Import/Export

Nepal’s Trade Deficit Stands at Rs 1314.44 Billion

Jul 11, 2024 0 2 minutes 14 seconds to read

KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal…

Cost of Import of Food Items Via Birgunj Customs Office Doubles

May 01, 2023 0 2 minutes 1 seconds to read

Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal…

Rasuwagadhi Border Point Reopens

Apr 02, 2023 0 1 minutes 13 seconds to read

Rasuwagadhi border point, which was closed following the breakout of COVID-19 pandemic, has resumed its operation from…

Foreign Trade Shrinks Despite Import Ban Lift

Mar 23, 2023 0 2 minutes 2 seconds to read

Country’s foreign trade has decreased by 20.14 percent in the eight months of the current fiscal…

Nepal And India Agree To Prepare Modality To Export Electricity to Indian States Via Bihar

Mar 19, 2023 0 3 minutes 26 seconds to read

Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar…

Tea Export Surges By 30 Percent

Mar 03, 2023 0 1 minutes 46 seconds to read

The export of Nepali tea has increased by 30 percent. The export of Nepali tea has gone up by 29.9 percent in the first seven months of the current fiscal year compared to the same period last fiscal year, according to Trade and Export Promotion…

Volume and Price of Imported Apples Decline; Price Yet to Be Cheaper in the Market

Jan 29, 2023 0 1 minutes 52 seconds to read

Nepal has imported apples worth Rs 3.49 billion in the first six months of the current fiscal year. From the import of apples worth Rs 3.49 billion, the government has collected a revenue of Rs 400 million during the review…

Potato Import Plummets by 30,400 Metric Tons

Jan 08, 2023 0 3 minutes 11 seconds to read

Import of potato, a staple vegetable in Nepali kitchen, has decreased by 30,400 metric tons. In the current fiscal year, the country imported potatoes worth Rs 723 million less than last…

Import and Consumption of Aviation Fuel Shrink

Dec 26, 2022 0 2 minutes 35 seconds to read

Import and consumption of aviation fuel have decreased in the last five months of the current fiscal year in…

Exporters Demand Export Credit Insurance Facility

May 27, 2022 0 4 minutes 9 seconds to read

May 27: Export Credit Insurance (ECI) to cover the risk of non-payment of goods exported abroad is not yet available in…

Nepal’s Import Declines by Rs 20 Billion

May 26, 2022 0 3 minutes 47 seconds to read

May 26: Amid growing concerns over rising imports and the consequent pressure on foreign exchange reserves, the Department of Customs on Tuesday released promising…

India Imposes Ban on Export of Sugar

May 26, 2022 0 3 minutes 11 seconds to read

May 26: India has banned export of sugar within days after banning the export of wheat from the…

MPs Stress on Establishment of Industries to Substitute Import-Oriented Economy

May 22, 2022 0 2 minutes 43 seconds to read

May 22: Lawmakers of the ruling parties during the deliberations on the principles and priorities of the Appropriation Bill for the Fiscal Year 2022/23 on Friday argued that the principles and priorities were practical and scientific in…

India bans Export of Wheat

May 16, 2022 0 5 minutes 14 seconds to read

May 16: India banned the exports of wheat just a day after New Delhi declared a goal of setting a new record for shipment of…

Nepal Exporting Shoes to 17 Countries

May 09, 2022 0 2 minutes 35 seconds to read

May 9: Nepal has been exporting shoes manufactured in the country to 17 nations, including…

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			'id' => '21502',
			'article_category_id' => '268',
			'title' => 'Nepal’s Trade Deficit Stands at Rs 1314.44 Billion',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year. According to the Nepal Rastra Bank (NRB), such deficit had decreased 15.2 percent in the corresponding period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report based on eleven month&rsquo;s data unveiled by the NRB on Wednesday mentions that the export-import ratio decreased to 9.6 percent in the review period from 9.7 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">During the review period, merchandise exports decreased 3.0 percent to Rs 139.26 billion compared to a decrease of 22.7 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, exports to India decreased 4.5 percent while that to China increased 57.7 percent. Similarly, export to other countries decreased 1.7 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, bran, tea among others decreased, the NRB report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, merchandise imports decreased 1.8 percent to Rs 1453.70 billion compared to a decrease of 16 percent a year ago. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, imports from India decreased 3.1 percent while that from China increased 34.8 percent. Similarly, import from other countries decreased 3.1 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Imports of transport equipment, vehicle and spare parts, readymade garments, electrical equipment, aircraft spare parts, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on customs points, exports from Bhairahawa, Birgunj, Jaleswor, Krishnanagar, Mechi, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Birgunj, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani Customs Offices increased whereas imports from all the other major customs points decreased in the review period.</span></span></p>
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			'created' => '2024-07-11',
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			'id' => '17720',
			'article_category_id' => '268',
			'title' => 'Cost of Import of Food Items  Via Birgunj Customs Office Doubles ',
			'sub_title' => '',
			'summary' => 'Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 1: Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in the cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Information officer Ramchandra Dhakal, Nepal has imported food items worth NPR 28.91 billion during this period, whereas only NPR 12.18 billion was spent on the import of food items during same period in the previous fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, the import of paddy has taken the lead. Traders have increased the import of paddy after India fixed a quota of 6 lakh tons. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As most of the rice mills in Nepal rely on imported paddy from India, Nepal imported 2,88,000 tons of paddy in nine months through the Birgunj customs point.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This amount has risen significantly from 1,93,000 tons of paddy imported during the same period in the previous fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the import of other food items, except paddy, has decreased. Import of rice has fallen to 30,000 tons worth NPR 2.35 billion compared to the previous fiscal year&#39;s import of 37,000 tons worth NPR 2.37 billion. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the import of maize has decreased by 20 percent to 62,658 tons worth NPR 10.61 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The imposition of a quota system by India on wheat export has resulted in an 83 percent decline in wheat import, which has adversely affected the production of domestic industries. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Only 3,472 tons of wheat were imported via the Birgunj customs office during the first nine months of the current fiscal year compared to 20,422 tons during the same period last fiscal year. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Import of other food items such as millet has also decreased.</span></span></p>
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			'id' => '17429',
			'article_category_id' => '268',
			'title' => 'Rasuwagadhi Border Point Reopens ',
			'sub_title' => '',
			'summary' => 'Rasuwagadhi border point, which was closed following the  breakout of COVID-19 pandemic, has resumed its operation from Saturday. ',
			'content' => '<p><span style="font-size:18px">April 2: Rasuwagadhi border point, which was closed following the&nbsp; breakout of COVID-19 pandemic, has resumed its operation from Saturday.&nbsp;</span></p>

<p><span style="font-size:18px">In the presence of Secretary Madhukumar Marasini at the Ministry of Industry, Commerce and Supplies and Vice President of the Tibet Autonomous Region (TAR)of China Silang Nima, &nbsp;Nepali containers carrying goods made in Nepal left for Kerung via Rasuwagadhi&rsquo;s Miteri Bridge.&nbsp;</span></p>

<p><span style="font-size:18px">As per the recent agreement between Nepal and TAR, the Tatopani crossing will also be operational from May 1. The agreement was reached during a bilateral talks held in Lhasa on March 29.</span></p>

<p><span style="font-size:18px">After holding talks to open the border, a team of government officials including Secretary Marasini and Joint Secretary Jitendra Basnet at the Home Ministry had returned to Rasuwa via Rasuwagadhi border point.&nbsp;</span></p>

<p><span style="font-size:18px">Secretary Marasini informed that other border points with China will also be opened. &ldquo;Tatatopani border point will resume from May 1,&rdquo; said Marasini.&nbsp;</span></p>

<p><span style="font-size:18px">The resumption of Rasuwagadhi border point with China has made traders and businessmen happy and excited in the area, said Nepal Kerung Business Association Founder Chairman Man Bahadur Tamang. A total of 24 trucks loaded with Nepal-made products left for Kerung on Saturday.&nbsp;</span></p>

<p>&nbsp;</p>
',
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			'created' => '2023-04-02',
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		'Article' => array(
			'id' => '17348',
			'article_category_id' => '268',
			'title' => 'Foreign Trade Shrinks Despite Import Ban Lift ',
			'sub_title' => '',
			'summary' => 'Country’s foreign trade has decreased by 20.14 percent in the eight months of the current fiscal year. ',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:18px">March 23: Country&rsquo;s foreign trade has decreased by 20.14 percent in the eight months of the current fiscal year.&nbsp;</span></p>

<p><span style="font-size:18px">Despite the surge of the foreign exchange reserve, lifting of the ban on the import of luxurious goods and removal of 50 and 100 percent cash margin while opening letter of credit(LC), foreign trade has not improved.&nbsp;</span></p>

<p><span style="font-size:18px">Soaring inflation triggered by Russia-Ukraine war and high banking interest rates have badly affected the import and export, causing the international trade to drop compared to the last fiscal year.&nbsp;</span></p>

<p><span style="font-size:18px">In the first eight months of the current fiscal year Nepal&rsquo;s total foreign trade was Rs 1,163 billion compared to Rs 1456.48 billion in the last fiscal year, according to the Department of Customs. </span></p>

<p><span style="font-size:18px">The country&rsquo;s trade deficit has shrunk by 17.86 per cent to Rs 953 billion in the first eight months of the fiscal year compared to last year when the trade gap stood at Rs 1,160 billion.</span></p>

<p><span style="font-size:18px">Statistics released by the Department of Customs on Wednesday show that &nbsp;Nepal imported goods worth over Rs 1,058 billion in the review period, a decrease by 19.13 per cent compared to the imports over the same period last year. The goods were imported from over 158 countries.</span></p>

<p><span style="font-size:18px">Meanwhile, exports from the country stood at Rs 104 billion in the eight months of the current fiscal, down 29.07 per cent compared to the same review period last fiscal year.</span></p>

<p><span style="font-size:18px">In the review period, the imports to exports ratio increased by 14.02 per cent compared to last year in the first eight months of this fiscal year.</span></p>

<p><span style="font-size:18px">Nepal continues to have the highest trade deficit with its neighbours &mdash; India and China.<br />
According to the data, Nepal imported goods worth Rs 656.80 billion from the southern neighbour in the review period, while exports to India amounted to Rs 74 billion.</span></p>

<p><span style="font-size:18px">&nbsp;The trade deficit with India stood at Rs 582 billion in the review period. Meanwhile, the trade deficit with China stood at Rs 145.26 billion in the first eight months of the current fiscal year.</span></p>
',
			'published' => true,
			'created' => '2023-03-23',
			'modified' => '2023-03-23',
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			'description' => '',
			'sortorder' => '17083',
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	(int) 4 => array(
		'Article' => array(
			'id' => '17304',
			'article_category_id' => '268',
			'title' => 'Nepal And India Agree To Prepare Modality To Export Electricity to Indian States Via Bihar',
			'sub_title' => '',
			'summary' => 'Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">March 19: Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.&nbsp;&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The 14th meeting of the Nepal-India Power Exchange Committee concluded on March 17 at New Delhi, India, decided to prepare the modality for power export from Nepal to various states in India via Bihar within a month. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The meeting co-chaired by Executive Director of the Nepal Electricity Authority Kulman Ghising and member of Power System member of the Central Electricity Authority of India Ashok Kumar Rajput agreed to finalize the modality within a month for the same. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The agreement has ensured the additional market for the sale of surplus electricity during rainy season&quot;, Executive Director Ghising said.&nbsp; Kataiya (Bihar)-Kushaha (Nepal) and Raxaul-Parawanipur 132-KV transmission line are connected with Bihar.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">As per the Power Exchange Agreement, the meeting has determined new the price of per unit electricity at Rs 11.54 for the fiscal year 2022/23. The new rate is not on a take-or-pay modality. We have to pay the rate, only if we purchase electricity. This rate is cheaper than the current Indian market and we will get the same rate even during export;&rdquo; said Ghising. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">When the NEA made its first-ever effort to buy electricity from India through competitive bidding for long-term power supply in December last year, the Indian companies had proposed to sell power to Nepal at Rs 7.50 and Rs 8.70 per unit for February-March and April-May, respectively.&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The prices they quoted are higher than the rate agreed between Nepal and India during the Power Exchange Committee meeting.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Buying electricity from India&rsquo;s competitive market has been even more expensive. Up to INR 12 per unit has to be paid for the power on which an additional 1.5 Indian rupees is added towards tariff for transmission charges, according to the NEA. &ldquo;Hence, the rate fixed, at present, is cheaper than others,&rdquo; the power utility was quoted as saying in the statement.&nbsp;</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The NEA has been importing electricity from India&rsquo;s Bihar, Uttar Pradesh and Uttarakhand as per the electricity exchange agreement. Only Bihar and Uttar Pradesh are connected to Nepal through 132 KV transmission lines.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal imports electricity from India under three separate agreements. Nepal can import power from India based on the power exchange agreement, Mahakali Treaty and open competition in the Indian power market. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The electricity purchased in the open market is being imported through the 400kV Dhalkebar-Muzaffarpur cross-border double-circuit transmission line. Nepal also sells electricity in the Indian market through this power line.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal Electricity Authority traded surplus electricity worth Rs 8.4 billion to Indian since the beginning of the current fiscal year 2022/23 to till the date.&nbsp; </span></span></span></p>
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			'created' => '2023-03-19',
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	(int) 5 => array(
		'Article' => array(
			'id' => '17164',
			'article_category_id' => '268',
			'title' => 'Tea Export Surges By 30 Percent ',
			'sub_title' => '',
			'summary' => 'The export of Nepali tea has increased by 30 percent. The export of Nepali tea has gone up by 29.9 percent in the first seven months of the current fiscal year compared to the same period last fiscal year, according to Trade and Export Promotion Center.',
			'content' => '<p><span style="font-size:18px">March 3: The export of Nepali tea has increased by 30 percent.&nbsp;</span></p>

<p><span style="font-size:18px">The export of Nepali tea has gone up by 29.9 percent in the first seven months of the current fiscal year compared to the same period last fiscal year, according to Trade and Export Promotion Center.</span></p>

<p><span style="font-size:18px">Nepal had exported 7,846 metric tons of the tea worth Rs 2.8 billion in first seven months of&nbsp;the last fiscal year. During the same period in the current fiscal year, total tea export stood at 12,564 metric tons worth Rs 2.71 billion.&nbsp;</span></p>

<p><span style="font-size:18px">Nepali tea is being exported to 166 countries including India, the United States of America, Germany and the United Kingdom. In the export of agricultural products, tea comes only after cardamom.&nbsp;</span></p>

<p><span style="font-size:18px">According to National Tea and Coffee Development Board, Nepal had exported 11,920 metric tons of the tea worth Rs 3.79 billion in the fiscal year 2077/78.</span></p>

<p><span style="font-size:18px">&nbsp;Information Officer Dipak Khanal of the National Tea and Coffee Development Board said that the export quantity had witnessed&nbsp;massive rise&nbsp;as the tea from the last year&#39;s stock&nbsp;was also exported simultaneously.</span></p>

<p><span style="font-size:18px">Saying that quality of Nepali tea was not at par with international standard, India had banned&nbsp;the mixing of Nepali tea with tea from Darjeeling last year.&nbsp;</span></p>

<p><span style="font-size:18px">Nepali tea entrepreneurs had failed to export tea due to the Indian ban last year. As a result, 3,000 metric tons of tea was in stock in Jhapa.&nbsp;</span></p>

<p><span style="font-size:18px">Following the Nepal government&#39;s diplomatic efforts, India had lifted the ban.&nbsp;&nbsp;</span></p>

<p><span style="font-size:18px">Despite the increased demand for Nepali tea this year from different countries, selling of the stock tea was the main reason behind the&nbsp;rise of tea export this fiscal year, Khanal said.&nbsp;</span></p>
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			'modified' => '2023-03-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16902',
			'image' => '20230303065340_collage (11).jpg',
			'article_date' => '2023-03-03 06:40:44',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 6 => array(
		'Article' => array(
			'id' => '16869',
			'article_category_id' => '268',
			'title' => 'Volume and Price of Imported Apples Decline; Price Yet to Be Cheaper in the Market',
			'sub_title' => '',
			'summary' => 'Nepal has imported apples worth Rs 3.49 billion in the first six months of the current fiscal year. From the import of apples worth Rs 3.49 billion, the government has collected a revenue of Rs 400 million during the review period.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">January 29: Nepal has imported apples worth Rs 3.49 billion in the first six months of the current fiscal year.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">From the import of apples worth Rs 3.49 billion, the government has collected a revenue of Rs 400 million during the review period.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The country imported 4,62,97,052 kilograms of apples. This shows that price of per kg apples was Rs 75 on average.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">As many as 4,89,99,989 kilograms of apples worth Rs 3.82 billion were imported during the same period last fiscal year. The average price of the apples was Rs 78 per kg then.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Compared to the last fiscal, import of the apples along with its price has declined. Apple import has declined by eight per cent while the price has fallen by Rs 3 per kg in the current fiscal compared to the last fiscal.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Customers , however, have not felt relieved as the price has yet to come down in the domestic market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Entrepreneur Amar Baniya from Kuleswor fruit market said that rise of domestic production of the apples had led to import fall. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Baniya says that import of other fruits had fallen, in addition to apples.&nbsp;&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Nepal imports apples from India, China and the Untied States of America. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A total of 2,92,53,638 kilograms of apples worth Rs 1.92 billion were imported from India. Likewise, country brought in 1,70,22,834 kilograms of apples worth Rs 1.57 billion from China, while import of apples from the Unites States was 20,580 kilograms&nbsp;worth Rs 5 million in the first six months of the current fiscal.&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2023-01-29',
			'modified' => '2023-01-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16608',
			'image' => '20230129060621_collage (38).jpg',
			'article_date' => '2023-01-29 05:56:14',
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	(int) 7 => array(
		'Article' => array(
			'id' => '16681',
			'article_category_id' => '268',
			'title' => 'Potato Import Plummets by 30,400 Metric Tons ',
			'sub_title' => '',
			'summary' => 'Import of potato, a staple vegetable in Nepali kitchen, has decreased by 30,400 metric tons. In the current fiscal year, the country imported potatoes worth Rs 723 million less than last year.',
			'content' => '<p><br />
<span style="font-size:16px">January 8: Import of potato, a staple vegetable in Nepali kitchen, has decreased by 30,400 metric tons.&nbsp;In the current fiscal year, the country imported potatoes worth Rs 723 million less than last year.</span></p>

<p><span style="font-size:16px">According to the data at the Department of Customs, import of potatoes slumped in the first five months of the current fiscal year compared to the same period last year.</span></p>

<p><span style="font-size:16px">In the last few years, domestic potato production has risen, causing the import to slump.&nbsp;<br />
According to the data at the department, Nepal had imported 218,305 metric tons of potatoes worth 5.52 billion rupees from different countries in the first five months of fiscal year 2078/2079.&nbsp;</span></p>

<p><span style="font-size:16px">As many as 187,858 metric tons of potatoes worth Rs 4.80 billion were imported during the same period in the current fiscal year.Statistics at the department show that potato import has been falling continuously in the recent&nbsp;years in Nepal.&nbsp;</span></p>

<p><span style="font-size:16px">&nbsp;In the fiscal year 2076/77, 341,914 tons of potatoes worth Rs 8.77 billion were imported, while 339,622 tons of potato worth Rs 8.49 billion were imported in the fiscal year of 2077/78.</span></p>

<p><span style="font-size:16px">Basudev Kafle, Head of &nbsp;National Center for Potato, Vegetable and Spice Crops Development attributed rise in the domestic potation &nbsp;production to the drop in the potato import.&nbsp;</span></p>

<p><span style="font-size:16px">According to Kafle, &nbsp;166 pocket areas have been established for potato farming and 200 farmers&rsquo; groups have been involved under the Prime Minister Agriculture Modernization Programme across the country.</span></p>

