NEWS

Nepal's Credit Rating not Possible before Investment Summit

Mar 27, 2024 0 2 minutes 50 seconds to read

March 27: The government's initiative to complete Nepal's credit rating before the investment summit in April is unlikely to be…

Nepal in AIIB’s ‘Priority’ List for Investment

Mar 27, 2024 0 2 minutes 48 seconds to read

March 26: The Asian Infrastructure Investment Bank (AIIB) has said it accords top priority to…

Weather to Remain Cloudy for Three more Days, Rainfall Expected in Western Nepal

Mar 27, 2024 0 1 minutes 9 seconds to read

March 27: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has predicted light rain along with lightning for the next three days in the hill regions of Koshi, Bagmati and Gandaki provinces.…

Shree Airlines Adds Two More Aircraft to its Fleet

Mar 26, 2024 0 1 minutes 26 seconds to read

March 26: Shree Airlines has added two more 80-seater aircraft to its fleet.…

Decline in Renewal of Insurance Policies Impacts Business of Life Insurance Companies

Mar 26, 2024 0 1 minutes 12 seconds to read

March 26: The business of life insurance companies has decreased in mid-February to mid-March of the current fiscal…

NPC Issues Guidelines to Discourage Inclusion of Random Plans in Budget

Mar 26, 2024 0 2 minutes 18 seconds to read

March 26: The National Planning Commission (NPC) has prohibited the government from including random plans in the budget.…

First-phase Construction of Asian Highway Begins

Mar 26, 2024 0 1 minutes 47 seconds to read

March 26: The first-phase of construction of the Asian Highway connecting 32 countries in the continent has started in Nepal.…

Possibility of Load Shedding from Next Week

Mar 26, 2024 0 3 minutes 19 seconds to read

March 26: India’s hesitation to renew the agreement to allow Nepal to purchase electricity from its electricity trading market (Indian Energy Exchange) has heightened the risk of load shedding in Nepal from next…

Government Starts Issuing Climbing Permits for Spring Expedition

Mar 26, 2024 0 1 minutes 3 seconds to read

March 26: The Department of Tourism has started issuing mountaineering permits for spring mountaineering season.…

Court Acquits Cricketers in Match-Fixing Case

Mar 26, 2024 0 1 minutes 18 seconds to read

March 26: The Kathmandu District Court has acquitted five people, including cricketer Adil Ansari and former national cricket player Mahaboob Alam, who were accused of match-fixing.…

PM urges AIIB for Concessional Loan to Nepal

Mar 26, 2024 0 1 minutes 47 seconds to read

March 26: Prime Minister Pushpa Kamal Dahal has urged the Asian Infrastructure Investment Bank (AIIB) to ensure a policy for providing concessional loan to Nepal.…

Tea Export Plan to China in Peril

Mar 25, 2024 0 3 minutes 32 seconds to read

March 25: It has been more than a century and a half since Nepal started cultivation of…

Number of People Living in their Own Houses Decreasing

Mar 25, 2024 0 2 minutes 9 seconds to read

March 25: The percentage of the population living in their own houses in the country has decreased, according to the latest data of the…

National Natural Resources and Fiscal Commission Recommends Fiscal Equalization Grant for Provinces

Mar 25, 2024 0 1 minutes 30 seconds to read

March 25: The National Natural Resources and Fiscal Commission has recommended the government to allocate fiscal equalization grant worth Rs 60 billion to the provinces and Rs 88 billion to the local levels for the upcoming fiscal year.…

UN General Assembly adopts Resolution for Safe, Secure and Trustworthy AI

Mar 25, 2024 0 2 minutes 47 seconds to read

…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

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NEPSE

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		'Article' => array(
			'id' => '20583',
			'article_category_id' => '1',
			'title' => 'Nepal's Credit Rating not Possible before Investment Summit',
			'sub_title' => '',
			'summary' => 'March 27: The government's initiative to complete Nepal's credit rating before the investment summit in April is unlikely to be fulfilled.',
			'content' => '<p><span style="font-size:18px">March 27: The government&#39;s initiative to complete Nepal&#39;s credit rating before the investment summit in April is unlikely to be fulfilled. Nepal&#39;s sovereign credit rating has not been done until now. The government is preparing to undertake the country&rsquo;s sovereign credit rating through the American credit rating company Fitch Rating with a grant assistance from the British government. </span></p>

<p><span style="font-size:18px">Experts say that the sovereign rating helps to depict the real economic and financial situation of Nepal and helps international investors get a clear picture of the investment environment of the country and the prospects of returns. Stakeholders have been urging for sovereign rating saying that the absence of the rating has hugely impacted foreign direct investment (FDI) prospects of Nepal. </span></p>

<p><span style="font-size:18px">The government was hopeful that the positive outcome of the rating can attract investors who attend the upcoming investment summit. </span></p>

<p><span style="font-size:18px">&quot;The rating work has not been started due to the lack of clarity on the scope of work between the British aid agency (Foreign Commonwealth and Development Office), which provides us with grants, and the Standard Chartered Bank, which provides technical support to it,&quot; Dhaniram Sharma, spokesperson for the Ministry of Finance, told New Business Age, adding, &ldquo;Therefore, the country rating is not possible before the investment summit scheduled for late April.&rdquo; </span></p>

<p><span style="font-size:18px">He said that the Government of Nepal is coordinating to forge an understanding between these two organizations. According to Sharma, Fitch Ratings is going to underake the country rating of Nepal with grant assistance from the British aid agency. </span></p>

<p><span style="font-size:18px">&quot;Fitch Ratings has pledged to prepare its report within three months after starting the work,&quot; said Sharma. Since the work has not started yet, the possibility of getting the report before the investment summit is not possible. </span></p>

<p><span style="font-size:18px">The government has announced that the investment summit will be held on April 28-29.</span></p>

<p><span style="font-size:18px">The government had mentioned in the budget announcement five years ago that it will opt for the country&rsquo;s sovereign credit rating. It took almost a year to find the donor for the rating. The government handed over the responsibility of rating to Fitch Ratings after DFIF pledged to financially support the credit rating of Nepal. </span></p>

<p><span style="font-size:18px">However, the credit rating was halted due to the onset of the coronavirus pandemic the same year as the government was apprehensive that the credit rating outcome would not be as expected due to the impact of the pandemic. </span></p>

<p><span style="font-size:18px">&quot;The government had to take measures to control imports due to problems such as a decrease in foreign exchange reserves and lack of liquidity in in the banking system,&quot; said Sharma, &quot;There was no particular benefit to the country by credit rating in such a situation.&quot; </span></p>

<p><span style="font-size:18px">Now the economy seems to have revived to some extent. As the government is preparing to hold the investment summit, it is trying to advance the work of country rating again.</span></p>
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			'image' => '20240327115633_20240125023341_fitch-ratings-1671551049.jpg',
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			'id' => '20582',
			'article_category_id' => '1',
			'title' => 'Nepal in AIIB’s ‘Priority’ List for Investment',
			'sub_title' => '',
			'summary' => 'March 26: The Asian Infrastructure Investment Bank (AIIB) has said it accords top priority to Nepal.',
			'content' => '<p><span style="font-size:18px">March 26: The Asian Infrastructure Investment Bank (AIIB) has said it accords top priority to Nepal. A visiting high-level delegation from the AIIB said this during a meeting with Finance Minister Barshaman Pun, according to the Minister&#39;s Secretariat. </span></p>

<p><span style="font-size:18px">On the occasion, Finance Minister Pun urged the AIIB for scaling up its investment in Nepal&#39;s infrastructure development and other projects. In reply, AIIB Director RMP Rathnayake, who leads the delegation, praised Nepal&#39;s endeavours for investment policy reforms and for their enhancement. He pledged to adopt a policy of increasing investment in Nepal in the days to come on the basis of the availability of resources. </span></p>

<p><span style="font-size:18px">The minister also urged the AIIB for a partnership with Nepal&#39;s private sector as per its policy of mobilizing its 50 percent capital in partnership with the private sector. In response, the delegation chief suggested about the possibility for the collaboration with Nepal&#39;s private sector by selecting multi-year projects. </span></p>

<p><span style="font-size:18px">On the occasion, the finance minister invited the AIIB to the Third Nepal Investment Summit that Nepal is scheduled to host on April 28-29. Director Rathnayake said a high-level participation will be there from the AIIB in the Summit. </span></p>

<p><span style="font-size:18px">The minister utilised the meeting to call on the AIIB for ensuring provisions to provide a concessional loan to Nepal and middle-income developing countries. He informed the delegation that Nepal has been deprived of leveraging expected benefits from the AIIB due to its relatively high interest rates. </span></p>

<p><span style="font-size:18px">&quot;Despite being the AIIB&rsquo;s founding member, Nepal has failed to take expected benefits from its investments due to the high interest rate,&quot; he said. </span></p>

<p><span style="font-size:18px">Stating that multiple projects of infrastructure development are to be carried out in Nepal, he insisted on concessions on AIIB borrowings to Nepal. The finance minister said that the government accords top priority to the infrastructure development and it is required to source out the funds due to its limited internal resources. </span></p>

<p><span style="font-size:18px">The minister advised the AIIB to invest in Nepal&#39;s infrastructure development, hydroelectricity, tourism and information technology sectors, and the areas of relative benefits.</span></p>

<p><span style="font-size:18px">He apprised the delegation that Nepal has signed an agreement with India to supply 10,000 megawatts of electricity and added that there is no market issue for power to be generated in Nepal. Likewise, as per the power trade agreement between Nepal and Bangladesh, Nepal will be soon exporting 40 megawatts of electricity to Bangladesh. </span></p>

<p><span style="font-size:18px">Sharing about the Nepal&#39;s process to graduate from the least developed country to a developing country by 2026, the minister sought diversifications of AIIB investment in Nepal. Similarly, stating about Nepal&#39;s plan to mobilise the climate change finance in Nepal&#39;s development projects, he also urged for the AIIB support towards that end. </span></p>

<p><span style="font-size:18px">The AIIB has invested USD 40 million in the under-construction 216-MW Upper Trishuli-1 hydroelectricity project. It has also invested in some under-construction transmission lines in Lumbini and Karnali provinces. -- RSS</span></p>
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			'id' => '20581',
			'article_category_id' => '1',
			'title' => 'Weather to Remain Cloudy for Three more Days, Rainfall Expected in Western Nepal    ',
			'sub_title' => '',
			'summary' => 'March 27: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has predicted light rain along with lightning for the next three days in the hill regions of Koshi, Bagmati and Gandaki provinces. ',
			'content' => '<p><span style="font-size:18px">March 27: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has predicted light rain along with lightning for the next three days in the hill regions of Koshi, Bagmati and Gandaki provinces. </span></p>

<p><span style="font-size:18px">According to the division, there is a possibility of rainfall in the hill areas of the far-western and mid-western regions from today. Meteorologist Saroj Pudasaini said there is a possibility of rain in the hill regions of different provinces and snowfall in the high hills and mountainous areas. </span></p>

<p><span style="font-size:18px">&quot;The influence of westerly wind and local wind in Nepal has resulted in partly cloudy weather in the hill areas of the country including Koshi province,&quot; he said, adding, &quot;Although there had been rainfall in the eastern parts of the country recently, the western region was yet to experience rainfall in the past few days. Now, the rainfall is shifting towards the western parts of Nepal.&quot; </span></p>

<p><span style="font-size:18px">According to the division, light rainfall with thunder and lightning is likely to occur at a few places of the hill regions of Koshi, Bagmati and Gandaki provinces and at one or two places of the Madhes province and the rest of the hill regions in next 24 hours. -- RSS</span></p>
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			'article_date' => '2024-03-27 10:48:49',
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		'Article' => array(
			'id' => '20580',
			'article_category_id' => '1',
			'title' => 'Shree Airlines Adds Two More Aircraft to its Fleet',
			'sub_title' => '',
			'summary' => 'March 26: Shree Airlines has added two more 80-seater aircraft to its fleet. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">March 26: Shree Airlines has added two more 80-seater aircraft to its fleet. The private sector airlines company has brought the &#39;Dash 8&#39; planes manufactured by De Havilland Aircraft of Canada Limited (DHC).&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The two aircraft with call sign 9N-AOK and 9N-AOL respectively landed in Kathmandu on Tuesday, said Anil Mananadhar, the manager of Shree Airlines. These aircraft were operated by Horizon Air and Alaska Air based in America before this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Manandhar said both the planes will be used for commercial flights soon after completing the processes required by the Civil Aviation Authority of Nepal (CAAN).</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">With the new addition, Shree Airlines now has a fleet of 10 aircraft. It also has eight helicopters in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Shree Airlines started operating regular flights to various destinations in Nepal in 2017, using two 50-seater CRJ 200 aircraft and two 70-seater RJ 700 jet planes. The airlines company that brought additional two 80-seater aircraft in 2019 and again in 2022 has been expanding its flight destinations.</span> -- <span style="font-size:14.0pt">RSS</span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2024-03-26',
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			'description' => '',
			'sortorder' => '20307',
			'image' => '20240326071401_67174585_2331425296894015_8605165911831216128_n.jpg',
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		'Article' => array(
			'id' => '20579',
			'article_category_id' => '1',
			'title' => 'Decline in Renewal of Insurance Policies Impacts Business of Life Insurance Companies ',
			'sub_title' => '',
			'summary' => 'March 26: The business of life insurance companies has decreased in mid-February to mid-March of the current fiscal year.',
			'content' => '<p><span style="font-size:18px">March 26: The business of life insurance companies has decreased in mid-February to mid-March of the current fiscal year.</span></p>

<p><span style="font-size:18px">Although the collection of first-time insurance fee increased in the review month, the overall business declined due to the decline in renewal of insurance policies. According to the Nepal Insurance Authority, 14 life insurance companies collected insurance fees of Rs 11.65 billion from the sale of new insurance policies and the renewal of old policies in mid-February to mid-March. </span></p>

<p><span style="font-size:18px">Compared to the previous one-month period, collection of insurance fees of the life insurance companies decreased by about Rs 1 billion. In mid-January to mid-February, the insurance companies had collected Rs 12.66 billion in insurance fees. </span></p>

<p><span style="font-size:18px">In mid-February to mid-March, life insurance companies issued a total of 415,676 insurance policies and collected Rs 2.55 billion as first-time insurance fee. Similarly, the authority said that the companies collected insurance fee of Rs 9.95 billion from the renewal of insurance policies. </span></p>

<p><span style="font-size:18px">In mid-January to mid-February, the insurance companies had issued a total of 448,000 insurance policies and collected Rs 2.29 billion as the first-time insurance fee. Similarly, they collected insurance fee of Rs 10.36 billion from renewal. Nepal Life Insurance Company collected the highest insurance fee in mid-February to mid-March. The company collected Rs 3.9 billion in the review month.</span></p>
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			'sortorder' => '20306',
			'image' => '20240326110912_INSURANCE-COVERAGE.jpg',
			'article_date' => '2024-03-26 11:08:02',
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	(int) 5 => array(
		'Article' => array(
			'id' => '20578',
			'article_category_id' => '1',
			'title' => 'NPC Issues Guidelines to Discourage Inclusion of Random Plans in Budget',
			'sub_title' => '',
			'summary' => 'March 26: The National Planning Commission (NPC) has prohibited the government from including random plans in the budget. ',
			'content' => '<p><span style="font-size:18px">March 26: The National Planning Commission (NPC) has prohibited the government from including random plans in the budget. </span></p>

<p><span style="font-size:18px">While the government is doing its homework to issue the budget for the upcoming fiscal year, the NPC has had made it clear that the projects that are not included in the National Project Bank will not be included in the budget.</span></p>

<p><span style="font-size:18px">In the past, the budget implementation used to be affected due to due to pressure and influence from the ward chairmen to the parliament to include projects of vested interests in the budget. </span></p>

<p><span style="font-size:18px">This time, the National Planning Commission has taken strict measures to eliminate the past practice of haphazard planning. After realizing that the inclusion of small and petty plans in the budget without proper study caused problems in implementation of such plans every year, the National Planning Commission issued guidelines and frameworks for the upcoming budget and has made strict provisions not to include such plans in the budget.</span></p>

<p><span style="font-size:18px">As per the Financial Procedures and Financial Responsibility Regulations, the NPC has asked all central agencies to send details of the annual budget and program and medium-term expenditure structure only by entering the details of the project in the National Project Bank by themselves or through their subordinate offices or projects. </span></p>

<p><span style="font-size:18px">There is a clear provision in the guidelines that no budget can be allocated for projects that are not included in the National Project Bank. From now onwards, the government officials who are engaged in the preparation of the budget will not be allowed to allocate the budget for the plans that have not been entered in the National Project Bank. </span></p>

<p><span style="font-size:18px">Dhaniram Sharma, joint secretary of the Ministry of Finance, said that the new guidelines have discouraged the practice of randomly recommending plans in the budget. </span></p>

<p><span style="font-size:18px">For programs and projects that are implemented with the cooperation and coordination of more than one federal ministry or agency, the National Planning Commission has made guidelines so that the programs can only be proposed through coordination and cooperation of all related agencies. Ministries will have to propose budgets by prioritizing programs and projects that can be completed within the first quarter of the year. </span></p>

<p><span style="font-size:18px">The NPC has asked the ministries to be realistic on the annual plan and to propose the budget so that there is no need to revise the program in the middle of the year.</span></p>
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			'sortorder' => '20305',
			'image' => '20240326110745_budget.jpg',
			'article_date' => '2024-03-26 11:06:21',
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	(int) 6 => array(
		'Article' => array(
			'id' => '20577',
			'article_category_id' => '1',
			'title' => 'First-phase Construction of Asian Highway Begins',
			'sub_title' => '',
			'summary' => 'March 26: The first-phase of construction of the Asian Highway connecting 32 countries in the continent has started in Nepal. ',
			'content' => '<p><span style="font-size:18px">March 26: The first-phase of construction of the Asian Highway connecting 32 countries in the continent has started in Nepal. </span></p>

<p><span style="font-size:18px">Under this project, a 120-kilometer four-lane road from Kakarvitta to Laukahi of Sunsari is being constructed in the first phase with the financial support of the Asian Development Bank, the state-owned RSS reported. </span></p>

<p><span style="font-size:18px">The government has handed the responsibility of the construction work to Jain CR F G Tundi Company. The company has started removing trees from Sitapuri of Kamal rural municipality in Jhapa district to Devikhola of Itahari. </span></p>

<p><span style="font-size:18px">Hari Prasad Parajuli, a representative of the construction company, said that around 6,737 trees would be removed along this section. He told RSS that the company has reached an agreement with the government to complete the road construction within three years. </span></p>

<p><span style="font-size:18px">The 120-km-long four-lane roadway falls under a section of the East-West Highway and it connects Jhapa, Morang and Sunsari. It is being constructed at an investment of Rs 28.17 billion from the Asian Development Bank. The highway is to be expanded along with the construction of 71 new bridges, added Parajuli. </span></p>

<p><span style="font-size:18px">The Asian Highway project was initiated by the United Nations in 1959 with the aim of promoting the development of international road transport in the region. During the first phase of the project (1960&ndash;1970) considerable progress was achieved, however, progress slowed down when financial assistance was suspended in 1975. </span></p>

<p><span style="font-size:18px">Altogether 32 countries have signed agreements to allow the highway to cross the continent and also reach to Europe. Some of the countries taking part in the highway project are India, Sri Lanka, Pakistan, China, Iran, Japan, South Korea, Nepal and Bangladesh. </span></p>

