anuary 15: Galli Maps won the NYEF Startup Awards during the grand finale held on January 12.…
anuary 15: Galli Maps won the NYEF Startup Awards during the grand finale held on January 12.…
January 15: The authorities concerned are struggling to complete various sections of highways being built with the support from the Asian Development Bank (ADB) even within the extended…
January 15: The much-awaited water distribution from Melamchi resumed in Kathmandu Valley from today.…
January 15: The Civil Aviation Authority of Nepal (CAAN) has decided to manage four international airports on a public-private-partnership (PPP)…
January 15: Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to release the payment for the dues that the government owes to the…
January 15: Eastern and central parts of Nepal will likely receive rainfall and snow today due to the impact of the westerly wind.…
Maghe Sankranti or Makar Sankranti is being celebrated throughout the country today. It is observed by taking holy dips in rivers and ponds, worshiping at various temples and savoring delicacies like ghee, yam, khichadi and sweets like Chaku and sweets made of sesame and…
January 14: The World Bank in coordination with the Ministry of Finance held a two-day learning event last week on “Managing Risks and Sustainable…
The Nepal Stock Exchange (NEPSE) displayed remarkable growth, surging by 31.62 points or 1.51%, ultimately closing at 2120.62 on the first trading day of the week on…
January 14: Nepal Electricity Authority (NEA) is preparing to sell its ordinary shares by issuing Initial Public Offerings (IPO) worth Rs 60…
January 14: The government has failed to manage problematic…
January 14: The number of air passengers has increased at the Tribhuvan International Airport.…
January 14: The Nepal-India Inter-Governmental Sub-Committee (IGSC) meeting on Trade, Transit and Cooperation to Control Unauthorised Trade concluded in Kathmandu with commitment to explore avenues for strengthening connectivity between the two…
January 14: A private company has been selected to operate and manage the Nepalgunj Integrated Checkpoint (ICP), which is in the final stages of construction.…
January 14: Three weeks after disconnecting electricity supply to 24 industries for non-payment of electricity dues for dedicated feeder and trunk lines, the Nepal Electricity Authority has reconnected the supply…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">January 15: Galli Maps won the NYEF Startup Awards during the grand finale held on January 12. The organisers said that the Galli Maps was awarded with a cash prize of Rs 400,000 for creating the most detailed map of Nepal with information of house numbers, alley and 360 degree view.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">“Our maps help business enterprises deliver their products/services at their customers' doorstep easily and accurately,” said Raj Bikram Maharjan, proprietor of Galli Express Pvt Ltd which developed the map. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">According to the organisers, there was a tie for the first runner-up position as Quickfox Consulting and PetMama Nepal shared the honours. They also shared the cash prize of Rs 200,000. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Quickfox Consulting was awarded for its advanced RPA solution that streamlines tedious, rule-based tasks for companies. According to the organisers, this solution enhances efficiency, elevates productivity, and sets higher customer service standards by eliminating manual errors and time-consuming processes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Similarly, PetMama Nepal was awarded for its one-stop pet care solution offering grooming and retail services along with a pet hotel, a pet bakery, and a dog day care service. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The top three winners were selected from among the seven finalists who pitched their ideas in front of a panel of expert judges including Sewa Pathak, CEO of Vianet Communications, Niranjan Shrestha, executive director of Laxmi Group, and Ajit Shah, CEO of Lotus Holdings. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The audience was also involved, as they got to vote for their favorites for the audience choice award. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">PetMama Nepal also bagged the Audience Choice Award, a testament to the startup that resonated most with the audience. They received a Rs 50,000 in cash prize.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Similarly, the Social Enterprise Award with a cash prize of Rs 50,000, was presented to Dursikshya Education, spearheaded by Krishna Pandey. Dursikshya is an innovative educational organization committed to advancing STEM education.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The winners were selected on the basis of their resilience, creativity, and commitment to positive change for the entrepreneurial community in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The startup award was sponsored by Sagarmatha Lumbini Insurance, NMB Bank, FNCCI, Apex College, Adex and NPEA.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19717', 'image' => '20240115034156_galli.jpg', 'article_date' => '2024-01-15 15:40:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19989', 'article_category_id' => '1', 'title' => 'Projects under ADB Loan Assistance Struggling to Meet Deadline', 'sub_title' => '', 'summary' => 'January 15: The authorities concerned are struggling to complete various sections of highways being built with the support from the Asian Development Bank (ADB) even within the extended deadline.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 15: The authorities concerned are struggling to complete various sections of highways being built with the support from the Asian Development Bank (ADB) even within the extended deadline.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Narayangadh-Butwal section of the East-West Highway, Muglin-Pokhara road section and Kanchanpur-Kamala road section are being constructed with loans from the ADB.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ADB project directorate under the Department of Roads has extended the deadline for the Narayangadh-Butwal and Kanchanpur-Kamala roads. The work of these two sections under the East-West Highway is not even half completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Chinese contractor company has expressed commitment to complete the work of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">113</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km Narayangadh-Butwal section within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months. However, despite extending the deadline twice, only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers have been blacktopped so far, while the construction of the service lanes, bridges, drains, and sub-bases is underway.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The agreement for construction of Narayangadh-Butwal road section was signed between the DoR and the Chinese company M/S China State Construction Engineering Corporation Pvt Ltd on December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2018. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the road should have been completed on August </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the project remains incomplete and the government has extended the deadline twice saying that the work was interrupted due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The deadline for upgrading the road has been extended till July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> considering the impact of coronavirus and the problems in removal of electricity poles and availability of construction materials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the latest deadline extension, there is still about seven months left for the project to compete the works related to upgrading this road section. However, project director Chudaraj Dhakal informed that the contractor company has requested for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to complete the work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the deadline of Kanchanpur-Kamala road section has also been extended due to the delay in completion of the work. The DoR had handed over the contract to M/M China Railway No </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Engineering Group on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> with an agreement to complete the project within three years from the date of signing the agreement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the work was not completed on time, the deadline was extended until December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers of this road section measuring </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">86.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers has been blacktopped. The road is supposed to be expanded into four lanes but only two lanes have been blacktopped. The extended deadline of the project will expire in about one year while the work progress is only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">41.47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the deadline for upgrading the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers long Mugling-Pokhara road section with loan assistance of ADB has not been extended.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The DoR had signed a contract agreement with a Chinese company M/S China Communication Construction Company Limited on April </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for this project</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Project Director Dhakal said that the work of this section should be completed by April </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2025</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, as per the agreement</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The deadline has not been extended in this section," Dhakal said, "However, the construction company issued a warning for slow work progress. After the department warned of terminating the contract, the contractor made a commitment with a schedule to complete all the work by December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2025</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The project directorate informed that it is yet to decide on whether or not to extend the deadline. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last Thursday, the project directorate held a press conference to inform about the progress of these roads. On the occasion, Keshav Kumar Sharma, secretary at the Ministry of Physical Infrastructure and Transport, explained the reason for the delay, arguing that Chinese construction workers could not arrive in Nepal due to lockdown in the wake of the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Apart from this, there was a problem with removal of trees and electricity poles. Also, there was no significant support from the local level,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19716', 'image' => '20240115015219_20220926014301_road.jpg', 'article_date' => '2024-01-15 13:51:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19988', 'article_category_id' => '1', 'title' => 'Water Supply from Melamchi Resumes', 'sub_title' => '', 'summary' => 'January 15: The much-awaited water distribution from Melamchi resumed in Kathmandu Valley from today. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: The much-awaited water distribution from Melamchi resumed in Kathmandu Valley from today. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal inaugurated the Melamchi water supply diversion and redistribution from the premises of the Prime Minister's Office at Singha Durbar on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Drinking Water, Suresh Acharya, said that water would be gradually distributed in Anamnagar, Minbhawan, Mahankalchaur, Rigni, Bhaktapur, Khumaltar, Balaju and Bansbari areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal had directed Minister for Drinking Water Mahendra Ray Yadav to make arrangements to bring Melamchi water to the capital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the directive of the prime minister, the Ministry of Drinking Water took the initiative to bring water by repairing the Melamchi Water Supply Project. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Water supply from Melamchi, which was disrupted due to floods and landslides, has now resumed in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Melamchi Water Supply Development Committee and construction company, Sino Hydro, had reached an agreement on December 19 to bring water from Melamchi to Kathmandu within 28 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Around 170 million litres of water is being brought to Kathmandu daily from Melamchi. The source area of the project was damaged after a flood and landslide occurred in Melamchi rivulet on June 15, 2021. Since then, the project has not been able to supply water from Melamchi on a regular basis in Kathmandu. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19715', 'image' => '20240115011423_RS_KTM_RATL67711.jpg', 'article_date' => '2024-01-15 13:08:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19987', 'article_category_id' => '1', 'title' => 'CAAN Proposes Managing Four International Airports under Public-Private Partnership Model', 'sub_title' => '', 'summary' => 'January 15: The Civil Aviation Authority of Nepal (CAAN) has decided to manage four international airports on a public-private-partnership (PPP) model.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 15: The Civil Aviation Authority of Nepal (CAAN) has decided to manage four international airports on a public-private-partnership (PPP) model.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">A meeting of the board of directors of the aviation sector regulator decided to operate and expand the three existing international airports and the proposed Nijgadh International Airport under this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">CAAN Spokesperson Jagannath Niraula informed New Business Age that the proposal in this regard has been sent to the Ministry of Culture, Tourism and Civil Aviation for further discussion and necessary action regarding the operation and expansion of Tribhuvan International Airport (TIA), Gautam Buddha International Airport (GBIA) and Pokhara Regional International Airport (PRIA) and the construction of the proposed Nijgadh International Airport.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">While unveiling the progress report after completing one year in office on December 26, Prime Minister Pushpa Kamal Dahal had announced that the government was planning to operate the international airports on the same concept. Now, the CAAN has taken concrete steps to seek partners for the operation and management of the airports under this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Tribhuvan International Airport is the first international airport of the country. Gautam Buddha International Airport was inaugurated on May 16, 2022 while the Pokhara Regional International Airport came into operation from January 1, 2023.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although there are three international airports in the country, only the TIA is fully operational while the other two are under-utilized due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As the GBIA and PRIA are still not fully operational even after one and a half years of operation, the government is planning to operate all the international airports under the PPP concept through a single package. The CAAN is hopeful that if Tribhuvan International Airport, which makes the highest income, is also included in the package, it will be able to bring in a partner for the management of the airports.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19714', 'image' => '20240115122424_1705292745.1703995104.1684223440.Airport 1.jpg', 'article_date' => '2024-01-15 12:23:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19986', 'article_category_id' => '1', 'title' => 'Prime Minister Dahal Instructs Immediate Release of Due Amount to the Contractors', 'sub_title' => '', 'summary' => 'January 15: Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to release the payment for the dues that the government owes to the contractors.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to release the payment for the dues that the government owes to the contractors.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During a discussion with the construction entrepreneurs at his office on Sunday, PM Dahal instructed the finance minister to immediately start the process of payment of the dues to the construction entrepreneurs. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Dr Prakash Sharan Mahat, Minister for Physical Infrastructure and Transport Prakash Jwala, Chief Secretary Dr Bikuntha Aryal, Finance Secretary Dr Krishna Hari Puskar, Secretary at the Ministry of Physical Infrastructure and Transport, Keshav Kumar Sharma and Director General at the Department of Roads, Sushil Babu Dhakal were also present during the discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the prime minister directed the finance minister to promptly release Rs 1.71 billion, the outstanding amount from last year, and Rs 6.30 billion in due so far in the current fiscal year, the PM's Private Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders expect development works to pick up pace and the economy to become vibrant once this amount is paid to the contractors. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19713', 'image' => '20240115115317_pm.jpg', 'article_date' => '2024-01-15 11:52:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19985', 'article_category_id' => '1', 'title' => 'Rainfall, Snow likely to Occur ', 'sub_title' => '', 'summary' => 'January 15: Eastern and central parts of Nepal will likely receive rainfall and snow today due to the impact of the westerly wind. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: Eastern and central parts of Nepal will likely receive rainfall and snow today due to the impact of the westerly wind. The Meteorological Forecasting Division under the Department of Hydrology and Meteorology said that the country is currently experiencing the influence of the westerly wind which is having partial effects in Nepal. There is also a partial influence of the low pressure system around the southern parts of Bangladesh.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As a result, there is a possibility of light rain and snowfall said the division.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be partly cloudy in the hill region today while the terai region is experiencing foggy conditions at present. The weather will be partly to generally cloudy in the hill region and mainly fair in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is likely to occur at some places of the hill and mountainous regions of Koshi, Bagmati and Gandaki provinces. Light snowfall is likely to occur at a few places in the high hills and mountainous regions of Koshi, Bagmati and Gandaki provinces and at one or two places of the high hills and mountainous regions of Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, light rainfall and light snowfall is likely to occur at one or two places of the hill and mountainous regions of Koshi, Bagmati and Gandaki provinces.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> Kathmandu recorded a minimum temperature of 5.2 degrees Celsius and a maximum temperature of 19.5 degrees Celsius today, according to the division. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-29', 'keywords' => '', 'description' => '', 'sortorder' => '19712', 'image' => '20240115111155_20231031081515_20211108051750_20190228040359_DSC_2752.jpg', 'article_date' => '2024-01-15 11:08:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19984', 'article_category_id' => '1', 'title' => 'Maghe Sankranti Being observed', 'sub_title' => '', 'summary' => 'Maghe Sankranti or Makar Sankranti is being celebrated throughout the country today. It is observed by taking holy dips in rivers and ponds, worshiping at various temples and savoring delicacies like ghee, yam, khichadi and sweets like Chaku and sweets made of sesame and molasses.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> January 15: Maghe Sankranti or Makar Sankranti is being celebrated throughout the country today. It is observed by taking holy dips in rivers and ponds, worshiping at various temples and savoring delicacies like ghee, yam, khichadi and sweets like Chaku and sweets made of sesame and molasses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In accordance with astrological chart, the Makar Sankranti has special significance- this day onwards the sun starts its ascendancy and enters into the northern hemisphere. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On this day, the sunlight moves from the tropic of Capricorn towards the tropic of Cancer. It is believed that the days get longer and nights shorter from today itself.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to ‘Bhabisya Puran’ and ‘Dharma Sindhu’, religious texts, devotees will get special blessings and will have a robust body if they observe the festival as per the rituals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Newar community observes the festival by taking ghee, Chaku and remembering the departed souls. This festival is called ‘Ghyo Chaku Sallnhu’. The seniors apply mild-hot edible oil to the heads of juniors on this day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">A large number of devotees throng Devghat, Barahchhetra, Ridi, Panauti, Dolalghat and Kankai in Nepal and Prayag and Gangasagar in India to take a holy bath and perform Shraddha.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The festival has significance in view of Ayurveda and medical science as well. Food items that are taken on this day are the sources of a balanced diet which increases the immunity power of the human body. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On this day, a festival is organized at the Tilmadhav Narayan Temple at Taumadhi Tole, Bhaktapur and puja of Deepakankar Buddha is performed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Tharu community and Magar community observe this festival as the Maghi with much fanfare and gaiety. Likewise, the people in the Terai districts mark this day as the festival of bath known as Nahan. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The government has announced public holiday to mark Maghe Sankranti/Maghi festival. (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19711', 'image' => '20240115061304_collage (12).jpg', 'article_date' => '2024-01-15 06:11:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19983', 'article_category_id' => '1', 'title' => 'World Bank Hosts Event on Hedging Strategies for Managing Risks, Sustainable Finance', 'sub_title' => '', 'summary' => 'January 14: The World Bank in coordination with the Ministry of Finance held a two-day learning event last week on “Managing Risks and Sustainable Finance”.