<p><span style="font-size:16px">With involvement of farmers, food potato and seed potato promotion programmes have been implemented.&nbsp;<br />
As a result, farmers have received quality seed, contributing to the rise of potato production.</span></p>

<p><span style="font-size:16px">In the current fiscal year, a budget of Rs 147.8 million has been allocated to 97 local levels for food potato promotion and Rs 33.34 million to 22 local levels for seed potato promotion program.</span></p>

<p><span style="font-size:16px">Data at the center shows that the annual production of potatoes is increasing in recent years.&nbsp;<br />
In the fiscal year 2075/76, potato was cultivated in 193,200 hectares of land in Nepal. Country had produced 28,51,800 metric tons in the fiscal year. &nbsp;</span></p>

<p><span style="font-size:16px">In the fiscal year 2076/77, potato was grown in 195,100 hectares of the land. &nbsp;The potato production increased &nbsp;to 31,12,900 metric tons of potatoes. Similarly, in the fiscal year 2077/78, as many as &nbsp;3,325,000 metric &nbsp;tons of potatoes were produced in&nbsp;198,000 hectares of land.</span></p>

<p><span style="font-size:16px">Domestic potato production meets around 90 percent of total potato demand in the country. &nbsp;However, experts say that large quantities of potatoes are imported for industrial raw materials.&nbsp;</span></p>

<p><span style="font-size:16px">National center for Potato, Vegetable and Spice Crop Development Nigale&rsquo;s Head Bijaya Kumar Giri says that import of 10 percent potato is enough to meet demand for consumption.&nbsp;</span></p>

<p><span style="font-size:16px">&ldquo;Potatoes are being imported in large quantities for chips, French fries and other products,&rdquo;, added Giri.&nbsp;<br />
Until a few years ago, low-yielding potato seeds, such as, Cardinal, Kufri Sinduri, Kufri Jyoti would be distributed to the farmers.&nbsp;</span></p>

<p><span style="font-size:16px">However, varieties of high-yielding seeds, such as, Janakdev, Khumal Lakshmi, Khumal Vikas are provided to the farmers for potation cultivation&nbsp; these days, leading the potato production to rise. These seeds are less vulnerable to disease and pests, which also supports the growth of potato produce.&nbsp;&nbsp;</span></p>
',
			'published' => true,
			'created' => '2023-01-08',
			'modified' => '2023-01-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16422',
			'image' => '20230108065429_collage (23).jpg',
			'article_date' => '2023-01-08 06:47:54',
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	(int) 8 => array(
		'Article' => array(
			'id' => '16604',
			'article_category_id' => '268',
			'title' => 'Import and Consumption of Aviation Fuel Shrink ',
			'sub_title' => '',
			'summary' => 'Import and consumption of aviation fuel have decreased in the last five months of the current fiscal year in Nepal.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:20px">December 26: Import and consumption of aviation fuel have decreased in the last five months of the current fiscal year in Nepal.</span></p>

<p><span style="font-size:20px">According to the data at the Department of the Customs, Nepal has imported 74, 221 kilolitres of aviation fuel worth Rs 9.20 billion in the five months of the current fiscal year.&nbsp; In the same period last year, Nepal imported 80,744 kilolitres of jet fuel worth Rs 4.18 billion.</span></p>

<p><span style="font-size:20px">Experts in the aviation industry say that since international airlines do not refuel in Nepal, consumption of the aviation fuel has decreased along with its import. However, spokesperson Binitmani Upadhayya at the Nepal Oil Corporation claimed that sales of aviation fuel had dropped due to the fall in international flights post-COVID situation.&nbsp;</span></p>

<p><span style="font-size:20px">&ldquo;Sales of aviation fuel stood at 607 kilolitres a day before 2076 BS. Fuel consumption is around 500 kilolitres at the moment&rdquo;, Upadhaya said adding &ldquo;Aviation fuel sale will get back to the pre-COVID level slowly&rdquo;.&nbsp;</span><br />
&nbsp;</p>

<p><span style="font-size:20px">Despite the fall in the consumption of aviation fuel, international flights to and from Nepal have, however, increased compared to the last year. Likewise, the number of domestic flights has not gone down as well. &nbsp;</span></p>

<p><span style="font-size:20px">Tribhuvan International Airport&rsquo;s spokesperson Teknath Sitaula said number of flights had remained unchanged in the last five months. Nepali airports conduct 35 international flights daily on average these days.</span></p>

<p><span style="font-size:20px">Normally, international airlines refuel in Nepal when the price is equal to the international market. Even though the price of fuels, including aviation fuel, has declined in the international market, Nepal Oil Corporation (NOC) has not adjusted the price of aviation fuel to cover the losses. Aviation experts say that international airlines refuel at transit not in Nepal owing to high prices.&nbsp;</span></p>

<p><span style="font-size:20px">Board of Directors of the Nepal Oil Corporation fixes the prices of aviation fuel and LP gas. However, price of aviation fuel has not been adjusted because the NOC Board of Directors has not held the meeting for a long time, according to Upadhyay.</span></p>

<p><span style="font-size:20px">According to NOC, the current price of aviation fuel in Nepal is USD 1.645 per litre. &nbsp;Nepal Rastra Bank has set the selling rate of USD 1 to NRP 132.88.&nbsp;</span></p>

<p><span style="font-size:20px">Failure to adjust the price of international aviation fuel has&nbsp; reduced consumption, decreasing&nbsp;the profit of the NOC. The more aviation fuel NOC sells, the more profit it makes.&nbsp;</span></p>

<p><span style="font-size:20px">Since NOC makes income in the US Dollar from the sale of aviation fuel to international airlines, it will not reduce the country&rsquo;s foreign currency reserve, say knowledgeable people.&nbsp;</span></p>

<p><span style="font-size:20px">&nbsp;&nbsp; &nbsp;</span></p>
',
			'published' => true,
			'created' => '2022-12-26',
			'modified' => '2022-12-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16345',
			'image' => '20221226012036_collage (14).jpg',
			'article_date' => '2022-12-26 13:15:29',
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	(int) 9 => array(
		'Article' => array(
			'id' => '15349',
			'article_category_id' => '268',
			'title' => 'Exporters Demand Export Credit Insurance Facility ',
			'sub_title' => '',
			'summary' => 'May 27: Export Credit Insurance (ECI) to cover the risk of non-payment of goods exported abroad is not yet available in Nepal.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 27: Export Credit Insurance (ECI) to cover the risk of non-payment of goods exported abroad is not yet available in Nepal. Many countries around the world have introduced export credit insurance targeting non-payment risks in exports.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Lately, the export of goods from Nepal has been increasing. With the increase in size of the exports, the problem of non-payment is also increasing. This has discouraged exporters. However, it seems that the concerned bodies have not paid enough attention to introduce export credit insurance to cover such risks.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Exporters have been demanding the government to bring such insurance facilities since the last 2/3 years. But they say that the government has ignored this issue. The Insurance Board, the regulatory body of the insurance sector, says it is ready to approve any such products if the insurance companies announce them.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Ashok Kumar Agrawal, general secretary of the Nepali Readymade Garment Industry Association, says that credit export insurance should be introduced. &quot;Lately, the risk of non-payment has been increasing along with Nepal&#39;s exports,&quot; he said, &quot;In this case, we want to insure ourselves by paying the required fee. However, we have not been able to get that facility. The government needs to pay attention to this immediately.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Export credit insurance has come into practice in many countries of the world. In case of non-payment of the exported item, up to 95% of the export value can be obtained from the insurance companies. However, Nepali exporters have not yet been able to get such facility.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal should increase its exports at any cost to reduce the trade deficit. For that, exporters say that they need motivation, which is possible through such insurance facility.&nbsp;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Agrawal said his industry had exported its products to the United States a few years ago, but the buyers did not pay. &quot;I then filed a lawsuit in a US court,&quot; he said, &quot;The court asked whether there is export credit insurance or not.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He says that the need and importance of such insurance has been increasing in recent days. &quot;The government should be positive about this issue,&quot; he said.&nbsp; </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A few days ago, a special team from Germany came to Kathmandu and informed the insurance board and the companies about such insurance through a presentation. After that, a debate has started on the issue of bringing such a product in the insurance sector. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Executive Director of the Insurance Board Raju Raman Poudel said that the board is positive in this regard.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;So far, no such insurance product has been introduced in Nepal. The insurance companies have to take the initiative. If they bring such product, we are ready to approve it,&quot; he said.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Insurance companies, on the other hand, say that even if such insurance is introduced, it will be a challenge to implement it. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">CEO of NLG Insurance Suresh Ballav Pant argues that it is challenging to implement such product. &quot;First, the insurance company should know all the credit of the customers. Moreover, the foreigners are the customers during export,&quot; he said, &quot;We&#39;ll need&nbsp; information such as loan payment to the bank by the customers while importing other goods, and business transactions which is difficult to get. So it is quite challenging.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2022-05-27',
			'modified' => '2022-05-27',
			'keywords' => '',
			'description' => '',
			'sortorder' => '15092',
			'image' => '20220527045650_Export.jpg',
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	(int) 10 => array(
		'Article' => array(
			'id' => '15338',
			'article_category_id' => '268',
			'title' => 'Nepal’s Import Declines by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'May 26: Amid growing concerns over rising imports and the consequent pressure on foreign exchange reserves, the Department of Customs on Tuesday released promising data.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 26: Amid growing concerns over rising imports and the consequent pressure on foreign exchange reserves, the Department of Customs on Tuesday released promising data.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;According to the country&rsquo;s foreign trade data in the first ten months of the current fiscal year (mid-July-mid-May) released by the department on Tuesday, goods worth Rs 137 billion were imported from abroad in the month of Baishakh (mid-April to mid-May), which is less than the imports in the previous month (mid-March to mid-April) by Rs 20 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The imports of Nepal had reached an all-time high of Rs 188 billion in the month of Mangsir (mid-November to mid-December) last year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The impact of the government&#39;s policy to curb imports of luxury goods has been felt in May. The central bank had been taking various steps to control imports since December. In the first week of December, NRB had introduced a provision for keeping a 50 to 100 per cent cash margin while opening LC for the import of some items.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Later, NRB called the chief executive officers of all commercial banks on April 7 and verbally instructed them not to open LCs for the import of luxury goods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">On April 29, the Ministry of Industry, Commerce and Supplies published a notice in the Nepal Gazette and banned the import of 10 types of goods including vehicles, till the end of the current fiscal year (mid-July).</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;According to the department, goods worth Rs 1646.50 billion have been imported till mid-May against goods worth Rs 1,254.11 billion in the corresponding period of the previous fiscal year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Imports in the current fiscal year has increased by 27.95 percent compared to last fiscal year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, Nepal&rsquo;s exports increased by 59.80 per cent to Rs 173.34 billion during the review period. Although the growth rate of exports is high, it has not been able to play a significant role in reducing the trade deficit. As a result, the trade deficit has increased to over Rs 1431.30 billion. The trade deficit increased by 24.94 per cent compared to the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Statistics from the department show that mostly fuels were imported during this period. The first, second and third imported items are diesel, petrol and cooking gas, respectively. Diesel import has reached more than Rs 123.70 billion as of mid-May.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;More than Rs 54.83 billion has been spent on importing petrol. Similarly, cooking gas worth more than Rs 52.59 billion has been imported during this period. Iron and steel raw materials constitute the fourth most imported items with imports worth Rs 43.55 billion.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Soybean oil tops the list of Nepal&rsquo;s exported items. Soybean oil worth Rs 45.35 billion was exported during the review period. Refined bleached deodorized palm olein worth Rs 14.78 billion was exported. It is the second-largest exported item. Palm oil is the third-largest export, worth more than 13.97 billion.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2022-05-26',
			'modified' => '2022-05-26',
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			'description' => '',
			'sortorder' => '15080',
			'image' => '20220526014655_Trade.jpg',
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	(int) 11 => array(
		'Article' => array(
			'id' => '15336',
			'article_category_id' => '268',
			'title' => 'India Imposes Ban on Export of Sugar',
			'sub_title' => '',
			'summary' => 'May 26: India has banned export of sugar within days after banning the export of wheat from the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">May 26: India has banned export of sugar within days after banning the export of wheat from the country. This move is certain to cause scarcity of sugar in Nepal and result in price hike as the domestic production of sugar is not sufficient to meet the internal demand. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The annual consumption of sugar in Nepal is around 250,000 metric tons while the domestic production is just 140,000 metric tons. The country has been supplying the insufficient amount of sugar through imports. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of India is said to have banned the export of sugar fearing global food crisis due to the Russia-Ukraine war. India is the second largest exporter of sugar after Brazil. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal has been relying on sugar imported from India, Pakistan and other countries to meet the internal demand for sugar. Pakistan has also imposed a ban on export of sugar. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Stakeholders believe that the latest decision taken by India is certain to cause scarcity of sugar and also increase its price in the domestic market of Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kapil Mani Mainali, chairman of Nepal Sugarcane Producers Association, said that the ban imposed on export of sugar by India will have a profound impact on Nepal. According to Mainali, the annual demand of sugar in Nepal is around 250,000 metric tons. He informed that the Nepal has produced 140,000 metric tons of sugar this year. He claimed that there will be a scarcity of sugar in the near future due to the ban imposed by India.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">As per the latest data of the department of customs, Nepal has imported 89,000 metric tons of sugar so far in the current fiscal year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Officials of the state-owned Salt Trading Corporation, which sells sugar at subsidized rate, say that it has a stock of 32 tons of sugar left. Salt Trading Corporation has been selling sugar in retail amount so that the stock does not run out. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It has been almost one and a half years since the Salt Trading Corporation sought permission from the government to procure 50,000 metric tons of sugar but the proposal has not been approved yet.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Salt Trading Corporation has invited tender bids at both international and domestic levels to purchase 10,000 metric tons of sugar. However, the corporation&rsquo;s spokesperson Kumar Rajbhandari believes that the procurement process will be affected due to the ban imposed by India. He believes that the India&rsquo;s ban will create a shortage of sugar in Nepal and will also cause an increase&nbsp; in price.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The retail price of sugar in the local market is between Rs 90 to Rs 95 per kg at present. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Big businessmen and traders are expected to create an artificial shortage of sugar after India imposed such ban, says Amul Kaji Tuladhar, general secretary of Retail Trade Association. &nbsp;&nbsp;</span></span></p>
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		'Article' => array(
			'id' => '15308',
			'article_category_id' => '268',
			'title' => 'MPs Stress on Establishment of Industries to Substitute Import-Oriented Economy   ',
			'sub_title' => '',
			'summary' => 'May 22: Lawmakers of the ruling parties during the deliberations on the principles and priorities of the Appropriation Bill for the Fiscal Year 2022/23 on Friday argued that the principles and priorities were practical and scientific in nature.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">May 22: Lawmakers of the ruling parties during the deliberations on the principles and priorities of the Appropriation Bill for the Fiscal Year 2022/23 on Friday argued that the principles and priorities were practical and scientific in nature.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, lawmakers of the opposition party blamed that the principles and priorities have no course and aim.&nbsp; Members of Parliament (MPs) stressed the need of taking initiatives for making economy export-oriented, increasing domestic production and increasing export instead of import.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">They said that initiatives should be taken immediately to resolve the current crisis that has emerged due to the declining foreign exchange reserves and rising balance of payments deficit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lawmakers of the opposition party criticized the government for lifting the ban on import goods like dates, betel nuts and black pepper.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">CPN (UML) lawmaker Rajendra Gautam said that the principles and priorities of the Appropriation Bill presented by the government are not matching principally.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Gagan Kumar Thapa of the Nepali Congress drew the attention of the government to establish industries by creating investment-friendly environment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Stating that urbanization and income had increased and so was the scope of employment, he spoke of the need to formulate policies, programme and plans attracting foreign investment and expanding domestic investment within a decade.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He was of the view that workers&#39; participation could be increased and value chain could be grown since the bases of industries such as shoe, textile and garment industries have increased.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, CPN (Maoist Centre)&#39;s parliamentarian Barshaman Pun called for reforms in the policy level and structural level to increase employment and give newness in agriculture sector.&nbsp; The former finance minister also urged to give special priority to reservoir-based hydropower projects and increase investment for energy security.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He opined that the country&rsquo;s foreign exchange reserves have been affected by a large number of Nepali students leaving abroad annually for further studies taking huge chunks of Nepali currency abroad.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Parliamentarians Gopal Bom and Nirudevi Pal expressed their views on theoretical issues of Appropriation Bill and pressed for effective implementation of policy, programmes and plans. -- RSS</span></span></span></p>
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			'created' => '2022-05-22',
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			'sortorder' => '15050',
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			'article_date' => '2022-05-22 11:12:40',
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	(int) 13 => array(
		'Article' => array(
			'id' => '15284',
			'article_category_id' => '268',
			'title' => 'India bans Export of Wheat',
			'sub_title' => '',
			'summary' => 'May 16: India banned the exports of wheat just a day after New Delhi declared a goal of setting a new record for shipment of exports.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 16: India banned the exports of wheat just a day after New Delhi declared a goal of setting a new record for shipment of exports.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Extreme heat in India resulted in the decline in wheat production this year and the prices have skyrpcketed. The Indian government has made it clear that the ban on export will not be applicable for LC opened before May 13. According to Reuters, exports to countries that demand food supplies to meet food security needs will not be stopped.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Importers from around the world turned to India, the world&#39;s second-largest wheat producer, after exports via the Black Sea came to a halt due to Russia&#39;s invasion of Ukraine on February 24. Prior to the ban, India had set a target of exporting 10 million tons of wheat this year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">India is one of the world&#39;s largest wheat exporters. The decision of imposing a ban on exports can push the already tight wheat prices in the international market to new heights and put the poor consumers of Asia and Africa in a difficult position.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">An official of a Mumbai-based multinational trading company said, &ldquo;The ban is shocking. We already expected control on exports a few months back. However, the rates of inflation must have played a vital role in changing the decision of the government.&rdquo; The rising inflation in food and energy prices pushed India&#39;s annual inflation close to 8 percent in April.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Wheat prices in India have reached record highs. In some markets, it has reached IRs 25,000 (Rs 40,000) per ton. The government of India has fixed the minimum support price of wheat at IRs 20,150 per metric ton in the country. Rising prices of fuel, labor, transportation and packaging have raised the price of wheat flour in India.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;&ldquo;It is not just wheat. The price of everything has raised concerns about inflation. This is the reason why the government decided to ban wheat exports. This step is a big caution for us,&rdquo; said a senior government official on condition of anonymity.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Just this week, India said that it would set a record in wheat exports in the current fiscal year which started on April 1. The Indian government had planned to send delegations to Morocco, Tunisia, Indonesia and the Philippines to find ways to increase wheat exports. Last February, the government projected wheat production to exceed 110 million metric tons this year. Later in May, the projection was reduced to 105 million metric tons. According to a New Delhi-based multinational trading company, the heat wave in India in mid-March is expected to limit wheat production to just 100 million metric tons.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The government&rsquo;s procurement has dropped by more than 50 per cent. The supply in the spot market is much less as compared to last year. All of this is indicative of low yields,&rdquo; said the dealer. India exported 7 million metric tons of wheat in March while taking advantage of rising global prices following the Russia-Ukraine war. This record setting export is 250 percent more than the previous year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The rise in wheat prices was moderate and Indian prices are still lower than the world market. In some parts of the country, the price of wheat rose to its current level last year itself, so a ban on exports is a necessary response,&rdquo; Reuters quoted New Delhi-based businessman Rajesh Pahadia Jain as saying,</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Jain said India can export at least 10 million tons of wheat this year, despite a drop in production and procurement by the state-owned Food Corporation of India (FCI). So far, FCI purchased just over 19 million tons of wheat from farmers, which was 43.3 million ton last year. FCI buys food from local farmers to run food welfare programmes for the poor. Unlike in previous years, farmers preferred to sell wheat to private traders this time. Farmers are attracted to them because they pay more than the price fixed by the government. India exported 1.4 million tons of wheat in April and 1.5 million tons in May. Another Indian wheat trader says, &ldquo;India&#39;s ban will push up the price of wheat worldwide. There is no big supplier in the market right now.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '15238',
			'article_category_id' => '268',
			'title' => 'Nepal Exporting Shoes to 17 Countries',
			'sub_title' => '',
			'summary' => 'May 9: Nepal has been exporting shoes manufactured in the country to 17 nations, including India.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 9: Nepal has been exporting shoes manufactured in the country to 17 nations, including India. Nepali shoes, which used to be exported only to India in the past, are now available from the Gulf countries to developed countries like the USA, the UK and Japan.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Domestic shoe manufacturers are excited that the Nepali shoes have entered the international market. They say that the shoes could be&nbsp; exported to more countries that with the help of the government.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nani Raj Ghimire, president of the Shoe Producers Association of Nepal, said that domestic industries are currently producing less shoes than their capacity.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that the footwear export which was limited to India has now reached more than 17 countries, he said that the volume of exports could be increased with the help of the government. &quot;Earlier, we had problems in exporting shoes due to poor quality,&quot; he said.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">If the Nepali shoe industries operate at full capacity, they can produce 160 million pairs of shoes annually. According to the stakeholders, shoe production started to gain momentum in Nepal since 2070 BS. Domestic shoe manufacturer had invested heavily in production before Covid-19. The investment has been affected heavily in the last two years due to the pandemic. According to businessmen, more than Rs 30 billion has been invested in 1,500 industries.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal&#39;s internal demand for footwear is 100 million pairs annually. According to President Ghimire, more than 30 million pairs of shoes have been exported to different countries in recent times. Footwear entrepreneurs said that the volume of export can be increased and the basis for long-term export can be made if government agencies like foreign embassies and consulates help in promotion by setting up separate desks. They complained that there are problems due to unstable interest rates and lack of provision for industrial loans.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">At present, industries are not operating at full capacity. &quot;The footwear industry produces only 35 to 40 per cent of the total capacity,&quot; he said, adding that &quot;It meets 65 per cent of the domestic demand.&quot;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;Currently, more than 50,000 people are directly employed by footwear industries,&quot; Ghimire said. &quot;With the help of the state, it can be increased to 75,000.&quot;</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '21502',
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			'title' => 'Nepal’s Trade Deficit Stands at Rs 1314.44 Billion',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year. According to the Nepal Rastra Bank (NRB), such deficit had decreased 15.2 percent in the corresponding period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report based on eleven month&rsquo;s data unveiled by the NRB on Wednesday mentions that the export-import ratio decreased to 9.6 percent in the review period from 9.7 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">During the review period, merchandise exports decreased 3.0 percent to Rs 139.26 billion compared to a decrease of 22.7 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, exports to India decreased 4.5 percent while that to China increased 57.7 percent. Similarly, export to other countries decreased 1.7 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, bran, tea among others decreased, the NRB report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, merchandise imports decreased 1.8 percent to Rs 1453.70 billion compared to a decrease of 16 percent a year ago. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, imports from India decreased 3.1 percent while that from China increased 34.8 percent. Similarly, import from other countries decreased 3.1 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Imports of transport equipment, vehicle and spare parts, readymade garments, electrical equipment, aircraft spare parts, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on customs points, exports from Bhairahawa, Birgunj, Jaleswor, Krishnanagar, Mechi, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Birgunj, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani Customs Offices increased whereas imports from all the other major customs points decreased in the review period.</span></span></p>
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			'title' => 'Cost of Import of Food Items  Via Birgunj Customs Office Doubles ',
			'sub_title' => '',
			'summary' => 'Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 1: Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in the cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Information officer Ramchandra Dhakal, Nepal has imported food items worth NPR 28.91 billion during this period, whereas only NPR 12.18 billion was spent on the import of food items during same period in the previous fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, the import of paddy has taken the lead. Traders have increased the import of paddy after India fixed a quota of 6 lakh tons. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As most of the rice mills in Nepal rely on imported paddy from India, Nepal imported 2,88,000 tons of paddy in nine months through the Birgunj customs point.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This amount has risen significantly from 1,93,000 tons of paddy imported during the same period in the previous fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the import of other food items, except paddy, has decreased. Import of rice has fallen to 30,000 tons worth NPR 2.35 billion compared to the previous fiscal year&#39;s import of 37,000 tons worth NPR 2.37 billion. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the import of maize has decreased by 20 percent to 62,658 tons worth NPR 10.61 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The imposition of a quota system by India on wheat export has resulted in an 83 percent decline in wheat import, which has adversely affected the production of domestic industries. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Only 3,472 tons of wheat were imported via the Birgunj customs office during the first nine months of the current fiscal year compared to 20,422 tons during the same period last fiscal year. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Import of other food items such as millet has also decreased.</span></span></p>
',
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			'created' => '2023-05-01',
			'modified' => '2023-05-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '17454',
			'image' => '20230501072052_collage (6).jpg',
			'article_date' => '2023-05-01 07:18:19',
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	(int) 2 => array(
		'Article' => array(
			'id' => '17429',
			'article_category_id' => '268',
			'title' => 'Rasuwagadhi Border Point Reopens ',
			'sub_title' => '',
			'summary' => 'Rasuwagadhi border point, which was closed following the  breakout of COVID-19 pandemic, has resumed its operation from Saturday. ',
			'content' => '<p><span style="font-size:18px">April 2: Rasuwagadhi border point, which was closed following the&nbsp; breakout of COVID-19 pandemic, has resumed its operation from Saturday.&nbsp;</span></p>

