December 19: The server of Social Security Fund has started becoming problematic.…
December 19: The server of Social Security Fund has started becoming problematic.…
December 19: The nationwide health insurance programme launched by the government is yet to start in three local levels of Kathmandu district.…
December 19: While the interest rates of banks and financial institutions are declining, the interest rates of treasury bills have increased.…
December 19: Nepal Electricity Authority had started the work of laying underground electric cables in the Kathmandu Valley four years ago with the aim of beautifying the city and reducing the damage caused to the electric poles by…
December 19: Anjana Aryal went from homemaker to entrepreneur by sharing recipes on TikTok, but her lucrative business collapsed last month when the Government of Nepal banned the Chinese-owned short video app, AFP…
December 19: The 20th Handicraft Trade Fair held in the capital from December 14 to 18 made transactions worth Rs 20…
The government has disbursed Rs 1 billion to facilitate the construction of temporary housing for people affected by the earthquake that struck on November 3. The allocation, sanctioned by the Finance Ministry, aims to provide swift relief to those impacted by the…
December 18: Banks and financial institutions (BFIs) at present have the capacity to extend additional loans of around Rs 600…
The Nepal Stock Exchange (NEPSE) witnessed an impressive upward trend as its index surged by 38.14 points or 1.89%, reaching a closing value of 2060.49 on the second trading day of the week on…
December 18: The government’s budget deficit has exceeded Rs 70.44 billion in the first five months of the current fiscal…
December 18: Cement industries have increased the price of Ordinary Portland Cement (OPC) by Rs 100 per bag during the peak season of construction.…
December 18: While announcing the budget for the current fiscal year on May 29, the government had announced to scrap more than 20 agencies saying that it would cut down public expenditure. However, those bodies are still…
December 18: More than 500 workers working in cement industries operating in the Bara-Parsa industrial corridor have become unemployed due to the closure of four cement…
December 18: Construction of a concrete bridge over the Tamor River in eastern Nepal is yet to be completed even though 12 years have elapsed since the signing of its…
December 18: Minister for Physical Infrastructure and Transport, Prakash Jwala, has said that the Indian Seema Suraksha Bal (SSB) has been causing obstructions in the blacktopping of the Postal Highway in far western parts of…
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 19: The server of Social Security Fund has started becoming problematic. </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 number of beneficiaries of the state-sponsored scheme is increasing, the problem has started to appear in recent days. </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 started affecting the contributors while making claims for refund after visiting the hospital for treatment. </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"">On Monday, Bijay Nepal reached Old Baneshwar-based Frontline Hospital for treatment. He tried to purchase medicine as recommended by the doctor at a discount rate as guaranteed by the Social Security Fund but failed to get the service. The pharmacy staff said there was a problem with the SSF served and asked him to take the medicine without any discount. He returned empty-handed saying that he would take the medicine later. </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"">Other contributors who went to the National Trauma Center last Thursday also faced a similar problem. Contributor Ramesh Sharma said that the center refused to give medicine after treatment saying that there was a problem with the server. Like him, many others have also complained of facing the same predicament.</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"">Hospitals have been saying that the server of the SSF is having frequent problems in the last few days. Sometimes, the problem lasts throughout the day. Beneficiaries have been affected by the malfunctioning of the SSF server.</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 fund, about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">466,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers in the formal sector working in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18,504</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> establishments have been listed in the social security scheme of the SSF as of December 16</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"">Likewise, the number of contributors who have gone for foreign employment as well as those from the informal sector and self-employed has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">985</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"">000</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 Social Security Act has a provision that formal and informal sector workers and self-employed persons can be included in the social security scheme of the government. This has broadened the scope of the fund.</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 details kept by the fund on its website, the contributors of the social security scheme get treatment services from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">71</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hospitals across the country. The SSF has signed agreements with Bir Hospital, Tribhuvan University Teaching Hospital, Shahid Gangalal National Heart Center and other hospitals in Kathmandu. </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"">When taking services from those hospitals, the beneficiary has to pay only </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""> percent of the cost of the treatment. Although the fund claims that the contributors will be free from the hassle of making claim for the medical treatment, health and maternity protection plan and accident and disability protection plan provided by the fund by taking benefit directly from hospitals that operate online services, the contributors are now facing problems due to the malfunction of the SSF server.</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 Section </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""> of the Social Security Act, the SSF facilitates its contributors under various schemes such as drug treatment and health protection scheme, maternity protection scheme, accident protection scheme, disability protection scheme, old age protection scheme, dependent family protection scheme, unemployment assistance scheme, as well as other social security schemes specified by the fund.