<p><span style="font-size:18px">Most of the funding comes from the larger, more advanced Asian nations such as China, South Korea and Singapore as well as international agencies such as the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB).</span></p>
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			'id' => '20576',
			'article_category_id' => '1',
			'title' => 'Possibility of Load Shedding from Next Week',
			'sub_title' => '',
			'summary' => 'March 26: India’s hesitation to renew the agreement to allow Nepal to purchase electricity from its electricity trading market (Indian Energy Exchange) has heightened the risk of load shedding in Nepal from next week.',
			'content' => '<p><span style="font-size:18px">March 26: India&rsquo;s hesitation to renew the agreement to allow Nepal to purchase electricity from its electricity trading market (Indian Energy Exchange) has heightened the risk of load shedding in Nepal from next week. </span></p>

<p><span style="font-size:18px">According to the Nepal Electricity Authority (NEA), the contract, which has to be renewed every year, is expiring on March 31. Officials of the NEA say that even though Nepal has been urging India for renewal of the contract since the last three months, the concerned bodies of India have not shown any interest for renewal.</span></p>

<p><span style="font-size:18px">&quot;Indian officials have hinted verbally that the contract cannot be renewed under the pretext of the upcoming Lok Sabha elections in India,&quot; said a high-ranking source at the NEA on condition of anonymity. </span></p>

<p><span style="font-size:18px">According to the official, it will be challenging for the NEA to manage electricity for the next one and a half months as Nepal&#39;s domestic electricity production will not increase until mid-May.</span></p>

<p><span style="font-size:18px">&quot;India had not delayed the renewal of contract in the past,&quot; said the source. India gave the permission to Nepal to import electricity from the Indian Energy Exchange for the first time in March 2021. </span></p>

<p><span style="font-size:18px">According to the agreement, Nepal can import electricity through Dhalkebar-Muzaffarpur International Transmission Line and Mahendranagar-Tanakpur International Transmission Line. </span></p>

<p><span style="font-size:18px">Officials of the NEA said that although India had been renewing the contract without any issues in the past, this year it has indicated that it cannot be renewed on the pretext of elections. In India, the Lok Sabha elections are being held in different stages for 6 weeks starting from April 17. </span></p>

<p><span style="font-size:18px">&quot;There is a state of confusion due to non-renewal of the agreement,&quot; Chandan Kumar Ghosh, spokesperson for the NEA, told New Business Age, &quot;But we are hopeful, India will renew the agreement because providing electricity to Nepal will not affect the availability of electricity in India.&rdquo; </span></p>

<p><span style="font-size:18px">According to him, if the contract is not renewed, there will be a situation where electricity supply to the households and industries will have to be halted. </span></p>

<p><span style="font-size:18px">According to the NEA, it imports about 600 MW of electricity from India in winter. This is about one third of the demand. According to the authority, the peak hour demand has now reached 1,885 MW. </span></p>

<p><span style="font-size:18px">&quot;If one-third of the demand of electricity is not available, there will be a situation of load shedding,&quot; said Ghosh. In such a situation, he indicated that industrial customers may experience power cuts more than household consumers. When there is a shortage of electricity, the authority gives priority to domestic customers. </span></p>

<p><span style="font-size:18px">Although Nepal sells surplus electricity to India during the rainy season, it has to import electricity from India in the winter to meet the domestic demand. Most of the hydropower projects in Nepal are run-of-the-river type. Such projects produce only one-third of their capacity in winter. </span></p>

<p><span style="font-size:18px">Although India has indicated that it will not renew the agreement due the Lok Sabha elections, it is speculated that India&rsquo;s reluctance to renew the agreement may be the result of New Delhi&#39;s dissatisfaction with the latest change in the power equation of Nepal. The Indian media and analysts have been saying that the coalition government of the CPN (UML) and CPN (Maoist Center) was instigated by China. Prime Minister Pushpa Kamal Dahal broke the alliance with the Nepali Congress on March 7 and formed a new alliance with the UML and other fringe parties.</span></p>
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		'Article' => array(
			'id' => '20575',
			'article_category_id' => '1',
			'title' => 'Government Starts Issuing Climbing Permits for Spring Expedition',
			'sub_title' => '',
			'summary' => 'March 26: The Department of Tourism has started issuing mountaineering permits for spring mountaineering season.    ',
			'content' => '<p><span style="font-size:18px">March 26: The Department of Tourism has started issuing mountaineering permits for spring mountaineering season. </span></p>

<p><span style="font-size:18px">A total of 33 people have already taken permission to climb four different mountains this season, said Director of Adventure Tourism and Mountaineering Branch of the department, Rakesh Gurung. </span></p>

<p><span style="font-size:18px">Among them, 24 climbers have obtained permits to climb Mt Annapurna, three for Mt Ama Dablam, five for Himlung, and one for Jugal. The department will start issuing climbing permits for the world&#39;s highest peak, Mount Everest, from Tuesday.</span></p>

<p><span style="font-size:18px">According to the department, arrangements have been made for mountaineers to make online bookings for climbing. </span></p>

<p><span style="font-size:18px">Spring is considered the ideal season for climbing mountains, especially Mt Everest. The government charges higher fees during the spring season. As per the department, a tourist has to pay USD 11,000 per person to climb Mount Everest.</span></p>

<p><span style="font-size:18px">Last year, the government had collected over Rs 474.6 million in revenue from more than 900 climbers from different countries. Altogether 414 mountains and peaks of Nepal are open for expedition. <em>(With inputs from RSS)</em></span></p>
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			'description' => '',
			'sortorder' => '20302',
			'image' => '20240326095408_20240325094813_20220516042550_expedition-in-nepal.jpg',
			'article_date' => '2024-03-26 09:52:27',
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	(int) 9 => array(
		'Article' => array(
			'id' => '20574',
			'article_category_id' => '1',
			'title' => 'Court Acquits Cricketers in Match-Fixing Case',
			'sub_title' => '',
			'summary' => 'March 26: The Kathmandu District Court has acquitted five people, including cricketer Adil Ansari and former national cricket player Mahaboob Alam, who were accused of match-fixing.     ',
			'content' => '<p><span style="font-size:18px">March 26: The Kathmandu District Court has acquitted five people, including cricketer Adil Ansari and former national cricket player Mahaboob Alam, who were accused of match-fixing. A bench of Judge Kamal Prasad Pokharel on Monday acquitted five people held on the charge of match fixing, arguing that the petitioners&rsquo; claim was not sufficient to prove them guilty. </span></p>

<p><span style="font-size:18px">According to Chandra Prasad Panthi, information officer of the District Court, Kathmandu, the court acquitted the five persons after the claims made by the government against them could not be substantiated. The Central Investigation Bureau (CIB) of Nepal Police had arrested cricketers Mahabub Alam and Mohammad Adil Ansari on charge of spot fixing and match fixing on January 23 last year. They were later released on a bail of Rs 300,000 each. </span></p>

<p><span style="font-size:18px">The franchise-club based T-20 league was held at the TU cricket ground in Kirtipur from December 24, 2022 to January 11, 2023. The match was organized by Cricket Association of Nepal (CAN) in strategic and commercial partnership with India&#39;s Seven3 Sports Pvt. Ltd. </span></p>

<p><span style="font-size:18px">The CIB had submitted its investigation report to the Office of the District Attorney in mid-February last year recommended action against 12 people involved in the spot fixing and match fixing scam. The 12 people, including the two cricketers, recommended for prosecution were accused of helping to alter the results of the match, indulging in match fixing and inciting others to be involved in the illegal act.</span></p>
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			'description' => '',
			'sortorder' => '20301',
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			'article_date' => '2024-03-26 09:14:56',
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	(int) 10 => array(
		'Article' => array(
			'id' => '20573',
			'article_category_id' => '1',
			'title' => 'PM urges AIIB for Concessional Loan to Nepal ',
			'sub_title' => '',
			'summary' => 'March 26: Prime Minister Pushpa Kamal Dahal has urged the Asian Infrastructure Investment Bank (AIIB) to ensure a policy for providing concessional loan to Nepal. ',
			'content' => '<p><span style="font-size:18px">March 26: Prime Minister Pushpa Kamal Dahal has urged the Asian Infrastructure Investment Bank (AIIB) to ensure a policy for providing concessional loan to Nepal. </span></p>

<p><span style="font-size:18px">During a courtesy meeting with a delegation led by RMP Rathnayake, the AIIB director, Prime Minister Dahal said, &quot;Nepal still needs concessions in borrowings. In fact, this market rate pricing is restricting Nepal to access to AIIB financing. As you are policy makers, I urge you all to consider about this.&quot; </span></p>

<p><span style="font-size:18px">Stating the government is focused on achieving a high economic growth target simultaneously with good governance, institutional development, social justice and prosperity, the prime minister said, Nepal is expecting for the AIIB&#39;s support in financing, technical assistance, knowledge sharing and mobilizing private capital. </span></p>

<p><span style="font-size:18px">The PM said currently there are a few projects under AIIB investment in Nepal in the energy sector and there are ample possibilities for investment in hydropower, tourism, information technology and other infrastructure projects. He urged the AIIB to consider for the investment in these areas. </span></p>

<p><span style="font-size:18px">&quot;Nepal has reached an agreement to export 10,000 megawatts of electricity to India and to Bangladesh as well. This has paved the way for Nepal&#39;s energy trade,&quot; he said. Recalling about the Nepal&#39;s schedule to host the Third Nepal Investment Summit next month (April 28-29), the prime minister expressed his hope that there would a high-level participation from the AIIB in the event, contributing to building an investment-friendly atmosphere for areas of priorities in Nepal. </span></p>

<p><span style="font-size:18px">He also appraised the delegation that Nepal has revised its policies aiming to promote private and foreign investment and urged the AIIB to investment confidently in Nepal. The delegation led by Rathnayake comprised AIIB vice president and other senior officials. On the occasion, Rathnayake said AIIB accords top priority to Nepal as its founding member and the bank is positive for increasing its investment in its development endeavors. -- RSS</span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '20569',
			'article_category_id' => '1',
			'title' => 'Tea Export Plan to China in Peril ',
			'sub_title' => '',
			'summary' => 'March 25: It has been more than a century and a half since Nepal started cultivation of tea.',
			'content' => '<p><span style="font-size:18px">March 25: It has been more than a century and a half since Nepal started cultivation of tea. The tea produced here is also exported to foreign countries. </span></p>

<p><span style="font-size:18px">However, Nepali tea producers have to rely on the Indian market for export. </span></p>

<p><span style="font-size:18px">Although the Government of Nepal planned to export tea to China to diversify the tea market and break the monopoly of the Indian market, the plan has failed to materialize. Since the government&rsquo;s plan could not be materialized, Nepal&rsquo;s tea market has not been able to expand due to its dependence on India. </span></p>

<p><span style="font-size:18px">According to the National Tea and Coffee Development Board, tea produced in Nepal is exported to 38 countries in the world including China, America, Europe through some private companies. However, stakeholders say that it is not enough to break the monopoly of the Indian market. </span></p>

<p><span style="font-size:18px">They have recommended the government to take a G2G (Government-to-Government) initiative. </span></p>

<p><span style="font-size:18px">The board&rsquo;s Director Dr Deepak Khanal said that although tea production has improved a lot compared to the past, Nepal has not made satisfactory progress in its efforts to expand the market. </span></p>

<p><span style="font-size:18px">According to him, even now the biggest problem of Nepal&rsquo;s tea industry is the lack of market and monopoly of Indian market. He argues that the export of only 15 percent to European and American markets, apart from India, confirms that Nepali tea has not yet found a market. </span></p>

<p><span style="font-size:18px">According to him, the export of tea to countries other than India is possible through the personal relationship of businessmen. </span></p>

<p><span style="font-size:18px">According to the data of the board, Nepal exported 12,496 metric tons of tea worth Rs 3.43 billion in the fiscal year 2078/79. Out of that volume, 12, 096 metric tons of tea worth Rs 3.05 billion were exported to the Indian market. Nepalese CTC and orthodox tea are being exported to some states of India including West Bengal. Nepal produces more than 26,300 metric tons of annually on of 20,200 hectares of land. It includes 6,500 metric tons of orthodox tea. </span></p>

<p><span style="font-size:18px">&ldquo;We planned to export to China two years ago through the G2G process to break the monopoly of the Indian market, but it has been stalled for now,&#39;&#39; Khanal told New Business Age. He said that the plan stalled because the government did not take diplomatic initiatives to export tea through the G2G process. </span></p>

<p><span style="font-size:18px">Khanal says that Nepali tea, which is sold at Rs 650 per kg in the Indian market, can be sold for as high as Rs 3700 if it is delivered to China. </span></p>

<p><span style="font-size:18px">Chairman of Gorkha Tea State Pvt. Ltd. Uday Chapagain says that the government should open the Chinese market as soon as possible to eliminate Nepal&rsquo;s dependence on India for the tea market. </span></p>

<p><span style="font-size:18px">According to him, in order to expand the market of Nepali tea in countries other than India, it is also necessary to spread the message of quality products without chemical pesticides to the farmers. </span></p>

<p><span style="font-size:18px"><strong>100 Tons Order from China</strong> </span></p>

<p><span style="font-size:18px">Meanwhile, in a recent news published by the state-owned news agency RSS, it is mentioned that the Chinese businessmen who visited the tea plantations and industries of Ilam have ordered more than 100 metric tons of tea. Chinese tea traders had reached there a few days ago on the initiative of Ilam Municipality and Ilam Chamber of Commerce and Industry. </span></p>

<p><span style="font-size:18px">Tea businessman Chiran Dahal reportedly coordinated to bring the Chinese tea traders. On that occasion, Dahal said that there was a discussion between Chinese businessmen and local tea businessmen and farmers about the purchase of tea and the possibility of exporting tea to China.</span></p>
',
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			'created' => '2024-03-25',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '20296',
			'image' => '20240325020040_Tea.jpg',
			'article_date' => '2024-03-25 13:57:27',
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	(int) 12 => array(
		'Article' => array(
			'id' => '20568',
			'article_category_id' => '1',
			'title' => 'Number of People Living in their Own Houses Decreasing',
			'sub_title' => '',
			'summary' => 'March 25: The percentage of the population living in their own houses in the country has decreased, according to the latest data of the government.',
			'content' => '<p><span style="font-size:18px">March 25: The percentage of the population living in their own houses in the country has decreased, according to the latest data of the government. The National Census 2078 report shows that 86 percent of the families in Nepal live in their own houses. </span></p>

<p><span style="font-size:18px">The census report under the heading of Housing and Household Dynamics in Nepal, which was published by the National Statistics Office a few days ago, shows that the number of families living in their own houses at present is less than the figures compared to 30 years ago. </span></p>

<p><span style="font-size:18px">According to the office, the number of families having their own houses was 92.6 percent in 2048 BS. By 2078 BS, it has decreased to 86 percent. There has been an increase in the number of families living on rent in the last 30 years. </span></p>

<p><span style="font-size:18px">In 2048 BS, the number of families living on rent was 4.7 percent, but by 2078 BS, the number of such families has reached 12.8 percent. This number has been stable for the last one decade. Even in 2068, the number of families living on rent was 12.8 percent. </span></p>

<p><span style="font-size:18px">According to the office, the number of families living on rent in the municipality is 18 percent. Similarly, data shows that 81 percent of the families in the municipality are living in their own houses/apartments. Most of the families living in the municipality have their own house/accommodation. </span></p>

<p><span style="font-size:18px">Meanwhile, 97 percent of the families living in the villages own their own houses. The office has also published the number of families living on rent in the provinces. The number of families living on rent is high in Bagmati Province, while it is lowest in Madhesh Province. </span></p>

<p><span style="font-size:18px">According to the office, the number of families living on rent in Madhesh Province is 2.3 percent. According to this data, more people are living on rent in the valley due to the services and facilities centered in the federal capital Kathmandu as well as opportunities from higher education and health facilities. </span></p>

<p><span style="font-size:18px">District-wise, the number of people living in their own houses in Kathmandu is 43 percent. Recently, the number of people living in concrete houses has also increased. This is seen when comparing the data from 2058 BS and 2078 BS. According to the office, the number of families with concrete residential houses in 2058 was 36.6 percent. By 2078, it has increased to 76.5 percent.</span></p>
',
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			'created' => '2024-03-25',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '20295',
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	(int) 13 => array(
		'Article' => array(
			'id' => '20567',
			'article_category_id' => '1',
			'title' => 'National Natural Resources and Fiscal Commission Recommends Fiscal Equalization Grant for Provinces',
			'sub_title' => '',
			'summary' => 'March 25: The National Natural Resources and Fiscal Commission has recommended the government to allocate fiscal equalization grant worth Rs 60 billion to the provinces and Rs 88 billion to the local levels for the upcoming fiscal year. ',
			'content' => '<p><span style="font-size:16px">March 25: The National Natural Resources and Fiscal Commission has recommended the government to allocate fiscal equalization grant worth Rs 60 billion to the provinces and Rs 88 billion to the local levels for the upcoming fiscal year. The recommendation was based on the provisions of minimum grants, formula-based grants, and performance-based grants. </span></p>

<p><span style="font-size:16px">The grant is to be sourced from the Federal Consolidated Fund. The constitutional provision mandates that the necessity of expenditures and revenue capacity of provincial governments and local levels be assessed while allocating fiscal equalization grants from the Federal Consolidated Fund. </span></p>

<p><span style="font-size:16px">Out of the total Rs 60 billion of the fiscal equalization grant that has been recommended for the provinces in the upcoming fiscal year, the minimum equalization grant is equivalent to Rs 15 billion, the formula-based equalization grant is equivalent to Rs 42.6 billion and the grant given on the basis of performance is equivalent to Rs 2.40 billion. </span></p>

<p><span style="font-size:16px">The commission has recommended providing Rs 8. 94 billion to Koshi Province, Rs 7. 79 billion to the Madhesh Province, Rs 8.24 billion to Bagmati Province and Rs 7.63 billion to Gandaki province. Similarly, the commission has recommended providing Rs 8.28 billion to Lumbini Province, Rs 10.36 billion to Karnali Province and Rs 8.72 billion to Sudurpaschim province as the fiscal equalization grant. </span></p>

<p><span style="font-size:16px">Likewise, the commission has also recommended the federal government to provide Rs 88 billion as the fiscal equalization grant to the local levels in the next fiscal year. The recommended minimum equalization grant to the local levels for the next fiscal year is Rs 26.68 billion, the formula-based equalization grant is Rs 57.79 billion and the grant to be provided based on performance is Rs 3.52 billion. -- RSS</span></p>
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			'image' => '20240325011445_20230706113816_grant-writing.jpg',
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	(int) 14 => array(
		'Article' => array(
			'id' => '20566',
			'article_category_id' => '1',
			'title' => 'UN General Assembly adopts Resolution for Safe, Secure and Trustworthy AI ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:16px">March 25: The seventy-eighth session of the United Nations General Assembly (UNGA) has adopted a resolution on artificial intelligence seeking its &#39;safe, secure and trustworthy&#39; promotion. The UNGA on March 21 adopted the significant resolution, recognizing proliferation of AI and its impact on achievement of SDGs and seeking global consensus for safe, secure and trustworthy AI. </span></p>

<p><span style="font-size:16px">According to the document, the safe, secure and trustworthy AI systems are human centric which fully respect, promote and protect human rights and international law, maintain privacy, enable progress towards to SDGs and sustainable development in three fronts- economic, social and environment. Similarly, it promotes peace and digital divide within and among countries, the resolution mentioned. </span></p>