<p><span style="font-size:18px">In the presence of Secretary Madhukumar Marasini at the Ministry of Industry, Commerce and Supplies and Vice President of the Tibet Autonomous Region (TAR)of China Silang Nima, &nbsp;Nepali containers carrying goods made in Nepal left for Kerung via Rasuwagadhi&rsquo;s Miteri Bridge.&nbsp;</span></p>

<p><span style="font-size:18px">As per the recent agreement between Nepal and TAR, the Tatopani crossing will also be operational from May 1. The agreement was reached during a bilateral talks held in Lhasa on March 29.</span></p>

<p><span style="font-size:18px">After holding talks to open the border, a team of government officials including Secretary Marasini and Joint Secretary Jitendra Basnet at the Home Ministry had returned to Rasuwa via Rasuwagadhi border point.&nbsp;</span></p>

<p><span style="font-size:18px">Secretary Marasini informed that other border points with China will also be opened. &ldquo;Tatatopani border point will resume from May 1,&rdquo; said Marasini.&nbsp;</span></p>

<p><span style="font-size:18px">The resumption of Rasuwagadhi border point with China has made traders and businessmen happy and excited in the area, said Nepal Kerung Business Association Founder Chairman Man Bahadur Tamang. A total of 24 trucks loaded with Nepal-made products left for Kerung on Saturday.&nbsp;</span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2023-04-02',
			'modified' => '2023-04-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '17164',
			'image' => '20230402064249_collage (49).jpg',
			'article_date' => '2023-04-02 06:40:17',
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	(int) 3 => array(
		'Article' => array(
			'id' => '17348',
			'article_category_id' => '268',
			'title' => 'Foreign Trade Shrinks Despite Import Ban Lift ',
			'sub_title' => '',
			'summary' => 'Country’s foreign trade has decreased by 20.14 percent in the eight months of the current fiscal year. ',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:18px">March 23: Country&rsquo;s foreign trade has decreased by 20.14 percent in the eight months of the current fiscal year.&nbsp;</span></p>

<p><span style="font-size:18px">Despite the surge of the foreign exchange reserve, lifting of the ban on the import of luxurious goods and removal of 50 and 100 percent cash margin while opening letter of credit(LC), foreign trade has not improved.&nbsp;</span></p>

<p><span style="font-size:18px">Soaring inflation triggered by Russia-Ukraine war and high banking interest rates have badly affected the import and export, causing the international trade to drop compared to the last fiscal year.&nbsp;</span></p>

<p><span style="font-size:18px">In the first eight months of the current fiscal year Nepal&rsquo;s total foreign trade was Rs 1,163 billion compared to Rs 1456.48 billion in the last fiscal year, according to the Department of Customs. </span></p>

<p><span style="font-size:18px">The country&rsquo;s trade deficit has shrunk by 17.86 per cent to Rs 953 billion in the first eight months of the fiscal year compared to last year when the trade gap stood at Rs 1,160 billion.</span></p>

<p><span style="font-size:18px">Statistics released by the Department of Customs on Wednesday show that &nbsp;Nepal imported goods worth over Rs 1,058 billion in the review period, a decrease by 19.13 per cent compared to the imports over the same period last year. The goods were imported from over 158 countries.</span></p>

<p><span style="font-size:18px">Meanwhile, exports from the country stood at Rs 104 billion in the eight months of the current fiscal, down 29.07 per cent compared to the same review period last fiscal year.</span></p>

<p><span style="font-size:18px">In the review period, the imports to exports ratio increased by 14.02 per cent compared to last year in the first eight months of this fiscal year.</span></p>

<p><span style="font-size:18px">Nepal continues to have the highest trade deficit with its neighbours &mdash; India and China.<br />
According to the data, Nepal imported goods worth Rs 656.80 billion from the southern neighbour in the review period, while exports to India amounted to Rs 74 billion.</span></p>

<p><span style="font-size:18px">&nbsp;The trade deficit with India stood at Rs 582 billion in the review period. Meanwhile, the trade deficit with China stood at Rs 145.26 billion in the first eight months of the current fiscal year.</span></p>
',
			'published' => true,
			'created' => '2023-03-23',
			'modified' => '2023-03-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '17083',
			'image' => '20230323065442_collage (33).jpg',
			'article_date' => '2023-03-23 06:51:55',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '17304',
			'article_category_id' => '268',
			'title' => 'Nepal And India Agree To Prepare Modality To Export Electricity to Indian States Via Bihar',
			'sub_title' => '',
			'summary' => 'Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">March 19: Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.&nbsp;&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The 14th meeting of the Nepal-India Power Exchange Committee concluded on March 17 at New Delhi, India, decided to prepare the modality for power export from Nepal to various states in India via Bihar within a month. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The meeting co-chaired by Executive Director of the Nepal Electricity Authority Kulman Ghising and member of Power System member of the Central Electricity Authority of India Ashok Kumar Rajput agreed to finalize the modality within a month for the same. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The agreement has ensured the additional market for the sale of surplus electricity during rainy season&quot;, Executive Director Ghising said.&nbsp; Kataiya (Bihar)-Kushaha (Nepal) and Raxaul-Parawanipur 132-KV transmission line are connected with Bihar.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">As per the Power Exchange Agreement, the meeting has determined new the price of per unit electricity at Rs 11.54 for the fiscal year 2022/23. The new rate is not on a take-or-pay modality. We have to pay the rate, only if we purchase electricity. This rate is cheaper than the current Indian market and we will get the same rate even during export;&rdquo; said Ghising. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">When the NEA made its first-ever effort to buy electricity from India through competitive bidding for long-term power supply in December last year, the Indian companies had proposed to sell power to Nepal at Rs 7.50 and Rs 8.70 per unit for February-March and April-May, respectively.&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The prices they quoted are higher than the rate agreed between Nepal and India during the Power Exchange Committee meeting.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Buying electricity from India&rsquo;s competitive market has been even more expensive. Up to INR 12 per unit has to be paid for the power on which an additional 1.5 Indian rupees is added towards tariff for transmission charges, according to the NEA. &ldquo;Hence, the rate fixed, at present, is cheaper than others,&rdquo; the power utility was quoted as saying in the statement.&nbsp;</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The NEA has been importing electricity from India&rsquo;s Bihar, Uttar Pradesh and Uttarakhand as per the electricity exchange agreement. Only Bihar and Uttar Pradesh are connected to Nepal through 132 KV transmission lines.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal imports electricity from India under three separate agreements. Nepal can import power from India based on the power exchange agreement, Mahakali Treaty and open competition in the Indian power market. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The electricity purchased in the open market is being imported through the 400kV Dhalkebar-Muzaffarpur cross-border double-circuit transmission line. Nepal also sells electricity in the Indian market through this power line.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal Electricity Authority traded surplus electricity worth Rs 8.4 billion to Indian since the beginning of the current fiscal year 2022/23 to till the date.&nbsp; </span></span></span></p>
',
			'published' => true,
			'created' => '2023-03-19',
			'modified' => '2023-03-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '17042',
			'image' => '20230319064131_collage (28).jpg',
			'article_date' => '2023-03-19 06:33:43',
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	(int) 5 => array(
		'Article' => array(
			'id' => '17164',
			'article_category_id' => '268',
			'title' => 'Tea Export Surges By 30 Percent ',
			'sub_title' => '',
			'summary' => 'The export of Nepali tea has increased by 30 percent. The export of Nepali tea has gone up by 29.9 percent in the first seven months of the current fiscal year compared to the same period last fiscal year, according to Trade and Export Promotion Center.',
			'content' => '<p><span style="font-size:18px">March 3: The export of Nepali tea has increased by 30 percent.&nbsp;</span></p>

<p><span style="font-size:18px">The export of Nepali tea has gone up by 29.9 percent in the first seven months of the current fiscal year compared to the same period last fiscal year, according to Trade and Export Promotion Center.</span></p>

<p><span style="font-size:18px">Nepal had exported 7,846 metric tons of the tea worth Rs 2.8 billion in first seven months of&nbsp;the last fiscal year. During the same period in the current fiscal year, total tea export stood at 12,564 metric tons worth Rs 2.71 billion.&nbsp;</span></p>

<p><span style="font-size:18px">Nepali tea is being exported to 166 countries including India, the United States of America, Germany and the United Kingdom. In the export of agricultural products, tea comes only after cardamom.&nbsp;</span></p>

<p><span style="font-size:18px">According to National Tea and Coffee Development Board, Nepal had exported 11,920 metric tons of the tea worth Rs 3.79 billion in the fiscal year 2077/78.</span></p>

<p><span style="font-size:18px">&nbsp;Information Officer Dipak Khanal of the National Tea and Coffee Development Board said that the export quantity had witnessed&nbsp;massive rise&nbsp;as the tea from the last year&#39;s stock&nbsp;was also exported simultaneously.</span></p>

<p><span style="font-size:18px">Saying that quality of Nepali tea was not at par with international standard, India had banned&nbsp;the mixing of Nepali tea with tea from Darjeeling last year.&nbsp;</span></p>

<p><span style="font-size:18px">Nepali tea entrepreneurs had failed to export tea due to the Indian ban last year. As a result, 3,000 metric tons of tea was in stock in Jhapa.&nbsp;</span></p>

<p><span style="font-size:18px">Following the Nepal government&#39;s diplomatic efforts, India had lifted the ban.&nbsp;&nbsp;</span></p>

<p><span style="font-size:18px">Despite the increased demand for Nepali tea this year from different countries, selling of the stock tea was the main reason behind the&nbsp;rise of tea export this fiscal year, Khanal said.&nbsp;</span></p>
',
			'published' => true,
			'created' => '2023-03-03',
			'modified' => '2023-03-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16902',
			'image' => '20230303065340_collage (11).jpg',
			'article_date' => '2023-03-03 06:40:44',
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	(int) 6 => array(
		'Article' => array(
			'id' => '16869',
			'article_category_id' => '268',
			'title' => 'Volume and Price of Imported Apples Decline; Price Yet to Be Cheaper in the Market',
			'sub_title' => '',
			'summary' => 'Nepal has imported apples worth Rs 3.49 billion in the first six months of the current fiscal year. From the import of apples worth Rs 3.49 billion, the government has collected a revenue of Rs 400 million during the review period.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">January 29: Nepal has imported apples worth Rs 3.49 billion in the first six months of the current fiscal year.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">From the import of apples worth Rs 3.49 billion, the government has collected a revenue of Rs 400 million during the review period.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The country imported 4,62,97,052 kilograms of apples. This shows that price of per kg apples was Rs 75 on average.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">As many as 4,89,99,989 kilograms of apples worth Rs 3.82 billion were imported during the same period last fiscal year. The average price of the apples was Rs 78 per kg then.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Compared to the last fiscal, import of the apples along with its price has declined. Apple import has declined by eight per cent while the price has fallen by Rs 3 per kg in the current fiscal compared to the last fiscal.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Customers , however, have not felt relieved as the price has yet to come down in the domestic market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Entrepreneur Amar Baniya from Kuleswor fruit market said that rise of domestic production of the apples had led to import fall. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Baniya says that import of other fruits had fallen, in addition to apples.&nbsp;&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Nepal imports apples from India, China and the Untied States of America. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A total of 2,92,53,638 kilograms of apples worth Rs 1.92 billion were imported from India. Likewise, country brought in 1,70,22,834 kilograms of apples worth Rs 1.57 billion from China, while import of apples from the Unites States was 20,580 kilograms&nbsp;worth Rs 5 million in the first six months of the current fiscal.&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2023-01-29',
			'modified' => '2023-01-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16608',
			'image' => '20230129060621_collage (38).jpg',
			'article_date' => '2023-01-29 05:56:14',
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	(int) 7 => array(
		'Article' => array(
			'id' => '16681',
			'article_category_id' => '268',
			'title' => 'Potato Import Plummets by 30,400 Metric Tons ',
			'sub_title' => '',
			'summary' => 'Import of potato, a staple vegetable in Nepali kitchen, has decreased by 30,400 metric tons. In the current fiscal year, the country imported potatoes worth Rs 723 million less than last year.',
			'content' => '<p><br />
<span style="font-size:16px">January 8: Import of potato, a staple vegetable in Nepali kitchen, has decreased by 30,400 metric tons.&nbsp;In the current fiscal year, the country imported potatoes worth Rs 723 million less than last year.</span></p>

<p><span style="font-size:16px">According to the data at the Department of Customs, import of potatoes slumped in the first five months of the current fiscal year compared to the same period last year.</span></p>

<p><span style="font-size:16px">In the last few years, domestic potato production has risen, causing the import to slump.&nbsp;<br />
According to the data at the department, Nepal had imported 218,305 metric tons of potatoes worth 5.52 billion rupees from different countries in the first five months of fiscal year 2078/2079.&nbsp;</span></p>

<p><span style="font-size:16px">As many as 187,858 metric tons of potatoes worth Rs 4.80 billion were imported during the same period in the current fiscal year.Statistics at the department show that potato import has been falling continuously in the recent&nbsp;years in Nepal.&nbsp;</span></p>

<p><span style="font-size:16px">&nbsp;In the fiscal year 2076/77, 341,914 tons of potatoes worth Rs 8.77 billion were imported, while 339,622 tons of potato worth Rs 8.49 billion were imported in the fiscal year of 2077/78.</span></p>

<p><span style="font-size:16px">Basudev Kafle, Head of &nbsp;National Center for Potato, Vegetable and Spice Crops Development attributed rise in the domestic potation &nbsp;production to the drop in the potato import.&nbsp;</span></p>

<p><span style="font-size:16px">According to Kafle, &nbsp;166 pocket areas have been established for potato farming and 200 farmers&rsquo; groups have been involved under the Prime Minister Agriculture Modernization Programme across the country.</span></p>

<p><span style="font-size:16px">With involvement of farmers, food potato and seed potato promotion programmes have been implemented.&nbsp;<br />
As a result, farmers have received quality seed, contributing to the rise of potato production.</span></p>