</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 scheme to cover all treatment expenses under OPD and IPD services under the facility of drug treatment, health and maternity protection scheme. Under this scheme, the contributor can claim the doctor's consultation service and all the treatment expenses, the expenses according to the medicine bill, the regular pregnancy test of the female contributor or the contributor's wife and the maternity treatment up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> weeks, the treatment expenses of a child up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months after birth.</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, there is a provision to claim money for maternity leave (facility), claim money for sick leave (facility), maternity care expenses. Limits have been fixed within this scheme. There is a provision that OPD service recipients can receive </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the funds from the SSF’s treatment expenses which covers up to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in a fiscal year. The remaining </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""> percent of the amount has to be borne by the contributor.</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 also a provision that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the hospital admission expenses up to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</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"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">in one fiscal year for those taking IPD services will be paid directly from the fund to the hospital where they are admitted and the remaining </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""> percent should be borne by the contributors. All these services should be taken online.</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"">When the increase in the number of contributors, the service seekers have started to suffer due to weakness in the server. Officials of the Social Security Fund say that there are occasional problems with the servers and they resolve them as soon as possible. </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 Bivek Panthi, deputy executive director of the fund, they resolve the problem immediately.</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"">"Another reason for the interruption of the service is the problem in the server of the hospital," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19498', 'image' => '20231219033348_SSF (1).jpg', 'article_date' => '2023-12-19 15:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19769', 'article_category_id' => '1', 'title' => 'Health Insurance Programme yet to Start in 3 Local Units of KTM despite Nationwide Implementation', 'sub_title' => '', 'summary' => 'December 19: The nationwide health insurance programme launched by the government is yet to start in three local levels of Kathmandu district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 19: The nationwide health insurance programme launched by the government is yet to start in three local levels of Kathmandu district. The Kathmandu metropolis, Budhanilkantha Municipality and the Nagarjun Municipality have not yet implemented the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In nearby Lalitpur metropolis, Prime Minister Pushpa Kamal Dahal inaugurated the programme on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Introduced in 2072 BS, the programme aims to provide accessible healthcare services to all citizens. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Health Insurance Board's information officer, Om Kumari Kandel, said the failure to fix the first service points in three local levels has caused problems in implementing the programme. Major central hospitals in the Kathmandu Valley see a high influx of referral cases, making it impractical for them to serve as the first service points in terms of getting medical care under the insurance scheme. The respective governments are expected to fix the matter and once they determine the locations, the programme will be implemented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital, Tribhuvan University Teaching Hospital, Patan Academy of Health Sciences, Shukraraj Tropical and Infectious Disease Hospital and Civil Service Hospital are already overwhelmed by referral cases from other first service points and they are unwilling to act as the first service points for the three local levels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu metropolis health department Chief Ram Prasad Paudel said they are in touch with the Board to find a concrete solution to implement the programme. He said that ward office-based Urban Health Promotion Centre will serve as the first service points in case of the metropolis. The KMC is likely to reach an agreement with the board in this regard within a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, the Board has been facilitating the implementation of the health insurance programme in 77 districts, providing free treatment services to an insured family up to Rs 100,000. The yearly insurance premium per family is Rs 3,500. For families with more than five members, an additional amount of Rs 700 is chargeable per head. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19497', 'image' => '20231219025308_health insurance.jpg', 'article_date' => '2023-12-19 14:51:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19768', 'article_category_id' => '1', 'title' => 'Interest Rates of Treasury Bills up after NRB Mopped Excess Liquidity', 'sub_title' => '', 'summary' => 'December 19: While the interest rates of banks and financial institutions are declining, the interest rates of treasury bills have increased. ', '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"">December 19: While the interest rates of banks and financial institutions are declining, the interest rates of treasury bills have increased. The interest rates of treasury bills have increased after Nepal Rastra Bank continuously mopped excess liquidity from the market to implement the interest rate corridor.</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"">On Monday, Rastra Bank called for bids to renew the 28-day treasury bills worth Rs 8 billion and 182-day treasury bills worth Rs 6.33 billion. The average interest rate of 28-day treasury bills has been fixed at 2.49% and that of182-day Treasury Bills at 3.84%. Earlier, the average interest rate of 28-day treasury bills issued on November 28 was 1.75% and that of 182-day treasury issued on December 12 was 3.76%.