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 14: The World Bank in coordination with the Ministry of Finance held a two-day learning event last week on “Managing Risks and Sustainable Finance”. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Sunday, the World Bank said that the event was attended by representatives from the Ministry of Finance, the Public Debt Management Office, the Financial Comptroller General Office, Nepal Rastra Bank, Nepal Bankers’ Association, Nepal Insurance Authority, Confederation of Nepalese Industries, and other financial sector professionals.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the participants discussed derivatives instruments and international experiences with the use of financial instruments to address different market risks including interest rate, currency, liquidity, and commodity price risks. They also discussed the benefits of and the critical steps needed to set up a national hedge program from a fiscal risk management perspective, added the statement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The Ministry of Finance is interested in working with the World Bank on a detailed cost-benefit study to evaluate the potential advantages of adopting a hedging mechanism to manage financial risks,” the statement quoted Ram Pramod Yadav, under secretary at the Ministry of Finance as saying. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“There is a need to implement financial instruments in new projects on a pilot basis to help practitioners and policy makers understand the significance of structure approaches in mitigating risks from uncertain market conditions.” </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Participants discussed the technical support the World Bank can provide to set up relevant knowledge exchange programs, as well as the bank’s various lending instruments.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The World Bank is committed to working with the Government of Nepal to strengthen the country’s risk management strategies and set up a hedging program to manage financial risks,” said Fabio Aparecido Da Silva, senior financial officer at the World Bank. He emphasized the need to develop a regulatory framework and build capacity to ensure that hedging strategies serve as effective tools for managing risks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“I welcome the idea of implementing hedging mechanisms to address market volatility on commercial terms, which could help prevent undue fiscal pressures on the nation,” said Bam Bahadur Mishra, deputy governor of Nepal Rastra Bank. “Endorsing market-driven solutions is key to efficiently managing financial risks, fostering sustainability, and navigating challenges, especially considering the country’s resource limitations.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Joseph Silvanus of Dolma Consulting said that the absence of sovereign ratings is a contributing factor to the high cost of borrowing for Nepal from international financiers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Leveraging the currency peg with India could address the absence of a transactable Nepali rupee sovereign bond yield curve, as many transactions can be priced based on the long-term Indian rupee-USD curve,” said Silvanus, adding, “Hedging serves as a good risk mitigating tool, and Nepal stands to gain by accessing the World Bank’s IDA window to uphold a robust balance of payments.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19710', 'image' => '20240114050737_World Bank Treasury Workshop.jpg', 'article_date' => '2024-01-14 17:04:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19982', 'article_category_id' => '1', 'title' => 'NEPSE Surges 31.62 Points Amidst Falling Interest Rates', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) displayed remarkable growth, surging by 31.62 points or 1.51%, ultimately closing at 2120.62 on the first trading day of the week on Sunday.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">January 14: The Nepal Stock Exchange (NEPSE) displayed remarkable growth, surging by 31.62 points or 1.51%, ultimately closing at 2120.62 on the first trading day of the week on Sunday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">During today’s trading session, 314 scrips were traded through 94,526 transactions. A significant volume of 16,605,234 shares changed hands, with the total turnover of Rs 5.45 billion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Nepal Reinsurance Company Limited Promoter Share (NRICP) took the lead in turnover with transactions amounting to Rs 35 crores.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In terms of performance of individual stocks, five companies including Himalayan Power Partners Limited (HPPL) and Kalika Power Company Limited (KPCL) stood out by each gaining 10% and hitting the positive circuit for the day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Conversely, Mega Mutual Fund-1 (MMF1) experienced the most significant loss, decreasing by 9.53% and closing at a market price of Rs 7.50 per share.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In terms of sector performance, all sectors, except for Hotels and Tourism Index and Trading Index, closed in positive territory. The Hydropower Index demonstrated the highest gain at 4.58%, while Nonlife Insurance saw a minimal gain of 0.01%. On the flip side, the Trading Index incurred the highest loss at 0.94%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Investors and analysts attributed the continuous rise in the stock market to declining banking interest rates. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19709', 'image' => '20240114050345_collage (19).jpg', 'article_date' => '2024-01-14 16:54:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19981', 'article_category_id' => '1', 'title' => 'NEA to Issue IPO worth Rs 60 Billion', 'sub_title' => '', 'summary' => 'January 14: Nepal Electricity Authority (NEA) is preparing to sell its ordinary shares by issuing Initial Public Offerings (IPO) worth Rs 60 billion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: Nepal Electricity Authority (NEA) is preparing to sell its ordinary shares by issuing Initial Public Offerings (IPO) worth Rs 60 billion. The state-owned NEA is one of the public institutions that is becoming financially strong in recent days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA is planning to restructure the financial structure of the organization and sell the shares to the general public in accordance with the Nepal Electricity Authority Act, 2041. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Finance has already given consent for the sale of shares. After the approval of the Finance Ministry, the Ministry of Energy, Water Resources and Irrigation is preparing to submit a proposal in this regard to the Council of Ministers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The meeting of the Board of Directors of the NEA held on December 11 took a decision to this effect. The Board of Directors of the NEA has agreed to maintain the authorized capital of Rs 300 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has decided to request approval from the Council of Ministers through the Ministry of Energy to issue shares to the general public at a premium price of up to 10 percent of the proposed authorized capital, maintaining the price per share up to twice the net worth. The decision has been submitted to the Ministry of Energy by the Executive Director of the Authority, Kulman Ghising, on January 4.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shakti Bahadur Basnet, the Minister for Energy, Water Resources and Irrigation, who is also the chairman of the Board of Directors of the NEA, said that the shares are going to be issued with the aim of making the public institution more powerful. Prior to this, the government had also sold the shares of Nepal Telecommunications to the general public.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NEA has proposed to maintain the book value of its shares at around Rs 125 and add the same amount of premium to issue shares. Therefore, the common people who want to buy shares of the NEA will have to spend Rs 250 per share.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authorized capital of the NEA at present is equal to Rs 125 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has concluded that the budget allocated by the government is insufficient to increase its capital investment. Therefore, the NEA has to raise investment through alternative sources.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NEA is preparing to use various financial tools as an alternative source for financial management. The NEA has realized the need to increase its capital through ordinary shares, corporate bonds, debentures, green bonds, etc.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has pledged to use the funds raised by issuing shares to the general public as a long-term investment in construction of reservoir projects, expansion and strengthening of transmission and distribution lines. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19708', 'image' => '20240114031804_NEA update.jpg', 'article_date' => '2024-01-14 15:17:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19980', 'article_category_id' => '1', 'title' => 'Government Fails to Manage Problematic Cooperatives', 'sub_title' => '', 'summary' => 'January 14: The government has failed to manage problematic cooperatives.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: The government has failed to manage problematic cooperatives. Although the government formed a problematic cooperative management committee six years ago for the management of organizations that could not return the depositor’s money, it has not been able to distribute the assets and liabilities even in a single case.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a provision in the Cooperatives Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">that that allows the Ministry of Land Management, Cooperatives and Poverty Alleviation to declare a cooperative as problematic upon the recommendation of the Registrar of the Department of Cooperatives. Following the declaration, there is a provision in the law for the committee to investigate the organization's assets and liabilities and settle the arrears.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this arrangement, the Federal Government formed the 'Problem Cooperative Management Committee' on January 13, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, the government has declared </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> institutions as problematic and assigned the responsibility to the committee to settle the issue, but none of the institutions have been held fully accountable.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to member secretary of the committee, Keshav Prasad Paudel, the embezzled amount of the depositors of Kuber Savings and Loan Cooperative and Standard Multipurpose Cooperative has been returned to the depositors as of the last fiscal year but the authorities are yet to recover the loans given by both the organizations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the government declared Oriental Cooperative as problematic for the first time. However, Oriental Cooperative moved the court and won the case, the government could not settle its arrears. In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Oriental was once again declared problematic by the ministry and handed over to the committee for financial management. The problem of Oriental Cooperative has not been resolved even in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A commission formed by the government to study the problematic cooperatives had suggested to solve the problems of the cooperatives by forming a management committee. According to the suggestion of the commission headed by Gauri Bahadur Karki, the government incorporated the provision for the formation of the committee in the Cooperatives Act itself. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government made Karki the first chairman of the committee. However, due to the change of government, he could not work for a long time. Then Yuvraj Subedi and Kumar Prasad Pokharel led the committee. Kashinath Dahal has been the chairman of the committee for two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Cooperative Act, there is a provision that the chairman of the seven-member management committee should be a judge of the High Court or a person with similar qualifications. Similarly, there is a legal provision that among the members should be one person who has worked at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th level in the civil service, one person who has worked at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th level in a bank and financial institution or a chartered accountant, one member appointed by the Cooperative Federation and one member secretary of a gazetted second class government employee.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sudarshan Prasad Dhakal, an expert on cooperatives, says that the management model of troubled cooperatives is flawed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is a provision for the government to announce a cooperative as problematic and hand over its responsibility to the committee after the cooperative becomes problematic," he said, adding, "This provision is not helpful in solving the problems of the cooperatives."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee has also suggested the government to freeze the assets of the organization and its directors before declaring the organization problematic. A member of the committee said that by the time the committee takes over the problematic cooperatives, the organisations will already have sold all the property and the director hides the property, and even the documents of the organization are already lost. So, it is difficult to work. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It is the responsibility of the government and the depositors to protect the assets of the organization before it is handed over to the committee," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19707', 'image' => '20240114031656_cooperative problematic.jpg', 'article_date' => '2024-01-14 15:16:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19979', 'article_category_id' => '1', 'title' => 'TIA Records Highest Ever Number of International Air Passengers in 2023', 'sub_title' => '', 'summary' => 'January 14: The number of air passengers has increased at the Tribhuvan International Airport. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 14: The number of air passengers has increased at the Tribhuvan International Airport. According to the airport, a total of 86,91,443 passengers used the airport in 2023 for both domestic and international flights. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the airport, 45,41,137 passengers used this airport for international flights during last year, which is 30.18 percent more than the previous year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The airport’s General Manager Pratap Babu Tiwari informed that this number is the highest ever in history of TIA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In 2022, a total of 79,54,495 people used the airport services. According to the airport, the total passenger flow (domestic and international) has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Before the onset of coronavirus, altogether 71,90,912 passengers used this airport in 2018 and 73,27,031 passengers used this airport in 2019.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In 2023, the number of international flights also increased to 31,460 which is 29.40 percent more compared to the previous year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, the airport recorded cargo movement of 22,946 tons, which is more than that of the previous year by 13.98 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The number of domestic air travelers stood at 41,50,326 in the review year, which is 7.07 percent less than the previous year. During this period, 96,989 domestic flights took place from the airport. The number of flights also decreased by 10.87 percent compared to last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">General Manager Tiwari said that inland cargo arrivals increased by 10.36 percent to 3,426,861 tons compared to last year. According to him, currently nine airline companies and 12 helicopter companies are operating domestically at Tribhuvan International Airport, while 30 airlines including 3 Nepali airlines are serving 31 destinations in 16 countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Nepal has bilateral air service agreements with 41 countries. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19706', 'image' => '20240114023216_20230627040802_20220428023242_5e.jpg', 'article_date' => '2024-01-14 14:30:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19978', 'article_category_id' => '1', 'title' => 'Nepal-India IGSC meeting Stresses on Connectivity between Two Countries', 'sub_title' => '', 'summary' => 'January 14: The Nepal-India Inter-Governmental Sub-Committee (IGSC) meeting on Trade, Transit and Cooperation to Control Unauthorised Trade concluded in Kathmandu with commitment to explore avenues for strengthening connectivity between the two countries. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 14: The Nepal-India Inter-Governmental Sub-Committee (IGSC) meeting on Trade, Transit and Cooperation to Control Unauthorised Trade concluded in Kathmandu with commitment to explore avenues for strengthening connectivity between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two-day meeting held on January 12 and 13 aimed to promote bilateral cooperation and trade relations and transit by preventing unauthorised trade. Joint Secretary at the Ministry of Industry, Commerce and Supplies, Ram Chandra Tiwari headed the Nepali delegation in the meeting that was attended by representatives from various ministries and departments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint Secretary Vipul Bansal of the Ministry of Commerce and Industry of India led the Indian delegation in the meeting which witnessed the participation of representatives of the Embassy of India in Kathmandu and senior government officials from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting discussed on various agenda while also exploring ways for finding a mutual market access for medicinal and ayurvedic goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Indian side highlighted the significance of the Paris Convention to promote foreign direct investment. The meeting stressed on the need of strengthening unobstructed trans-national connectivity between Nepal and India including the establishment of an integrated customs point and the construction of a railway service between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India remains a major trading partner of Nepal. The meeting is expected to contribute to further enhancing the economic and business relations between the two countries. -- RSS</span><br /> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19705', 'image' => '20240114021203_Untitled.jpg', 'article_date' => '2024-01-14 14:11:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19977', 'article_category_id' => '1', 'title' => 'TRS Atlas gets the Responsibility of Operating Nepalgunj ICP', 'sub_title' => '', 'summary' => 'January 14: A private company has been selected to operate and manage the Nepalgunj Integrated Checkpoint (ICP), which is in the final stages of construction. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: A private company has been selected to operate and manage the Nepalgunj Integrated Checkpoint (ICP), which is in the final stages of construction. Nepal Intermodal Transport Development Committee has selected TRS Atlas Logipark Pvt Ltd for the operation of the ICP.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee called for international tenders on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">6 for the operation of the ICP. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Besides TRS Atlas, Bhatbhateni, Kathmandu and Trans Nepal Freight Services Pvt had submitted proposals to operate the ICP.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashish Gajurel, executive director of the committee, informed that they signed an agreement with TRS Atlas Logipark Pvt. Ltd. for the operation of the ICP. As per the agreement, TRS Atlas will operate the ICP for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Gajurel said that the construction of the physical infrastructure of the ICP, which is under construction with the financial and technical support of the Government of India, has been completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, the water tank, CCTV connection, networking, firefighting system etc are currently being installed at the ICP. The construction of the ICP was started on October 12, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Gajurel said that the Nepalgunj ICP was built with the aim of making Nepal's international trade more simple, orderly and convenient.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that there are eight such ICPs in the country and all of them are being operated by private sector companies selected through competitive bids. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"This has increased the standard of service. The income of the state has also increased," he claimed, adding, "Looking at the international practice, such ports are being operated through the private sector in a public private partnership (PPP) model."</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19704', 'image' => '20240114010644_1705205738.jpg', 'article_date' => '2024-01-14 13:06:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19976', 'article_category_id' => '1', 'title' => 'NEA Reconnects Electricity Lines to all Industries within Three Weeks', 'sub_title' => '', 'summary' => 'January 14: Three weeks after disconnecting electricity supply to 24 industries for non-payment of electricity dues for dedicated feeder and trunk lines, the Nepal Electricity Authority has reconnected the supply lines.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: Three weeks after disconnecting electricity supply to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries for non-payment of electricity dues for dedicated feeder and trunk lines, the Nepal Electricity Authority has reconnected the supply lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A meeting of the Council of Ministers on Tuesday formed an investigation committee to resolve the tariff dispute and directed the NEA to immediately reconnect electricity to all the industries whose lines were cut.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Four days after the cabinet decision, a meeting of the board of directors of the NEA decided to reconnect electricity to the industries whose lines were cut. Following the board’s decision, NEA reconnected electricity to all industries on Friday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Suresh Bhattarai, information officer of the NEA, informed that the work of reconnecting electricity to all the industries whose lines were cut has been completed by Friday midnight. According to him, the Council of Ministers decided to reconnect the line, so the lines were connected even though the dispute has not been resolved.