<p><span style="font-size:16px">In the current fiscal year, a budget of Rs 147.8 million has been allocated to 97 local levels for food potato promotion and Rs 33.34 million to 22 local levels for seed potato promotion program.</span></p>

<p><span style="font-size:16px">Data at the center shows that the annual production of potatoes is increasing in recent years.&nbsp;<br />
In the fiscal year 2075/76, potato was cultivated in 193,200 hectares of land in Nepal. Country had produced 28,51,800 metric tons in the fiscal year. &nbsp;</span></p>

<p><span style="font-size:16px">In the fiscal year 2076/77, potato was grown in 195,100 hectares of the land. &nbsp;The potato production increased &nbsp;to 31,12,900 metric tons of potatoes. Similarly, in the fiscal year 2077/78, as many as &nbsp;3,325,000 metric &nbsp;tons of potatoes were produced in&nbsp;198,000 hectares of land.</span></p>

<p><span style="font-size:16px">Domestic potato production meets around 90 percent of total potato demand in the country. &nbsp;However, experts say that large quantities of potatoes are imported for industrial raw materials.&nbsp;</span></p>

<p><span style="font-size:16px">National center for Potato, Vegetable and Spice Crop Development Nigale&rsquo;s Head Bijaya Kumar Giri says that import of 10 percent potato is enough to meet demand for consumption.&nbsp;</span></p>

<p><span style="font-size:16px">&ldquo;Potatoes are being imported in large quantities for chips, French fries and other products,&rdquo;, added Giri.&nbsp;<br />
Until a few years ago, low-yielding potato seeds, such as, Cardinal, Kufri Sinduri, Kufri Jyoti would be distributed to the farmers.&nbsp;</span></p>

<p><span style="font-size:16px">However, varieties of high-yielding seeds, such as, Janakdev, Khumal Lakshmi, Khumal Vikas are provided to the farmers for potation cultivation&nbsp; these days, leading the potato production to rise. These seeds are less vulnerable to disease and pests, which also supports the growth of potato produce.&nbsp;&nbsp;</span></p>
',
			'published' => true,
			'created' => '2023-01-08',
			'modified' => '2023-01-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16422',
			'image' => '20230108065429_collage (23).jpg',
			'article_date' => '2023-01-08 06:47:54',
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	(int) 8 => array(
		'Article' => array(
			'id' => '16604',
			'article_category_id' => '268',
			'title' => 'Import and Consumption of Aviation Fuel Shrink ',
			'sub_title' => '',
			'summary' => 'Import and consumption of aviation fuel have decreased in the last five months of the current fiscal year in Nepal.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:20px">December 26: Import and consumption of aviation fuel have decreased in the last five months of the current fiscal year in Nepal.</span></p>

<p><span style="font-size:20px">According to the data at the Department of the Customs, Nepal has imported 74, 221 kilolitres of aviation fuel worth Rs 9.20 billion in the five months of the current fiscal year.&nbsp; In the same period last year, Nepal imported 80,744 kilolitres of jet fuel worth Rs 4.18 billion.</span></p>

<p><span style="font-size:20px">Experts in the aviation industry say that since international airlines do not refuel in Nepal, consumption of the aviation fuel has decreased along with its import. However, spokesperson Binitmani Upadhayya at the Nepal Oil Corporation claimed that sales of aviation fuel had dropped due to the fall in international flights post-COVID situation.&nbsp;</span></p>

<p><span style="font-size:20px">&ldquo;Sales of aviation fuel stood at 607 kilolitres a day before 2076 BS. Fuel consumption is around 500 kilolitres at the moment&rdquo;, Upadhaya said adding &ldquo;Aviation fuel sale will get back to the pre-COVID level slowly&rdquo;.&nbsp;</span><br />
&nbsp;</p>

<p><span style="font-size:20px">Despite the fall in the consumption of aviation fuel, international flights to and from Nepal have, however, increased compared to the last year. Likewise, the number of domestic flights has not gone down as well. &nbsp;</span></p>

<p><span style="font-size:20px">Tribhuvan International Airport&rsquo;s spokesperson Teknath Sitaula said number of flights had remained unchanged in the last five months. Nepali airports conduct 35 international flights daily on average these days.</span></p>

<p><span style="font-size:20px">Normally, international airlines refuel in Nepal when the price is equal to the international market. Even though the price of fuels, including aviation fuel, has declined in the international market, Nepal Oil Corporation (NOC) has not adjusted the price of aviation fuel to cover the losses. Aviation experts say that international airlines refuel at transit not in Nepal owing to high prices.&nbsp;</span></p>

<p><span style="font-size:20px">Board of Directors of the Nepal Oil Corporation fixes the prices of aviation fuel and LP gas. However, price of aviation fuel has not been adjusted because the NOC Board of Directors has not held the meeting for a long time, according to Upadhyay.</span></p>

<p><span style="font-size:20px">According to NOC, the current price of aviation fuel in Nepal is USD 1.645 per litre. &nbsp;Nepal Rastra Bank has set the selling rate of USD 1 to NRP 132.88.&nbsp;</span></p>

<p><span style="font-size:20px">Failure to adjust the price of international aviation fuel has&nbsp; reduced consumption, decreasing&nbsp;the profit of the NOC. The more aviation fuel NOC sells, the more profit it makes.&nbsp;</span></p>

<p><span style="font-size:20px">Since NOC makes income in the US Dollar from the sale of aviation fuel to international airlines, it will not reduce the country&rsquo;s foreign currency reserve, say knowledgeable people.&nbsp;</span></p>

<p><span style="font-size:20px">&nbsp;&nbsp; &nbsp;</span></p>
',
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			'created' => '2022-12-26',
			'modified' => '2022-12-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16345',
			'image' => '20221226012036_collage (14).jpg',
			'article_date' => '2022-12-26 13:15:29',
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	(int) 9 => array(
		'Article' => array(
			'id' => '15349',
			'article_category_id' => '268',
			'title' => 'Exporters Demand Export Credit Insurance Facility ',
			'sub_title' => '',
			'summary' => 'May 27: Export Credit Insurance (ECI) to cover the risk of non-payment of goods exported abroad is not yet available in Nepal.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 27: Export Credit Insurance (ECI) to cover the risk of non-payment of goods exported abroad is not yet available in Nepal. Many countries around the world have introduced export credit insurance targeting non-payment risks in exports.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Lately, the export of goods from Nepal has been increasing. With the increase in size of the exports, the problem of non-payment is also increasing. This has discouraged exporters. However, it seems that the concerned bodies have not paid enough attention to introduce export credit insurance to cover such risks.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Exporters have been demanding the government to bring such insurance facilities since the last 2/3 years. But they say that the government has ignored this issue. The Insurance Board, the regulatory body of the insurance sector, says it is ready to approve any such products if the insurance companies announce them.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Ashok Kumar Agrawal, general secretary of the Nepali Readymade Garment Industry Association, says that credit export insurance should be introduced. &quot;Lately, the risk of non-payment has been increasing along with Nepal&#39;s exports,&quot; he said, &quot;In this case, we want to insure ourselves by paying the required fee. However, we have not been able to get that facility. The government needs to pay attention to this immediately.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Export credit insurance has come into practice in many countries of the world. In case of non-payment of the exported item, up to 95% of the export value can be obtained from the insurance companies. However, Nepali exporters have not yet been able to get such facility.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal should increase its exports at any cost to reduce the trade deficit. For that, exporters say that they need motivation, which is possible through such insurance facility.&nbsp;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Agrawal said his industry had exported its products to the United States a few years ago, but the buyers did not pay. &quot;I then filed a lawsuit in a US court,&quot; he said, &quot;The court asked whether there is export credit insurance or not.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He says that the need and importance of such insurance has been increasing in recent days. &quot;The government should be positive about this issue,&quot; he said.&nbsp; </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A few days ago, a special team from Germany came to Kathmandu and informed the insurance board and the companies about such insurance through a presentation. After that, a debate has started on the issue of bringing such a product in the insurance sector. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Executive Director of the Insurance Board Raju Raman Poudel said that the board is positive in this regard.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;So far, no such insurance product has been introduced in Nepal. The insurance companies have to take the initiative. If they bring such product, we are ready to approve it,&quot; he said.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Insurance companies, on the other hand, say that even if such insurance is introduced, it will be a challenge to implement it. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">CEO of NLG Insurance Suresh Ballav Pant argues that it is challenging to implement such product. &quot;First, the insurance company should know all the credit of the customers. Moreover, the foreigners are the customers during export,&quot; he said, &quot;We&#39;ll need&nbsp; information such as loan payment to the bank by the customers while importing other goods, and business transactions which is difficult to get. So it is quite challenging.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '15338',
			'article_category_id' => '268',
			'title' => 'Nepal’s Import Declines by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'May 26: Amid growing concerns over rising imports and the consequent pressure on foreign exchange reserves, the Department of Customs on Tuesday released promising data.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 26: Amid growing concerns over rising imports and the consequent pressure on foreign exchange reserves, the Department of Customs on Tuesday released promising data.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;According to the country&rsquo;s foreign trade data in the first ten months of the current fiscal year (mid-July-mid-May) released by the department on Tuesday, goods worth Rs 137 billion were imported from abroad in the month of Baishakh (mid-April to mid-May), which is less than the imports in the previous month (mid-March to mid-April) by Rs 20 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The imports of Nepal had reached an all-time high of Rs 188 billion in the month of Mangsir (mid-November to mid-December) last year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The impact of the government&#39;s policy to curb imports of luxury goods has been felt in May. The central bank had been taking various steps to control imports since December. In the first week of December, NRB had introduced a provision for keeping a 50 to 100 per cent cash margin while opening LC for the import of some items.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Later, NRB called the chief executive officers of all commercial banks on April 7 and verbally instructed them not to open LCs for the import of luxury goods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">On April 29, the Ministry of Industry, Commerce and Supplies published a notice in the Nepal Gazette and banned the import of 10 types of goods including vehicles, till the end of the current fiscal year (mid-July).</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;According to the department, goods worth Rs 1646.50 billion have been imported till mid-May against goods worth Rs 1,254.11 billion in the corresponding period of the previous fiscal year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Imports in the current fiscal year has increased by 27.95 percent compared to last fiscal year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, Nepal&rsquo;s exports increased by 59.80 per cent to Rs 173.34 billion during the review period. Although the growth rate of exports is high, it has not been able to play a significant role in reducing the trade deficit. As a result, the trade deficit has increased to over Rs 1431.30 billion. The trade deficit increased by 24.94 per cent compared to the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Statistics from the department show that mostly fuels were imported during this period. The first, second and third imported items are diesel, petrol and cooking gas, respectively. Diesel import has reached more than Rs 123.70 billion as of mid-May.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;More than Rs 54.83 billion has been spent on importing petrol. Similarly, cooking gas worth more than Rs 52.59 billion has been imported during this period. Iron and steel raw materials constitute the fourth most imported items with imports worth Rs 43.55 billion.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Soybean oil tops the list of Nepal&rsquo;s exported items. Soybean oil worth Rs 45.35 billion was exported during the review period. Refined bleached deodorized palm olein worth Rs 14.78 billion was exported. It is the second-largest exported item. Palm oil is the third-largest export, worth more than 13.97 billion.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '15336',
			'article_category_id' => '268',
			'title' => 'India Imposes Ban on Export of Sugar',
			'sub_title' => '',
			'summary' => 'May 26: India has banned export of sugar within days after banning the export of wheat from the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">May 26: India has banned export of sugar within days after banning the export of wheat from the country. This move is certain to cause scarcity of sugar in Nepal and result in price hike as the domestic production of sugar is not sufficient to meet the internal demand. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The annual consumption of sugar in Nepal is around 250,000 metric tons while the domestic production is just 140,000 metric tons. The country has been supplying the insufficient amount of sugar through imports. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of India is said to have banned the export of sugar fearing global food crisis due to the Russia-Ukraine war. India is the second largest exporter of sugar after Brazil. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal has been relying on sugar imported from India, Pakistan and other countries to meet the internal demand for sugar. Pakistan has also imposed a ban on export of sugar. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Stakeholders believe that the latest decision taken by India is certain to cause scarcity of sugar and also increase its price in the domestic market of Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kapil Mani Mainali, chairman of Nepal Sugarcane Producers Association, said that the ban imposed on export of sugar by India will have a profound impact on Nepal. According to Mainali, the annual demand of sugar in Nepal is around 250,000 metric tons. He informed that the Nepal has produced 140,000 metric tons of sugar this year. He claimed that there will be a scarcity of sugar in the near future due to the ban imposed by India.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">As per the latest data of the department of customs, Nepal has imported 89,000 metric tons of sugar so far in the current fiscal year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Officials of the state-owned Salt Trading Corporation, which sells sugar at subsidized rate, say that it has a stock of 32 tons of sugar left. Salt Trading Corporation has been selling sugar in retail amount so that the stock does not run out. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It has been almost one and a half years since the Salt Trading Corporation sought permission from the government to procure 50,000 metric tons of sugar but the proposal has not been approved yet.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Salt Trading Corporation has invited tender bids at both international and domestic levels to purchase 10,000 metric tons of sugar. However, the corporation&rsquo;s spokesperson Kumar Rajbhandari believes that the procurement process will be affected due to the ban imposed by India. He believes that the India&rsquo;s ban will create a shortage of sugar in Nepal and will also cause an increase&nbsp; in price.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The retail price of sugar in the local market is between Rs 90 to Rs 95 per kg at present. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Big businessmen and traders are expected to create an artificial shortage of sugar after India imposed such ban, says Amul Kaji Tuladhar, general secretary of Retail Trade Association. &nbsp;&nbsp;</span></span></p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '15308',
			'article_category_id' => '268',
			'title' => 'MPs Stress on Establishment of Industries to Substitute Import-Oriented Economy   ',
			'sub_title' => '',
			'summary' => 'May 22: Lawmakers of the ruling parties during the deliberations on the principles and priorities of the Appropriation Bill for the Fiscal Year 2022/23 on Friday argued that the principles and priorities were practical and scientific in nature.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">May 22: Lawmakers of the ruling parties during the deliberations on the principles and priorities of the Appropriation Bill for the Fiscal Year 2022/23 on Friday argued that the principles and priorities were practical and scientific in nature.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, lawmakers of the opposition party blamed that the principles and priorities have no course and aim.&nbsp; Members of Parliament (MPs) stressed the need of taking initiatives for making economy export-oriented, increasing domestic production and increasing export instead of import.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">They said that initiatives should be taken immediately to resolve the current crisis that has emerged due to the declining foreign exchange reserves and rising balance of payments deficit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lawmakers of the opposition party criticized the government for lifting the ban on import goods like dates, betel nuts and black pepper.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">CPN (UML) lawmaker Rajendra Gautam said that the principles and priorities of the Appropriation Bill presented by the government are not matching principally.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Gagan Kumar Thapa of the Nepali Congress drew the attention of the government to establish industries by creating investment-friendly environment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Stating that urbanization and income had increased and so was the scope of employment, he spoke of the need to formulate policies, programme and plans attracting foreign investment and expanding domestic investment within a decade.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He was of the view that workers&#39; participation could be increased and value chain could be grown since the bases of industries such as shoe, textile and garment industries have increased.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, CPN (Maoist Centre)&#39;s parliamentarian Barshaman Pun called for reforms in the policy level and structural level to increase employment and give newness in agriculture sector.&nbsp; The former finance minister also urged to give special priority to reservoir-based hydropower projects and increase investment for energy security.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He opined that the country&rsquo;s foreign exchange reserves have been affected by a large number of Nepali students leaving abroad annually for further studies taking huge chunks of Nepali currency abroad.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Parliamentarians Gopal Bom and Nirudevi Pal expressed their views on theoretical issues of Appropriation Bill and pressed for effective implementation of policy, programmes and plans. -- RSS</span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '15284',
			'article_category_id' => '268',
			'title' => 'India bans Export of Wheat',
			'sub_title' => '',
			'summary' => 'May 16: India banned the exports of wheat just a day after New Delhi declared a goal of setting a new record for shipment of exports.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 16: India banned the exports of wheat just a day after New Delhi declared a goal of setting a new record for shipment of exports.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Extreme heat in India resulted in the decline in wheat production this year and the prices have skyrpcketed. The Indian government has made it clear that the ban on export will not be applicable for LC opened before May 13. According to Reuters, exports to countries that demand food supplies to meet food security needs will not be stopped.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Importers from around the world turned to India, the world&#39;s second-largest wheat producer, after exports via the Black Sea came to a halt due to Russia&#39;s invasion of Ukraine on February 24. Prior to the ban, India had set a target of exporting 10 million tons of wheat this year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">India is one of the world&#39;s largest wheat exporters. The decision of imposing a ban on exports can push the already tight wheat prices in the international market to new heights and put the poor consumers of Asia and Africa in a difficult position.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">An official of a Mumbai-based multinational trading company said, &ldquo;The ban is shocking. We already expected control on exports a few months back. However, the rates of inflation must have played a vital role in changing the decision of the government.&rdquo; The rising inflation in food and energy prices pushed India&#39;s annual inflation close to 8 percent in April.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Wheat prices in India have reached record highs. In some markets, it has reached IRs 25,000 (Rs 40,000) per ton. The government of India has fixed the minimum support price of wheat at IRs 20,150 per metric ton in the country. Rising prices of fuel, labor, transportation and packaging have raised the price of wheat flour in India.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;&ldquo;It is not just wheat. The price of everything has raised concerns about inflation. This is the reason why the government decided to ban wheat exports. This step is a big caution for us,&rdquo; said a senior government official on condition of anonymity.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Just this week, India said that it would set a record in wheat exports in the current fiscal year which started on April 1. The Indian government had planned to send delegations to Morocco, Tunisia, Indonesia and the Philippines to find ways to increase wheat exports. Last February, the government projected wheat production to exceed 110 million metric tons this year. Later in May, the projection was reduced to 105 million metric tons. According to a New Delhi-based multinational trading company, the heat wave in India in mid-March is expected to limit wheat production to just 100 million metric tons.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The government&rsquo;s procurement has dropped by more than 50 per cent. The supply in the spot market is much less as compared to last year. All of this is indicative of low yields,&rdquo; said the dealer. India exported 7 million metric tons of wheat in March while taking advantage of rising global prices following the Russia-Ukraine war. This record setting export is 250 percent more than the previous year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The rise in wheat prices was moderate and Indian prices are still lower than the world market. In some parts of the country, the price of wheat rose to its current level last year itself, so a ban on exports is a necessary response,&rdquo; Reuters quoted New Delhi-based businessman Rajesh Pahadia Jain as saying,</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Jain said India can export at least 10 million tons of wheat this year, despite a drop in production and procurement by the state-owned Food Corporation of India (FCI). So far, FCI purchased just over 19 million tons of wheat from farmers, which was 43.3 million ton last year. FCI buys food from local farmers to run food welfare programmes for the poor. Unlike in previous years, farmers preferred to sell wheat to private traders this time. Farmers are attracted to them because they pay more than the price fixed by the government. India exported 1.4 million tons of wheat in April and 1.5 million tons in May. Another Indian wheat trader says, &ldquo;India&#39;s ban will push up the price of wheat worldwide. There is no big supplier in the market right now.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '15238',
			'article_category_id' => '268',
			'title' => 'Nepal Exporting Shoes to 17 Countries',
			'sub_title' => '',
			'summary' => 'May 9: Nepal has been exporting shoes manufactured in the country to 17 nations, including India.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 9: Nepal has been exporting shoes manufactured in the country to 17 nations, including India. Nepali shoes, which used to be exported only to India in the past, are now available from the Gulf countries to developed countries like the USA, the UK and Japan.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Domestic shoe manufacturers are excited that the Nepali shoes have entered the international market. They say that the shoes could be&nbsp; exported to more countries that with the help of the government.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nani Raj Ghimire, president of the Shoe Producers Association of Nepal, said that domestic industries are currently producing less shoes than their capacity.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that the footwear export which was limited to India has now reached more than 17 countries, he said that the volume of exports could be increased with the help of the government. &quot;Earlier, we had problems in exporting shoes due to poor quality,&quot; he said.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">If the Nepali shoe industries operate at full capacity, they can produce 160 million pairs of shoes annually. According to the stakeholders, shoe production started to gain momentum in Nepal since 2070 BS. Domestic shoe manufacturer had invested heavily in production before Covid-19. The investment has been affected heavily in the last two years due to the pandemic. According to businessmen, more than Rs 30 billion has been invested in 1,500 industries.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal&#39;s internal demand for footwear is 100 million pairs annually. According to President Ghimire, more than 30 million pairs of shoes have been exported to different countries in recent times. Footwear entrepreneurs said that the volume of export can be increased and the basis for long-term export can be made if government agencies like foreign embassies and consulates help in promotion by setting up separate desks. They complained that there are problems due to unstable interest rates and lack of provision for industrial loans.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">At present, industries are not operating at full capacity. &quot;The footwear industry produces only 35 to 40 per cent of the total capacity,&quot; he said, adding that &quot;It meets 65 per cent of the domestic demand.&quot;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;Currently, more than 50,000 people are directly employed by footwear industries,&quot; Ghimire said. &quot;With the help of the state, it can be increased to 75,000.&quot;</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '21502',
			'article_category_id' => '268',
			'title' => 'Nepal’s Trade Deficit Stands at Rs 1314.44 Billion',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year. According to the Nepal Rastra Bank (NRB), such deficit had decreased 15.2 percent in the corresponding period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report based on eleven month&rsquo;s data unveiled by the NRB on Wednesday mentions that the export-import ratio decreased to 9.6 percent in the review period from 9.7 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">During the review period, merchandise exports decreased 3.0 percent to Rs 139.26 billion compared to a decrease of 22.7 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, exports to India decreased 4.5 percent while that to China increased 57.7 percent. Similarly, export to other countries decreased 1.7 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, bran, tea among others decreased, the NRB report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, merchandise imports decreased 1.8 percent to Rs 1453.70 billion compared to a decrease of 16 percent a year ago. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, imports from India decreased 3.1 percent while that from China increased 34.8 percent. Similarly, import from other countries decreased 3.1 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Imports of transport equipment, vehicle and spare parts, readymade garments, electrical equipment, aircraft spare parts, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on customs points, exports from Bhairahawa, Birgunj, Jaleswor, Krishnanagar, Mechi, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Birgunj, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani Customs Offices increased whereas imports from all the other major customs points decreased in the review period.</span></span></p>
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			'created' => '2024-07-11',
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			'keywords' => 'trade, deficit, import, export, Nepal, foreign, customs, vehicle, petrol',
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		'Article' => array(
			'id' => '17720',
			'article_category_id' => '268',
			'title' => 'Cost of Import of Food Items  Via Birgunj Customs Office Doubles ',
			'sub_title' => '',
			'summary' => 'Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 1: Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in the cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Information officer Ramchandra Dhakal, Nepal has imported food items worth NPR 28.91 billion during this period, whereas only NPR 12.18 billion was spent on the import of food items during same period in the previous fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, the import of paddy has taken the lead. Traders have increased the import of paddy after India fixed a quota of 6 lakh tons. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As most of the rice mills in Nepal rely on imported paddy from India, Nepal imported 2,88,000 tons of paddy in nine months through the Birgunj customs point.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This amount has risen significantly from 1,93,000 tons of paddy imported during the same period in the previous fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the import of other food items, except paddy, has decreased. Import of rice has fallen to 30,000 tons worth NPR 2.35 billion compared to the previous fiscal year&#39;s import of 37,000 tons worth NPR 2.37 billion. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the import of maize has decreased by 20 percent to 62,658 tons worth NPR 10.61 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The imposition of a quota system by India on wheat export has resulted in an 83 percent decline in wheat import, which has adversely affected the production of domestic industries. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Only 3,472 tons of wheat were imported via the Birgunj customs office during the first nine months of the current fiscal year compared to 20,422 tons during the same period last fiscal year. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Import of other food items such as millet has also decreased.</span></span></p>
',
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			'created' => '2023-05-01',
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			'description' => '',
			'sortorder' => '17454',
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		'Article' => array(
			'id' => '17429',
			'article_category_id' => '268',
			'title' => 'Rasuwagadhi Border Point Reopens ',
			'sub_title' => '',
			'summary' => 'Rasuwagadhi border point, which was closed following the  breakout of COVID-19 pandemic, has resumed its operation from Saturday. ',
			'content' => '<p><span style="font-size:18px">April 2: Rasuwagadhi border point, which was closed following the&nbsp; breakout of COVID-19 pandemic, has resumed its operation from Saturday.&nbsp;</span></p>