<p><span style="font-size:16px">The resolution underlines, &quot;AI systems in the non-military domain, whose life cycle includes the stages: pre-design, design, development, evaluation, testing, deployment, use, sale, procurement, operation and decommissioning, are such that they are human-centric, reliable, explainable, ethical, inclusive, in full respect, promotion and protection of human rights and international law.&quot; </span></p>

<p><span style="font-size:16px">The UN has called upon the member states and invited stakeholders to take action for cooperation and extend assistance to the developing countries so that they could be ensured with inclusive and equitable access to reap benefit from digital transformation and AI system. The UN member states are encouraged to prepare policies and regulation to foster competition in safe, secure and trustworthy AI system and technologies associated to it. </span></p>

<p><span style="font-size:16px">Moreover, it has attached significance on continuation of debates on unfolding incidents and updates relating to the governance of AI in order for the international approaches to be abreast with evolution of AI systems and their uses. </span></p>

<p><span style="font-size:16px">The document read, &quot;It encourages continued efforts by the international community to promote inclusive research, mapping and analysis that benefit all parties on the potential impacts and applications that artificial intelligence systems and rapid technological change can have in the development of existing and new and emerging technologies and on accelerating the achievement of all 17 Sustainable Development Goals, and to inform how to develop, promote and implement effective, internationally interoperable safeguards, practices, standards and tools for artificial intelligence designers, developers, evaluators, deployers, users and other stakeholders for safe, secure and trustworthy artificial intelligence systems&quot;. </span></p>

<p><span style="font-size:16px">The member states are further called upon to close gender digital divide. They are called to &quot;adopt specific measures to close the gender digital divide and to ensure that particular attention is paid to access, affordability, digital literacy, privacy and online safety, to enhance the use of digital technologies, including artificial intelligence systems, and to mainstream a disability, gender and racial equality perspective in policy decisions and the frameworks that guide them&quot;. </span></p>

<p><span style="font-size:16px">In this regard, the UN News wrote: Ms Thomas-Greenfield, the US Ambassador and Permanent Representative to the UN, who introduced the draft resolution, highlighted the opportunity and the responsibility of the international community &ldquo;to govern this technology rather than let it govern us&rdquo;. While adopting the resolution, the UNGA reaffirmed international law, Charter of the UN and recollected UDHR. -- RSS</span></p>
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			'id' => '20583',
			'article_category_id' => '1',
			'title' => 'Nepal's Credit Rating not Possible before Investment Summit',
			'sub_title' => '',
			'summary' => 'March 27: The government's initiative to complete Nepal's credit rating before the investment summit in April is unlikely to be fulfilled.',
			'content' => '<p><span style="font-size:18px">March 27: The government&#39;s initiative to complete Nepal&#39;s credit rating before the investment summit in April is unlikely to be fulfilled. Nepal&#39;s sovereign credit rating has not been done until now. The government is preparing to undertake the country&rsquo;s sovereign credit rating through the American credit rating company Fitch Rating with a grant assistance from the British government. </span></p>

<p><span style="font-size:18px">Experts say that the sovereign rating helps to depict the real economic and financial situation of Nepal and helps international investors get a clear picture of the investment environment of the country and the prospects of returns. Stakeholders have been urging for sovereign rating saying that the absence of the rating has hugely impacted foreign direct investment (FDI) prospects of Nepal. </span></p>

<p><span style="font-size:18px">The government was hopeful that the positive outcome of the rating can attract investors who attend the upcoming investment summit. </span></p>

<p><span style="font-size:18px">&quot;The rating work has not been started due to the lack of clarity on the scope of work between the British aid agency (Foreign Commonwealth and Development Office), which provides us with grants, and the Standard Chartered Bank, which provides technical support to it,&quot; Dhaniram Sharma, spokesperson for the Ministry of Finance, told New Business Age, adding, &ldquo;Therefore, the country rating is not possible before the investment summit scheduled for late April.&rdquo; </span></p>

<p><span style="font-size:18px">He said that the Government of Nepal is coordinating to forge an understanding between these two organizations. According to Sharma, Fitch Ratings is going to underake the country rating of Nepal with grant assistance from the British aid agency. </span></p>

<p><span style="font-size:18px">&quot;Fitch Ratings has pledged to prepare its report within three months after starting the work,&quot; said Sharma. Since the work has not started yet, the possibility of getting the report before the investment summit is not possible. </span></p>

<p><span style="font-size:18px">The government has announced that the investment summit will be held on April 28-29.</span></p>

<p><span style="font-size:18px">The government had mentioned in the budget announcement five years ago that it will opt for the country&rsquo;s sovereign credit rating. It took almost a year to find the donor for the rating. The government handed over the responsibility of rating to Fitch Ratings after DFIF pledged to financially support the credit rating of Nepal. </span></p>

<p><span style="font-size:18px">However, the credit rating was halted due to the onset of the coronavirus pandemic the same year as the government was apprehensive that the credit rating outcome would not be as expected due to the impact of the pandemic. </span></p>

<p><span style="font-size:18px">&quot;The government had to take measures to control imports due to problems such as a decrease in foreign exchange reserves and lack of liquidity in in the banking system,&quot; said Sharma, &quot;There was no particular benefit to the country by credit rating in such a situation.&quot; </span></p>

<p><span style="font-size:18px">Now the economy seems to have revived to some extent. As the government is preparing to hold the investment summit, it is trying to advance the work of country rating again.</span></p>
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			'created' => '2024-03-27',
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			'description' => '',
			'sortorder' => '20310',
			'image' => '20240327115633_20240125023341_fitch-ratings-1671551049.jpg',
			'article_date' => '2024-03-27 11:53:46',
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		'Article' => array(
			'id' => '20582',
			'article_category_id' => '1',
			'title' => 'Nepal in AIIB’s ‘Priority’ List for Investment',
			'sub_title' => '',
			'summary' => 'March 26: The Asian Infrastructure Investment Bank (AIIB) has said it accords top priority to Nepal.',
			'content' => '<p><span style="font-size:18px">March 26: The Asian Infrastructure Investment Bank (AIIB) has said it accords top priority to Nepal. A visiting high-level delegation from the AIIB said this during a meeting with Finance Minister Barshaman Pun, according to the Minister&#39;s Secretariat. </span></p>

<p><span style="font-size:18px">On the occasion, Finance Minister Pun urged the AIIB for scaling up its investment in Nepal&#39;s infrastructure development and other projects. In reply, AIIB Director RMP Rathnayake, who leads the delegation, praised Nepal&#39;s endeavours for investment policy reforms and for their enhancement. He pledged to adopt a policy of increasing investment in Nepal in the days to come on the basis of the availability of resources. </span></p>

<p><span style="font-size:18px">The minister also urged the AIIB for a partnership with Nepal&#39;s private sector as per its policy of mobilizing its 50 percent capital in partnership with the private sector. In response, the delegation chief suggested about the possibility for the collaboration with Nepal&#39;s private sector by selecting multi-year projects. </span></p>

<p><span style="font-size:18px">On the occasion, the finance minister invited the AIIB to the Third Nepal Investment Summit that Nepal is scheduled to host on April 28-29. Director Rathnayake said a high-level participation will be there from the AIIB in the Summit. </span></p>

<p><span style="font-size:18px">The minister utilised the meeting to call on the AIIB for ensuring provisions to provide a concessional loan to Nepal and middle-income developing countries. He informed the delegation that Nepal has been deprived of leveraging expected benefits from the AIIB due to its relatively high interest rates. </span></p>

<p><span style="font-size:18px">&quot;Despite being the AIIB&rsquo;s founding member, Nepal has failed to take expected benefits from its investments due to the high interest rate,&quot; he said. </span></p>

<p><span style="font-size:18px">Stating that multiple projects of infrastructure development are to be carried out in Nepal, he insisted on concessions on AIIB borrowings to Nepal. The finance minister said that the government accords top priority to the infrastructure development and it is required to source out the funds due to its limited internal resources. </span></p>

<p><span style="font-size:18px">The minister advised the AIIB to invest in Nepal&#39;s infrastructure development, hydroelectricity, tourism and information technology sectors, and the areas of relative benefits.</span></p>

<p><span style="font-size:18px">He apprised the delegation that Nepal has signed an agreement with India to supply 10,000 megawatts of electricity and added that there is no market issue for power to be generated in Nepal. Likewise, as per the power trade agreement between Nepal and Bangladesh, Nepal will be soon exporting 40 megawatts of electricity to Bangladesh. </span></p>

<p><span style="font-size:18px">Sharing about the Nepal&#39;s process to graduate from the least developed country to a developing country by 2026, the minister sought diversifications of AIIB investment in Nepal. Similarly, stating about Nepal&#39;s plan to mobilise the climate change finance in Nepal&#39;s development projects, he also urged for the AIIB support towards that end. </span></p>

<p><span style="font-size:18px">The AIIB has invested USD 40 million in the under-construction 216-MW Upper Trishuli-1 hydroelectricity project. It has also invested in some under-construction transmission lines in Lumbini and Karnali provinces. -- RSS</span></p>
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			'sortorder' => '20309',
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			'article_date' => '2024-03-27 11:15:41',
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		'Article' => array(
			'id' => '20581',
			'article_category_id' => '1',
			'title' => 'Weather to Remain Cloudy for Three more Days, Rainfall Expected in Western Nepal    ',
			'sub_title' => '',
			'summary' => 'March 27: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has predicted light rain along with lightning for the next three days in the hill regions of Koshi, Bagmati and Gandaki provinces. ',
			'content' => '<p><span style="font-size:18px">March 27: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has predicted light rain along with lightning for the next three days in the hill regions of Koshi, Bagmati and Gandaki provinces. </span></p>

<p><span style="font-size:18px">According to the division, there is a possibility of rainfall in the hill areas of the far-western and mid-western regions from today. Meteorologist Saroj Pudasaini said there is a possibility of rain in the hill regions of different provinces and snowfall in the high hills and mountainous areas. </span></p>

<p><span style="font-size:18px">&quot;The influence of westerly wind and local wind in Nepal has resulted in partly cloudy weather in the hill areas of the country including Koshi province,&quot; he said, adding, &quot;Although there had been rainfall in the eastern parts of the country recently, the western region was yet to experience rainfall in the past few days. Now, the rainfall is shifting towards the western parts of Nepal.&quot; </span></p>

<p><span style="font-size:18px">According to the division, light rainfall with thunder and lightning is likely to occur at a few places of the hill regions of Koshi, Bagmati and Gandaki provinces and at one or two places of the Madhes province and the rest of the hill regions in next 24 hours. -- RSS</span></p>
',
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			'description' => '',
			'sortorder' => '20308',
			'image' => '20240327104953_sno.jpg',
			'article_date' => '2024-03-27 10:48:49',
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		'Article' => array(
			'id' => '20580',
			'article_category_id' => '1',
			'title' => 'Shree Airlines Adds Two More Aircraft to its Fleet',
			'sub_title' => '',
			'summary' => 'March 26: Shree Airlines has added two more 80-seater aircraft to its fleet. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">March 26: Shree Airlines has added two more 80-seater aircraft to its fleet. The private sector airlines company has brought the &#39;Dash 8&#39; planes manufactured by De Havilland Aircraft of Canada Limited (DHC).&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The two aircraft with call sign 9N-AOK and 9N-AOL respectively landed in Kathmandu on Tuesday, said Anil Mananadhar, the manager of Shree Airlines. These aircraft were operated by Horizon Air and Alaska Air based in America before this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Manandhar said both the planes will be used for commercial flights soon after completing the processes required by the Civil Aviation Authority of Nepal (CAAN).</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">With the new addition, Shree Airlines now has a fleet of 10 aircraft. It also has eight helicopters in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Shree Airlines started operating regular flights to various destinations in Nepal in 2017, using two 50-seater CRJ 200 aircraft and two 70-seater RJ 700 jet planes. The airlines company that brought additional two 80-seater aircraft in 2019 and again in 2022 has been expanding its flight destinations.</span> -- <span style="font-size:14.0pt">RSS</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-03-26',
			'modified' => '2024-03-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20307',
			'image' => '20240326071401_67174585_2331425296894015_8605165911831216128_n.jpg',
			'article_date' => '2024-03-26 19:12:59',
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		'Article' => array(
			'id' => '20579',
			'article_category_id' => '1',
			'title' => 'Decline in Renewal of Insurance Policies Impacts Business of Life Insurance Companies ',
			'sub_title' => '',
			'summary' => 'March 26: The business of life insurance companies has decreased in mid-February to mid-March of the current fiscal year.',
			'content' => '<p><span style="font-size:18px">March 26: The business of life insurance companies has decreased in mid-February to mid-March of the current fiscal year.</span></p>

<p><span style="font-size:18px">Although the collection of first-time insurance fee increased in the review month, the overall business declined due to the decline in renewal of insurance policies. According to the Nepal Insurance Authority, 14 life insurance companies collected insurance fees of Rs 11.65 billion from the sale of new insurance policies and the renewal of old policies in mid-February to mid-March. </span></p>

<p><span style="font-size:18px">Compared to the previous one-month period, collection of insurance fees of the life insurance companies decreased by about Rs 1 billion. In mid-January to mid-February, the insurance companies had collected Rs 12.66 billion in insurance fees. </span></p>

<p><span style="font-size:18px">In mid-February to mid-March, life insurance companies issued a total of 415,676 insurance policies and collected Rs 2.55 billion as first-time insurance fee. Similarly, the authority said that the companies collected insurance fee of Rs 9.95 billion from the renewal of insurance policies. </span></p>

<p><span style="font-size:18px">In mid-January to mid-February, the insurance companies had issued a total of 448,000 insurance policies and collected Rs 2.29 billion as the first-time insurance fee. Similarly, they collected insurance fee of Rs 10.36 billion from renewal. Nepal Life Insurance Company collected the highest insurance fee in mid-February to mid-March. The company collected Rs 3.9 billion in the review month.</span></p>
',
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			'created' => '2024-03-26',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '20306',
			'image' => '20240326110912_INSURANCE-COVERAGE.jpg',
			'article_date' => '2024-03-26 11:08:02',
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		'Article' => array(
			'id' => '20578',
			'article_category_id' => '1',
			'title' => 'NPC Issues Guidelines to Discourage Inclusion of Random Plans in Budget',
			'sub_title' => '',
			'summary' => 'March 26: The National Planning Commission (NPC) has prohibited the government from including random plans in the budget. ',
			'content' => '<p><span style="font-size:18px">March 26: The National Planning Commission (NPC) has prohibited the government from including random plans in the budget. </span></p>

<p><span style="font-size:18px">While the government is doing its homework to issue the budget for the upcoming fiscal year, the NPC has had made it clear that the projects that are not included in the National Project Bank will not be included in the budget.</span></p>

<p><span style="font-size:18px">In the past, the budget implementation used to be affected due to due to pressure and influence from the ward chairmen to the parliament to include projects of vested interests in the budget. </span></p>

<p><span style="font-size:18px">This time, the National Planning Commission has taken strict measures to eliminate the past practice of haphazard planning. After realizing that the inclusion of small and petty plans in the budget without proper study caused problems in implementation of such plans every year, the National Planning Commission issued guidelines and frameworks for the upcoming budget and has made strict provisions not to include such plans in the budget.</span></p>

<p><span style="font-size:18px">As per the Financial Procedures and Financial Responsibility Regulations, the NPC has asked all central agencies to send details of the annual budget and program and medium-term expenditure structure only by entering the details of the project in the National Project Bank by themselves or through their subordinate offices or projects. </span></p>

<p><span style="font-size:18px">There is a clear provision in the guidelines that no budget can be allocated for projects that are not included in the National Project Bank. From now onwards, the government officials who are engaged in the preparation of the budget will not be allowed to allocate the budget for the plans that have not been entered in the National Project Bank. </span></p>

<p><span style="font-size:18px">Dhaniram Sharma, joint secretary of the Ministry of Finance, said that the new guidelines have discouraged the practice of randomly recommending plans in the budget. </span></p>

<p><span style="font-size:18px">For programs and projects that are implemented with the cooperation and coordination of more than one federal ministry or agency, the National Planning Commission has made guidelines so that the programs can only be proposed through coordination and cooperation of all related agencies. Ministries will have to propose budgets by prioritizing programs and projects that can be completed within the first quarter of the year. </span></p>

<p><span style="font-size:18px">The NPC has asked the ministries to be realistic on the annual plan and to propose the budget so that there is no need to revise the program in the middle of the year.</span></p>
',
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			'description' => '',
			'sortorder' => '20305',
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			'article_date' => '2024-03-26 11:06:21',
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	(int) 6 => array(
		'Article' => array(
			'id' => '20577',
			'article_category_id' => '1',
			'title' => 'First-phase Construction of Asian Highway Begins',
			'sub_title' => '',
			'summary' => 'March 26: The first-phase of construction of the Asian Highway connecting 32 countries in the continent has started in Nepal. ',
			'content' => '<p><span style="font-size:18px">March 26: The first-phase of construction of the Asian Highway connecting 32 countries in the continent has started in Nepal. </span></p>

<p><span style="font-size:18px">Under this project, a 120-kilometer four-lane road from Kakarvitta to Laukahi of Sunsari is being constructed in the first phase with the financial support of the Asian Development Bank, the state-owned RSS reported. </span></p>

<p><span style="font-size:18px">The government has handed the responsibility of the construction work to Jain CR F G Tundi Company. The company has started removing trees from Sitapuri of Kamal rural municipality in Jhapa district to Devikhola of Itahari. </span></p>

<p><span style="font-size:18px">Hari Prasad Parajuli, a representative of the construction company, said that around 6,737 trees would be removed along this section. He told RSS that the company has reached an agreement with the government to complete the road construction within three years. </span></p>

<p><span style="font-size:18px">The 120-km-long four-lane roadway falls under a section of the East-West Highway and it connects Jhapa, Morang and Sunsari. It is being constructed at an investment of Rs 28.17 billion from the Asian Development Bank. The highway is to be expanded along with the construction of 71 new bridges, added Parajuli. </span></p>

<p><span style="font-size:18px">The Asian Highway project was initiated by the United Nations in 1959 with the aim of promoting the development of international road transport in the region. During the first phase of the project (1960&ndash;1970) considerable progress was achieved, however, progress slowed down when financial assistance was suspended in 1975. </span></p>

<p><span style="font-size:18px">Altogether 32 countries have signed agreements to allow the highway to cross the continent and also reach to Europe. Some of the countries taking part in the highway project are India, Sri Lanka, Pakistan, China, Iran, Japan, South Korea, Nepal and Bangladesh. </span></p>

<p><span style="font-size:18px">Most of the funding comes from the larger, more advanced Asian nations such as China, South Korea and Singapore as well as international agencies such as the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB).</span></p>
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		'Article' => array(
			'id' => '20576',
			'article_category_id' => '1',
			'title' => 'Possibility of Load Shedding from Next Week',
			'sub_title' => '',
			'summary' => 'March 26: India’s hesitation to renew the agreement to allow Nepal to purchase electricity from its electricity trading market (Indian Energy Exchange) has heightened the risk of load shedding in Nepal from next week.',
			'content' => '<p><span style="font-size:18px">March 26: India&rsquo;s hesitation to renew the agreement to allow Nepal to purchase electricity from its electricity trading market (Indian Energy Exchange) has heightened the risk of load shedding in Nepal from next week. </span></p>

<p><span style="font-size:18px">According to the Nepal Electricity Authority (NEA), the contract, which has to be renewed every year, is expiring on March 31. Officials of the NEA say that even though Nepal has been urging India for renewal of the contract since the last three months, the concerned bodies of India have not shown any interest for renewal.</span></p>