</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"">On Monday, the government has returned the principal of 91-day treasury bills worth Rs 9.53 billion and 364-day treasury bills worth Rs 2 billion after the maturity period.</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 central bank has reduced the policy rates through the first quarterly review of the monetary policy of the current fiscal year, the banks have also reduced the interest rates starting from mid-December. However, the interest rate of treasury bills increased on Monday after the central bank continuously mopped liquidity from the market.</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 Rastra Bank has been mopping excess liquidity through deposit collection tools since mid-November. As of Sunday, the central bank has raised Rs 137. 25 billion from the market by issuing deposit collection tools 10 times. Of that, Rs 75 billion have matured and returned to the market. The central bank is again issuing a 14-day deposit collection tool worth Rs 10 billion on Tuesday. </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 the central bank has tried to maintain the interbank rate according to the limit of the interest rate corridor by mopping the liquidity of the financial system, it is still below the target limit.</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 average interbank interest rate as of mid-December is 2.72 percent. To maintain the interest rate corridor limit, the average interbank interest rate should be at least 3 percent. There is more liquidity in the financial system due to lack of credit flow compared to deposit collection. By mid-December, banks have collected Rs 6010 billion in deposits and disbursed Rs 4995 billion in loans. During this period, the average credit to deposit ratio (CD ratio) of banks is 80.34 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, the banks are in a position to extend additional loans of up to Rs 600 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19496', 'image' => '20231219015410_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-12-19 13:53:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19767', 'article_category_id' => '1', 'title' => 'NEA Fails to Lay Underground Wires in Four Years', 'sub_title' => '', 'summary' => 'December 19: Nepal Electricity Authority had started the work of laying underground electric cables in the Kathmandu Valley four years ago with the aim of beautifying the city and reducing the damage caused to the electric poles by wind.', '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"">December 19: Nepal Electricity Authority had started the work of laying underground electric cables in the Kathmandu Valley four years ago with the aim of beautifying the city and reducing the damage caused to the electric poles by wind. However, the work was halted towards the end of last fiscal 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:"Arial","sans-serif"">The NEA had set a target of completing the work in two and a half years. However, it has not been able to finish the work even in four years. As per the revised target, the NEA was supposed to lay underground cables in all the areas of the valley within last July. The deadline has been extended twice since the work could not be completed within the specified time.</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"">Tara Prasad Pradhan, deputy executive director of the NEA’s Project Management Directorate, said that the work was not completed on time due to recurring obstacles. He said that the work of laying underground cables has been stopped since June/July. </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 Pradhan, they are currently connecting the underground cables to individual households in places where the work of laying the cables has already been completed. However, the work of digging road and laying new underground cables has been stopped for now.</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"">Pradhan said that the work was stopped because the Department of Roads did not give permission to dig the roads in new places. </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"">"Earlier, the department had given permission to dig the road on condition that the NEA deposited </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""> percent of the cost of rebuilding the road for laying the underground wire. Now they are asking for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the cost,'' Pradhan said. </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 the NEA has been coordination with the department to sort out the issue. However, he said that it is not possible to say exactly when the work will start.</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 has so far completed </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent work of laying underground wires that fall under the Maharajgunj distribution center. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent work under Ratnapark distribution center, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent under Kirtipur, Baneshwar, Kuleshwar and Tripureshwar distribution centers have also been completed. The authority says that the work is incomplete in most of the places because the NEA cannot dig the road.</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 NEA has been saying that it cannot deposit more than </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""> percent of the cost, but the Department of Roads has maintained its stance of hundred percent deposits to cover the repair 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"">Arjun Prasad Aryal, head of the Kathmandu Valley Road Expansion Project, said that the proposal to deposit </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the cost of reconstruction has been forwarded as the NEA has been digging the road to lay underground wire haphazardly and leaves the work incomplete.