<p><span style="font-size:18px">In the presence of Secretary Madhukumar Marasini at the Ministry of Industry, Commerce and Supplies and Vice President of the Tibet Autonomous Region (TAR)of China Silang Nima, &nbsp;Nepali containers carrying goods made in Nepal left for Kerung via Rasuwagadhi&rsquo;s Miteri Bridge.&nbsp;</span></p>

<p><span style="font-size:18px">As per the recent agreement between Nepal and TAR, the Tatopani crossing will also be operational from May 1. The agreement was reached during a bilateral talks held in Lhasa on March 29.</span></p>

<p><span style="font-size:18px">After holding talks to open the border, a team of government officials including Secretary Marasini and Joint Secretary Jitendra Basnet at the Home Ministry had returned to Rasuwa via Rasuwagadhi border point.&nbsp;</span></p>

<p><span style="font-size:18px">Secretary Marasini informed that other border points with China will also be opened. &ldquo;Tatatopani border point will resume from May 1,&rdquo; said Marasini.&nbsp;</span></p>

<p><span style="font-size:18px">The resumption of Rasuwagadhi border point with China has made traders and businessmen happy and excited in the area, said Nepal Kerung Business Association Founder Chairman Man Bahadur Tamang. A total of 24 trucks loaded with Nepal-made products left for Kerung on Saturday.&nbsp;</span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2023-04-02',
			'modified' => '2023-04-02',
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			'description' => '',
			'sortorder' => '17164',
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		'Article' => array(
			'id' => '17348',
			'article_category_id' => '268',
			'title' => 'Foreign Trade Shrinks Despite Import Ban Lift ',
			'sub_title' => '',
			'summary' => 'Country’s foreign trade has decreased by 20.14 percent in the eight months of the current fiscal year. ',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:18px">March 23: Country&rsquo;s foreign trade has decreased by 20.14 percent in the eight months of the current fiscal year.&nbsp;</span></p>

<p><span style="font-size:18px">Despite the surge of the foreign exchange reserve, lifting of the ban on the import of luxurious goods and removal of 50 and 100 percent cash margin while opening letter of credit(LC), foreign trade has not improved.&nbsp;</span></p>

<p><span style="font-size:18px">Soaring inflation triggered by Russia-Ukraine war and high banking interest rates have badly affected the import and export, causing the international trade to drop compared to the last fiscal year.&nbsp;</span></p>

<p><span style="font-size:18px">In the first eight months of the current fiscal year Nepal&rsquo;s total foreign trade was Rs 1,163 billion compared to Rs 1456.48 billion in the last fiscal year, according to the Department of Customs. </span></p>

<p><span style="font-size:18px">The country&rsquo;s trade deficit has shrunk by 17.86 per cent to Rs 953 billion in the first eight months of the fiscal year compared to last year when the trade gap stood at Rs 1,160 billion.</span></p>

<p><span style="font-size:18px">Statistics released by the Department of Customs on Wednesday show that &nbsp;Nepal imported goods worth over Rs 1,058 billion in the review period, a decrease by 19.13 per cent compared to the imports over the same period last year. The goods were imported from over 158 countries.</span></p>

<p><span style="font-size:18px">Meanwhile, exports from the country stood at Rs 104 billion in the eight months of the current fiscal, down 29.07 per cent compared to the same review period last fiscal year.</span></p>

<p><span style="font-size:18px">In the review period, the imports to exports ratio increased by 14.02 per cent compared to last year in the first eight months of this fiscal year.</span></p>

<p><span style="font-size:18px">Nepal continues to have the highest trade deficit with its neighbours &mdash; India and China.<br />
According to the data, Nepal imported goods worth Rs 656.80 billion from the southern neighbour in the review period, while exports to India amounted to Rs 74 billion.</span></p>

<p><span style="font-size:18px">&nbsp;The trade deficit with India stood at Rs 582 billion in the review period. Meanwhile, the trade deficit with China stood at Rs 145.26 billion in the first eight months of the current fiscal year.</span></p>
',
			'published' => true,
			'created' => '2023-03-23',
			'modified' => '2023-03-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '17083',
			'image' => '20230323065442_collage (33).jpg',
			'article_date' => '2023-03-23 06:51:55',
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	(int) 4 => array(
		'Article' => array(
			'id' => '17304',
			'article_category_id' => '268',
			'title' => 'Nepal And India Agree To Prepare Modality To Export Electricity to Indian States Via Bihar',
			'sub_title' => '',
			'summary' => 'Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">March 19: Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.&nbsp;&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The 14th meeting of the Nepal-India Power Exchange Committee concluded on March 17 at New Delhi, India, decided to prepare the modality for power export from Nepal to various states in India via Bihar within a month. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The meeting co-chaired by Executive Director of the Nepal Electricity Authority Kulman Ghising and member of Power System member of the Central Electricity Authority of India Ashok Kumar Rajput agreed to finalize the modality within a month for the same. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The agreement has ensured the additional market for the sale of surplus electricity during rainy season&quot;, Executive Director Ghising said.&nbsp; Kataiya (Bihar)-Kushaha (Nepal) and Raxaul-Parawanipur 132-KV transmission line are connected with Bihar.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">As per the Power Exchange Agreement, the meeting has determined new the price of per unit electricity at Rs 11.54 for the fiscal year 2022/23. The new rate is not on a take-or-pay modality. We have to pay the rate, only if we purchase electricity. This rate is cheaper than the current Indian market and we will get the same rate even during export;&rdquo; said Ghising. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">When the NEA made its first-ever effort to buy electricity from India through competitive bidding for long-term power supply in December last year, the Indian companies had proposed to sell power to Nepal at Rs 7.50 and Rs 8.70 per unit for February-March and April-May, respectively.&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The prices they quoted are higher than the rate agreed between Nepal and India during the Power Exchange Committee meeting.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Buying electricity from India&rsquo;s competitive market has been even more expensive. Up to INR 12 per unit has to be paid for the power on which an additional 1.5 Indian rupees is added towards tariff for transmission charges, according to the NEA. &ldquo;Hence, the rate fixed, at present, is cheaper than others,&rdquo; the power utility was quoted as saying in the statement.&nbsp;</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The NEA has been importing electricity from India&rsquo;s Bihar, Uttar Pradesh and Uttarakhand as per the electricity exchange agreement. Only Bihar and Uttar Pradesh are connected to Nepal through 132 KV transmission lines.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal imports electricity from India under three separate agreements. Nepal can import power from India based on the power exchange agreement, Mahakali Treaty and open competition in the Indian power market. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The electricity purchased in the open market is being imported through the 400kV Dhalkebar-Muzaffarpur cross-border double-circuit transmission line. Nepal also sells electricity in the Indian market through this power line.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal Electricity Authority traded surplus electricity worth Rs 8.4 billion to Indian since the beginning of the current fiscal year 2022/23 to till the date.&nbsp; </span></span></span></p>
',
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			'created' => '2023-03-19',
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			'sortorder' => '17042',
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		'Article' => array(
			'id' => '17164',
			'article_category_id' => '268',
			'title' => 'Tea Export Surges By 30 Percent ',
			'sub_title' => '',
			'summary' => 'The export of Nepali tea has increased by 30 percent. The export of Nepali tea has gone up by 29.9 percent in the first seven months of the current fiscal year compared to the same period last fiscal year, according to Trade and Export Promotion Center.',
			'content' => '<p><span style="font-size:18px">March 3: The export of Nepali tea has increased by 30 percent.&nbsp;</span></p>

<p><span style="font-size:18px">The export of Nepali tea has gone up by 29.9 percent in the first seven months of the current fiscal year compared to the same period last fiscal year, according to Trade and Export Promotion Center.</span></p>

<p><span style="font-size:18px">Nepal had exported 7,846 metric tons of the tea worth Rs 2.8 billion in first seven months of&nbsp;the last fiscal year. During the same period in the current fiscal year, total tea export stood at 12,564 metric tons worth Rs 2.71 billion.&nbsp;</span></p>

<p><span style="font-size:18px">Nepali tea is being exported to 166 countries including India, the United States of America, Germany and the United Kingdom. In the export of agricultural products, tea comes only after cardamom.&nbsp;</span></p>

<p><span style="font-size:18px">According to National Tea and Coffee Development Board, Nepal had exported 11,920 metric tons of the tea worth Rs 3.79 billion in the fiscal year 2077/78.</span></p>

<p><span style="font-size:18px">&nbsp;Information Officer Dipak Khanal of the National Tea and Coffee Development Board said that the export quantity had witnessed&nbsp;massive rise&nbsp;as the tea from the last year&#39;s stock&nbsp;was also exported simultaneously.</span></p>

<p><span style="font-size:18px">Saying that quality of Nepali tea was not at par with international standard, India had banned&nbsp;the mixing of Nepali tea with tea from Darjeeling last year.&nbsp;</span></p>

<p><span style="font-size:18px">Nepali tea entrepreneurs had failed to export tea due to the Indian ban last year. As a result, 3,000 metric tons of tea was in stock in Jhapa.&nbsp;</span></p>

<p><span style="font-size:18px">Following the Nepal government&#39;s diplomatic efforts, India had lifted the ban.&nbsp;&nbsp;</span></p>

<p><span style="font-size:18px">Despite the increased demand for Nepali tea this year from different countries, selling of the stock tea was the main reason behind the&nbsp;rise of tea export this fiscal year, Khanal said.&nbsp;</span></p>
',
			'published' => true,
			'created' => '2023-03-03',
			'modified' => '2023-03-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16902',
			'image' => '20230303065340_collage (11).jpg',
			'article_date' => '2023-03-03 06:40:44',
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	(int) 6 => array(
		'Article' => array(
			'id' => '16869',
			'article_category_id' => '268',
			'title' => 'Volume and Price of Imported Apples Decline; Price Yet to Be Cheaper in the Market',
			'sub_title' => '',
			'summary' => 'Nepal has imported apples worth Rs 3.49 billion in the first six months of the current fiscal year. From the import of apples worth Rs 3.49 billion, the government has collected a revenue of Rs 400 million during the review period.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">January 29: Nepal has imported apples worth Rs 3.49 billion in the first six months of the current fiscal year.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">From the import of apples worth Rs 3.49 billion, the government has collected a revenue of Rs 400 million during the review period.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The country imported 4,62,97,052 kilograms of apples. This shows that price of per kg apples was Rs 75 on average.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">As many as 4,89,99,989 kilograms of apples worth Rs 3.82 billion were imported during the same period last fiscal year. The average price of the apples was Rs 78 per kg then.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Compared to the last fiscal, import of the apples along with its price has declined. Apple import has declined by eight per cent while the price has fallen by Rs 3 per kg in the current fiscal compared to the last fiscal.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Customers , however, have not felt relieved as the price has yet to come down in the domestic market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Entrepreneur Amar Baniya from Kuleswor fruit market said that rise of domestic production of the apples had led to import fall. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Baniya says that import of other fruits had fallen, in addition to apples.&nbsp;&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Nepal imports apples from India, China and the Untied States of America. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A total of 2,92,53,638 kilograms of apples worth Rs 1.92 billion were imported from India. Likewise, country brought in 1,70,22,834 kilograms of apples worth Rs 1.57 billion from China, while import of apples from the Unites States was 20,580 kilograms&nbsp;worth Rs 5 million in the first six months of the current fiscal.&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2023-01-29',
			'modified' => '2023-01-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16608',
			'image' => '20230129060621_collage (38).jpg',
			'article_date' => '2023-01-29 05:56:14',
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	(int) 7 => array(
		'Article' => array(
			'id' => '16681',
			'article_category_id' => '268',
			'title' => 'Potato Import Plummets by 30,400 Metric Tons ',
			'sub_title' => '',
			'summary' => 'Import of potato, a staple vegetable in Nepali kitchen, has decreased by 30,400 metric tons. In the current fiscal year, the country imported potatoes worth Rs 723 million less than last year.',
			'content' => '<p><br />
<span style="font-size:16px">January 8: Import of potato, a staple vegetable in Nepali kitchen, has decreased by 30,400 metric tons.&nbsp;In the current fiscal year, the country imported potatoes worth Rs 723 million less than last year.</span></p>

<p><span style="font-size:16px">According to the data at the Department of Customs, import of potatoes slumped in the first five months of the current fiscal year compared to the same period last year.</span></p>

<p><span style="font-size:16px">In the last few years, domestic potato production has risen, causing the import to slump.&nbsp;<br />
According to the data at the department, Nepal had imported 218,305 metric tons of potatoes worth 5.52 billion rupees from different countries in the first five months of fiscal year 2078/2079.&nbsp;</span></p>

<p><span style="font-size:16px">As many as 187,858 metric tons of potatoes worth Rs 4.80 billion were imported during the same period in the current fiscal year.Statistics at the department show that potato import has been falling continuously in the recent&nbsp;years in Nepal.&nbsp;</span></p>

<p><span style="font-size:16px">&nbsp;In the fiscal year 2076/77, 341,914 tons of potatoes worth Rs 8.77 billion were imported, while 339,622 tons of potato worth Rs 8.49 billion were imported in the fiscal year of 2077/78.</span></p>

<p><span style="font-size:16px">Basudev Kafle, Head of &nbsp;National Center for Potato, Vegetable and Spice Crops Development attributed rise in the domestic potation &nbsp;production to the drop in the potato import.&nbsp;</span></p>

<p><span style="font-size:16px">According to Kafle, &nbsp;166 pocket areas have been established for potato farming and 200 farmers&rsquo; groups have been involved under the Prime Minister Agriculture Modernization Programme across the country.</span></p>

<p><span style="font-size:16px">With involvement of farmers, food potato and seed potato promotion programmes have been implemented.&nbsp;<br />
As a result, farmers have received quality seed, contributing to the rise of potato production.</span></p>

<p><span style="font-size:16px">In the current fiscal year, a budget of Rs 147.8 million has been allocated to 97 local levels for food potato promotion and Rs 33.34 million to 22 local levels for seed potato promotion program.</span></p>

<p><span style="font-size:16px">Data at the center shows that the annual production of potatoes is increasing in recent years.&nbsp;<br />
In the fiscal year 2075/76, potato was cultivated in 193,200 hectares of land in Nepal. Country had produced 28,51,800 metric tons in the fiscal year. &nbsp;</span></p>

<p><span style="font-size:16px">In the fiscal year 2076/77, potato was grown in 195,100 hectares of the land. &nbsp;The potato production increased &nbsp;to 31,12,900 metric tons of potatoes. Similarly, in the fiscal year 2077/78, as many as &nbsp;3,325,000 metric &nbsp;tons of potatoes were produced in&nbsp;198,000 hectares of land.</span></p>

<p><span style="font-size:16px">Domestic potato production meets around 90 percent of total potato demand in the country. &nbsp;However, experts say that large quantities of potatoes are imported for industrial raw materials.&nbsp;</span></p>

<p><span style="font-size:16px">National center for Potato, Vegetable and Spice Crop Development Nigale&rsquo;s Head Bijaya Kumar Giri says that import of 10 percent potato is enough to meet demand for consumption.&nbsp;</span></p>

