Three microfinance companies that haven’t been listed at the Nepal Stock Exchange (NEPSE) till date have announced to go into merger.…
Three microfinance companies that haven’t been listed at the Nepal Stock Exchange (NEPSE) till date have announced to go into merger.…
While some economists have suggested the government to come up with budget smaller in size for the upcoming fiscal year citing sharp economic contraction, the Finance Committee of the Federal Parliament has recommended that the budget should be sized according to the ceiling set by the National Planning Commission (NPC).…
With the growing number of Nepalis returning from abroad due to the Covid-19 pandemic, the government has planned to utilise hotels and resorts as quarantine facilities.…
Stakeholders have stressed on the need to prioritise revival of the small and medium enterprises (SMEs) to kickstart the recovery of the Nepali economy ravaged by the COVID-19 pandemic and the lockdown imposed by the government to stop the possible spread of coronavirus.…
The Budget Review Mission (BRM) of the government’s flagship School Sector Development Program (SSDP) was completed on May 19 under the leadership of the Ministry of Education, Science and Technology (MoEST) with joint financing and non-joint financing partners including World Bank, USAID, ADB, Finland, Norway, European Union, JICA, Global Partnership for Education, REACH MDTF and UNICEF, and other stakeholders.…
Rs 200 billion in investment will be needed to generate employment to 3.4 million Nepalis who have lost their jobs in home and abroad due to the COVID-19 pandemic-induced crisis, a study commissioned by the government has found.…
The COVID-19 pandemic is threatening to undo the three decades of gains made in global human development - which can be measured as a combination of the world’s education, health and living standards – in 2020 for the first time since the introduction of the concept in 190, a new United Nations Development Programme (UNDP) report has warned.…
May 15: The government is in dilemma on whether or not to give continuity to the much criticized Local Infrastructure Development Partnership Programme in the budget for the upcoming fiscal year…
May 15: The import of food grains has increased drastically in the past seven weeks of lockdown.…
May 15: The Ministry of Home Affairs has decided to tighten the lockdown measures in the three districts of Kathmandu Valley after new cases of coronavirus were reported in the…
May 15: Nine more people have tested positive for coronavirus, according to the state-run national news agency…
May 15: The policies and programmes of the government for the new fiscal year 2020/21 will be presented in the joint meeting of the federal parliament on Friday (May 15).…
May 13: India has once again banned the import of refined palm oil from Nepal.…
May 13: The construction of a road inside Nepali territory in Lipulek by India has not only sent ripples across the political circle but also in the tourism…
May 13: Digital transaction has been experiencing a surge during the lockdown imposed to control the spread of Covid-19.…
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">Three microfinance companies that haven’t been listed at the Nepal Stock Exchange (NEPSE) till date have announced to go into merger. The microfinance institutions (MFIs) going into merger are Jeevan Bikas Laghubitta Bittiya Sanstha Limited, Salva Laghubitta Bittiya Sanstha Limited and Garibi Nyunikaran Laghubitta Bittiya Sanstha Limited. The name of the new entity formed after the union will be Jeevan Bikas Laghubitta Bittiya Sanstha. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The MFIs in December received approval from the Nepal Rastra Bank for merger. Issuing a notice today, the Morang-based Jeevan Bikas has announced to hold special general meeting (SGM) on June 7. The SMG will approve the merger proposal. Jeevan Bikas, which has Rs 140 million in paid-up capital, has reported to earn Rs 272.53 million in net profit by the third quarter of the current fiscal year. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-05-23', 'modified' => '2020-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '11814', 'image' => '20200523051028_Microfinance.jpg', 'article_date' => '2020-05-23 17:08:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 1 => array( 'Article' => array( 'id' => '12062', 'article_category_id' => '1', 'title' => 'Finance Committee Suggests Govt to Refrain from Reducing Budget Size ', 'sub_title' => '', 'summary' => 'While some economists have suggested the government to come up with budget smaller in size for the upcoming fiscal year citing sharp economic contraction, the Finance Committee of the Federal Parliament has recommended that the budget should be sized according to the ceiling set by the National Planning Commission (NPC). ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">While some economists have suggested the government to come up with budget smaller in size for the upcoming fiscal year citing sharp economic contraction, the Finance Committee of the Federal Parliament has recommended that the budget should be sized according to the ceiling set by the National Planning Commission (NPC). NPC had set the ceiling of the budget for FY2020/21 at Rs 1.7 trillion before the start of the pandemic-induced crisis. In a report prepared by the committee after the pre-budget discussion, the parliamentary panel has suggested the finance ministry to set the size of the budget at 45 percent of the estimated gross domestic product (GDP) of the country. The report has incorporated 13 sector-wise suggestions related to the budgetary preparation for the upcoming fiscal year. According to the committee, the government needs to address the covid-19 impacted sectors through policy level, monetary and economic relief packages. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The report concluded that the government needs to announce stimulus package equivalent to 5 percent of Nepal’s GDP, or Rs 188 billion, to restart the country’s economic engine. The house panel has suggested that the budget needs to prioritise areas including prevention and control of coronavirus, health infrastructure enhancement and development, modernisation and commercialisation of agriculture, industrialisation and transformation, productive employment and labour management. Other priority areas in the budget should be revival and promotion of cottage, small, medium and large-scale industries, and continuation of relief management and development programmes, according to the report. “All local levels need to allocate 10 percent of their budget for health infrastructure development coordinating with provincial and federal levels for prevention and control coronavirus and treatment of Covid-19 patients,” the report stated. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The committee has suggested the government to allocate 15 percent of the federal budget for development of agriculture, animal husbandry, irrigation and agricultural roads. Besides, </span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">it also suggested providing at least 50 percent subsidy to farmers for the purchase of agricultural equipment and fixing of the minimum support prices of major crops before plantation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The report has suggested establishing industry promotion centres in all seven provinces and providing tax concessions to industries to boost industrial productivity, exports and employment generation. The report has asked the government and private sector enterprises to bear one-third each of the salaries of the jobless workers. “Businesses such as hotels, restaurants, travel firms and transport companies that have become most affected by the measures taken to fight Covid-19 should be provided relief and concessions,” the report said. According to the report, the finance ministry needs to set Rs 1 trillion revenue target for the upcoming fiscal year without increasing tax rates. It has suggested mobilization of Rs 1 trillion in bilateral and mutilateral foreign aid while also recommending raising internal loans equivalent to 6 percent of GDP. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11812', 'image' => '20200522045437_budget.jpg', 'article_date' => '2020-05-22 16:53:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 2 => array( 'Article' => array( 'id' => '12061', 'article_category_id' => '1', 'title' => 'Govt Prepares Turning Hotels and Resorts into Covid-19 Quarantine Facilities', 'sub_title' => '', 'summary' => 'With the growing number of Nepalis returning from abroad due to the Covid-19 pandemic, the government has planned to utilise hotels and resorts as quarantine facilities. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:13.0pt"><span style="font-family:"Times New Roman",serif">With the growing number of Nepalis returning from abroad due to the Covid-19 pandemic, the government has planned to utilise hotels and resorts as quarantine facilities. In a meeting held at the Ministry of Urban Development on May 21, Ram Bir Manandhar, state minister for urban development informed that the government has started consultation to identify well-managed hospitality centres across the country to turn them into isolation facilities. According to him, 518 beds in different quarantine facilities are on standby mode in the Kathmandu valley currently. Similarly, 65,000 beds for isolation of Covid-19 patients are on standby throughout the country, while there are 25,000 people under isolation. </span></span></span></span></p> <p><span style="font-size:13.0pt"><span style="font-family:"Times New Roman",serif">State minister Manandhar, who has been monitoring and facilitating the country-wide quarantine expect necessary support from hospitality entrepreneurs at a time when Nepal is facing a big crisis. According to him, the government will pay certain amount of money to hotels and resorts that are presently without guests to ustilise them as facilities for saving lives of citizens. Manandhar said that the government has prioritized bringing back home the Nepali migrant workers who are stranded in different gulf countries. He urged all local bodies to fully engage in management of quarantine facilities and that the federal government will bear all expenses in this regard. The meeting held at the ministry was participated by high officials of home, defense, civil administration, health and urban development ministries. <em>(RSS)</em> </span></span><br /> <span style="font-size:15.0pt"><span style="font-family:"Arial",sans-serif"> </span></span><br /> </p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11811', 'image' => '20200522045228_govt prepares.jpg', 'article_date' => '2020-05-22 16:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 3 => array( 'Article' => array( 'id' => '12060', 'article_category_id' => '1', 'title' => '‘Revival of SMEs vital for economic recovery’', 'sub_title' => '', 'summary' => 'Stakeholders have stressed on the need to prioritise revival of the small and medium enterprises (SMEs) to kickstart the recovery of the Nepali economy ravaged by the COVID-19 pandemic and the lockdown imposed by the government to stop the possible spread of coronavirus. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Stakeholders have stressed on the need to prioritise revival of the small and medium enterprises (SMEs) to kickstart the recovery of the Nepali economy ravaged by the COVID-19 pandemic and the lockdown imposed by the government to stop the possible spread of coronavirus. In a webinar organised by the Confederation of Nepalese Industries (CNI) on May 21, panelists said that the government should make arrangements to enable SMEs to avail bank loans at around 3 percent interest rate. The programme titled ‘Respond Economy’ is last in a series of four webinars that CNI started from May 18 to discuss on various aspects related to the country’s economic recovery. “Priority should be given not only to large industries but also to SMEs,” said Binod Chaudhary, Member of Parliament and President Emeritus of CNI, adding, “But there is a challenge to make their business competitive. Now a building a separate network of SMEs has become necessary to move ahead.” He urged banks to support the local people to uplift them as entrepreneurs. “As banks have reached in all local levels of the country, they need to invest capital to help spur entrepreneurship. After that we industrialists will train the aspiring people so that entrepreneurs are produced at the local levels,” he mentioned. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Chaudhary talked about the challenges for the industrial sector to survive and revive by overcoming the current crisis. “The situation is deteriorating every day. As there are big challenges in front of us to get back into business activities there is an urgent need for the government to have plans for the survival and revival of the industrial sector,” he said. Chaudhary suggested the government to come up with stimulus package by focusing on sectors that can be revived. He also urged the government to seriously assess the deepening unemployment problem. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Like Chaudhary, other participants of the webinar also warned about the worsening situation due to skyrocketing unemployment in the country. “60 percent of the 4.4 million workers in the informal sectors have become jobless. On this basis, 2 million people urgently need relief to survive,” said Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC). According to him, Rs 6 billion is required on a monthly basis to provide food or cash relief to the 2 million jobless people. “50 percent of 2.5 million workers in the formal sectors have also become affected. They also need relief immediately. The government should provide subsidies to the employers to save their jobs,” said Sharma. According to him, the average monthly wage of workers in the formal sectors is Rs 20,000 and that the government will have to take additional burden of Rs 6 billion by contributing 25 percent to their salaries. “But this has become necessary to save the economy,” said Sharma. He suggested the government to use diplomatic means to arrange jobs to the jobless migrant workers in foreign lands. “It will be very difficult for us to manage all of them here. Those who have returned to Nepal can be provided self-employment opportunities in agriculture sector. The government needs to formulate law to allow leasing of land for agricultural purposes which will help to commercialise agriculture,” he mentioned. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Former Prime Minister Dr Baburam Bhattarai said that taking economy forward has become a serious matter and that the government lack seriousness to take the economy out of the mess. “Other countries have come up with adequate stimulus packages for economic recovery. But our government’s plans are abstract in this regard,” he claimed. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Bhattarai said that the current difficult situation also poses opportunities for Nepal. According to him, property archiving should be allowed which would help to bring out money from the informal sector, thus adding momentum to the economic revival. “Also, migrant workers who will return to the country should be taken as important source. A financial package is necessary to enable them to start their own business,” he said. Besides, the government also needs to continue investing in some large infrastructure projects in energy, air and land connectivity, and irrigation while keeping some other projects on hold for the time being. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Satish Kumar Moore, president of CNI suggested the government to work in policy reform with a view to attract foreign direct investment (FDI) in the manufacturing sector. </span><span style="font-size:14.0pt">Faris Hadad-Zervos, country manager of World Bank for Nepal said that the bank will help Nepal in its economic recovery. “We have already provided financial assistance to Nepal to help fight the coronavirus. We will continue our support in the coming days,” he mentioned. He suggested the stakeholders to work in public-private-partnership (PPP) modality to provide employment opportunities to Nepalis who have lost their job at home and abroad. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11810', 'image' => '20200522015739_CNI.jpg', 'article_date' => '2020-05-22 01:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 4 => array( 'Article' => array( 'id' => '12059', 'article_category_id' => '1', 'title' => 'Govt and Partners Take Stock of School Sector Development Program Amid COVID-19 Impacts', 'sub_title' => '', 'summary' => 'The Budget Review Mission (BRM) of the government’s flagship School Sector Development Program (SSDP) was completed on May 19 under the leadership of the Ministry of Education, Science and Technology (MoEST) with joint financing and non-joint financing partners including World Bank, USAID, ADB, Finland, Norway, European Union, JICA, Global Partnership for Education, REACH MDTF and UNICEF, and other stakeholders. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The Budget Review Mission (BRM) of the government’s flagship School Sector Development Program (SSDP) was completed on May 19 under the leadership of the Ministry of Education, Science and Technology (MoEST) with joint financing and non-joint financing partners including World Bank, USAID, ADB, Finland, Norway, European Union, JICA, Global Partnership for Education, REACH MDTF and UNICEF, and other stakeholders. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">“The review assessed progress and achievements of the plan’s fourth year of implementation, annual work plan and budget and allocation of resources for the final year, together with an assessment of the impact of COVID-19 on the SSDP,” reads a statement issued by 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:14.0pt"><span style="font-family:"Times New Roman",serif"> “We are looking at new modalities and approaches that ensure children continue to learn and at the same time ensure their wellbeing,” the statement quoted Dr Sanjay Sharma, secretary at MoEST as saying. “We expect that education will be a priority sector in the upcoming budget given the COVID-19 pandemic and will look at means to expedite programs and coordinate amongst all levels of government and stakeholders on a national framework that guides safe reopening of schools.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">According to the statement, the review appreciated MoEST’s continued effort to pursue and achieve education objectives under the SSDP, implementing reforms to improve access and the quality of education, and some of the immediate responses to the impact of COVID-19 on the education sector including a scenario based contingency plan to respond to immediate impacts and the initiation of remote teaching-learning programs to ensure that children can continue learning while the schools remain closed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">At the same time, it is expected that the shocks to education from the COVID-19 pandemic </span></span><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">could lead to increased dropout rates, learning loss and heighten the inequality with the most vulnerable students disproportionately bearing the impact of the shock.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">“The COVID-19 pandemic threatens to reverse the progress made to date on Nepal’s education outcomes impacting children and young people, especially the poor and vulnerable,” the statement quoted Faris Hadad-Zervos, country manager of World Bank for Nepal as saying. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The BRM recommended a set of agreed actions to expedite SSDP implementation in the final year under the broader purview of the immediate, medium and long term impacts of the COVID-19 pandemic on the education sector in Nepal.</span></span></span></span></p> <p><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">" Similar to many countries globally, it is likely that we will see the need to periodically close schools to protect the health of the population. I urge the MoEST to ensure that the fiscal year's education budget and work plan incorporate the activities identified in the Education Cluster Contingency plan so that local governments can receive funds and continue to provide access to education during this unprecedented crisis," the statement quoted USAID Acting Mission Director Adriana Hayes as saying.</span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11809', 'image' => '20200522015557_school 2.jpg', 'article_date' => '2020-05-22 01:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 5 => array( 'Article' => array( 'id' => '12058', 'article_category_id' => '1', 'title' => 'A Dozen Projects Proposed for Employment Generation', 'sub_title' => '', 'summary' => 'Rs 200 billion in investment will be needed to generate employment to 3.4 million Nepalis who have lost their jobs in home and abroad due to the COVID-19 pandemic-induced crisis, a study commissioned by the government has found. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">Rs 200 billion in investment will be needed to generate employment to 3.4 million Nepalis who have lost their jobs in home and abroad due to the COVID-19 pandemic-induced crisis, a study commissioned by the government has found. According to the study report prepared by a taskforce formed under the Ministry of Industry, Commerce and Supplies (MoICS), new employment opportunities can be created through 12 currently operational and proposed jobs and entrepreneurship projects. Among the projects proposed by the taskforce, Migrant Workers’ Employment Generation and Livelihood Improvement Project and Level-oriented Entrepreneurship Development Programme are the new projects suggested by the taskforce. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">Besides the projects that are being operated through different ministries and government agencies, operating industrial villages and special economic zones (SEZs) and increasing investment can create 3.394 million new jobs throughout the country, according to the report. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The taskforce formed under the coordination of Puspa Raj Shahi, head of Industrial and Investment Promotion Division at MoICS has recommended to start five projects immediately to lower the employment related challenge posed by the imminent return of hundreds of thousand of Nepali migrant workers and high number of domestic job losses. “The projects to provide jobs to the unemployed can be included in the Federal Budget for the upcoming fiscal year 2020/21,” the report suggested. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">According to the report, increasing investments in programmes such as Micro-Entrepreneurship Development Programme (MEDEP), Rural Enterprises and Remittances Project (Samriddhi), Agriculture-based Comprehensive Self-employment Project, </span><span style="font-size:14.0pt">Migrant Workers’ Employment Generation and Livelihood Improvement Project and Level-oriented Entrepreneurship Development Programme</span><span style="font-size:14.0pt"> will enable 2.16 million people to get jobs from the upcoming fiscal year. Among the projects, 2 million people can get employment and entrepreneurship opportunities in Agriculture-based Comprehensive Self-employment Project, the report said. In the report, the taskforce has also recommended consolidation of Prime Minister Agriculture Modernisation Project and other employment generation programmes. Similarly, it has suggested linking agri-business and entrepreneurship by bringing different funds to enable people to access seed capital for starting business. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11808', 'image' => '20200522014514_employment 2.jpg', 'article_date' => '2020-05-22 01:42:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 6 => array( 'Article' => array( 'id' => '12057', 'article_category_id' => '1', 'title' => 'Human Development on Course to Decline for the First Time Since 1990', 'sub_title' => '', 'summary' => 'The COVID-19 pandemic is threatening to undo the three decades of gains made in global human development - which can be measured as a combination of the world’s education, health and living standards – in 2020 for the first time since the introduction of the concept in 190, a new United Nations Development Programme (UNDP) report has warned. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The COVID-19 pandemic is threatening to undo the three decades of gains made in global human development - </span><span style="font-size:14.0pt">which can be measured as a combination of the world’s education, health and living standards – in 2020 for the first time since the introduction of the concept in 190, a new United Nations Development Programme (UNDP) report has warned. In its 2020 Human Development Perspectives titled COVID-19 and Human Development: Assessing the Crisis, Envisioning the Recovery, the UN body has said that declines in fundamental areas of human development are being felt across most countries - rich and poor - in every region. According to the report, the global per capita income this year is expected to fall by four percent. With closure of schools, UNDP estimates that “effective out-of-school rate”—the percentage of primary school-age children, adjusted to reflect those without internet access— 60 percent of children are not getting an education, leading to global levels not seen since the 1980s.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"> “The world has seen many crises over the past 30 years, including the Global Financial Crisis of 2007-09. Each has hit human development hard but, overall, development gains accrued globally year-on-year. COVID-19 – with its triple hit to health, education, and income – may change this trend,” said UNDP Administrator Achim Steiner. According to the report, the combined impact of these shocks could signify the largest reversal in human development on record. “This is not counting other significant effects, for instance, in the progress towards gender equality. The negative impacts on women and girls span economic - earning and saving less and greater job insecurity - reproductive health, unpaid care work and gender-based violence,” the report reads. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">According to UNDP, the drop in human development is expected to be much higher in developing countries that are less able to cope with the pandemic’s social and economic fallout than richer nations. The report stressed on the need for determined, equity-focused interventions to help economies and societies rally, mitigating the far-reaching impacts of the COVID-19 pandemic. “Implementing equity-focused approaches would be affordable. For instance, closing the gap in access to the internet for low- and middle-income countries is estimated to cost just one per cent of the extraordinary fiscal support packages the world has so far committed to respond to COVID-19,” the report stated. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">UNDP has recommended five priority steps to tackle the complexity of this crisis: protecting health systems and services; ramping up social protection; protecting jobs, small- and medium-sized businesses and informal sector workers; making macroeconomic policies work for everyone; and promoting peace, good governance and trust to build social cohesion. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11807', 'image' => '20200522014144_human.jpg', 'article_date' => '2020-05-22 01:38:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 7 => array( 'Article' => array( 'id' => '12055', 'article_category_id' => '1', 'title' => 'Government in a Fix to Give Continuity to Local Infrastructure Development Programme', 'sub_title' => '', 'summary' => 'May 15: The government is in dilemma on whether or not to give continuity to the much criticized Local Infrastructure Development Partnership Programme in the budget for the upcoming fiscal year 2020/21.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">May 15: The government is in dilemma on whether or not to give continuity to the much criticized Local Infrastructure Development Partnership Programme in the budget for the upcoming fiscal year 2020/21.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">The revenue collection has been weak due to the severe effects of lockdown on economic activities. The government is also facing a huge challenge to invest heavily on health infrastructure and employment programmes with the existing resources. Due to this, the officials at Ministry of Finance are not sure about giving continuity to this program in the upcoming budget.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">According to informed sources, the National Planning Commission has given the nod to the finance ministry to decide on this matter. Most of the members of parliament (MPs) from the ruling party are in favour of giving continuity to the programme. Due to this, the Ministry of Finance also is looking forward to including it in the budget. If the program is included in next year’s budget, the government is likely to allocate less amount of money than in the current fiscal year, said an official at the Ministry of Finance. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">In the current fiscal year, Rs 600 million was provided to each of the directly elected MPs for the infrastructure development programme. In the current fiscal year, around Rs 23 billion has been allocated for the programme. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">“Discussions are underway to allocate less budget for the programme due to limitation in revenue collection,” said a high-ranking official at the Ministry of Finance. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">Minister for Finance Yub Raj Khatiwada was not in favour of giving continuity to this programme even for the current fiscal year. This time too, he is not supportive, said sources. However, due to the pressure from the ruling party members, there is high possibility of continuing this programme. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11805', 'image' => '20200515074923_1589492253.jpg', 'article_date' => '2020-05-15 19:48:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '12054', 'article_category_id' => '1', 'title' => 'Import of Food Grains up Significantly During Lockdown', 'sub_title' => '', 'summary' => 'May 15: The import of food grains has increased drastically in the past seven weeks of lockdown. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">May 15: The import of food grains has increased drastically in the past seven weeks of lockdown. Data maintained by the Ministry of Industry, Commerce and Supplies indicate that import of food grains has skyrocketed in the last seven weeks since the lockdown started.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">According to a report published by the Ministry of Industry, Commerce and Supplies, altogether 13,343 tons of food grains were imported during the first week of the lockdown. However, the import increased in the second week. Nepal imported 14,643 tons of food grains in the second week of the lockdown. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import amount was up drastically to 31,441 tons in the fifth week. However, the import declined down in the sixth and seventh weeks of the lockdown. The imports declined to 28,526 tons and 25,805 tons, respectively during the sixth and seventh weeks of the lockdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Netra Prasad Subedi, director general of the Department of Supplies informed that the increase in import during the lockdown is normal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">He informed that it was natural for imports to increase as shipments were not affected by the lockdown and stocks of goods in the market were running out.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Avinash Bohara, central member of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), also expressed similar opinion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">He said that the import increased because consumers stockpiled food products more than required, fearing the possibility of food crisis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">"The increase in imports can also be attributed to the increase in relief programmes," he added.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import of food grains has increased by 93.4 percent and pulses by 26.2 percent in seventh week of the lockdown in comparison to the first week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import of vegetables and fruits also has increased by 25 percent and 61.3 percent respectively. Likewise, import of dairy products inclined up by 514.3 percent during the same period.</span></span></p> <p> </p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11804', 'image' => '20200515035749_hinkstockphotos.jpg', 'article_date' => '2020-05-15 15:57:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '12053', 'article_category_id' => '1', 'title' => 'Government Tightens Lockdown Measures in the Valley', 'sub_title' => '', 'summary' => 'May 15: The Ministry of Home Affairs has decided to tighten the lockdown measures in the three districts of Kathmandu Valley after new cases of coronavirus were reported in the capital.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">May 15: The Ministry of Home Affairs has decided to tighten the lockdown measures in the three districts of Kathmandu Valley after new cases of coronavirus were reported in the capital.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A meeting of the chief district officers of Kathmandu, Bhaktapur and Lalitpur as well as local representatives and security chiefs on Thursday (May 14) decided to adopt strict measures from Friday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Spokesperson at the ministry Kedahnath Sharma informed New Business Age that the districts outside the valley can issue vehicle passes only after consulting the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Recently, three persons who entered the valley from outside tested positive for coronavirus. Those cases were confirmed on Wednesday followed by a new case of infection in a six-year-old girl in the capital a day later. Fearing that the infection could go out of control if adequate measures are not taken, the authorities decided to further tighten the rules.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">After noticing coronavirus infection among people who recently entered the valley from outside districts, the home ministry decided to invalidate all the vehicle passes issued earlier. All such passes have been scrapped, effective from May 14. The meeting also decided to mandatorily perform Rapid Diagnostic Test on any person entering the valley even for emergency purpose. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Likewise, the authorities decided to consider only the passes issued by the concerned authorities as valid for government employees and staffers of banks and financial institutions within the valley.</span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11803', 'image' => '20200515112204_1589465895.jpg', 'article_date' => '2020-05-15 11:21:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '12052', 'article_category_id' => '1', 'title' => 'COVID-19 Tally Climbs to 258 ', 'sub_title' => '', 'summary' => 'May 15: Nine more people have tested positive for coronavirus, according to the state-run national news agency RSS.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 15: Nine more people have tested positive for coronavirus, according to the state-run national news agency RSS. Those who tested positive on Thursday are from Banke and Makawanpur districts. With this, the number of people infected with COVID-19 has reached to 258, RSS reported citing the Ministry of Health and Population. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to RSS, assistant spokesperson at the ministry Dr Samir Adhikari said the infection was found in nine persons in course of tests carried out on samples collected from different parts of the country. The tests were conducted at the Teku-based National Public Health Laboratory and at the Bheri Hospital, Nepalgunj on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS"">Among the new COVID-19 cases, eight are from Banke and one from Makawanpur. This is the first time that coronavirus infection has been seen in Makwanpur. A 37-year-old male tested positive to the virus in Makawanpur, according to RSS. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Similarly, COVID-19 infection was also found in eight men aged between 18 to 36 of Ward No 1, 3 and 5 of Narainapur Rural Municipality in Banke district. </span><br /> <span style="font-family:"Arial Unicode MS"">Assistant spokesman Dr Adhikari said the health condition of the infected persons is normal and they are under the supervision of health workers. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11802', 'image' => '20200515110731_Research1.jpg', 'article_date' => '2020-05-15 11:06:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '12051', 'article_category_id' => '1', 'title' => 'Govt to Announce Policies and Programmes for New Fiscal Year Today', 'sub_title' => '', 'summary' => 'May 15: The policies and programmes of the government for the new fiscal year 2020/21 will be presented in the joint meeting of the federal parliament on Friday (May 15). ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 15: The policies and programmes of the government for the new fiscal year 2020/21 will be presented in the joint meeting of the federal parliament on Friday (May 15). </span><br /> <span style="font-family:"Arial Unicode MS"">President Bidya Devi Bhandari will table the policy and programmes of the government in the joint meeting of the House of Representatives (HoR) and National Assembly at 4 pm, according to federal parliament secretariat spokesperson, Dr Rojnath Pandey. </span><br /> <span style="font-family:"Arial Unicode MS"">All the parliamentarians have been asked to attend the meeting and be seated for the meeting by 3:45 pm on Friday. They have been asked to put on decent apparel for the event. </span><br /> <span style="font-family:"Arial Unicode MS"">Spokesperson Pandey shared that all the safety protocols such as physical distancing, usage of safety gears such as mask and sanitization among others have been observed in the meeting hall to prevent the spread of the COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS"">There are 275 members in HoR and 59 in National Assembly. A total of 29 distinguished guests have been invited at the event including the President, the Vice-President, chiefs of the constitutional bodies and chiefs of security agencies among others. </span><br /> <span style="font-family:"Arial Unicode MS"">The heads of the foreign diplomatic missions as well as private sectors have not been invited this year in view of the prospect of COVID-19 transmission. </span><br /> <span style="font-family:"Arial Unicode MS"">The Nepal Communist Party-led government is going to launch the policies and porgrammes for the third time. Economic growth will be high in priority in the policies and programmes to be launched and implemented in the new fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">Furthermore, the policies and programmes of the government will also incorporate programmes that will address the issues emanated from the COVID-19. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11801', 'image' => '20200515110029_1589464915.jpg', 'article_date' => '2020-05-15 10:59:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '12048', 'article_category_id' => '1', 'title' => 'India Bans Palm Oil from Nepal Again', 'sub_title' => '', 'summary' => 'May 13: India has once again banned the import of refined palm oil from Nepal. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">May 13: India has once again banned the import of refined palm oil from Nepal. Nepalese industries have not been able to export the product after India’s Foreign Trade Directorate imposed the ban effective from Tuesday (May 12). </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The directorate issued a circular to its subordinate bodies on Monday to halt the import of palm oil.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Earlier, India had imposed a similar ban on January 8 for about one and a half months. India eased the restriction to some extent in late February, allowing some of its companies to import refined palm oil from Nepal. But again, India banned the product citing SAFTA regulation, which requires certificate of origin of the product. In the circular, the directorate has ordered all the customs offices to seek the certificate of origin of palm oil from Nepali and Bangladeshi companies as the two countries are signatories to the SAFTA (South Asian Free Trade Agreement). </span></span></span></p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '11800', 'image' => '20200513101938_1589322001.jpg', 'article_date' => '2020-05-13 10:18:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '12050', 'article_category_id' => '1', 'title' => 'Nepal’s Tourism Industry set to Lose 30,000 Indian Pilgrims', 'sub_title' => '', 'summary' => 'May 13: The construction of a road inside Nepali territory in Lipulek by India has not only sent ripples across the political circle but also in the tourism sector.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">May 13: The construction of a road inside Nepali territory in Lipulek by India has not only sent ripples across the political circle but also in the tourism sector. The tourism industry is likely to bear huge losses due to the construction of the vital road that links India with Mansarowar, a polgirmage site in Tibet.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">So far, most of the Indian tourists have been visiting the holy site through Nepal. Although it is possible to reach Mansarowar from India’s Sikkim, pilgrims from India prefer to visit the lake through Nepal due to convenience. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Generally, Indian pilgrims visit Mansarovar between May to September. However, China has banned the visit this year due to the COVID-19 pandemic. Next year, it is very much likely that Indian pilgrims will use the new route constructed by India by encroaching Nepal’s territory. This means, the tourism industry of Nepal will lose billions of rupees as well as employment. Hotel entrepreneurs who have invested heavily in Nepalgunj and Humla targeting Indian tourists will have to suffer great losses as well. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The new route opened by India last week is the shortest distance to Mansarowar. The pilgrimage site is just 100 kilometers from Lipulek while it is 110 kilometers from Hilsa of Humla. Tourism entrepreneurs say they are likely to loose 30,000 Indian pilgrims annually.</span></span></span></p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '11799', 'image' => '20200513104548_1589238047.jpg', 'article_date' => '2020-05-13 10:45:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '12049', 'article_category_id' => '1', 'title' => 'Increase in Digital Transaction during Lockdown', 'sub_title' => '', 'summary' => 'May 13: Digital transaction has been experiencing a surge during the lockdown imposed to control the spread of Covid-19. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">May 13: Digital transaction has been experiencing a surge during the lockdown imposed to control the spread of Covid-19. Banks and Financial Institution (BFIs) have also been focusing on digital banking. Recently, the number of customers using services like internet banking, debit, credit cards and pre-paid services has reached 10 million.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">According to the data from Nepal Rastra Bank (NRB), there are around 31.01 million deposit accounts. Among them most of them use mobile banking. Among the total depositors, 98,06,237 users use mobile banking. Around 72,15,646 depositors use debit card. Similarly, 9,69,055 customers use internet banking. Likewise, 1,46,856 users use credit card and 63,775 customer use pre-paid card. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Due to the pandemic, almost all services except emergency ones are closed. All the banks of Nepal haven’t charged any fee for any kind of digital transaction during the lockdown. The customers have been using digital method to pay for money transfer, mobile top-up, drinking water, electricity and internet bill. Mobile banking and internet banking system have been attracting more customers. Also, digital wallets including e-Sewa, Khalti, IME Pay have been making the payment process more convenient. Recently, people have also been doing various transaction from Connect IPS. This shows that the digital platform have potential to put an end to the use of cheque or paper money. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has been stressing on the need of investing in technology.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">NRB has been spending several millions annually on printing new notes. Maximum use of digital payment method will allow the country to use the printed notes for long time. So, Nepal Bankers Association has suggested in the pre-budget report that 80 percent of transaction must be digital. According to Bhuwan Kumar Dahal, president of Nepal Bankers’ Association, they have suggested NRB to focus on developing cashless transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Banking Expert Sanjeev Subba also stresses on the necessity of going into cashless transaction. He said that there are still several challenges when talking about expanding the usage of digital payment method throughout the country. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">“Despite the digital facilities, people still prefer to sit in queue for exchanging cheque and to deposit money. This shows that banking system in Nepal still relies on cash,” Subba said. The system is such that we still need to use paper to open bank account, exchange foreign notes and many other bank transactions. In the global scene, customers don’t get cheque and use ATM very less. For Nepal, there are still many hindrances to go into full-fledged digital banking. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11798', 'image' => '20200513103350_SO2.jpg', 'article_date' => '2020-05-13 10:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">Three microfinance companies that haven’t been listed at the Nepal Stock Exchange (NEPSE) till date have announced to go into merger. The microfinance institutions (MFIs) going into merger are Jeevan Bikas Laghubitta Bittiya Sanstha Limited, Salva Laghubitta Bittiya Sanstha Limited and Garibi Nyunikaran Laghubitta Bittiya Sanstha Limited. The name of the new entity formed after the union will be Jeevan Bikas Laghubitta Bittiya Sanstha. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The MFIs in December received approval from the Nepal Rastra Bank for merger. Issuing a notice today, the Morang-based Jeevan Bikas has announced to hold special general meeting (SGM) on June 7. The SMG will approve the merger proposal. Jeevan Bikas, which has Rs 140 million in paid-up capital, has reported to earn Rs 272.53 million in net profit by the third quarter of the current fiscal year. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-05-23', 'modified' => '2020-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '11814', 'image' => '20200523051028_Microfinance.jpg', 'article_date' => '2020-05-23 17:08:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 1 => array( 'Article' => array( 'id' => '12062', 'article_category_id' => '1', 'title' => 'Finance Committee Suggests Govt to Refrain from Reducing Budget Size ', 'sub_title' => '', 'summary' => 'While some economists have suggested the government to come up with budget smaller in size for the upcoming fiscal year citing sharp economic contraction, the Finance Committee of the Federal Parliament has recommended that the budget should be sized according to the ceiling set by the National Planning Commission (NPC). ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">While some economists have suggested the government to come up with budget smaller in size for the upcoming fiscal year citing sharp economic contraction, the Finance Committee of the Federal Parliament has recommended that the budget should be sized according to the ceiling set by the National Planning Commission (NPC). NPC had set the ceiling of the budget for FY2020/21 at Rs 1.7 trillion before the start of the pandemic-induced crisis. In a report prepared by the committee after the pre-budget discussion, the parliamentary panel has suggested the finance ministry to set the size of the budget at 45 percent of the estimated gross domestic product (GDP) of the country. The report has incorporated 13 sector-wise suggestions related to the budgetary preparation for the upcoming fiscal year. According to the committee, the government needs to address the covid-19 impacted sectors through policy level, monetary and economic relief packages. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The report concluded that the government needs to announce stimulus package equivalent to 5 percent of Nepal’s GDP, or Rs 188 billion, to restart the country’s economic engine. The house panel has suggested that the budget needs to prioritise areas including prevention and control of coronavirus, health infrastructure enhancement and development, modernisation and commercialisation of agriculture, industrialisation and transformation, productive employment and labour management. Other priority areas in the budget should be revival and promotion of cottage, small, medium and large-scale industries, and continuation of relief management and development programmes, according to the report. “All local levels need to allocate 10 percent of their budget for health infrastructure development coordinating with provincial and federal levels for prevention and control coronavirus and treatment of Covid-19 patients,” the report stated. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The committee has suggested the government to allocate 15 percent of the federal budget for development of agriculture, animal husbandry, irrigation and agricultural roads. Besides, </span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">it also suggested providing at least 50 percent subsidy to farmers for the purchase of agricultural equipment and fixing of the minimum support prices of major crops before plantation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The report has suggested establishing industry promotion centres in all seven provinces and providing tax concessions to industries to boost industrial productivity, exports and employment generation. The report has asked the government and private sector enterprises to bear one-third each of the salaries of the jobless workers. “Businesses such as hotels, restaurants, travel firms and transport companies that have become most affected by the measures taken to fight Covid-19 should be provided relief and concessions,” the report said. According to the report, the finance ministry needs to set Rs 1 trillion revenue target for the upcoming fiscal year without increasing tax rates. It has suggested mobilization of Rs 1 trillion in bilateral and mutilateral foreign aid while also recommending raising internal loans equivalent to 6 percent of GDP. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11812', 'image' => '20200522045437_budget.jpg', 'article_date' => '2020-05-22 16:53:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 2 => array( 'Article' => array( 'id' => '12061', 'article_category_id' => '1', 'title' => 'Govt Prepares Turning Hotels and Resorts into Covid-19 Quarantine Facilities', 'sub_title' => '', 'summary' => 'With the growing number of Nepalis returning from abroad due to the Covid-19 pandemic, the government has planned to utilise hotels and resorts as quarantine facilities. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:13.0pt"><span style="font-family:"Times New Roman",serif">With the growing number of Nepalis returning from abroad due to the Covid-19 pandemic, the government has planned to utilise hotels and resorts as quarantine facilities. In a meeting held at the Ministry of Urban Development on May 21, Ram Bir Manandhar, state minister for urban development informed that the government has started consultation to identify well-managed hospitality centres across the country to turn them into isolation facilities. According to him, 518 beds in different quarantine facilities are on standby mode in the Kathmandu valley currently. Similarly, 65,000 beds for isolation of Covid-19 patients are on standby throughout the country, while there are 25,000 people under isolation. </span></span></span></span></p> <p><span style="font-size:13.0pt"><span style="font-family:"Times New Roman",serif">State minister Manandhar, who has been monitoring and facilitating the country-wide quarantine expect necessary support from hospitality entrepreneurs at a time when Nepal is facing a big crisis. According to him, the government will pay certain amount of money to hotels and resorts that are presently without guests to ustilise them as facilities for saving lives of citizens. Manandhar said that the government has prioritized bringing back home the Nepali migrant workers who are stranded in different gulf countries. He urged all local bodies to fully engage in management of quarantine facilities and that the federal government will bear all expenses in this regard. The meeting held at the ministry was participated by high officials of home, defense, civil administration, health and urban development ministries. <em>(RSS)</em> </span></span><br /> <span style="font-size:15.0pt"><span style="font-family:"Arial",sans-serif"> </span></span><br /> </p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11811', 'image' => '20200522045228_govt prepares.jpg', 'article_date' => '2020-05-22 16:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 3 => array( 'Article' => array( 'id' => '12060', 'article_category_id' => '1', 'title' => '‘Revival of SMEs vital for economic recovery’', 'sub_title' => '', 'summary' => 'Stakeholders have stressed on the need to prioritise revival of the small and medium enterprises (SMEs) to kickstart the recovery of the Nepali economy ravaged by the COVID-19 pandemic and the lockdown imposed by the government to stop the possible spread of coronavirus. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Stakeholders have stressed on the need to prioritise revival of the small and medium enterprises (SMEs) to kickstart the recovery of the Nepali economy ravaged by the COVID-19 pandemic and the lockdown imposed by the government to stop the possible spread of coronavirus. In a webinar organised by the Confederation of Nepalese Industries (CNI) on May 21, panelists said that the government should make arrangements to enable SMEs to avail bank loans at around 3 percent interest rate. The programme titled ‘Respond Economy’ is last in a series of four webinars that CNI started from May 18 to discuss on various aspects related to the country’s economic recovery. “Priority should be given not only to large industries but also to SMEs,” said Binod Chaudhary, Member of Parliament and President Emeritus of CNI, adding, “But there is a challenge to make their business competitive. Now a building a separate network of SMEs has become necessary to move ahead.” He urged banks to support the local people to uplift them as entrepreneurs. “As banks have reached in all local levels of the country, they need to invest capital to help spur entrepreneurship. After that we industrialists will train the aspiring people so that entrepreneurs are produced at the local levels,” he mentioned. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Chaudhary talked about the challenges for the industrial sector to survive and revive by overcoming the current crisis. “The situation is deteriorating every day. As there are big challenges in front of us to get back into business activities there is an urgent need for the government to have plans for the survival and revival of the industrial sector,” he said. Chaudhary suggested the government to come up with stimulus package by focusing on sectors that can be revived. He also urged the government to seriously assess the deepening unemployment problem. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Like Chaudhary, other participants of the webinar also warned about the worsening situation due to skyrocketing unemployment in the country. “60 percent of the 4.4 million workers in the informal sectors have become jobless. On this basis, 2 million people urgently need relief to survive,” said Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC). According to him, Rs 6 billion is required on a monthly basis to provide food or cash relief to the 2 million jobless people. “50 percent of 2.5 million workers in the formal sectors have also become affected. They also need relief immediately. The government should provide subsidies to the employers to save their jobs,” said Sharma. According to him, the average monthly wage of workers in the formal sectors is Rs 20,000 and that the government will have to take additional burden of Rs 6 billion by contributing 25 percent to their salaries. “But this has become necessary to save the economy,” said Sharma. He suggested the government to use diplomatic means to arrange jobs to the jobless migrant workers in foreign lands. “It will be very difficult for us to manage all of them here. Those who have returned to Nepal can be provided self-employment opportunities in agriculture sector. The government needs to formulate law to allow leasing of land for agricultural purposes which will help to commercialise agriculture,” he mentioned. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Former Prime Minister Dr Baburam Bhattarai said that taking economy forward has become a serious matter and that the government lack seriousness to take the economy out of the mess. “Other countries have come up with adequate stimulus packages for economic recovery. But our government’s plans are abstract in this regard,” he claimed. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Bhattarai said that the current difficult situation also poses opportunities for Nepal. According to him, property archiving should be allowed which would help to bring out money from the informal sector, thus adding momentum to the economic revival. “Also, migrant workers who will return to the country should be taken as important source. A financial package is necessary to enable them to start their own business,” he said. Besides, the government also needs to continue investing in some large infrastructure projects in energy, air and land connectivity, and irrigation while keeping some other projects on hold for the time being. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Satish Kumar Moore, president of CNI suggested the government to work in policy reform with a view to attract foreign direct investment (FDI) in the manufacturing sector. </span><span style="font-size:14.0pt">Faris Hadad-Zervos, country manager of World Bank for Nepal said that the bank will help Nepal in its economic recovery. “We have already provided financial assistance to Nepal to help fight the coronavirus. We will continue our support in the coming days,” he mentioned. He suggested the stakeholders to work in public-private-partnership (PPP) modality to provide employment opportunities to Nepalis who have lost their job at home and abroad. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11810', 'image' => '20200522015739_CNI.jpg', 'article_date' => '2020-05-22 01:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 4 => array( 'Article' => array( 'id' => '12059', 'article_category_id' => '1', 'title' => 'Govt and Partners Take Stock of School Sector Development Program Amid COVID-19 Impacts', 'sub_title' => '', 'summary' => 'The Budget Review Mission (BRM) of the government’s flagship School Sector Development Program (SSDP) was completed on May 19 under the leadership of the Ministry of Education, Science and Technology (MoEST) with joint financing and non-joint financing partners including World Bank, USAID, ADB, Finland, Norway, European Union, JICA, Global Partnership for Education, REACH MDTF and UNICEF, and other stakeholders. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The Budget Review Mission (BRM) of the government’s flagship School Sector Development Program (SSDP) was completed on May 19 under the leadership of the Ministry of Education, Science and Technology (MoEST) with joint financing and non-joint financing partners including World Bank, USAID, ADB, Finland, Norway, European Union, JICA, Global Partnership for Education, REACH MDTF and UNICEF, and other stakeholders. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">“The review assessed progress and achievements of the plan’s fourth year of implementation, annual work plan and budget and allocation of resources for the final year, together with an assessment of the impact of COVID-19 on the SSDP,” reads a statement issued by 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:14.0pt"><span style="font-family:"Times New Roman",serif"> “We are looking at new modalities and approaches that ensure children continue to learn and at the same time ensure their wellbeing,” the statement quoted Dr Sanjay Sharma, secretary at MoEST as saying. “We expect that education will be a priority sector in the upcoming budget given the COVID-19 pandemic and will look at means to expedite programs and coordinate amongst all levels of government and stakeholders on a national framework that guides safe reopening of schools.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">According to the statement, the review appreciated MoEST’s continued effort to pursue and achieve education objectives under the SSDP, implementing reforms to improve access and the quality of education, and some of the immediate responses to the impact of COVID-19 on the education sector including a scenario based contingency plan to respond to immediate impacts and the initiation of remote teaching-learning programs to ensure that children can continue learning while the schools remain closed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">At the same time, it is expected that the shocks to education from the COVID-19 pandemic </span></span><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">could lead to increased dropout rates, learning loss and heighten the inequality with the most vulnerable students disproportionately bearing the impact of the shock.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">“The COVID-19 pandemic threatens to reverse the progress made to date on Nepal’s education outcomes impacting children and young people, especially the poor and vulnerable,” the statement quoted Faris Hadad-Zervos, country manager of World Bank for Nepal as saying. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The BRM recommended a set of agreed actions to expedite SSDP implementation in the final year under the broader purview of the immediate, medium and long term impacts of the COVID-19 pandemic on the education sector in Nepal.</span></span></span></span></p> <p><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">" Similar to many countries globally, it is likely that we will see the need to periodically close schools to protect the health of the population. I urge the MoEST to ensure that the fiscal year's education budget and work plan incorporate the activities identified in the Education Cluster Contingency plan so that local governments can receive funds and continue to provide access to education during this unprecedented crisis," the statement quoted USAID Acting Mission Director Adriana Hayes as saying.</span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11809', 'image' => '20200522015557_school 2.jpg', 'article_date' => '2020-05-22 01:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 5 => array( 'Article' => array( 'id' => '12058', 'article_category_id' => '1', 'title' => 'A Dozen Projects Proposed for Employment Generation', 'sub_title' => '', 'summary' => 'Rs 200 billion in investment will be needed to generate employment to 3.4 million Nepalis who have lost their jobs in home and abroad due to the COVID-19 pandemic-induced crisis, a study commissioned by the government has found. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">Rs 200 billion in investment will be needed to generate employment to 3.4 million Nepalis who have lost their jobs in home and abroad due to the COVID-19 pandemic-induced crisis, a study commissioned by the government has found. According to the study report prepared by a taskforce formed under the Ministry of Industry, Commerce and Supplies (MoICS), new employment opportunities can be created through 12 currently operational and proposed jobs and entrepreneurship projects. Among the projects proposed by the taskforce, Migrant Workers’ Employment Generation and Livelihood Improvement Project and Level-oriented Entrepreneurship Development Programme are the new projects suggested by the taskforce. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">Besides the projects that are being operated through different ministries and government agencies, operating industrial villages and special economic zones (SEZs) and increasing investment can create 3.394 million new jobs throughout the country, according to the report. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The taskforce formed under the coordination of Puspa Raj Shahi, head of Industrial and Investment Promotion Division at MoICS has recommended to start five projects immediately to lower the employment related challenge posed by the imminent return of hundreds of thousand of Nepali migrant workers and high number of domestic job losses. “The projects to provide jobs to the unemployed can be included in the Federal Budget for the upcoming fiscal year 2020/21,” the report suggested. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">According to the report, increasing investments in programmes such as Micro-Entrepreneurship Development Programme (MEDEP), Rural Enterprises and Remittances Project (Samriddhi), Agriculture-based Comprehensive Self-employment Project, </span><span style="font-size:14.0pt">Migrant Workers’ Employment Generation and Livelihood Improvement Project and Level-oriented Entrepreneurship Development Programme</span><span style="font-size:14.0pt"> will enable 2.16 million people to get jobs from the upcoming fiscal year. Among the projects, 2 million people can get employment and entrepreneurship opportunities in Agriculture-based Comprehensive Self-employment Project, the report said. In the report, the taskforce has also recommended consolidation of Prime Minister Agriculture Modernisation Project and other employment generation programmes. Similarly, it has suggested linking agri-business and entrepreneurship by bringing different funds to enable people to access seed capital for starting business. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11808', 'image' => '20200522014514_employment 2.jpg', 'article_date' => '2020-05-22 01:42:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 6 => array( 'Article' => array( 'id' => '12057', 'article_category_id' => '1', 'title' => 'Human Development on Course to Decline for the First Time Since 1990', 'sub_title' => '', 'summary' => 'The COVID-19 pandemic is threatening to undo the three decades of gains made in global human development - which can be measured as a combination of the world’s education, health and living standards – in 2020 for the first time since the introduction of the concept in 190, a new United Nations Development Programme (UNDP) report has warned. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The COVID-19 pandemic is threatening to undo the three decades of gains made in global human development - </span><span style="font-size:14.0pt">which can be measured as a combination of the world’s education, health and living standards – in 2020 for the first time since the introduction of the concept in 190, a new United Nations Development Programme (UNDP) report has warned. In its 2020 Human Development Perspectives titled COVID-19 and Human Development: Assessing the Crisis, Envisioning the Recovery, the UN body has said that declines in fundamental areas of human development are being felt across most countries - rich and poor - in every region. According to the report, the global per capita income this year is expected to fall by four percent. With closure of schools, UNDP estimates that “effective out-of-school rate”—the percentage of primary school-age children, adjusted to reflect those without internet access— 60 percent of children are not getting an education, leading to global levels not seen since the 1980s.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"> “The world has seen many crises over the past 30 years, including the Global Financial Crisis of 2007-09. Each has hit human development hard but, overall, development gains accrued globally year-on-year. COVID-19 – with its triple hit to health, education, and income – may change this trend,” said UNDP Administrator Achim Steiner. According to the report, the combined impact of these shocks could signify the largest reversal in human development on record. “This is not counting other significant effects, for instance, in the progress towards gender equality. The negative impacts on women and girls span economic - earning and saving less and greater job insecurity - reproductive health, unpaid care work and gender-based violence,” the report reads. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">According to UNDP, the drop in human development is expected to be much higher in developing countries that are less able to cope with the pandemic’s social and economic fallout than richer nations. The report stressed on the need for determined, equity-focused interventions to help economies and societies rally, mitigating the far-reaching impacts of the COVID-19 pandemic. “Implementing equity-focused approaches would be affordable. For instance, closing the gap in access to the internet for low- and middle-income countries is estimated to cost just one per cent of the extraordinary fiscal support packages the world has so far committed to respond to COVID-19,” the report stated. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">UNDP has recommended five priority steps to tackle the complexity of this crisis: protecting health systems and services; ramping up social protection; protecting jobs, small- and medium-sized businesses and informal sector workers; making macroeconomic policies work for everyone; and promoting peace, good governance and trust to build social cohesion. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11807', 'image' => '20200522014144_human.jpg', 'article_date' => '2020-05-22 01:38:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 7 => array( 'Article' => array( 'id' => '12055', 'article_category_id' => '1', 'title' => 'Government in a Fix to Give Continuity to Local Infrastructure Development Programme', 'sub_title' => '', 'summary' => 'May 15: The government is in dilemma on whether or not to give continuity to the much criticized Local Infrastructure Development Partnership Programme in the budget for the upcoming fiscal year 2020/21.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">May 15: The government is in dilemma on whether or not to give continuity to the much criticized Local Infrastructure Development Partnership Programme in the budget for the upcoming fiscal year 2020/21.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">The revenue collection has been weak due to the severe effects of lockdown on economic activities. The government is also facing a huge challenge to invest heavily on health infrastructure and employment programmes with the existing resources. Due to this, the officials at Ministry of Finance are not sure about giving continuity to this program in the upcoming budget.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">According to informed sources, the National Planning Commission has given the nod to the finance ministry to decide on this matter. Most of the members of parliament (MPs) from the ruling party are in favour of giving continuity to the programme. Due to this, the Ministry of Finance also is looking forward to including it in the budget. If the program is included in next year’s budget, the government is likely to allocate less amount of money than in the current fiscal year, said an official at the Ministry of Finance. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">In the current fiscal year, Rs 600 million was provided to each of the directly elected MPs for the infrastructure development programme. In the current fiscal year, around Rs 23 billion has been allocated for the programme. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">“Discussions are underway to allocate less budget for the programme due to limitation in revenue collection,” said a high-ranking official at the Ministry of Finance. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">Minister for Finance Yub Raj Khatiwada was not in favour of giving continuity to this programme even for the current fiscal year. This time too, he is not supportive, said sources. However, due to the pressure from the ruling party members, there is high possibility of continuing this programme. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11805', 'image' => '20200515074923_1589492253.jpg', 'article_date' => '2020-05-15 19:48:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '12054', 'article_category_id' => '1', 'title' => 'Import of Food Grains up Significantly During Lockdown', 'sub_title' => '', 'summary' => 'May 15: The import of food grains has increased drastically in the past seven weeks of lockdown. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">May 15: The import of food grains has increased drastically in the past seven weeks of lockdown. Data maintained by the Ministry of Industry, Commerce and Supplies indicate that import of food grains has skyrocketed in the last seven weeks since the lockdown started.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">According to a report published by the Ministry of Industry, Commerce and Supplies, altogether 13,343 tons of food grains were imported during the first week of the lockdown. However, the import increased in the second week. Nepal imported 14,643 tons of food grains in the second week of the lockdown. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import amount was up drastically to 31,441 tons in the fifth week. However, the import declined down in the sixth and seventh weeks of the lockdown. The imports declined to 28,526 tons and 25,805 tons, respectively during the sixth and seventh weeks of the lockdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Netra Prasad Subedi, director general of the Department of Supplies informed that the increase in import during the lockdown is normal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">He informed that it was natural for imports to increase as shipments were not affected by the lockdown and stocks of goods in the market were running out.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Avinash Bohara, central member of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), also expressed similar opinion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">He said that the import increased because consumers stockpiled food products more than required, fearing the possibility of food crisis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">"The increase in imports can also be attributed to the increase in relief programmes," he added.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import of food grains has increased by 93.4 percent and pulses by 26.2 percent in seventh week of the lockdown in comparison to the first week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import of vegetables and fruits also has increased by 25 percent and 61.3 percent respectively. Likewise, import of dairy products inclined up by 514.3 percent during the same period.</span></span></p> <p> </p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11804', 'image' => '20200515035749_hinkstockphotos.jpg', 'article_date' => '2020-05-15 15:57:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '12053', 'article_category_id' => '1', 'title' => 'Government Tightens Lockdown Measures in the Valley', 'sub_title' => '', 'summary' => 'May 15: The Ministry of Home Affairs has decided to tighten the lockdown measures in the three districts of Kathmandu Valley after new cases of coronavirus were reported in the capital.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">May 15: The Ministry of Home Affairs has decided to tighten the lockdown measures in the three districts of Kathmandu Valley after new cases of coronavirus were reported in the capital.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A meeting of the chief district officers of Kathmandu, Bhaktapur and Lalitpur as well as local representatives and security chiefs on Thursday (May 14) decided to adopt strict measures from Friday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Spokesperson at the ministry Kedahnath Sharma informed New Business Age that the districts outside the valley can issue vehicle passes only after consulting the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Recently, three persons who entered the valley from outside tested positive for coronavirus. Those cases were confirmed on Wednesday followed by a new case of infection in a six-year-old girl in the capital a day later. Fearing that the infection could go out of control if adequate measures are not taken, the authorities decided to further tighten the rules.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">After noticing coronavirus infection among people who recently entered the valley from outside districts, the home ministry decided to invalidate all the vehicle passes issued earlier. All such passes have been scrapped, effective from May 14. The meeting also decided to mandatorily perform Rapid Diagnostic Test on any person entering the valley even for emergency purpose. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Likewise, the authorities decided to consider only the passes issued by the concerned authorities as valid for government employees and staffers of banks and financial institutions within the valley.</span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11803', 'image' => '20200515112204_1589465895.jpg', 'article_date' => '2020-05-15 11:21:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '12052', 'article_category_id' => '1', 'title' => 'COVID-19 Tally Climbs to 258 ', 'sub_title' => '', 'summary' => 'May 15: Nine more people have tested positive for coronavirus, according to the state-run national news agency RSS.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 15: Nine more people have tested positive for coronavirus, according to the state-run national news agency RSS. Those who tested positive on Thursday are from Banke and Makawanpur districts. With this, the number of people infected with COVID-19 has reached to 258, RSS reported citing the Ministry of Health and Population. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to RSS, assistant spokesperson at the ministry Dr Samir Adhikari said the infection was found in nine persons in course of tests carried out on samples collected from different parts of the country. The tests were conducted at the Teku-based National Public Health Laboratory and at the Bheri Hospital, Nepalgunj on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS"">Among the new COVID-19 cases, eight are from Banke and one from Makawanpur. This is the first time that coronavirus infection has been seen in Makwanpur. A 37-year-old male tested positive to the virus in Makawanpur, according to RSS. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Similarly, COVID-19 infection was also found in eight men aged between 18 to 36 of Ward No 1, 3 and 5 of Narainapur Rural Municipality in Banke district. </span><br /> <span style="font-family:"Arial Unicode MS"">Assistant spokesman Dr Adhikari said the health condition of the infected persons is normal and they are under the supervision of health workers. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11802', 'image' => '20200515110731_Research1.jpg', 'article_date' => '2020-05-15 11:06:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '12051', 'article_category_id' => '1', 'title' => 'Govt to Announce Policies and Programmes for New Fiscal Year Today', 'sub_title' => '', 'summary' => 'May 15: The policies and programmes of the government for the new fiscal year 2020/21 will be presented in the joint meeting of the federal parliament on Friday (May 15). ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 15: The policies and programmes of the government for the new fiscal year 2020/21 will be presented in the joint meeting of the federal parliament on Friday (May 15). </span><br /> <span style="font-family:"Arial Unicode MS"">President Bidya Devi Bhandari will table the policy and programmes of the government in the joint meeting of the House of Representatives (HoR) and National Assembly at 4 pm, according to federal parliament secretariat spokesperson, Dr Rojnath Pandey. </span><br /> <span style="font-family:"Arial Unicode MS"">All the parliamentarians have been asked to attend the meeting and be seated for the meeting by 3:45 pm on Friday. They have been asked to put on decent apparel for the event. </span><br /> <span style="font-family:"Arial Unicode MS"">Spokesperson Pandey shared that all the safety protocols such as physical distancing, usage of safety gears such as mask and sanitization among others have been observed in the meeting hall to prevent the spread of the COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS"">There are 275 members in HoR and 59 in National Assembly. A total of 29 distinguished guests have been invited at the event including the President, the Vice-President, chiefs of the constitutional bodies and chiefs of security agencies among others. </span><br /> <span style="font-family:"Arial Unicode MS"">The heads of the foreign diplomatic missions as well as private sectors have not been invited this year in view of the prospect of COVID-19 transmission. </span><br /> <span style="font-family:"Arial Unicode MS"">The Nepal Communist Party-led government is going to launch the policies and porgrammes for the third time. Economic growth will be high in priority in the policies and programmes to be launched and implemented in the new fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">Furthermore, the policies and programmes of the government will also incorporate programmes that will address the issues emanated from the COVID-19. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11801', 'image' => '20200515110029_1589464915.jpg', 'article_date' => '2020-05-15 10:59:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '12048', 'article_category_id' => '1', 'title' => 'India Bans Palm Oil from Nepal Again', 'sub_title' => '', 'summary' => 'May 13: India has once again banned the import of refined palm oil from Nepal. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">May 13: India has once again banned the import of refined palm oil from Nepal. Nepalese industries have not been able to export the product after India’s Foreign Trade Directorate imposed the ban effective from Tuesday (May 12). </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The directorate issued a circular to its subordinate bodies on Monday to halt the import of palm oil.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Earlier, India had imposed a similar ban on January 8 for about one and a half months. India eased the restriction to some extent in late February, allowing some of its companies to import refined palm oil from Nepal. But again, India banned the product citing SAFTA regulation, which requires certificate of origin of the product. In the circular, the directorate has ordered all the customs offices to seek the certificate of origin of palm oil from Nepali and Bangladeshi companies as the two countries are signatories to the SAFTA (South Asian Free Trade Agreement). </span></span></span></p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '11800', 'image' => '20200513101938_1589322001.jpg', 'article_date' => '2020-05-13 10:18:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '12050', 'article_category_id' => '1', 'title' => 'Nepal’s Tourism Industry set to Lose 30,000 Indian Pilgrims', 'sub_title' => '', 'summary' => 'May 13: The construction of a road inside Nepali territory in Lipulek by India has not only sent ripples across the political circle but also in the tourism sector.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">May 13: The construction of a road inside Nepali territory in Lipulek by India has not only sent ripples across the political circle but also in the tourism sector. The tourism industry is likely to bear huge losses due to the construction of the vital road that links India with Mansarowar, a polgirmage site in Tibet.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">So far, most of the Indian tourists have been visiting the holy site through Nepal. Although it is possible to reach Mansarowar from India’s Sikkim, pilgrims from India prefer to visit the lake through Nepal due to convenience. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Generally, Indian pilgrims visit Mansarovar between May to September. However, China has banned the visit this year due to the COVID-19 pandemic. Next year, it is very much likely that Indian pilgrims will use the new route constructed by India by encroaching Nepal’s territory. This means, the tourism industry of Nepal will lose billions of rupees as well as employment. Hotel entrepreneurs who have invested heavily in Nepalgunj and Humla targeting Indian tourists will have to suffer great losses as well. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The new route opened by India last week is the shortest distance to Mansarowar. The pilgrimage site is just 100 kilometers from Lipulek while it is 110 kilometers from Hilsa of Humla. Tourism entrepreneurs say they are likely to loose 30,000 Indian pilgrims annually.</span></span></span></p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '11799', 'image' => '20200513104548_1589238047.jpg', 'article_date' => '2020-05-13 10:45:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '12049', 'article_category_id' => '1', 'title' => 'Increase in Digital Transaction during Lockdown', 'sub_title' => '', 'summary' => 'May 13: Digital transaction has been experiencing a surge during the lockdown imposed to control the spread of Covid-19. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">May 13: Digital transaction has been experiencing a surge during the lockdown imposed to control the spread of Covid-19. Banks and Financial Institution (BFIs) have also been focusing on digital banking. Recently, the number of customers using services like internet banking, debit, credit cards and pre-paid services has reached 10 million.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">According to the data from Nepal Rastra Bank (NRB), there are around 31.01 million deposit accounts. Among them most of them use mobile banking. Among the total depositors, 98,06,237 users use mobile banking. Around 72,15,646 depositors use debit card. Similarly, 9,69,055 customers use internet banking. Likewise, 1,46,856 users use credit card and 63,775 customer use pre-paid card. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Due to the pandemic, almost all services except emergency ones are closed. All the banks of Nepal haven’t charged any fee for any kind of digital transaction during the lockdown. The customers have been using digital method to pay for money transfer, mobile top-up, drinking water, electricity and internet bill. Mobile banking and internet banking system have been attracting more customers. Also, digital wallets including e-Sewa, Khalti, IME Pay have been making the payment process more convenient. Recently, people have also been doing various transaction from Connect IPS. This shows that the digital platform have potential to put an end to the use of cheque or paper money. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has been stressing on the need of investing in technology.