed youth to earn 100 days of wages each through the creation of temporary employment opportunities in the maintenance and upgrading of public infrastructure.</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:Arial">“Working with the government, development partners and the private sector, the World Bank will seek to contribute to a long thread of engagements that align to make a difference in the lives of the most vulnerable people,” Hadad-Zervos 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:Arial">The project agreement was signed in November 2019 by the Government of Nepal and the World Bank. Of the $120 million credit, about 90 percent is allocated to the local levels to create jobs in the maintenance and upgrading of public infrastructure and public services for 100,000 unemployed youth, 60% of whom will be women as per the project’s priority to inclusion. </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:Arial">According to the World Bank, the project will support 753 Employment Service Centers at the local levels to strengthen the workforce and to provide services in registration, profiling, referral, temporary work placement and on-the-job training. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11947', 'image' => '20200721124426_World Bank_Yeti.jpg', 'article_date' => '2020-07-21 12:43:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12200', 'article_category_id' => '1', 'title' => 'FDI Pledges worth Rs 39 Billion in Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 21: Foreign investors pledged investment of around Rs 39 billion to as many as 226 industries in Nepal in the last fiscal year, according to the Department of Industries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">July 21: Foreign investors pledged investment of around Rs 39 billion to as many as 226 industries in Nepal in the last fiscal year, according to the Department of Industries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Majority of the Foreign Direct Investment (FDI) was committed by Chinese firms. Firms from China pledged to invest Rs 25.57 billion for 174 industries followed by India standing at Rs 3.57 billion for 16 industries, informed Spokesperson Binod Kumar Khadka.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Khadka further shared that more than 17 countries abroad had pledged to invest in 226 industries. Among the commitments received for investment, service sector has received the highest investment, informed Khadka. More than Rs 11 billion has been pledged for 73 industries in service sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Similarly, 81 industries in the tourism sector have received commitment of over Rs 10 billion. Likewise, over Rs 70 billion was pledged for information and technology sector involving 37 industries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">A total of 277 new enterprises were registered in the last fiscal year. The total capital of those newly registered enterprises was over Rs 152 billion. <em>(RSS)</em></span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11946', 'image' => '20200721122137_20170512120504_co.jpg', 'article_date' => '2020-07-21 12:21:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12197', 'article_category_id' => '1', 'title' => 'NAC Decides to Ground Chinese Aircraft', 'sub_title' => '', 'summary' => 'July 20: Nepal Airlines Corporation has decided to stop using Chinese aircraft from July 30 after incurring losses regularly. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: Nepal Airlines Corporation has decided to stop using Chinese aircraft from July 30 after incurring losses regularly. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The flag carrier of Nepal currently has four Y-12 and two MA-60 Chinese-made aircraft. MA-60 has a capacity to carry 56 passengers while the Y-12 is an 18-seater aircraft used for domestic flights.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Stating that the state-owned aircraft company of Nepal has been incurring losses regularly while operating these aircraft, NAC decided to stop using them altogether. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A board meeting of NAC recently decided to halt the operation of the Chinese aircraft, said a source informed about the matter. According to the source, the board assessed that NAC has incurred losses worth Rs 1.9 billion from Fiscal Year 2071/72 to FY 2075/76 while operating the Chinese aircraft. Fearing that the airline company would face further losses if it continues using the Chinese aircraft, the board decided to stop their operation. NAC estimates the losses will climb to Rs 2.3 billion in the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. Therefore, the board decided to stop the operation of the Chinese aircraft, the source said on condition of anonymity.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A board member of NAC informed that the national flag carrier of Nepal cannot operate the aircraft and therefore decided to ground them. The board member said that they have written a letter to the Ministry of Culture, Tourism and Civil Aviation that it is not commercially viable to operate these aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The NAC board has been discussing this issue since the last 20 board meetings but has not been able to decide on proper management of these aircraft. Now, it is up to the government to decide the next step, the board member said.</span></span></p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11945', 'image' => '20200720042841_1595176009.aircraft nepal airlines.jpg', 'article_date' => '2020-07-20 16:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12198', 'article_category_id' => '1', 'title' => 'Independent Power Producers Demand Incentives for Merger', 'sub_title' => '', 'summary' => 'July 20: Energy producers of the private sector have demanded necessary policy that encourages the production, transmission and distribution of electricity in case the independent power producers want to opt for merger. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">July 20: Energy producers of the private sector have demanded necessary policy that encourages the production, transmission and distribution of electricity in case the independent power producers want to opt for merger. They have demanded exemption in royalty for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The Electricity Regulatory Commission has already unveiled the draft of the Directive on Merger, Acquisition, Purchase and Transfer of Authorised Person or Projects 2077.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The commission is preparing to finalize the draft. In the mean time, energy producers have demanded favourable policy to go for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The draft has a provision of merger between authorised projects that are involved in production, transmission and distribution of electricity. There is also a provision for one project to acquire, purchase or transfer the shares of other projects.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">Promoters of the private companies have taken the proposal of merger positively. The promoters of private energy sector have been demanding facilities similar to those provided by the central bank to encourage the merger of BFIs. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">Vice President of Independent Power Producers of Nepal (IPPAN) Kumar Pandey says it is important to provide incentives for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">“Merger of hydropower project itself is a positive step. However, it is important to provide facilities for the projects that opt for merger. This issue is missing in the draft,” said Pandey.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11944', 'image' => '20200720050237_1595198302.Clipboard18.jpg', 'article_date' => '2020-07-20 17:01:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12196', 'article_category_id' => '1', 'title' => 'Handicraft Entrepreneurs Choosing Alternative Occupation ', 'sub_title' => '', 'summary' => 'July 20: Handicraft entrepreneurs, whose business has been shut down for a long time due to coronavirus pandemic, have started turning into alternative occupation.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">July 20: Handicraft entrepreneurs, whose business has been shut down for a long time due to coronavirus pandemic, have started turning into alternative occupation. Entrepreneurs, craftsman and business persons involved in this sectors are in crisis after tourists stopped coming to Nepal even before the spread of coronavirus in Nepal. As the handicraft industry is directly linked with the tourism industry, it has been badly affected due to the closure of tourism sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the president of Nepal Handicraft Association, Hari Century, around 50 percent handicraft entrepreneurs and workers have chosen other profession as it will still take around two years for tourism industry to flourish again.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman""> “They are now involved in vegetable farming and animal husbandry,” he said. Some of them are thinking of returning to the business in the coming days if the situation improves. But it is expected that some will abandon the sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Achyut Aryal, who has been making and selling handicraft products since 40 years at Basantapur, is now into maize farming after people stopped purchasing handicrafts. He has started the farming by renting 15 ropani land in Godawari, Lalitpur. “Neither there is the possibility of tourists coming to Nepal nor is export possible due to coronavirus. Even though we open the shops, there aren’t any buyers,” he said, adding, “I am obliged to get into agriculture as the business has dried up.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">As per the statistics of the Federation of Handicraft Association of Nepal (FHAN), Nepali handicraft products worth Rs 6 billion was sold in the international market last year. The major market for Nepali handicrafts is the USA, China and European countries. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In an average, handicraft products worth Rs 11 billion to Rs 15 billion is exported from Nepal yearly, while it is estimated that around 1 million people (including businessmen, entrepreneurs and workers) are involved in this sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the president of FHAN, Surendra Bahi Shakya, the situation of Nepali handicraft is very critical for the next one year. He said that many people have had to change their profession until the situation becomes favourable. Moreover, he states that although the production of felt which was ordered before the lockdown is underway, they are facing problem in export. He further informed that the businessmen could not send some products from Nepal in the rescue flights due to exorbitant fare. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“As the fare was five times high than normal charge, we have not been able to send the ordered products,” he said. Entrepreneurs and businessmen are frustrated as they could not sell the goods. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Places like Basantapur, Thamel, and Patan where the handicrafts used to be made and sold are still deserted, due to which there is no business even if they open their shops. Handmade pashmina, felt, thanka and painting, wood carving, sculpture, and metalwork, etc fall under handicraft products. </span></span></span></p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11943', 'image' => '20200720025203_20160802043332_meta.jpg', 'article_date' => '2020-07-20 14:51:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12195', 'article_category_id' => '1', 'title' => 'Importers Spending Millions for Electronic Tracking System Despite Lack of Tracking Facility', 'sub_title' => '', 'summary' => 'July 20: In the last fiscal year (2019/20), Nepali importers spent millions of rupees on electronic container tracking system (ECTS) to track their container cargo imported into Nepal using Indian ports and railways.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">July 20: In the last fiscal year (2019/20), Nepali importers spent millions of rupees on electronic container tracking system (ECTS) to track their container cargo imported into Nepal using Indian ports and railways.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">However, the importers complain that the service provider despite charging the fees did not provide the container tracking facility to them.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">The GPS-based system is currently being used to track the transshipment of goods imported from the third countries to the Indian ports of Kolkata and Visakhapatnam. Such tracking system came in operation in Kolkata on February 15, 2019 and before that in Visakhapatnam port on August 28, 2018.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">In 2019/20, a total of 108,000 thousand containers were imported to Nepal from third countries. Of the total containers, 59,214 entered Nepal through Birgunj Dry Port by rail. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Transcure Telematics Pvt Ltd, has been providing the ECTS service. The company charges Rs 3,400 per container to the importers. However, Nepali importers complain that another company working as a middle agent has been charging them to Rs 10,000 for the same service.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Nepali importers have so far spent at least Rs 320 million for availing the tracking service. However, Nepali entrepreneurs complain that Transcure, despite charging them millions, has not provided the tracking service.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Importer Suresh Rungta complained that the service provider charges them hefty amount but is not providing the tracking service. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The charge for this reusable electronic system is exorbitant. On top of that, tracking facility has not been provided to the importers,” claimed industrialist Rungta.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11942', 'image' => '20200720023416_95196488.Clipboard05.jpg', 'article_date' => '2020-07-20 14:27:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12193', 'article_category_id' => '1', 'title' => 'Hotel Entrepreneurs Agree to Pay Minimum Salary to Workers', 'sub_title' => '', 'summary' => 'July 20: The hotel entrepreneurs have agreed to pay minimum monthly salary to their staffers despite the industry remaining closed since the last four months due to the lockdown imposed by the government to contain the spread of coronavirus. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: The hotel entrepreneurs have agreed to pay minimum monthly salary to their staffers despite the industry remaining closed since the last four months due to the lockdown imposed by the government to contain the spread of coronavirus. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The entrepreneurs have agreed to pay between Rs 4,300 to Rs 10,000 to the staffers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Hotel Association of Nepal informed during a press conference on Sunday (July 19) that they have agreed pay the amount to the workers after reaching an understanding with the workers’ union.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to HAN, this agreement will remain valid from April 13, 2020 to 31 December 2020. With this understanding, the payment issue of hotel staffers has finally been resolved.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">As per the understanding, hotel employees will receive the minimum amount even if they are unable to join office or the employer is unable to provide job due to any circumstances during this period. The staffers will receive anything between Rs 4,300 to Rs 10,000 depending on the standard of the hotel where they work, informed president of HAN Srijana Rana.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The hotel industry has been completely closed due to coronavirus and the subsequent lockdown imposed since March 24. Rana said that the agreement has set a good precedent among the employers and the employees during the crisis period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the understanding, deluxe and five-star hotels and resorts with more than 200 rooms will pay Rs 10,000 per month to their workers. Likewise, deluxe and five-star hotels with less than 200 rooms will pay Rs 9000 to their staffers. Similarly, four-star hotels with more than 100 rooms will pay Rs 8455 to their workers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Four-star hotels with less than 100 rooms will pay Rs 8000 to the employees while 3-star hotels have agreed to pay Rs 5000 per month to the workers. Likewise, two-star hotels have agreed to pay Rs 4300 to the workers while the minimum pay for employees of one-star hotels and other restaurants will be decided by the concerned parties, informed Binayak Shah, senior vice president of HAN.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Meanwhile, General Secretary of HAN Sajan Shakya said that the hotel entrepreneurs and workers’ union have also agreed to deploy staffers on need basis and in different shifts as per the requirement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The agreement further states that the employees who wish to take voluntary retirement from service can avail all the benefits guaranteed before the lockdown period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11940', 'image' => '20200720010231_han.jpg', 'article_date' => '2020-07-20 12:44:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12191', 'article_category_id' => '1', 'title' => 'Delay in Completion of National Pride Projects adds Cost Burden of Rs 282 Billion', 'sub_title' => '', 'summary' => 'July 20: Altogether 21 national pride projects, prioritized by the government to attain economic, are currently under construction. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: Altogether 21 national pride projects, prioritized by the government to attain economic, are currently under construction. However, the delay in timely completion of 12 such projects has added financial burden of Rs 282.43 billion to the state coffers. Had these projects been completed on time or delayed by only a year, the government would not have had to incur such huge amount needlessly. The extra amount spent in the projects could have been utilized to complete the Budhi Gandaki Hydropower Project.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The initial cost estimate of Budhi Gandaki project, which is yet to start physical infrastructure work, is said to be around Rs 260 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The 57<sup>th</sup> annual report of the Financial Comptroller General’s Office states that the cost of the national pride projects has been increasing due to the delay in completion of the work.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The additional expenses of these projects are more than the capital expenditure of the government announced for the fiscal year 2072/73. The government had allocated a total of Rs 208.87 billion as capital expenditure for FY 2072/73.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The government is finding it quite challenging to manage source of investment to meet the additional cost burden of the national pride projects due to the inordinate delay in completion of the works. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Pushpalal Mid-Hill Highway is one of the national pride projects which has taken a long time for completion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The project which started in 2064/65 BS (2007/2008 AD) was supposed to be complete in a decade by 2074/75 BS (2017/18 AD). However, the deadline for the project has been extended by five years, which has increased the total cost estimate to Rs 84.33 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The initial cost estimate of the project was just Rs 33.36 billion. Had the government completed the project on time, it could have saved Rs 50.97 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the annual report of the Financial Comptroller General’s Office, the fate of other projects is also similar. The Babai Irrigation Project, which was initiated in FY 2044/45 BS more than two decades ago was set to be completed by 2069/70. However, the deadline of the project has been extended by 10 more years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The cost of the project which was estimated to be Rs 2.87 billion initially has now increased to Rs 18.96 billion. According to the report, most of the irrigation projects have been facing delay in completion.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11938', 'image' => '20200720114511_1595199291.jpg', 'article_date' => '2020-07-20 11:43:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12190', 'article_category_id' => '1', 'title' => 'Capacity Utilisation of Carpet Industry Reaches 20% ', 'sub_title' => '', 'summary' => 'The capacity utilisation of Nepali carpet industries has increased to 20 percent after the easing of the lockdown. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: The capacity utilisation of Nepali carpet industries has increased to 20 percent after the easing of the lockdown. However, export of carpet has not resumed due to the continuing ban on international flight. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Entrepreneurs say that while previously produced carpets could not be exported, new products will unlikely to come into the market. According to them, they have to run the industries to sustain workers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">As the exports have been halted due to covid-19 pandemic, carpets worth Rs 4 billion are stuck in warehouses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The wool carpets produced in Nepal are exported in more than 50 countries including America, China, Germany, UK, Italy, France, Canada, Belgium and Australia. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to Tenzing Sherpa, vice president of Nepal Carpet Manufacturers and Exporters Association, it is not possible to export Nepali carpets currently. The demand in the US, Europe and the UK, where Nepali carpets are exported in large quantities, has decreased due to the pandemic. “The demand of Nepali carpet has dropped by 80 percent as the international market is also almost closed. On the other hand, even if we want to export, there is no favorable environment now,” Sherpa said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Nepali carpet exporters mainly export carpets to foreign countries through the Kolkata Port in India. However, compared to countries including India and Pakistan, it takes more time for Nepali exporters to supply their products to foreign markets. "It takes 2-3 months for our carpets to reach major foreign markets," mentioned Sherpa</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the Nepal Carpet Manufacturers and Exporters Association, only a small number of carpets exported to China are being produced. According to Amrit Tamang, CEO of the association, the compulsion to manufacture carpets to support the workers and the increase in stock of have hit the carpet manufacturers hard. “We have not been able to export, on top of our stocks are increasing,” he said. At present, more than 300,000 people in Nepal are dependent on the carpet industry. Similarly, there are about 700 entrepreneurs and more than 150 exporters in the carpet exporters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the Customs Department, carpets worth Rs. 7.36 billion were exported from Nepal in the fiscal year 2075/76. Carpet exports have declined by about 19% in the first 11 months of FY 2076/77. During this period, carpets worth Rs 5.5 billion have been exported from Nepal. Now, the main market for Nepali carpets is the United States, followed by Germany, the UK, and China. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the carpet entrepreneurs, there is no shortage of raw material as of now, as there was stock of raw materials even before the lockdown. The raw materials for the carpet in Nepal are mainly imported from Tibet and New Zealand. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '11937', 'image' => '20200719042410_Nepali Carpet.jpg', 'article_date' => '2020-07-19 16:22:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '31' ) ), (int) 13 => array( 'Article' => array( 'id' => '12189', 'article_category_id' => '1', 'title' => 'Govt and World Bank Sign USD 450 mn Road Support Project Financing Agreement', 'sub_title' => '', 'summary' => 'The government and the World Bank on Friday signed a USD 450 million (around Rs 54 billion) financing agreement to improve the efficiency and safety of transport infrastructure, cross-border trade, and strengthen capacity for strategic road network management. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: The government and the World Bank on Friday signed a USD 450 million </span></span><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">(around Rs 54 billion) </span></span><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">financing agreement to improve the efficiency and safety of transport infrastructure, cross-border trade, and strengthen capacity for strategic road network management. Issuing a press statement, the Washington D.C.-based lender said that this is the single largest value project that the Nepal government has signed with the World Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The agreement was signed by Finance Secretary Sishir Kumar Dhungana and Faris Hadad-Zervos, World Bank Country Director for Maldives, on the presence of Minister for Finance Dr Yuba Raj Khatiwada. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“We thank the World Bank Group for supporting this important project which will enhance connectivity and country integration along with cross border markets to support post-COVID-19 recovery,” the statement quoted Dr Khatiwada as saying. "Connectivity is high on the rapid and sustainable development agenda of Nepal. Sustainable transport and sustainable, inclusive and high-quality infrastructure are of cross cutting importance for accelerating economic growth, national and regional economic integration and attaining the sustainable development goals." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Speaking on the occasion, finance secretary Dhungana said that the Project, with its focus on reducing time and cost of moving goods via key transport corridors and border crossing points, will be key to sustain and accelerate our economic growth, especially aiding recovery in the immediate aftermath of COVID-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“The government is working on a 3R –Relief, Recovery and Resilience –strategy to help Nepal build back better from the impacts of the COVID-19 crisis. This project will be critical for boosting economic possibilities and enhancing trade facilitation to speed up recovery and resilience,” reads the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the World Bank, the Strategic Road Connectivity and Trade Improvement Project supports Nepal’s connectivity and trade with neighboring countries including India. “It will improve the Nagdhunga-Naubise-Mugling road and upgrade the Kamala-Dhalkebar-Pathlaiya road to four-lane. The Project will also enhance infrastructure, facilities and sanitation at border crossing points to ease trade constraints and spur agricultural exports,” informed the statement. The bank said that amid the Covid-19 pandemic, the project will also support better screening of goods and people at border facilities, and develop guidance for special working arrangements, such as safe distancing and remote working.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“This Project supports the government’s efforts to put Nepal on the path to economic recovery amid the impacts of the COVID-19 crisis. It will help facilitate regional trade and connectivity and create jobs while ensuring safety and efficiency of the strategic roads network,” the statement quoted Hadad-Zervos as saying. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the World Bank, the project will also support institutional strengthening of the National Road Safety Council and the Department of Roads, and periodic maintenance of high-traffic roads within the Strategic Road Network. A contingency emergency response component is also included in the project to reallocate project funds to support emergency response and recovery.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11936', 'image' => '20200719042203_world bank nepal.jpg', 'article_date' => '2020-07-19 16:21:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '31' ) ), (int) 14 => array( 'Article' => array( 'id' => '12188', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs Skeptical about Implementation of Monetary Policy ', 'sub_title' => '', 'summary' => 'Tourism entrepreneur who are in anxiety due to the mounting losses think that the Monetary Policy for FY 2020/21 will bring some relief to the sector.', 'content' => '<pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: Tourism entrepreneur who are in anxiety due to the mounting losses think that the Monetary Policy for FY 2020/21 will bring some relief to the sector.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The policy has some special arrangements in working capital loans, concessional loans and refinancing scheme for the revival of aviation business, transport, hotel, restaurant and tourism sector enterprises to overcome the losses caused by the Covid-19 crisis.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The new monetary policy has extended the repayment deadline of loan installment by two years for the under-construction tourist hotel projects that have been halted due to Covid-19 pandemic.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Hoteliers say that the provision to direct development bank and financial institutions to mandatorily provide 20 percent and 15 percent loans, respectively, of their total paid-up capital to the tourism sector will provide relief for small and medium-sized hotels.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai said that that the monetary policy will be crucial and positive for of reestablishment of the tourism sector businesses affected by the Covid-19 pandemic.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“The monetary policy has included most of the suggestions of the ministry and tourism entrepreneurs,” he said.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Stakeholders have welcomed the policy. However, they are skeptical over the implementation of the measures.</span></span> <span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“Even though the monetary policy has tried to address the demand of the overall tourism industry, its implementation is doubtful,” said Yograj Sharma Kandel, spokesperson of the Airlines Operators Association of Nepal.</span></span></span></span></pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif"> "There were some good measures in the 2015 monetary policy, which was announced after the earthquake, to help businesses in trouble. However, the measures were not implemented at all. This is likely to happen now,” he added.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Similarly, Sajan Shakya, general secretary of the Hotel Association of Nepal (HAN) said that the measures in the policy are crucial to revive the tourism industry affected by the pandemic. “However, the implementation is important than the policy itself,” mentioned Shakya.</span></span></span></span></pre> <p> </p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '11935', 'image' => '20200719042015_Tourism Nepal.jpg', 'article_date' => '2020-07-19 16:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ) ) $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' => '12203', 'article_category_id' => '1', 'title' => 'Nepal Telecom to Provide Utility Payment Service ', 'sub_title' => '', 'summary' => 'July 21: Nepal Rastra Bank has given letter of intent (LOI) to Nepal Telecom to operate payment service (mobile money) including utility payment service.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">July 21: Nepal Rastra Bank has given letter of intent (LOI) to Nepal Telecom to operate payment service (mobile money) including utility payment service. The central bank has paved way for Nepal Telecom to operate such service after an agreement in principle between the two organisations.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Nepal Telecom had filed an application with NRB a year ago to operate payment service in collaboration with Rastriya Banijya Bank (RBB). Nepal Telecom spokesperson Rajesh Joshi said that they have received the LOI from NRB and the necessary process for the operation of the service has been initiated. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">To provide the utility payment service, Nepal Telecom and RBB must establish a separate company with their joint investment. Nepal Telecom needs to file another application within six months for final approval after managing necessary infrastructure for the new venture.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">NRB will then conduct necessary study such as the company’s staff, software and other issues and give final approval for the operation within a month. NRB says Nepal Telecom can operate the new service only after fulfilling all the criteria.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The paid-up capital of the joint-venture company, where the majority shares will be of Nepal Telecom, has to be Rs 1 billion. Spokesperson Joshi said that the company will be registered within a week. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“We have already started the process to establish the joint venture company. Probably, the company will be registered within a week,” he said, “Then we will make necessary arrangement for infrastructure such as installing software, setting up office and visit central bank for final approval.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">This new service is a kind of digital wallet. Customers will be able to make various payments through a mobile application by registering their mobile number and account number of RBB. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There will also be a top-up service. According to Nepal Telecom, all types of transactions can be done through the app. RBB will have its role in amount settlement. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Telecommunication companies are working as a payment service provider in abroad. In some countries, telecom companies are ahead of banks in this regard. This is the first time in Nepal that a payment service has been launched under the leadership of a telecom company. For this, Nepal Telecom has already completed all necessary procedures. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Managing Director of the Nepal Telecom, Dilliram Adhikari, said this new service will provide accessibility of digital transaction to the people of rural areas as well. “Nepal Telecom has reached to the places where banking service is not yet available,” he said adding, “In this regard, it is expected that it will be easier to provide them banking services.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">He further said the mobile money service is being launched with the objective of increasing financial inclusion and access to digital transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“While we have a nationwide network, RBB has a long experience in the financial sector,” he said, adding, “We can operate the service effectively by using two pillars.” Adhikari also said that the service would be more reliable as both Nepal Telecom and RBB are government-owned companies. </span></span></span></p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11951', 'image' => '20200721022343_1595282477.Clipboard05.jpg', 'article_date' => '2020-07-21 14:22:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12204', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs to Resume Service from July 22 ', 'sub_title' => '', 'summary' => 'July 21: Transport entrepreneurs have reached an understanding with the government to resume public transportation service from Wednesday (July 22). ', '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"">July 21: Transport entrepreneurs have reached an understanding with the government to resume public transportation service from Wednesday (July 22). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Transport entrepreneurs made such announcement following a meeting with the Director General of the Department of Transport Management Gogan Bahadur Hamal on Monday. The two sides discussed about the work procedure on resuming public transportation service. During the meeting, DoTM agreed to bear 50 percent premium for the insurance coverage of those involved in transportation service. DoTM, on behalf of the government, agreed to pay 50 percent insurance premium against coronavirus for drivers and helpers of public vehicles. Government authorities also agreed to recommending setting up a fund for providing relief to drivers and helpers in case they die of coronavirus. Following the understanding, the transport entrepreneurs agreed to resume their service from Wednesday.</span></span></span></span></p> <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 government had decided to lift a ban on public transport last week, some transport entrepreneurs and workers’ union had decided not to resume service without getting assurance from the government. They were demanding security of frontline workers and relief during the lockdown period as a precondition for resuming 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 Unicode MS"">The transport entrepreneurs showed flexibility in resuming service after a meeting with Prime Minister KP Sharma Oli. Their concerns were also addressed by the monetary policy for the upcoming fiscal year. However, they were still reluctant to resume service outright due to the security of drivers and helpers. </span></span></span></span></p> <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, DoTM has assured the transport entrepreneurs that it will take initiative to resume long-route vehicles as well. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11950', 'image' => '20200721030826_1595264681.yatayat.jpg', 'article_date' => '2020-07-21 15:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12202', 'article_category_id' => '1', 'title' => 'Foreign Exporters Demand Release of Goods Held at Customs Points', 'sub_title' => '', 'summary' => 'July 21: Foreign exporters have appealed to the Nepalese diplomatic missions abroad to facilitate the release of large quantity of dry fruits, peas, pepper, betel nuts and dates that are currently stopped in ports in Nepal and India.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 21: Foreign exporters have appealed to the Nepalese diplomatic missions abroad to facilitate the release of large quantity of dry fruits, peas, pepper, betel nuts and dates that are currently stopped in ports in Nepal 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">The exporters have written letter to the Nepali Embassy in Canada requesting to facilitate the release of the goods after not receiving payment from Nepali importers.</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">Companies including Marina Commodities of Canada, Agrocrop International, Swiss Singapore Canada, PKT Associates have requested Bhrigu Dhungana, Nepal’s Ambassador to Canada, for supporting them to clear the goods from the ports and for the clearance of dues. Nepali importers have been importing chick peas from these companies.</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 payment for these goods have been stopped after the customs offices halted the inspection of the goods. The Department of Customs informed that it had stopped the inspection because the importers had imported the goods 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">However, the importers complain that the payment of more than a dozen exporters have been withheld due to the delay in inspection by the government authorities.</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 had banned the import of chick peas, betel nuts, dates and pepper on April 30.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The Birgunj Dry Port has suspended the inspection of 500 containers for almost three months citing lack of prior approval from the Food Department. Importers suggest that additional 500 containers are stranded at the container freight station in Indian ports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11949', 'image' => '20200721014644_1595282830.Clipboard08.jpg', 'article_date' => '2020-07-21 13:46:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12199', 'article_category_id' => '1', 'title' => 'Government Gives the Nod to Resume Air Service from August 17', 'sub_title' => '', 'summary' => 'July 21: The government has decided to resume air service almost after a month from August 17.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">July 21: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has decided to resume air service almost after a month from August 17. A cabinet meeting on Monday (July 20) decided to resume both domestic and international 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 Unicode MS"">The Council of Ministers has endorsed the proposal to instruct the Ministry of Culture, Tourism and Civil Aviation to start necessary homework to this effect.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai confirmed that cabinet has assigned the ministry to take required measures to resume air service, which has been halted since the government imposed lockdown on March 24.</span></span></span></span></p> <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 ministry had earlier sent a proposal to the Covid-19 Crisis Management Centre to resume domestic flights from August 5 and international flights from August 17. However, the cabinet decided to resume both domestic and international flights from August 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The cabinet meeting also decided to ease the lockdown measures. The government has been extending the lockdown time and again to contain the spread of coronavirus. The current lockdown expires this Wednesday (July 22).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, the government had decided to resume transportation service within the districts. The latest decision of cabinet also allows phase-wise opening of inter-district transportation from now onward.