<p><span style="font-size:16px">&ldquo;Potatoes are being imported in large quantities for chips, French fries and other products,&rdquo;, added Giri.&nbsp;<br />
Until a few years ago, low-yielding potato seeds, such as, Cardinal, Kufri Sinduri, Kufri Jyoti would be distributed to the farmers.&nbsp;</span></p>

<p><span style="font-size:16px">However, varieties of high-yielding seeds, such as, Janakdev, Khumal Lakshmi, Khumal Vikas are provided to the farmers for potation cultivation&nbsp; these days, leading the potato production to rise. These seeds are less vulnerable to disease and pests, which also supports the growth of potato produce.&nbsp;&nbsp;</span></p>
',
			'published' => true,
			'created' => '2023-01-08',
			'modified' => '2023-01-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16422',
			'image' => '20230108065429_collage (23).jpg',
			'article_date' => '2023-01-08 06:47:54',
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	(int) 8 => array(
		'Article' => array(
			'id' => '16604',
			'article_category_id' => '268',
			'title' => 'Import and Consumption of Aviation Fuel Shrink ',
			'sub_title' => '',
			'summary' => 'Import and consumption of aviation fuel have decreased in the last five months of the current fiscal year in Nepal.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:20px">December 26: Import and consumption of aviation fuel have decreased in the last five months of the current fiscal year in Nepal.</span></p>

<p><span style="font-size:20px">According to the data at the Department of the Customs, Nepal has imported 74, 221 kilolitres of aviation fuel worth Rs 9.20 billion in the five months of the current fiscal year.&nbsp; In the same period last year, Nepal imported 80,744 kilolitres of jet fuel worth Rs 4.18 billion.</span></p>

<p><span style="font-size:20px">Experts in the aviation industry say that since international airlines do not refuel in Nepal, consumption of the aviation fuel has decreased along with its import. However, spokesperson Binitmani Upadhayya at the Nepal Oil Corporation claimed that sales of aviation fuel had dropped due to the fall in international flights post-COVID situation.&nbsp;</span></p>

<p><span style="font-size:20px">&ldquo;Sales of aviation fuel stood at 607 kilolitres a day before 2076 BS. Fuel consumption is around 500 kilolitres at the moment&rdquo;, Upadhaya said adding &ldquo;Aviation fuel sale will get back to the pre-COVID level slowly&rdquo;.&nbsp;</span><br />
&nbsp;</p>

<p><span style="font-size:20px">Despite the fall in the consumption of aviation fuel, international flights to and from Nepal have, however, increased compared to the last year. Likewise, the number of domestic flights has not gone down as well. &nbsp;</span></p>

<p><span style="font-size:20px">Tribhuvan International Airport&rsquo;s spokesperson Teknath Sitaula said number of flights had remained unchanged in the last five months. Nepali airports conduct 35 international flights daily on average these days.</span></p>

<p><span style="font-size:20px">Normally, international airlines refuel in Nepal when the price is equal to the international market. Even though the price of fuels, including aviation fuel, has declined in the international market, Nepal Oil Corporation (NOC) has not adjusted the price of aviation fuel to cover the losses. Aviation experts say that international airlines refuel at transit not in Nepal owing to high prices.&nbsp;</span></p>

<p><span style="font-size:20px">Board of Directors of the Nepal Oil Corporation fixes the prices of aviation fuel and LP gas. However, price of aviation fuel has not been adjusted because the NOC Board of Directors has not held the meeting for a long time, according to Upadhyay.</span></p>

<p><span style="font-size:20px">According to NOC, the current price of aviation fuel in Nepal is USD 1.645 per litre. &nbsp;Nepal Rastra Bank has set the selling rate of USD 1 to NRP 132.88.&nbsp;</span></p>

<p><span style="font-size:20px">Failure to adjust the price of international aviation fuel has&nbsp; reduced consumption, decreasing&nbsp;the profit of the NOC. The more aviation fuel NOC sells, the more profit it makes.&nbsp;</span></p>

<p><span style="font-size:20px">Since NOC makes income in the US Dollar from the sale of aviation fuel to international airlines, it will not reduce the country&rsquo;s foreign currency reserve, say knowledgeable people.&nbsp;</span></p>

<p><span style="font-size:20px">&nbsp;&nbsp; &nbsp;</span></p>
',
			'published' => true,
			'created' => '2022-12-26',
			'modified' => '2022-12-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16345',
			'image' => '20221226012036_collage (14).jpg',
			'article_date' => '2022-12-26 13:15:29',
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	(int) 9 => array(
		'Article' => array(
			'id' => '15349',
			'article_category_id' => '268',
			'title' => 'Exporters Demand Export Credit Insurance Facility ',
			'sub_title' => '',
			'summary' => 'May 27: Export Credit Insurance (ECI) to cover the risk of non-payment of goods exported abroad is not yet available in Nepal.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 27: Export Credit Insurance (ECI) to cover the risk of non-payment of goods exported abroad is not yet available in Nepal. Many countries around the world have introduced export credit insurance targeting non-payment risks in exports.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Lately, the export of goods from Nepal has been increasing. With the increase in size of the exports, the problem of non-payment is also increasing. This has discouraged exporters. However, it seems that the concerned bodies have not paid enough attention to introduce export credit insurance to cover such risks.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Exporters have been demanding the government to bring such insurance facilities since the last 2/3 years. But they say that the government has ignored this issue. The Insurance Board, the regulatory body of the insurance sector, says it is ready to approve any such products if the insurance companies announce them.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Ashok Kumar Agrawal, general secretary of the Nepali Readymade Garment Industry Association, says that credit export insurance should be introduced. &quot;Lately, the risk of non-payment has been increasing along with Nepal&#39;s exports,&quot; he said, &quot;In this case, we want to insure ourselves by paying the required fee. However, we have not been able to get that facility. The government needs to pay attention to this immediately.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Export credit insurance has come into practice in many countries of the world. In case of non-payment of the exported item, up to 95% of the export value can be obtained from the insurance companies. However, Nepali exporters have not yet been able to get such facility.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal should increase its exports at any cost to reduce the trade deficit. For that, exporters say that they need motivation, which is possible through such insurance facility.&nbsp;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Agrawal said his industry had exported its products to the United States a few years ago, but the buyers did not pay. &quot;I then filed a lawsuit in a US court,&quot; he said, &quot;The court asked whether there is export credit insurance or not.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He says that the need and importance of such insurance has been increasing in recent days. &quot;The government should be positive about this issue,&quot; he said.&nbsp; </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A few days ago, a special team from Germany came to Kathmandu and informed the insurance board and the companies about such insurance through a presentation. After that, a debate has started on the issue of bringing such a product in the insurance sector. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Executive Director of the Insurance Board Raju Raman Poudel said that the board is positive in this regard.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;So far, no such insurance product has been introduced in Nepal. The insurance companies have to take the initiative. If they bring such product, we are ready to approve it,&quot; he said.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Insurance companies, on the other hand, say that even if such insurance is introduced, it will be a challenge to implement it. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">CEO of NLG Insurance Suresh Ballav Pant argues that it is challenging to implement such product. &quot;First, the insurance company should know all the credit of the customers. Moreover, the foreigners are the customers during export,&quot; he said, &quot;We&#39;ll need&nbsp; information such as loan payment to the bank by the customers while importing other goods, and business transactions which is difficult to get. So it is quite challenging.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2022-05-27',
			'modified' => '2022-05-27',
			'keywords' => '',
			'description' => '',
			'sortorder' => '15092',
			'image' => '20220527045650_Export.jpg',
			'article_date' => '2022-05-27 16:56:09',
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	(int) 10 => array(
		'Article' => array(
			'id' => '15338',
			'article_category_id' => '268',
			'title' => 'Nepal’s Import Declines by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'May 26: Amid growing concerns over rising imports and the consequent pressure on foreign exchange reserves, the Department of Customs on Tuesday released promising data.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 26: Amid growing concerns over rising imports and the consequent pressure on foreign exchange reserves, the Department of Customs on Tuesday released promising data.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;According to the country&rsquo;s foreign trade data in the first ten months of the current fiscal year (mid-July-mid-May) released by the department on Tuesday, goods worth Rs 137 billion were imported from abroad in the month of Baishakh (mid-April to mid-May), which is less than the imports in the previous month (mid-March to mid-April) by Rs 20 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The imports of Nepal had reached an all-time high of Rs 188 billion in the month of Mangsir (mid-November to mid-December) last year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The impact of the government&#39;s policy to curb imports of luxury goods has been felt in May. The central bank had been taking various steps to control imports since December. In the first week of December, NRB had introduced a provision for keeping a 50 to 100 per cent cash margin while opening LC for the import of some items.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Later, NRB called the chief executive officers of all commercial banks on April 7 and verbally instructed them not to open LCs for the import of luxury goods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">On April 29, the Ministry of Industry, Commerce and Supplies published a notice in the Nepal Gazette and banned the import of 10 types of goods including vehicles, till the end of the current fiscal year (mid-July).</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;According to the department, goods worth Rs 1646.50 billion have been imported till mid-May against goods worth Rs 1,254.11 billion in the corresponding period of the previous fiscal year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Imports in the current fiscal year has increased by 27.95 percent compared to last fiscal year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, Nepal&rsquo;s exports increased by 59.80 per cent to Rs 173.34 billion during the review period. Although the growth rate of exports is high, it has not been able to play a significant role in reducing the trade deficit. As a result, the trade deficit has increased to over Rs 1431.30 billion. The trade deficit increased by 24.94 per cent compared to the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Statistics from the department show that mostly fuels were imported during this period. The first, second and third imported items are diesel, petrol and cooking gas, respectively. Diesel import has reached more than Rs 123.70 billion as of mid-May.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;More than Rs 54.83 billion has been spent on importing petrol. Similarly, cooking gas worth more than Rs 52.59 billion has been imported during this period. Iron and steel raw materials constitute the fourth most imported items with imports worth Rs 43.55 billion.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Soybean oil tops the list of Nepal&rsquo;s exported items. Soybean oil worth Rs 45.35 billion was exported during the review period. Refined bleached deodorized palm olein worth Rs 14.78 billion was exported. It is the second-largest exported item. Palm oil is the third-largest export, worth more than 13.97 billion.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2022-05-26',
			'modified' => '2022-05-26',
			'keywords' => '',
			'description' => '',
			'sortorder' => '15080',
			'image' => '20220526014655_Trade.jpg',
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	(int) 11 => array(
		'Article' => array(
			'id' => '15336',
			'article_category_id' => '268',
			'title' => 'India Imposes Ban on Export of Sugar',
			'sub_title' => '',
			'summary' => 'May 26: India has banned export of sugar within days after banning the export of wheat from the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">May 26: India has banned export of sugar within days after banning the export of wheat from the country. This move is certain to cause scarcity of sugar in Nepal and result in price hike as the domestic production of sugar is not sufficient to meet the internal demand. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The annual consumption of sugar in Nepal is around 250,000 metric tons while the domestic production is just 140,000 metric tons. The country has been supplying the insufficient amount of sugar through imports. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of India is said to have banned the export of sugar fearing global food crisis due to the Russia-Ukraine war. India is the second largest exporter of sugar after Brazil. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal has been relying on sugar imported from India, Pakistan and other countries to meet the internal demand for sugar. Pakistan has also imposed a ban on export of sugar. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Stakeholders believe that the latest decision taken by India is certain to cause scarcity of sugar and also increase its price in the domestic market of Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kapil Mani Mainali, chairman of Nepal Sugarcane Producers Association, said that the ban imposed on export of sugar by India will have a profound impact on Nepal. According to Mainali, the annual demand of sugar in Nepal is around 250,000 metric tons. He informed that the Nepal has produced 140,000 metric tons of sugar this year. He claimed that there will be a scarcity of sugar in the near future due to the ban imposed by India.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">As per the latest data of the department of customs, Nepal has imported 89,000 metric tons of sugar so far in the current fiscal year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Officials of the state-owned Salt Trading Corporation, which sells sugar at subsidized rate, say that it has a stock of 32 tons of sugar left. Salt Trading Corporation has been selling sugar in retail amount so that the stock does not run out. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It has been almost one and a half years since the Salt Trading Corporation sought permission from the government to procure 50,000 metric tons of sugar but the proposal has not been approved yet.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Salt Trading Corporation has invited tender bids at both international and domestic levels to purchase 10,000 metric tons of sugar. However, the corporation&rsquo;s spokesperson Kumar Rajbhandari believes that the procurement process will be affected due to the ban imposed by India. He believes that the India&rsquo;s ban will create a shortage of sugar in Nepal and will also cause an increase&nbsp; in price.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The retail price of sugar in the local market is between Rs 90 to Rs 95 per kg at present. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Big businessmen and traders are expected to create an artificial shortage of sugar after India imposed such ban, says Amul Kaji Tuladhar, general secretary of Retail Trade Association. &nbsp;&nbsp;</span></span></p>
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		'Article' => array(
			'id' => '15308',
			'article_category_id' => '268',
			'title' => 'MPs Stress on Establishment of Industries to Substitute Import-Oriented Economy   ',
			'sub_title' => '',
			'summary' => 'May 22: Lawmakers of the ruling parties during the deliberations on the principles and priorities of the Appropriation Bill for the Fiscal Year 2022/23 on Friday argued that the principles and priorities were practical and scientific in nature.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">May 22: Lawmakers of the ruling parties during the deliberations on the principles and priorities of the Appropriation Bill for the Fiscal Year 2022/23 on Friday argued that the principles and priorities were practical and scientific in nature.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, lawmakers of the opposition party blamed that the principles and priorities have no course and aim.&nbsp; Members of Parliament (MPs) stressed the need of taking initiatives for making economy export-oriented, increasing domestic production and increasing export instead of import.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">They said that initiatives should be taken immediately to resolve the current crisis that has emerged due to the declining foreign exchange reserves and rising balance of payments deficit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lawmakers of the opposition party criticized the government for lifting the ban on import goods like dates, betel nuts and black pepper.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">CPN (UML) lawmaker Rajendra Gautam said that the principles and priorities of the Appropriation Bill presented by the government are not matching principally.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Gagan Kumar Thapa of the Nepali Congress drew the attention of the government to establish industries by creating investment-friendly environment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Stating that urbanization and income had increased and so was the scope of employment, he spoke of the need to formulate policies, programme and plans attracting foreign investment and expanding domestic investment within a decade.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He was of the view that workers&#39; participation could be increased and value chain could be grown since the bases of industries such as shoe, textile and garment industries have increased.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, CPN (Maoist Centre)&#39;s parliamentarian Barshaman Pun called for reforms in the policy level and structural level to increase employment and give newness in agriculture sector.&nbsp; The former finance minister also urged to give special priority to reservoir-based hydropower projects and increase investment for energy security.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He opined that the country&rsquo;s foreign exchange reserves have been affected by a large number of Nepali students leaving abroad annually for further studies taking huge chunks of Nepali currency abroad.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Parliamentarians Gopal Bom and Nirudevi Pal expressed their views on theoretical issues of Appropriation Bill and pressed for effective implementation of policy, programmes and plans. -- RSS</span></span></span></p>
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			'created' => '2022-05-22',
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			'sortorder' => '15050',
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			'article_date' => '2022-05-22 11:12:40',
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	(int) 13 => array(
		'Article' => array(
			'id' => '15284',
			'article_category_id' => '268',
			'title' => 'India bans Export of Wheat',
			'sub_title' => '',
			'summary' => 'May 16: India banned the exports of wheat just a day after New Delhi declared a goal of setting a new record for shipment of exports.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 16: India banned the exports of wheat just a day after New Delhi declared a goal of setting a new record for shipment of exports.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Extreme heat in India resulted in the decline in wheat production this year and the prices have skyrpcketed. The Indian government has made it clear that the ban on export will not be applicable for LC opened before May 13. According to Reuters, exports to countries that demand food supplies to meet food security needs will not be stopped.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Importers from around the world turned to India, the world&#39;s second-largest wheat producer, after exports via the Black Sea came to a halt due to Russia&#39;s invasion of Ukraine on February 24. Prior to the ban, India had set a target of exporting 10 million tons of wheat this year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">India is one of the world&#39;s largest wheat exporters. The decision of imposing a ban on exports can push the already tight wheat prices in the international market to new heights and put the poor consumers of Asia and Africa in a difficult position.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">An official of a Mumbai-based multinational trading company said, &ldquo;The ban is shocking. We already expected control on exports a few months back. However, the rates of inflation must have played a vital role in changing the decision of the government.&rdquo; The rising inflation in food and energy prices pushed India&#39;s annual inflation close to 8 percent in April.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Wheat prices in India have reached record highs. In some markets, it has reached IRs 25,000 (Rs 40,000) per ton. The government of India has fixed the minimum support price of wheat at IRs 20,150 per metric ton in the country. Rising prices of fuel, labor, transportation and packaging have raised the price of wheat flour in India.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;&ldquo;It is not just wheat. The price of everything has raised concerns about inflation. This is the reason why the government decided to ban wheat exports. This step is a big caution for us,&rdquo; said a senior government official on condition of anonymity.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Just this week, India said that it would set a record in wheat exports in the current fiscal year which started on April 1. The Indian government had planned to send delegations to Morocco, Tunisia, Indonesia and the Philippines to find ways to increase wheat exports. Last February, the government projected wheat production to exceed 110 million metric tons this year. Later in May, the projection was reduced to 105 million metric tons. According to a New Delhi-based multinational trading company, the heat wave in India in mid-March is expected to limit wheat production to just 100 million metric tons.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The government&rsquo;s procurement has dropped by more than 50 per cent. The supply in the spot market is much less as compared to last year. All of this is indicative of low yields,&rdquo; said the dealer. India exported 7 million metric tons of wheat in March while taking advantage of rising global prices following the Russia-Ukraine war. This record setting export is 250 percent more than the previous year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The rise in wheat prices was moderate and Indian prices are still lower than the world market. In some parts of the country, the price of wheat rose to its current level last year itself, so a ban on exports is a necessary response,&rdquo; Reuters quoted New Delhi-based businessman Rajesh Pahadia Jain as saying,</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Jain said India can export at least 10 million tons of wheat this year, despite a drop in production and procurement by the state-owned Food Corporation of India (FCI). So far, FCI purchased just over 19 million tons of wheat from farmers, which was 43.3 million ton last year. FCI buys food from local farmers to run food welfare programmes for the poor. Unlike in previous years, farmers preferred to sell wheat to private traders this time. Farmers are attracted to them because they pay more than the price fixed by the government. India exported 1.4 million tons of wheat in April and 1.5 million tons in May. Another Indian wheat trader says, &ldquo;India&#39;s ban will push up the price of wheat worldwide. There is no big supplier in the market right now.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '15238',
			'article_category_id' => '268',
			'title' => 'Nepal Exporting Shoes to 17 Countries',
			'sub_title' => '',
			'summary' => 'May 9: Nepal has been exporting shoes manufactured in the country to 17 nations, including India.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 9: Nepal has been exporting shoes manufactured in the country to 17 nations, including India. Nepali shoes, which used to be exported only to India in the past, are now available from the Gulf countries to developed countries like the USA, the UK and Japan.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Domestic shoe manufacturers are excited that the Nepali shoes have entered the international market. They say that the shoes could be&nbsp; exported to more countries that with the help of the government.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nani Raj Ghimire, president of the Shoe Producers Association of Nepal, said that domestic industries are currently producing less shoes than their capacity.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that the footwear export which was limited to India has now reached more than 17 countries, he said that the volume of exports could be increased with the help of the government. &quot;Earlier, we had problems in exporting shoes due to poor quality,&quot; he said.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">If the Nepali shoe industries operate at full capacity, they can produce 160 million pairs of shoes annually. According to the stakeholders, shoe production started to gain momentum in Nepal since 2070 BS. Domestic shoe manufacturer had invested heavily in production before Covid-19. The investment has been affected heavily in the last two years due to the pandemic. According to businessmen, more than Rs 30 billion has been invested in 1,500 industries.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal&#39;s internal demand for footwear is 100 million pairs annually. According to President Ghimire, more than 30 million pairs of shoes have been exported to different countries in recent times. Footwear entrepreneurs said that the volume of export can be increased and the basis for long-term export can be made if government agencies like foreign embassies and consulates help in promotion by setting up separate desks. They complained that there are problems due to unstable interest rates and lack of provision for industrial loans.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">At present, industries are not operating at full capacity. &quot;The footwear industry produces only 35 to 40 per cent of the total capacity,&quot; he said, adding that &quot;It meets 65 per cent of the domestic demand.&quot;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;Currently, more than 50,000 people are directly employed by footwear industries,&quot; Ghimire said. &quot;With the help of the state, it can be increased to 75,000.&quot;</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '21502',
			'article_category_id' => '268',
			'title' => 'Nepal’s Trade Deficit Stands at Rs 1314.44 Billion',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year. According to the Nepal Rastra Bank (NRB), such deficit had decreased 15.2 percent in the corresponding period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report based on eleven month&rsquo;s data unveiled by the NRB on Wednesday mentions that the export-import ratio decreased to 9.6 percent in the review period from 9.7 percent in the corresponding period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">During the review period, merchandise exports decreased 3.0 percent to Rs 139.26 billion compared to a decrease of 22.7 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, exports to India decreased 4.5 percent while that to China increased 57.7 percent. Similarly, export to other countries decreased 1.7 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, bran, tea among others decreased, the NRB report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, merchandise imports decreased 1.8 percent to Rs 1453.70 billion compared to a decrease of 16 percent a year ago. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, imports from India decreased 3.1 percent while that from China increased 34.8 percent. Similarly, import from other countries decreased 3.1 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Imports of transport equipment, vehicle and spare parts, readymade garments, electrical equipment, aircraft spare parts, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on customs points, exports from Bhairahawa, Birgunj, Jaleswor, Krishnanagar, Mechi, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Birgunj, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani Customs Offices increased whereas imports from all the other major customs points decreased in the review period.</span></span></p>
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			'title' => 'Cost of Import of Food Items  Via Birgunj Customs Office Doubles ',
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			'summary' => 'Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 1: Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in the cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Information officer Ramchandra Dhakal, Nepal has imported food items worth NPR 28.91 billion during this period, whereas only NPR 12.18 billion was spent on the import of food items during same period in the previous fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, the import of paddy has taken the lead. Traders have increased the import of paddy after India fixed a quota of 6 lakh tons. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As most of the rice mills in Nepal rely on imported paddy from India, Nepal imported 2,88,000 tons of paddy in nine months through the Birgunj customs point.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This amount has risen significantly from 1,93,000 tons of paddy imported during the same period in the previous fiscal year.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the import of other food items, except paddy, has decreased. Import of rice has fallen to 30,000 tons worth NPR 2.35 billion compared to the previous fiscal year&#39;s import of 37,000 tons worth NPR 2.37 billion. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the import of maize has decreased by 20 percent to 62,658 tons worth NPR 10.61 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The imposition of a quota system by India on wheat export has resulted in an 83 percent decline in wheat import, which has adversely affected the production of domestic industries. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Only 3,472 tons of wheat were imported via the Birgunj customs office during the first nine months of the current fiscal year compared to 20,422 tons during the same period last fiscal year. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Import of other food items such as millet has also decreased.</span></span></p>
',
			'published' => true,
			'created' => '2023-05-01',
			'modified' => '2023-05-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '17454',
			'image' => '20230501072052_collage (6).jpg',
			'article_date' => '2023-05-01 07:18:19',
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	(int) 2 => array(
		'Article' => array(
			'id' => '17429',
			'article_category_id' => '268',
			'title' => 'Rasuwagadhi Border Point Reopens ',
			'sub_title' => '',
			'summary' => 'Rasuwagadhi border point, which was closed following the  breakout of COVID-19 pandemic, has resumed its operation from Saturday. ',
			'content' => '<p><span style="font-size:18px">April 2: Rasuwagadhi border point, which was closed following the&nbsp; breakout of COVID-19 pandemic, has resumed its operation from Saturday.&nbsp;</span></p>