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries have yet to pay Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion to the authority for using the facility of dedicated and trunk lines. Among them, Himal Steel paid the outstanding amount in installment last Monday. The NEA connected the line of Himal Steel after it paid the first installment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authority had disconnected the lines of the industries in different stages from December 22. In the first phase, the lines of Jagdamba Steel, Ghorahi Cement, Reliance Spinning Mills and Arghakhanchi Cement were cut. In the second phase, NEA cut the lines of Sonapur Minerals and Oil Ltd, Lakshmi Steel, Sarvottam Cement, Ashok Steel, and Triveni Spinning Mills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the third phase, it stopped electricity supply to Baba Jute Mill, Siddharth Cement, Triveni Synthetic, Himal Iron and Steel, Jagdamba Enterprises, Hama Iron, Everest Paper Mill, Cosmos Cement, Shubhashree Agni Cement, Jagdamba Synthetic, Gharana Foods, Narayani Spat and Butwal Cement followed by the disconnection of electricity line of Hulas Steel.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19703', 'image' => '20240114120212_1703559400.1605049113.Clipboard04.jpg', 'article_date' => '2024-01-14 12:01:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19991', 'article_category_id' => '1', 'title' => 'Galli Maps wins NYEF Startup Awards', 'sub_title' => '', 'summary' => 'anuary 15: Galli Maps won the NYEF Startup Awards during the grand finale held on January 12. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">January 15: Galli Maps won the NYEF Startup Awards during the grand finale held on January 12. The organisers said that the Galli Maps was awarded with a cash prize of Rs 400,000 for creating the most detailed map of Nepal with information of house numbers, alley and 360 degree view.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">“Our maps help business enterprises deliver their products/services at their customers' doorstep easily and accurately,” said Raj Bikram Maharjan, proprietor of Galli Express Pvt Ltd which developed the map. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">According to the organisers, there was a tie for the first runner-up position as Quickfox Consulting and PetMama Nepal shared the honours. They also shared the cash prize of Rs 200,000. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Quickfox Consulting was awarded for its advanced RPA solution that streamlines tedious, rule-based tasks for companies. According to the organisers, this solution enhances efficiency, elevates productivity, and sets higher customer service standards by eliminating manual errors and time-consuming processes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Similarly, PetMama Nepal was awarded for its one-stop pet care solution offering grooming and retail services along with a pet hotel, a pet bakery, and a dog day care service. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The top three winners were selected from among the seven finalists who pitched their ideas in front of a panel of expert judges including Sewa Pathak, CEO of Vianet Communications, Niranjan Shrestha, executive director of Laxmi Group, and Ajit Shah, CEO of Lotus Holdings. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The audience was also involved, as they got to vote for their favorites for the audience choice award. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">PetMama Nepal also bagged the Audience Choice Award, a testament to the startup that resonated most with the audience. They received a Rs 50,000 in cash prize.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Similarly, the Social Enterprise Award with a cash prize of Rs 50,000, was presented to Dursikshya Education, spearheaded by Krishna Pandey. Dursikshya is an innovative educational organization committed to advancing STEM education.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The winners were selected on the basis of their resilience, creativity, and commitment to positive change for the entrepreneurial community in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The startup award was sponsored by Sagarmatha Lumbini Insurance, NMB Bank, FNCCI, Apex College, Adex and NPEA.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19717', 'image' => '20240115034156_galli.jpg', 'article_date' => '2024-01-15 15:40:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19989', 'article_category_id' => '1', 'title' => 'Projects under ADB Loan Assistance Struggling to Meet Deadline', 'sub_title' => '', 'summary' => 'January 15: The authorities concerned are struggling to complete various sections of highways being built with the support from the Asian Development Bank (ADB) even within the extended deadline.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 15: The authorities concerned are struggling to complete various sections of highways being built with the support from the Asian Development Bank (ADB) even within the extended deadline.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Narayangadh-Butwal section of the East-West Highway, Muglin-Pokhara road section and Kanchanpur-Kamala road section are being constructed with loans from the ADB.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ADB project directorate under the Department of Roads has extended the deadline for the Narayangadh-Butwal and Kanchanpur-Kamala roads. The work of these two sections under the East-West Highway is not even half completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Chinese contractor company has expressed commitment to complete the work of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">113</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km Narayangadh-Butwal section within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months. However, despite extending the deadline twice, only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers have been blacktopped so far, while the construction of the service lanes, bridges, drains, and sub-bases is underway.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The agreement for construction of Narayangadh-Butwal road section was signed between the DoR and the Chinese company M/S China State Construction Engineering Corporation Pvt Ltd on December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2018. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the road should have been completed on August </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the project remains incomplete and the government has extended the deadline twice saying that the work was interrupted due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The deadline for upgrading the road has been extended till July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> considering the impact of coronavirus and the problems in removal of electricity poles and availability of construction materials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the latest deadline extension, there is still about seven months left for the project to compete the works related to upgrading this road section. However, project director Chudaraj Dhakal informed that the contractor company has requested for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to complete the work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the deadline of Kanchanpur-Kamala road section has also been extended due to the delay in completion of the work. The DoR had handed over the contract to M/M China Railway No </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Engineering Group on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> with an agreement to complete the project within three years from the date of signing the agreement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the work was not completed on time, the deadline was extended until December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers of this road section measuring </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">86.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers has been blacktopped. The road is supposed to be expanded into four lanes but only two lanes have been blacktopped. The extended deadline of the project will expire in about one year while the work progress is only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">41.47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the deadline for upgrading the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers long Mugling-Pokhara road section with loan assistance of ADB has not been extended.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The DoR had signed a contract agreement with a Chinese company M/S China Communication Construction Company Limited on April </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for this project</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Project Director Dhakal said that the work of this section should be completed by April </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2025</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, as per the agreement</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The deadline has not been extended in this section," Dhakal said, "However, the construction company issued a warning for slow work progress. After the department warned of terminating the contract, the contractor made a commitment with a schedule to complete all the work by December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2025</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The project directorate informed that it is yet to decide on whether or not to extend the deadline. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last Thursday, the project directorate held a press conference to inform about the progress of these roads. On the occasion, Keshav Kumar Sharma, secretary at the Ministry of Physical Infrastructure and Transport, explained the reason for the delay, arguing that Chinese construction workers could not arrive in Nepal due to lockdown in the wake of the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Apart from this, there was a problem with removal of trees and electricity poles. Also, there was no significant support from the local level,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19716', 'image' => '20240115015219_20220926014301_road.jpg', 'article_date' => '2024-01-15 13:51:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19988', 'article_category_id' => '1', 'title' => 'Water Supply from Melamchi Resumes', 'sub_title' => '', 'summary' => 'January 15: The much-awaited water distribution from Melamchi resumed in Kathmandu Valley from today. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: The much-awaited water distribution from Melamchi resumed in Kathmandu Valley from today. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal inaugurated the Melamchi water supply diversion and redistribution from the premises of the Prime Minister's Office at Singha Durbar on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Drinking Water, Suresh Acharya, said that water would be gradually distributed in Anamnagar, Minbhawan, Mahankalchaur, Rigni, Bhaktapur, Khumaltar, Balaju and Bansbari areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal had directed Minister for Drinking Water Mahendra Ray Yadav to make arrangements to bring Melamchi water to the capital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the directive of the prime minister, the Ministry of Drinking Water took the initiative to bring water by repairing the Melamchi Water Supply Project. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Water supply from Melamchi, which was disrupted due to floods and landslides, has now resumed in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Melamchi Water Supply Development Committee and construction company, Sino Hydro, had reached an agreement on December 19 to bring water from Melamchi to Kathmandu within 28 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Around 170 million litres of water is being brought to Kathmandu daily from Melamchi. The source area of the project was damaged after a flood and landslide occurred in Melamchi rivulet on June 15, 2021. Since then, the project has not been able to supply water from Melamchi on a regular basis in Kathmandu. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19715', 'image' => '20240115011423_RS_KTM_RATL67711.jpg', 'article_date' => '2024-01-15 13:08:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19987', 'article_category_id' => '1', 'title' => 'CAAN Proposes Managing Four International Airports under Public-Private Partnership Model', 'sub_title' => '', 'summary' => 'January 15: The Civil Aviation Authority of Nepal (CAAN) has decided to manage four international airports on a public-private-partnership (PPP) model.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 15: The Civil Aviation Authority of Nepal (CAAN) has decided to manage four international airports on a public-private-partnership (PPP) model.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">A meeting of the board of directors of the aviation sector regulator decided to operate and expand the three existing international airports and the proposed Nijgadh International Airport under this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">CAAN Spokesperson Jagannath Niraula informed New Business Age that the proposal in this regard has been sent to the Ministry of Culture, Tourism and Civil Aviation for further discussion and necessary action regarding the operation and expansion of Tribhuvan International Airport (TIA), Gautam Buddha International Airport (GBIA) and Pokhara Regional International Airport (PRIA) and the construction of the proposed Nijgadh International Airport.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">While unveiling the progress report after completing one year in office on December 26, Prime Minister Pushpa Kamal Dahal had announced that the government was planning to operate the international airports on the same concept. Now, the CAAN has taken concrete steps to seek partners for the operation and management of the airports under this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Tribhuvan International Airport is the first international airport of the country. Gautam Buddha International Airport was inaugurated on May 16, 2022 while the Pokhara Regional International Airport came into operation from January 1, 2023.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although there are three international airports in the country, only the TIA is fully operational while the other two are under-utilized due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As the GBIA and PRIA are still not fully operational even after one and a half years of operation, the government is planning to operate all the international airports under the PPP concept through a single package. The CAAN is hopeful that if Tribhuvan International Airport, which makes the highest income, is also included in the package, it will be able to bring in a partner for the management of the airports.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19714', 'image' => '20240115122424_1705292745.1703995104.1684223440.Airport 1.jpg', 'article_date' => '2024-01-15 12:23:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19986', 'article_category_id' => '1', 'title' => 'Prime Minister Dahal Instructs Immediate Release of Due Amount to the Contractors', 'sub_title' => '', 'summary' => 'January 15: Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to release the payment for the dues that the government owes to the contractors.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to release the payment for the dues that the government owes to the contractors.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During a discussion with the construction entrepreneurs at his office on Sunday, PM Dahal instructed the finance minister to immediately start the process of payment of the dues to the construction entrepreneurs. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Dr Prakash Sharan Mahat, Minister for Physical Infrastructure and Transport Prakash Jwala, Chief Secretary Dr Bikuntha Aryal, Finance Secretary Dr Krishna Hari Puskar, Secretary at the Ministry of Physical Infrastructure and Transport, Keshav Kumar Sharma and Director General at the Department of Roads, Sushil Babu Dhakal were also present during the discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the prime minister directed the finance minister to promptly release Rs 1.71 billion, the outstanding amount from last year, and Rs 6.30 billion in due so far in the current fiscal year, the PM's Private Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders expect development works to pick up pace and the economy to become vibrant once this amount is paid to the contractors. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19713', 'image' => '20240115115317_pm.jpg', 'article_date' => '2024-01-15 11:52:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19985', 'article_category_id' => '1', 'title' => 'Rainfall, Snow likely to Occur ', 'sub_title' => '', 'summary' => 'January 15: Eastern and central parts of Nepal will likely receive rainfall and snow today due to the impact of the westerly wind. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: Eastern and central parts of Nepal will likely receive rainfall and snow today due to the impact of the westerly wind. The Meteorological Forecasting Division under the Department of Hydrology and Meteorology said that the country is currently experiencing the influence of the westerly wind which is having partial effects in Nepal. There is also a partial influence of the low pressure system around the southern parts of Bangladesh.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As a result, there is a possibility of light rain and snowfall said the division.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be partly cloudy in the hill region today while the terai region is experiencing foggy conditions at present. The weather will be partly to generally cloudy in the hill region and mainly fair in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is likely to occur at some places of the hill and mountainous regions of Koshi, Bagmati and Gandaki provinces. Light snowfall is likely to occur at a few places in the high hills and mountainous regions of Koshi, Bagmati and Gandaki provinces and at one or two places of the high hills and mountainous regions of Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, light rainfall and light snowfall is likely to occur at one or two places of the hill and mountainous regions of Koshi, Bagmati and Gandaki provinces.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> Kathmandu recorded a minimum temperature of 5.2 degrees Celsius and a maximum temperature of 19.5 degrees Celsius today, according to the division. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-29', 'keywords' => '', 'description' => '', 'sortorder' => '19712', 'image' => '20240115111155_20231031081515_20211108051750_20190228040359_DSC_2752.jpg', 'article_date' => '2024-01-15 11:08:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19984', 'article_category_id' => '1', 'title' => 'Maghe Sankranti Being observed', 'sub_title' => '', 'summary' => 'Maghe Sankranti or Makar Sankranti is being celebrated throughout the country today. It is observed by taking holy dips in rivers and ponds, worshiping at various temples and savoring delicacies like ghee, yam, khichadi and sweets like Chaku and sweets made of sesame and molasses.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> January 15: Maghe Sankranti or Makar Sankranti is being celebrated throughout the country today. It is observed by taking holy dips in rivers and ponds, worshiping at various temples and savoring delicacies like ghee, yam, khichadi and sweets like Chaku and sweets made of sesame and molasses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In accordance with astrological chart, the Makar Sankranti has special significance- this day onwards the sun starts its ascendancy and enters into the northern hemisphere. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On this day, the sunlight moves from the tropic of Capricorn towards the tropic of Cancer. It is believed that the days get longer and nights shorter from today itself.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to ‘Bhabisya Puran’ and ‘Dharma Sindhu’, religious texts, devotees will get special blessings and will have a robust body if they observe the festival as per the rituals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Newar community observes the festival by taking ghee, Chaku and remembering the departed souls. This festival is called ‘Ghyo Chaku Sallnhu’. The seniors apply mild-hot edible oil to the heads of juniors on this day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">A large number of devotees throng Devghat, Barahchhetra, Ridi, Panauti, Dolalghat and Kankai in Nepal and Prayag and Gangasagar in India to take a holy bath and perform Shraddha.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The festival has significance in view of Ayurveda and medical science as well. Food items that are taken on this day are the sources of a balanced diet which increases the immunity power of the human body. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On this day, a festival is organized at the Tilmadhav Narayan Temple at Taumadhi Tole, Bhaktapur and puja of Deepakankar Buddha is performed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Tharu community and Magar community observe this festival as the Maghi with much fanfare and gaiety. Likewise, the people in the Terai districts mark this day as the festival of bath known as Nahan. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The government has announced public holiday to mark Maghe Sankranti/Maghi festival. (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19711', 'image' => '20240115061304_collage (12).jpg', 'article_date' => '2024-01-15 06:11:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19983', 'article_category_id' => '1', 'title' => 'World Bank Hosts Event on Hedging Strategies for Managing Risks, Sustainable Finance', 'sub_title' => '', 'summary' => 'January 14: The World Bank in coordination with the Ministry of Finance held a two-day learning event last week on “Managing Risks and Sustainable Finance”.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 14: The World Bank in coordination with the Ministry of Finance held a two-day learning event last week on “Managing Risks and Sustainable Finance”. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Sunday, the World Bank said that the event was attended by representatives from the Ministry of Finance, the Public Debt Management Office, the Financial Comptroller General Office, Nepal Rastra Bank, Nepal Bankers’ Association, Nepal Insurance Authority, Confederation of Nepalese Industries, and other financial sector professionals.