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">NRB has been spending several millions annually on printing new notes. Maximum use of digital payment method will allow the country to use the printed notes for long time. So, Nepal Bankers Association has suggested in the pre-budget report that 80 percent of transaction must be digital. According to Bhuwan Kumar Dahal, president of Nepal Bankers’ Association, they have suggested NRB to focus on developing cashless transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Banking Expert Sanjeev Subba also stresses on the necessity of going into cashless transaction. He said that there are still several challenges when talking about expanding the usage of digital payment method throughout the country. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">“Despite the digital facilities, people still prefer to sit in queue for exchanging cheque and to deposit money. This shows that banking system in Nepal still relies on cash,” Subba said. The system is such that we still need to use paper to open bank account, exchange foreign notes and many other bank transactions. In the global scene, customers don’t get cheque and use ATM very less. For Nepal, there are still many hindrances to go into full-fledged digital banking. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11798', 'image' => '20200513103350_SO2.jpg', 'article_date' => '2020-05-13 10:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">Three microfinance companies that haven’t been listed at the Nepal Stock Exchange (NEPSE) till date have announced to go into merger. The microfinance institutions (MFIs) going into merger are Jeevan Bikas Laghubitta Bittiya Sanstha Limited, Salva Laghubitta Bittiya Sanstha Limited and Garibi Nyunikaran Laghubitta Bittiya Sanstha Limited. The name of the new entity formed after the union will be Jeevan Bikas Laghubitta Bittiya Sanstha. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The MFIs in December received approval from the Nepal Rastra Bank for merger. Issuing a notice today, the Morang-based Jeevan Bikas has announced to hold special general meeting (SGM) on June 7. The SMG will approve the merger proposal. Jeevan Bikas, which has Rs 140 million in paid-up capital, has reported to earn Rs 272.53 million in net profit by the third quarter of the current fiscal year. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-05-23', 'modified' => '2020-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '11814', 'image' => '20200523051028_Microfinance.jpg', 'article_date' => '2020-05-23 17:08:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 1 => array( 'Article' => array( 'id' => '12062', 'article_category_id' => '1', 'title' => 'Finance Committee Suggests Govt to Refrain from Reducing Budget Size ', 'sub_title' => '', 'summary' => 'While some economists have suggested the government to come up with budget smaller in size for the upcoming fiscal year citing sharp economic contraction, the Finance Committee of the Federal Parliament has recommended that the budget should be sized according to the ceiling set by the National Planning Commission (NPC). ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">While some economists have suggested the government to come up with budget smaller in size for the upcoming fiscal year citing sharp economic contraction, the Finance Committee of the Federal Parliament has recommended that the budget should be sized according to the ceiling set by the National Planning Commission (NPC). NPC had set the ceiling of the budget for FY2020/21 at Rs 1.7 trillion before the start of the pandemic-induced crisis. In a report prepared by the committee after the pre-budget discussion, the parliamentary panel has suggested the finance ministry to set the size of the budget at 45 percent of the estimated gross domestic product (GDP) of the country. The report has incorporated 13 sector-wise suggestions related to the budgetary preparation for the upcoming fiscal year. According to the committee, the government needs to address the covid-19 impacted sectors through policy level, monetary and economic relief packages. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The report concluded that the government needs to announce stimulus package equivalent to 5 percent of Nepal’s GDP, or Rs 188 billion, to restart the country’s economic engine. The house panel has suggested that the budget needs to prioritise areas including prevention and control of coronavirus, health infrastructure enhancement and development, modernisation and commercialisation of agriculture, industrialisation and transformation, productive employment and labour management. Other priority areas in the budget should be revival and promotion of cottage, small, medium and large-scale industries, and continuation of relief management and development programmes, according to the report. “All local levels need to allocate 10 percent of their budget for health infrastructure development coordinating with provincial and federal levels for prevention and control coronavirus and treatment of Covid-19 patients,” the report stated. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The committee has suggested the government to allocate 15 percent of the federal budget for development of agriculture, animal husbandry, irrigation and agricultural roads. Besides, </span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">it also suggested providing at least 50 percent subsidy to farmers for the purchase of agricultural equipment and fixing of the minimum support prices of major crops before plantation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The report has suggested establishing industry promotion centres in all seven provinces and providing tax concessions to industries to boost industrial productivity, exports and employment generation. The report has asked the government and private sector enterprises to bear one-third each of the salaries of the jobless workers. “Businesses such as hotels, restaurants, travel firms and transport companies that have become most affected by the measures taken to fight Covid-19 should be provided relief and concessions,” the report said. According to the report, the finance ministry needs to set Rs 1 trillion revenue target for the upcoming fiscal year without increasing tax rates. It has suggested mobilization of Rs 1 trillion in bilateral and mutilateral foreign aid while also recommending raising internal loans equivalent to 6 percent of GDP. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11812', 'image' => '20200522045437_budget.jpg', 'article_date' => '2020-05-22 16:53:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 2 => array( 'Article' => array( 'id' => '12061', 'article_category_id' => '1', 'title' => 'Govt Prepares Turning Hotels and Resorts into Covid-19 Quarantine Facilities', 'sub_title' => '', 'summary' => 'With the growing number of Nepalis returning from abroad due to the Covid-19 pandemic, the government has planned to utilise hotels and resorts as quarantine facilities. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:13.0pt"><span style="font-family:"Times New Roman",serif">With the growing number of Nepalis returning from abroad due to the Covid-19 pandemic, the government has planned to utilise hotels and resorts as quarantine facilities. In a meeting held at the Ministry of Urban Development on May 21, Ram Bir Manandhar, state minister for urban development informed that the government has started consultation to identify well-managed hospitality centres across the country to turn them into isolation facilities. According to him, 518 beds in different quarantine facilities are on standby mode in the Kathmandu valley currently. Similarly, 65,000 beds for isolation of Covid-19 patients are on standby throughout the country, while there are 25,000 people under isolation. </span></span></span></span></p> <p><span style="font-size:13.0pt"><span style="font-family:"Times New Roman",serif">State minister Manandhar, who has been monitoring and facilitating the country-wide quarantine expect necessary support from hospitality entrepreneurs at a time when Nepal is facing a big crisis. According to him, the government will pay certain amount of money to hotels and resorts that are presently without guests to ustilise them as facilities for saving lives of citizens. Manandhar said that the government has prioritized bringing back home the Nepali migrant workers who are stranded in different gulf countries. He urged all local bodies to fully engage in management of quarantine facilities and that the federal government will bear all expenses in this regard. The meeting held at the ministry was participated by high officials of home, defense, civil administration, health and urban development ministries. <em>(RSS)</em> </span></span><br /> <span style="font-size:15.0pt"><span style="font-family:"Arial",sans-serif"> </span></span><br /> </p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11811', 'image' => '20200522045228_govt prepares.jpg', 'article_date' => '2020-05-22 16:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 3 => array( 'Article' => array( 'id' => '12060', 'article_category_id' => '1', 'title' => '‘Revival of SMEs vital for economic recovery’', 'sub_title' => '', 'summary' => 'Stakeholders have stressed on the need to prioritise revival of the small and medium enterprises (SMEs) to kickstart the recovery of the Nepali economy ravaged by the COVID-19 pandemic and the lockdown imposed by the government to stop the possible spread of coronavirus. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Stakeholders have stressed on the need to prioritise revival of the small and medium enterprises (SMEs) to kickstart the recovery of the Nepali economy ravaged by the COVID-19 pandemic and the lockdown imposed by the government to stop the possible spread of coronavirus. In a webinar organised by the Confederation of Nepalese Industries (CNI) on May 21, panelists said that the government should make arrangements to enable SMEs to avail bank loans at around 3 percent interest rate. The programme titled ‘Respond Economy’ is last in a series of four webinars that CNI started from May 18 to discuss on various aspects related to the country’s economic recovery. “Priority should be given not only to large industries but also to SMEs,” said Binod Chaudhary, Member of Parliament and President Emeritus of CNI, adding, “But there is a challenge to make their business competitive. Now a building a separate network of SMEs has become necessary to move ahead.” He urged banks to support the local people to uplift them as entrepreneurs. “As banks have reached in all local levels of the country, they need to invest capital to help spur entrepreneurship. After that we industrialists will train the aspiring people so that entrepreneurs are produced at the local levels,” he mentioned. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Chaudhary talked about the challenges for the industrial sector to survive and revive by overcoming the current crisis. “The situation is deteriorating every day. As there are big challenges in front of us to get back into business activities there is an urgent need for the government to have plans for the survival and revival of the industrial sector,” he said. Chaudhary suggested the government to come up with stimulus package by focusing on sectors that can be revived. He also urged the government to seriously assess the deepening unemployment problem. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Like Chaudhary, other participants of the webinar also warned about the worsening situation due to skyrocketing unemployment in the country. “60 percent of the 4.4 million workers in the informal sectors have become jobless. On this basis, 2 million people urgently need relief to survive,” said Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC). According to him, Rs 6 billion is required on a monthly basis to provide food or cash relief to the 2 million jobless people. “50 percent of 2.5 million workers in the formal sectors have also become affected. They also need relief immediately. The government should provide subsidies to the employers to save their jobs,” said Sharma. According to him, the average monthly wage of workers in the formal sectors is Rs 20,000 and that the government will have to take additional burden of Rs 6 billion by contributing 25 percent to their salaries. “But this has become necessary to save the economy,” said Sharma. He suggested the government to use diplomatic means to arrange jobs to the jobless migrant workers in foreign lands. “It will be very difficult for us to manage all of them here. Those who have returned to Nepal can be provided self-employment opportunities in agriculture sector. The government needs to formulate law to allow leasing of land for agricultural purposes which will help to commercialise agriculture,” he mentioned. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Former Prime Minister Dr Baburam Bhattarai said that taking economy forward has become a serious matter and that the government lack seriousness to take the economy out of the mess. “Other countries have come up with adequate stimulus packages for economic recovery. But our government’s plans are abstract in this regard,” he claimed. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Bhattarai said that the current difficult situation also poses opportunities for Nepal. According to him, property archiving should be allowed which would help to bring out money from the informal sector, thus adding momentum to the economic revival. “Also, migrant workers who will return to the country should be taken as important source. A financial package is necessary to enable them to start their own business,” he said. Besides, the government also needs to continue investing in some large infrastructure projects in energy, air and land connectivity, and irrigation while keeping some other projects on hold for the time being. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Satish Kumar Moore, president of CNI suggested the government to work in policy reform with a view to attract foreign direct investment (FDI) in the manufacturing sector. </span><span style="font-size:14.0pt">Faris Hadad-Zervos, country manager of World Bank for Nepal said that the bank will help Nepal in its economic recovery. “We have already provided financial assistance to Nepal to help fight the coronavirus. We will continue our support in the coming days,” he mentioned. He suggested the stakeholders to work in public-private-partnership (PPP) modality to provide employment opportunities to Nepalis who have lost their job at home and abroad. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11810', 'image' => '20200522015739_CNI.jpg', 'article_date' => '2020-05-22 01:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 4 => array( 'Article' => array( 'id' => '12059', 'article_category_id' => '1', 'title' => 'Govt and Partners Take Stock of School Sector Development Program Amid COVID-19 Impacts', 'sub_title' => '', 'summary' => 'The Budget Review Mission (BRM) of the government’s flagship School Sector Development Program (SSDP) was completed on May 19 under the leadership of the Ministry of Education, Science and Technology (MoEST) with joint financing and non-joint financing partners including World Bank, USAID, ADB, Finland, Norway, European Union, JICA, Global Partnership for Education, REACH MDTF and UNICEF, and other stakeholders. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The Budget Review Mission (BRM) of the government’s flagship School Sector Development Program (SSDP) was completed on May 19 under the leadership of the Ministry of Education, Science and Technology (MoEST) with joint financing and non-joint financing partners including World Bank, USAID, ADB, Finland, Norway, European Union, JICA, Global Partnership for Education, REACH MDTF and UNICEF, and other stakeholders. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">“The review assessed progress and achievements of the plan’s fourth year of implementation, annual work plan and budget and allocation of resources for the final year, together with an assessment of the impact of COVID-19 on the SSDP,” reads a statement issued by 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:14.0pt"><span style="font-family:"Times New Roman",serif"> “We are looking at new modalities and approaches that ensure children continue to learn and at the same time ensure their wellbeing,” the statement quoted Dr Sanjay Sharma, secretary at MoEST as saying. “We expect that education will be a priority sector in the upcoming budget given the COVID-19 pandemic and will look at means to expedite programs and coordinate amongst all levels of government and stakeholders on a national framework that guides safe reopening of schools.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">According to the statement, the review appreciated MoEST’s continued effort to pursue and achieve education objectives under the SSDP, implementing reforms to improve access and the quality of education, and some of the immediate responses to the impact of COVID-19 on the education sector including a scenario based contingency plan to respond to immediate impacts and the initiation of remote teaching-learning programs to ensure that children can continue learning while the schools remain closed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">At the same time, it is expected that the shocks to education from the COVID-19 pandemic </span></span><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">could lead to increased dropout rates, learning loss and heighten the inequality with the most vulnerable students disproportionately bearing the impact of the shock.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">“The COVID-19 pandemic threatens to reverse the progress made to date on Nepal’s education outcomes impacting children and young people, especially the poor and vulnerable,” the statement quoted Faris Hadad-Zervos, country manager of World Bank for Nepal as saying. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The BRM recommended a set of agreed actions to expedite SSDP implementation in the final year under the broader purview of the immediate, medium and long term impacts of the COVID-19 pandemic on the education sector in Nepal.</span></span></span></span></p> <p><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">" Similar to many countries globally, it is likely that we will see the need to periodically close schools to protect the health of the population. I urge the MoEST to ensure that the fiscal year's education budget and work plan incorporate the activities identified in the Education Cluster Contingency plan so that local governments can receive funds and continue to provide access to education during this unprecedented crisis," the statement quoted USAID Acting Mission Director Adriana Hayes as saying.</span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11809', 'image' => '20200522015557_school 2.jpg', 'article_date' => '2020-05-22 01:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 5 => array( 'Article' => array( 'id' => '12058', 'article_category_id' => '1', 'title' => 'A Dozen Projects Proposed for Employment Generation', 'sub_title' => '', 'summary' => 'Rs 200 billion in investment will be needed to generate employment to 3.4 million Nepalis who have lost their jobs in home and abroad due to the COVID-19 pandemic-induced crisis, a study commissioned by the government has found. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">Rs 200 billion in investment will be needed to generate employment to 3.4 million Nepalis who have lost their jobs in home and abroad due to the COVID-19 pandemic-induced crisis, a study commissioned by the government has found. According to the study report prepared by a taskforce formed under the Ministry of Industry, Commerce and Supplies (MoICS), new employment opportunities can be created through 12 currently operational and proposed jobs and entrepreneurship projects. Among the projects proposed by the taskforce, Migrant Workers’ Employment Generation and Livelihood Improvement Project and Level-oriented Entrepreneurship Development Programme are the new projects suggested by the taskforce. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">Besides the projects that are being operated through different ministries and government agencies, operating industrial villages and special economic zones (SEZs) and increasing investment can create 3.394 million new jobs throughout the country, according to the report. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The taskforce formed under the coordination of Puspa Raj Shahi, head of Industrial and Investment Promotion Division at MoICS has recommended to start five projects immediately to lower the employment related challenge posed by the imminent return of hundreds of thousand of Nepali migrant workers and high number of domestic job losses. “The projects to provide jobs to the unemployed can be included in the Federal Budget for the upcoming fiscal year 2020/21,” the report suggested. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">According to the report, increasing investments in programmes such as Micro-Entrepreneurship Development Programme (MEDEP), Rural Enterprises and Remittances Project (Samriddhi), Agriculture-based Comprehensive Self-employment Project, </span><span style="font-size:14.0pt">Migrant Workers’ Employment Generation and Livelihood Improvement Project and Level-oriented Entrepreneurship Development Programme</span><span style="font-size:14.0pt"> will enable 2.16 million people to get jobs from the upcoming fiscal year. Among the projects, 2 million people can get employment and entrepreneurship opportunities in Agriculture-based Comprehensive Self-employment Project, the report said. In the report, the taskforce has also recommended consolidation of Prime Minister Agriculture Modernisation Project and other employment generation programmes. Similarly, it has suggested linking agri-business and entrepreneurship by bringing different funds to enable people to access seed capital for starting business. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11808', 'image' => '20200522014514_employment 2.jpg', 'article_date' => '2020-05-22 01:42:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 6 => array( 'Article' => array( 'id' => '12057', 'article_category_id' => '1', 'title' => 'Human Development on Course to Decline for the First Time Since 1990', 'sub_title' => '', 'summary' => 'The COVID-19 pandemic is threatening to undo the three decades of gains made in global human development - which can be measured as a combination of the world’s education, health and living standards – in 2020 for the first time since the introduction of the concept in 190, a new United Nations Development Programme (UNDP) report has warned. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The COVID-19 pandemic is threatening to undo the three decades of gains made in global human development - </span><span style="font-size:14.0pt">which can be measured as a combination of the world’s education, health and living standards – in 2020 for the first time since the introduction of the concept in 190, a new United Nations Development Programme (UNDP) report has warned. In its 2020 Human Development Perspectives titled COVID-19 and Human Development: Assessing the Crisis, Envisioning the Recovery, the UN body has said that declines in fundamental areas of human development are being felt across most countries - rich and poor - in every region. According to the report, the global per capita income this year is expected to fall by four percent. With closure of schools, UNDP estimates that “effective out-of-school rate”—the percentage of primary school-age children, adjusted to reflect those without internet access— 60 percent of children are not getting an education, leading to global levels not seen since the 1980s.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"> “The world has seen many crises over the past 30 years, including the Global Financial Crisis of 2007-09. Each has hit human development hard but, overall, development gains accrued globally year-on-year. COVID-19 – with its triple hit to health, education, and income – may change this trend,” said UNDP Administrator Achim Steiner. According to the report, the combined impact of these shocks could signify the largest reversal in human development on record. “This is not counting other significant effects, for instance, in the progress towards gender equality. The negative impacts on women and girls span economic - earning and saving less and greater job insecurity - reproductive health, unpaid care work and gender-based violence,” the report reads. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">According to UNDP, the drop in human development is expected to be much higher in developing countries that are less able to cope with the pandemic’s social and economic fallout than richer nations. The report stressed on the need for determined, equity-focused interventions to help economies and societies rally, mitigating the far-reaching impacts of the COVID-19 pandemic. “Implementing equity-focused approaches would be affordable. For instance, closing the gap in access to the internet for low- and middle-income countries is estimated to cost just one per cent of the extraordinary fiscal support packages the world has so far committed to respond to COVID-19,” the report stated. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">UNDP has recommended five priority steps to tackle the complexity of this crisis: protecting health systems and services; ramping up social protection; protecting jobs, small- and medium-sized businesses and informal sector workers; making macroeconomic policies work for everyone; and promoting peace, good governance and trust to build social cohesion. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11807', 'image' => '20200522014144_human.jpg', 'article_date' => '2020-05-22 01:38:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 7 => array( 'Article' => array( 'id' => '12055', 'article_category_id' => '1', 'title' => 'Government in a Fix to Give Continuity to Local Infrastructure Development Programme', 'sub_title' => '', 'summary' => 'May 15: The government is in dilemma on whether or not to give continuity to the much criticized Local Infrastructure Development Partnership Programme in the budget for the upcoming fiscal year 2020/21.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">May 15: The government is in dilemma on whether or not to give continuity to the much criticized Local Infrastructure Development Partnership Programme in the budget for the upcoming fiscal year 2020/21.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">The revenue collection has been weak due to the severe effects of lockdown on economic activities. The government is also facing a huge challenge to invest heavily on health infrastructure and employment programmes with the existing resources. Due to this, the officials at Ministry of Finance are not sure about giving continuity to this program in the upcoming budget.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">According to informed sources, the National Planning Commission has given the nod to the finance ministry to decide on this matter. Most of the members of parliament (MPs) from the ruling party are in favour of giving continuity to the programme. Due to this, the Ministry of Finance also is looking forward to including it in the budget. If the program is included in next year’s budget, the government is likely to allocate less amount of money than in the current fiscal year, said an official at the Ministry of Finance. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">In the current fiscal year, Rs 600 million was provided to each of the directly elected MPs for the infrastructure development programme. In the current fiscal year, around Rs 23 billion has been allocated for the programme. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">“Discussions are underway to allocate less budget for the programme due to limitation in revenue collection,” said a high-ranking official at the Ministry of Finance. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">Minister for Finance Yub Raj Khatiwada was not in favour of giving continuity to this programme even for the current fiscal year. This time too, he is not supportive, said sources. However, due to the pressure from the ruling party members, there is high possibility of continuing this programme. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11805', 'image' => '20200515074923_1589492253.jpg', 'article_date' => '2020-05-15 19:48:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '12054', 'article_category_id' => '1', 'title' => 'Import of Food Grains up Significantly During Lockdown', 'sub_title' => '', 'summary' => 'May 15: The import of food grains has increased drastically in the past seven weeks of lockdown. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">May 15: The import of food grains has increased drastically in the past seven weeks of lockdown. Data maintained by the Ministry of Industry, Commerce and Supplies indicate that import of food grains has skyrocketed in the last seven weeks since the lockdown started.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">According to a report published by the Ministry of Industry, Commerce and Supplies, altogether 13,343 tons of food grains were imported during the first week of the lockdown. However, the import increased in the second week. Nepal imported 14,643 tons of food grains in the second week of the lockdown. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import amount was up drastically to 31,441 tons in the fifth week. However, the import declined down in the sixth and seventh weeks of the lockdown. The imports declined to 28,526 tons and 25,805 tons, respectively during the sixth and seventh weeks of the lockdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Netra Prasad Subedi, director general of the Department of Supplies informed that the increase in import during the lockdown is normal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">He informed that it was natural for imports to increase as shipments were not affected by the lockdown and stocks of goods in the market were running out.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Avinash Bohara, central member of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), also expressed similar opinion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">He said that the import increased because consumers stockpiled food products more than required, fearing the possibility of food crisis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">"The increase in imports can also be attributed to the increase in relief programmes," he added.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import of food grains has increased by 93.4 percent and pulses by 26.2 percent in seventh week of the lockdown in comparison to the first week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import of vegetables and fruits also has increased by 25 percent and 61.3 percent respectively. Likewise, import of dairy products inclined up by 514.3 percent during the same period.</span></span></p> <p> </p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11804', 'image' => '20200515035749_hinkstockphotos.jpg', 'article_date' => '2020-05-15 15:57:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '12053', 'article_category_id' => '1', 'title' => 'Government Tightens Lockdown Measures in the Valley', 'sub_title' => '', 'summary' => 'May 15: The Ministry of Home Affairs has decided to tighten the lockdown measures in the three districts of Kathmandu Valley after new cases of coronavirus were reported in the capital.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">May 15: The Ministry of Home Affairs has decided to tighten the lockdown measures in the three districts of Kathmandu Valley after new cases of coronavirus were reported in the capital.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A meeting of the chief district officers of Kathmandu, Bhaktapur and Lalitpur as well as local representatives and security chiefs on Thursday (May 14) decided to adopt strict measures from Friday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Spokesperson at the ministry Kedahnath Sharma informed New Business Age that the districts outside the valley can issue vehicle passes only after consulting the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Recently, three persons who entered the valley from outside tested positive for coronavirus. Those cases were confirmed on Wednesday followed by a new case of infection in a six-year-old girl in the capital a day later. Fearing that the infection could go out of control if adequate measures are not taken, the authorities decided to further tighten the rules.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">After noticing coronavirus infection among people who recently entered the valley from outside districts, the home ministry decided to invalidate all the vehicle passes issued earlier. All such passes have been scrapped, effective from May 14. The meeting also decided to mandatorily perform Rapid Diagnostic Test on any person entering the valley even for emergency purpose. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Likewise, the authorities decided to consider only the passes issued by the concerned authorities as valid for government employees and staffers of banks and financial institutions within the valley.</span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11803', 'image' => '20200515112204_1589465895.jpg', 'article_date' => '2020-05-15 11:21:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '12052', 'article_category_id' => '1', 'title' => 'COVID-19 Tally Climbs to 258 ', 'sub_title' => '', 'summary' => 'May 15: Nine more people have tested positive for coronavirus, according to the state-run national news agency RSS.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 15: Nine more people have tested positive for coronavirus, according to the state-run national news agency RSS. Those who tested positive on Thursday are from Banke and Makawanpur districts. With this, the number of people infected with COVID-19 has reached to 258, RSS reported citing the Ministry of Health and Population. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to RSS, assistant spokesperson at the ministry Dr Samir Adhikari said the infection was found in nine persons in course of tests carried out on samples collected from different parts of the country. The tests were conducted at the Teku-based National Public Health Laboratory and at the Bheri Hospital, Nepalgunj on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS"">Among the new COVID-19 cases, eight are from Banke and one from Makawanpur. This is the first time that coronavirus infection has been seen in Makwanpur. A 37-year-old male tested positive to the virus in Makawanpur, according to RSS. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Similarly, COVID-19 infection was also found in eight men aged between 18 to 36 of Ward No 1, 3 and 5 of Narainapur Rural Municipality in Banke district. </span><br /> <span style="font-family:"Arial Unicode MS"">Assistant spokesman Dr Adhikari said the health condition of the infected persons is normal and they are under the supervision of health workers. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11802', 'image' => '20200515110731_Research1.jpg', 'article_date' => '2020-05-15 11:06:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '12051', 'article_category_id' => '1', 'title' => 'Govt to Announce Policies and Programmes for New Fiscal Year Today', 'sub_title' => '', 'summary' => 'May 15: The policies and programmes of the government for the new fiscal year 2020/21 will be presented in the joint meeting of the federal parliament on Friday (May 15). ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 15: The policies and programmes of the government for the new fiscal year 2020/21 will be presented in the joint meeting of the federal parliament on Friday (May 15). </span><br /> <span style="font-family:"Arial Unicode MS"">President Bidya Devi Bhandari will table the policy and programmes of the government in the joint meeting of the House of Representatives (HoR) and National Assembly at 4 pm, according to federal parliament secretariat spokesperson, Dr Rojnath Pandey. </span><br /> <span style="font-family:"Arial Unicode MS"">All the parliamentarians have been asked to attend the meeting and be seated for the meeting by 3:45 pm on Friday. They have been asked to put on decent apparel for the event. </span><br /> <span style="font-family:"Arial Unicode MS"">Spokesperson Pandey shared that all the safety protocols such as physical distancing, usage of safety gears such as mask and sanitization among others have been observed in the meeting hall to prevent the spread of the COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS"">There are 275 members in HoR and 59 in National Assembly. A total of 29 distinguished guests have been invited at the event including the President, the Vice-President, chiefs of the constitutional bodies and chiefs of security agencies among others. </span><br /> <span style="font-family:"Arial Unicode MS"">The heads of the foreign diplomatic missions as well as private sectors have not been invited this year in view of the prospect of COVID-19 transmission. </span><br /> <span style="font-family:"Arial Unicode MS"">The Nepal Communist Party-led government is going to launch the policies and porgrammes for the third time. Economic growth will be high in priority in the policies and programmes to be launched and implemented in the new fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">Furthermore, the policies and programmes of the government will also incorporate programmes that will address the issues emanated from the COVID-19. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11801', 'image' => '20200515110029_1589464915.jpg', 'article_date' => '2020-05-15 10:59:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '12048', 'article_category_id' => '1', 'title' => 'India Bans Palm Oil from Nepal Again', 'sub_title' => '', 'summary' => 'May 13: India has once again banned the import of refined palm oil from Nepal. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">May 13: India has once again banned the import of refined palm oil from Nepal. Nepalese industries have not been able to export the product after India’s Foreign Trade Directorate imposed the ban effective from Tuesday (May 12). </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The directorate issued a circular to its subordinate bodies on Monday to halt the import of palm oil.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Earlier, India had imposed a similar ban on January 8 for about one and a half months. India eased the restriction to some extent in late February, allowing some of its companies to import refined palm oil from Nepal. But again, India banned the product citing SAFTA regulation, which requires certificate of origin of the product. In the circular, the directorate has ordered all the customs offices to seek the certificate of origin of palm oil from Nepali and Bangladeshi companies as the two countries are signatories to the SAFTA (South Asian Free Trade Agreement). </span></span></span></p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '11800', 'image' => '20200513101938_1589322001.jpg', 'article_date' => '2020-05-13 10:18:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '12050', 'article_category_id' => '1', 'title' => 'Nepal’s Tourism Industry set to Lose 30,000 Indian Pilgrims', 'sub_title' => '', 'summary' => 'May 13: The construction of a road inside Nepali territory in Lipulek by India has not only sent ripples across the political circle but also in the tourism sector.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">May 13: The construction of a road inside Nepali territory in Lipulek by India has not only sent ripples across the political circle but also in the tourism sector. The tourism industry is likely to bear huge losses due to the construction of the vital road that links India with Mansarowar, a polgirmage site in Tibet.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">So far, most of the Indian tourists have been visiting the holy site through Nepal. Although it is possible to reach Mansarowar from India’s Sikkim, pilgrims from India prefer to visit the lake through Nepal due to convenience. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Generally, Indian pilgrims visit Mansarovar between May to September. However, China has banned the visit this year due to the COVID-19 pandemic. Next year, it is very much likely that Indian pilgrims will use the new route constructed by India by encroaching Nepal’s territory. This means, the tourism industry of Nepal will lose billions of rupees as well as employment. Hotel entrepreneurs who have invested heavily in Nepalgunj and Humla targeting Indian tourists will have to suffer great losses as well. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The new route opened by India last week is the shortest distance to Mansarowar. The pilgrimage site is just 100 kilometers from Lipulek while it is 110 kilometers from Hilsa of Humla. Tourism entrepreneurs say they are likely to loose 30,000 Indian pilgrims annually.</span></span></span></p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '11799', 'image' => '20200513104548_1589238047.jpg', 'article_date' => '2020-05-13 10:45:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '12049', 'article_category_id' => '1', 'title' => 'Increase in Digital Transaction during Lockdown', 'sub_title' => '', 'summary' => 'May 13: Digital transaction has been experiencing a surge during the lockdown imposed to control the spread of Covid-19. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">May 13: Digital transaction has been experiencing a surge during the lockdown imposed to control the spread of Covid-19. Banks and Financial Institution (BFIs) have also been focusing on digital banking. Recently, the number of customers using services like internet banking, debit, credit cards and pre-paid services has reached 10 million.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">According to the data from Nepal Rastra Bank (NRB), there are around 31.01 million deposit accounts. Among them most of them use mobile banking. Among the total depositors, 98,06,237 users use mobile banking. Around 72,15,646 depositors use debit card. Similarly, 9,69,055 customers use internet banking. Likewise, 1,46,856 users use credit card and 63,775 customer use pre-paid card. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Due to the pandemic, almost all services except emergency ones are closed. All the banks of Nepal haven’t charged any fee for any kind of digital transaction during the lockdown. The customers have been using digital method to pay for money transfer, mobile top-up, drinking water, electricity and internet bill. Mobile banking and internet banking system have been attracting more customers. Also, digital wallets including e-Sewa, Khalti, IME Pay have been making the payment process more convenient. Recently, people have also been doing various transaction from Connect IPS. This shows that the digital platform have potential to put an end to the use of cheque or paper money. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has been stressing on the need of investing in technology.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">NRB has been spending several millions annually on printing new notes. Maximum use of digital payment method will allow the country to use the printed notes for long time. So, Nepal Bankers Association has suggested in the pre-budget report that 80 percent of transaction must be digital. According to Bhuwan Kumar Dahal, president of Nepal Bankers’ Association, they have suggested NRB to focus on developing cashless transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Banking Expert Sanjeev Subba also stresses on the necessity of going into cashless transaction. He said that there are still several challenges when talking about expanding the usage of digital payment method throughout the country. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">“Despite the digital facilities, people still prefer to sit in queue for exchanging cheque and to deposit money. This shows that banking system in Nepal still relies on cash,” Subba said. The system is such that we still need to use paper to open bank account, exchange foreign notes and many other bank transactions. In the global scene, customers don’t get cheque and use ATM very less. For Nepal, there are still many hindrances to go into full-fledged digital banking. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11798', 'image' => '20200513103350_SO2.jpg', 'article_date' => '2020-05-13 10:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">Three microfinance companies that haven’t been listed at the Nepal Stock Exchange (NEPSE) till date have announced to go into merger. The microfinance institutions (MFIs) going into merger are Jeevan Bikas Laghubitta Bittiya Sanstha Limited, Salva Laghubitta Bittiya Sanstha Limited and Garibi Nyunikaran Laghubitta Bittiya Sanstha Limited. The name of the new entity formed after the union will be Jeevan Bikas Laghubitta Bittiya Sanstha. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The MFIs in December received approval from the Nepal Rastra Bank for merger. Issuing a notice today, the Morang-based Jeevan Bikas has announced to hold special general meeting (SGM) on June 7. The SMG will approve the merger proposal. Jeevan Bikas, which has Rs 140 million in paid-up capital, has reported to earn Rs 272.53 million in net profit by the third quarter of the current fiscal year. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-05-23', 'modified' => '2020-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '11814', 'image' => '20200523051028_Microfinance.jpg', 'article_date' => '2020-05-23 17:08:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 1 => array( 'Article' => array( 'id' => '12062', 'article_category_id' => '1', 'title' => 'Finance Committee Suggests Govt to Refrain from Reducing Budget Size ', 'sub_title' => '', 'summary' => 'While some economists have suggested the government to come up with budget smaller in size for the upcoming fiscal year citing sharp economic contraction, the Finance Committee of the Federal Parliament has recommended that the budget should be sized according to the ceiling set by the National Planning Commission (NPC). ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">While some economists have suggested the government to come up with budget smaller in size for the upcoming fiscal year citing sharp economic contraction, the Finance Committee of the Federal Parliament has recommended that the budget should be sized according to the ceiling set by the National Planning Commission (NPC). NPC had set the ceiling of the budget for FY2020/21 at Rs 1.7 trillion before the start of the pandemic-induced crisis. In a report prepared by the committee after the pre-budget discussion, the parliamentary panel has suggested the finance ministry to set the size of the budget at 45 percent of the estimated gross domestic product (GDP) of the country. The report has incorporated 13 sector-wise suggestions related to the budgetary preparation for the upcoming fiscal year. According to the committee, the government needs to address the covid-19 impacted sectors through policy level, monetary and economic relief packages. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The report concluded that the government needs to announce stimulus package equivalent to 5 percent of Nepal’s GDP, or Rs 188 billion, to restart the country’s economic engine. The house panel has suggested that the budget needs to prioritise areas including prevention and control of coronavirus, health infrastructure enhancement and development, modernisation and commercialisation of agriculture, industrialisation and transformation, productive employment and labour management. Other priority areas in the budget should be revival and promotion of cottage, small, medium and large-scale industries, and continuation of relief management and development programmes, according to the report. “All local levels need to allocate 10 percent of their budget for health infrastructure development coordinating with provincial and federal levels for prevention and control coronavirus and treatment of Covid-19 patients,” the report stated. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The committee has suggested the government to allocate 15 percent of the federal budget for development of agriculture, animal husbandry, irrigation and agricultural roads. Besides, </span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">it also suggested providing at least 50 percent subsidy to farmers for the purchase of agricultural equipment and fixing of the minimum support prices of major crops before plantation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI",sans-serif">The report has suggested establishing industry promotion centres in all seven provinces and providing tax concessions to industries to boost industrial productivity, exports and employment generation. The report has asked the government and private sector enterprises to bear one-third each of the salaries of the jobless workers. “Businesses such as hotels, restaurants, travel firms and transport companies that have become most affected by the measures taken to fight Covid-19 should be provided relief and concessions,” the report said. According to the report, the finance ministry needs to set Rs 1 trillion revenue target for the upcoming fiscal year without increasing tax rates. It has suggested mobilization of Rs 1 trillion in bilateral and mutilateral foreign aid while also recommending raising internal loans equivalent to 6 percent of GDP. </span></span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11812', 'image' => '20200522045437_budget.jpg', 'article_date' => '2020-05-22 16:53:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 2 => array( 'Article' => array( 'id' => '12061', 'article_category_id' => '1', 'title' => 'Govt Prepares Turning Hotels and Resorts into Covid-19 Quarantine Facilities', 'sub_title' => '', 'summary' => 'With the growing number of Nepalis returning from abroad due to the Covid-19 pandemic, the government has planned to utilise hotels and resorts as quarantine facilities. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:13.0pt"><span style="font-family:"Times New Roman",serif">With the growing number of Nepalis returning from abroad due to the Covid-19 pandemic, the government has planned to utilise hotels and resorts as quarantine facilities. In a meeting held at the Ministry of Urban Development on May 21, Ram Bir Manandhar, state minister for urban development informed that the government has started consultation to identify well-managed hospitality centres across the country to turn them into isolation facilities. According to him, 518 beds in different quarantine facilities are on standby mode in the Kathmandu valley currently. Similarly, 65,000 beds for isolation of Covid-19 patients are on standby throughout the country, while there are 25,000 people under isolation. </span></span></span></span></p> <p><span style="font-size:13.0pt"><span style="font-family:"Times New Roman",serif">State minister Manandhar, who has been monitoring and facilitating the country-wide quarantine expect necessary support from hospitality entrepreneurs at a time when Nepal is facing a big crisis. According to him, the government will pay certain amount of money to hotels and resorts that are presently without guests to ustilise them as facilities for saving lives of citizens. Manandhar said that the government has prioritized bringing back home the Nepali migrant workers who are stranded in different gulf countries. He urged all local bodies to fully engage in management of quarantine facilities and that the federal government will bear all expenses in this regard. The meeting held at the ministry was participated by high officials of home, defense, civil administration, health and urban development ministries. <em>(RSS)</em> </span></span><br /> <span style="font-size:15.0pt"><span style="font-family:"Arial",sans-serif"> </span></span><br /> </p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11811', 'image' => '20200522045228_govt prepares.jpg', 'article_date' => '2020-05-22 16:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 3 => array( 'Article' => array( 'id' => '12060', 'article_category_id' => '1', 'title' => '‘Revival of SMEs vital for economic recovery’', 'sub_title' => '', 'summary' => 'Stakeholders have stressed on the need to prioritise revival of the small and medium enterprises (SMEs) to kickstart the recovery of the Nepali economy ravaged by the COVID-19 pandemic and the lockdown imposed by the government to stop the possible spread of coronavirus. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Stakeholders have stressed on the need to prioritise revival of the small and medium enterprises (SMEs) to kickstart the recovery of the Nepali economy ravaged by the COVID-19 pandemic and the lockdown imposed by the government to stop the possible spread of coronavirus. In a webinar organised by the Confederation of Nepalese Industries (CNI) on May 21, panelists said that the government should make arrangements to enable SMEs to avail bank loans at around 3 percent interest rate. The programme titled ‘Respond Economy’ is last in a series of four webinars that CNI started from May 18 to discuss on various aspects related to the country’s economic recovery. “Priority should be given not only to large industries but also to SMEs,” said Binod Chaudhary, Member of Parliament and President Emeritus of CNI, adding, “But there is a challenge to make their business competitive. Now a building a separate network of SMEs has become necessary to move ahead.” He urged banks to support the local people to uplift them as entrepreneurs. “As banks have reached in all local levels of the country, they need to invest capital to help spur entrepreneurship. After that we industrialists will train the aspiring people so that entrepreneurs are produced at the local levels,” he mentioned. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Chaudhary talked about the challenges for the industrial sector to survive and revive by overcoming the current crisis. “The situation is deteriorating every day. As there are big challenges in front of us to get back into business activities there is an urgent need for the government to have plans for the survival and revival of the industrial sector,” he said. Chaudhary suggested the government to come up with stimulus package by focusing on sectors that can be revived. He also urged the government to seriously assess the deepening unemployment problem. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Like Chaudhary, other participants of the webinar also warned about the worsening situation due to skyrocketing unemployment in the country. “60 percent of the 4.4 million workers in the informal sectors have become jobless. On this basis, 2 million people urgently need relief to survive,” said Dr Shankar Sharma, former vice chairman of National Planning Commission (NPC). According to him, Rs 6 billion is required on a monthly basis to provide food or cash relief to the 2 million jobless people. “50 percent of 2.5 million workers in the formal sectors have also become affected. They also need relief immediately. The government should provide subsidies to the employers to save their jobs,” said Sharma. According to him, the average monthly wage of workers in the formal sectors is Rs 20,000 and that the government will have to take additional burden of Rs 6 billion by contributing 25 percent to their salaries. “But this has become necessary to save the economy,” said Sharma. He suggested the government to use diplomatic means to arrange jobs to the jobless migrant workers in foreign lands. “It will be very difficult for us to manage all of them here. Those who have returned to Nepal can be provided self-employment opportunities in agriculture sector. The government needs to formulate law to allow leasing of land for agricultural purposes which will help to commercialise agriculture,” he mentioned. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Former Prime Minister Dr Baburam Bhattarai said that taking economy forward has become a serious matter and that the government lack seriousness to take the economy out of the mess. “Other countries have come up with adequate stimulus packages for economic recovery. But our government’s plans are abstract in this regard,” he claimed. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Bhattarai said that the current difficult situation also poses opportunities for Nepal. According to him, property archiving should be allowed which would help to bring out money from the informal sector, thus adding momentum to the economic revival. “Also, migrant workers who will return to the country should be taken as important source. A financial package is necessary to enable them to start their own business,” he said. Besides, the government also needs to continue investing in some large infrastructure projects in energy, air and land connectivity, and irrigation while keeping some other projects on hold for the time being. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Satish Kumar Moore, president of CNI suggested the government to work in policy reform with a view to attract foreign direct investment (FDI) in the manufacturing sector. </span><span style="font-size:14.0pt">Faris Hadad-Zervos, country manager of World Bank for Nepal said that the bank will help Nepal in its economic recovery. “We have already provided financial assistance to Nepal to help fight the coronavirus. We will continue our support in the coming days,” he mentioned. He suggested the stakeholders to work in public-private-partnership (PPP) modality to provide employment opportunities to Nepalis who have lost their job at home and abroad. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11810', 'image' => '20200522015739_CNI.jpg', 'article_date' => '2020-05-22 01:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 4 => array( 'Article' => array( 'id' => '12059', 'article_category_id' => '1', 'title' => 'Govt and Partners Take Stock of School Sector Development Program Amid COVID-19 Impacts', 'sub_title' => '', 'summary' => 'The Budget Review Mission (BRM) of the government’s flagship School Sector Development Program (SSDP) was completed on May 19 under the leadership of the Ministry of Education, Science and Technology (MoEST) with joint financing and non-joint financing partners including World Bank, USAID, ADB, Finland, Norway, European Union, JICA, Global Partnership for Education, REACH MDTF and UNICEF, and other stakeholders. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The Budget Review Mission (BRM) of the government’s flagship School Sector Development Program (SSDP) was completed on May 19 under the leadership of the Ministry of Education, Science and Technology (MoEST) with joint financing and non-joint financing partners including World Bank, USAID, ADB, Finland, Norway, European Union, JICA, Global Partnership for Education, REACH MDTF and UNICEF, and other stakeholders. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">“The review assessed progress and achievements of the plan’s fourth year of implementation, annual work plan and budget and allocation of resources for the final year, together with an assessment of the impact of COVID-19 on the SSDP,” reads a statement issued by 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:14.0pt"><span style="font-family:"Times New Roman",serif"> “We are looking at new modalities and approaches that ensure children continue to learn and at the same time ensure their wellbeing,” the statement quoted Dr Sanjay Sharma, secretary at MoEST as saying. “We expect that education will be a priority sector in the upcoming budget given the COVID-19 pandemic and will look at means to expedite programs and coordinate amongst all levels of government and stakeholders on a national framework that guides safe reopening of schools.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">According to the statement, the review appreciated MoEST’s continued effort to pursue and achieve education objectives under the SSDP, implementing reforms to improve access and the quality of education, and some of the immediate responses to the impact of COVID-19 on the education sector including a scenario based contingency plan to respond to immediate impacts and the initiation of remote teaching-learning programs to ensure that children can continue learning while the schools remain closed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">At the same time, it is expected that the shocks to education from the COVID-19 pandemic </span></span><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">could lead to increased dropout rates, learning loss and heighten the inequality with the most vulnerable students disproportionately bearing the impact of the shock.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">“The COVID-19 pandemic threatens to reverse the progress made to date on Nepal’s education outcomes impacting children and young people, especially the poor and vulnerable,” the statement quoted Faris Hadad-Zervos, country manager of World Bank for Nepal as saying. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The BRM recommended a set of agreed actions to expedite SSDP implementation in the final year under the broader purview of the immediate, medium and long term impacts of the COVID-19 pandemic on the education sector in Nepal.</span></span></span></span></p> <p><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">" Similar to many countries globally, it is likely that we will see the need to periodically close schools to protect the health of the population. I urge the MoEST to ensure that the fiscal year's education budget and work plan incorporate the activities identified in the Education Cluster Contingency plan so that local governments can receive funds and continue to provide access to education during this unprecedented crisis," the statement quoted USAID Acting Mission Director Adriana Hayes as saying.</span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11809', 'image' => '20200522015557_school 2.jpg', 'article_date' => '2020-05-22 01:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 5 => array( 'Article' => array( 'id' => '12058', 'article_category_id' => '1', 'title' => 'A Dozen Projects Proposed for Employment Generation', 'sub_title' => '', 'summary' => 'Rs 200 billion in investment will be needed to generate employment to 3.4 million Nepalis who have lost their jobs in home and abroad due to the COVID-19 pandemic-induced crisis, a study commissioned by the government has found. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">Rs 200 billion in investment will be needed to generate employment to 3.4 million Nepalis who have lost their jobs in home and abroad due to the COVID-19 pandemic-induced crisis, a study commissioned by the government has found. According to the study report prepared by a taskforce formed under the Ministry of Industry, Commerce and Supplies (MoICS), new employment opportunities can be created through 12 currently operational and proposed jobs and entrepreneurship projects. Among the projects proposed by the taskforce, Migrant Workers’ Employment Generation and Livelihood Improvement Project and Level-oriented Entrepreneurship Development Programme are the new projects suggested by the taskforce. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">Besides the projects that are being operated through different ministries and government agencies, operating industrial villages and special economic zones (SEZs) and increasing investment can create 3.394 million new jobs throughout the country, according to the report. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman",serif">The taskforce formed under the coordination of Puspa Raj Shahi, head of Industrial and Investment Promotion Division at MoICS has recommended to start five projects immediately to lower the employment related challenge posed by the imminent return of hundreds of thousand of Nepali migrant workers and high number of domestic job losses. “The projects to provide jobs to the unemployed can be included in the Federal Budget for the upcoming fiscal year 2020/21,” the report suggested. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">According to the report, increasing investments in programmes such as Micro-Entrepreneurship Development Programme (MEDEP), Rural Enterprises and Remittances Project (Samriddhi), Agriculture-based Comprehensive Self-employment Project, </span><span style="font-size:14.0pt">Migrant Workers’ Employment Generation and Livelihood Improvement Project and Level-oriented Entrepreneurship Development Programme</span><span style="font-size:14.0pt"> will enable 2.16 million people to get jobs from the upcoming fiscal year. Among the projects, 2 million people can get employment and entrepreneurship opportunities in Agriculture-based Comprehensive Self-employment Project, the report said. In the report, the taskforce has also recommended consolidation of Prime Minister Agriculture Modernisation Project and other employment generation programmes. Similarly, it has suggested linking agri-business and entrepreneurship by bringing different funds to enable people to access seed capital for starting business. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11808', 'image' => '20200522014514_employment 2.jpg', 'article_date' => '2020-05-22 01:42:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 6 => array( 'Article' => array( 'id' => '12057', 'article_category_id' => '1', 'title' => 'Human Development on Course to Decline for the First Time Since 1990', 'sub_title' => '', 'summary' => 'The COVID-19 pandemic is threatening to undo the three decades of gains made in global human development - which can be measured as a combination of the world’s education, health and living standards – in 2020 for the first time since the introduction of the concept in 190, a new United Nations Development Programme (UNDP) report has warned. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The COVID-19 pandemic is threatening to undo the three decades of gains made in global human development - </span><span style="font-size:14.0pt">which can be measured as a combination of the world’s education, health and living standards – in 2020 for the first time since the introduction of the concept in 190, a new United Nations Development Programme (UNDP) report has warned. In its 2020 Human Development Perspectives titled COVID-19 and Human Development: Assessing the Crisis, Envisioning the Recovery, the UN body has said that declines in fundamental areas of human development are being felt across most countries - rich and poor - in every region. According to the report, the global per capita income this year is expected to fall by four percent. With closure of schools, UNDP estimates that “effective out-of-school rate”—the percentage of primary school-age children, adjusted to reflect those without internet access— 60 percent of children are not getting an education, leading to global levels not seen since the 1980s.