<p><span style="font-size:18px">&quot;Indian officials have hinted verbally that the contract cannot be renewed under the pretext of the upcoming Lok Sabha elections in India,&quot; said a high-ranking source at the NEA on condition of anonymity. </span></p>

<p><span style="font-size:18px">According to the official, it will be challenging for the NEA to manage electricity for the next one and a half months as Nepal&#39;s domestic electricity production will not increase until mid-May.</span></p>

<p><span style="font-size:18px">&quot;India had not delayed the renewal of contract in the past,&quot; said the source. India gave the permission to Nepal to import electricity from the Indian Energy Exchange for the first time in March 2021. </span></p>

<p><span style="font-size:18px">According to the agreement, Nepal can import electricity through Dhalkebar-Muzaffarpur International Transmission Line and Mahendranagar-Tanakpur International Transmission Line. </span></p>

<p><span style="font-size:18px">Officials of the NEA said that although India had been renewing the contract without any issues in the past, this year it has indicated that it cannot be renewed on the pretext of elections. In India, the Lok Sabha elections are being held in different stages for 6 weeks starting from April 17. </span></p>

<p><span style="font-size:18px">&quot;There is a state of confusion due to non-renewal of the agreement,&quot; Chandan Kumar Ghosh, spokesperson for the NEA, told New Business Age, &quot;But we are hopeful, India will renew the agreement because providing electricity to Nepal will not affect the availability of electricity in India.&rdquo; </span></p>

<p><span style="font-size:18px">According to him, if the contract is not renewed, there will be a situation where electricity supply to the households and industries will have to be halted. </span></p>

<p><span style="font-size:18px">According to the NEA, it imports about 600 MW of electricity from India in winter. This is about one third of the demand. According to the authority, the peak hour demand has now reached 1,885 MW. </span></p>

<p><span style="font-size:18px">&quot;If one-third of the demand of electricity is not available, there will be a situation of load shedding,&quot; said Ghosh. In such a situation, he indicated that industrial customers may experience power cuts more than household consumers. When there is a shortage of electricity, the authority gives priority to domestic customers. </span></p>

<p><span style="font-size:18px">Although Nepal sells surplus electricity to India during the rainy season, it has to import electricity from India in the winter to meet the domestic demand. Most of the hydropower projects in Nepal are run-of-the-river type. Such projects produce only one-third of their capacity in winter. </span></p>

<p><span style="font-size:18px">Although India has indicated that it will not renew the agreement due the Lok Sabha elections, it is speculated that India&rsquo;s reluctance to renew the agreement may be the result of New Delhi&#39;s dissatisfaction with the latest change in the power equation of Nepal. The Indian media and analysts have been saying that the coalition government of the CPN (UML) and CPN (Maoist Center) was instigated by China. Prime Minister Pushpa Kamal Dahal broke the alliance with the Nepali Congress on March 7 and formed a new alliance with the UML and other fringe parties.</span></p>
',
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			'sortorder' => '20303',
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		'Article' => array(
			'id' => '20575',
			'article_category_id' => '1',
			'title' => 'Government Starts Issuing Climbing Permits for Spring Expedition',
			'sub_title' => '',
			'summary' => 'March 26: The Department of Tourism has started issuing mountaineering permits for spring mountaineering season.    ',
			'content' => '<p><span style="font-size:18px">March 26: The Department of Tourism has started issuing mountaineering permits for spring mountaineering season. </span></p>

<p><span style="font-size:18px">A total of 33 people have already taken permission to climb four different mountains this season, said Director of Adventure Tourism and Mountaineering Branch of the department, Rakesh Gurung. </span></p>

<p><span style="font-size:18px">Among them, 24 climbers have obtained permits to climb Mt Annapurna, three for Mt Ama Dablam, five for Himlung, and one for Jugal. The department will start issuing climbing permits for the world&#39;s highest peak, Mount Everest, from Tuesday.</span></p>

<p><span style="font-size:18px">According to the department, arrangements have been made for mountaineers to make online bookings for climbing. </span></p>

<p><span style="font-size:18px">Spring is considered the ideal season for climbing mountains, especially Mt Everest. The government charges higher fees during the spring season. As per the department, a tourist has to pay USD 11,000 per person to climb Mount Everest.</span></p>

<p><span style="font-size:18px">Last year, the government had collected over Rs 474.6 million in revenue from more than 900 climbers from different countries. Altogether 414 mountains and peaks of Nepal are open for expedition. <em>(With inputs from RSS)</em></span></p>
',
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			'sortorder' => '20302',
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		'Article' => array(
			'id' => '20574',
			'article_category_id' => '1',
			'title' => 'Court Acquits Cricketers in Match-Fixing Case',
			'sub_title' => '',
			'summary' => 'March 26: The Kathmandu District Court has acquitted five people, including cricketer Adil Ansari and former national cricket player Mahaboob Alam, who were accused of match-fixing.     ',
			'content' => '<p><span style="font-size:18px">March 26: The Kathmandu District Court has acquitted five people, including cricketer Adil Ansari and former national cricket player Mahaboob Alam, who were accused of match-fixing. A bench of Judge Kamal Prasad Pokharel on Monday acquitted five people held on the charge of match fixing, arguing that the petitioners&rsquo; claim was not sufficient to prove them guilty. </span></p>

<p><span style="font-size:18px">According to Chandra Prasad Panthi, information officer of the District Court, Kathmandu, the court acquitted the five persons after the claims made by the government against them could not be substantiated. The Central Investigation Bureau (CIB) of Nepal Police had arrested cricketers Mahabub Alam and Mohammad Adil Ansari on charge of spot fixing and match fixing on January 23 last year. They were later released on a bail of Rs 300,000 each. </span></p>

<p><span style="font-size:18px">The franchise-club based T-20 league was held at the TU cricket ground in Kirtipur from December 24, 2022 to January 11, 2023. The match was organized by Cricket Association of Nepal (CAN) in strategic and commercial partnership with India&#39;s Seven3 Sports Pvt. Ltd. </span></p>

<p><span style="font-size:18px">The CIB had submitted its investigation report to the Office of the District Attorney in mid-February last year recommended action against 12 people involved in the spot fixing and match fixing scam. The 12 people, including the two cricketers, recommended for prosecution were accused of helping to alter the results of the match, indulging in match fixing and inciting others to be involved in the illegal act.</span></p>
',
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			'description' => '',
			'sortorder' => '20301',
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			'article_date' => '2024-03-26 09:14:56',
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	(int) 10 => array(
		'Article' => array(
			'id' => '20573',
			'article_category_id' => '1',
			'title' => 'PM urges AIIB for Concessional Loan to Nepal ',
			'sub_title' => '',
			'summary' => 'March 26: Prime Minister Pushpa Kamal Dahal has urged the Asian Infrastructure Investment Bank (AIIB) to ensure a policy for providing concessional loan to Nepal. ',
			'content' => '<p><span style="font-size:18px">March 26: Prime Minister Pushpa Kamal Dahal has urged the Asian Infrastructure Investment Bank (AIIB) to ensure a policy for providing concessional loan to Nepal. </span></p>

<p><span style="font-size:18px">During a courtesy meeting with a delegation led by RMP Rathnayake, the AIIB director, Prime Minister Dahal said, &quot;Nepal still needs concessions in borrowings. In fact, this market rate pricing is restricting Nepal to access to AIIB financing. As you are policy makers, I urge you all to consider about this.&quot; </span></p>

<p><span style="font-size:18px">Stating the government is focused on achieving a high economic growth target simultaneously with good governance, institutional development, social justice and prosperity, the prime minister said, Nepal is expecting for the AIIB&#39;s support in financing, technical assistance, knowledge sharing and mobilizing private capital. </span></p>

<p><span style="font-size:18px">The PM said currently there are a few projects under AIIB investment in Nepal in the energy sector and there are ample possibilities for investment in hydropower, tourism, information technology and other infrastructure projects. He urged the AIIB to consider for the investment in these areas. </span></p>

<p><span style="font-size:18px">&quot;Nepal has reached an agreement to export 10,000 megawatts of electricity to India and to Bangladesh as well. This has paved the way for Nepal&#39;s energy trade,&quot; he said. Recalling about the Nepal&#39;s schedule to host the Third Nepal Investment Summit next month (April 28-29), the prime minister expressed his hope that there would a high-level participation from the AIIB in the event, contributing to building an investment-friendly atmosphere for areas of priorities in Nepal. </span></p>

<p><span style="font-size:18px">He also appraised the delegation that Nepal has revised its policies aiming to promote private and foreign investment and urged the AIIB to investment confidently in Nepal. The delegation led by Rathnayake comprised AIIB vice president and other senior officials. On the occasion, Rathnayake said AIIB accords top priority to Nepal as its founding member and the bank is positive for increasing its investment in its development endeavors. -- RSS</span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '20569',
			'article_category_id' => '1',
			'title' => 'Tea Export Plan to China in Peril ',
			'sub_title' => '',
			'summary' => 'March 25: It has been more than a century and a half since Nepal started cultivation of tea.',
			'content' => '<p><span style="font-size:18px">March 25: It has been more than a century and a half since Nepal started cultivation of tea. The tea produced here is also exported to foreign countries. </span></p>

<p><span style="font-size:18px">However, Nepali tea producers have to rely on the Indian market for export. </span></p>

<p><span style="font-size:18px">Although the Government of Nepal planned to export tea to China to diversify the tea market and break the monopoly of the Indian market, the plan has failed to materialize. Since the government&rsquo;s plan could not be materialized, Nepal&rsquo;s tea market has not been able to expand due to its dependence on India. </span></p>

<p><span style="font-size:18px">According to the National Tea and Coffee Development Board, tea produced in Nepal is exported to 38 countries in the world including China, America, Europe through some private companies. However, stakeholders say that it is not enough to break the monopoly of the Indian market. </span></p>

<p><span style="font-size:18px">They have recommended the government to take a G2G (Government-to-Government) initiative. </span></p>

<p><span style="font-size:18px">The board&rsquo;s Director Dr Deepak Khanal said that although tea production has improved a lot compared to the past, Nepal has not made satisfactory progress in its efforts to expand the market. </span></p>

<p><span style="font-size:18px">According to him, even now the biggest problem of Nepal&rsquo;s tea industry is the lack of market and monopoly of Indian market. He argues that the export of only 15 percent to European and American markets, apart from India, confirms that Nepali tea has not yet found a market. </span></p>

<p><span style="font-size:18px">According to him, the export of tea to countries other than India is possible through the personal relationship of businessmen. </span></p>

<p><span style="font-size:18px">According to the data of the board, Nepal exported 12,496 metric tons of tea worth Rs 3.43 billion in the fiscal year 2078/79. Out of that volume, 12, 096 metric tons of tea worth Rs 3.05 billion were exported to the Indian market. Nepalese CTC and orthodox tea are being exported to some states of India including West Bengal. Nepal produces more than 26,300 metric tons of annually on of 20,200 hectares of land. It includes 6,500 metric tons of orthodox tea. </span></p>

<p><span style="font-size:18px">&ldquo;We planned to export to China two years ago through the G2G process to break the monopoly of the Indian market, but it has been stalled for now,&#39;&#39; Khanal told New Business Age. He said that the plan stalled because the government did not take diplomatic initiatives to export tea through the G2G process. </span></p>

<p><span style="font-size:18px">Khanal says that Nepali tea, which is sold at Rs 650 per kg in the Indian market, can be sold for as high as Rs 3700 if it is delivered to China. </span></p>

<p><span style="font-size:18px">Chairman of Gorkha Tea State Pvt. Ltd. Uday Chapagain says that the government should open the Chinese market as soon as possible to eliminate Nepal&rsquo;s dependence on India for the tea market. </span></p>

<p><span style="font-size:18px">According to him, in order to expand the market of Nepali tea in countries other than India, it is also necessary to spread the message of quality products without chemical pesticides to the farmers. </span></p>

<p><span style="font-size:18px"><strong>100 Tons Order from China</strong> </span></p>

<p><span style="font-size:18px">Meanwhile, in a recent news published by the state-owned news agency RSS, it is mentioned that the Chinese businessmen who visited the tea plantations and industries of Ilam have ordered more than 100 metric tons of tea. Chinese tea traders had reached there a few days ago on the initiative of Ilam Municipality and Ilam Chamber of Commerce and Industry. </span></p>

<p><span style="font-size:18px">Tea businessman Chiran Dahal reportedly coordinated to bring the Chinese tea traders. On that occasion, Dahal said that there was a discussion between Chinese businessmen and local tea businessmen and farmers about the purchase of tea and the possibility of exporting tea to China.</span></p>
',
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			'created' => '2024-03-25',
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			'description' => '',
			'sortorder' => '20296',
			'image' => '20240325020040_Tea.jpg',
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	(int) 12 => array(
		'Article' => array(
			'id' => '20568',
			'article_category_id' => '1',
			'title' => 'Number of People Living in their Own Houses Decreasing',
			'sub_title' => '',
			'summary' => 'March 25: The percentage of the population living in their own houses in the country has decreased, according to the latest data of the government.',
			'content' => '<p><span style="font-size:18px">March 25: The percentage of the population living in their own houses in the country has decreased, according to the latest data of the government. The National Census 2078 report shows that 86 percent of the families in Nepal live in their own houses. </span></p>

<p><span style="font-size:18px">The census report under the heading of Housing and Household Dynamics in Nepal, which was published by the National Statistics Office a few days ago, shows that the number of families living in their own houses at present is less than the figures compared to 30 years ago. </span></p>

<p><span style="font-size:18px">According to the office, the number of families having their own houses was 92.6 percent in 2048 BS. By 2078 BS, it has decreased to 86 percent. There has been an increase in the number of families living on rent in the last 30 years. </span></p>

<p><span style="font-size:18px">In 2048 BS, the number of families living on rent was 4.7 percent, but by 2078 BS, the number of such families has reached 12.8 percent. This number has been stable for the last one decade. Even in 2068, the number of families living on rent was 12.8 percent. </span></p>

<p><span style="font-size:18px">According to the office, the number of families living on rent in the municipality is 18 percent. Similarly, data shows that 81 percent of the families in the municipality are living in their own houses/apartments. Most of the families living in the municipality have their own house/accommodation. </span></p>

<p><span style="font-size:18px">Meanwhile, 97 percent of the families living in the villages own their own houses. The office has also published the number of families living on rent in the provinces. The number of families living on rent is high in Bagmati Province, while it is lowest in Madhesh Province. </span></p>

<p><span style="font-size:18px">According to the office, the number of families living on rent in Madhesh Province is 2.3 percent. According to this data, more people are living on rent in the valley due to the services and facilities centered in the federal capital Kathmandu as well as opportunities from higher education and health facilities. </span></p>

<p><span style="font-size:18px">District-wise, the number of people living in their own houses in Kathmandu is 43 percent. Recently, the number of people living in concrete houses has also increased. This is seen when comparing the data from 2058 BS and 2078 BS. According to the office, the number of families with concrete residential houses in 2058 was 36.6 percent. By 2078, it has increased to 76.5 percent.</span></p>
',
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			'created' => '2024-03-25',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '20295',
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	(int) 13 => array(
		'Article' => array(
			'id' => '20567',
			'article_category_id' => '1',
			'title' => 'National Natural Resources and Fiscal Commission Recommends Fiscal Equalization Grant for Provinces',
			'sub_title' => '',
			'summary' => 'March 25: The National Natural Resources and Fiscal Commission has recommended the government to allocate fiscal equalization grant worth Rs 60 billion to the provinces and Rs 88 billion to the local levels for the upcoming fiscal year. ',
			'content' => '<p><span style="font-size:16px">March 25: The National Natural Resources and Fiscal Commission has recommended the government to allocate fiscal equalization grant worth Rs 60 billion to the provinces and Rs 88 billion to the local levels for the upcoming fiscal year. The recommendation was based on the provisions of minimum grants, formula-based grants, and performance-based grants. </span></p>

<p><span style="font-size:16px">The grant is to be sourced from the Federal Consolidated Fund. The constitutional provision mandates that the necessity of expenditures and revenue capacity of provincial governments and local levels be assessed while allocating fiscal equalization grants from the Federal Consolidated Fund. </span></p>

<p><span style="font-size:16px">Out of the total Rs 60 billion of the fiscal equalization grant that has been recommended for the provinces in the upcoming fiscal year, the minimum equalization grant is equivalent to Rs 15 billion, the formula-based equalization grant is equivalent to Rs 42.6 billion and the grant given on the basis of performance is equivalent to Rs 2.40 billion. </span></p>

<p><span style="font-size:16px">The commission has recommended providing Rs 8. 94 billion to Koshi Province, Rs 7. 79 billion to the Madhesh Province, Rs 8.24 billion to Bagmati Province and Rs 7.63 billion to Gandaki province. Similarly, the commission has recommended providing Rs 8.28 billion to Lumbini Province, Rs 10.36 billion to Karnali Province and Rs 8.72 billion to Sudurpaschim province as the fiscal equalization grant. </span></p>

<p><span style="font-size:16px">Likewise, the commission has also recommended the federal government to provide Rs 88 billion as the fiscal equalization grant to the local levels in the next fiscal year. The recommended minimum equalization grant to the local levels for the next fiscal year is Rs 26.68 billion, the formula-based equalization grant is Rs 57.79 billion and the grant to be provided based on performance is Rs 3.52 billion. -- RSS</span></p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '20566',
			'article_category_id' => '1',
			'title' => 'UN General Assembly adopts Resolution for Safe, Secure and Trustworthy AI ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:16px">March 25: The seventy-eighth session of the United Nations General Assembly (UNGA) has adopted a resolution on artificial intelligence seeking its &#39;safe, secure and trustworthy&#39; promotion. The UNGA on March 21 adopted the significant resolution, recognizing proliferation of AI and its impact on achievement of SDGs and seeking global consensus for safe, secure and trustworthy AI. </span></p>

<p><span style="font-size:16px">According to the document, the safe, secure and trustworthy AI systems are human centric which fully respect, promote and protect human rights and international law, maintain privacy, enable progress towards to SDGs and sustainable development in three fronts- economic, social and environment. Similarly, it promotes peace and digital divide within and among countries, the resolution mentioned. </span></p>

<p><span style="font-size:16px">The resolution underlines, &quot;AI systems in the non-military domain, whose life cycle includes the stages: pre-design, design, development, evaluation, testing, deployment, use, sale, procurement, operation and decommissioning, are such that they are human-centric, reliable, explainable, ethical, inclusive, in full respect, promotion and protection of human rights and international law.&quot; </span></p>

<p><span style="font-size:16px">The UN has called upon the member states and invited stakeholders to take action for cooperation and extend assistance to the developing countries so that they could be ensured with inclusive and equitable access to reap benefit from digital transformation and AI system. The UN member states are encouraged to prepare policies and regulation to foster competition in safe, secure and trustworthy AI system and technologies associated to it. </span></p>

<p><span style="font-size:16px">Moreover, it has attached significance on continuation of debates on unfolding incidents and updates relating to the governance of AI in order for the international approaches to be abreast with evolution of AI systems and their uses. </span></p>

<p><span style="font-size:16px">The document read, &quot;It encourages continued efforts by the international community to promote inclusive research, mapping and analysis that benefit all parties on the potential impacts and applications that artificial intelligence systems and rapid technological change can have in the development of existing and new and emerging technologies and on accelerating the achievement of all 17 Sustainable Development Goals, and to inform how to develop, promote and implement effective, internationally interoperable safeguards, practices, standards and tools for artificial intelligence designers, developers, evaluators, deployers, users and other stakeholders for safe, secure and trustworthy artificial intelligence systems&quot;. </span></p>