</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"">An Indian construction company KEI Industries Limited was entrusted with the responsibility of laying the underground cables in Maharajgunj and Ratnapark distribution centers cables on March </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">5, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">201</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9. The company was given </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">months to lay the underground wires. The deadline was extended by </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 after the company failed to complete the work within the stipulated time. After the work could not be completed even within the extended deadline, the company was given another eight months in January to complete the work. Even the extended deadline has expired but the work has not been completed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19495', 'image' => '20231219124741_BimalbahadurBista_KTM_RSS_30_linevumigatgardai.JPG', 'article_date' => '2023-12-19 12:47:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19766', 'article_category_id' => '1', 'title' => 'Social Media Influencers Bearing the Brunt of TikTok Ban in Nepal', 'sub_title' => '', 'summary' => 'December 19: Anjana Aryal went from homemaker to entrepreneur by sharing recipes on TikTok, but her lucrative business collapsed last month when the Government of Nepal banned the Chinese-owned short video app, AFP reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 19: Anjana Aryal went from homemaker to entrepreneur by sharing recipes on TikTok, but her lucrative business collapsed last month when the Government of Nepal banned the Chinese-owned short video app, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Filming with her mobile phone in one hand and cooking with the other, Aryal rapidly became a social media star in Nepal last year, garnering millions of views from a following of nearly 600,000 people, added the French news agency.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">That all came to a sudden halt when Nepal banned TikTok to purportedly to protect "social harmony", following similar restrictions imposed in other countries on concerns over data security, obscene content and its owner's alleged ties to the Chinese government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"My life changed a lot because of TikTok, a lot," Aryal, 39, told AFP from her home in Kathmandu. "So many recognise me because of TikTok wherever I go."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, she earned nearly US$3,000 from endorsement deals just in October, more than double Nepal's average yearly income.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Encouraged by her audience, Aryal also started a business selling her own brand of pickles, which saw her inbox flooded with orders. But since the ban, Aryal and other prominent Nepali content creators have seen their revenue streams dry up, jeopardising their livelihoods, added AFP.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"People were earning, running businesses or just being entertained on TikTok. Everyone has been affected now and they don't know what to do," AFP quoted Aryal as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Owned by Beijing-based ByteDance, TikTok is one of the most popular social media platforms on the planet with more than one billion users. Its explosive growth has given its content creators and influencers an immense audience, and its editing features and AI-powered algorithm have proved particularly attractive, according to the news report prepared by the French news agency.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“But the algorithm is opaque and often accused of putting users into content silos, and the platform has also been blamed for spreading disinformation. It has faced intense scrutiny in the United States and other nations over user data security and the company's alleged ties to Beijing. Multiple countries have sought to tighten controls on TikTok, and the platform has been banned in neighbouring India.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Growing criticism of the app has worried influencers around the world.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Some, such as those in Pakistan, have lost income because of periodic government restrictions on TikTok, AFP reported, adding, “Others in the United States have voiced fears to local media about losing thousands of dollars in income if bans are enforced.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Government of Nepal justified its ban on the platform by accusing it of damaging the Himalayan republic's social fabric. It came days before a huge rally called by a prominent businessman Durga Prasain who was using TikTok to organise a campaign demanding the reinstatement of Nepal's monarchy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">AFP reported that dozens of content creators staged a rally in Kathmandu demanding the ban be lifted last month.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Advocate Dinesh Tripathi, who has challenged the decision in court, said the ban was an attack on people's freedom of speech because the government was fearful of "dissenting voices".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The state's first and foremost duty is to facilitate the people to exercise their rights and freedom, not prohibit it," AFP quoted Tripathi as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Manish Adhikari, who uses TikTok to discuss cars and Nepali start-ups, told AFP he had several endorsement deals scuttled by the ban.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Brands started to call me... and I wondered if I was getting out of business, is my work going to stop?" Adhikari said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Adhikari has shifted to Instagram but the views and followings are a fraction of his earlier audience.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"I lost all my audience because I was not as active on any other platform," he said. "Now I have to start from zero."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are around 2.2 million TikTok users among Nepal's 30 million people, according to the Internet Service Providers Association of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ban has reportedly toppled a market with an estimated worth in excess of $5 million each year for advertisers and content creators. – AFP/RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19494', 'image' => '20231219120727_anjana - Copy.jpg', 'article_date' => '2023-12-19 11:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19765', 'article_category_id' => '1', 'title' => 'Handicraft Fair Sees Transactions worth Rs 20 Million ', 'sub_title' => '', 'summary' => 'December 19: The 20th Handicraft Trade Fair held in the capital from December 14 to 18 made transactions worth Rs 20 million. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 19: The 20th Handicraft Trade Fair held in the capital from December 14 to 18 made transactions worth Rs 20 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Handicraft Associations of Nepal shared that the fair was organized to promote international market for Nepali handicraft products. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fair saw participation of province and district-level handicraft associations as well as commodity associations showcasing various products including jewelry, cotton cloths, pashmina, leather products, natural fibres, and bamboo items. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There were nearly 120 stalls in the event which also aimed at fostering commercial relations between national entrepreneurs and importers of handicraft products. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Minister for Industry of Bagmati Province, Ram Krishna Chitrakar, said that handicraft products have contributed well to national economy and earned foreign currency as well. “As it helps develop entrepreneurship and creates jobs, it must be protected and expanded,” he underscored. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation shared that Nepal has been exporting handicraft products to over 60 countries. The market of Nepal’s handicraft products is worth Rs 24 billion, while nearly 1.1 million people are involved in this sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been exporting handicraft products worth Rs 12 billion in average a year. -- RSS </span></span></p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19493', 'image' => '20231219105218_RS_KTM-IMG_20231217_133213.jpg', 'article_date' => '2023-12-19 10:51:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19764', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1 Billion for Temporary Housing in Quake-Hit Districts', 'sub_title' => '', 'summary' => 'The government has disbursed Rs 1 billion to facilitate the construction of temporary housing for people affected by the earthquake that struck on November 3. The allocation, sanctioned by the Finance Ministry, aims to provide swift relief to those impacted by the earthquake.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 18: The government has disbursed Rs 1 billion to facilitate the construction of temporary housing for people affected by the earthquake that struck Jajarkot and surrounding districts on November 3. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The allocation, sanctioned by the Finance Ministry, aims to provide swift relief to those impacted by the earthquake.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the National Disaster Risk Reduction and Management Authority, Rs 930 million has already been dispatched to the respective districts as of Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Anil Pokhrel, the Chief Executive Officer of the Authority, stated, "The Finance Ministry released Rs 1 billion on Sunday, and today we sent Rs 930 million. The distribution aligns with the government's priority to support individuals affected by the earthquake."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Following a decision made during the cabinet meeting on November 13, the Finance Ministry earmarked Rs 1 billion for this purpose, out of the total Rs 10 billion designated for earthquake relief.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> An allocation breakdown reveals that Rs 540 million was directed to Jajarkot, Rs 340 million to Rukum Paschim, and Rs 50 million to Salyan.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This recent disbursement supplements an earlier allocation of Rs 1.41 billion by the Authority for temporary housing construction.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> As per the latest data, 60,337 individuals are identified as beneficiaries of the relief. (RSS)</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19492', 'image' => '20231219060545_collage (4).jpg', 'article_date' => '2023-12-19 06:03:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19763', 'article_category_id' => '1', 'title' => 'BFIs have Loanable Fund of almost Rs 600 Billion', 'sub_title' => '', 'summary' => 'December 18: Banks and financial institutions (BFIs) at present have the capacity to extend additional loans of around Rs 600 billion.', '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"">December 18: Banks and financial institutions (BFIs) at present have the capacity to extend additional loans of around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. Due to the increase in deposit collection along with the increase in remittance inflow and economic activities, there is excess liquidity in the banking system.</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 Nepal Rastra Bank (NRB), the total deposits of banks and financial institutions have exceeded Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. However, the credit-deposit ratio (CD ratio) of banks has decreased due to non-expansion of credit compared to the increase in bank deposits. </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"">Until last Thursday, banks and financial institutions had deposits of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6003</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion and had extended loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4992</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. In the current fiscal year, when banks collected deposits of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">232</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, credit flow expanded by only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">114</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</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"">Due to the increase in deposit collection, the CD ratio of banks has also fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to the provision of the central bank, commercial banks can give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. As per this provision, banks now have the capacity to provide additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">578</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</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 a report prepared by NRB, the remittance inflow has increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">26.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">477</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"">96</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion as of mid-November of the current fiscal year. Similarly, during this period, income from tourism activities also increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. The increase in government spending also had a positive effect on the growth of bank deposits.</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 central bank has already reduced policy rates to increase credit flow through the first quarterly review of the monetary policy. In the current year, loan disbursement is projected to increase by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, but it has only increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent by mid-November.