<p><span style="font-size:18px">In the presence of Secretary Madhukumar Marasini at the Ministry of Industry, Commerce and Supplies and Vice President of the Tibet Autonomous Region (TAR)of China Silang Nima, &nbsp;Nepali containers carrying goods made in Nepal left for Kerung via Rasuwagadhi&rsquo;s Miteri Bridge.&nbsp;</span></p>

<p><span style="font-size:18px">As per the recent agreement between Nepal and TAR, the Tatopani crossing will also be operational from May 1. The agreement was reached during a bilateral talks held in Lhasa on March 29.</span></p>

<p><span style="font-size:18px">After holding talks to open the border, a team of government officials including Secretary Marasini and Joint Secretary Jitendra Basnet at the Home Ministry had returned to Rasuwa via Rasuwagadhi border point.&nbsp;</span></p>

<p><span style="font-size:18px">Secretary Marasini informed that other border points with China will also be opened. &ldquo;Tatatopani border point will resume from May 1,&rdquo; said Marasini.&nbsp;</span></p>

<p><span style="font-size:18px">The resumption of Rasuwagadhi border point with China has made traders and businessmen happy and excited in the area, said Nepal Kerung Business Association Founder Chairman Man Bahadur Tamang. A total of 24 trucks loaded with Nepal-made products left for Kerung on Saturday.&nbsp;</span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2023-04-02',
			'modified' => '2023-04-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '17164',
			'image' => '20230402064249_collage (49).jpg',
			'article_date' => '2023-04-02 06:40:17',
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	(int) 3 => array(
		'Article' => array(
			'id' => '17348',
			'article_category_id' => '268',
			'title' => 'Foreign Trade Shrinks Despite Import Ban Lift ',
			'sub_title' => '',
			'summary' => 'Country’s foreign trade has decreased by 20.14 percent in the eight months of the current fiscal year. ',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:18px">March 23: Country&rsquo;s foreign trade has decreased by 20.14 percent in the eight months of the current fiscal year.&nbsp;</span></p>

<p><span style="font-size:18px">Despite the surge of the foreign exchange reserve, lifting of the ban on the import of luxurious goods and removal of 50 and 100 percent cash margin while opening letter of credit(LC), foreign trade has not improved.&nbsp;</span></p>

<p><span style="font-size:18px">Soaring inflation triggered by Russia-Ukraine war and high banking interest rates have badly affected the import and export, causing the international trade to drop compared to the last fiscal year.&nbsp;</span></p>

<p><span style="font-size:18px">In the first eight months of the current fiscal year Nepal&rsquo;s total foreign trade was Rs 1,163 billion compared to Rs 1456.48 billion in the last fiscal year, according to the Department of Customs. </span></p>

<p><span style="font-size:18px">The country&rsquo;s trade deficit has shrunk by 17.86 per cent to Rs 953 billion in the first eight months of the fiscal year compared to last year when the trade gap stood at Rs 1,160 billion.</span></p>

<p><span style="font-size:18px">Statistics released by the Department of Customs on Wednesday show that &nbsp;Nepal imported goods worth over Rs 1,058 billion in the review period, a decrease by 19.13 per cent compared to the imports over the same period last year. The goods were imported from over 158 countries.</span></p>

<p><span style="font-size:18px">Meanwhile, exports from the country stood at Rs 104 billion in the eight months of the current fiscal, down 29.07 per cent compared to the same review period last fiscal year.</span></p>

<p><span style="font-size:18px">In the review period, the imports to exports ratio increased by 14.02 per cent compared to last year in the first eight months of this fiscal year.</span></p>

<p><span style="font-size:18px">Nepal continues to have the highest trade deficit with its neighbours &mdash; India and China.<br />
According to the data, Nepal imported goods worth Rs 656.80 billion from the southern neighbour in the review period, while exports to India amounted to Rs 74 billion.</span></p>

<p><span style="font-size:18px">&nbsp;The trade deficit with India stood at Rs 582 billion in the review period. Meanwhile, the trade deficit with China stood at Rs 145.26 billion in the first eight months of the current fiscal year.</span></p>
',
			'published' => true,
			'created' => '2023-03-23',
			'modified' => '2023-03-23',
			'keywords' => '',
			'description' => '',
			'sortorder' => '17083',
			'image' => '20230323065442_collage (33).jpg',
			'article_date' => '2023-03-23 06:51:55',
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	(int) 4 => array(
		'Article' => array(
			'id' => '17304',
			'article_category_id' => '268',
			'title' => 'Nepal And India Agree To Prepare Modality To Export Electricity to Indian States Via Bihar',
			'sub_title' => '',
			'summary' => 'Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">March 19: Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.&nbsp;&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The 14th meeting of the Nepal-India Power Exchange Committee concluded on March 17 at New Delhi, India, decided to prepare the modality for power export from Nepal to various states in India via Bihar within a month. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The meeting co-chaired by Executive Director of the Nepal Electricity Authority Kulman Ghising and member of Power System member of the Central Electricity Authority of India Ashok Kumar Rajput agreed to finalize the modality within a month for the same. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The agreement has ensured the additional market for the sale of surplus electricity during rainy season&quot;, Executive Director Ghising said.&nbsp; Kataiya (Bihar)-Kushaha (Nepal) and Raxaul-Parawanipur 132-KV transmission line are connected with Bihar.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">As per the Power Exchange Agreement, the meeting has determined new the price of per unit electricity at Rs 11.54 for the fiscal year 2022/23. The new rate is not on a take-or-pay modality. We have to pay the rate, only if we purchase electricity. This rate is cheaper than the current Indian market and we will get the same rate even during export;&rdquo; said Ghising. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">When the NEA made its first-ever effort to buy electricity from India through competitive bidding for long-term power supply in December last year, the Indian companies had proposed to sell power to Nepal at Rs 7.50 and Rs 8.70 per unit for February-March and April-May, respectively.&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The prices they quoted are higher than the rate agreed between Nepal and India during the Power Exchange Committee meeting.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Buying electricity from India&rsquo;s competitive market has been even more expensive. Up to INR 12 per unit has to be paid for the power on which an additional 1.5 Indian rupees is added towards tariff for transmission charges, according to the NEA. &ldquo;Hence, the rate fixed, at present, is cheaper than others,&rdquo; the power utility was quoted as saying in the statement.&nbsp;</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The NEA has been importing electricity from India&rsquo;s Bihar, Uttar Pradesh and Uttarakhand as per the electricity exchange agreement. Only Bihar and Uttar Pradesh are connected to Nepal through 132 KV transmission lines.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal imports electricity from India under three separate agreements. Nepal can import power from India based on the power exchange agreement, Mahakali Treaty and open competition in the Indian power market. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The electricity purchased in the open market is being imported through the 400kV Dhalkebar-Muzaffarpur cross-border double-circuit transmission line. Nepal also sells electricity in the Indian market through this power line.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">&nbsp;</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal Electricity Authority traded surplus electricity worth Rs 8.4 billion to Indian since the beginning of the current fiscal year 2022/23 to till the date.&nbsp; </span></span></span></p>
',
			'published' => true,
			'created' => '2023-03-19',
			'modified' => '2023-03-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '17042',
			'image' => '20230319064131_collage (28).jpg',
			'article_date' => '2023-03-19 06:33:43',
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	(int) 5 => array(
		'Article' => array(
			'id' => '17164',
			'article_category_id' => '268',
			'title' => 'Tea Export Surges By 30 Percent ',
			'sub_title' => '',
			'summary' => 'The export of Nepali tea has increased by 30 percent. The export of Nepali tea has gone up by 29.9 percent in the first seven months of the current fiscal year compared to the same period last fiscal year, according to Trade and Export Promotion Center.',
			'content' => '<p><span style="font-size:18px">March 3: The export of Nepali tea has increased by 30 percent.&nbsp;</span></p>

<p><span style="font-size:18px">The export of Nepali tea has gone up by 29.9 percent in the first seven months of the current fiscal year compared to the same period last fiscal year, according to Trade and Export Promotion Center.</span></p>

<p><span style="font-size:18px">Nepal had exported 7,846 metric tons of the tea worth Rs 2.8 billion in first seven months of&nbsp;the last fiscal year. During the same period in the current fiscal year, total tea export stood at 12,564 metric tons worth Rs 2.71 billion.&nbsp;</span></p>

<p><span style="font-size:18px">Nepali tea is being exported to 166 countries including India, the United States of America, Germany and the United Kingdom. In the export of agricultural products, tea comes only after cardamom.&nbsp;</span></p>

<p><span style="font-size:18px">According to National Tea and Coffee Development Board, Nepal had exported 11,920 metric tons of the tea worth Rs 3.79 billion in the fiscal year 2077/78.</span></p>

<p><span style="font-size:18px">&nbsp;Information Officer Dipak Khanal of the National Tea and Coffee Development Board said that the export quantity had witnessed&nbsp;massive rise&nbsp;as the tea from the last year&#39;s stock&nbsp;was also exported simultaneously.</span></p>

<p><span style="font-size:18px">Saying that quality of Nepali tea was not at par with international standard, India had banned&nbsp;the mixing of Nepali tea with tea from Darjeeling last year.&nbsp;</span></p>

<p><span style="font-size:18px">Nepali tea entrepreneurs had failed to export tea due to the Indian ban last year. As a result, 3,000 metric tons of tea was in stock in Jhapa.&nbsp;</span></p>

<p><span style="font-size:18px">Following the Nepal government&#39;s diplomatic efforts, India had lifted the ban.&nbsp;&nbsp;</span></p>

<p><span style="font-size:18px">Despite the increased demand for Nepali tea this year from different countries, selling of the stock tea was the main reason behind the&nbsp;rise of tea export this fiscal year, Khanal said.&nbsp;</span></p>
',
			'published' => true,
			'created' => '2023-03-03',
			'modified' => '2023-03-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16902',
			'image' => '20230303065340_collage (11).jpg',
			'article_date' => '2023-03-03 06:40:44',
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	(int) 6 => array(
		'Article' => array(
			'id' => '16869',
			'article_category_id' => '268',
			'title' => 'Volume and Price of Imported Apples Decline; Price Yet to Be Cheaper in the Market',
			'sub_title' => '',
			'summary' => 'Nepal has imported apples worth Rs 3.49 billion in the first six months of the current fiscal year. From the import of apples worth Rs 3.49 billion, the government has collected a revenue of Rs 400 million during the review period.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">January 29: Nepal has imported apples worth Rs 3.49 billion in the first six months of the current fiscal year.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">From the import of apples worth Rs 3.49 billion, the government has collected a revenue of Rs 400 million during the review period.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The country imported 4,62,97,052 kilograms of apples. This shows that price of per kg apples was Rs 75 on average.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">As many as 4,89,99,989 kilograms of apples worth Rs 3.82 billion were imported during the same period last fiscal year. The average price of the apples was Rs 78 per kg then.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Compared to the last fiscal, import of the apples along with its price has declined. Apple import has declined by eight per cent while the price has fallen by Rs 3 per kg in the current fiscal compared to the last fiscal.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Customers , however, have not felt relieved as the price has yet to come down in the domestic market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Entrepreneur Amar Baniya from Kuleswor fruit market said that rise of domestic production of the apples had led to import fall. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Baniya says that import of other fruits had fallen, in addition to apples.&nbsp;&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Nepal imports apples from India, China and the Untied States of America. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A total of 2,92,53,638 kilograms of apples worth Rs 1.92 billion were imported from India. Likewise, country brought in 1,70,22,834 kilograms of apples worth Rs 1.57 billion from China, while import of apples from the Unites States was 20,580 kilograms&nbsp;worth Rs 5 million in the first six months of the current fiscal.&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2023-01-29',
			'modified' => '2023-01-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16608',
			'image' => '20230129060621_collage (38).jpg',
			'article_date' => '2023-01-29 05:56:14',
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	(int) 7 => array(
		'Article' => array(
			'id' => '16681',
			'article_category_id' => '268',
			'title' => 'Potato Import Plummets by 30,400 Metric Tons ',
			'sub_title' => '',
			'summary' => 'Import of potato, a staple vegetable in Nepali kitchen, has decreased by 30,400 metric tons. In the current fiscal year, the country imported potatoes worth Rs 723 million less than last year.',
			'content' => '<p><br />
<span style="font-size:16px">January 8: Import of potato, a staple vegetable in Nepali kitchen, has decreased by 30,400 metric tons.&nbsp;In the current fiscal year, the country imported potatoes worth Rs 723 million less than last year.</span></p>

<p><span style="font-size:16px">According to the data at the Department of Customs, import of potatoes slumped in the first five months of the current fiscal year compared to the same period last year.</span></p>

<p><span style="font-size:16px">In the last few years, domestic potato production has risen, causing the import to slump.&nbsp;<br />
According to the data at the department, Nepal had imported 218,305 metric tons of potatoes worth 5.52 billion rupees from different countries in the first five months of fiscal year 2078/2079.&nbsp;</span></p>

<p><span style="font-size:16px">As many as 187,858 metric tons of potatoes worth Rs 4.80 billion were imported during the same period in the current fiscal year.Statistics at the department show that potato import has been falling continuously in the recent&nbsp;years in Nepal.&nbsp;</span></p>

<p><span style="font-size:16px">&nbsp;In the fiscal year 2076/77, 341,914 tons of potatoes worth Rs 8.77 billion were imported, while 339,622 tons of potato worth Rs 8.49 billion were imported in the fiscal year of 2077/78.</span></p>

<p><span style="font-size:16px">Basudev Kafle, Head of &nbsp;National Center for Potato, Vegetable and Spice Crops Development attributed rise in the domestic potation &nbsp;production to the drop in the potato import.&nbsp;</span></p>

<p><span style="font-size:16px">According to Kafle, &nbsp;166 pocket areas have been established for potato farming and 200 farmers&rsquo; groups have been involved under the Prime Minister Agriculture Modernization Programme across the country.</span></p>

<p><span style="font-size:16px">With involvement of farmers, food potato and seed potato promotion programmes have been implemented.&nbsp;<br />
As a result, farmers have received quality seed, contributing to the rise of potato production.</span></p>

<p><span style="font-size:16px">In the current fiscal year, a budget of Rs 147.8 million has been allocated to 97 local levels for food potato promotion and Rs 33.34 million to 22 local levels for seed potato promotion program.</span></p>

<p><span style="font-size:16px">Data at the center shows that the annual production of potatoes is increasing in recent years.&nbsp;<br />
In the fiscal year 2075/76, potato was cultivated in 193,200 hectares of land in Nepal. Country had produced 28,51,800 metric tons in the fiscal year. &nbsp;</span></p>

<p><span style="font-size:16px">In the fiscal year 2076/77, potato was grown in 195,100 hectares of the land. &nbsp;The potato production increased &nbsp;to 31,12,900 metric tons of potatoes. Similarly, in the fiscal year 2077/78, as many as &nbsp;3,325,000 metric &nbsp;tons of potatoes were produced in&nbsp;198,000 hectares of land.</span></p>

<p><span style="font-size:16px">Domestic potato production meets around 90 percent of total potato demand in the country. &nbsp;However, experts say that large quantities of potatoes are imported for industrial raw materials.&nbsp;</span></p>

<p><span style="font-size:16px">National center for Potato, Vegetable and Spice Crop Development Nigale&rsquo;s Head Bijaya Kumar Giri says that import of 10 percent potato is enough to meet demand for consumption.&nbsp;</span></p>