<p><span style="font-size:16px">The member states are further called upon to close gender digital divide. They are called to &quot;adopt specific measures to close the gender digital divide and to ensure that particular attention is paid to access, affordability, digital literacy, privacy and online safety, to enhance the use of digital technologies, including artificial intelligence systems, and to mainstream a disability, gender and racial equality perspective in policy decisions and the frameworks that guide them&quot;. </span></p>

<p><span style="font-size:16px">In this regard, the UN News wrote: Ms Thomas-Greenfield, the US Ambassador and Permanent Representative to the UN, who introduced the draft resolution, highlighted the opportunity and the responsibility of the international community &ldquo;to govern this technology rather than let it govern us&rdquo;. While adopting the resolution, the UNGA reaffirmed international law, Charter of the UN and recollected UDHR. -- RSS</span></p>
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		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
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		'Article' => array(
			'id' => '20583',
			'article_category_id' => '1',
			'title' => 'Nepal's Credit Rating not Possible before Investment Summit',
			'sub_title' => '',
			'summary' => 'March 27: The government's initiative to complete Nepal's credit rating before the investment summit in April is unlikely to be fulfilled.',
			'content' => '<p><span style="font-size:18px">March 27: The government&#39;s initiative to complete Nepal&#39;s credit rating before the investment summit in April is unlikely to be fulfilled. Nepal&#39;s sovereign credit rating has not been done until now. The government is preparing to undertake the country&rsquo;s sovereign credit rating through the American credit rating company Fitch Rating with a grant assistance from the British government. </span></p>

<p><span style="font-size:18px">Experts say that the sovereign rating helps to depict the real economic and financial situation of Nepal and helps international investors get a clear picture of the investment environment of the country and the prospects of returns. Stakeholders have been urging for sovereign rating saying that the absence of the rating has hugely impacted foreign direct investment (FDI) prospects of Nepal. </span></p>

<p><span style="font-size:18px">The government was hopeful that the positive outcome of the rating can attract investors who attend the upcoming investment summit. </span></p>

<p><span style="font-size:18px">&quot;The rating work has not been started due to the lack of clarity on the scope of work between the British aid agency (Foreign Commonwealth and Development Office), which provides us with grants, and the Standard Chartered Bank, which provides technical support to it,&quot; Dhaniram Sharma, spokesperson for the Ministry of Finance, told New Business Age, adding, &ldquo;Therefore, the country rating is not possible before the investment summit scheduled for late April.&rdquo; </span></p>

<p><span style="font-size:18px">He said that the Government of Nepal is coordinating to forge an understanding between these two organizations. According to Sharma, Fitch Ratings is going to underake the country rating of Nepal with grant assistance from the British aid agency. </span></p>

<p><span style="font-size:18px">&quot;Fitch Ratings has pledged to prepare its report within three months after starting the work,&quot; said Sharma. Since the work has not started yet, the possibility of getting the report before the investment summit is not possible. </span></p>

<p><span style="font-size:18px">The government has announced that the investment summit will be held on April 28-29.</span></p>

<p><span style="font-size:18px">The government had mentioned in the budget announcement five years ago that it will opt for the country&rsquo;s sovereign credit rating. It took almost a year to find the donor for the rating. The government handed over the responsibility of rating to Fitch Ratings after DFIF pledged to financially support the credit rating of Nepal. </span></p>

<p><span style="font-size:18px">However, the credit rating was halted due to the onset of the coronavirus pandemic the same year as the government was apprehensive that the credit rating outcome would not be as expected due to the impact of the pandemic. </span></p>

<p><span style="font-size:18px">&quot;The government had to take measures to control imports due to problems such as a decrease in foreign exchange reserves and lack of liquidity in in the banking system,&quot; said Sharma, &quot;There was no particular benefit to the country by credit rating in such a situation.&quot; </span></p>

<p><span style="font-size:18px">Now the economy seems to have revived to some extent. As the government is preparing to hold the investment summit, it is trying to advance the work of country rating again.</span></p>
',
			'published' => true,
			'created' => '2024-03-27',
			'modified' => '2024-03-27',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20310',
			'image' => '20240327115633_20240125023341_fitch-ratings-1671551049.jpg',
			'article_date' => '2024-03-27 11:53:46',
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	(int) 1 => array(
		'Article' => array(
			'id' => '20582',
			'article_category_id' => '1',
			'title' => 'Nepal in AIIB’s ‘Priority’ List for Investment',
			'sub_title' => '',
			'summary' => 'March 26: The Asian Infrastructure Investment Bank (AIIB) has said it accords top priority to Nepal.',
			'content' => '<p><span style="font-size:18px">March 26: The Asian Infrastructure Investment Bank (AIIB) has said it accords top priority to Nepal. A visiting high-level delegation from the AIIB said this during a meeting with Finance Minister Barshaman Pun, according to the Minister&#39;s Secretariat. </span></p>

<p><span style="font-size:18px">On the occasion, Finance Minister Pun urged the AIIB for scaling up its investment in Nepal&#39;s infrastructure development and other projects. In reply, AIIB Director RMP Rathnayake, who leads the delegation, praised Nepal&#39;s endeavours for investment policy reforms and for their enhancement. He pledged to adopt a policy of increasing investment in Nepal in the days to come on the basis of the availability of resources. </span></p>

<p><span style="font-size:18px">The minister also urged the AIIB for a partnership with Nepal&#39;s private sector as per its policy of mobilizing its 50 percent capital in partnership with the private sector. In response, the delegation chief suggested about the possibility for the collaboration with Nepal&#39;s private sector by selecting multi-year projects. </span></p>

<p><span style="font-size:18px">On the occasion, the finance minister invited the AIIB to the Third Nepal Investment Summit that Nepal is scheduled to host on April 28-29. Director Rathnayake said a high-level participation will be there from the AIIB in the Summit. </span></p>

<p><span style="font-size:18px">The minister utilised the meeting to call on the AIIB for ensuring provisions to provide a concessional loan to Nepal and middle-income developing countries. He informed the delegation that Nepal has been deprived of leveraging expected benefits from the AIIB due to its relatively high interest rates. </span></p>

<p><span style="font-size:18px">&quot;Despite being the AIIB&rsquo;s founding member, Nepal has failed to take expected benefits from its investments due to the high interest rate,&quot; he said. </span></p>

<p><span style="font-size:18px">Stating that multiple projects of infrastructure development are to be carried out in Nepal, he insisted on concessions on AIIB borrowings to Nepal. The finance minister said that the government accords top priority to the infrastructure development and it is required to source out the funds due to its limited internal resources. </span></p>

<p><span style="font-size:18px">The minister advised the AIIB to invest in Nepal&#39;s infrastructure development, hydroelectricity, tourism and information technology sectors, and the areas of relative benefits.</span></p>

<p><span style="font-size:18px">He apprised the delegation that Nepal has signed an agreement with India to supply 10,000 megawatts of electricity and added that there is no market issue for power to be generated in Nepal. Likewise, as per the power trade agreement between Nepal and Bangladesh, Nepal will be soon exporting 40 megawatts of electricity to Bangladesh. </span></p>

<p><span style="font-size:18px">Sharing about the Nepal&#39;s process to graduate from the least developed country to a developing country by 2026, the minister sought diversifications of AIIB investment in Nepal. Similarly, stating about Nepal&#39;s plan to mobilise the climate change finance in Nepal&#39;s development projects, he also urged for the AIIB support towards that end. </span></p>

<p><span style="font-size:18px">The AIIB has invested USD 40 million in the under-construction 216-MW Upper Trishuli-1 hydroelectricity project. It has also invested in some under-construction transmission lines in Lumbini and Karnali provinces. -- RSS</span></p>
',
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			'created' => '2024-03-27',
			'modified' => '2024-03-27',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20309',
			'image' => '20240327111737_d30810c1.jpeg',
			'article_date' => '2024-03-27 11:15:41',
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	(int) 2 => array(
		'Article' => array(
			'id' => '20581',
			'article_category_id' => '1',
			'title' => 'Weather to Remain Cloudy for Three more Days, Rainfall Expected in Western Nepal    ',
			'sub_title' => '',
			'summary' => 'March 27: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has predicted light rain along with lightning for the next three days in the hill regions of Koshi, Bagmati and Gandaki provinces. ',
			'content' => '<p><span style="font-size:18px">March 27: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has predicted light rain along with lightning for the next three days in the hill regions of Koshi, Bagmati and Gandaki provinces. </span></p>

<p><span style="font-size:18px">According to the division, there is a possibility of rainfall in the hill areas of the far-western and mid-western regions from today. Meteorologist Saroj Pudasaini said there is a possibility of rain in the hill regions of different provinces and snowfall in the high hills and mountainous areas. </span></p>

<p><span style="font-size:18px">&quot;The influence of westerly wind and local wind in Nepal has resulted in partly cloudy weather in the hill areas of the country including Koshi province,&quot; he said, adding, &quot;Although there had been rainfall in the eastern parts of the country recently, the western region was yet to experience rainfall in the past few days. Now, the rainfall is shifting towards the western parts of Nepal.&quot; </span></p>

<p><span style="font-size:18px">According to the division, light rainfall with thunder and lightning is likely to occur at a few places of the hill regions of Koshi, Bagmati and Gandaki provinces and at one or two places of the Madhes province and the rest of the hill regions in next 24 hours. -- RSS</span></p>
',
			'published' => true,
			'created' => '2024-03-27',
			'modified' => '2024-03-27',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20308',
			'image' => '20240327104953_sno.jpg',
			'article_date' => '2024-03-27 10:48:49',
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	(int) 3 => array(
		'Article' => array(
			'id' => '20580',
			'article_category_id' => '1',
			'title' => 'Shree Airlines Adds Two More Aircraft to its Fleet',
			'sub_title' => '',
			'summary' => 'March 26: Shree Airlines has added two more 80-seater aircraft to its fleet. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">March 26: Shree Airlines has added two more 80-seater aircraft to its fleet. The private sector airlines company has brought the &#39;Dash 8&#39; planes manufactured by De Havilland Aircraft of Canada Limited (DHC).&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The two aircraft with call sign 9N-AOK and 9N-AOL respectively landed in Kathmandu on Tuesday, said Anil Mananadhar, the manager of Shree Airlines. These aircraft were operated by Horizon Air and Alaska Air based in America before this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Manandhar said both the planes will be used for commercial flights soon after completing the processes required by the Civil Aviation Authority of Nepal (CAAN).</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">With the new addition, Shree Airlines now has a fleet of 10 aircraft. It also has eight helicopters in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Shree Airlines started operating regular flights to various destinations in Nepal in 2017, using two 50-seater CRJ 200 aircraft and two 70-seater RJ 700 jet planes. The airlines company that brought additional two 80-seater aircraft in 2019 and again in 2022 has been expanding its flight destinations.</span> -- <span style="font-size:14.0pt">RSS</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-03-26',
			'modified' => '2024-03-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20307',
			'image' => '20240326071401_67174585_2331425296894015_8605165911831216128_n.jpg',
			'article_date' => '2024-03-26 19:12:59',
			'homepage' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '20579',
			'article_category_id' => '1',
			'title' => 'Decline in Renewal of Insurance Policies Impacts Business of Life Insurance Companies ',
			'sub_title' => '',
			'summary' => 'March 26: The business of life insurance companies has decreased in mid-February to mid-March of the current fiscal year.',
			'content' => '<p><span style="font-size:18px">March 26: The business of life insurance companies has decreased in mid-February to mid-March of the current fiscal year.</span></p>

<p><span style="font-size:18px">Although the collection of first-time insurance fee increased in the review month, the overall business declined due to the decline in renewal of insurance policies. According to the Nepal Insurance Authority, 14 life insurance companies collected insurance fees of Rs 11.65 billion from the sale of new insurance policies and the renewal of old policies in mid-February to mid-March. </span></p>

<p><span style="font-size:18px">Compared to the previous one-month period, collection of insurance fees of the life insurance companies decreased by about Rs 1 billion. In mid-January to mid-February, the insurance companies had collected Rs 12.66 billion in insurance fees. </span></p>

<p><span style="font-size:18px">In mid-February to mid-March, life insurance companies issued a total of 415,676 insurance policies and collected Rs 2.55 billion as first-time insurance fee. Similarly, the authority said that the companies collected insurance fee of Rs 9.95 billion from the renewal of insurance policies. </span></p>

<p><span style="font-size:18px">In mid-January to mid-February, the insurance companies had issued a total of 448,000 insurance policies and collected Rs 2.29 billion as the first-time insurance fee. Similarly, they collected insurance fee of Rs 10.36 billion from renewal. Nepal Life Insurance Company collected the highest insurance fee in mid-February to mid-March. The company collected Rs 3.9 billion in the review month.</span></p>
',
			'published' => true,
			'created' => '2024-03-26',
			'modified' => '2024-03-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20306',
			'image' => '20240326110912_INSURANCE-COVERAGE.jpg',
			'article_date' => '2024-03-26 11:08:02',
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	(int) 5 => array(
		'Article' => array(
			'id' => '20578',
			'article_category_id' => '1',
			'title' => 'NPC Issues Guidelines to Discourage Inclusion of Random Plans in Budget',
			'sub_title' => '',
			'summary' => 'March 26: The National Planning Commission (NPC) has prohibited the government from including random plans in the budget. ',
			'content' => '<p><span style="font-size:18px">March 26: The National Planning Commission (NPC) has prohibited the government from including random plans in the budget. </span></p>

<p><span style="font-size:18px">While the government is doing its homework to issue the budget for the upcoming fiscal year, the NPC has had made it clear that the projects that are not included in the National Project Bank will not be included in the budget.</span></p>

<p><span style="font-size:18px">In the past, the budget implementation used to be affected due to due to pressure and influence from the ward chairmen to the parliament to include projects of vested interests in the budget. </span></p>

<p><span style="font-size:18px">This time, the National Planning Commission has taken strict measures to eliminate the past practice of haphazard planning. After realizing that the inclusion of small and petty plans in the budget without proper study caused problems in implementation of such plans every year, the National Planning Commission issued guidelines and frameworks for the upcoming budget and has made strict provisions not to include such plans in the budget.</span></p>

<p><span style="font-size:18px">As per the Financial Procedures and Financial Responsibility Regulations, the NPC has asked all central agencies to send details of the annual budget and program and medium-term expenditure structure only by entering the details of the project in the National Project Bank by themselves or through their subordinate offices or projects. </span></p>

<p><span style="font-size:18px">There is a clear provision in the guidelines that no budget can be allocated for projects that are not included in the National Project Bank. From now onwards, the government officials who are engaged in the preparation of the budget will not be allowed to allocate the budget for the plans that have not been entered in the National Project Bank. </span></p>

<p><span style="font-size:18px">Dhaniram Sharma, joint secretary of the Ministry of Finance, said that the new guidelines have discouraged the practice of randomly recommending plans in the budget. </span></p>

<p><span style="font-size:18px">For programs and projects that are implemented with the cooperation and coordination of more than one federal ministry or agency, the National Planning Commission has made guidelines so that the programs can only be proposed through coordination and cooperation of all related agencies. Ministries will have to propose budgets by prioritizing programs and projects that can be completed within the first quarter of the year. </span></p>

<p><span style="font-size:18px">The NPC has asked the ministries to be realistic on the annual plan and to propose the budget so that there is no need to revise the program in the middle of the year.</span></p>
',
			'published' => true,
			'created' => '2024-03-26',
			'modified' => '2024-03-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20305',
			'image' => '20240326110745_budget.jpg',
			'article_date' => '2024-03-26 11:06:21',
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	(int) 6 => array(
		'Article' => array(
			'id' => '20577',
			'article_category_id' => '1',
			'title' => 'First-phase Construction of Asian Highway Begins',
			'sub_title' => '',
			'summary' => 'March 26: The first-phase of construction of the Asian Highway connecting 32 countries in the continent has started in Nepal. ',
			'content' => '<p><span style="font-size:18px">March 26: The first-phase of construction of the Asian Highway connecting 32 countries in the continent has started in Nepal. </span></p>

<p><span style="font-size:18px">Under this project, a 120-kilometer four-lane road from Kakarvitta to Laukahi of Sunsari is being constructed in the first phase with the financial support of the Asian Development Bank, the state-owned RSS reported. </span></p>

<p><span style="font-size:18px">The government has handed the responsibility of the construction work to Jain CR F G Tundi Company. The company has started removing trees from Sitapuri of Kamal rural municipality in Jhapa district to Devikhola of Itahari. </span></p>

<p><span style="font-size:18px">Hari Prasad Parajuli, a representative of the construction company, said that around 6,737 trees would be removed along this section. He told RSS that the company has reached an agreement with the government to complete the road construction within three years. </span></p>

<p><span style="font-size:18px">The 120-km-long four-lane roadway falls under a section of the East-West Highway and it connects Jhapa, Morang and Sunsari. It is being constructed at an investment of Rs 28.17 billion from the Asian Development Bank. The highway is to be expanded along with the construction of 71 new bridges, added Parajuli. </span></p>

<p><span style="font-size:18px">The Asian Highway project was initiated by the United Nations in 1959 with the aim of promoting the development of international road transport in the region. During the first phase of the project (1960&ndash;1970) considerable progress was achieved, however, progress slowed down when financial assistance was suspended in 1975. </span></p>

<p><span style="font-size:18px">Altogether 32 countries have signed agreements to allow the highway to cross the continent and also reach to Europe. Some of the countries taking part in the highway project are India, Sri Lanka, Pakistan, China, Iran, Japan, South Korea, Nepal and Bangladesh. </span></p>

<p><span style="font-size:18px">Most of the funding comes from the larger, more advanced Asian nations such as China, South Korea and Singapore as well as international agencies such as the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB).</span></p>
',
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			'created' => '2024-03-26',
			'modified' => '2024-03-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20304',
			'image' => '20240326110558_20240325093741_highway (1).jpg',
			'article_date' => '2024-03-26 11:04:39',
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	(int) 7 => array(
		'Article' => array(
			'id' => '20576',
			'article_category_id' => '1',
			'title' => 'Possibility of Load Shedding from Next Week',
			'sub_title' => '',
			'summary' => 'March 26: India’s hesitation to renew the agreement to allow Nepal to purchase electricity from its electricity trading market (Indian Energy Exchange) has heightened the risk of load shedding in Nepal from next week.',
			'content' => '<p><span style="font-size:18px">March 26: India&rsquo;s hesitation to renew the agreement to allow Nepal to purchase electricity from its electricity trading market (Indian Energy Exchange) has heightened the risk of load shedding in Nepal from next week. </span></p>

<p><span style="font-size:18px">According to the Nepal Electricity Authority (NEA), the contract, which has to be renewed every year, is expiring on March 31. Officials of the NEA say that even though Nepal has been urging India for renewal of the contract since the last three months, the concerned bodies of India have not shown any interest for renewal.</span></p>

<p><span style="font-size:18px">&quot;Indian officials have hinted verbally that the contract cannot be renewed under the pretext of the upcoming Lok Sabha elections in India,&quot; said a high-ranking source at the NEA on condition of anonymity. </span></p>

<p><span style="font-size:18px">According to the official, it will be challenging for the NEA to manage electricity for the next one and a half months as Nepal&#39;s domestic electricity production will not increase until mid-May.</span></p>

<p><span style="font-size:18px">&quot;India had not delayed the renewal of contract in the past,&quot; said the source. India gave the permission to Nepal to import electricity from the Indian Energy Exchange for the first time in March 2021. </span></p>