</span></span></span></span></p> <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, CCMC had presented a proposal to the cabinet on Sunday requesting a review of ban on transportation, tourism business, operation of hotels, schools and a clamp down on sports activities based on new assessment of Covid-19 situation. As per the recommendation, the government has agreed to ease the lockdown measures. However, the government is yet to announce the new model of lockdown. Informed sources said that the government spokesperson will shed light on the latest decision during a regular press meet. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11948', 'image' => '20200721115456_1595259768.widebody_.jpg', 'article_date' => '2020-07-21 11:53:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12201', 'article_category_id' => '1', 'title' => 'Government Launches Youth Employment Project in Collaboration with World Bank ', 'sub_title' => '', 'summary' => 'July 21: The government on Monday (July 20) launched the ‘Youth Employment Transformation Initiative’ project in collaboration with the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">July 21: The government on Monday (July 20) launched the ‘Youth Employment Transformation Initiative’ project in collaboration with the World Bank.</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:Arial">The World Bank said in a joint statement that Minister for Labor, Employment and Social Security Rameshwor Raya Yadav and World Bank Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos jointly launched the project amid a function on July 20. </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:Arial">Financed by the World Bank to promote domestic employment, the project will enable poor and vulnerable youth gain access to employment, skills development and capacity building opportunities, the statement 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:Arial">Aligned with the Prime Minister Employment Program, the $120 million project will be implemented over the next four years with a focus on improving employment services and labor market outcomes, especially for youth.</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:Arial">“With the onset of COVID-19 and the subsequent contraction of the global job market, Nepal’s labor market is also affected with a huge number of job losses. In this context, result-driven implementation of the project at all three levels of the government is of critical importance,” the statement quoted Labour Minister Yadav as saying. </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:Arial">“This project plays a crucial role to expand the employment opportunities in the domestic labor market and to set up an automated system of Labor Information Bank and upgrade the Employment Management Information System<em> </em>by consolidating basic labor market information such as profile of the unemployed persons including knowledge, skills, experience and the potential sector for employment along with the demand and supply aspects of the labor market,” added Minister Yadav thanking the development partner for the continual support in the internal labor market strategy of Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">World Bank’s Country Director for Nepal Hadad-Zervos said that </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">the project funding is being frontloaded this year to support over 75,000 of the most vulnerable unemployed youth at the local level as part of the World Bank’s COVID-19 response. He added that this project would help the unemployed youth to earn 100 days of wages each through the creation of temporary employment opportunities in the maintenance and upgrading of public infrastructure.</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:Arial">“Working with the government, development partners and the private sector, the World Bank will seek to contribute to a long thread of engagements that align to make a difference in the lives of the most vulnerable people,” Hadad-Zervos 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:Arial">The project agreement was signed in November 2019 by the Government of Nepal and the World Bank. Of the $120 million credit, about 90 percent is allocated to the local levels to create jobs in the maintenance and upgrading of public infrastructure and public services for 100,000 unemployed youth, 60% of whom will be women as per the project’s priority to inclusion. </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:Arial">According to the World Bank, the project will support 753 Employment Service Centers at the local levels to strengthen the workforce and to provide services in registration, profiling, referral, temporary work placement and on-the-job training. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11947', 'image' => '20200721124426_World Bank_Yeti.jpg', 'article_date' => '2020-07-21 12:43:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12200', 'article_category_id' => '1', 'title' => 'FDI Pledges worth Rs 39 Billion in Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 21: Foreign investors pledged investment of around Rs 39 billion to as many as 226 industries in Nepal in the last fiscal year, according to the Department of Industries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">July 21: Foreign investors pledged investment of around Rs 39 billion to as many as 226 industries in Nepal in the last fiscal year, according to the Department of Industries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Majority of the Foreign Direct Investment (FDI) was committed by Chinese firms. Firms from China pledged to invest Rs 25.57 billion for 174 industries followed by India standing at Rs 3.57 billion for 16 industries, informed Spokesperson Binod Kumar Khadka.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Khadka further shared that more than 17 countries abroad had pledged to invest in 226 industries. Among the commitments received for investment, service sector has received the highest investment, informed Khadka. More than Rs 11 billion has been pledged for 73 industries in service sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Similarly, 81 industries in the tourism sector have received commitment of over Rs 10 billion. Likewise, over Rs 70 billion was pledged for information and technology sector involving 37 industries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">A total of 277 new enterprises were registered in the last fiscal year. The total capital of those newly registered enterprises was over Rs 152 billion. <em>(RSS)</em></span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11946', 'image' => '20200721122137_20170512120504_co.jpg', 'article_date' => '2020-07-21 12:21:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12197', 'article_category_id' => '1', 'title' => 'NAC Decides to Ground Chinese Aircraft', 'sub_title' => '', 'summary' => 'July 20: Nepal Airlines Corporation has decided to stop using Chinese aircraft from July 30 after incurring losses regularly. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: Nepal Airlines Corporation has decided to stop using Chinese aircraft from July 30 after incurring losses regularly. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The flag carrier of Nepal currently has four Y-12 and two MA-60 Chinese-made aircraft. MA-60 has a capacity to carry 56 passengers while the Y-12 is an 18-seater aircraft used for domestic flights.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Stating that the state-owned aircraft company of Nepal has been incurring losses regularly while operating these aircraft, NAC decided to stop using them altogether. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A board meeting of NAC recently decided to halt the operation of the Chinese aircraft, said a source informed about the matter. According to the source, the board assessed that NAC has incurred losses worth Rs 1.9 billion from Fiscal Year 2071/72 to FY 2075/76 while operating the Chinese aircraft. Fearing that the airline company would face further losses if it continues using the Chinese aircraft, the board decided to stop their operation. NAC estimates the losses will climb to Rs 2.3 billion in the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. Therefore, the board decided to stop the operation of the Chinese aircraft, the source said on condition of anonymity.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A board member of NAC informed that the national flag carrier of Nepal cannot operate the aircraft and therefore decided to ground them. The board member said that they have written a letter to the Ministry of Culture, Tourism and Civil Aviation that it is not commercially viable to operate these aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The NAC board has been discussing this issue since the last 20 board meetings but has not been able to decide on proper management of these aircraft. Now, it is up to the government to decide the next step, the board member said.</span></span></p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11945', 'image' => '20200720042841_1595176009.aircraft nepal airlines.jpg', 'article_date' => '2020-07-20 16:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12198', 'article_category_id' => '1', 'title' => 'Independent Power Producers Demand Incentives for Merger', 'sub_title' => '', 'summary' => 'July 20: Energy producers of the private sector have demanded necessary policy that encourages the production, transmission and distribution of electricity in case the independent power producers want to opt for merger. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">July 20: Energy producers of the private sector have demanded necessary policy that encourages the production, transmission and distribution of electricity in case the independent power producers want to opt for merger. They have demanded exemption in royalty for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The Electricity Regulatory Commission has already unveiled the draft of the Directive on Merger, Acquisition, Purchase and Transfer of Authorised Person or Projects 2077.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The commission is preparing to finalize the draft. In the mean time, energy producers have demanded favourable policy to go for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The draft has a provision of merger between authorised projects that are involved in production, transmission and distribution of electricity. There is also a provision for one project to acquire, purchase or transfer the shares of other projects.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">Promoters of the private companies have taken the proposal of merger positively. The promoters of private energy sector have been demanding facilities similar to those provided by the central bank to encourage the merger of BFIs. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">Vice President of Independent Power Producers of Nepal (IPPAN) Kumar Pandey says it is important to provide incentives for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">“Merger of hydropower project itself is a positive step. However, it is important to provide facilities for the projects that opt for merger. This issue is missing in the draft,” said Pandey.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11944', 'image' => '20200720050237_1595198302.Clipboard18.jpg', 'article_date' => '2020-07-20 17:01:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12196', 'article_category_id' => '1', 'title' => 'Handicraft Entrepreneurs Choosing Alternative Occupation ', 'sub_title' => '', 'summary' => 'July 20: Handicraft entrepreneurs, whose business has been shut down for a long time due to coronavirus pandemic, have started turning into alternative occupation.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">July 20: Handicraft entrepreneurs, whose business has been shut down for a long time due to coronavirus pandemic, have started turning into alternative occupation. Entrepreneurs, craftsman and business persons involved in this sectors are in crisis after tourists stopped coming to Nepal even before the spread of coronavirus in Nepal. As the handicraft industry is directly linked with the tourism industry, it has been badly affected due to the closure of tourism sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the president of Nepal Handicraft Association, Hari Century, around 50 percent handicraft entrepreneurs and workers have chosen other profession as it will still take around two years for tourism industry to flourish again.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman""> “They are now involved in vegetable farming and animal husbandry,” he said. Some of them are thinking of returning to the business in the coming days if the situation improves. But it is expected that some will abandon the sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Achyut Aryal, who has been making and selling handicraft products since 40 years at Basantapur, is now into maize farming after people stopped purchasing handicrafts. He has started the farming by renting 15 ropani land in Godawari, Lalitpur. “Neither there is the possibility of tourists coming to Nepal nor is export possible due to coronavirus. Even though we open the shops, there aren’t any buyers,” he said, adding, “I am obliged to get into agriculture as the business has dried up.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">As per the statistics of the Federation of Handicraft Association of Nepal (FHAN), Nepali handicraft products worth Rs 6 billion was sold in the international market last year. The major market for Nepali handicrafts is the USA, China and European countries. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In an average, handicraft products worth Rs 11 billion to Rs 15 billion is exported from Nepal yearly, while it is estimated that around 1 million people (including businessmen, entrepreneurs and workers) are involved in this sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the president of FHAN, Surendra Bahi Shakya, the situation of Nepali handicraft is very critical for the next one year. He said that many people have had to change their profession until the situation becomes favourable. Moreover, he states that although the production of felt which was ordered before the lockdown is underway, they are facing problem in export. He further informed that the businessmen could not send some products from Nepal in the rescue flights due to exorbitant fare. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“As the fare was five times high than normal charge, we have not been able to send the ordered products,” he said. Entrepreneurs and businessmen are frustrated as they could not sell the goods. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Places like Basantapur, Thamel, and Patan where the handicrafts used to be made and sold are still deserted, due to which there is no business even if they open their shops. Handmade pashmina, felt, thanka and painting, wood carving, sculpture, and metalwork, etc fall under handicraft products. </span></span></span></p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11943', 'image' => '20200720025203_20160802043332_meta.jpg', 'article_date' => '2020-07-20 14:51:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12195', 'article_category_id' => '1', 'title' => 'Importers Spending Millions for Electronic Tracking System Despite Lack of Tracking Facility', 'sub_title' => '', 'summary' => 'July 20: In the last fiscal year (2019/20), Nepali importers spent millions of rupees on electronic container tracking system (ECTS) to track their container cargo imported into Nepal using Indian ports and railways.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">July 20: In the last fiscal year (2019/20), Nepali importers spent millions of rupees on electronic container tracking system (ECTS) to track their container cargo imported into Nepal using Indian ports and railways.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">However, the importers complain that the service provider despite charging the fees did not provide the container tracking facility to them.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">The GPS-based system is currently being used to track the transshipment of goods imported from the third countries to the Indian ports of Kolkata and Visakhapatnam. Such tracking system came in operation in Kolkata on February 15, 2019 and before that in Visakhapatnam port on August 28, 2018.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">In 2019/20, a total of 108,000 thousand containers were imported to Nepal from third countries. Of the total containers, 59,214 entered Nepal through Birgunj Dry Port by rail. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Transcure Telematics Pvt Ltd, has been providing the ECTS service. The company charges Rs 3,400 per container to the importers. However, Nepali importers complain that another company working as a middle agent has been charging them to Rs 10,000 for the same service.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Nepali importers have so far spent at least Rs 320 million for availing the tracking service. However, Nepali entrepreneurs complain that Transcure, despite charging them millions, has not provided the tracking service.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Importer Suresh Rungta complained that the service provider charges them hefty amount but is not providing the tracking service. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The charge for this reusable electronic system is exorbitant. On top of that, tracking facility has not been provided to the importers,” claimed industrialist Rungta.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11942', 'image' => '20200720023416_95196488.Clipboard05.jpg', 'article_date' => '2020-07-20 14:27:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12193', 'article_category_id' => '1', 'title' => 'Hotel Entrepreneurs Agree to Pay Minimum Salary to Workers', 'sub_title' => '', 'summary' => 'July 20: The hotel entrepreneurs have agreed to pay minimum monthly salary to their staffers despite the industry remaining closed since the last four months due to the lockdown imposed by the government to contain the spread of coronavirus. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: The hotel entrepreneurs have agreed to pay minimum monthly salary to their staffers despite the industry remaining closed since the last four months due to the lockdown imposed by the government to contain the spread of coronavirus. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The entrepreneurs have agreed to pay between Rs 4,300 to Rs 10,000 to the staffers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Hotel Association of Nepal informed during a press conference on Sunday (July 19) that they have agreed pay the amount to the workers after reaching an understanding with the workers’ union.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to HAN, this agreement will remain valid from April 13, 2020 to 31 December 2020. With this understanding, the payment issue of hotel staffers has finally been resolved.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">As per the understanding, hotel employees will receive the minimum amount even if they are unable to join office or the employer is unable to provide job due to any circumstances during this period. The staffers will receive anything between Rs 4,300 to Rs 10,000 depending on the standard of the hotel where they work, informed president of HAN Srijana Rana.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The hotel industry has been completely closed due to coronavirus and the subsequent lockdown imposed since March 24. Rana said that the agreement has set a good precedent among the employers and the employees during the crisis period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the understanding, deluxe and five-star hotels and resorts with more than 200 rooms will pay Rs 10,000 per month to their workers. Likewise, deluxe and five-star hotels with less than 200 rooms will pay Rs 9000 to their staffers. Similarly, four-star hotels with more than 100 rooms will pay Rs 8455 to their workers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Four-star hotels with less than 100 rooms will pay Rs 8000 to the employees while 3-star hotels have agreed to pay Rs 5000 per month to the workers. Likewise, two-star hotels have agreed to pay Rs 4300 to the workers while the minimum pay for employees of one-star hotels and other restaurants will be decided by the concerned parties, informed Binayak Shah, senior vice president of HAN.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Meanwhile, General Secretary of HAN Sajan Shakya said that the hotel entrepreneurs and workers’ union have also agreed to deploy staffers on need basis and in different shifts as per the requirement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The agreement further states that the employees who wish to take voluntary retirement from service can avail all the benefits guaranteed before the lockdown period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11940', 'image' => '20200720010231_han.jpg', 'article_date' => '2020-07-20 12:44:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12191', 'article_category_id' => '1', 'title' => 'Delay in Completion of National Pride Projects adds Cost Burden of Rs 282 Billion', 'sub_title' => '', 'summary' => 'July 20: Altogether 21 national pride projects, prioritized by the government to attain economic, are currently under construction. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: Altogether 21 national pride projects, prioritized by the government to attain economic, are currently under construction. However, the delay in timely completion of 12 such projects has added financial burden of Rs 282.43 billion to the state coffers. Had these projects been completed on time or delayed by only a year, the government would not have had to incur such huge amount needlessly. The extra amount spent in the projects could have been utilized to complete the Budhi Gandaki Hydropower Project.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The initial cost estimate of Budhi Gandaki project, which is yet to start physical infrastructure work, is said to be around Rs 260 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The 57<sup>th</sup> annual report of the Financial Comptroller General’s Office states that the cost of the national pride projects has been increasing due to the delay in completion of the work.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The additional expenses of these projects are more than the capital expenditure of the government announced for the fiscal year 2072/73. The government had allocated a total of Rs 208.87 billion as capital expenditure for FY 2072/73.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The government is finding it quite challenging to manage source of investment to meet the additional cost burden of the national pride projects due to the inordinate delay in completion of the works. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Pushpalal Mid-Hill Highway is one of the national pride projects which has taken a long time for completion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The project which started in 2064/65 BS (2007/2008 AD) was supposed to be complete in a decade by 2074/75 BS (2017/18 AD). However, the deadline for the project has been extended by five years, which has increased the total cost estimate to Rs 84.33 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The initial cost estimate of the project was just Rs 33.36 billion. Had the government completed the project on time, it could have saved Rs 50.97 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the annual report of the Financial Comptroller General’s Office, the fate of other projects is also similar. The Babai Irrigation Project, which was initiated in FY 2044/45 BS more than two decades ago was set to be completed by 2069/70. However, the deadline of the project has been extended by 10 more years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The cost of the project which was estimated to be Rs 2.87 billion initially has now increased to Rs 18.96 billion. According to the report, most of the irrigation projects have been facing delay in completion.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11938', 'image' => '20200720114511_1595199291.jpg', 'article_date' => '2020-07-20 11:43:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12190', 'article_category_id' => '1', 'title' => 'Capacity Utilisation of Carpet Industry Reaches 20% ', 'sub_title' => '', 'summary' => 'The capacity utilisation of Nepali carpet industries has increased to 20 percent after the easing of the lockdown. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: The capacity utilisation of Nepali carpet industries has increased to 20 percent after the easing of the lockdown. However, export of carpet has not resumed due to the continuing ban on international flight. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Entrepreneurs say that while previously produced carpets could not be exported, new products will unlikely to come into the market. According to them, they have to run the industries to sustain workers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">As the exports have been halted due to covid-19 pandemic, carpets worth Rs 4 billion are stuck in warehouses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The wool carpets produced in Nepal are exported in more than 50 countries including America, China, Germany, UK, Italy, France, Canada, Belgium and Australia. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to Tenzing Sherpa, vice president of Nepal Carpet Manufacturers and Exporters Association, it is not possible to export Nepali carpets currently. The demand in the US, Europe and the UK, where Nepali carpets are exported in large quantities, has decreased due to the pandemic. “The demand of Nepali carpet has dropped by 80 percent as the international market is also almost closed. On the other hand, even if we want to export, there is no favorable environment now,” Sherpa said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Nepali carpet exporters mainly export carpets to foreign countries through the Kolkata Port in India. However, compared to countries including India and Pakistan, it takes more time for Nepali exporters to supply their products to foreign markets. "It takes 2-3 months for our carpets to reach major foreign markets," mentioned Sherpa</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the Nepal Carpet Manufacturers and Exporters Association, only a small number of carpets exported to China are being produced. According to Amrit Tamang, CEO of the association, the compulsion to manufacture carpets to support the workers and the increase in stock of have hit the carpet manufacturers hard. “We have not been able to export, on top of our stocks are increasing,” he said. At present, more than 300,000 people in Nepal are dependent on the carpet industry. Similarly, there are about 700 entrepreneurs and more than 150 exporters in the carpet exporters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the Customs Department, carpets worth Rs. 7.36 billion were exported from Nepal in the fiscal year 2075/76. Carpet exports have declined by about 19% in the first 11 months of FY 2076/77. During this period, carpets worth Rs 5.5 billion have been exported from Nepal. Now, the main market for Nepali carpets is the United States, followed by Germany, the UK, and China. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the carpet entrepreneurs, there is no shortage of raw material as of now, as there was stock of raw materials even before the lockdown. The raw materials for the carpet in Nepal are mainly imported from Tibet and New Zealand. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '11937', 'image' => '20200719042410_Nepali Carpet.jpg', 'article_date' => '2020-07-19 16:22:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '31' ) ), (int) 13 => array( 'Article' => array( 'id' => '12189', 'article_category_id' => '1', 'title' => 'Govt and World Bank Sign USD 450 mn Road Support Project Financing Agreement', 'sub_title' => '', 'summary' => 'The government and the World Bank on Friday signed a USD 450 million (around Rs 54 billion) financing agreement to improve the efficiency and safety of transport infrastructure, cross-border trade, and strengthen capacity for strategic road network management. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: The government and the World Bank on Friday signed a USD 450 million </span></span><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">(around Rs 54 billion) </span></span><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">financing agreement to improve the efficiency and safety of transport infrastructure, cross-border trade, and strengthen capacity for strategic road network management. Issuing a press statement, the Washington D.C.-based lender said that this is the single largest value project that the Nepal government has signed with the World Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The agreement was signed by Finance Secretary Sishir Kumar Dhungana and Faris Hadad-Zervos, World Bank Country Director for Maldives, on the presence of Minister for Finance Dr Yuba Raj Khatiwada. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“We thank the World Bank Group for supporting this important project which will enhance connectivity and country integration along with cross border markets to support post-COVID-19 recovery,” the statement quoted Dr Khatiwada as saying. "Connectivity is high on the rapid and sustainable development agenda of Nepal. Sustainable transport and sustainable, inclusive and high-quality infrastructure are of cross cutting importance for accelerating economic growth, national and regional economic integration and attaining the sustainable development goals." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Speaking on the occasion, finance secretary Dhungana said that the Project, with its focus on reducing time and cost of moving goods via key transport corridors and border crossing points, will be key to sustain and accelerate our economic growth, especially aiding recovery in the immediate aftermath of COVID-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“The government is working on a 3R –Relief, Recovery and Resilience –strategy to help Nepal build back better from the impacts of the COVID-19 crisis. This project will be critical for boosting economic possibilities and enhancing trade facilitation to speed up recovery and resilience,” reads the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the World Bank, the Strategic Road Connectivity and Trade Improvement Project supports Nepal’s connectivity and trade with neighboring countries including India. “It will improve the Nagdhunga-Naubise-Mugling road and upgrade the Kamala-Dhalkebar-Pathlaiya road to four-lane. The Project will also enhance infrastructure, facilities and sanitation at border crossing points to ease trade constraints and spur agricultural exports,” informed the statement. The bank said that amid the Covid-19 pandemic, the project will also support better screening of goods and people at border facilities, and develop guidance for special working arrangements, such as safe distancing and remote working.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“This Project supports the government’s efforts to put Nepal on the path to economic recovery amid the impacts of the COVID-19 crisis. It will help facilitate regional trade and connectivity and create jobs while ensuring safety and efficiency of the strategic roads network,” the statement quoted Hadad-Zervos as saying. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the World Bank, the project will also support institutional strengthening of the National Road Safety Council and the Department of Roads, and periodic maintenance of high-traffic roads within the Strategic Road Network. A contingency emergency response component is also included in the project to reallocate project funds to support emergency response and recovery.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11936', 'image' => '20200719042203_world bank nepal.jpg', 'article_date' => '2020-07-19 16:21:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '31' ) ), (int) 14 => array( 'Article' => array( 'id' => '12188', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs Skeptical about Implementation of Monetary Policy ', 'sub_title' => '', 'summary' => 'Tourism entrepreneur who are in anxiety due to the mounting losses think that the Monetary Policy for FY 2020/21 will bring some relief to the sector.', 'content' => '<pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: Tourism entrepreneur who are in anxiety due to the mounting losses think that the Monetary Policy for FY 2020/21 will bring some relief to the sector.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The policy has some special arrangements in working capital loans, concessional loans and refinancing scheme for the revival of aviation business, transport, hotel, restaurant and tourism sector enterprises to overcome the losses caused by the Covid-19 crisis.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The new monetary policy has extended the repayment deadline of loan installment by two years for the under-construction tourist hotel projects that have been halted due to Covid-19 pandemic.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Hoteliers say that the provision to direct development bank and financial institutions to mandatorily provide 20 percent and 15 percent loans, respectively, of their total paid-up capital to the tourism sector will provide relief for small and medium-sized hotels.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai said that that the monetary policy will be crucial and positive for of reestablishment of the tourism sector businesses affected by the Covid-19 pandemic.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“The monetary policy has included most of the suggestions of the ministry and tourism entrepreneurs,” he said.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Stakeholders have welcomed the policy. However, they are skeptical over the implementation of the measures.</span></span> <span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“Even though the monetary policy has tried to address the demand of the overall tourism industry, its implementation is doubtful,” said Yograj Sharma Kandel, spokesperson of the Airlines Operators Association of Nepal.</span></span></span></span></pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif"> "There were some good measures in the 2015 monetary policy, which was announced after the earthquake, to help businesses in trouble. However, the measures were not implemented at all. This is likely to happen now,” he added.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Similarly, Sajan Shakya, general secretary of the Hotel Association of Nepal (HAN) said that the measures in the policy are crucial to revive the tourism industry affected by the pandemic. “However, the implementation is important than the policy itself,” mentioned Shakya.</span></span></span></span></pre> <p> </p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '11935', 'image' => '20200719042015_Tourism Nepal.jpg', 'article_date' => '2020-07-19 16:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ) ) $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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The central bank has paved way for Nepal Telecom to operate such service after an agreement in principle between the two organisations.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Nepal Telecom had filed an application with NRB a year ago to operate payment service in collaboration with Rastriya Banijya Bank (RBB). Nepal Telecom spokesperson Rajesh Joshi said that they have received the LOI from NRB and the necessary process for the operation of the service has been initiated. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">To provide the utility payment service, Nepal Telecom and RBB must establish a separate company with their joint investment. Nepal Telecom needs to file another application within six months for final approval after managing necessary infrastructure for the new venture.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">NRB will then conduct necessary study such as the company’s staff, software and other issues and give final approval for the operation within a month. NRB says Nepal Telecom can operate the new service only after fulfilling all the criteria.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The paid-up capital of the joint-venture company, where the majority shares will be of Nepal Telecom, has to be Rs 1 billion. Spokesperson Joshi said that the company will be registered within a week. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“We have already started the process to establish the joint venture company. Probably, the company will be registered within a week,” he said, “Then we will make necessary arrangement for infrastructure such as installing software, setting up office and visit central bank for final approval.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">This new service is a kind of digital wallet. Customers will be able to make various payments through a mobile application by registering their mobile number and account number of RBB. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There will also be a top-up service. According to Nepal Telecom, all types of transactions can be done through the app. RBB will have its role in amount settlement. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Telecommunication companies are working as a payment service provider in abroad. In some countries, telecom companies are ahead of banks in this regard. This is the first time in Nepal that a payment service has been launched under the leadership of a telecom company. For this, Nepal Telecom has already completed all necessary procedures. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Managing Director of the Nepal Telecom, Dilliram Adhikari, said this new service will provide accessibility of digital transaction to the people of rural areas as well. “Nepal Telecom has reached to the places where banking service is not yet available,” he said adding, “In this regard, it is expected that it will be easier to provide them banking services.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">He further said the mobile money service is being launched with the objective of increasing financial inclusion and access to digital transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“While we have a nationwide network, RBB has a long experience in the financial sector,” he said, adding, “We can operate the service effectively by using two pillars.” Adhikari also said that the service would be more reliable as both Nepal Telecom and RBB are government-owned companies. </span></span></span></p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11951', 'image' => '20200721022343_1595282477.Clipboard05.jpg', 'article_date' => '2020-07-21 14:22:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12204', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs to Resume Service from July 22 ', 'sub_title' => '', 'summary' => 'July 21: Transport entrepreneurs have reached an understanding with the government to resume public transportation service from Wednesday (July 22). ', '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"">July 21: Transport entrepreneurs have reached an understanding with the government to resume public transportation service from Wednesday (July 22). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Transport entrepreneurs made such announcement following a meeting with the Director General of the Department of Transport Management Gogan Bahadur Hamal on Monday. The two sides discussed about the work procedure on resuming public transportation service. During the meeting, DoTM agreed to bear 50 percent premium for the insurance coverage of those involved in transportation service. DoTM, on behalf of the government, agreed to pay 50 percent insurance premium against coronavirus for drivers and helpers of public vehicles. Government authorities also agreed to recommending setting up a fund for providing relief to drivers and helpers in case they die of coronavirus. Following the understanding, the transport entrepreneurs agreed to resume their service from Wednesday.</span></span></span></span></p> <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 government had decided to lift a ban on public transport last week, some transport entrepreneurs and workers’ union had decided not to resume service without getting assurance from the government. They were demanding security of frontline workers and relief during the lockdown period as a precondition for resuming 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 Unicode MS"">The transport entrepreneurs showed flexibility in resuming service after a meeting with Prime Minister KP Sharma Oli. Their concerns were also addressed by the monetary policy for the upcoming fiscal year. However, they were still reluctant to resume service outright due to the security of drivers and helpers. </span></span></span></span></p> <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, DoTM has assured the transport entrepreneurs that it will take initiative to resume long-route vehicles as well. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11950', 'image' => '20200721030826_1595264681.yatayat.jpg', 'article_date' => '2020-07-21 15:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12202', 'article_category_id' => '1', 'title' => 'Foreign Exporters Demand Release of Goods Held at Customs Points', 'sub_title' => '', 'summary' => 'July 21: Foreign exporters have appealed to the Nepalese diplomatic missions abroad to facilitate the release of large quantity of dry fruits, peas, pepper, betel nuts and dates that are currently stopped in ports in Nepal and India.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 21: Foreign exporters have appealed to the Nepalese diplomatic missions abroad to facilitate the release of large quantity of dry fruits, peas, pepper, betel nuts and dates that are currently stopped in ports in Nepal 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">The exporters have written letter to the Nepali Embassy in Canada requesting to facilitate the release of the goods after not receiving payment from Nepali importers.