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the participants discussed derivatives instruments and international experiences with the use of financial instruments to address different market risks including interest rate, currency, liquidity, and commodity price risks. They also discussed the benefits of and the critical steps needed to set up a national hedge program from a fiscal risk management perspective, added the statement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The Ministry of Finance is interested in working with the World Bank on a detailed cost-benefit study to evaluate the potential advantages of adopting a hedging mechanism to manage financial risks,” the statement quoted Ram Pramod Yadav, under secretary at the Ministry of Finance as saying. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“There is a need to implement financial instruments in new projects on a pilot basis to help practitioners and policy makers understand the significance of structure approaches in mitigating risks from uncertain market conditions.” </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Participants discussed the technical support the World Bank can provide to set up relevant knowledge exchange programs, as well as the bank’s various lending instruments.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The World Bank is committed to working with the Government of Nepal to strengthen the country’s risk management strategies and set up a hedging program to manage financial risks,” said Fabio Aparecido Da Silva, senior financial officer at the World Bank. He emphasized the need to develop a regulatory framework and build capacity to ensure that hedging strategies serve as effective tools for managing risks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“I welcome the idea of implementing hedging mechanisms to address market volatility on commercial terms, which could help prevent undue fiscal pressures on the nation,” said Bam Bahadur Mishra, deputy governor of Nepal Rastra Bank. “Endorsing market-driven solutions is key to efficiently managing financial risks, fostering sustainability, and navigating challenges, especially considering the country’s resource limitations.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Joseph Silvanus of Dolma Consulting said that the absence of sovereign ratings is a contributing factor to the high cost of borrowing for Nepal from international financiers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Leveraging the currency peg with India could address the absence of a transactable Nepali rupee sovereign bond yield curve, as many transactions can be priced based on the long-term Indian rupee-USD curve,” said Silvanus, adding, “Hedging serves as a good risk mitigating tool, and Nepal stands to gain by accessing the World Bank’s IDA window to uphold a robust balance of payments.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19710', 'image' => '20240114050737_World Bank Treasury Workshop.jpg', 'article_date' => '2024-01-14 17:04:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19982', 'article_category_id' => '1', 'title' => 'NEPSE Surges 31.62 Points Amidst Falling Interest Rates', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) displayed remarkable growth, surging by 31.62 points or 1.51%, ultimately closing at 2120.62 on the first trading day of the week on Sunday.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">January 14: The Nepal Stock Exchange (NEPSE) displayed remarkable growth, surging by 31.62 points or 1.51%, ultimately closing at 2120.62 on the first trading day of the week on Sunday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">During today’s trading session, 314 scrips were traded through 94,526 transactions. A significant volume of 16,605,234 shares changed hands, with the total turnover of Rs 5.45 billion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Nepal Reinsurance Company Limited Promoter Share (NRICP) took the lead in turnover with transactions amounting to Rs 35 crores.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In terms of performance of individual stocks, five companies including Himalayan Power Partners Limited (HPPL) and Kalika Power Company Limited (KPCL) stood out by each gaining 10% and hitting the positive circuit for the day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Conversely, Mega Mutual Fund-1 (MMF1) experienced the most significant loss, decreasing by 9.53% and closing at a market price of Rs 7.50 per share.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In terms of sector performance, all sectors, except for Hotels and Tourism Index and Trading Index, closed in positive territory. The Hydropower Index demonstrated the highest gain at 4.58%, while Nonlife Insurance saw a minimal gain of 0.01%. On the flip side, the Trading Index incurred the highest loss at 0.94%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Investors and analysts attributed the continuous rise in the stock market to declining banking interest rates. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19709', 'image' => '20240114050345_collage (19).jpg', 'article_date' => '2024-01-14 16:54:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19981', 'article_category_id' => '1', 'title' => 'NEA to Issue IPO worth Rs 60 Billion', 'sub_title' => '', 'summary' => 'January 14: Nepal Electricity Authority (NEA) is preparing to sell its ordinary shares by issuing Initial Public Offerings (IPO) worth Rs 60 billion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: Nepal Electricity Authority (NEA) is preparing to sell its ordinary shares by issuing Initial Public Offerings (IPO) worth Rs 60 billion. The state-owned NEA is one of the public institutions that is becoming financially strong in recent days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA is planning to restructure the financial structure of the organization and sell the shares to the general public in accordance with the Nepal Electricity Authority Act, 2041. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Finance has already given consent for the sale of shares. After the approval of the Finance Ministry, the Ministry of Energy, Water Resources and Irrigation is preparing to submit a proposal in this regard to the Council of Ministers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The meeting of the Board of Directors of the NEA held on December 11 took a decision to this effect. The Board of Directors of the NEA has agreed to maintain the authorized capital of Rs 300 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has decided to request approval from the Council of Ministers through the Ministry of Energy to issue shares to the general public at a premium price of up to 10 percent of the proposed authorized capital, maintaining the price per share up to twice the net worth. The decision has been submitted to the Ministry of Energy by the Executive Director of the Authority, Kulman Ghising, on January 4.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shakti Bahadur Basnet, the Minister for Energy, Water Resources and Irrigation, who is also the chairman of the Board of Directors of the NEA, said that the shares are going to be issued with the aim of making the public institution more powerful. Prior to this, the government had also sold the shares of Nepal Telecommunications to the general public.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NEA has proposed to maintain the book value of its shares at around Rs 125 and add the same amount of premium to issue shares. Therefore, the common people who want to buy shares of the NEA will have to spend Rs 250 per share.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authorized capital of the NEA at present is equal to Rs 125 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has concluded that the budget allocated by the government is insufficient to increase its capital investment. Therefore, the NEA has to raise investment through alternative sources.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NEA is preparing to use various financial tools as an alternative source for financial management. The NEA has realized the need to increase its capital through ordinary shares, corporate bonds, debentures, green bonds, etc.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has pledged to use the funds raised by issuing shares to the general public as a long-term investment in construction of reservoir projects, expansion and strengthening of transmission and distribution lines. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19708', 'image' => '20240114031804_NEA update.jpg', 'article_date' => '2024-01-14 15:17:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19980', 'article_category_id' => '1', 'title' => 'Government Fails to Manage Problematic Cooperatives', 'sub_title' => '', 'summary' => 'January 14: The government has failed to manage problematic cooperatives.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: The government has failed to manage problematic cooperatives. Although the government formed a problematic cooperative management committee six years ago for the management of organizations that could not return the depositor’s money, it has not been able to distribute the assets and liabilities even in a single case.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a provision in the Cooperatives Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">that that allows the Ministry of Land Management, Cooperatives and Poverty Alleviation to declare a cooperative as problematic upon the recommendation of the Registrar of the Department of Cooperatives. Following the declaration, there is a provision in the law for the committee to investigate the organization's assets and liabilities and settle the arrears.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this arrangement, the Federal Government formed the 'Problem Cooperative Management Committee' on January 13, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, the government has declared </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> institutions as problematic and assigned the responsibility to the committee to settle the issue, but none of the institutions have been held fully accountable.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to member secretary of the committee, Keshav Prasad Paudel, the embezzled amount of the depositors of Kuber Savings and Loan Cooperative and Standard Multipurpose Cooperative has been returned to the depositors as of the last fiscal year but the authorities are yet to recover the loans given by both the organizations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the government declared Oriental Cooperative as problematic for the first time. However, Oriental Cooperative moved the court and won the case, the government could not settle its arrears. In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Oriental was once again declared problematic by the ministry and handed over to the committee for financial management. The problem of Oriental Cooperative has not been resolved even in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A commission formed by the government to study the problematic cooperatives had suggested to solve the problems of the cooperatives by forming a management committee. According to the suggestion of the commission headed by Gauri Bahadur Karki, the government incorporated the provision for the formation of the committee in the Cooperatives Act itself. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government made Karki the first chairman of the committee. However, due to the change of government, he could not work for a long time. Then Yuvraj Subedi and Kumar Prasad Pokharel led the committee. Kashinath Dahal has been the chairman of the committee for two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Cooperative Act, there is a provision that the chairman of the seven-member management committee should be a judge of the High Court or a person with similar qualifications. Similarly, there is a legal provision that among the members should be one person who has worked at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th level in the civil service, one person who has worked at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th level in a bank and financial institution or a chartered accountant, one member appointed by the Cooperative Federation and one member secretary of a gazetted second class government employee.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sudarshan Prasad Dhakal, an expert on cooperatives, says that the management model of troubled cooperatives is flawed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is a provision for the government to announce a cooperative as problematic and hand over its responsibility to the committee after the cooperative becomes problematic," he said, adding, "This provision is not helpful in solving the problems of the cooperatives."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee has also suggested the government to freeze the assets of the organization and its directors before declaring the organization problematic. A member of the committee said that by the time the committee takes over the problematic cooperatives, the organisations will already have sold all the property and the director hides the property, and even the documents of the organization are already lost. So, it is difficult to work. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It is the responsibility of the government and the depositors to protect the assets of the organization before it is handed over to the committee," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19707', 'image' => '20240114031656_cooperative problematic.jpg', 'article_date' => '2024-01-14 15:16:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19979', 'article_category_id' => '1', 'title' => 'TIA Records Highest Ever Number of International Air Passengers in 2023', 'sub_title' => '', 'summary' => 'January 14: The number of air passengers has increased at the Tribhuvan International Airport. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 14: The number of air passengers has increased at the Tribhuvan International Airport. According to the airport, a total of 86,91,443 passengers used the airport in 2023 for both domestic and international flights. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the airport, 45,41,137 passengers used this airport for international flights during last year, which is 30.18 percent more than the previous year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The airport’s General Manager Pratap Babu Tiwari informed that this number is the highest ever in history of TIA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In 2022, a total of 79,54,495 people used the airport services. According to the airport, the total passenger flow (domestic and international) has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Before the onset of coronavirus, altogether 71,90,912 passengers used this airport in 2018 and 73,27,031 passengers used this airport in 2019.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In 2023, the number of international flights also increased to 31,460 which is 29.40 percent more compared to the previous year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, the airport recorded cargo movement of 22,946 tons, which is more than that of the previous year by 13.98 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The number of domestic air travelers stood at 41,50,326 in the review year, which is 7.07 percent less than the previous year. During this period, 96,989 domestic flights took place from the airport. The number of flights also decreased by 10.87 percent compared to last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">General Manager Tiwari said that inland cargo arrivals increased by 10.36 percent to 3,426,861 tons compared to last year. According to him, currently nine airline companies and 12 helicopter companies are operating domestically at Tribhuvan International Airport, while 30 airlines including 3 Nepali airlines are serving 31 destinations in 16 countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Nepal has bilateral air service agreements with 41 countries. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19706', 'image' => '20240114023216_20230627040802_20220428023242_5e.jpg', 'article_date' => '2024-01-14 14:30:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19978', 'article_category_id' => '1', 'title' => 'Nepal-India IGSC meeting Stresses on Connectivity between Two Countries', 'sub_title' => '', 'summary' => 'January 14: The Nepal-India Inter-Governmental Sub-Committee (IGSC) meeting on Trade, Transit and Cooperation to Control Unauthorised Trade concluded in Kathmandu with commitment to explore avenues for strengthening connectivity between the two countries. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 14: The Nepal-India Inter-Governmental Sub-Committee (IGSC) meeting on Trade, Transit and Cooperation to Control Unauthorised Trade concluded in Kathmandu with commitment to explore avenues for strengthening connectivity between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two-day meeting held on January 12 and 13 aimed to promote bilateral cooperation and trade relations and transit by preventing unauthorised trade. Joint Secretary at the Ministry of Industry, Commerce and Supplies, Ram Chandra Tiwari headed the Nepali delegation in the meeting that was attended by representatives from various ministries and departments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint Secretary Vipul Bansal of the Ministry of Commerce and Industry of India led the Indian delegation in the meeting which witnessed the participation of representatives of the Embassy of India in Kathmandu and senior government officials from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting discussed on various agenda while also exploring ways for finding a mutual market access for medicinal and ayurvedic goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Indian side highlighted the significance of the Paris Convention to promote foreign direct investment. The meeting stressed on the need of strengthening unobstructed trans-national connectivity between Nepal and India including the establishment of an integrated customs point and the construction of a railway service between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India remains a major trading partner of Nepal. The meeting is expected to contribute to further enhancing the economic and business relations between the two countries. -- RSS</span><br /> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19705', 'image' => '20240114021203_Untitled.jpg', 'article_date' => '2024-01-14 14:11:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19977', 'article_category_id' => '1', 'title' => 'TRS Atlas gets the Responsibility of Operating Nepalgunj ICP', 'sub_title' => '', 'summary' => 'January 14: A private company has been selected to operate and manage the Nepalgunj Integrated Checkpoint (ICP), which is in the final stages of construction. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: A private company has been selected to operate and manage the Nepalgunj Integrated Checkpoint (ICP), which is in the final stages of construction. Nepal Intermodal Transport Development Committee has selected TRS Atlas Logipark Pvt Ltd for the operation of the ICP.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee called for international tenders on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">6 for the operation of the ICP. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Besides TRS Atlas, Bhatbhateni, Kathmandu and Trans Nepal Freight Services Pvt had submitted proposals to operate the ICP.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashish Gajurel, executive director of the committee, informed that they signed an agreement with TRS Atlas Logipark Pvt. Ltd. for the operation of the ICP. As per the agreement, TRS Atlas will operate the ICP for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Gajurel said that the construction of the physical infrastructure of the ICP, which is under construction with the financial and technical support of the Government of India, has been completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, the water tank, CCTV connection, networking, firefighting system etc are currently being installed at the ICP. The construction of the ICP was started on October 12, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Gajurel said that the Nepalgunj ICP was built with the aim of making Nepal's international trade more simple, orderly and convenient.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that there are eight such ICPs in the country and all of them are being operated by private sector companies selected through competitive bids. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"This has increased the standard of service. The income of the state has also increased," he claimed, adding, "Looking at the international practice, such ports are being operated through the private sector in a public private partnership (PPP) model."</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19704', 'image' => '20240114010644_1705205738.jpg', 'article_date' => '2024-01-14 13:06:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19976', 'article_category_id' => '1', 'title' => 'NEA Reconnects Electricity Lines to all Industries within Three Weeks', 'sub_title' => '', 'summary' => 'January 14: Three weeks after disconnecting electricity supply to 24 industries for non-payment of electricity dues for dedicated feeder and trunk lines, the Nepal Electricity Authority has reconnected the supply lines.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: Three weeks after disconnecting electricity supply to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries for non-payment of electricity dues for dedicated feeder and trunk lines, the Nepal Electricity Authority has reconnected the supply lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A meeting of the Council of Ministers on Tuesday formed an investigation committee to resolve the tariff dispute and directed the NEA to immediately reconnect electricity to all the industries whose lines were cut.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Four days after the cabinet decision, a meeting of the board of directors of the NEA decided to reconnect electricity to the industries whose lines were cut. Following the board’s decision, NEA reconnected electricity to all industries on Friday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Suresh Bhattarai, information officer of the NEA, informed that the work of reconnecting electricity to all the industries whose lines were cut has been completed by Friday midnight. According to him, the Council of Ministers decided to reconnect the line, so the lines were connected even though the dispute has not been resolved.