<p><span style="font-size:18px">According to the agreement, Nepal can import electricity through Dhalkebar-Muzaffarpur International Transmission Line and Mahendranagar-Tanakpur International Transmission Line. </span></p>

<p><span style="font-size:18px">Officials of the NEA said that although India had been renewing the contract without any issues in the past, this year it has indicated that it cannot be renewed on the pretext of elections. In India, the Lok Sabha elections are being held in different stages for 6 weeks starting from April 17. </span></p>

<p><span style="font-size:18px">&quot;There is a state of confusion due to non-renewal of the agreement,&quot; Chandan Kumar Ghosh, spokesperson for the NEA, told New Business Age, &quot;But we are hopeful, India will renew the agreement because providing electricity to Nepal will not affect the availability of electricity in India.&rdquo; </span></p>

<p><span style="font-size:18px">According to him, if the contract is not renewed, there will be a situation where electricity supply to the households and industries will have to be halted. </span></p>

<p><span style="font-size:18px">According to the NEA, it imports about 600 MW of electricity from India in winter. This is about one third of the demand. According to the authority, the peak hour demand has now reached 1,885 MW. </span></p>

<p><span style="font-size:18px">&quot;If one-third of the demand of electricity is not available, there will be a situation of load shedding,&quot; said Ghosh. In such a situation, he indicated that industrial customers may experience power cuts more than household consumers. When there is a shortage of electricity, the authority gives priority to domestic customers. </span></p>

<p><span style="font-size:18px">Although Nepal sells surplus electricity to India during the rainy season, it has to import electricity from India in the winter to meet the domestic demand. Most of the hydropower projects in Nepal are run-of-the-river type. Such projects produce only one-third of their capacity in winter. </span></p>

<p><span style="font-size:18px">Although India has indicated that it will not renew the agreement due the Lok Sabha elections, it is speculated that India&rsquo;s reluctance to renew the agreement may be the result of New Delhi&#39;s dissatisfaction with the latest change in the power equation of Nepal. The Indian media and analysts have been saying that the coalition government of the CPN (UML) and CPN (Maoist Center) was instigated by China. Prime Minister Pushpa Kamal Dahal broke the alliance with the Nepali Congress on March 7 and formed a new alliance with the UML and other fringe parties.</span></p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '20303',
			'image' => '20240326103256_20220511083106_1652136985.Clipboard20.jpg',
			'article_date' => '2024-03-26 10:31:02',
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	(int) 8 => array(
		'Article' => array(
			'id' => '20575',
			'article_category_id' => '1',
			'title' => 'Government Starts Issuing Climbing Permits for Spring Expedition',
			'sub_title' => '',
			'summary' => 'March 26: The Department of Tourism has started issuing mountaineering permits for spring mountaineering season.    ',
			'content' => '<p><span style="font-size:18px">March 26: The Department of Tourism has started issuing mountaineering permits for spring mountaineering season. </span></p>

<p><span style="font-size:18px">A total of 33 people have already taken permission to climb four different mountains this season, said Director of Adventure Tourism and Mountaineering Branch of the department, Rakesh Gurung. </span></p>

<p><span style="font-size:18px">Among them, 24 climbers have obtained permits to climb Mt Annapurna, three for Mt Ama Dablam, five for Himlung, and one for Jugal. The department will start issuing climbing permits for the world&#39;s highest peak, Mount Everest, from Tuesday.</span></p>

<p><span style="font-size:18px">According to the department, arrangements have been made for mountaineers to make online bookings for climbing. </span></p>

<p><span style="font-size:18px">Spring is considered the ideal season for climbing mountains, especially Mt Everest. The government charges higher fees during the spring season. As per the department, a tourist has to pay USD 11,000 per person to climb Mount Everest.</span></p>

<p><span style="font-size:18px">Last year, the government had collected over Rs 474.6 million in revenue from more than 900 climbers from different countries. Altogether 414 mountains and peaks of Nepal are open for expedition. <em>(With inputs from RSS)</em></span></p>
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		'Article' => array(
			'id' => '20574',
			'article_category_id' => '1',
			'title' => 'Court Acquits Cricketers in Match-Fixing Case',
			'sub_title' => '',
			'summary' => 'March 26: The Kathmandu District Court has acquitted five people, including cricketer Adil Ansari and former national cricket player Mahaboob Alam, who were accused of match-fixing.     ',
			'content' => '<p><span style="font-size:18px">March 26: The Kathmandu District Court has acquitted five people, including cricketer Adil Ansari and former national cricket player Mahaboob Alam, who were accused of match-fixing. A bench of Judge Kamal Prasad Pokharel on Monday acquitted five people held on the charge of match fixing, arguing that the petitioners&rsquo; claim was not sufficient to prove them guilty. </span></p>

<p><span style="font-size:18px">According to Chandra Prasad Panthi, information officer of the District Court, Kathmandu, the court acquitted the five persons after the claims made by the government against them could not be substantiated. The Central Investigation Bureau (CIB) of Nepal Police had arrested cricketers Mahabub Alam and Mohammad Adil Ansari on charge of spot fixing and match fixing on January 23 last year. They were later released on a bail of Rs 300,000 each. </span></p>

<p><span style="font-size:18px">The franchise-club based T-20 league was held at the TU cricket ground in Kirtipur from December 24, 2022 to January 11, 2023. The match was organized by Cricket Association of Nepal (CAN) in strategic and commercial partnership with India&#39;s Seven3 Sports Pvt. Ltd. </span></p>

<p><span style="font-size:18px">The CIB had submitted its investigation report to the Office of the District Attorney in mid-February last year recommended action against 12 people involved in the spot fixing and match fixing scam. The 12 people, including the two cricketers, recommended for prosecution were accused of helping to alter the results of the match, indulging in match fixing and inciting others to be involved in the illegal act.</span></p>
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		'Article' => array(
			'id' => '20573',
			'article_category_id' => '1',
			'title' => 'PM urges AIIB for Concessional Loan to Nepal ',
			'sub_title' => '',
			'summary' => 'March 26: Prime Minister Pushpa Kamal Dahal has urged the Asian Infrastructure Investment Bank (AIIB) to ensure a policy for providing concessional loan to Nepal. ',
			'content' => '<p><span style="font-size:18px">March 26: Prime Minister Pushpa Kamal Dahal has urged the Asian Infrastructure Investment Bank (AIIB) to ensure a policy for providing concessional loan to Nepal. </span></p>

<p><span style="font-size:18px">During a courtesy meeting with a delegation led by RMP Rathnayake, the AIIB director, Prime Minister Dahal said, &quot;Nepal still needs concessions in borrowings. In fact, this market rate pricing is restricting Nepal to access to AIIB financing. As you are policy makers, I urge you all to consider about this.&quot; </span></p>

<p><span style="font-size:18px">Stating the government is focused on achieving a high economic growth target simultaneously with good governance, institutional development, social justice and prosperity, the prime minister said, Nepal is expecting for the AIIB&#39;s support in financing, technical assistance, knowledge sharing and mobilizing private capital. </span></p>

<p><span style="font-size:18px">The PM said currently there are a few projects under AIIB investment in Nepal in the energy sector and there are ample possibilities for investment in hydropower, tourism, information technology and other infrastructure projects. He urged the AIIB to consider for the investment in these areas. </span></p>

<p><span style="font-size:18px">&quot;Nepal has reached an agreement to export 10,000 megawatts of electricity to India and to Bangladesh as well. This has paved the way for Nepal&#39;s energy trade,&quot; he said. Recalling about the Nepal&#39;s schedule to host the Third Nepal Investment Summit next month (April 28-29), the prime minister expressed his hope that there would a high-level participation from the AIIB in the event, contributing to building an investment-friendly atmosphere for areas of priorities in Nepal. </span></p>

<p><span style="font-size:18px">He also appraised the delegation that Nepal has revised its policies aiming to promote private and foreign investment and urged the AIIB to investment confidently in Nepal. The delegation led by Rathnayake comprised AIIB vice president and other senior officials. On the occasion, Rathnayake said AIIB accords top priority to Nepal as its founding member and the bank is positive for increasing its investment in its development endeavors. -- RSS</span></p>
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		'Article' => array(
			'id' => '20569',
			'article_category_id' => '1',
			'title' => 'Tea Export Plan to China in Peril ',
			'sub_title' => '',
			'summary' => 'March 25: It has been more than a century and a half since Nepal started cultivation of tea.',
			'content' => '<p><span style="font-size:18px">March 25: It has been more than a century and a half since Nepal started cultivation of tea. The tea produced here is also exported to foreign countries. </span></p>

<p><span style="font-size:18px">However, Nepali tea producers have to rely on the Indian market for export. </span></p>

<p><span style="font-size:18px">Although the Government of Nepal planned to export tea to China to diversify the tea market and break the monopoly of the Indian market, the plan has failed to materialize. Since the government&rsquo;s plan could not be materialized, Nepal&rsquo;s tea market has not been able to expand due to its dependence on India. </span></p>

<p><span style="font-size:18px">According to the National Tea and Coffee Development Board, tea produced in Nepal is exported to 38 countries in the world including China, America, Europe through some private companies. However, stakeholders say that it is not enough to break the monopoly of the Indian market. </span></p>

<p><span style="font-size:18px">They have recommended the government to take a G2G (Government-to-Government) initiative. </span></p>

<p><span style="font-size:18px">The board&rsquo;s Director Dr Deepak Khanal said that although tea production has improved a lot compared to the past, Nepal has not made satisfactory progress in its efforts to expand the market. </span></p>

<p><span style="font-size:18px">According to him, even now the biggest problem of Nepal&rsquo;s tea industry is the lack of market and monopoly of Indian market. He argues that the export of only 15 percent to European and American markets, apart from India, confirms that Nepali tea has not yet found a market. </span></p>

<p><span style="font-size:18px">According to him, the export of tea to countries other than India is possible through the personal relationship of businessmen. </span></p>

<p><span style="font-size:18px">According to the data of the board, Nepal exported 12,496 metric tons of tea worth Rs 3.43 billion in the fiscal year 2078/79. Out of that volume, 12, 096 metric tons of tea worth Rs 3.05 billion were exported to the Indian market. Nepalese CTC and orthodox tea are being exported to some states of India including West Bengal. Nepal produces more than 26,300 metric tons of annually on of 20,200 hectares of land. It includes 6,500 metric tons of orthodox tea. </span></p>

<p><span style="font-size:18px">&ldquo;We planned to export to China two years ago through the G2G process to break the monopoly of the Indian market, but it has been stalled for now,&#39;&#39; Khanal told New Business Age. He said that the plan stalled because the government did not take diplomatic initiatives to export tea through the G2G process. </span></p>

<p><span style="font-size:18px">Khanal says that Nepali tea, which is sold at Rs 650 per kg in the Indian market, can be sold for as high as Rs 3700 if it is delivered to China. </span></p>

<p><span style="font-size:18px">Chairman of Gorkha Tea State Pvt. Ltd. Uday Chapagain says that the government should open the Chinese market as soon as possible to eliminate Nepal&rsquo;s dependence on India for the tea market. </span></p>

<p><span style="font-size:18px">According to him, in order to expand the market of Nepali tea in countries other than India, it is also necessary to spread the message of quality products without chemical pesticides to the farmers. </span></p>

<p><span style="font-size:18px"><strong>100 Tons Order from China</strong> </span></p>

<p><span style="font-size:18px">Meanwhile, in a recent news published by the state-owned news agency RSS, it is mentioned that the Chinese businessmen who visited the tea plantations and industries of Ilam have ordered more than 100 metric tons of tea. Chinese tea traders had reached there a few days ago on the initiative of Ilam Municipality and Ilam Chamber of Commerce and Industry. </span></p>

<p><span style="font-size:18px">Tea businessman Chiran Dahal reportedly coordinated to bring the Chinese tea traders. On that occasion, Dahal said that there was a discussion between Chinese businessmen and local tea businessmen and farmers about the purchase of tea and the possibility of exporting tea to China.</span></p>
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		'Article' => array(
			'id' => '20568',
			'article_category_id' => '1',
			'title' => 'Number of People Living in their Own Houses Decreasing',
			'sub_title' => '',
			'summary' => 'March 25: The percentage of the population living in their own houses in the country has decreased, according to the latest data of the government.',
			'content' => '<p><span style="font-size:18px">March 25: The percentage of the population living in their own houses in the country has decreased, according to the latest data of the government. The National Census 2078 report shows that 86 percent of the families in Nepal live in their own houses. </span></p>

<p><span style="font-size:18px">The census report under the heading of Housing and Household Dynamics in Nepal, which was published by the National Statistics Office a few days ago, shows that the number of families living in their own houses at present is less than the figures compared to 30 years ago. </span></p>

<p><span style="font-size:18px">According to the office, the number of families having their own houses was 92.6 percent in 2048 BS. By 2078 BS, it has decreased to 86 percent. There has been an increase in the number of families living on rent in the last 30 years. </span></p>

<p><span style="font-size:18px">In 2048 BS, the number of families living on rent was 4.7 percent, but by 2078 BS, the number of such families has reached 12.8 percent. This number has been stable for the last one decade. Even in 2068, the number of families living on rent was 12.8 percent. </span></p>

<p><span style="font-size:18px">According to the office, the number of families living on rent in the municipality is 18 percent. Similarly, data shows that 81 percent of the families in the municipality are living in their own houses/apartments. Most of the families living in the municipality have their own house/accommodation. </span></p>

<p><span style="font-size:18px">Meanwhile, 97 percent of the families living in the villages own their own houses. The office has also published the number of families living on rent in the provinces. The number of families living on rent is high in Bagmati Province, while it is lowest in Madhesh Province. </span></p>

<p><span style="font-size:18px">According to the office, the number of families living on rent in Madhesh Province is 2.3 percent. According to this data, more people are living on rent in the valley due to the services and facilities centered in the federal capital Kathmandu as well as opportunities from higher education and health facilities. </span></p>

<p><span style="font-size:18px">District-wise, the number of people living in their own houses in Kathmandu is 43 percent. Recently, the number of people living in concrete houses has also increased. This is seen when comparing the data from 2058 BS and 2078 BS. According to the office, the number of families with concrete residential houses in 2058 was 36.6 percent. By 2078, it has increased to 76.5 percent.</span></p>
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		'Article' => array(
			'id' => '20567',
			'article_category_id' => '1',
			'title' => 'National Natural Resources and Fiscal Commission Recommends Fiscal Equalization Grant for Provinces',
			'sub_title' => '',
			'summary' => 'March 25: The National Natural Resources and Fiscal Commission has recommended the government to allocate fiscal equalization grant worth Rs 60 billion to the provinces and Rs 88 billion to the local levels for the upcoming fiscal year. ',
			'content' => '<p><span style="font-size:16px">March 25: The National Natural Resources and Fiscal Commission has recommended the government to allocate fiscal equalization grant worth Rs 60 billion to the provinces and Rs 88 billion to the local levels for the upcoming fiscal year. The recommendation was based on the provisions of minimum grants, formula-based grants, and performance-based grants. </span></p>

<p><span style="font-size:16px">The grant is to be sourced from the Federal Consolidated Fund. The constitutional provision mandates that the necessity of expenditures and revenue capacity of provincial governments and local levels be assessed while allocating fiscal equalization grants from the Federal Consolidated Fund. </span></p>

<p><span style="font-size:16px">Out of the total Rs 60 billion of the fiscal equalization grant that has been recommended for the provinces in the upcoming fiscal year, the minimum equalization grant is equivalent to Rs 15 billion, the formula-based equalization grant is equivalent to Rs 42.6 billion and the grant given on the basis of performance is equivalent to Rs 2.40 billion. </span></p>

<p><span style="font-size:16px">The commission has recommended providing Rs 8. 94 billion to Koshi Province, Rs 7. 79 billion to the Madhesh Province, Rs 8.24 billion to Bagmati Province and Rs 7.63 billion to Gandaki province. Similarly, the commission has recommended providing Rs 8.28 billion to Lumbini Province, Rs 10.36 billion to Karnali Province and Rs 8.72 billion to Sudurpaschim province as the fiscal equalization grant. </span></p>

<p><span style="font-size:16px">Likewise, the commission has also recommended the federal government to provide Rs 88 billion as the fiscal equalization grant to the local levels in the next fiscal year. The recommended minimum equalization grant to the local levels for the next fiscal year is Rs 26.68 billion, the formula-based equalization grant is Rs 57.79 billion and the grant to be provided based on performance is Rs 3.52 billion. -- RSS</span></p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '20566',
			'article_category_id' => '1',
			'title' => 'UN General Assembly adopts Resolution for Safe, Secure and Trustworthy AI ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:16px">March 25: The seventy-eighth session of the United Nations General Assembly (UNGA) has adopted a resolution on artificial intelligence seeking its &#39;safe, secure and trustworthy&#39; promotion. The UNGA on March 21 adopted the significant resolution, recognizing proliferation of AI and its impact on achievement of SDGs and seeking global consensus for safe, secure and trustworthy AI. </span></p>

<p><span style="font-size:16px">According to the document, the safe, secure and trustworthy AI systems are human centric which fully respect, promote and protect human rights and international law, maintain privacy, enable progress towards to SDGs and sustainable development in three fronts- economic, social and environment. Similarly, it promotes peace and digital divide within and among countries, the resolution mentioned. </span></p>

<p><span style="font-size:16px">The resolution underlines, &quot;AI systems in the non-military domain, whose life cycle includes the stages: pre-design, design, development, evaluation, testing, deployment, use, sale, procurement, operation and decommissioning, are such that they are human-centric, reliable, explainable, ethical, inclusive, in full respect, promotion and protection of human rights and international law.&quot; </span></p>

<p><span style="font-size:16px">The UN has called upon the member states and invited stakeholders to take action for cooperation and extend assistance to the developing countries so that they could be ensured with inclusive and equitable access to reap benefit from digital transformation and AI system. The UN member states are encouraged to prepare policies and regulation to foster competition in safe, secure and trustworthy AI system and technologies associated to it. </span></p>

<p><span style="font-size:16px">Moreover, it has attached significance on continuation of debates on unfolding incidents and updates relating to the governance of AI in order for the international approaches to be abreast with evolution of AI systems and their uses. </span></p>

<p><span style="font-size:16px">The document read, &quot;It encourages continued efforts by the international community to promote inclusive research, mapping and analysis that benefit all parties on the potential impacts and applications that artificial intelligence systems and rapid technological change can have in the development of existing and new and emerging technologies and on accelerating the achievement of all 17 Sustainable Development Goals, and to inform how to develop, promote and implement effective, internationally interoperable safeguards, practices, standards and tools for artificial intelligence designers, developers, evaluators, deployers, users and other stakeholders for safe, secure and trustworthy artificial intelligence systems&quot;. </span></p>

<p><span style="font-size:16px">The member states are further called upon to close gender digital divide. They are called to &quot;adopt specific measures to close the gender digital divide and to ensure that particular attention is paid to access, affordability, digital literacy, privacy and online safety, to enhance the use of digital technologies, including artificial intelligence systems, and to mainstream a disability, gender and racial equality perspective in policy decisions and the frameworks that guide them&quot;. </span></p>