<p><span style="font-size:16px">&ldquo;Potatoes are being imported in large quantities for chips, French fries and other products,&rdquo;, added Giri.&nbsp;<br />
Until a few years ago, low-yielding potato seeds, such as, Cardinal, Kufri Sinduri, Kufri Jyoti would be distributed to the farmers.&nbsp;</span></p>

<p><span style="font-size:16px">However, varieties of high-yielding seeds, such as, Janakdev, Khumal Lakshmi, Khumal Vikas are provided to the farmers for potation cultivation&nbsp; these days, leading the potato production to rise. These seeds are less vulnerable to disease and pests, which also supports the growth of potato produce.&nbsp;&nbsp;</span></p>
',
			'published' => true,
			'created' => '2023-01-08',
			'modified' => '2023-01-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '16422',
			'image' => '20230108065429_collage (23).jpg',
			'article_date' => '2023-01-08 06:47:54',
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	(int) 8 => array(
		'Article' => array(
			'id' => '16604',
			'article_category_id' => '268',
			'title' => 'Import and Consumption of Aviation Fuel Shrink ',
			'sub_title' => '',
			'summary' => 'Import and consumption of aviation fuel have decreased in the last five months of the current fiscal year in Nepal.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:20px">December 26: Import and consumption of aviation fuel have decreased in the last five months of the current fiscal year in Nepal.</span></p>

<p><span style="font-size:20px">According to the data at the Department of the Customs, Nepal has imported 74, 221 kilolitres of aviation fuel worth Rs 9.20 billion in the five months of the current fiscal year.&nbsp; In the same period last year, Nepal imported 80,744 kilolitres of jet fuel worth Rs 4.18 billion.</span></p>

<p><span style="font-size:20px">Experts in the aviation industry say that since international airlines do not refuel in Nepal, consumption of the aviation fuel has decreased along with its import. However, spokesperson Binitmani Upadhayya at the Nepal Oil Corporation claimed that sales of aviation fuel had dropped due to the fall in international flights post-COVID situation.&nbsp;</span></p>

<p><span style="font-size:20px">&ldquo;Sales of aviation fuel stood at 607 kilolitres a day before 2076 BS. Fuel consumption is around 500 kilolitres at the moment&rdquo;, Upadhaya said adding &ldquo;Aviation fuel sale will get back to the pre-COVID level slowly&rdquo;.&nbsp;</span><br />
&nbsp;</p>

<p><span style="font-size:20px">Despite the fall in the consumption of aviation fuel, international flights to and from Nepal have, however, increased compared to the last year. Likewise, the number of domestic flights has not gone down as well. &nbsp;</span></p>

<p><span style="font-size:20px">Tribhuvan International Airport&rsquo;s spokesperson Teknath Sitaula said number of flights had remained unchanged in the last five months. Nepali airports conduct 35 international flights daily on average these days.</span></p>

<p><span style="font-size:20px">Normally, international airlines refuel in Nepal when the price is equal to the international market. Even though the price of fuels, including aviation fuel, has declined in the international market, Nepal Oil Corporation (NOC) has not adjusted the price of aviation fuel to cover the losses. Aviation experts say that international airlines refuel at transit not in Nepal owing to high prices.&nbsp;</span></p>

<p><span style="font-size:20px">Board of Directors of the Nepal Oil Corporation fixes the prices of aviation fuel and LP gas. However, price of aviation fuel has not been adjusted because the NOC Board of Directors has not held the meeting for a long time, according to Upadhyay.</span></p>

<p><span style="font-size:20px">According to NOC, the current price of aviation fuel in Nepal is USD 1.645 per litre. &nbsp;Nepal Rastra Bank has set the selling rate of USD 1 to NRP 132.88.&nbsp;</span></p>

<p><span style="font-size:20px">Failure to adjust the price of international aviation fuel has&nbsp; reduced consumption, decreasing&nbsp;the profit of the NOC. The more aviation fuel NOC sells, the more profit it makes.&nbsp;</span></p>

<p><span style="font-size:20px">Since NOC makes income in the US Dollar from the sale of aviation fuel to international airlines, it will not reduce the country&rsquo;s foreign currency reserve, say knowledgeable people.&nbsp;</span></p>

<p><span style="font-size:20px">&nbsp;&nbsp; &nbsp;</span></p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '15349',
			'article_category_id' => '268',
			'title' => 'Exporters Demand Export Credit Insurance Facility ',
			'sub_title' => '',
			'summary' => 'May 27: Export Credit Insurance (ECI) to cover the risk of non-payment of goods exported abroad is not yet available in Nepal.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 27: Export Credit Insurance (ECI) to cover the risk of non-payment of goods exported abroad is not yet available in Nepal. Many countries around the world have introduced export credit insurance targeting non-payment risks in exports.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Lately, the export of goods from Nepal has been increasing. With the increase in size of the exports, the problem of non-payment is also increasing. This has discouraged exporters. However, it seems that the concerned bodies have not paid enough attention to introduce export credit insurance to cover such risks.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Exporters have been demanding the government to bring such insurance facilities since the last 2/3 years. But they say that the government has ignored this issue. The Insurance Board, the regulatory body of the insurance sector, says it is ready to approve any such products if the insurance companies announce them.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Ashok Kumar Agrawal, general secretary of the Nepali Readymade Garment Industry Association, says that credit export insurance should be introduced. &quot;Lately, the risk of non-payment has been increasing along with Nepal&#39;s exports,&quot; he said, &quot;In this case, we want to insure ourselves by paying the required fee. However, we have not been able to get that facility. The government needs to pay attention to this immediately.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Export credit insurance has come into practice in many countries of the world. In case of non-payment of the exported item, up to 95% of the export value can be obtained from the insurance companies. However, Nepali exporters have not yet been able to get such facility.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal should increase its exports at any cost to reduce the trade deficit. For that, exporters say that they need motivation, which is possible through such insurance facility.&nbsp;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Agrawal said his industry had exported its products to the United States a few years ago, but the buyers did not pay. &quot;I then filed a lawsuit in a US court,&quot; he said, &quot;The court asked whether there is export credit insurance or not.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He says that the need and importance of such insurance has been increasing in recent days. &quot;The government should be positive about this issue,&quot; he said.&nbsp; </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A few days ago, a special team from Germany came to Kathmandu and informed the insurance board and the companies about such insurance through a presentation. After that, a debate has started on the issue of bringing such a product in the insurance sector. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Executive Director of the Insurance Board Raju Raman Poudel said that the board is positive in this regard.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;So far, no such insurance product has been introduced in Nepal. The insurance companies have to take the initiative. If they bring such product, we are ready to approve it,&quot; he said.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Insurance companies, on the other hand, say that even if such insurance is introduced, it will be a challenge to implement it. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">CEO of NLG Insurance Suresh Ballav Pant argues that it is challenging to implement such product. &quot;First, the insurance company should know all the credit of the customers. Moreover, the foreigners are the customers during export,&quot; he said, &quot;We&#39;ll need&nbsp; information such as loan payment to the bank by the customers while importing other goods, and business transactions which is difficult to get. So it is quite challenging.&quot;&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '15338',
			'article_category_id' => '268',
			'title' => 'Nepal’s Import Declines by Rs 20 Billion',
			'sub_title' => '',
			'summary' => 'May 26: Amid growing concerns over rising imports and the consequent pressure on foreign exchange reserves, the Department of Customs on Tuesday released promising data.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 26: Amid growing concerns over rising imports and the consequent pressure on foreign exchange reserves, the Department of Customs on Tuesday released promising data.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;According to the country&rsquo;s foreign trade data in the first ten months of the current fiscal year (mid-July-mid-May) released by the department on Tuesday, goods worth Rs 137 billion were imported from abroad in the month of Baishakh (mid-April to mid-May), which is less than the imports in the previous month (mid-March to mid-April) by Rs 20 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The imports of Nepal had reached an all-time high of Rs 188 billion in the month of Mangsir (mid-November to mid-December) last year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The impact of the government&#39;s policy to curb imports of luxury goods has been felt in May. The central bank had been taking various steps to control imports since December. In the first week of December, NRB had introduced a provision for keeping a 50 to 100 per cent cash margin while opening LC for the import of some items.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Later, NRB called the chief executive officers of all commercial banks on April 7 and verbally instructed them not to open LCs for the import of luxury goods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">On April 29, the Ministry of Industry, Commerce and Supplies published a notice in the Nepal Gazette and banned the import of 10 types of goods including vehicles, till the end of the current fiscal year (mid-July).</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;According to the department, goods worth Rs 1646.50 billion have been imported till mid-May against goods worth Rs 1,254.11 billion in the corresponding period of the previous fiscal year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Imports in the current fiscal year has increased by 27.95 percent compared to last fiscal year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, Nepal&rsquo;s exports increased by 59.80 per cent to Rs 173.34 billion during the review period. Although the growth rate of exports is high, it has not been able to play a significant role in reducing the trade deficit. As a result, the trade deficit has increased to over Rs 1431.30 billion. The trade deficit increased by 24.94 per cent compared to the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Statistics from the department show that mostly fuels were imported during this period. The first, second and third imported items are diesel, petrol and cooking gas, respectively. Diesel import has reached more than Rs 123.70 billion as of mid-May.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;More than Rs 54.83 billion has been spent on importing petrol. Similarly, cooking gas worth more than Rs 52.59 billion has been imported during this period. Iron and steel raw materials constitute the fourth most imported items with imports worth Rs 43.55 billion.&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Soybean oil tops the list of Nepal&rsquo;s exported items. Soybean oil worth Rs 45.35 billion was exported during the review period. Refined bleached deodorized palm olein worth Rs 14.78 billion was exported. It is the second-largest exported item. Palm oil is the third-largest export, worth more than 13.97 billion.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '15336',
			'article_category_id' => '268',
			'title' => 'India Imposes Ban on Export of Sugar',
			'sub_title' => '',
			'summary' => 'May 26: India has banned export of sugar within days after banning the export of wheat from the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">May 26: India has banned export of sugar within days after banning the export of wheat from the country. This move is certain to cause scarcity of sugar in Nepal and result in price hike as the domestic production of sugar is not sufficient to meet the internal demand. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The annual consumption of sugar in Nepal is around 250,000 metric tons while the domestic production is just 140,000 metric tons. The country has been supplying the insufficient amount of sugar through imports. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Government of India is said to have banned the export of sugar fearing global food crisis due to the Russia-Ukraine war. India is the second largest exporter of sugar after Brazil. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Nepal has been relying on sugar imported from India, Pakistan and other countries to meet the internal demand for sugar. Pakistan has also imposed a ban on export of sugar. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Stakeholders believe that the latest decision taken by India is certain to cause scarcity of sugar and also increase its price in the domestic market of Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kapil Mani Mainali, chairman of Nepal Sugarcane Producers Association, said that the ban imposed on export of sugar by India will have a profound impact on Nepal. According to Mainali, the annual demand of sugar in Nepal is around 250,000 metric tons. He informed that the Nepal has produced 140,000 metric tons of sugar this year. He claimed that there will be a scarcity of sugar in the near future due to the ban imposed by India.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">As per the latest data of the department of customs, Nepal has imported 89,000 metric tons of sugar so far in the current fiscal year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Officials of the state-owned Salt Trading Corporation, which sells sugar at subsidized rate, say that it has a stock of 32 tons of sugar left. Salt Trading Corporation has been selling sugar in retail amount so that the stock does not run out. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It has been almost one and a half years since the Salt Trading Corporation sought permission from the government to procure 50,000 metric tons of sugar but the proposal has not been approved yet.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Salt Trading Corporation has invited tender bids at both international and domestic levels to purchase 10,000 metric tons of sugar. However, the corporation&rsquo;s spokesperson Kumar Rajbhandari believes that the procurement process will be affected due to the ban imposed by India. He believes that the India&rsquo;s ban will create a shortage of sugar in Nepal and will also cause an increase&nbsp; in price.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The retail price of sugar in the local market is between Rs 90 to Rs 95 per kg at present. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Big businessmen and traders are expected to create an artificial shortage of sugar after India imposed such ban, says Amul Kaji Tuladhar, general secretary of Retail Trade Association. &nbsp;&nbsp;</span></span></p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '15308',
			'article_category_id' => '268',
			'title' => 'MPs Stress on Establishment of Industries to Substitute Import-Oriented Economy   ',
			'sub_title' => '',
			'summary' => 'May 22: Lawmakers of the ruling parties during the deliberations on the principles and priorities of the Appropriation Bill for the Fiscal Year 2022/23 on Friday argued that the principles and priorities were practical and scientific in nature.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">May 22: Lawmakers of the ruling parties during the deliberations on the principles and priorities of the Appropriation Bill for the Fiscal Year 2022/23 on Friday argued that the principles and priorities were practical and scientific in nature.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">However, lawmakers of the opposition party blamed that the principles and priorities have no course and aim.&nbsp; Members of Parliament (MPs) stressed the need of taking initiatives for making economy export-oriented, increasing domestic production and increasing export instead of import.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">They said that initiatives should be taken immediately to resolve the current crisis that has emerged due to the declining foreign exchange reserves and rising balance of payments deficit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lawmakers of the opposition party criticized the government for lifting the ban on import goods like dates, betel nuts and black pepper.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">CPN (UML) lawmaker Rajendra Gautam said that the principles and priorities of the Appropriation Bill presented by the government are not matching principally.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Gagan Kumar Thapa of the Nepali Congress drew the attention of the government to establish industries by creating investment-friendly environment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Stating that urbanization and income had increased and so was the scope of employment, he spoke of the need to formulate policies, programme and plans attracting foreign investment and expanding domestic investment within a decade.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He was of the view that workers&#39; participation could be increased and value chain could be grown since the bases of industries such as shoe, textile and garment industries have increased.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, CPN (Maoist Centre)&#39;s parliamentarian Barshaman Pun called for reforms in the policy level and structural level to increase employment and give newness in agriculture sector.&nbsp; The former finance minister also urged to give special priority to reservoir-based hydropower projects and increase investment for energy security.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He opined that the country&rsquo;s foreign exchange reserves have been affected by a large number of Nepali students leaving abroad annually for further studies taking huge chunks of Nepali currency abroad.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Parliamentarians Gopal Bom and Nirudevi Pal expressed their views on theoretical issues of Appropriation Bill and pressed for effective implementation of policy, programmes and plans. -- RSS</span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '15284',
			'article_category_id' => '268',
			'title' => 'India bans Export of Wheat',
			'sub_title' => '',
			'summary' => 'May 16: India banned the exports of wheat just a day after New Delhi declared a goal of setting a new record for shipment of exports.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 16: India banned the exports of wheat just a day after New Delhi declared a goal of setting a new record for shipment of exports.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Extreme heat in India resulted in the decline in wheat production this year and the prices have skyrpcketed. The Indian government has made it clear that the ban on export will not be applicable for LC opened before May 13. According to Reuters, exports to countries that demand food supplies to meet food security needs will not be stopped.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Importers from around the world turned to India, the world&#39;s second-largest wheat producer, after exports via the Black Sea came to a halt due to Russia&#39;s invasion of Ukraine on February 24. Prior to the ban, India had set a target of exporting 10 million tons of wheat this year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">India is one of the world&#39;s largest wheat exporters. The decision of imposing a ban on exports can push the already tight wheat prices in the international market to new heights and put the poor consumers of Asia and Africa in a difficult position.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">An official of a Mumbai-based multinational trading company said, &ldquo;The ban is shocking. We already expected control on exports a few months back. However, the rates of inflation must have played a vital role in changing the decision of the government.&rdquo; The rising inflation in food and energy prices pushed India&#39;s annual inflation close to 8 percent in April.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Wheat prices in India have reached record highs. In some markets, it has reached IRs 25,000 (Rs 40,000) per ton. The government of India has fixed the minimum support price of wheat at IRs 20,150 per metric ton in the country. Rising prices of fuel, labor, transportation and packaging have raised the price of wheat flour in India.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;&ldquo;It is not just wheat. The price of everything has raised concerns about inflation. This is the reason why the government decided to ban wheat exports. This step is a big caution for us,&rdquo; said a senior government official on condition of anonymity.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Just this week, India said that it would set a record in wheat exports in the current fiscal year which started on April 1. The Indian government had planned to send delegations to Morocco, Tunisia, Indonesia and the Philippines to find ways to increase wheat exports. Last February, the government projected wheat production to exceed 110 million metric tons this year. Later in May, the projection was reduced to 105 million metric tons. According to a New Delhi-based multinational trading company, the heat wave in India in mid-March is expected to limit wheat production to just 100 million metric tons.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The government&rsquo;s procurement has dropped by more than 50 per cent. The supply in the spot market is much less as compared to last year. All of this is indicative of low yields,&rdquo; said the dealer. India exported 7 million metric tons of wheat in March while taking advantage of rising global prices following the Russia-Ukraine war. This record setting export is 250 percent more than the previous year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;The rise in wheat prices was moderate and Indian prices are still lower than the world market. In some parts of the country, the price of wheat rose to its current level last year itself, so a ban on exports is a necessary response,&rdquo; Reuters quoted New Delhi-based businessman Rajesh Pahadia Jain as saying,</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Jain said India can export at least 10 million tons of wheat this year, despite a drop in production and procurement by the state-owned Food Corporation of India (FCI). So far, FCI purchased just over 19 million tons of wheat from farmers, which was 43.3 million ton last year. FCI buys food from local farmers to run food welfare programmes for the poor. Unlike in previous years, farmers preferred to sell wheat to private traders this time. Farmers are attracted to them because they pay more than the price fixed by the government. India exported 1.4 million tons of wheat in April and 1.5 million tons in May. Another Indian wheat trader says, &ldquo;India&#39;s ban will push up the price of wheat worldwide. There is no big supplier in the market right now.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Nepal Exporting Shoes to 17 Countries',
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			'summary' => 'May 9: Nepal has been exporting shoes manufactured in the country to 17 nations, including India.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">May 9: Nepal has been exporting shoes manufactured in the country to 17 nations, including India. Nepali shoes, which used to be exported only to India in the past, are now available from the Gulf countries to developed countries like the USA, the UK and Japan.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Domestic shoe manufacturers are excited that the Nepali shoes have entered the international market. They say that the shoes could be&nbsp; exported to more countries that with the help of the government.&nbsp;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nani Raj Ghimire, president of the Shoe Producers Association of Nepal, said that domestic industries are currently producing less shoes than their capacity.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that the footwear export which was limited to India has now reached more than 17 countries, he said that the volume of exports could be increased with the help of the government. &quot;Earlier, we had problems in exporting shoes due to poor quality,&quot; he said.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">If the Nepali shoe industries operate at full capacity, they can produce 160 million pairs of shoes annually. According to the stakeholders, shoe production started to gain momentum in Nepal since 2070 BS. Domestic shoe manufacturer had invested heavily in production before Covid-19. The investment has been affected heavily in the last two years due to the pandemic. According to businessmen, more than Rs 30 billion has been invested in 1,500 industries.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal&#39;s internal demand for footwear is 100 million pairs annually. According to President Ghimire, more than 30 million pairs of shoes have been exported to different countries in recent times. Footwear entrepreneurs said that the volume of export can be increased and the basis for long-term export can be made if government agencies like foreign embassies and consulates help in promotion by setting up separate desks. They complained that there are problems due to unstable interest rates and lack of provision for industrial loans.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">At present, industries are not operating at full capacity. &quot;The footwear industry produces only 35 to 40 per cent of the total capacity,&quot; he said, adding that &quot;It meets 65 per cent of the domestic demand.&quot;</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;Currently, more than 50,000 people are directly employed by footwear industries,&quot; Ghimire said. &quot;With the help of the state, it can be increased to 75,000.&quot;</span></span></p>

<p>&nbsp;</p>
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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