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries have yet to pay Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion to the authority for using the facility of dedicated and trunk lines. Among them, Himal Steel paid the outstanding amount in installment last Monday. The NEA connected the line of Himal Steel after it paid the first installment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authority had disconnected the lines of the industries in different stages from December 22. In the first phase, the lines of Jagdamba Steel, Ghorahi Cement, Reliance Spinning Mills and Arghakhanchi Cement were cut. In the second phase, NEA cut the lines of Sonapur Minerals and Oil Ltd, Lakshmi Steel, Sarvottam Cement, Ashok Steel, and Triveni Spinning Mills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the third phase, it stopped electricity supply to Baba Jute Mill, Siddharth Cement, Triveni Synthetic, Himal Iron and Steel, Jagdamba Enterprises, Hama Iron, Everest Paper Mill, Cosmos Cement, Shubhashree Agni Cement, Jagdamba Synthetic, Gharana Foods, Narayani Spat and Butwal Cement followed by the disconnection of electricity line of Hulas Steel.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19703', 'image' => '20240114120212_1703559400.1605049113.Clipboard04.jpg', 'article_date' => '2024-01-14 12:01:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">January 15: Galli Maps won the NYEF Startup Awards during the grand finale held on January 12. The organisers said that the Galli Maps was awarded with a cash prize of Rs 400,000 for creating the most detailed map of Nepal with information of house numbers, alley and 360 degree view.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">“Our maps help business enterprises deliver their products/services at their customers' doorstep easily and accurately,” said Raj Bikram Maharjan, proprietor of Galli Express Pvt Ltd which developed the map. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">According to the organisers, there was a tie for the first runner-up position as Quickfox Consulting and PetMama Nepal shared the honours. They also shared the cash prize of Rs 200,000. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Quickfox Consulting was awarded for its advanced RPA solution that streamlines tedious, rule-based tasks for companies. According to the organisers, this solution enhances efficiency, elevates productivity, and sets higher customer service standards by eliminating manual errors and time-consuming processes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Similarly, PetMama Nepal was awarded for its one-stop pet care solution offering grooming and retail services along with a pet hotel, a pet bakery, and a dog day care service. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The top three winners were selected from among the seven finalists who pitched their ideas in front of a panel of expert judges including Sewa Pathak, CEO of Vianet Communications, Niranjan Shrestha, executive director of Laxmi Group, and Ajit Shah, CEO of Lotus Holdings. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The audience was also involved, as they got to vote for their favorites for the audience choice award. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">PetMama Nepal also bagged the Audience Choice Award, a testament to the startup that resonated most with the audience. They received a Rs 50,000 in cash prize.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Similarly, the Social Enterprise Award with a cash prize of Rs 50,000, was presented to Dursikshya Education, spearheaded by Krishna Pandey. Dursikshya is an innovative educational organization committed to advancing STEM education.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The winners were selected on the basis of their resilience, creativity, and commitment to positive change for the entrepreneurial community in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The startup award was sponsored by Sagarmatha Lumbini Insurance, NMB Bank, FNCCI, Apex College, Adex and NPEA.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19717', 'image' => '20240115034156_galli.jpg', 'article_date' => '2024-01-15 15:40:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19989', 'article_category_id' => '1', 'title' => 'Projects under ADB Loan Assistance Struggling to Meet Deadline', 'sub_title' => '', 'summary' => 'January 15: The authorities concerned are struggling to complete various sections of highways being built with the support from the Asian Development Bank (ADB) even within the extended deadline.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 15: The authorities concerned are struggling to complete various sections of highways being built with the support from the Asian Development Bank (ADB) even within the extended deadline.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Narayangadh-Butwal section of the East-West Highway, Muglin-Pokhara road section and Kanchanpur-Kamala road section are being constructed with loans from the ADB.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ADB project directorate under the Department of Roads has extended the deadline for the Narayangadh-Butwal and Kanchanpur-Kamala roads. The work of these two sections under the East-West Highway is not even half completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Chinese contractor company has expressed commitment to complete the work of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">113</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km Narayangadh-Butwal section within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months. However, despite extending the deadline twice, only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers have been blacktopped so far, while the construction of the service lanes, bridges, drains, and sub-bases is underway.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The agreement for construction of Narayangadh-Butwal road section was signed between the DoR and the Chinese company M/S China State Construction Engineering Corporation Pvt Ltd on December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2018. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the road should have been completed on August </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the project remains incomplete and the government has extended the deadline twice saying that the work was interrupted due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The deadline for upgrading the road has been extended till July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> considering the impact of coronavirus and the problems in removal of electricity poles and availability of construction materials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the latest deadline extension, there is still about seven months left for the project to compete the works related to upgrading this road section. However, project director Chudaraj Dhakal informed that the contractor company has requested for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to complete the work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the deadline of Kanchanpur-Kamala road section has also been extended due to the delay in completion of the work. The DoR had handed over the contract to M/M China Railway No </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Engineering Group on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> with an agreement to complete the project within three years from the date of signing the agreement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the work was not completed on time, the deadline was extended until December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers of this road section measuring </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">86.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers has been blacktopped. The road is supposed to be expanded into four lanes but only two lanes have been blacktopped. The extended deadline of the project will expire in about one year while the work progress is only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">41.47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the deadline for upgrading the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers long Mugling-Pokhara road section with loan assistance of ADB has not been extended.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The DoR had signed a contract agreement with a Chinese company M/S China Communication Construction Company Limited on April </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for this project</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Project Director Dhakal said that the work of this section should be completed by April </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2025</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, as per the agreement</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The deadline has not been extended in this section," Dhakal said, "However, the construction company issued a warning for slow work progress. After the department warned of terminating the contract, the contractor made a commitment with a schedule to complete all the work by December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2025</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The project directorate informed that it is yet to decide on whether or not to extend the deadline. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last Thursday, the project directorate held a press conference to inform about the progress of these roads. On the occasion, Keshav Kumar Sharma, secretary at the Ministry of Physical Infrastructure and Transport, explained the reason for the delay, arguing that Chinese construction workers could not arrive in Nepal due to lockdown in the wake of the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Apart from this, there was a problem with removal of trees and electricity poles. Also, there was no significant support from the local level,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19716', 'image' => '20240115015219_20220926014301_road.jpg', 'article_date' => '2024-01-15 13:51:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19988', 'article_category_id' => '1', 'title' => 'Water Supply from Melamchi Resumes', 'sub_title' => '', 'summary' => 'January 15: The much-awaited water distribution from Melamchi resumed in Kathmandu Valley from today. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: The much-awaited water distribution from Melamchi resumed in Kathmandu Valley from today. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal inaugurated the Melamchi water supply diversion and redistribution from the premises of the Prime Minister's Office at Singha Durbar on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Drinking Water, Suresh Acharya, said that water would be gradually distributed in Anamnagar, Minbhawan, Mahankalchaur, Rigni, Bhaktapur, Khumaltar, Balaju and Bansbari areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal had directed Minister for Drinking Water Mahendra Ray Yadav to make arrangements to bring Melamchi water to the capital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the directive of the prime minister, the Ministry of Drinking Water took the initiative to bring water by repairing the Melamchi Water Supply Project. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Water supply from Melamchi, which was disrupted due to floods and landslides, has now resumed in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Melamchi Water Supply Development Committee and construction company, Sino Hydro, had reached an agreement on December 19 to bring water from Melamchi to Kathmandu within 28 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Around 170 million litres of water is being brought to Kathmandu daily from Melamchi. The source area of the project was damaged after a flood and landslide occurred in Melamchi rivulet on June 15, 2021. Since then, the project has not been able to supply water from Melamchi on a regular basis in Kathmandu. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19715', 'image' => '20240115011423_RS_KTM_RATL67711.jpg', 'article_date' => '2024-01-15 13:08:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19987', 'article_category_id' => '1', 'title' => 'CAAN Proposes Managing Four International Airports under Public-Private Partnership Model', 'sub_title' => '', 'summary' => 'January 15: The Civil Aviation Authority of Nepal (CAAN) has decided to manage four international airports on a public-private-partnership (PPP) model.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 15: The Civil Aviation Authority of Nepal (CAAN) has decided to manage four international airports on a public-private-partnership (PPP) model.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">A meeting of the board of directors of the aviation sector regulator decided to operate and expand the three existing international airports and the proposed Nijgadh International Airport under this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">CAAN Spokesperson Jagannath Niraula informed New Business Age that the proposal in this regard has been sent to the Ministry of Culture, Tourism and Civil Aviation for further discussion and necessary action regarding the operation and expansion of Tribhuvan International Airport (TIA), Gautam Buddha International Airport (GBIA) and Pokhara Regional International Airport (PRIA) and the construction of the proposed Nijgadh International Airport.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">While unveiling the progress report after completing one year in office on December 26, Prime Minister Pushpa Kamal Dahal had announced that the government was planning to operate the international airports on the same concept. Now, the CAAN has taken concrete steps to seek partners for the operation and management of the airports under this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Tribhuvan International Airport is the first international airport of the country. Gautam Buddha International Airport was inaugurated on May 16, 2022 while the Pokhara Regional International Airport came into operation from January 1, 2023.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although there are three international airports in the country, only the TIA is fully operational while the other two are under-utilized due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As the GBIA and PRIA are still not fully operational even after one and a half years of operation, the government is planning to operate all the international airports under the PPP concept through a single package. The CAAN is hopeful that if Tribhuvan International Airport, which makes the highest income, is also included in the package, it will be able to bring in a partner for the management of the airports.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19714', 'image' => '20240115122424_1705292745.1703995104.1684223440.Airport 1.jpg', 'article_date' => '2024-01-15 12:23:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19986', 'article_category_id' => '1', 'title' => 'Prime Minister Dahal Instructs Immediate Release of Due Amount to the Contractors', 'sub_title' => '', 'summary' => 'January 15: Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to release the payment for the dues that the government owes to the contractors.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to release the payment for the dues that the government owes to the contractors.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During a discussion with the construction entrepreneurs at his office on Sunday, PM Dahal instructed the finance minister to immediately start the process of payment of the dues to the construction entrepreneurs. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Dr Prakash Sharan Mahat, Minister for Physical Infrastructure and Transport Prakash Jwala, Chief Secretary Dr Bikuntha Aryal, Finance Secretary Dr Krishna Hari Puskar, Secretary at the Ministry of Physical Infrastructure and Transport, Keshav Kumar Sharma and Director General at the Department of Roads, Sushil Babu Dhakal were also present during the discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the prime minister directed the finance minister to promptly release Rs 1.71 billion, the outstanding amount from last year, and Rs 6.30 billion in due so far in the current fiscal year, the PM's Private Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders expect development works to pick up pace and the economy to become vibrant once this amount is paid to the contractors. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19713', 'image' => '20240115115317_pm.jpg', 'article_date' => '2024-01-15 11:52:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19985', 'article_category_id' => '1', 'title' => 'Rainfall, Snow likely to Occur ', 'sub_title' => '', 'summary' => 'January 15: Eastern and central parts of Nepal will likely receive rainfall and snow today due to the impact of the westerly wind. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: Eastern and central parts of Nepal will likely receive rainfall and snow today due to the impact of the westerly wind. The Meteorological Forecasting Division under the Department of Hydrology and Meteorology said that the country is currently experiencing the influence of the westerly wind which is having partial effects in Nepal. There is also a partial influence of the low pressure system around the southern parts of Bangladesh.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As a result, there is a possibility of light rain and snowfall said the division.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be partly cloudy in the hill region today while the terai region is experiencing foggy conditions at present. The weather will be partly to generally cloudy in the hill region and mainly fair in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is likely to occur at some places of the hill and mountainous regions of Koshi, Bagmati and Gandaki provinces. Light snowfall is likely to occur at a few places in the high hills and mountainous regions of Koshi, Bagmati and Gandaki provinces and at one or two places of the high hills and mountainous regions of Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, light rainfall and light snowfall is likely to occur at one or two places of the hill and mountainous regions of Koshi, Bagmati and Gandaki provinces.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> Kathmandu recorded a minimum temperature of 5.2 degrees Celsius and a maximum temperature of 19.5 degrees Celsius today, according to the division. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-29', 'keywords' => '', 'description' => '', 'sortorder' => '19712', 'image' => '20240115111155_20231031081515_20211108051750_20190228040359_DSC_2752.jpg', 'article_date' => '2024-01-15 11:08:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19984', 'article_category_id' => '1', 'title' => 'Maghe Sankranti Being observed', 'sub_title' => '', 'summary' => 'Maghe Sankranti or Makar Sankranti is being celebrated throughout the country today. It is observed by taking holy dips in rivers and ponds, worshiping at various temples and savoring delicacies like ghee, yam, khichadi and sweets like Chaku and sweets made of sesame and molasses.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> January 15: Maghe Sankranti or Makar Sankranti is being celebrated throughout the country today. It is observed by taking holy dips in rivers and ponds, worshiping at various temples and savoring delicacies like ghee, yam, khichadi and sweets like Chaku and sweets made of sesame and molasses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In accordance with astrological chart, the Makar Sankranti has special significance- this day onwards the sun starts its ascendancy and enters into the northern hemisphere. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On this day, the sunlight moves from the tropic of Capricorn towards the tropic of Cancer. It is believed that the days get longer and nights shorter from today itself.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to ‘Bhabisya Puran’ and ‘Dharma Sindhu’, religious texts, devotees will get special blessings and will have a robust body if they observe the festival as per the rituals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Newar community observes the festival by taking ghee, Chaku and remembering the departed souls. This festival is called ‘Ghyo Chaku Sallnhu’. The seniors apply mild-hot edible oil to the heads of juniors on this day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">A large number of devotees throng Devghat, Barahchhetra, Ridi, Panauti, Dolalghat and Kankai in Nepal and Prayag and Gangasagar in India to take a holy bath and perform Shraddha.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The festival has significance in view of Ayurveda and medical science as well. Food items that are taken on this day are the sources of a balanced diet which increases the immunity power of the human body. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On this day, a festival is organized at the Tilmadhav Narayan Temple at Taumadhi Tole, Bhaktapur and puja of Deepakankar Buddha is performed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Tharu community and Magar community observe this festival as the Maghi with much fanfare and gaiety. Likewise, the people in the Terai districts mark this day as the festival of bath known as Nahan. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The government has announced public holiday to mark Maghe Sankranti/Maghi festival. (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19711', 'image' => '20240115061304_collage (12).jpg', 'article_date' => '2024-01-15 06:11:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19983', 'article_category_id' => '1', 'title' => 'World Bank Hosts Event on Hedging Strategies for Managing Risks, Sustainable Finance', 'sub_title' => '', 'summary' => 'January 14: The World Bank in coordination with the Ministry of Finance held a two-day learning event last week on “Managing Risks and Sustainable Finance”.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 14: The World Bank in coordination with the Ministry of Finance held a two-day learning event last week on “Managing Risks and Sustainable Finance”. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Sunday, the World Bank said that the event was attended by representatives from the Ministry of Finance, the Public Debt Management Office, the Financial Comptroller General Office, Nepal Rastra Bank, Nepal Bankers’ Association, Nepal Insurance Authority, Confederation of Nepalese Industries, and other financial sector professionals.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the participants discussed derivatives instruments and international experiences with the use of financial instruments to address different market risks including interest rate, currency, liquidity, and commodity price risks. They also discussed the benefits of and the critical steps needed to set up a national hedge program from a fiscal risk management perspective, added the statement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The Ministry of Finance is interested in working with the World Bank on a detailed cost-benefit study to evaluate the potential advantages of adopting a hedging mechanism to manage financial risks,” the statement quoted Ram Pramod Yadav, under secretary at the Ministry of Finance as saying. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“There is a need to implement financial instruments in new projects on a pilot basis to help practitioners and policy makers understand the significance of structure approaches in mitigating risks from uncertain market conditions.” </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Participants discussed the technical support the World Bank can provide to set up relevant knowledge exchange programs, as well as the bank’s various lending instruments.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The World Bank is committed to working with the Government of Nepal to strengthen the country’s risk management strategies and set up a hedging program to manage financial risks,” said Fabio Aparecido Da Silva, senior financial officer at the World Bank. He emphasized the need to develop a regulatory framework and build capacity to ensure that hedging strategies serve as effective tools for managing risks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“I welcome the idea of implementing hedging mechanisms to address market volatility on commercial terms, which could help prevent undue fiscal pressures on the nation,” said Bam Bahadur Mishra, deputy governor of Nepal Rastra Bank. “Endorsing market-driven solutions is key to efficiently managing financial risks, fostering sustainability, and navigating challenges, especially considering the country’s resource limitations.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Joseph Silvanus of Dolma Consulting said that the absence of sovereign ratings is a contributing factor to the high cost of borrowing for Nepal from international financiers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Leveraging the currency peg with India could address the absence of a transactable Nepali rupee sovereign bond yield curve, as many transactions can be priced based on the long-term Indian rupee-USD curve,” said Silvanus, adding, “Hedging serves as a good risk mitigating tool, and Nepal stands to gain by accessing the World Bank’s IDA window to uphold a robust balance of payments.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19710', 'image' => '20240114050737_World Bank Treasury Workshop.jpg', 'article_date' => '2024-01-14 17:04:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19982', 'article_category_id' => '1', 'title' => 'NEPSE Surges 31.62 Points Amidst Falling Interest Rates', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) displayed remarkable growth, surging by 31.62 points or 1.51%, ultimately closing at 2120.62 on the first trading day of the week on Sunday.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">January 14: The Nepal Stock Exchange (NEPSE) displayed remarkable growth, surging by 31.62 points or 1.51%, ultimately closing at 2120.62 on the first trading day of the week on Sunday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">During today’s trading session, 314 scrips were traded through 94,526 transactions. A significant volume of 16,605,234 shares changed hands, with the total turnover of Rs 5.45 billion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Nepal Reinsurance Company Limited Promoter Share (NRICP) took the lead in turnover with transactions amounting to Rs 35 crores.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In terms of performance of individual stocks, five companies including Himalayan Power Partners Limited (HPPL) and Kalika Power Company Limited (KPCL) stood out by each gaining 10% and hitting the positive circuit for the day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Conversely, Mega Mutual Fund-1 (MMF1) experienced the most significant loss, decreasing by 9.53% and closing at a market price of Rs 7.50 per share.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In terms of sector performance, all sectors, except for Hotels and Tourism Index and Trading Index, closed in positive territory. The Hydropower Index demonstrated the highest gain at 4.58%, while Nonlife Insurance saw a minimal gain of 0.01%. On the flip side, the Trading Index incurred the highest loss at 0.94%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Investors and analysts attributed the continuous rise in the stock market to declining banking interest rates. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19709', 'image' => '20240114050345_collage (19).jpg', 'article_date' => '2024-01-14 16:54:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19981', 'article_category_id' => '1', 'title' => 'NEA to Issue IPO worth Rs 60 Billion', 'sub_title' => '', 'summary' => 'January 14: Nepal Electricity Authority (NEA) is preparing to sell its ordinary shares by issuing Initial Public Offerings (IPO) worth Rs 60 billion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: Nepal Electricity Authority (NEA) is preparing to sell its ordinary shares by issuing Initial Public Offerings (IPO) worth Rs 60 billion. The state-owned NEA is one of the public institutions that is becoming financially strong in recent days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA is planning to restructure the financial structure of the organization and sell the shares to the general public in accordance with the Nepal Electricity Authority Act, 2041. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Finance has already given consent for the sale of shares. After the approval of the Finance Ministry, the Ministry of Energy, Water Resources and Irrigation is preparing to submit a proposal in this regard to the Council of Ministers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The meeting of the Board of Directors of the NEA held on December 11 took a decision to this effect. The Board of Directors of the NEA has agreed to maintain the authorized capital of Rs 300 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has decided to request approval from the Council of Ministers through the Ministry of Energy to issue shares to the general public at a premium price of up to 10 percent of the proposed authorized capital, maintaining the price per share up to twice the net worth. The decision has been submitted to the Ministry of Energy by the Executive Director of the Authority, Kulman Ghising, on January 4.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shakti Bahadur Basnet, the Minister for Energy, Water Resources and Irrigation, who is also the chairman of the Board of Directors of the NEA, said that the shares are going to be issued with the aim of making the public institution more powerful. Prior to this, the government had also sold the shares of Nepal Telecommunications to the general public.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NEA has proposed to maintain the book value of its shares at around Rs 125 and add the same amount of premium to issue shares. Therefore, the common people who want to buy shares of the NEA will have to spend Rs 250 per share.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authorized capital of the NEA at present is equal to Rs 125 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has concluded that the budget allocated by the government is insufficient to increase its capital investment. Therefore, the NEA has to raise investment through alternative sources.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NEA is preparing to use various financial tools as an alternative source for financial management. The NEA has realized the need to increase its capital through ordinary shares, corporate bonds, debentures, green bonds, etc.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has pledged to use the funds raised by issuing shares to the general public as a long-term investment in construction of reservoir projects, expansion and strengthening of transmission and distribution lines. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19708', 'image' => '20240114031804_NEA update.jpg', 'article_date' => '2024-01-14 15:17:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19980', 'article_category_id' => '1', 'title' => 'Government Fails to Manage Problematic Cooperatives', 'sub_title' => '', 'summary' => 'January 14: The government has failed to manage problematic cooperatives.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: The government has failed to manage problematic cooperatives. Although the government formed a problematic cooperative management committee six years ago for the management of organizations that could not return the depositor’s money, it has not been able to distribute the assets and liabilities even in a single case.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a provision in the Cooperatives Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">that that allows the Ministry of Land Management, Cooperatives and Poverty Alleviation to declare a cooperative as problematic upon the recommendation of the Registrar of the Department of Cooperatives. Following the declaration, there is a provision in the law for the committee to investigate the organization's assets and liabilities and settle the arrears.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this arrangement, the Federal Government formed the 'Problem Cooperative Management Committee' on January 13, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, the government has declared </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> institutions as problematic and assigned the responsibility to the committee to settle the issue, but none of the institutions have been held fully accountable.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to member secretary of the committee, Keshav Prasad Paudel, the embezzled amount of the depositors of Kuber Savings and Loan Cooperative and Standard Multipurpose Cooperative has been returned to the depositors as of the last fiscal year but the authorities are yet to recover the loans given by both the organizations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the government declared Oriental Cooperative as problematic for the first time. However, Oriental Cooperative moved the court and won the case, the government could not settle its arrears. In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Oriental was once again declared problematic by the ministry and handed over to the committee for financial management. The problem of Oriental Cooperative has not been resolved even in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A commission formed by the government to study the problematic cooperatives had suggested to solve the problems of the cooperatives by forming a management committee. According to the suggestion of the commission headed by Gauri Bahadur Karki, the government incorporated the provision for the formation of the committee in the Cooperatives Act itself. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government made Karki the first chairman of the committee. However, due to the change of government, he could not work for a long time. Then Yuvraj Subedi and Kumar Prasad Pokharel led the committee. Kashinath Dahal has been the chairman of the committee for two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Cooperative Act, there is a provision that the chairman of the seven-member management committee should be a judge of the High Court or a person with similar qualifications. Similarly, there is a legal provision that among the members should be one person who has worked at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th level in the civil service, one person who has worked at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th level in a bank and financial institution or a chartered accountant, one member appointed by the Cooperative Federation and one member secretary of a gazetted second class government employee.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sudarshan Prasad Dhakal, an expert on cooperatives, says that the management model of troubled cooperatives is flawed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is a provision for the government to announce a cooperative as problematic and hand over its responsibility to the committee after the cooperative becomes problematic," he said, adding, "This provision is not helpful in solving the problems of the cooperatives."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee has also suggested the government to freeze the assets of the organization and its directors before declaring the organization problematic. A member of the committee said that by the time the committee takes over the problematic cooperatives, the organisations will already have sold all the property and the director hides the property, and even the documents of the organization are already lost. So, it is difficult to work. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It is the responsibility of the government and the depositors to protect the assets of the organization before it is handed over to the committee," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19707', 'image' => '20240114031656_cooperative problematic.jpg', 'article_date' => '2024-01-14 15:16:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19979', 'article_category_id' => '1', 'title' => 'TIA Records Highest Ever Number of International Air Passengers in 2023', 'sub_title' => '', 'summary' => 'January 14: The number of air passengers has increased at the Tribhuvan International Airport. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 14: The number of air passengers has increased at the Tribhuvan International Airport. According to the airport, a total of 86,91,443 passengers used the airport in 2023 for both domestic and international flights. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the airport, 45,41,137 passengers used this airport for international flights during last year, which is 30.18 percent more than the previous year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The airport’s General Manager Pratap Babu Tiwari informed that this number is the highest ever in history of TIA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In 2022, a total of 79,54,495 people used the airport services. According to the airport, the total passenger flow (domestic and international) has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Before the onset of coronavirus, altogether 71,90,912 passengers used this airport in 2018 and 73,27,031 passengers used this airport in 2019.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In 2023, the number of international flights also increased to 31,460 which is 29.40 percent more compared to the previous year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, the airport recorded cargo movement of 22,946 tons, which is more than that of the previous year by 13.98 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The number of domestic air travelers stood at 41,50,326 in the review year, which is 7.07 percent less than the previous year. During this period, 96,989 domestic flights took place from the airport. The number of flights also decreased by 10.87 percent compared to last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">General Manager Tiwari said that inland cargo arrivals increased by 10.36 percent to 3,426,861 tons compared to last year. According to him, currently nine airline companies and 12 helicopter companies are operating domestically at Tribhuvan International Airport, while 30 airlines including 3 Nepali airlines are serving 31 destinations in 16 countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Nepal has bilateral air service agreements with 41 countries. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19706', 'image' => '20240114023216_20230627040802_20220428023242_5e.jpg', 'article_date' => '2024-01-14 14:30:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19978', 'article_category_id' => '1', 'title' => 'Nepal-India IGSC meeting Stresses on Connectivity between Two Countries', 'sub_title' => '', 'summary' => 'January 14: The Nepal-India Inter-Governmental Sub-Committee (IGSC) meeting on Trade, Transit and Cooperation to Control Unauthorised Trade concluded in Kathmandu with commitment to explore avenues for strengthening connectivity between the two countries. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 14: The Nepal-India Inter-Governmental Sub-Committee (IGSC) meeting on Trade, Transit and Cooperation to Control Unauthorised Trade concluded in Kathmandu with commitment to explore avenues for strengthening connectivity between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two-day meeting held on January 12 and 13 aimed to promote bilateral cooperation and trade relations and transit by preventing unauthorised trade. Joint Secretary at the Ministry of Industry, Commerce and Supplies, Ram Chandra Tiwari headed the Nepali delegation in the meeting that was attended by representatives from various ministries and departments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint Secretary Vipul Bansal of the Ministry of Commerce and Industry of India led the Indian delegation in the meeting which witnessed the participation of representatives of the Embassy of India in Kathmandu and senior government officials from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting discussed on various agenda while also exploring ways for finding a mutual market access for medicinal and ayurvedic goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Indian side highlighted the significance of the Paris Convention to promote foreign direct investment. The meeting stressed on the need of strengthening unobstructed trans-national connectivity between Nepal and India including the establishment of an integrated customs point and the construction of a railway service between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India remains a major trading partner of Nepal. The meeting is expected to contribute to further enhancing the economic and business relations between the two countries. -- RSS</span><br /> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19705', 'image' => '20240114021203_Untitled.jpg', 'article_date' => '2024-01-14 14:11:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19977', 'article_category_id' => '1', 'title' => 'TRS Atlas gets the Responsibility of Operating Nepalgunj ICP', 'sub_title' => '', 'summary' => 'January 14: A private company has been selected to operate and manage the Nepalgunj Integrated Checkpoint (ICP), which is in the final stages of construction. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: A private company has been selected to operate and manage the Nepalgunj Integrated Checkpoint (ICP), which is in the final stages of construction. Nepal Intermodal Transport Development Committee has selected TRS Atlas Logipark Pvt Ltd for the operation of the ICP.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee called for international tenders on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">6 for the operation of the ICP. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Besides TRS Atlas, Bhatbhateni, Kathmandu and Trans Nepal Freight Services Pvt had submitted proposals to operate the ICP.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashish Gajurel, executive director of the committee, informed that they signed an agreement with TRS Atlas Logipark Pvt. Ltd. for the operation of the ICP. As per the agreement, TRS Atlas will operate the ICP for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Gajurel said that the construction of the physical infrastructure of the ICP, which is under construction with the financial and technical support of the Government of India, has been completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, the water tank, CCTV connection, networking, firefighting system etc are currently being installed at the ICP. The construction of the ICP was started on October 12, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Gajurel said that the Nepalgunj ICP was built with the aim of making Nepal's international trade more simple, orderly and convenient.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that there are eight such ICPs in the country and all of them are being operated by private sector companies selected through competitive bids. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"This has increased the standard of service. The income of the state has also increased," he claimed, adding, "Looking at the international practice, such ports are being operated through the private sector in a public private partnership (PPP) model."</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19704', 'image' => '20240114010644_1705205738.jpg', 'article_date' => '2024-01-14 13:06:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19976', 'article_category_id' => '1', 'title' => 'NEA Reconnects Electricity Lines to all Industries within Three Weeks', 'sub_title' => '', 'summary' => 'January 14: Three weeks after disconnecting electricity supply to 24 industries for non-payment of electricity dues for dedicated feeder and trunk lines, the Nepal Electricity Authority has reconnected the supply lines.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: Three weeks after disconnecting electricity supply to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries for non-payment of electricity dues for dedicated feeder and trunk lines, the Nepal Electricity Authority has reconnected the supply lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A meeting of the Council of Ministers on Tuesday formed an investigation committee to resolve the tariff dispute and directed the NEA to immediately reconnect electricity to all the industries whose lines were cut.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Four days after the cabinet decision, a meeting of the board of directors of the NEA decided to reconnect electricity to the industries whose lines were cut. Following the board’s decision, NEA reconnected electricity to all industries on Friday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Suresh Bhattarai, information officer of the NEA, informed that the work of reconnecting electricity to all the industries whose lines were cut has been completed by Friday midnight. According to him, the Council of Ministers decided to reconnect the line, so the lines were connected even though the dispute has not been resolved.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries have yet to pay Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion to the authority for using the facility of dedicated and trunk lines. Among them, Himal Steel paid the outstanding amount in installment last Monday. The NEA connected the line of Himal Steel after it paid the first installment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authority had disconnected the lines of the industries in different stages from December 22. In the first phase, the lines of Jagdamba Steel, Ghorahi Cement, Reliance Spinning Mills and Arghakhanchi Cement were cut. In the second phase, NEA cut the lines of Sonapur Minerals and Oil Ltd, Lakshmi Steel, Sarvottam Cement, Ashok Steel, and Triveni Spinning Mills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the third phase, it stopped electricity supply to Baba Jute Mill, Siddharth Cement, Triveni Synthetic, Himal Iron and Steel, Jagdamba Enterprises, Hama Iron, Everest Paper Mill, Cosmos Cement, Shubhashree Agni Cement, Jagdamba Synthetic, Gharana Foods, Narayani Spat and Butwal Cement followed by the disconnection of electricity line of Hulas Steel.