</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">Companies including Marina Commodities of Canada, Agrocrop International, Swiss Singapore Canada, PKT Associates have requested Bhrigu Dhungana, Nepal’s Ambassador to Canada, for supporting them to clear the goods from the ports and for the clearance of dues. Nepali importers have been importing chick peas from these companies.</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 payment for these goods have been stopped after the customs offices halted the inspection of the goods. The Department of Customs informed that it had stopped the inspection because the importers had imported the goods 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">However, the importers complain that the payment of more than a dozen exporters have been withheld due to the delay in inspection by the government authorities.</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 had banned the import of chick peas, betel nuts, dates and pepper on April 30.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The Birgunj Dry Port has suspended the inspection of 500 containers for almost three months citing lack of prior approval from the Food Department. Importers suggest that additional 500 containers are stranded at the container freight station in Indian ports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11949', 'image' => '20200721014644_1595282830.Clipboard08.jpg', 'article_date' => '2020-07-21 13:46:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12199', 'article_category_id' => '1', 'title' => 'Government Gives the Nod to Resume Air Service from August 17', 'sub_title' => '', 'summary' => 'July 21: The government has decided to resume air service almost after a month from August 17.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">July 21: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has decided to resume air service almost after a month from August 17. A cabinet meeting on Monday (July 20) decided to resume both domestic and international 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 Unicode MS"">The Council of Ministers has endorsed the proposal to instruct the Ministry of Culture, Tourism and Civil Aviation to start necessary homework to this effect.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai confirmed that cabinet has assigned the ministry to take required measures to resume air service, which has been halted since the government imposed lockdown on March 24.</span></span></span></span></p> <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 ministry had earlier sent a proposal to the Covid-19 Crisis Management Centre to resume domestic flights from August 5 and international flights from August 17. However, the cabinet decided to resume both domestic and international flights from August 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The cabinet meeting also decided to ease the lockdown measures. The government has been extending the lockdown time and again to contain the spread of coronavirus. The current lockdown expires this Wednesday (July 22).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, the government had decided to resume transportation service within the districts. The latest decision of cabinet also allows phase-wise opening of inter-district transportation from now onward.</span></span></span></span></p> <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, CCMC had presented a proposal to the cabinet on Sunday requesting a review of ban on transportation, tourism business, operation of hotels, schools and a clamp down on sports activities based on new assessment of Covid-19 situation. As per the recommendation, the government has agreed to ease the lockdown measures. However, the government is yet to announce the new model of lockdown. Informed sources said that the government spokesperson will shed light on the latest decision during a regular press meet. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11948', 'image' => '20200721115456_1595259768.widebody_.jpg', 'article_date' => '2020-07-21 11:53:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12201', 'article_category_id' => '1', 'title' => 'Government Launches Youth Employment Project in Collaboration with World Bank ', 'sub_title' => '', 'summary' => 'July 21: The government on Monday (July 20) launched the ‘Youth Employment Transformation Initiative’ project in collaboration with the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">July 21: The government on Monday (July 20) launched the ‘Youth Employment Transformation Initiative’ project in collaboration with the World Bank.</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:Arial">The World Bank said in a joint statement that Minister for Labor, Employment and Social Security Rameshwor Raya Yadav and World Bank Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos jointly launched the project amid a function on July 20. </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:Arial">Financed by the World Bank to promote domestic employment, the project will enable poor and vulnerable youth gain access to employment, skills development and capacity building opportunities, the statement 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:Arial">Aligned with the Prime Minister Employment Program, the $120 million project will be implemented over the next four years with a focus on improving employment services and labor market outcomes, especially for youth.</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:Arial">“With the onset of COVID-19 and the subsequent contraction of the global job market, Nepal’s labor market is also affected with a huge number of job losses. In this context, result-driven implementation of the project at all three levels of the government is of critical importance,” the statement quoted Labour Minister Yadav as saying. </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:Arial">“This project plays a crucial role to expand the employment opportunities in the domestic labor market and to set up an automated system of Labor Information Bank and upgrade the Employment Management Information System<em> </em>by consolidating basic labor market information such as profile of the unemployed persons including knowledge, skills, experience and the potential sector for employment along with the demand and supply aspects of the labor market,” added Minister Yadav thanking the development partner for the continual support in the internal labor market strategy of Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">World Bank’s Country Director for Nepal Hadad-Zervos said that </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">the project funding is being frontloaded this year to support over 75,000 of the most vulnerable unemployed youth at the local level as part of the World Bank’s COVID-19 response. He added that this project would help the unemployed youth to earn 100 days of wages each through the creation of temporary employment opportunities in the maintenance and upgrading of public infrastructure.</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:Arial">“Working with the government, development partners and the private sector, the World Bank will seek to contribute to a long thread of engagements that align to make a difference in the lives of the most vulnerable people,” Hadad-Zervos 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:Arial">The project agreement was signed in November 2019 by the Government of Nepal and the World Bank. Of the $120 million credit, about 90 percent is allocated to the local levels to create jobs in the maintenance and upgrading of public infrastructure and public services for 100,000 unemployed youth, 60% of whom will be women as per the project’s priority to inclusion. </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:Arial">According to the World Bank, the project will support 753 Employment Service Centers at the local levels to strengthen the workforce and to provide services in registration, profiling, referral, temporary work placement and on-the-job training. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11947', 'image' => '20200721124426_World Bank_Yeti.jpg', 'article_date' => '2020-07-21 12:43:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12200', 'article_category_id' => '1', 'title' => 'FDI Pledges worth Rs 39 Billion in Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 21: Foreign investors pledged investment of around Rs 39 billion to as many as 226 industries in Nepal in the last fiscal year, according to the Department of Industries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">July 21: Foreign investors pledged investment of around Rs 39 billion to as many as 226 industries in Nepal in the last fiscal year, according to the Department of Industries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Majority of the Foreign Direct Investment (FDI) was committed by Chinese firms. Firms from China pledged to invest Rs 25.57 billion for 174 industries followed by India standing at Rs 3.57 billion for 16 industries, informed Spokesperson Binod Kumar Khadka.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Khadka further shared that more than 17 countries abroad had pledged to invest in 226 industries. Among the commitments received for investment, service sector has received the highest investment, informed Khadka. More than Rs 11 billion has been pledged for 73 industries in service sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Similarly, 81 industries in the tourism sector have received commitment of over Rs 10 billion. Likewise, over Rs 70 billion was pledged for information and technology sector involving 37 industries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">A total of 277 new enterprises were registered in the last fiscal year. The total capital of those newly registered enterprises was over Rs 152 billion. <em>(RSS)</em></span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11946', 'image' => '20200721122137_20170512120504_co.jpg', 'article_date' => '2020-07-21 12:21:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12197', 'article_category_id' => '1', 'title' => 'NAC Decides to Ground Chinese Aircraft', 'sub_title' => '', 'summary' => 'July 20: Nepal Airlines Corporation has decided to stop using Chinese aircraft from July 30 after incurring losses regularly. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: Nepal Airlines Corporation has decided to stop using Chinese aircraft from July 30 after incurring losses regularly. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The flag carrier of Nepal currently has four Y-12 and two MA-60 Chinese-made aircraft. MA-60 has a capacity to carry 56 passengers while the Y-12 is an 18-seater aircraft used for domestic flights.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Stating that the state-owned aircraft company of Nepal has been incurring losses regularly while operating these aircraft, NAC decided to stop using them altogether. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A board meeting of NAC recently decided to halt the operation of the Chinese aircraft, said a source informed about the matter. According to the source, the board assessed that NAC has incurred losses worth Rs 1.9 billion from Fiscal Year 2071/72 to FY 2075/76 while operating the Chinese aircraft. Fearing that the airline company would face further losses if it continues using the Chinese aircraft, the board decided to stop their operation. NAC estimates the losses will climb to Rs 2.3 billion in the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. Therefore, the board decided to stop the operation of the Chinese aircraft, the source said on condition of anonymity.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A board member of NAC informed that the national flag carrier of Nepal cannot operate the aircraft and therefore decided to ground them. The board member said that they have written a letter to the Ministry of Culture, Tourism and Civil Aviation that it is not commercially viable to operate these aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The NAC board has been discussing this issue since the last 20 board meetings but has not been able to decide on proper management of these aircraft. Now, it is up to the government to decide the next step, the board member said.</span></span></p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11945', 'image' => '20200720042841_1595176009.aircraft nepal airlines.jpg', 'article_date' => '2020-07-20 16:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12198', 'article_category_id' => '1', 'title' => 'Independent Power Producers Demand Incentives for Merger', 'sub_title' => '', 'summary' => 'July 20: Energy producers of the private sector have demanded necessary policy that encourages the production, transmission and distribution of electricity in case the independent power producers want to opt for merger. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">July 20: Energy producers of the private sector have demanded necessary policy that encourages the production, transmission and distribution of electricity in case the independent power producers want to opt for merger. They have demanded exemption in royalty for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The Electricity Regulatory Commission has already unveiled the draft of the Directive on Merger, Acquisition, Purchase and Transfer of Authorised Person or Projects 2077.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The commission is preparing to finalize the draft. In the mean time, energy producers have demanded favourable policy to go for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The draft has a provision of merger between authorised projects that are involved in production, transmission and distribution of electricity. There is also a provision for one project to acquire, purchase or transfer the shares of other projects.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">Promoters of the private companies have taken the proposal of merger positively. The promoters of private energy sector have been demanding facilities similar to those provided by the central bank to encourage the merger of BFIs. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">Vice President of Independent Power Producers of Nepal (IPPAN) Kumar Pandey says it is important to provide incentives for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">“Merger of hydropower project itself is a positive step. However, it is important to provide facilities for the projects that opt for merger. This issue is missing in the draft,” said Pandey.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11944', 'image' => '20200720050237_1595198302.Clipboard18.jpg', 'article_date' => '2020-07-20 17:01:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12196', 'article_category_id' => '1', 'title' => 'Handicraft Entrepreneurs Choosing Alternative Occupation ', 'sub_title' => '', 'summary' => 'July 20: Handicraft entrepreneurs, whose business has been shut down for a long time due to coronavirus pandemic, have started turning into alternative occupation.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">July 20: Handicraft entrepreneurs, whose business has been shut down for a long time due to coronavirus pandemic, have started turning into alternative occupation. Entrepreneurs, craftsman and business persons involved in this sectors are in crisis after tourists stopped coming to Nepal even before the spread of coronavirus in Nepal. As the handicraft industry is directly linked with the tourism industry, it has been badly affected due to the closure of tourism sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the president of Nepal Handicraft Association, Hari Century, around 50 percent handicraft entrepreneurs and workers have chosen other profession as it will still take around two years for tourism industry to flourish again.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman""> “They are now involved in vegetable farming and animal husbandry,” he said. Some of them are thinking of returning to the business in the coming days if the situation improves. But it is expected that some will abandon the sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Achyut Aryal, who has been making and selling handicraft products since 40 years at Basantapur, is now into maize farming after people stopped purchasing handicrafts. He has started the farming by renting 15 ropani land in Godawari, Lalitpur. “Neither there is the possibility of tourists coming to Nepal nor is export possible due to coronavirus. Even though we open the shops, there aren’t any buyers,” he said, adding, “I am obliged to get into agriculture as the business has dried up.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">As per the statistics of the Federation of Handicraft Association of Nepal (FHAN), Nepali handicraft products worth Rs 6 billion was sold in the international market last year. The major market for Nepali handicrafts is the USA, China and European countries. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In an average, handicraft products worth Rs 11 billion to Rs 15 billion is exported from Nepal yearly, while it is estimated that around 1 million people (including businessmen, entrepreneurs and workers) are involved in this sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the president of FHAN, Surendra Bahi Shakya, the situation of Nepali handicraft is very critical for the next one year. He said that many people have had to change their profession until the situation becomes favourable. Moreover, he states that although the production of felt which was ordered before the lockdown is underway, they are facing problem in export. He further informed that the businessmen could not send some products from Nepal in the rescue flights due to exorbitant fare. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“As the fare was five times high than normal charge, we have not been able to send the ordered products,” he said. Entrepreneurs and businessmen are frustrated as they could not sell the goods. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Places like Basantapur, Thamel, and Patan where the handicrafts used to be made and sold are still deserted, due to which there is no business even if they open their shops. Handmade pashmina, felt, thanka and painting, wood carving, sculpture, and metalwork, etc fall under handicraft products. </span></span></span></p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11943', 'image' => '20200720025203_20160802043332_meta.jpg', 'article_date' => '2020-07-20 14:51:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12195', 'article_category_id' => '1', 'title' => 'Importers Spending Millions for Electronic Tracking System Despite Lack of Tracking Facility', 'sub_title' => '', 'summary' => 'July 20: In the last fiscal year (2019/20), Nepali importers spent millions of rupees on electronic container tracking system (ECTS) to track their container cargo imported into Nepal using Indian ports and railways.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">July 20: In the last fiscal year (2019/20), Nepali importers spent millions of rupees on electronic container tracking system (ECTS) to track their container cargo imported into Nepal using Indian ports and railways.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">However, the importers complain that the service provider despite charging the fees did not provide the container tracking facility to them.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">The GPS-based system is currently being used to track the transshipment of goods imported from the third countries to the Indian ports of Kolkata and Visakhapatnam. Such tracking system came in operation in Kolkata on February 15, 2019 and before that in Visakhapatnam port on August 28, 2018.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">In 2019/20, a total of 108,000 thousand containers were imported to Nepal from third countries. Of the total containers, 59,214 entered Nepal through Birgunj Dry Port by rail. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Transcure Telematics Pvt Ltd, has been providing the ECTS service. The company charges Rs 3,400 per container to the importers. However, Nepali importers complain that another company working as a middle agent has been charging them to Rs 10,000 for the same service.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Nepali importers have so far spent at least Rs 320 million for availing the tracking service. However, Nepali entrepreneurs complain that Transcure, despite charging them millions, has not provided the tracking service.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Importer Suresh Rungta complained that the service provider charges them hefty amount but is not providing the tracking service. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The charge for this reusable electronic system is exorbitant. On top of that, tracking facility has not been provided to the importers,” claimed industrialist Rungta.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11942', 'image' => '20200720023416_95196488.Clipboard05.jpg', 'article_date' => '2020-07-20 14:27:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12193', 'article_category_id' => '1', 'title' => 'Hotel Entrepreneurs Agree to Pay Minimum Salary to Workers', 'sub_title' => '', 'summary' => 'July 20: The hotel entrepreneurs have agreed to pay minimum monthly salary to their staffers despite the industry remaining closed since the last four months due to the lockdown imposed by the government to contain the spread of coronavirus. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: The hotel entrepreneurs have agreed to pay minimum monthly salary to their staffers despite the industry remaining closed since the last four months due to the lockdown imposed by the government to contain the spread of coronavirus. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The entrepreneurs have agreed to pay between Rs 4,300 to Rs 10,000 to the staffers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Hotel Association of Nepal informed during a press conference on Sunday (July 19) that they have agreed pay the amount to the workers after reaching an understanding with the workers’ union.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to HAN, this agreement will remain valid from April 13, 2020 to 31 December 2020. With this understanding, the payment issue of hotel staffers has finally been resolved.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">As per the understanding, hotel employees will receive the minimum amount even if they are unable to join office or the employer is unable to provide job due to any circumstances during this period. The staffers will receive anything between Rs 4,300 to Rs 10,000 depending on the standard of the hotel where they work, informed president of HAN Srijana Rana.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The hotel industry has been completely closed due to coronavirus and the subsequent lockdown imposed since March 24. Rana said that the agreement has set a good precedent among the employers and the employees during the crisis period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the understanding, deluxe and five-star hotels and resorts with more than 200 rooms will pay Rs 10,000 per month to their workers. Likewise, deluxe and five-star hotels with less than 200 rooms will pay Rs 9000 to their staffers. Similarly, four-star hotels with more than 100 rooms will pay Rs 8455 to their workers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Four-star hotels with less than 100 rooms will pay Rs 8000 to the employees while 3-star hotels have agreed to pay Rs 5000 per month to the workers. Likewise, two-star hotels have agreed to pay Rs 4300 to the workers while the minimum pay for employees of one-star hotels and other restaurants will be decided by the concerned parties, informed Binayak Shah, senior vice president of HAN.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Meanwhile, General Secretary of HAN Sajan Shakya said that the hotel entrepreneurs and workers’ union have also agreed to deploy staffers on need basis and in different shifts as per the requirement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The agreement further states that the employees who wish to take voluntary retirement from service can avail all the benefits guaranteed before the lockdown period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11940', 'image' => '20200720010231_han.jpg', 'article_date' => '2020-07-20 12:44:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12191', 'article_category_id' => '1', 'title' => 'Delay in Completion of National Pride Projects adds Cost Burden of Rs 282 Billion', 'sub_title' => '', 'summary' => 'July 20: Altogether 21 national pride projects, prioritized by the government to attain economic, are currently under construction. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: Altogether 21 national pride projects, prioritized by the government to attain economic, are currently under construction. However, the delay in timely completion of 12 such projects has added financial burden of Rs 282.43 billion to the state coffers. Had these projects been completed on time or delayed by only a year, the government would not have had to incur such huge amount needlessly. The extra amount spent in the projects could have been utilized to complete the Budhi Gandaki Hydropower Project.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The initial cost estimate of Budhi Gandaki project, which is yet to start physical infrastructure work, is said to be around Rs 260 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The 57<sup>th</sup> annual report of the Financial Comptroller General’s Office states that the cost of the national pride projects has been increasing due to the delay in completion of the work.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The additional expenses of these projects are more than the capital expenditure of the government announced for the fiscal year 2072/73. The government had allocated a total of Rs 208.87 billion as capital expenditure for FY 2072/73.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The government is finding it quite challenging to manage source of investment to meet the additional cost burden of the national pride projects due to the inordinate delay in completion of the works. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Pushpalal Mid-Hill Highway is one of the national pride projects which has taken a long time for completion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The project which started in 2064/65 BS (2007/2008 AD) was supposed to be complete in a decade by 2074/75 BS (2017/18 AD). However, the deadline for the project has been extended by five years, which has increased the total cost estimate to Rs 84.33 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The initial cost estimate of the project was just Rs 33.36 billion. Had the government completed the project on time, it could have saved Rs 50.97 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the annual report of the Financial Comptroller General’s Office, the fate of other projects is also similar. The Babai Irrigation Project, which was initiated in FY 2044/45 BS more than two decades ago was set to be completed by 2069/70. However, the deadline of the project has been extended by 10 more years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The cost of the project which was estimated to be Rs 2.87 billion initially has now increased to Rs 18.96 billion. According to the report, most of the irrigation projects have been facing delay in completion.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11938', 'image' => '20200720114511_1595199291.jpg', 'article_date' => '2020-07-20 11:43:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12190', 'article_category_id' => '1', 'title' => 'Capacity Utilisation of Carpet Industry Reaches 20% ', 'sub_title' => '', 'summary' => 'The capacity utilisation of Nepali carpet industries has increased to 20 percent after the easing of the lockdown. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: The capacity utilisation of Nepali carpet industries has increased to 20 percent after the easing of the lockdown. However, export of carpet has not resumed due to the continuing ban on international flight. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Entrepreneurs say that while previously produced carpets could not be exported, new products will unlikely to come into the market. According to them, they have to run the industries to sustain workers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">As the exports have been halted due to covid-19 pandemic, carpets worth Rs 4 billion are stuck in warehouses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The wool carpets produced in Nepal are exported in more than 50 countries including America, China, Germany, UK, Italy, France, Canada, Belgium and Australia. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to Tenzing Sherpa, vice president of Nepal Carpet Manufacturers and Exporters Association, it is not possible to export Nepali carpets currently. The demand in the US, Europe and the UK, where Nepali carpets are exported in large quantities, has decreased due to the pandemic. “The demand of Nepali carpet has dropped by 80 percent as the international market is also almost closed. On the other hand, even if we want to export, there is no favorable environment now,” Sherpa said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Nepali carpet exporters mainly export carpets to foreign countries through the Kolkata Port in India. However, compared to countries including India and Pakistan, it takes more time for Nepali exporters to supply their products to foreign markets. "It takes 2-3 months for our carpets to reach major foreign markets," mentioned Sherpa</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the Nepal Carpet Manufacturers and Exporters Association, only a small number of carpets exported to China are being produced. According to Amrit Tamang, CEO of the association, the compulsion to manufacture carpets to support the workers and the increase in stock of have hit the carpet manufacturers hard. “We have not been able to export, on top of our stocks are increasing,” he said. At present, more than 300,000 people in Nepal are dependent on the carpet industry. Similarly, there are about 700 entrepreneurs and more than 150 exporters in the carpet exporters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the Customs Department, carpets worth Rs. 7.36 billion were exported from Nepal in the fiscal year 2075/76. Carpet exports have declined by about 19% in the first 11 months of FY 2076/77. During this period, carpets worth Rs 5.5 billion have been exported from Nepal. Now, the main market for Nepali carpets is the United States, followed by Germany, the UK, and China. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the carpet entrepreneurs, there is no shortage of raw material as of now, as there was stock of raw materials even before the lockdown. The raw materials for the carpet in Nepal are mainly imported from Tibet and New Zealand. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '11937', 'image' => '20200719042410_Nepali Carpet.jpg', 'article_date' => '2020-07-19 16:22:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '31' ) ), (int) 13 => array( 'Article' => array( 'id' => '12189', 'article_category_id' => '1', 'title' => 'Govt and World Bank Sign USD 450 mn Road Support Project Financing Agreement', 'sub_title' => '', 'summary' => 'The government and the World Bank on Friday signed a USD 450 million (around Rs 54 billion) financing agreement to improve the efficiency and safety of transport infrastructure, cross-border trade, and strengthen capacity for strategic road network management. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: The government and the World Bank on Friday signed a USD 450 million </span></span><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">(around Rs 54 billion) </span></span><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">financing agreement to improve the efficiency and safety of transport infrastructure, cross-border trade, and strengthen capacity for strategic road network management. Issuing a press statement, the Washington D.C.-based lender said that this is the single largest value project that the Nepal government has signed with the World Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The agreement was signed by Finance Secretary Sishir Kumar Dhungana and Faris Hadad-Zervos, World Bank Country Director for Maldives, on the presence of Minister for Finance Dr Yuba Raj Khatiwada. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“We thank the World Bank Group for supporting this important project which will enhance connectivity and country integration along with cross border markets to support post-COVID-19 recovery,” the statement quoted Dr Khatiwada as saying. "Connectivity is high on the rapid and sustainable development agenda of Nepal. Sustainable transport and sustainable, inclusive and high-quality infrastructure are of cross cutting importance for accelerating economic growth, national and regional economic integration and attaining the sustainable development goals." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Speaking on the occasion, finance secretary Dhungana said that the Project, with its focus on reducing time and cost of moving goods via key transport corridors and border crossing points, will be key to sustain and accelerate our economic growth, especially aiding recovery in the immediate aftermath of COVID-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“The government is working on a 3R –Relief, Recovery and Resilience –strategy to help Nepal build back better from the impacts of the COVID-19 crisis. This project will be critical for boosting economic possibilities and enhancing trade facilitation to speed up recovery and resilience,” reads the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the World Bank, the Strategic Road Connectivity and Trade Improvement Project supports Nepal’s connectivity and trade with neighboring countries including India. “It will improve the Nagdhunga-Naubise-Mugling road and upgrade the Kamala-Dhalkebar-Pathlaiya road to four-lane. The Project will also enhance infrastructure, facilities and sanitation at border crossing points to ease trade constraints and spur agricultural exports,” informed the statement. The bank said that amid the Covid-19 pandemic, the project will also support better screening of goods and people at border facilities, and develop guidance for special working arrangements, such as safe distancing and remote working.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“This Project supports the government’s efforts to put Nepal on the path to economic recovery amid the impacts of the COVID-19 crisis. It will help facilitate regional trade and connectivity and create jobs while ensuring safety and efficiency of the strategic roads network,” the statement quoted Hadad-Zervos as saying. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the World Bank, the project will also support institutional strengthening of the National Road Safety Council and the Department of Roads, and periodic maintenance of high-traffic roads within the Strategic Road Network. A contingency emergency response component is also included in the project to reallocate project funds to support emergency response and recovery.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11936', 'image' => '20200719042203_world bank nepal.jpg', 'article_date' => '2020-07-19 16:21:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '31' ) ), (int) 14 => array( 'Article' => array( 'id' => '12188', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs Skeptical about Implementation of Monetary Policy ', 'sub_title' => '', 'summary' => 'Tourism entrepreneur who are in anxiety due to the mounting losses think that the Monetary Policy for FY 2020/21 will bring some relief to the sector.', 'content' => '<pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: Tourism entrepreneur who are in anxiety due to the mounting losses think that the Monetary Policy for FY 2020/21 will bring some relief to the sector.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The policy has some special arrangements in working capital loans, concessional loans and refinancing scheme for the revival of aviation business, transport, hotel, restaurant and tourism sector enterprises to overcome the losses caused by the Covid-19 crisis.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The new monetary policy has extended the repayment deadline of loan installment by two years for the under-construction tourist hotel projects that have been halted due to Covid-19 pandemic.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Hoteliers say that the provision to direct development bank and financial institutions to mandatorily provide 20 percent and 15 percent loans, respectively, of their total paid-up capital to the tourism sector will provide relief for small and medium-sized hotels.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai said that that the monetary policy will be crucial and positive for of reestablishment of the tourism sector businesses affected by the Covid-19 pandemic.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“The monetary policy has included most of the suggestions of the ministry and tourism entrepreneurs,” he said.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Stakeholders have welcomed the policy. However, they are skeptical over the implementation of the measures.</span></span> <span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“Even though the monetary policy has tried to address the demand of the overall tourism industry, its implementation is doubtful,” said Yograj Sharma Kandel, spokesperson of the Airlines Operators Association of Nepal.</span></span></span></span></pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif"> "There were some good measures in the 2015 monetary policy, which was announced after the earthquake, to help businesses in trouble. However, the measures were not implemented at all. This is likely to happen now,” he added.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Similarly, Sajan Shakya, general secretary of the Hotel Association of Nepal (HAN) said that the measures in the policy are crucial to revive the tourism industry affected by the pandemic. “However, the implementation is important than the policy itself,” mentioned Shakya.</span></span></span></span></pre> <p> </p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '11935', 'image' => '20200719042015_Tourism Nepal.jpg', 'article_date' => '2020-07-19 16:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ) ) $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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The central bank has paved way for Nepal Telecom to operate such service after an agreement in principle between the two organisations.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Nepal Telecom had filed an application with NRB a year ago to operate payment service in collaboration with Rastriya Banijya Bank (RBB). Nepal Telecom spokesperson Rajesh Joshi said that they have received the LOI from NRB and the necessary process for the operation of the service has been initiated. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">To provide the utility payment service, Nepal Telecom and RBB must establish a separate company with their joint investment. Nepal Telecom needs to file another application within six months for final approval after managing necessary infrastructure for the new venture.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">NRB will then conduct necessary study such as the company’s staff, software and other issues and give final approval for the operation within a month. NRB says Nepal Telecom can operate the new service only after fulfilling all the criteria.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The paid-up capital of the joint-venture company, where the majority shares will be of Nepal Telecom, has to be Rs 1 billion. Spokesperson Joshi said that the company will be registered within a week. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“We have already started the process to establish the joint venture company. Probably, the company will be registered within a week,” he said, “Then we will make necessary arrangement for infrastructure such as installing software, setting up office and visit central bank for final approval.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">This new service is a kind of digital wallet. Customers will be able to make various payments through a mobile application by registering their mobile number and account number of RBB. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">There will also be a top-up service. According to Nepal Telecom, all types of transactions can be done through the app. RBB will have its role in amount settlement. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Telecommunication companies are working as a payment service provider in abroad. In some countries, telecom companies are ahead of banks in this regard. This is the first time in Nepal that a payment service has been launched under the leadership of a telecom company. For this, Nepal Telecom has already completed all necessary procedures. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Managing Director of the Nepal Telecom, Dilliram Adhikari, said this new service will provide accessibility of digital transaction to the people of rural areas as well. “Nepal Telecom has reached to the places where banking service is not yet available,” he said adding, “In this regard, it is expected that it will be easier to provide them banking services.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">He further said the mobile money service is being launched with the objective of increasing financial inclusion and access to digital transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“While we have a nationwide network, RBB has a long experience in the financial sector,” he said, adding, “We can operate the service effectively by using two pillars.” Adhikari also said that the service would be more reliable as both Nepal Telecom and RBB are government-owned companies. </span></span></span></p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11951', 'image' => '20200721022343_1595282477.Clipboard05.jpg', 'article_date' => '2020-07-21 14:22:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12204', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs to Resume Service from July 22 ', 'sub_title' => '', 'summary' => 'July 21: Transport entrepreneurs have reached an understanding with the government to resume public transportation service from Wednesday (July 22). ', '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"">July 21: Transport entrepreneurs have reached an understanding with the government to resume public transportation service from Wednesday (July 22). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Transport entrepreneurs made such announcement following a meeting with the Director General of the Department of Transport Management Gogan Bahadur Hamal on Monday. The two sides discussed about the work procedure on resuming public transportation service. During the meeting, DoTM agreed to bear 50 percent premium for the insurance coverage of those involved in transportation service. DoTM, on behalf of the government, agreed to pay 50 percent insurance premium against coronavirus for drivers and helpers of public vehicles. Government authorities also agreed to recommending setting up a fund for providing relief to drivers and helpers in case they die of coronavirus. Following the understanding, the transport entrepreneurs agreed to resume their service from Wednesday.</span></span></span></span></p> <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 government had decided to lift a ban on public transport last week, some transport entrepreneurs and workers’ union had decided not to resume service without getting assurance from the government. They were demanding security of frontline workers and relief during the lockdown period as a precondition for resuming 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 Unicode MS"">The transport entrepreneurs showed flexibility in resuming service after a meeting with Prime Minister KP Sharma Oli. Their concerns were also addressed by the monetary policy for the upcoming fiscal year. However, they were still reluctant to resume service outright due to the security of drivers and helpers. </span></span></span></span></p> <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, DoTM has assured the transport entrepreneurs that it will take initiative to resume long-route vehicles as well. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11950', 'image' => '20200721030826_1595264681.yatayat.jpg', 'article_date' => '2020-07-21 15:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12202', 'article_category_id' => '1', 'title' => 'Foreign Exporters Demand Release of Goods Held at Customs Points', 'sub_title' => '', 'summary' => 'July 21: Foreign exporters have appealed to the Nepalese diplomatic missions abroad to facilitate the release of large quantity of dry fruits, peas, pepper, betel nuts and dates that are currently stopped in ports in Nepal and India.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">July 21: Foreign exporters have appealed to the Nepalese diplomatic missions abroad to facilitate the release of large quantity of dry fruits, peas, pepper, betel nuts and dates that are currently stopped in ports in Nepal 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">The exporters have written letter to the Nepali Embassy in Canada requesting to facilitate the release of the goods after not receiving payment from Nepali importers.</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">Companies including Marina Commodities of Canada, Agrocrop International, Swiss Singapore Canada, PKT Associates have requested Bhrigu Dhungana, Nepal’s Ambassador to Canada, for supporting them to clear the goods from the ports and for the clearance of dues. Nepali importers have been importing chick peas from these companies.</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 payment for these goods have been stopped after the customs offices halted the inspection of the goods. The Department of Customs informed that it had stopped the inspection because the importers had imported the goods 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">However, the importers complain that the payment of more than a dozen exporters have been withheld due to the delay in inspection by the government authorities.</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 had banned the import of chick peas, betel nuts, dates and pepper on April 30.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Calibri">The Birgunj Dry Port has suspended the inspection of 500 containers for almost three months citing lack of prior approval from the Food Department. Importers suggest that additional 500 containers are stranded at the container freight station in Indian ports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11949', 'image' => '20200721014644_1595282830.Clipboard08.jpg', 'article_date' => '2020-07-21 13:46:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12199', 'article_category_id' => '1', 'title' => 'Government Gives the Nod to Resume Air Service from August 17', 'sub_title' => '', 'summary' => 'July 21: The government has decided to resume air service almost after a month from August 17.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">July 21: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has decided to resume air service almost after a month from August 17. A cabinet meeting on Monday (July 20) decided to resume both domestic and international 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 Unicode MS"">The Council of Ministers has endorsed the proposal to instruct the Ministry of Culture, Tourism and Civil Aviation to start necessary homework to this effect.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai confirmed that cabinet has assigned the ministry to take required measures to resume air service, which has been halted since the government imposed lockdown on March 24.</span></span></span></span></p> <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 ministry had earlier sent a proposal to the Covid-19 Crisis Management Centre to resume domestic flights from August 5 and international flights from August 17. However, the cabinet decided to resume both domestic and international flights from August 17.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The cabinet meeting also decided to ease the lockdown measures. The government has been extending the lockdown time and again to contain the spread of coronavirus. The current lockdown expires this Wednesday (July 22).</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, the government had decided to resume transportation service within the districts. The latest decision of cabinet also allows phase-wise opening of inter-district transportation from now onward.</span></span></span></span></p> <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, CCMC had presented a proposal to the cabinet on Sunday requesting a review of ban on transportation, tourism business, operation of hotels, schools and a clamp down on sports activities based on new assessment of Covid-19 situation. As per the recommendation, the government has agreed to ease the lockdown measures. However, the government is yet to announce the new model of lockdown. Informed sources said that the government spokesperson will shed light on the latest decision during a regular press meet. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11948', 'image' => '20200721115456_1595259768.widebody_.jpg', 'article_date' => '2020-07-21 11:53:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12201', 'article_category_id' => '1', 'title' => 'Government Launches Youth Employment Project in Collaboration with World Bank ', 'sub_title' => '', 'summary' => 'July 21: The government on Monday (July 20) launched the ‘Youth Employment Transformation Initiative’ project in collaboration with the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">July 21: The government on Monday (July 20) launched the ‘Youth Employment Transformation Initiative’ project in collaboration with the World Bank.</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:Arial">The World Bank said in a joint statement that Minister for Labor, Employment and Social Security Rameshwor Raya Yadav and World Bank Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos jointly launched the project amid a function on July 20. </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:Arial">Financed by the World Bank to promote domestic employment, the project will enable poor and vulnerable youth gain access to employment, skills development and capacity building opportunities, the statement 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:Arial">Aligned with the Prime Minister Employment Program, the $120 million project will be implemented over the next four years with a focus on improving employment services and labor market outcomes, especially for youth.</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:Arial">“With the onset of COVID-19 and the subsequent contraction of the global job market, Nepal’s labor market is also affected with a huge number of job losses. In this context, result-driven implementation of the project at all three levels of the government is of critical importance,” the statement quoted Labour Minister Yadav as saying. </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:Arial">“This project plays a crucial role to expand the employment opportunities in the domestic labor market and to set up an automated system of Labor Information Bank and upgrade the Employment Management Information System<em> </em>by consolidating basic labor market information such as profile of the unemployed persons including knowledge, skills, experience and the potential sector for employment along with the demand and supply aspects of the labor market,” added Minister Yadav thanking the development partner for the continual support in the internal labor market strategy of Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">World Bank’s Country Director for Nepal Hadad-Zervos said that </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">the project funding is being frontloaded this year to support over 75,000 of the most vulnerable unemployed youth at the local level as part of the World Bank’s COVID-19 response. He added that this project would help the unemployed youth to earn 100 days of wages each through the creation of temporary employment opportunities in the maintenance and upgrading of public infrastructure.</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:Arial">“Working with the government, development partners and the private sector, the World Bank will seek to contribute to a long thread of engagements that align to make a difference in the lives of the most vulnerable people,” Hadad-Zervos 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:Arial">The project agreement was signed in November 2019 by the Government of Nepal and the World Bank. Of the $120 million credit, about 90 percent is allocated to the local levels to create jobs in the maintenance and upgrading of public infrastructure and public services for 100,000 unemployed youth, 60% of whom will be women as per the project’s priority to inclusion. </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:Arial">According to the World Bank, the project will support 753 Employment Service Centers at the local levels to strengthen the workforce and to provide services in registration, profiling, referral, temporary work placement and on-the-job training. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11947', 'image' => '20200721124426_World Bank_Yeti.jpg', 'article_date' => '2020-07-21 12:43:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12200', 'article_category_id' => '1', 'title' => 'FDI Pledges worth Rs 39 Billion in Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 21: Foreign investors pledged investment of around Rs 39 billion to as many as 226 industries in Nepal in the last fiscal year, according to the Department of Industries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">July 21: Foreign investors pledged investment of around Rs 39 billion to as many as 226 industries in Nepal in the last fiscal year, according to the Department of Industries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Majority of the Foreign Direct Investment (FDI) was committed by Chinese firms. Firms from China pledged to invest Rs 25.57 billion for 174 industries followed by India standing at Rs 3.57 billion for 16 industries, informed Spokesperson Binod Kumar Khadka.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Khadka further shared that more than 17 countries abroad had pledged to invest in 226 industries. Among the commitments received for investment, service sector has received the highest investment, informed Khadka. More than Rs 11 billion has been pledged for 73 industries in service sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">Similarly, 81 industries in the tourism sector have received commitment of over Rs 10 billion. Likewise, over Rs 70 billion was pledged for information and technology sector involving 37 industries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman""><span style="font-size:15.0pt"><span style="font-family:Cambria">A total of 277 new enterprises were registered in the last fiscal year. The total capital of those newly registered enterprises was over Rs 152 billion. <em>(RSS)</em></span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-21', 'modified' => '2020-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '11946', 'image' => '20200721122137_20170512120504_co.jpg', 'article_date' => '2020-07-21 12:21:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12197', 'article_category_id' => '1', 'title' => 'NAC Decides to Ground Chinese Aircraft', 'sub_title' => '', 'summary' => 'July 20: Nepal Airlines Corporation has decided to stop using Chinese aircraft from July 30 after incurring losses regularly. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: Nepal Airlines Corporation has decided to stop using Chinese aircraft from July 30 after incurring losses regularly. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The flag carrier of Nepal currently has four Y-12 and two MA-60 Chinese-made aircraft. MA-60 has a capacity to carry 56 passengers while the Y-12 is an 18-seater aircraft used for domestic flights.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Stating that the state-owned aircraft company of Nepal has been incurring losses regularly while operating these aircraft, NAC decided to stop using them altogether. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A board meeting of NAC recently decided to halt the operation of the Chinese aircraft, said a source informed about the matter. According to the source, the board assessed that NAC has incurred losses worth Rs 1.9 billion from Fiscal Year 2071/72 to FY 2075/76 while operating the Chinese aircraft. Fearing that the airline company would face further losses if it continues using the Chinese aircraft, the board decided to stop their operation. NAC estimates the losses will climb to Rs 2.3 billion in the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. Therefore, the board decided to stop the operation of the Chinese aircraft, the source said on condition of anonymity.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A board member of NAC informed that the national flag carrier of Nepal cannot operate the aircraft and therefore decided to ground them. The board member said that they have written a letter to the Ministry of Culture, Tourism and Civil Aviation that it is not commercially viable to operate these aircraft.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The NAC board has been discussing this issue since the last 20 board meetings but has not been able to decide on proper management of these aircraft. Now, it is up to the government to decide the next step, the board member said.</span></span></p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11945', 'image' => '20200720042841_1595176009.aircraft nepal airlines.jpg', 'article_date' => '2020-07-20 16:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12198', 'article_category_id' => '1', 'title' => 'Independent Power Producers Demand Incentives for Merger', 'sub_title' => '', 'summary' => 'July 20: Energy producers of the private sector have demanded necessary policy that encourages the production, transmission and distribution of electricity in case the independent power producers want to opt for merger. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">July 20: Energy producers of the private sector have demanded necessary policy that encourages the production, transmission and distribution of electricity in case the independent power producers want to opt for merger. They have demanded exemption in royalty for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The Electricity Regulatory Commission has already unveiled the draft of the Directive on Merger, Acquisition, Purchase and Transfer of Authorised Person or Projects 2077.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The commission is preparing to finalize the draft. In the mean time, energy producers have demanded favourable policy to go for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">The draft has a provision of merger between authorised projects that are involved in production, transmission and distribution of electricity. There is also a provision for one project to acquire, purchase or transfer the shares of other projects.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">Promoters of the private companies have taken the proposal of merger positively. The promoters of private energy sector have been demanding facilities similar to those provided by the central bank to encourage the merger of BFIs. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">Vice President of Independent Power Producers of Nepal (IPPAN) Kumar Pandey says it is important to provide incentives for merger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Bangla MN"">“Merger of hydropower project itself is a positive step. However, it is important to provide facilities for the projects that opt for merger. This issue is missing in the draft,” said Pandey.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11944', 'image' => '20200720050237_1595198302.Clipboard18.jpg', 'article_date' => '2020-07-20 17:01:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12196', 'article_category_id' => '1', 'title' => 'Handicraft Entrepreneurs Choosing Alternative Occupation ', 'sub_title' => '', 'summary' => 'July 20: Handicraft entrepreneurs, whose business has been shut down for a long time due to coronavirus pandemic, have started turning into alternative occupation.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">July 20: Handicraft entrepreneurs, whose business has been shut down for a long time due to coronavirus pandemic, have started turning into alternative occupation. Entrepreneurs, craftsman and business persons involved in this sectors are in crisis after tourists stopped coming to Nepal even before the spread of coronavirus in Nepal. As the handicraft industry is directly linked with the tourism industry, it has been badly affected due to the closure of tourism sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the president of Nepal Handicraft Association, Hari Century, around 50 percent handicraft entrepreneurs and workers have chosen other profession as it will still take around two years for tourism industry to flourish again.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman""> “They are now involved in vegetable farming and animal husbandry,” he said. Some of them are thinking of returning to the business in the coming days if the situation improves. But it is expected that some will abandon the sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Achyut Aryal, who has been making and selling handicraft products since 40 years at Basantapur, is now into maize farming after people stopped purchasing handicrafts. He has started the farming by renting 15 ropani land in Godawari, Lalitpur. “Neither there is the possibility of tourists coming to Nepal nor is export possible due to coronavirus. Even though we open the shops, there aren’t any buyers,” he said, adding, “I am obliged to get into agriculture as the business has dried up.” </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">As per the statistics of the Federation of Handicraft Association of Nepal (FHAN), Nepali handicraft products worth Rs 6 billion was sold in the international market last year. The major market for Nepali handicrafts is the USA, China and European countries. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">In an average, handicraft products worth Rs 11 billion to Rs 15 billion is exported from Nepal yearly, while it is estimated that around 1 million people (including businessmen, entrepreneurs and workers) are involved in this sector. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the president of FHAN, Surendra Bahi Shakya, the situation of Nepali handicraft is very critical for the next one year. He said that many people have had to change their profession until the situation becomes favourable. Moreover, he states that although the production of felt which was ordered before the lockdown is underway, they are facing problem in export. He further informed that the businessmen could not send some products from Nepal in the rescue flights due to exorbitant fare. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">“As the fare was five times high than normal charge, we have not been able to send the ordered products,” he said. Entrepreneurs and businessmen are frustrated as they could not sell the goods. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Places like Basantapur, Thamel, and Patan where the handicrafts used to be made and sold are still deserted, due to which there is no business even if they open their shops. Handmade pashmina, felt, thanka and painting, wood carving, sculpture, and metalwork, etc fall under handicraft products. </span></span></span></p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11943', 'image' => '20200720025203_20160802043332_meta.jpg', 'article_date' => '2020-07-20 14:51:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12195', 'article_category_id' => '1', 'title' => 'Importers Spending Millions for Electronic Tracking System Despite Lack of Tracking Facility', 'sub_title' => '', 'summary' => 'July 20: In the last fiscal year (2019/20), Nepali importers spent millions of rupees on electronic container tracking system (ECTS) to track their container cargo imported into Nepal using Indian ports and railways.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">July 20: In the last fiscal year (2019/20), Nepali importers spent millions of rupees on electronic container tracking system (ECTS) to track their container cargo imported into Nepal using Indian ports and railways.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">However, the importers complain that the service provider despite charging the fees did not provide the container tracking facility to them.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">The GPS-based system is currently being used to track the transshipment of goods imported from the third countries to the Indian ports of Kolkata and Visakhapatnam. Such tracking system came in operation in Kolkata on February 15, 2019 and before that in Visakhapatnam port on August 28, 2018.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">In 2019/20, a total of 108,000 thousand containers were imported to Nepal from third countries. Of the total containers, 59,214 entered Nepal through Birgunj Dry Port by rail. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Transcure Telematics Pvt Ltd, has been providing the ECTS service. The company charges Rs 3,400 per container to the importers. However, Nepali importers complain that another company working as a middle agent has been charging them to Rs 10,000 for the same service.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Nepali importers have so far spent at least Rs 320 million for availing the tracking service. However, Nepali entrepreneurs complain that Transcure, despite charging them millions, has not provided the tracking service.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"> <span style="font-family:"Times New Roman"">Importer Suresh Rungta complained that the service provider charges them hefty amount but is not providing the tracking service. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“The charge for this reusable electronic system is exorbitant. On top of that, tracking facility has not been provided to the importers,” claimed industrialist Rungta.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11942', 'image' => '20200720023416_95196488.Clipboard05.jpg', 'article_date' => '2020-07-20 14:27:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12193', 'article_category_id' => '1', 'title' => 'Hotel Entrepreneurs Agree to Pay Minimum Salary to Workers', 'sub_title' => '', 'summary' => 'July 20: The hotel entrepreneurs have agreed to pay minimum monthly salary to their staffers despite the industry remaining closed since the last four months due to the lockdown imposed by the government to contain the spread of coronavirus. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: The hotel entrepreneurs have agreed to pay minimum monthly salary to their staffers despite the industry remaining closed since the last four months due to the lockdown imposed by the government to contain the spread of coronavirus. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The entrepreneurs have agreed to pay between Rs 4,300 to Rs 10,000 to the staffers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Hotel Association of Nepal informed during a press conference on Sunday (July 19) that they have agreed pay the amount to the workers after reaching an understanding with the workers’ union.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to HAN, this agreement will remain valid from April 13, 2020 to 31 December 2020. With this understanding, the payment issue of hotel staffers has finally been resolved.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">As per the understanding, hotel employees will receive the minimum amount even if they are unable to join office or the employer is unable to provide job due to any circumstances during this period. The staffers will receive anything between Rs 4,300 to Rs 10,000 depending on the standard of the hotel where they work, informed president of HAN Srijana Rana.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The hotel industry has been completely closed due to coronavirus and the subsequent lockdown imposed since March 24. Rana said that the agreement has set a good precedent among the employers and the employees during the crisis period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the understanding, deluxe and five-star hotels and resorts with more than 200 rooms will pay Rs 10,000 per month to their workers. Likewise, deluxe and five-star hotels with less than 200 rooms will pay Rs 9000 to their staffers. Similarly, four-star hotels with more than 100 rooms will pay Rs 8455 to their workers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Four-star hotels with less than 100 rooms will pay Rs 8000 to the employees while 3-star hotels have agreed to pay Rs 5000 per month to the workers. Likewise, two-star hotels have agreed to pay Rs 4300 to the workers while the minimum pay for employees of one-star hotels and other restaurants will be decided by the concerned parties, informed Binayak Shah, senior vice president of HAN.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Meanwhile, General Secretary of HAN Sajan Shakya said that the hotel entrepreneurs and workers’ union have also agreed to deploy staffers on need basis and in different shifts as per the requirement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The agreement further states that the employees who wish to take voluntary retirement from service can avail all the benefits guaranteed before the lockdown period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11940', 'image' => '20200720010231_han.jpg', 'article_date' => '2020-07-20 12:44:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12191', 'article_category_id' => '1', 'title' => 'Delay in Completion of National Pride Projects adds Cost Burden of Rs 282 Billion', 'sub_title' => '', 'summary' => 'July 20: Altogether 21 national pride projects, prioritized by the government to attain economic, are currently under construction. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">July 20: Altogether 21 national pride projects, prioritized by the government to attain economic, are currently under construction. However, the delay in timely completion of 12 such projects has added financial burden of Rs 282.43 billion to the state coffers. Had these projects been completed on time or delayed by only a year, the government would not have had to incur such huge amount needlessly. The extra amount spent in the projects could have been utilized to complete the Budhi Gandaki Hydropower Project.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The initial cost estimate of Budhi Gandaki project, which is yet to start physical infrastructure work, is said to be around Rs 260 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The 57<sup>th</sup> annual report of the Financial Comptroller General’s Office states that the cost of the national pride projects has been increasing due to the delay in completion of the work.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The additional expenses of these projects are more than the capital expenditure of the government announced for the fiscal year 2072/73. The government had allocated a total of Rs 208.87 billion as capital expenditure for FY 2072/73.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The government is finding it quite challenging to manage source of investment to meet the additional cost burden of the national pride projects due to the inordinate delay in completion of the works. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Pushpalal Mid-Hill Highway is one of the national pride projects which has taken a long time for completion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The project which started in 2064/65 BS (2007/2008 AD) was supposed to be complete in a decade by 2074/75 BS (2017/18 AD). However, the deadline for the project has been extended by five years, which has increased the total cost estimate to Rs 84.33 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The initial cost estimate of the project was just Rs 33.36 billion. Had the government completed the project on time, it could have saved Rs 50.97 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">According to the annual report of the Financial Comptroller General’s Office, the fate of other projects is also similar. The Babai Irrigation Project, which was initiated in FY 2044/45 BS more than two decades ago was set to be completed by 2069/70. However, the deadline of the project has been extended by 10 more years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">The cost of the project which was estimated to be Rs 2.87 billion initially has now increased to Rs 18.96 billion. According to the report, most of the irrigation projects have been facing delay in completion.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-07-20', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11938', 'image' => '20200720114511_1595199291.jpg', 'article_date' => '2020-07-20 11:43:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12190', 'article_category_id' => '1', 'title' => 'Capacity Utilisation of Carpet Industry Reaches 20% ', 'sub_title' => '', 'summary' => 'The capacity utilisation of Nepali carpet industries has increased to 20 percent after the easing of the lockdown. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: The capacity utilisation of Nepali carpet industries has increased to 20 percent after the easing of the lockdown. However, export of carpet has not resumed due to the continuing ban on international flight. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Entrepreneurs say that while previously produced carpets could not be exported, new products will unlikely to come into the market. According to them, they have to run the industries to sustain workers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">As the exports have been halted due to covid-19 pandemic, carpets worth Rs 4 billion are stuck in warehouses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The wool carpets produced in Nepal are exported in more than 50 countries including America, China, Germany, UK, Italy, France, Canada, Belgium and Australia. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to Tenzing Sherpa, vice president of Nepal Carpet Manufacturers and Exporters Association, it is not possible to export Nepali carpets currently. The demand in the US, Europe and the UK, where Nepali carpets are exported in large quantities, has decreased due to the pandemic. “The demand of Nepali carpet has dropped by 80 percent as the international market is also almost closed. On the other hand, even if we want to export, there is no favorable environment now,” Sherpa said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Nepali carpet exporters mainly export carpets to foreign countries through the Kolkata Port in India. However, compared to countries including India and Pakistan, it takes more time for Nepali exporters to supply their products to foreign markets. "It takes 2-3 months for our carpets to reach major foreign markets," mentioned Sherpa</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the Nepal Carpet Manufacturers and Exporters Association, only a small number of carpets exported to China are being produced. According to Amrit Tamang, CEO of the association, the compulsion to manufacture carpets to support the workers and the increase in stock of have hit the carpet manufacturers hard. “We have not been able to export, on top of our stocks are increasing,” he said. At present, more than 300,000 people in Nepal are dependent on the carpet industry. Similarly, there are about 700 entrepreneurs and more than 150 exporters in the carpet exporters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the Customs Department, carpets worth Rs. 7.36 billion were exported from Nepal in the fiscal year 2075/76. Carpet exports have declined by about 19% in the first 11 months of FY 2076/77. During this period, carpets worth Rs 5.5 billion have been exported from Nepal. Now, the main market for Nepali carpets is the United States, followed by Germany, the UK, and China. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the carpet entrepreneurs, there is no shortage of raw material as of now, as there was stock of raw materials even before the lockdown. The raw materials for the carpet in Nepal are mainly imported from Tibet and New Zealand. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '11937', 'image' => '20200719042410_Nepali Carpet.jpg', 'article_date' => '2020-07-19 16:22:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '31' ) ), (int) 13 => array( 'Article' => array( 'id' => '12189', 'article_category_id' => '1', 'title' => 'Govt and World Bank Sign USD 450 mn Road Support Project Financing Agreement', 'sub_title' => '', 'summary' => 'The government and the World Bank on Friday signed a USD 450 million (around Rs 54 billion) financing agreement to improve the efficiency and safety of transport infrastructure, cross-border trade, and strengthen capacity for strategic road network management. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: The government and the World Bank on Friday signed a USD 450 million </span></span><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">(around Rs 54 billion) </span></span><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">financing agreement to improve the efficiency and safety of transport infrastructure, cross-border trade, and strengthen capacity for strategic road network management. Issuing a press statement, the Washington D.C.-based lender said that this is the single largest value project that the Nepal government has signed with the World Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The agreement was signed by Finance Secretary Sishir Kumar Dhungana and Faris Hadad-Zervos, World Bank Country Director for Maldives, on the presence of Minister for Finance Dr Yuba Raj Khatiwada. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“We thank the World Bank Group for supporting this important project which will enhance connectivity and country integration along with cross border markets to support post-COVID-19 recovery,” the statement quoted Dr Khatiwada as saying. "Connectivity is high on the rapid and sustainable development agenda of Nepal. Sustainable transport and sustainable, inclusive and high-quality infrastructure are of cross cutting importance for accelerating economic growth, national and regional economic integration and attaining the sustainable development goals." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Speaking on the occasion, finance secretary Dhungana said that the Project, with its focus on reducing time and cost of moving goods via key transport corridors and border crossing points, will be key to sustain and accelerate our economic growth, especially aiding recovery in the immediate aftermath of COVID-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“The government is working on a 3R –Relief, Recovery and Resilience –strategy to help Nepal build back better from the impacts of the COVID-19 crisis. This project will be critical for boosting economic possibilities and enhancing trade facilitation to speed up recovery and resilience,” reads the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the World Bank, the Strategic Road Connectivity and Trade Improvement Project supports Nepal’s connectivity and trade with neighboring countries including India. “It will improve the Nagdhunga-Naubise-Mugling road and upgrade the Kamala-Dhalkebar-Pathlaiya road to four-lane. The Project will also enhance infrastructure, facilities and sanitation at border crossing points to ease trade constraints and spur agricultural exports,” informed the statement. The bank said that amid the Covid-19 pandemic, the project will also support better screening of goods and people at border facilities, and develop guidance for special working arrangements, such as safe distancing and remote working.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“This Project supports the government’s efforts to put Nepal on the path to economic recovery amid the impacts of the COVID-19 crisis. It will help facilitate regional trade and connectivity and create jobs while ensuring safety and efficiency of the strategic roads network,” the statement quoted Hadad-Zervos as saying. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">According to the World Bank, the project will also support institutional strengthening of the National Road Safety Council and the Department of Roads, and periodic maintenance of high-traffic roads within the Strategic Road Network. A contingency emergency response component is also included in the project to reallocate project funds to support emergency response and recovery.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '11936', 'image' => '20200719042203_world bank nepal.jpg', 'article_date' => '2020-07-19 16:21:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '31' ) ), (int) 14 => array( 'Article' => array( 'id' => '12188', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs Skeptical about Implementation of Monetary Policy ', 'sub_title' => '', 'summary' => 'Tourism entrepreneur who are in anxiety due to the mounting losses think that the Monetary Policy for FY 2020/21 will bring some relief to the sector.', 'content' => '<pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">July 19: Tourism entrepreneur who are in anxiety due to the mounting losses think that the Monetary Policy for FY 2020/21 will bring some relief to the sector.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The policy has some special arrangements in working capital loans, concessional loans and refinancing scheme for the revival of aviation business, transport, hotel, restaurant and tourism sector enterprises to overcome the losses caused by the Covid-19 crisis.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The new monetary policy has extended the repayment deadline of loan installment by two years for the under-construction tourist hotel projects that have been halted due to Covid-19 pandemic.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Hoteliers say that the provision to direct development bank and financial institutions to mandatorily provide 20 percent and 15 percent loans, respectively, of their total paid-up capital to the tourism sector will provide relief for small and medium-sized hotels.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai said that that the monetary policy will be crucial and positive for of reestablishment of the tourism sector businesses affected by the Covid-19 pandemic.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“The monetary policy has included most of the suggestions of the ministry and tourism entrepreneurs,” he said.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Stakeholders have welcomed the policy. However, they are skeptical over the implementation of the measures.</span></span> <span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">“Even though the monetary policy has tried to address the demand of the overall tourism industry, its implementation is doubtful,” said Yograj Sharma Kandel, spokesperson of the Airlines Operators Association of Nepal.</span></span></span></span></pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif"> "There were some good measures in the 2015 monetary policy, which was announced after the earthquake, to help businesses in trouble. However, the measures were not implemented at all. This is likely to happen now,” he added.</span></span></span></span> </pre> <pre> <span style="font-size:10pt"><span style="font-family:"Courier New""><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Similarly, Sajan Shakya, general secretary of the Hotel Association of Nepal (HAN) said that the measures in the policy are crucial to revive the tourism industry affected by the pandemic. “However, the implementation is important than the policy itself,” mentioned Shakya.</span></span></span></span></pre> <p> </p> ', 'published' => true, 'created' => '2020-07-19', 'modified' => '2020-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '11935', 'image' => '20200719042015_Tourism Nepal.jpg', 'article_date' => '2020-07-19 16:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ) ) $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