<p><span style="font-size:16px">In this regard, the UN News wrote: Ms Thomas-Greenfield, the US Ambassador and Permanent Representative to the UN, who introduced the draft resolution, highlighted the opportunity and the responsibility of the international community &ldquo;to govern this technology rather than let it govern us&rdquo;. While adopting the resolution, the UNGA reaffirmed international law, Charter of the UN and recollected UDHR. -- RSS</span></p>
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		'Article' => array(
			'id' => '20583',
			'article_category_id' => '1',
			'title' => 'Nepal's Credit Rating not Possible before Investment Summit',
			'sub_title' => '',
			'summary' => 'March 27: The government's initiative to complete Nepal's credit rating before the investment summit in April is unlikely to be fulfilled.',
			'content' => '<p><span style="font-size:18px">March 27: The government&#39;s initiative to complete Nepal&#39;s credit rating before the investment summit in April is unlikely to be fulfilled. Nepal&#39;s sovereign credit rating has not been done until now. The government is preparing to undertake the country&rsquo;s sovereign credit rating through the American credit rating company Fitch Rating with a grant assistance from the British government. </span></p>

<p><span style="font-size:18px">Experts say that the sovereign rating helps to depict the real economic and financial situation of Nepal and helps international investors get a clear picture of the investment environment of the country and the prospects of returns. Stakeholders have been urging for sovereign rating saying that the absence of the rating has hugely impacted foreign direct investment (FDI) prospects of Nepal. </span></p>

<p><span style="font-size:18px">The government was hopeful that the positive outcome of the rating can attract investors who attend the upcoming investment summit. </span></p>

<p><span style="font-size:18px">&quot;The rating work has not been started due to the lack of clarity on the scope of work between the British aid agency (Foreign Commonwealth and Development Office), which provides us with grants, and the Standard Chartered Bank, which provides technical support to it,&quot; Dhaniram Sharma, spokesperson for the Ministry of Finance, told New Business Age, adding, &ldquo;Therefore, the country rating is not possible before the investment summit scheduled for late April.&rdquo; </span></p>

<p><span style="font-size:18px">He said that the Government of Nepal is coordinating to forge an understanding between these two organizations. According to Sharma, Fitch Ratings is going to underake the country rating of Nepal with grant assistance from the British aid agency. </span></p>

<p><span style="font-size:18px">&quot;Fitch Ratings has pledged to prepare its report within three months after starting the work,&quot; said Sharma. Since the work has not started yet, the possibility of getting the report before the investment summit is not possible. </span></p>

<p><span style="font-size:18px">The government has announced that the investment summit will be held on April 28-29.</span></p>

<p><span style="font-size:18px">The government had mentioned in the budget announcement five years ago that it will opt for the country&rsquo;s sovereign credit rating. It took almost a year to find the donor for the rating. The government handed over the responsibility of rating to Fitch Ratings after DFIF pledged to financially support the credit rating of Nepal. </span></p>

<p><span style="font-size:18px">However, the credit rating was halted due to the onset of the coronavirus pandemic the same year as the government was apprehensive that the credit rating outcome would not be as expected due to the impact of the pandemic. </span></p>

<p><span style="font-size:18px">&quot;The government had to take measures to control imports due to problems such as a decrease in foreign exchange reserves and lack of liquidity in in the banking system,&quot; said Sharma, &quot;There was no particular benefit to the country by credit rating in such a situation.&quot; </span></p>

<p><span style="font-size:18px">Now the economy seems to have revived to some extent. As the government is preparing to hold the investment summit, it is trying to advance the work of country rating again.</span></p>
',
			'published' => true,
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			'description' => '',
			'sortorder' => '20310',
			'image' => '20240327115633_20240125023341_fitch-ratings-1671551049.jpg',
			'article_date' => '2024-03-27 11:53:46',
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	(int) 1 => array(
		'Article' => array(
			'id' => '20582',
			'article_category_id' => '1',
			'title' => 'Nepal in AIIB’s ‘Priority’ List for Investment',
			'sub_title' => '',
			'summary' => 'March 26: The Asian Infrastructure Investment Bank (AIIB) has said it accords top priority to Nepal.',
			'content' => '<p><span style="font-size:18px">March 26: The Asian Infrastructure Investment Bank (AIIB) has said it accords top priority to Nepal. A visiting high-level delegation from the AIIB said this during a meeting with Finance Minister Barshaman Pun, according to the Minister&#39;s Secretariat. </span></p>

<p><span style="font-size:18px">On the occasion, Finance Minister Pun urged the AIIB for scaling up its investment in Nepal&#39;s infrastructure development and other projects. In reply, AIIB Director RMP Rathnayake, who leads the delegation, praised Nepal&#39;s endeavours for investment policy reforms and for their enhancement. He pledged to adopt a policy of increasing investment in Nepal in the days to come on the basis of the availability of resources. </span></p>

<p><span style="font-size:18px">The minister also urged the AIIB for a partnership with Nepal&#39;s private sector as per its policy of mobilizing its 50 percent capital in partnership with the private sector. In response, the delegation chief suggested about the possibility for the collaboration with Nepal&#39;s private sector by selecting multi-year projects. </span></p>

<p><span style="font-size:18px">On the occasion, the finance minister invited the AIIB to the Third Nepal Investment Summit that Nepal is scheduled to host on April 28-29. Director Rathnayake said a high-level participation will be there from the AIIB in the Summit. </span></p>

<p><span style="font-size:18px">The minister utilised the meeting to call on the AIIB for ensuring provisions to provide a concessional loan to Nepal and middle-income developing countries. He informed the delegation that Nepal has been deprived of leveraging expected benefits from the AIIB due to its relatively high interest rates. </span></p>

<p><span style="font-size:18px">&quot;Despite being the AIIB&rsquo;s founding member, Nepal has failed to take expected benefits from its investments due to the high interest rate,&quot; he said. </span></p>

<p><span style="font-size:18px">Stating that multiple projects of infrastructure development are to be carried out in Nepal, he insisted on concessions on AIIB borrowings to Nepal. The finance minister said that the government accords top priority to the infrastructure development and it is required to source out the funds due to its limited internal resources. </span></p>

<p><span style="font-size:18px">The minister advised the AIIB to invest in Nepal&#39;s infrastructure development, hydroelectricity, tourism and information technology sectors, and the areas of relative benefits.</span></p>

<p><span style="font-size:18px">He apprised the delegation that Nepal has signed an agreement with India to supply 10,000 megawatts of electricity and added that there is no market issue for power to be generated in Nepal. Likewise, as per the power trade agreement between Nepal and Bangladesh, Nepal will be soon exporting 40 megawatts of electricity to Bangladesh. </span></p>

<p><span style="font-size:18px">Sharing about the Nepal&#39;s process to graduate from the least developed country to a developing country by 2026, the minister sought diversifications of AIIB investment in Nepal. Similarly, stating about Nepal&#39;s plan to mobilise the climate change finance in Nepal&#39;s development projects, he also urged for the AIIB support towards that end. </span></p>

<p><span style="font-size:18px">The AIIB has invested USD 40 million in the under-construction 216-MW Upper Trishuli-1 hydroelectricity project. It has also invested in some under-construction transmission lines in Lumbini and Karnali provinces. -- RSS</span></p>
',
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			'modified' => '2024-03-27',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20309',
			'image' => '20240327111737_d30810c1.jpeg',
			'article_date' => '2024-03-27 11:15:41',
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	(int) 2 => array(
		'Article' => array(
			'id' => '20581',
			'article_category_id' => '1',
			'title' => 'Weather to Remain Cloudy for Three more Days, Rainfall Expected in Western Nepal    ',
			'sub_title' => '',
			'summary' => 'March 27: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has predicted light rain along with lightning for the next three days in the hill regions of Koshi, Bagmati and Gandaki provinces. ',
			'content' => '<p><span style="font-size:18px">March 27: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has predicted light rain along with lightning for the next three days in the hill regions of Koshi, Bagmati and Gandaki provinces. </span></p>

<p><span style="font-size:18px">According to the division, there is a possibility of rainfall in the hill areas of the far-western and mid-western regions from today. Meteorologist Saroj Pudasaini said there is a possibility of rain in the hill regions of different provinces and snowfall in the high hills and mountainous areas. </span></p>

<p><span style="font-size:18px">&quot;The influence of westerly wind and local wind in Nepal has resulted in partly cloudy weather in the hill areas of the country including Koshi province,&quot; he said, adding, &quot;Although there had been rainfall in the eastern parts of the country recently, the western region was yet to experience rainfall in the past few days. Now, the rainfall is shifting towards the western parts of Nepal.&quot; </span></p>

<p><span style="font-size:18px">According to the division, light rainfall with thunder and lightning is likely to occur at a few places of the hill regions of Koshi, Bagmati and Gandaki provinces and at one or two places of the Madhes province and the rest of the hill regions in next 24 hours. -- RSS</span></p>
',
			'published' => true,
			'created' => '2024-03-27',
			'modified' => '2024-03-27',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20308',
			'image' => '20240327104953_sno.jpg',
			'article_date' => '2024-03-27 10:48:49',
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	(int) 3 => array(
		'Article' => array(
			'id' => '20580',
			'article_category_id' => '1',
			'title' => 'Shree Airlines Adds Two More Aircraft to its Fleet',
			'sub_title' => '',
			'summary' => 'March 26: Shree Airlines has added two more 80-seater aircraft to its fleet. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">March 26: Shree Airlines has added two more 80-seater aircraft to its fleet. The private sector airlines company has brought the &#39;Dash 8&#39; planes manufactured by De Havilland Aircraft of Canada Limited (DHC).&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The two aircraft with call sign 9N-AOK and 9N-AOL respectively landed in Kathmandu on Tuesday, said Anil Mananadhar, the manager of Shree Airlines. These aircraft were operated by Horizon Air and Alaska Air based in America before this.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Manandhar said both the planes will be used for commercial flights soon after completing the processes required by the Civil Aviation Authority of Nepal (CAAN).</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">With the new addition, Shree Airlines now has a fleet of 10 aircraft. It also has eight helicopters in operation.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Shree Airlines started operating regular flights to various destinations in Nepal in 2017, using two 50-seater CRJ 200 aircraft and two 70-seater RJ 700 jet planes. The airlines company that brought additional two 80-seater aircraft in 2019 and again in 2022 has been expanding its flight destinations.</span> -- <span style="font-size:14.0pt">RSS</span></span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2024-03-26',
			'modified' => '2024-03-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20307',
			'image' => '20240326071401_67174585_2331425296894015_8605165911831216128_n.jpg',
			'article_date' => '2024-03-26 19:12:59',
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	(int) 4 => array(
		'Article' => array(
			'id' => '20579',
			'article_category_id' => '1',
			'title' => 'Decline in Renewal of Insurance Policies Impacts Business of Life Insurance Companies ',
			'sub_title' => '',
			'summary' => 'March 26: The business of life insurance companies has decreased in mid-February to mid-March of the current fiscal year.',
			'content' => '<p><span style="font-size:18px">March 26: The business of life insurance companies has decreased in mid-February to mid-March of the current fiscal year.</span></p>

<p><span style="font-size:18px">Although the collection of first-time insurance fee increased in the review month, the overall business declined due to the decline in renewal of insurance policies. According to the Nepal Insurance Authority, 14 life insurance companies collected insurance fees of Rs 11.65 billion from the sale of new insurance policies and the renewal of old policies in mid-February to mid-March. </span></p>

<p><span style="font-size:18px">Compared to the previous one-month period, collection of insurance fees of the life insurance companies decreased by about Rs 1 billion. In mid-January to mid-February, the insurance companies had collected Rs 12.66 billion in insurance fees. </span></p>

<p><span style="font-size:18px">In mid-February to mid-March, life insurance companies issued a total of 415,676 insurance policies and collected Rs 2.55 billion as first-time insurance fee. Similarly, the authority said that the companies collected insurance fee of Rs 9.95 billion from the renewal of insurance policies. </span></p>

<p><span style="font-size:18px">In mid-January to mid-February, the insurance companies had issued a total of 448,000 insurance policies and collected Rs 2.29 billion as the first-time insurance fee. Similarly, they collected insurance fee of Rs 10.36 billion from renewal. Nepal Life Insurance Company collected the highest insurance fee in mid-February to mid-March. The company collected Rs 3.9 billion in the review month.</span></p>
',
			'published' => true,
			'created' => '2024-03-26',
			'modified' => '2024-03-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20306',
			'image' => '20240326110912_INSURANCE-COVERAGE.jpg',
			'article_date' => '2024-03-26 11:08:02',
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	(int) 5 => array(
		'Article' => array(
			'id' => '20578',
			'article_category_id' => '1',
			'title' => 'NPC Issues Guidelines to Discourage Inclusion of Random Plans in Budget',
			'sub_title' => '',
			'summary' => 'March 26: The National Planning Commission (NPC) has prohibited the government from including random plans in the budget. ',
			'content' => '<p><span style="font-size:18px">March 26: The National Planning Commission (NPC) has prohibited the government from including random plans in the budget. </span></p>

<p><span style="font-size:18px">While the government is doing its homework to issue the budget for the upcoming fiscal year, the NPC has had made it clear that the projects that are not included in the National Project Bank will not be included in the budget.</span></p>

<p><span style="font-size:18px">In the past, the budget implementation used to be affected due to due to pressure and influence from the ward chairmen to the parliament to include projects of vested interests in the budget. </span></p>

<p><span style="font-size:18px">This time, the National Planning Commission has taken strict measures to eliminate the past practice of haphazard planning. After realizing that the inclusion of small and petty plans in the budget without proper study caused problems in implementation of such plans every year, the National Planning Commission issued guidelines and frameworks for the upcoming budget and has made strict provisions not to include such plans in the budget.</span></p>

<p><span style="font-size:18px">As per the Financial Procedures and Financial Responsibility Regulations, the NPC has asked all central agencies to send details of the annual budget and program and medium-term expenditure structure only by entering the details of the project in the National Project Bank by themselves or through their subordinate offices or projects. </span></p>

<p><span style="font-size:18px">There is a clear provision in the guidelines that no budget can be allocated for projects that are not included in the National Project Bank. From now onwards, the government officials who are engaged in the preparation of the budget will not be allowed to allocate the budget for the plans that have not been entered in the National Project Bank. </span></p>

<p><span style="font-size:18px">Dhaniram Sharma, joint secretary of the Ministry of Finance, said that the new guidelines have discouraged the practice of randomly recommending plans in the budget. </span></p>

<p><span style="font-size:18px">For programs and projects that are implemented with the cooperation and coordination of more than one federal ministry or agency, the National Planning Commission has made guidelines so that the programs can only be proposed through coordination and cooperation of all related agencies. Ministries will have to propose budgets by prioritizing programs and projects that can be completed within the first quarter of the year. </span></p>

<p><span style="font-size:18px">The NPC has asked the ministries to be realistic on the annual plan and to propose the budget so that there is no need to revise the program in the middle of the year.</span></p>
',
			'published' => true,
			'created' => '2024-03-26',
			'modified' => '2024-03-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20305',
			'image' => '20240326110745_budget.jpg',
			'article_date' => '2024-03-26 11:06:21',
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	(int) 6 => array(
		'Article' => array(
			'id' => '20577',
			'article_category_id' => '1',
			'title' => 'First-phase Construction of Asian Highway Begins',
			'sub_title' => '',
			'summary' => 'March 26: The first-phase of construction of the Asian Highway connecting 32 countries in the continent has started in Nepal. ',
			'content' => '<p><span style="font-size:18px">March 26: The first-phase of construction of the Asian Highway connecting 32 countries in the continent has started in Nepal. </span></p>

<p><span style="font-size:18px">Under this project, a 120-kilometer four-lane road from Kakarvitta to Laukahi of Sunsari is being constructed in the first phase with the financial support of the Asian Development Bank, the state-owned RSS reported. </span></p>

<p><span style="font-size:18px">The government has handed the responsibility of the construction work to Jain CR F G Tundi Company. The company has started removing trees from Sitapuri of Kamal rural municipality in Jhapa district to Devikhola of Itahari. </span></p>

<p><span style="font-size:18px">Hari Prasad Parajuli, a representative of the construction company, said that around 6,737 trees would be removed along this section. He told RSS that the company has reached an agreement with the government to complete the road construction within three years. </span></p>

<p><span style="font-size:18px">The 120-km-long four-lane roadway falls under a section of the East-West Highway and it connects Jhapa, Morang and Sunsari. It is being constructed at an investment of Rs 28.17 billion from the Asian Development Bank. The highway is to be expanded along with the construction of 71 new bridges, added Parajuli. </span></p>

<p><span style="font-size:18px">The Asian Highway project was initiated by the United Nations in 1959 with the aim of promoting the development of international road transport in the region. During the first phase of the project (1960&ndash;1970) considerable progress was achieved, however, progress slowed down when financial assistance was suspended in 1975. </span></p>

<p><span style="font-size:18px">Altogether 32 countries have signed agreements to allow the highway to cross the continent and also reach to Europe. Some of the countries taking part in the highway project are India, Sri Lanka, Pakistan, China, Iran, Japan, South Korea, Nepal and Bangladesh. </span></p>

<p><span style="font-size:18px">Most of the funding comes from the larger, more advanced Asian nations such as China, South Korea and Singapore as well as international agencies such as the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB).</span></p>
',
			'published' => true,
			'created' => '2024-03-26',
			'modified' => '2024-03-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20304',
			'image' => '20240326110558_20240325093741_highway (1).jpg',
			'article_date' => '2024-03-26 11:04:39',
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	(int) 7 => array(
		'Article' => array(
			'id' => '20576',
			'article_category_id' => '1',
			'title' => 'Possibility of Load Shedding from Next Week',
			'sub_title' => '',
			'summary' => 'March 26: India’s hesitation to renew the agreement to allow Nepal to purchase electricity from its electricity trading market (Indian Energy Exchange) has heightened the risk of load shedding in Nepal from next week.',
			'content' => '<p><span style="font-size:18px">March 26: India&rsquo;s hesitation to renew the agreement to allow Nepal to purchase electricity from its electricity trading market (Indian Energy Exchange) has heightened the risk of load shedding in Nepal from next week. </span></p>

<p><span style="font-size:18px">According to the Nepal Electricity Authority (NEA), the contract, which has to be renewed every year, is expiring on March 31. Officials of the NEA say that even though Nepal has been urging India for renewal of the contract since the last three months, the concerned bodies of India have not shown any interest for renewal.</span></p>

<p><span style="font-size:18px">&quot;Indian officials have hinted verbally that the contract cannot be renewed under the pretext of the upcoming Lok Sabha elections in India,&quot; said a high-ranking source at the NEA on condition of anonymity. </span></p>

<p><span style="font-size:18px">According to the official, it will be challenging for the NEA to manage electricity for the next one and a half months as Nepal&#39;s domestic electricity production will not increase until mid-May.</span></p>

<p><span style="font-size:18px">&quot;India had not delayed the renewal of contract in the past,&quot; said the source. India gave the permission to Nepal to import electricity from the Indian Energy Exchange for the first time in March 2021. </span></p>

<p><span style="font-size:18px">According to the agreement, Nepal can import electricity through Dhalkebar-Muzaffarpur International Transmission Line and Mahendranagar-Tanakpur International Transmission Line. </span></p>

<p><span style="font-size:18px">Officials of the NEA said that although India had been renewing the contract without any issues in the past, this year it has indicated that it cannot be renewed on the pretext of elections. In India, the Lok Sabha elections are being held in different stages for 6 weeks starting from April 17. </span></p>

<p><span style="font-size:18px">&quot;There is a state of confusion due to non-renewal of the agreement,&quot; Chandan Kumar Ghosh, spokesperson for the NEA, told New Business Age, &quot;But we are hopeful, India will renew the agreement because providing electricity to Nepal will not affect the availability of electricity in India.&rdquo; </span></p>