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19703', 'image' => '20240114120212_1703559400.1605049113.Clipboard04.jpg', 'article_date' => '2024-01-14 12:01:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">January 15: Galli Maps won the NYEF Startup Awards during the grand finale held on January 12. The organisers said that the Galli Maps was awarded with a cash prize of Rs 400,000 for creating the most detailed map of Nepal with information of house numbers, alley and 360 degree view.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">“Our maps help business enterprises deliver their products/services at their customers' doorstep easily and accurately,” said Raj Bikram Maharjan, proprietor of Galli Express Pvt Ltd which developed the map. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">According to the organisers, there was a tie for the first runner-up position as Quickfox Consulting and PetMama Nepal shared the honours. They also shared the cash prize of Rs 200,000. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Quickfox Consulting was awarded for its advanced RPA solution that streamlines tedious, rule-based tasks for companies. According to the organisers, this solution enhances efficiency, elevates productivity, and sets higher customer service standards by eliminating manual errors and time-consuming processes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Similarly, PetMama Nepal was awarded for its one-stop pet care solution offering grooming and retail services along with a pet hotel, a pet bakery, and a dog day care service. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The top three winners were selected from among the seven finalists who pitched their ideas in front of a panel of expert judges including Sewa Pathak, CEO of Vianet Communications, Niranjan Shrestha, executive director of Laxmi Group, and Ajit Shah, CEO of Lotus Holdings. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The audience was also involved, as they got to vote for their favorites for the audience choice award. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">PetMama Nepal also bagged the Audience Choice Award, a testament to the startup that resonated most with the audience. They received a Rs 50,000 in cash prize.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">Similarly, the Social Enterprise Award with a cash prize of Rs 50,000, was presented to Dursikshya Education, spearheaded by Krishna Pandey. Dursikshya is an innovative educational organization committed to advancing STEM education.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The winners were selected on the basis of their resilience, creativity, and commitment to positive change for the entrepreneurial community in Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:14.0pt">The startup award was sponsored by Sagarmatha Lumbini Insurance, NMB Bank, FNCCI, Apex College, Adex and NPEA.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19717', 'image' => '20240115034156_galli.jpg', 'article_date' => '2024-01-15 15:40:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19989', 'article_category_id' => '1', 'title' => 'Projects under ADB Loan Assistance Struggling to Meet Deadline', 'sub_title' => '', 'summary' => 'January 15: The authorities concerned are struggling to complete various sections of highways being built with the support from the Asian Development Bank (ADB) even within the extended deadline.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 15: The authorities concerned are struggling to complete various sections of highways being built with the support from the Asian Development Bank (ADB) even within the extended deadline.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Narayangadh-Butwal section of the East-West Highway, Muglin-Pokhara road section and Kanchanpur-Kamala road section are being constructed with loans from the ADB.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ADB project directorate under the Department of Roads has extended the deadline for the Narayangadh-Butwal and Kanchanpur-Kamala roads. The work of these two sections under the East-West Highway is not even half completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Chinese contractor company has expressed commitment to complete the work of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">113</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km Narayangadh-Butwal section within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months. However, despite extending the deadline twice, only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers have been blacktopped so far, while the construction of the service lanes, bridges, drains, and sub-bases is underway.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The agreement for construction of Narayangadh-Butwal road section was signed between the DoR and the Chinese company M/S China State Construction Engineering Corporation Pvt Ltd on December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2018. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the road should have been completed on August </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the project remains incomplete and the government has extended the deadline twice saying that the work was interrupted due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The deadline for upgrading the road has been extended till July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> considering the impact of coronavirus and the problems in removal of electricity poles and availability of construction materials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the latest deadline extension, there is still about seven months left for the project to compete the works related to upgrading this road section. However, project director Chudaraj Dhakal informed that the contractor company has requested for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to complete the work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the deadline of Kanchanpur-Kamala road section has also been extended due to the delay in completion of the work. The DoR had handed over the contract to M/M China Railway No </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Engineering Group on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> with an agreement to complete the project within three years from the date of signing the agreement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the work was not completed on time, the deadline was extended until December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2024. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers of this road section measuring </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">86.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers has been blacktopped. The road is supposed to be expanded into four lanes but only two lanes have been blacktopped. The extended deadline of the project will expire in about one year while the work progress is only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">41.47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the deadline for upgrading the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers long Mugling-Pokhara road section with loan assistance of ADB has not been extended.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The DoR had signed a contract agreement with a Chinese company M/S China Communication Construction Company Limited on April </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for this project</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Project Director Dhakal said that the work of this section should be completed by April </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2025</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, as per the agreement</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The deadline has not been extended in this section," Dhakal said, "However, the construction company issued a warning for slow work progress. After the department warned of terminating the contract, the contractor made a commitment with a schedule to complete all the work by December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2025</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The project directorate informed that it is yet to decide on whether or not to extend the deadline. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last Thursday, the project directorate held a press conference to inform about the progress of these roads. On the occasion, Keshav Kumar Sharma, secretary at the Ministry of Physical Infrastructure and Transport, explained the reason for the delay, arguing that Chinese construction workers could not arrive in Nepal due to lockdown in the wake of the coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Apart from this, there was a problem with removal of trees and electricity poles. Also, there was no significant support from the local level,” he said. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19716', 'image' => '20240115015219_20220926014301_road.jpg', 'article_date' => '2024-01-15 13:51:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19988', 'article_category_id' => '1', 'title' => 'Water Supply from Melamchi Resumes', 'sub_title' => '', 'summary' => 'January 15: The much-awaited water distribution from Melamchi resumed in Kathmandu Valley from today. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: The much-awaited water distribution from Melamchi resumed in Kathmandu Valley from today. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal inaugurated the Melamchi water supply diversion and redistribution from the premises of the Prime Minister's Office at Singha Durbar on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Drinking Water, Suresh Acharya, said that water would be gradually distributed in Anamnagar, Minbhawan, Mahankalchaur, Rigni, Bhaktapur, Khumaltar, Balaju and Bansbari areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal had directed Minister for Drinking Water Mahendra Ray Yadav to make arrangements to bring Melamchi water to the capital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the directive of the prime minister, the Ministry of Drinking Water took the initiative to bring water by repairing the Melamchi Water Supply Project. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Water supply from Melamchi, which was disrupted due to floods and landslides, has now resumed in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Melamchi Water Supply Development Committee and construction company, Sino Hydro, had reached an agreement on December 19 to bring water from Melamchi to Kathmandu within 28 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Around 170 million litres of water is being brought to Kathmandu daily from Melamchi. The source area of the project was damaged after a flood and landslide occurred in Melamchi rivulet on June 15, 2021. Since then, the project has not been able to supply water from Melamchi on a regular basis in Kathmandu. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19715', 'image' => '20240115011423_RS_KTM_RATL67711.jpg', 'article_date' => '2024-01-15 13:08:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19987', 'article_category_id' => '1', 'title' => 'CAAN Proposes Managing Four International Airports under Public-Private Partnership Model', 'sub_title' => '', 'summary' => 'January 15: The Civil Aviation Authority of Nepal (CAAN) has decided to manage four international airports on a public-private-partnership (PPP) model.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 15: The Civil Aviation Authority of Nepal (CAAN) has decided to manage four international airports on a public-private-partnership (PPP) model.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">A meeting of the board of directors of the aviation sector regulator decided to operate and expand the three existing international airports and the proposed Nijgadh International Airport under this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">CAAN Spokesperson Jagannath Niraula informed New Business Age that the proposal in this regard has been sent to the Ministry of Culture, Tourism and Civil Aviation for further discussion and necessary action regarding the operation and expansion of Tribhuvan International Airport (TIA), Gautam Buddha International Airport (GBIA) and Pokhara Regional International Airport (PRIA) and the construction of the proposed Nijgadh International Airport.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">While unveiling the progress report after completing one year in office on December 26, Prime Minister Pushpa Kamal Dahal had announced that the government was planning to operate the international airports on the same concept. Now, the CAAN has taken concrete steps to seek partners for the operation and management of the airports under this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Tribhuvan International Airport is the first international airport of the country. Gautam Buddha International Airport was inaugurated on May 16, 2022 while the Pokhara Regional International Airport came into operation from January 1, 2023.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although there are three international airports in the country, only the TIA is fully operational while the other two are under-utilized due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As the GBIA and PRIA are still not fully operational even after one and a half years of operation, the government is planning to operate all the international airports under the PPP concept through a single package. The CAAN is hopeful that if Tribhuvan International Airport, which makes the highest income, is also included in the package, it will be able to bring in a partner for the management of the airports.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19714', 'image' => '20240115122424_1705292745.1703995104.1684223440.Airport 1.jpg', 'article_date' => '2024-01-15 12:23:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19986', 'article_category_id' => '1', 'title' => 'Prime Minister Dahal Instructs Immediate Release of Due Amount to the Contractors', 'sub_title' => '', 'summary' => 'January 15: Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to release the payment for the dues that the government owes to the contractors.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to release the payment for the dues that the government owes to the contractors.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During a discussion with the construction entrepreneurs at his office on Sunday, PM Dahal instructed the finance minister to immediately start the process of payment of the dues to the construction entrepreneurs. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Dr Prakash Sharan Mahat, Minister for Physical Infrastructure and Transport Prakash Jwala, Chief Secretary Dr Bikuntha Aryal, Finance Secretary Dr Krishna Hari Puskar, Secretary at the Ministry of Physical Infrastructure and Transport, Keshav Kumar Sharma and Director General at the Department of Roads, Sushil Babu Dhakal were also present during the discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the prime minister directed the finance minister to promptly release Rs 1.71 billion, the outstanding amount from last year, and Rs 6.30 billion in due so far in the current fiscal year, the PM's Private Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders expect development works to pick up pace and the economy to become vibrant once this amount is paid to the contractors. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19713', 'image' => '20240115115317_pm.jpg', 'article_date' => '2024-01-15 11:52:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19985', 'article_category_id' => '1', 'title' => 'Rainfall, Snow likely to Occur ', 'sub_title' => '', 'summary' => 'January 15: Eastern and central parts of Nepal will likely receive rainfall and snow today due to the impact of the westerly wind. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 15: Eastern and central parts of Nepal will likely receive rainfall and snow today due to the impact of the westerly wind. The Meteorological Forecasting Division under the Department of Hydrology and Meteorology said that the country is currently experiencing the influence of the westerly wind which is having partial effects in Nepal. There is also a partial influence of the low pressure system around the southern parts of Bangladesh.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As a result, there is a possibility of light rain and snowfall said the division.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be partly cloudy in the hill region today while the terai region is experiencing foggy conditions at present. The weather will be partly to generally cloudy in the hill region and mainly fair in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is likely to occur at some places of the hill and mountainous regions of Koshi, Bagmati and Gandaki provinces. Light snowfall is likely to occur at a few places in the high hills and mountainous regions of Koshi, Bagmati and Gandaki provinces and at one or two places of the high hills and mountainous regions of Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, light rainfall and light snowfall is likely to occur at one or two places of the hill and mountainous regions of Koshi, Bagmati and Gandaki provinces.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> Kathmandu recorded a minimum temperature of 5.2 degrees Celsius and a maximum temperature of 19.5 degrees Celsius today, according to the division. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-29', 'keywords' => '', 'description' => '', 'sortorder' => '19712', 'image' => '20240115111155_20231031081515_20211108051750_20190228040359_DSC_2752.jpg', 'article_date' => '2024-01-15 11:08:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19984', 'article_category_id' => '1', 'title' => 'Maghe Sankranti Being observed', 'sub_title' => '', 'summary' => 'Maghe Sankranti or Makar Sankranti is being celebrated throughout the country today. It is observed by taking holy dips in rivers and ponds, worshiping at various temples and savoring delicacies like ghee, yam, khichadi and sweets like Chaku and sweets made of sesame and molasses.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> January 15: Maghe Sankranti or Makar Sankranti is being celebrated throughout the country today. It is observed by taking holy dips in rivers and ponds, worshiping at various temples and savoring delicacies like ghee, yam, khichadi and sweets like Chaku and sweets made of sesame and molasses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In accordance with astrological chart, the Makar Sankranti has special significance- this day onwards the sun starts its ascendancy and enters into the northern hemisphere. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On this day, the sunlight moves from the tropic of Capricorn towards the tropic of Cancer. It is believed that the days get longer and nights shorter from today itself.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to ‘Bhabisya Puran’ and ‘Dharma Sindhu’, religious texts, devotees will get special blessings and will have a robust body if they observe the festival as per the rituals. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Newar community observes the festival by taking ghee, Chaku and remembering the departed souls. This festival is called ‘Ghyo Chaku Sallnhu’. The seniors apply mild-hot edible oil to the heads of juniors on this day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">A large number of devotees throng Devghat, Barahchhetra, Ridi, Panauti, Dolalghat and Kankai in Nepal and Prayag and Gangasagar in India to take a holy bath and perform Shraddha.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The festival has significance in view of Ayurveda and medical science as well. Food items that are taken on this day are the sources of a balanced diet which increases the immunity power of the human body. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On this day, a festival is organized at the Tilmadhav Narayan Temple at Taumadhi Tole, Bhaktapur and puja of Deepakankar Buddha is performed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Tharu community and Magar community observe this festival as the Maghi with much fanfare and gaiety. Likewise, the people in the Terai districts mark this day as the festival of bath known as Nahan. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The government has announced public holiday to mark Maghe Sankranti/Maghi festival. (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-01-15', 'modified' => '2024-01-15', 'keywords' => '', 'description' => '', 'sortorder' => '19711', 'image' => '20240115061304_collage (12).jpg', 'article_date' => '2024-01-15 06:11:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19983', 'article_category_id' => '1', 'title' => 'World Bank Hosts Event on Hedging Strategies for Managing Risks, Sustainable Finance', 'sub_title' => '', 'summary' => 'January 14: The World Bank in coordination with the Ministry of Finance held a two-day learning event last week on “Managing Risks and Sustainable Finance”.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">January 14: The World Bank in coordination with the Ministry of Finance held a two-day learning event last week on “Managing Risks and Sustainable Finance”. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Sunday, the World Bank said that the event was attended by representatives from the Ministry of Finance, the Public Debt Management Office, the Financial Comptroller General Office, Nepal Rastra Bank, Nepal Bankers’ Association, Nepal Insurance Authority, Confederation of Nepalese Industries, and other financial sector professionals.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the participants discussed derivatives instruments and international experiences with the use of financial instruments to address different market risks including interest rate, currency, liquidity, and commodity price risks. They also discussed the benefits of and the critical steps needed to set up a national hedge program from a fiscal risk management perspective, added the statement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The Ministry of Finance is interested in working with the World Bank on a detailed cost-benefit study to evaluate the potential advantages of adopting a hedging mechanism to manage financial risks,” the statement quoted Ram Pramod Yadav, under secretary at the Ministry of Finance as saying. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“There is a need to implement financial instruments in new projects on a pilot basis to help practitioners and policy makers understand the significance of structure approaches in mitigating risks from uncertain market conditions.” </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Participants discussed the technical support the World Bank can provide to set up relevant knowledge exchange programs, as well as the bank’s various lending instruments.