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"> “The world has seen many crises over the past 30 years, including the Global Financial Crisis of 2007-09. Each has hit human development hard but, overall, development gains accrued globally year-on-year. COVID-19 – with its triple hit to health, education, and income – may change this trend,” said UNDP Administrator Achim Steiner. According to the report, the combined impact of these shocks could signify the largest reversal in human development on record. “This is not counting other significant effects, for instance, in the progress towards gender equality. The negative impacts on women and girls span economic - earning and saving less and greater job insecurity - reproductive health, unpaid care work and gender-based violence,” the report reads. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">According to UNDP, the drop in human development is expected to be much higher in developing countries that are less able to cope with the pandemic’s social and economic fallout than richer nations. The report stressed on the need for determined, equity-focused interventions to help economies and societies rally, mitigating the far-reaching impacts of the COVID-19 pandemic. “Implementing equity-focused approaches would be affordable. For instance, closing the gap in access to the internet for low- and middle-income countries is estimated to cost just one per cent of the extraordinary fiscal support packages the world has so far committed to respond to COVID-19,” the report stated. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">UNDP has recommended five priority steps to tackle the complexity of this crisis: protecting health systems and services; ramping up social protection; protecting jobs, small- and medium-sized businesses and informal sector workers; making macroeconomic policies work for everyone; and promoting peace, good governance and trust to build social cohesion. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-22', 'modified' => '2020-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '11807', 'image' => '20200522014144_human.jpg', 'article_date' => '2020-05-22 01:38:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '31' ) ), (int) 7 => array( 'Article' => array( 'id' => '12055', 'article_category_id' => '1', 'title' => 'Government in a Fix to Give Continuity to Local Infrastructure Development Programme', 'sub_title' => '', 'summary' => 'May 15: The government is in dilemma on whether or not to give continuity to the much criticized Local Infrastructure Development Partnership Programme in the budget for the upcoming fiscal year 2020/21.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">May 15: The government is in dilemma on whether or not to give continuity to the much criticized Local Infrastructure Development Partnership Programme in the budget for the upcoming fiscal year 2020/21.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">The revenue collection has been weak due to the severe effects of lockdown on economic activities. The government is also facing a huge challenge to invest heavily on health infrastructure and employment programmes with the existing resources. Due to this, the officials at Ministry of Finance are not sure about giving continuity to this program in the upcoming budget.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">According to informed sources, the National Planning Commission has given the nod to the finance ministry to decide on this matter. Most of the members of parliament (MPs) from the ruling party are in favour of giving continuity to the programme. Due to this, the Ministry of Finance also is looking forward to including it in the budget. If the program is included in next year’s budget, the government is likely to allocate less amount of money than in the current fiscal year, said an official at the Ministry of Finance. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">In the current fiscal year, Rs 600 million was provided to each of the directly elected MPs for the infrastructure development programme. In the current fiscal year, around Rs 23 billion has been allocated for the programme. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">“Discussions are underway to allocate less budget for the programme due to limitation in revenue collection,” said a high-ranking official at the Ministry of Finance. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Mangal","serif"">Minister for Finance Yub Raj Khatiwada was not in favour of giving continuity to this programme even for the current fiscal year. This time too, he is not supportive, said sources. However, due to the pressure from the ruling party members, there is high possibility of continuing this programme. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11805', 'image' => '20200515074923_1589492253.jpg', 'article_date' => '2020-05-15 19:48:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 8 => array( 'Article' => array( 'id' => '12054', 'article_category_id' => '1', 'title' => 'Import of Food Grains up Significantly During Lockdown', 'sub_title' => '', 'summary' => 'May 15: The import of food grains has increased drastically in the past seven weeks of lockdown. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri">May 15: The import of food grains has increased drastically in the past seven weeks of lockdown. Data maintained by the Ministry of Industry, Commerce and Supplies indicate that import of food grains has skyrocketed in the last seven weeks since the lockdown started.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">According to a report published by the Ministry of Industry, Commerce and Supplies, altogether 13,343 tons of food grains were imported during the first week of the lockdown. However, the import increased in the second week. Nepal imported 14,643 tons of food grains in the second week of the lockdown. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import amount was up drastically to 31,441 tons in the fifth week. However, the import declined down in the sixth and seventh weeks of the lockdown. The imports declined to 28,526 tons and 25,805 tons, respectively during the sixth and seventh weeks of the lockdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Netra Prasad Subedi, director general of the Department of Supplies informed that the increase in import during the lockdown is normal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">He informed that it was natural for imports to increase as shipments were not affected by the lockdown and stocks of goods in the market were running out.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">Avinash Bohara, central member of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), also expressed similar opinion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">He said that the import increased because consumers stockpiled food products more than required, fearing the possibility of food crisis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">"The increase in imports can also be attributed to the increase in relief programmes," he added.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import of food grains has increased by 93.4 percent and pulses by 26.2 percent in seventh week of the lockdown in comparison to the first week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri">The import of vegetables and fruits also has increased by 25 percent and 61.3 percent respectively. Likewise, import of dairy products inclined up by 514.3 percent during the same period.</span></span></p> <p> </p> <p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11804', 'image' => '20200515035749_hinkstockphotos.jpg', 'article_date' => '2020-05-15 15:57:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 9 => array( 'Article' => array( 'id' => '12053', 'article_category_id' => '1', 'title' => 'Government Tightens Lockdown Measures in the Valley', 'sub_title' => '', 'summary' => 'May 15: The Ministry of Home Affairs has decided to tighten the lockdown measures in the three districts of Kathmandu Valley after new cases of coronavirus were reported in the capital.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times">May 15: The Ministry of Home Affairs has decided to tighten the lockdown measures in the three districts of Kathmandu Valley after new cases of coronavirus were reported in the capital.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">A meeting of the chief district officers of Kathmandu, Bhaktapur and Lalitpur as well as local representatives and security chiefs on Thursday (May 14) decided to adopt strict measures from Friday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Spokesperson at the ministry Kedahnath Sharma informed New Business Age that the districts outside the valley can issue vehicle passes only after consulting the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Recently, three persons who entered the valley from outside tested positive for coronavirus. Those cases were confirmed on Wednesday followed by a new case of infection in a six-year-old girl in the capital a day later. Fearing that the infection could go out of control if adequate measures are not taken, the authorities decided to further tighten the rules.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">After noticing coronavirus infection among people who recently entered the valley from outside districts, the home ministry decided to invalidate all the vehicle passes issued earlier. All such passes have been scrapped, effective from May 14. The meeting also decided to mandatorily perform Rapid Diagnostic Test on any person entering the valley even for emergency purpose. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Times">Likewise, the authorities decided to consider only the passes issued by the concerned authorities as valid for government employees and staffers of banks and financial institutions within the valley.</span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11803', 'image' => '20200515112204_1589465895.jpg', 'article_date' => '2020-05-15 11:21:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 10 => array( 'Article' => array( 'id' => '12052', 'article_category_id' => '1', 'title' => 'COVID-19 Tally Climbs to 258 ', 'sub_title' => '', 'summary' => 'May 15: Nine more people have tested positive for coronavirus, according to the state-run national news agency RSS.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 15: Nine more people have tested positive for coronavirus, according to the state-run national news agency RSS. Those who tested positive on Thursday are from Banke and Makawanpur districts. With this, the number of people infected with COVID-19 has reached to 258, RSS reported citing the Ministry of Health and Population. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to RSS, assistant spokesperson at the ministry Dr Samir Adhikari said the infection was found in nine persons in course of tests carried out on samples collected from different parts of the country. The tests were conducted at the Teku-based National Public Health Laboratory and at the Bheri Hospital, Nepalgunj on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS"">Among the new COVID-19 cases, eight are from Banke and one from Makawanpur. This is the first time that coronavirus infection has been seen in Makwanpur. A 37-year-old male tested positive to the virus in Makawanpur, according to RSS. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Similarly, COVID-19 infection was also found in eight men aged between 18 to 36 of Ward No 1, 3 and 5 of Narainapur Rural Municipality in Banke district. </span><br /> <span style="font-family:"Arial Unicode MS"">Assistant spokesman Dr Adhikari said the health condition of the infected persons is normal and they are under the supervision of health workers. </span></span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11802', 'image' => '20200515110731_Research1.jpg', 'article_date' => '2020-05-15 11:06:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 11 => array( 'Article' => array( 'id' => '12051', 'article_category_id' => '1', 'title' => 'Govt to Announce Policies and Programmes for New Fiscal Year Today', 'sub_title' => '', 'summary' => 'May 15: The policies and programmes of the government for the new fiscal year 2020/21 will be presented in the joint meeting of the federal parliament on Friday (May 15). ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">May 15: The policies and programmes of the government for the new fiscal year 2020/21 will be presented in the joint meeting of the federal parliament on Friday (May 15). </span><br /> <span style="font-family:"Arial Unicode MS"">President Bidya Devi Bhandari will table the policy and programmes of the government in the joint meeting of the House of Representatives (HoR) and National Assembly at 4 pm, according to federal parliament secretariat spokesperson, Dr Rojnath Pandey. </span><br /> <span style="font-family:"Arial Unicode MS"">All the parliamentarians have been asked to attend the meeting and be seated for the meeting by 3:45 pm on Friday. They have been asked to put on decent apparel for the event. </span><br /> <span style="font-family:"Arial Unicode MS"">Spokesperson Pandey shared that all the safety protocols such as physical distancing, usage of safety gears such as mask and sanitization among others have been observed in the meeting hall to prevent the spread of the COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS"">There are 275 members in HoR and 59 in National Assembly. A total of 29 distinguished guests have been invited at the event including the President, the Vice-President, chiefs of the constitutional bodies and chiefs of security agencies among others. </span><br /> <span style="font-family:"Arial Unicode MS"">The heads of the foreign diplomatic missions as well as private sectors have not been invited this year in view of the prospect of COVID-19 transmission. </span><br /> <span style="font-family:"Arial Unicode MS"">The Nepal Communist Party-led government is going to launch the policies and porgrammes for the third time. Economic growth will be high in priority in the policies and programmes to be launched and implemented in the new fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">Furthermore, the policies and programmes of the government will also incorporate programmes that will address the issues emanated from the COVID-19. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2020-05-15', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11801', 'image' => '20200515110029_1589464915.jpg', 'article_date' => '2020-05-15 10:59:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 12 => array( 'Article' => array( 'id' => '12048', 'article_category_id' => '1', 'title' => 'India Bans Palm Oil from Nepal Again', 'sub_title' => '', 'summary' => 'May 13: India has once again banned the import of refined palm oil from Nepal. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">May 13: India has once again banned the import of refined palm oil from Nepal. Nepalese industries have not been able to export the product after India’s Foreign Trade Directorate imposed the ban effective from Tuesday (May 12). </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">The directorate issued a circular to its subordinate bodies on Monday to halt the import of palm oil.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:Arial">Earlier, India had imposed a similar ban on January 8 for about one and a half months. India eased the restriction to some extent in late February, allowing some of its companies to import refined palm oil from Nepal. But again, India banned the product citing SAFTA regulation, which requires certificate of origin of the product. In the circular, the directorate has ordered all the customs offices to seek the certificate of origin of palm oil from Nepali and Bangladeshi companies as the two countries are signatories to the SAFTA (South Asian Free Trade Agreement). </span></span></span></p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '11800', 'image' => '20200513101938_1589322001.jpg', 'article_date' => '2020-05-13 10:18:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 13 => array( 'Article' => array( 'id' => '12050', 'article_category_id' => '1', 'title' => 'Nepal’s Tourism Industry set to Lose 30,000 Indian Pilgrims', 'sub_title' => '', 'summary' => 'May 13: The construction of a road inside Nepali territory in Lipulek by India has not only sent ripples across the political circle but also in the tourism sector.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">May 13: The construction of a road inside Nepali territory in Lipulek by India has not only sent ripples across the political circle but also in the tourism sector. The tourism industry is likely to bear huge losses due to the construction of the vital road that links India with Mansarowar, a polgirmage site in Tibet.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">So far, most of the Indian tourists have been visiting the holy site through Nepal. Although it is possible to reach Mansarowar from India’s Sikkim, pilgrims from India prefer to visit the lake through Nepal due to convenience. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">Generally, Indian pilgrims visit Mansarovar between May to September. However, China has banned the visit this year due to the COVID-19 pandemic. Next year, it is very much likely that Indian pilgrims will use the new route constructed by India by encroaching Nepal’s territory. This means, the tourism industry of Nepal will lose billions of rupees as well as employment. Hotel entrepreneurs who have invested heavily in Nepalgunj and Humla targeting Indian tourists will have to suffer great losses as well. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Times"><span style="font-family:"Arial Unicode MS"">The new route opened by India last week is the shortest distance to Mansarowar. The pilgrimage site is just 100 kilometers from Lipulek while it is 110 kilometers from Hilsa of Humla. Tourism entrepreneurs say they are likely to loose 30,000 Indian pilgrims annually.</span></span></span></p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-13', 'keywords' => '', 'description' => '', 'sortorder' => '11799', 'image' => '20200513104548_1589238047.jpg', 'article_date' => '2020-05-13 10:45:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '12049', 'article_category_id' => '1', 'title' => 'Increase in Digital Transaction during Lockdown', 'sub_title' => '', 'summary' => 'May 13: Digital transaction has been experiencing a surge during the lockdown imposed to control the spread of Covid-19. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">May 13: Digital transaction has been experiencing a surge during the lockdown imposed to control the spread of Covid-19. Banks and Financial Institution (BFIs) have also been focusing on digital banking. Recently, the number of customers using services like internet banking, debit, credit cards and pre-paid services has reached 10 million.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">According to the data from Nepal Rastra Bank (NRB), there are around 31.01 million deposit accounts. Among them most of them use mobile banking. Among the total depositors, 98,06,237 users use mobile banking. Around 72,15,646 depositors use debit card. Similarly, 9,69,055 customers use internet banking. Likewise, 1,46,856 users use credit card and 63,775 customer use pre-paid card. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Due to the pandemic, almost all services except emergency ones are closed. All the banks of Nepal haven’t charged any fee for any kind of digital transaction during the lockdown. The customers have been using digital method to pay for money transfer, mobile top-up, drinking water, electricity and internet bill. Mobile banking and internet banking system have been attracting more customers. Also, digital wallets including e-Sewa, Khalti, IME Pay have been making the payment process more convenient. Recently, people have also been doing various transaction from Connect IPS. This shows that the digital platform have potential to put an end to the use of cheque or paper money. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank has been stressing on the need of investing in technology.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">NRB has been spending several millions annually on printing new notes. Maximum use of digital payment method will allow the country to use the printed notes for long time. So, Nepal Bankers Association has suggested in the pre-budget report that 80 percent of transaction must be digital. According to Bhuwan Kumar Dahal, president of Nepal Bankers’ Association, they have suggested NRB to focus on developing cashless transaction. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">Banking Expert Sanjeev Subba also stresses on the necessity of going into cashless transaction. He said that there are still several challenges when talking about expanding the usage of digital payment method throughout the country. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""><span style="font-family:"Arial Unicode MS"">“Despite the digital facilities, people still prefer to sit in queue for exchanging cheque and to deposit money. This shows that banking system in Nepal still relies on cash,” Subba said. The system is such that we still need to use paper to open bank account, exchange foreign notes and many other bank transactions. In the global scene, customers don’t get cheque and use ATM very less. For Nepal, there are still many hindrances to go into full-fledged digital banking. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-05-13', 'modified' => '2020-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '11798', 'image' => '20200513103350_SO2.jpg', 'article_date' => '2020-05-13 10:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '20' ) ) ) $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