<p><span style="font-size:18px">According to him, if the contract is not renewed, there will be a situation where electricity supply to the households and industries will have to be halted. </span></p>

<p><span style="font-size:18px">According to the NEA, it imports about 600 MW of electricity from India in winter. This is about one third of the demand. According to the authority, the peak hour demand has now reached 1,885 MW. </span></p>

<p><span style="font-size:18px">&quot;If one-third of the demand of electricity is not available, there will be a situation of load shedding,&quot; said Ghosh. In such a situation, he indicated that industrial customers may experience power cuts more than household consumers. When there is a shortage of electricity, the authority gives priority to domestic customers. </span></p>

<p><span style="font-size:18px">Although Nepal sells surplus electricity to India during the rainy season, it has to import electricity from India in the winter to meet the domestic demand. Most of the hydropower projects in Nepal are run-of-the-river type. Such projects produce only one-third of their capacity in winter. </span></p>

<p><span style="font-size:18px">Although India has indicated that it will not renew the agreement due the Lok Sabha elections, it is speculated that India&rsquo;s reluctance to renew the agreement may be the result of New Delhi&#39;s dissatisfaction with the latest change in the power equation of Nepal. The Indian media and analysts have been saying that the coalition government of the CPN (UML) and CPN (Maoist Center) was instigated by China. Prime Minister Pushpa Kamal Dahal broke the alliance with the Nepali Congress on March 7 and formed a new alliance with the UML and other fringe parties.</span></p>
',
			'published' => true,
			'created' => '2024-03-26',
			'modified' => '2024-03-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '20303',
			'image' => '20240326103256_20220511083106_1652136985.Clipboard20.jpg',
			'article_date' => '2024-03-26 10:31:02',
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	(int) 8 => array(
		'Article' => array(
			'id' => '20575',
			'article_category_id' => '1',
			'title' => 'Government Starts Issuing Climbing Permits for Spring Expedition',
			'sub_title' => '',
			'summary' => 'March 26: The Department of Tourism has started issuing mountaineering permits for spring mountaineering season.    ',
			'content' => '<p><span style="font-size:18px">March 26: The Department of Tourism has started issuing mountaineering permits for spring mountaineering season. </span></p>

<p><span style="font-size:18px">A total of 33 people have already taken permission to climb four different mountains this season, said Director of Adventure Tourism and Mountaineering Branch of the department, Rakesh Gurung. </span></p>

<p><span style="font-size:18px">Among them, 24 climbers have obtained permits to climb Mt Annapurna, three for Mt Ama Dablam, five for Himlung, and one for Jugal. The department will start issuing climbing permits for the world&#39;s highest peak, Mount Everest, from Tuesday.</span></p>

<p><span style="font-size:18px">According to the department, arrangements have been made for mountaineers to make online bookings for climbing. </span></p>

<p><span style="font-size:18px">Spring is considered the ideal season for climbing mountains, especially Mt Everest. The government charges higher fees during the spring season. As per the department, a tourist has to pay USD 11,000 per person to climb Mount Everest.</span></p>

<p><span style="font-size:18px">Last year, the government had collected over Rs 474.6 million in revenue from more than 900 climbers from different countries. Altogether 414 mountains and peaks of Nepal are open for expedition. <em>(With inputs from RSS)</em></span></p>
',
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			'sortorder' => '20302',
			'image' => '20240326095408_20240325094813_20220516042550_expedition-in-nepal.jpg',
			'article_date' => '2024-03-26 09:52:27',
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	(int) 9 => array(
		'Article' => array(
			'id' => '20574',
			'article_category_id' => '1',
			'title' => 'Court Acquits Cricketers in Match-Fixing Case',
			'sub_title' => '',
			'summary' => 'March 26: The Kathmandu District Court has acquitted five people, including cricketer Adil Ansari and former national cricket player Mahaboob Alam, who were accused of match-fixing.     ',
			'content' => '<p><span style="font-size:18px">March 26: The Kathmandu District Court has acquitted five people, including cricketer Adil Ansari and former national cricket player Mahaboob Alam, who were accused of match-fixing. A bench of Judge Kamal Prasad Pokharel on Monday acquitted five people held on the charge of match fixing, arguing that the petitioners&rsquo; claim was not sufficient to prove them guilty. </span></p>

<p><span style="font-size:18px">According to Chandra Prasad Panthi, information officer of the District Court, Kathmandu, the court acquitted the five persons after the claims made by the government against them could not be substantiated. The Central Investigation Bureau (CIB) of Nepal Police had arrested cricketers Mahabub Alam and Mohammad Adil Ansari on charge of spot fixing and match fixing on January 23 last year. They were later released on a bail of Rs 300,000 each. </span></p>

<p><span style="font-size:18px">The franchise-club based T-20 league was held at the TU cricket ground in Kirtipur from December 24, 2022 to January 11, 2023. The match was organized by Cricket Association of Nepal (CAN) in strategic and commercial partnership with India&#39;s Seven3 Sports Pvt. Ltd. </span></p>

<p><span style="font-size:18px">The CIB had submitted its investigation report to the Office of the District Attorney in mid-February last year recommended action against 12 people involved in the spot fixing and match fixing scam. The 12 people, including the two cricketers, recommended for prosecution were accused of helping to alter the results of the match, indulging in match fixing and inciting others to be involved in the illegal act.</span></p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '20573',
			'article_category_id' => '1',
			'title' => 'PM urges AIIB for Concessional Loan to Nepal ',
			'sub_title' => '',
			'summary' => 'March 26: Prime Minister Pushpa Kamal Dahal has urged the Asian Infrastructure Investment Bank (AIIB) to ensure a policy for providing concessional loan to Nepal. ',
			'content' => '<p><span style="font-size:18px">March 26: Prime Minister Pushpa Kamal Dahal has urged the Asian Infrastructure Investment Bank (AIIB) to ensure a policy for providing concessional loan to Nepal. </span></p>

<p><span style="font-size:18px">During a courtesy meeting with a delegation led by RMP Rathnayake, the AIIB director, Prime Minister Dahal said, &quot;Nepal still needs concessions in borrowings. In fact, this market rate pricing is restricting Nepal to access to AIIB financing. As you are policy makers, I urge you all to consider about this.&quot; </span></p>

<p><span style="font-size:18px">Stating the government is focused on achieving a high economic growth target simultaneously with good governance, institutional development, social justice and prosperity, the prime minister said, Nepal is expecting for the AIIB&#39;s support in financing, technical assistance, knowledge sharing and mobilizing private capital. </span></p>

<p><span style="font-size:18px">The PM said currently there are a few projects under AIIB investment in Nepal in the energy sector and there are ample possibilities for investment in hydropower, tourism, information technology and other infrastructure projects. He urged the AIIB to consider for the investment in these areas. </span></p>

<p><span style="font-size:18px">&quot;Nepal has reached an agreement to export 10,000 megawatts of electricity to India and to Bangladesh as well. This has paved the way for Nepal&#39;s energy trade,&quot; he said. Recalling about the Nepal&#39;s schedule to host the Third Nepal Investment Summit next month (April 28-29), the prime minister expressed his hope that there would a high-level participation from the AIIB in the event, contributing to building an investment-friendly atmosphere for areas of priorities in Nepal. </span></p>

<p><span style="font-size:18px">He also appraised the delegation that Nepal has revised its policies aiming to promote private and foreign investment and urged the AIIB to investment confidently in Nepal. The delegation led by Rathnayake comprised AIIB vice president and other senior officials. On the occasion, Rathnayake said AIIB accords top priority to Nepal as its founding member and the bank is positive for increasing its investment in its development endeavors. -- RSS</span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '20569',
			'article_category_id' => '1',
			'title' => 'Tea Export Plan to China in Peril ',
			'sub_title' => '',
			'summary' => 'March 25: It has been more than a century and a half since Nepal started cultivation of tea.',
			'content' => '<p><span style="font-size:18px">March 25: It has been more than a century and a half since Nepal started cultivation of tea. The tea produced here is also exported to foreign countries. </span></p>

<p><span style="font-size:18px">However, Nepali tea producers have to rely on the Indian market for export. </span></p>

<p><span style="font-size:18px">Although the Government of Nepal planned to export tea to China to diversify the tea market and break the monopoly of the Indian market, the plan has failed to materialize. Since the government&rsquo;s plan could not be materialized, Nepal&rsquo;s tea market has not been able to expand due to its dependence on India. </span></p>

<p><span style="font-size:18px">According to the National Tea and Coffee Development Board, tea produced in Nepal is exported to 38 countries in the world including China, America, Europe through some private companies. However, stakeholders say that it is not enough to break the monopoly of the Indian market. </span></p>

<p><span style="font-size:18px">They have recommended the government to take a G2G (Government-to-Government) initiative. </span></p>

<p><span style="font-size:18px">The board&rsquo;s Director Dr Deepak Khanal said that although tea production has improved a lot compared to the past, Nepal has not made satisfactory progress in its efforts to expand the market. </span></p>

<p><span style="font-size:18px">According to him, even now the biggest problem of Nepal&rsquo;s tea industry is the lack of market and monopoly of Indian market. He argues that the export of only 15 percent to European and American markets, apart from India, confirms that Nepali tea has not yet found a market. </span></p>

<p><span style="font-size:18px">According to him, the export of tea to countries other than India is possible through the personal relationship of businessmen. </span></p>

<p><span style="font-size:18px">According to the data of the board, Nepal exported 12,496 metric tons of tea worth Rs 3.43 billion in the fiscal year 2078/79. Out of that volume, 12, 096 metric tons of tea worth Rs 3.05 billion were exported to the Indian market. Nepalese CTC and orthodox tea are being exported to some states of India including West Bengal. Nepal produces more than 26,300 metric tons of annually on of 20,200 hectares of land. It includes 6,500 metric tons of orthodox tea. </span></p>

<p><span style="font-size:18px">&ldquo;We planned to export to China two years ago through the G2G process to break the monopoly of the Indian market, but it has been stalled for now,&#39;&#39; Khanal told New Business Age. He said that the plan stalled because the government did not take diplomatic initiatives to export tea through the G2G process. </span></p>

<p><span style="font-size:18px">Khanal says that Nepali tea, which is sold at Rs 650 per kg in the Indian market, can be sold for as high as Rs 3700 if it is delivered to China. </span></p>

<p><span style="font-size:18px">Chairman of Gorkha Tea State Pvt. Ltd. Uday Chapagain says that the government should open the Chinese market as soon as possible to eliminate Nepal&rsquo;s dependence on India for the tea market. </span></p>

<p><span style="font-size:18px">According to him, in order to expand the market of Nepali tea in countries other than India, it is also necessary to spread the message of quality products without chemical pesticides to the farmers. </span></p>

<p><span style="font-size:18px"><strong>100 Tons Order from China</strong> </span></p>

<p><span style="font-size:18px">Meanwhile, in a recent news published by the state-owned news agency RSS, it is mentioned that the Chinese businessmen who visited the tea plantations and industries of Ilam have ordered more than 100 metric tons of tea. Chinese tea traders had reached there a few days ago on the initiative of Ilam Municipality and Ilam Chamber of Commerce and Industry. </span></p>

<p><span style="font-size:18px">Tea businessman Chiran Dahal reportedly coordinated to bring the Chinese tea traders. On that occasion, Dahal said that there was a discussion between Chinese businessmen and local tea businessmen and farmers about the purchase of tea and the possibility of exporting tea to China.</span></p>
',
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			'created' => '2024-03-25',
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			'description' => '',
			'sortorder' => '20296',
			'image' => '20240325020040_Tea.jpg',
			'article_date' => '2024-03-25 13:57:27',
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	(int) 12 => array(
		'Article' => array(
			'id' => '20568',
			'article_category_id' => '1',
			'title' => 'Number of People Living in their Own Houses Decreasing',
			'sub_title' => '',
			'summary' => 'March 25: The percentage of the population living in their own houses in the country has decreased, according to the latest data of the government.',
			'content' => '<p><span style="font-size:18px">March 25: The percentage of the population living in their own houses in the country has decreased, according to the latest data of the government. The National Census 2078 report shows that 86 percent of the families in Nepal live in their own houses. </span></p>

<p><span style="font-size:18px">The census report under the heading of Housing and Household Dynamics in Nepal, which was published by the National Statistics Office a few days ago, shows that the number of families living in their own houses at present is less than the figures compared to 30 years ago. </span></p>

<p><span style="font-size:18px">According to the office, the number of families having their own houses was 92.6 percent in 2048 BS. By 2078 BS, it has decreased to 86 percent. There has been an increase in the number of families living on rent in the last 30 years. </span></p>

<p><span style="font-size:18px">In 2048 BS, the number of families living on rent was 4.7 percent, but by 2078 BS, the number of such families has reached 12.8 percent. This number has been stable for the last one decade. Even in 2068, the number of families living on rent was 12.8 percent. </span></p>

<p><span style="font-size:18px">According to the office, the number of families living on rent in the municipality is 18 percent. Similarly, data shows that 81 percent of the families in the municipality are living in their own houses/apartments. Most of the families living in the municipality have their own house/accommodation. </span></p>

<p><span style="font-size:18px">Meanwhile, 97 percent of the families living in the villages own their own houses. The office has also published the number of families living on rent in the provinces. The number of families living on rent is high in Bagmati Province, while it is lowest in Madhesh Province. </span></p>

<p><span style="font-size:18px">According to the office, the number of families living on rent in Madhesh Province is 2.3 percent. According to this data, more people are living on rent in the valley due to the services and facilities centered in the federal capital Kathmandu as well as opportunities from higher education and health facilities. </span></p>

<p><span style="font-size:18px">District-wise, the number of people living in their own houses in Kathmandu is 43 percent. Recently, the number of people living in concrete houses has also increased. This is seen when comparing the data from 2058 BS and 2078 BS. According to the office, the number of families with concrete residential houses in 2058 was 36.6 percent. By 2078, it has increased to 76.5 percent.</span></p>
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			'sortorder' => '20295',
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	(int) 13 => array(
		'Article' => array(
			'id' => '20567',
			'article_category_id' => '1',
			'title' => 'National Natural Resources and Fiscal Commission Recommends Fiscal Equalization Grant for Provinces',
			'sub_title' => '',
			'summary' => 'March 25: The National Natural Resources and Fiscal Commission has recommended the government to allocate fiscal equalization grant worth Rs 60 billion to the provinces and Rs 88 billion to the local levels for the upcoming fiscal year. ',
			'content' => '<p><span style="font-size:16px">March 25: The National Natural Resources and Fiscal Commission has recommended the government to allocate fiscal equalization grant worth Rs 60 billion to the provinces and Rs 88 billion to the local levels for the upcoming fiscal year. The recommendation was based on the provisions of minimum grants, formula-based grants, and performance-based grants. </span></p>

<p><span style="font-size:16px">The grant is to be sourced from the Federal Consolidated Fund. The constitutional provision mandates that the necessity of expenditures and revenue capacity of provincial governments and local levels be assessed while allocating fiscal equalization grants from the Federal Consolidated Fund. </span></p>

<p><span style="font-size:16px">Out of the total Rs 60 billion of the fiscal equalization grant that has been recommended for the provinces in the upcoming fiscal year, the minimum equalization grant is equivalent to Rs 15 billion, the formula-based equalization grant is equivalent to Rs 42.6 billion and the grant given on the basis of performance is equivalent to Rs 2.40 billion. </span></p>

<p><span style="font-size:16px">The commission has recommended providing Rs 8. 94 billion to Koshi Province, Rs 7. 79 billion to the Madhesh Province, Rs 8.24 billion to Bagmati Province and Rs 7.63 billion to Gandaki province. Similarly, the commission has recommended providing Rs 8.28 billion to Lumbini Province, Rs 10.36 billion to Karnali Province and Rs 8.72 billion to Sudurpaschim province as the fiscal equalization grant. </span></p>

<p><span style="font-size:16px">Likewise, the commission has also recommended the federal government to provide Rs 88 billion as the fiscal equalization grant to the local levels in the next fiscal year. The recommended minimum equalization grant to the local levels for the next fiscal year is Rs 26.68 billion, the formula-based equalization grant is Rs 57.79 billion and the grant to be provided based on performance is Rs 3.52 billion. -- RSS</span></p>
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			'created' => '2024-03-25',
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			'article_date' => '2024-03-25 13:13:28',
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	(int) 14 => array(
		'Article' => array(
			'id' => '20566',
			'article_category_id' => '1',
			'title' => 'UN General Assembly adopts Resolution for Safe, Secure and Trustworthy AI ',
			'sub_title' => '',
			'summary' => '',
			'content' => '<p><span style="font-size:16px">March 25: The seventy-eighth session of the United Nations General Assembly (UNGA) has adopted a resolution on artificial intelligence seeking its &#39;safe, secure and trustworthy&#39; promotion. The UNGA on March 21 adopted the significant resolution, recognizing proliferation of AI and its impact on achievement of SDGs and seeking global consensus for safe, secure and trustworthy AI. </span></p>

<p><span style="font-size:16px">According to the document, the safe, secure and trustworthy AI systems are human centric which fully respect, promote and protect human rights and international law, maintain privacy, enable progress towards to SDGs and sustainable development in three fronts- economic, social and environment. Similarly, it promotes peace and digital divide within and among countries, the resolution mentioned. </span></p>

<p><span style="font-size:16px">The resolution underlines, &quot;AI systems in the non-military domain, whose life cycle includes the stages: pre-design, design, development, evaluation, testing, deployment, use, sale, procurement, operation and decommissioning, are such that they are human-centric, reliable, explainable, ethical, inclusive, in full respect, promotion and protection of human rights and international law.&quot; </span></p>

<p><span style="font-size:16px">The UN has called upon the member states and invited stakeholders to take action for cooperation and extend assistance to the developing countries so that they could be ensured with inclusive and equitable access to reap benefit from digital transformation and AI system. The UN member states are encouraged to prepare policies and regulation to foster competition in safe, secure and trustworthy AI system and technologies associated to it. </span></p>

<p><span style="font-size:16px">Moreover, it has attached significance on continuation of debates on unfolding incidents and updates relating to the governance of AI in order for the international approaches to be abreast with evolution of AI systems and their uses. </span></p>

<p><span style="font-size:16px">The document read, &quot;It encourages continued efforts by the international community to promote inclusive research, mapping and analysis that benefit all parties on the potential impacts and applications that artificial intelligence systems and rapid technological change can have in the development of existing and new and emerging technologies and on accelerating the achievement of all 17 Sustainable Development Goals, and to inform how to develop, promote and implement effective, internationally interoperable safeguards, practices, standards and tools for artificial intelligence designers, developers, evaluators, deployers, users and other stakeholders for safe, secure and trustworthy artificial intelligence systems&quot;. </span></p>

<p><span style="font-size:16px">The member states are further called upon to close gender digital divide. They are called to &quot;adopt specific measures to close the gender digital divide and to ensure that particular attention is paid to access, affordability, digital literacy, privacy and online safety, to enhance the use of digital technologies, including artificial intelligence systems, and to mainstream a disability, gender and racial equality perspective in policy decisions and the frameworks that guide them&quot;. </span></p>

<p><span style="font-size:16px">In this regard, the UN News wrote: Ms Thomas-Greenfield, the US Ambassador and Permanent Representative to the UN, who introduced the draft resolution, highlighted the opportunity and the responsibility of the international community &ldquo;to govern this technology rather than let it govern us&rdquo;. While adopting the resolution, the UNGA reaffirmed international law, Charter of the UN and recollected UDHR. -- RSS</span></p>
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file not found!

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FOREX

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

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

Bullion

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

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

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