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The World Bank is committed to working with the Government of Nepal to strengthen the country’s risk management strategies and set up a hedging program to manage financial risks,” said Fabio Aparecido Da Silva, senior financial officer at the World Bank. He emphasized the need to develop a regulatory framework and build capacity to ensure that hedging strategies serve as effective tools for managing risks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“I welcome the idea of implementing hedging mechanisms to address market volatility on commercial terms, which could help prevent undue fiscal pressures on the nation,” said Bam Bahadur Mishra, deputy governor of Nepal Rastra Bank. “Endorsing market-driven solutions is key to efficiently managing financial risks, fostering sustainability, and navigating challenges, especially considering the country’s resource limitations.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Joseph Silvanus of Dolma Consulting said that the absence of sovereign ratings is a contributing factor to the high cost of borrowing for Nepal from international financiers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Leveraging the currency peg with India could address the absence of a transactable Nepali rupee sovereign bond yield curve, as many transactions can be priced based on the long-term Indian rupee-USD curve,” said Silvanus, adding, “Hedging serves as a good risk mitigating tool, and Nepal stands to gain by accessing the World Bank’s IDA window to uphold a robust balance of payments.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19710', 'image' => '20240114050737_World Bank Treasury Workshop.jpg', 'article_date' => '2024-01-14 17:04:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19982', 'article_category_id' => '1', 'title' => 'NEPSE Surges 31.62 Points Amidst Falling Interest Rates', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) displayed remarkable growth, surging by 31.62 points or 1.51%, ultimately closing at 2120.62 on the first trading day of the week on Sunday.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">January 14: The Nepal Stock Exchange (NEPSE) displayed remarkable growth, surging by 31.62 points or 1.51%, ultimately closing at 2120.62 on the first trading day of the week on Sunday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">During today’s trading session, 314 scrips were traded through 94,526 transactions. A significant volume of 16,605,234 shares changed hands, with the total turnover of Rs 5.45 billion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Nepal Reinsurance Company Limited Promoter Share (NRICP) took the lead in turnover with transactions amounting to Rs 35 crores.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In terms of performance of individual stocks, five companies including Himalayan Power Partners Limited (HPPL) and Kalika Power Company Limited (KPCL) stood out by each gaining 10% and hitting the positive circuit for the day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Conversely, Mega Mutual Fund-1 (MMF1) experienced the most significant loss, decreasing by 9.53% and closing at a market price of Rs 7.50 per share.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">In terms of sector performance, all sectors, except for Hotels and Tourism Index and Trading Index, closed in positive territory. The Hydropower Index demonstrated the highest gain at 4.58%, while Nonlife Insurance saw a minimal gain of 0.01%. On the flip side, the Trading Index incurred the highest loss at 0.94%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Investors and analysts attributed the continuous rise in the stock market to declining banking interest rates. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19709', 'image' => '20240114050345_collage (19).jpg', 'article_date' => '2024-01-14 16:54:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19981', 'article_category_id' => '1', 'title' => 'NEA to Issue IPO worth Rs 60 Billion', 'sub_title' => '', 'summary' => 'January 14: Nepal Electricity Authority (NEA) is preparing to sell its ordinary shares by issuing Initial Public Offerings (IPO) worth Rs 60 billion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: Nepal Electricity Authority (NEA) is preparing to sell its ordinary shares by issuing Initial Public Offerings (IPO) worth Rs 60 billion. The state-owned NEA is one of the public institutions that is becoming financially strong in recent days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA is planning to restructure the financial structure of the organization and sell the shares to the general public in accordance with the Nepal Electricity Authority Act, 2041. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Finance has already given consent for the sale of shares. After the approval of the Finance Ministry, the Ministry of Energy, Water Resources and Irrigation is preparing to submit a proposal in this regard to the Council of Ministers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The meeting of the Board of Directors of the NEA held on December 11 took a decision to this effect. The Board of Directors of the NEA has agreed to maintain the authorized capital of Rs 300 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has decided to request approval from the Council of Ministers through the Ministry of Energy to issue shares to the general public at a premium price of up to 10 percent of the proposed authorized capital, maintaining the price per share up to twice the net worth. The decision has been submitted to the Ministry of Energy by the Executive Director of the Authority, Kulman Ghising, on January 4.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shakti Bahadur Basnet, the Minister for Energy, Water Resources and Irrigation, who is also the chairman of the Board of Directors of the NEA, said that the shares are going to be issued with the aim of making the public institution more powerful. Prior to this, the government had also sold the shares of Nepal Telecommunications to the general public.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NEA has proposed to maintain the book value of its shares at around Rs 125 and add the same amount of premium to issue shares. Therefore, the common people who want to buy shares of the NEA will have to spend Rs 250 per share.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authorized capital of the NEA at present is equal to Rs 125 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has concluded that the budget allocated by the government is insufficient to increase its capital investment. Therefore, the NEA has to raise investment through alternative sources.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NEA is preparing to use various financial tools as an alternative source for financial management. The NEA has realized the need to increase its capital through ordinary shares, corporate bonds, debentures, green bonds, etc.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NEA has pledged to use the funds raised by issuing shares to the general public as a long-term investment in construction of reservoir projects, expansion and strengthening of transmission and distribution lines. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19708', 'image' => '20240114031804_NEA update.jpg', 'article_date' => '2024-01-14 15:17:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19980', 'article_category_id' => '1', 'title' => 'Government Fails to Manage Problematic Cooperatives', 'sub_title' => '', 'summary' => 'January 14: The government has failed to manage problematic cooperatives.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: The government has failed to manage problematic cooperatives. Although the government formed a problematic cooperative management committee six years ago for the management of organizations that could not return the depositor’s money, it has not been able to distribute the assets and liabilities even in a single case.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a provision in the Cooperatives Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">that that allows the Ministry of Land Management, Cooperatives and Poverty Alleviation to declare a cooperative as problematic upon the recommendation of the Registrar of the Department of Cooperatives. Following the declaration, there is a provision in the law for the committee to investigate the organization's assets and liabilities and settle the arrears.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this arrangement, the Federal Government formed the 'Problem Cooperative Management Committee' on January 13, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, the government has declared </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> institutions as problematic and assigned the responsibility to the committee to settle the issue, but none of the institutions have been held fully accountable.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to member secretary of the committee, Keshav Prasad Paudel, the embezzled amount of the depositors of Kuber Savings and Loan Cooperative and Standard Multipurpose Cooperative has been returned to the depositors as of the last fiscal year but the authorities are yet to recover the loans given by both the organizations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the government declared Oriental Cooperative as problematic for the first time. However, Oriental Cooperative moved the court and won the case, the government could not settle its arrears. In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Oriental was once again declared problematic by the ministry and handed over to the committee for financial management. The problem of Oriental Cooperative has not been resolved even in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A commission formed by the government to study the problematic cooperatives had suggested to solve the problems of the cooperatives by forming a management committee. According to the suggestion of the commission headed by Gauri Bahadur Karki, the government incorporated the provision for the formation of the committee in the Cooperatives Act itself. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government made Karki the first chairman of the committee. However, due to the change of government, he could not work for a long time. Then Yuvraj Subedi and Kumar Prasad Pokharel led the committee. Kashinath Dahal has been the chairman of the committee for two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Cooperative Act, there is a provision that the chairman of the seven-member management committee should be a judge of the High Court or a person with similar qualifications. Similarly, there is a legal provision that among the members should be one person who has worked at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th level in the civil service, one person who has worked at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th level in a bank and financial institution or a chartered accountant, one member appointed by the Cooperative Federation and one member secretary of a gazetted second class government employee.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sudarshan Prasad Dhakal, an expert on cooperatives, says that the management model of troubled cooperatives is flawed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is a provision for the government to announce a cooperative as problematic and hand over its responsibility to the committee after the cooperative becomes problematic," he said, adding, "This provision is not helpful in solving the problems of the cooperatives."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee has also suggested the government to freeze the assets of the organization and its directors before declaring the organization problematic. A member of the committee said that by the time the committee takes over the problematic cooperatives, the organisations will already have sold all the property and the director hides the property, and even the documents of the organization are already lost. So, it is difficult to work. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It is the responsibility of the government and the depositors to protect the assets of the organization before it is handed over to the committee," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19707', 'image' => '20240114031656_cooperative problematic.jpg', 'article_date' => '2024-01-14 15:16:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19979', 'article_category_id' => '1', 'title' => 'TIA Records Highest Ever Number of International Air Passengers in 2023', 'sub_title' => '', 'summary' => 'January 14: The number of air passengers has increased at the Tribhuvan International Airport. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">January 14: The number of air passengers has increased at the Tribhuvan International Airport. According to the airport, a total of 86,91,443 passengers used the airport in 2023 for both domestic and international flights. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the airport, 45,41,137 passengers used this airport for international flights during last year, which is 30.18 percent more than the previous year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The airport’s General Manager Pratap Babu Tiwari informed that this number is the highest ever in history of TIA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In 2022, a total of 79,54,495 people used the airport services. According to the airport, the total passenger flow (domestic and international) has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Before the onset of coronavirus, altogether 71,90,912 passengers used this airport in 2018 and 73,27,031 passengers used this airport in 2019.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In 2023, the number of international flights also increased to 31,460 which is 29.40 percent more compared to the previous year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, the airport recorded cargo movement of 22,946 tons, which is more than that of the previous year by 13.98 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The number of domestic air travelers stood at 41,50,326 in the review year, which is 7.07 percent less than the previous year. During this period, 96,989 domestic flights took place from the airport. The number of flights also decreased by 10.87 percent compared to last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">General Manager Tiwari said that inland cargo arrivals increased by 10.36 percent to 3,426,861 tons compared to last year. According to him, currently nine airline companies and 12 helicopter companies are operating domestically at Tribhuvan International Airport, while 30 airlines including 3 Nepali airlines are serving 31 destinations in 16 countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Nepal has bilateral air service agreements with 41 countries. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19706', 'image' => '20240114023216_20230627040802_20220428023242_5e.jpg', 'article_date' => '2024-01-14 14:30:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19978', 'article_category_id' => '1', 'title' => 'Nepal-India IGSC meeting Stresses on Connectivity between Two Countries', 'sub_title' => '', 'summary' => 'January 14: The Nepal-India Inter-Governmental Sub-Committee (IGSC) meeting on Trade, Transit and Cooperation to Control Unauthorised Trade concluded in Kathmandu with commitment to explore avenues for strengthening connectivity between the two countries. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 14: The Nepal-India Inter-Governmental Sub-Committee (IGSC) meeting on Trade, Transit and Cooperation to Control Unauthorised Trade concluded in Kathmandu with commitment to explore avenues for strengthening connectivity between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two-day meeting held on January 12 and 13 aimed to promote bilateral cooperation and trade relations and transit by preventing unauthorised trade. Joint Secretary at the Ministry of Industry, Commerce and Supplies, Ram Chandra Tiwari headed the Nepali delegation in the meeting that was attended by representatives from various ministries and departments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint Secretary Vipul Bansal of the Ministry of Commerce and Industry of India led the Indian delegation in the meeting which witnessed the participation of representatives of the Embassy of India in Kathmandu and senior government officials from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting discussed on various agenda while also exploring ways for finding a mutual market access for medicinal and ayurvedic goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Indian side highlighted the significance of the Paris Convention to promote foreign direct investment. The meeting stressed on the need of strengthening unobstructed trans-national connectivity between Nepal and India including the establishment of an integrated customs point and the construction of a railway service between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India remains a major trading partner of Nepal. The meeting is expected to contribute to further enhancing the economic and business relations between the two countries. -- RSS</span><br /> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19705', 'image' => '20240114021203_Untitled.jpg', 'article_date' => '2024-01-14 14:11:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19977', 'article_category_id' => '1', 'title' => 'TRS Atlas gets the Responsibility of Operating Nepalgunj ICP', 'sub_title' => '', 'summary' => 'January 14: A private company has been selected to operate and manage the Nepalgunj Integrated Checkpoint (ICP), which is in the final stages of construction. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: A private company has been selected to operate and manage the Nepalgunj Integrated Checkpoint (ICP), which is in the final stages of construction. Nepal Intermodal Transport Development Committee has selected TRS Atlas Logipark Pvt Ltd for the operation of the ICP.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee called for international tenders on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">6 for the operation of the ICP. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Besides TRS Atlas, Bhatbhateni, Kathmandu and Trans Nepal Freight Services Pvt had submitted proposals to operate the ICP.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashish Gajurel, executive director of the committee, informed that they signed an agreement with TRS Atlas Logipark Pvt. Ltd. for the operation of the ICP. As per the agreement, TRS Atlas will operate the ICP for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Gajurel said that the construction of the physical infrastructure of the ICP, which is under construction with the financial and technical support of the Government of India, has been completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, the water tank, CCTV connection, networking, firefighting system etc are currently being installed at the ICP. The construction of the ICP was started on October 12, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Gajurel said that the Nepalgunj ICP was built with the aim of making Nepal's international trade more simple, orderly and convenient.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that there are eight such ICPs in the country and all of them are being operated by private sector companies selected through competitive bids. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"This has increased the standard of service. The income of the state has also increased," he claimed, adding, "Looking at the international practice, such ports are being operated through the private sector in a public private partnership (PPP) model."</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19704', 'image' => '20240114010644_1705205738.jpg', 'article_date' => '2024-01-14 13:06:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19976', 'article_category_id' => '1', 'title' => 'NEA Reconnects Electricity Lines to all Industries within Three Weeks', 'sub_title' => '', 'summary' => 'January 14: Three weeks after disconnecting electricity supply to 24 industries for non-payment of electricity dues for dedicated feeder and trunk lines, the Nepal Electricity Authority has reconnected the supply lines.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 14: Three weeks after disconnecting electricity supply to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries for non-payment of electricity dues for dedicated feeder and trunk lines, the Nepal Electricity Authority has reconnected the supply lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A meeting of the Council of Ministers on Tuesday formed an investigation committee to resolve the tariff dispute and directed the NEA to immediately reconnect electricity to all the industries whose lines were cut.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Four days after the cabinet decision, a meeting of the board of directors of the NEA decided to reconnect electricity to the industries whose lines were cut. Following the board’s decision, NEA reconnected electricity to all industries on Friday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Suresh Bhattarai, information officer of the NEA, informed that the work of reconnecting electricity to all the industries whose lines were cut has been completed by Friday midnight. According to him, the Council of Ministers decided to reconnect the line, so the lines were connected even though the dispute has not been resolved.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries have yet to pay Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion to the authority for using the facility of dedicated and trunk lines. Among them, Himal Steel paid the outstanding amount in installment last Monday. The NEA connected the line of Himal Steel after it paid the first installment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authority had disconnected the lines of the industries in different stages from December 22. In the first phase, the lines of Jagdamba Steel, Ghorahi Cement, Reliance Spinning Mills and Arghakhanchi Cement were cut. In the second phase, NEA cut the lines of Sonapur Minerals and Oil Ltd, Lakshmi Steel, Sarvottam Cement, Ashok Steel, and Triveni Spinning Mills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the third phase, it stopped electricity supply to Baba Jute Mill, Siddharth Cement, Triveni Synthetic, Himal Iron and Steel, Jagdamba Enterprises, Hama Iron, Everest Paper Mill, Cosmos Cement, Shubhashree Agni Cement, Jagdamba Synthetic, Gharana Foods, Narayani Spat and Butwal Cement followed by the disconnection of electricity line of Hulas Steel.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-14', 'modified' => '2024-01-14', 'keywords' => '', 'description' => '', 'sortorder' => '19703', 'image' => '20240114120212_1703559400.1605049113.Clipboard04.jpg', 'article_date' => '2024-01-14 12:01:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