</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 central bank has mentioned in the monetary policy review that the growth of deposits is satisfactory and interest rates are decreasing, so credit expansion will improve by the end of the current fiscal 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:"Arial","sans-serif"">Along with the reduction of the policy rates by the central bank, BFIs have also reduced the interest rates on deposits and emphasized on increasing credit flow. With excess liquidity, interbank and short-term interest rates have also fallen to a low point. On Thursday, the interest rate of interbank transactions remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.62</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"">When the interbank interest rate fell below </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in mid-November, the central bank mopped excess liquidity through deposit collection tools. As of Sunday, the NRB has raised Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">137</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"">25</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from the market by issuing deposit collection tools </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""> times. Of that, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion has matured and returned to the market. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19491', 'image' => '20231218040412_Banks - Copy.jpg', 'article_date' => '2023-12-18 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19762', 'article_category_id' => '1', 'title' => 'NEPSE Surges by 38.14 Points, Closing at 2060.49', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed an impressive upward trend as its index surged by 38.14 points or 1.89%, reaching a closing value of 2060.49 on the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> December 18: The Nepal Stock Exchange (NEPSE) witnessed an impressive upward trend as its index surged by 38.14 points or 1.89%, reaching a closing value of 2060.49 on the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, a total of 305 scrips were actively traded, involving 113,693 transactions and a substantial volume of 21,497,619 shares. The overall turnover for the day amounted to Rs 6.86 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himal Dolakha Hydropower Company Limited (HDHPC) dominated the trading floor with the highest turnover, reaching Rs 26 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Notably, six companies, including Bottlers Nepal (BNL), Suryajyoti Life Insurance Company Limited (SJLIC), and Swarojgar Laghibitta Bittiya Sanstha (SLBBL), experienced a remarkable 10% gain, triggering positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Power Partners Limited (HPPL) faced the highest loss, recording a decline of 7.86%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Examining the sectoral performance, all sectors closed in the green zone, with the Microfinance Index leading the gains at 5.53%. However, the HydroPower Index was an exception, incurring a minor loss of 0.33%.</span></span></p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19490', 'image' => '20231218034332_collage (1).jpg', 'article_date' => '2023-12-18 15:42:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19761', 'article_category_id' => '1', 'title' => 'Government’s Budget Deficit Crosses Rs 70 Billion', 'sub_title' => '', 'summary' => 'December 18: The government’s budget deficit has exceeded Rs 70.44 billion in the first five months of the current fiscal year.', '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"">December 18: The government’s budget deficit has exceeded Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</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"">44</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion in the first five months of the current fiscal year. As of mid-December, the government has spent a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">452</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"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion while it has collected revenue worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">382</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"">54</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion during this period.</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 records of the Financial Comptroller General Office, which keeps track of the government’s income and expenditure, the expenditure of the government is more than the income during the first five months of the current fiscal 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:"Arial","sans-serif"">During this period, the government’s revenue collection stood at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target while the budget expenditure was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.87</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target. </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"">For the current fiscal year, the government had announced a total budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</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"">31</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. However, the government has not been able to spend the budget according to the target, nor has the revenue been collected. </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 has been reducing the size of the budget through half-yearly review after announcing a large budget and not being able to meet the target.</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 past five months, the government's recurrent expenditure has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33.53</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, capital expenditure has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.94</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and the expenditure towards financial management has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18.52</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"">The government has allocated a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1141</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"">78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of current expenditure. So far, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">359</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"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under this heading. </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 government has spent only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion out of the allocated budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">302.7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of capital expenditure. </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 government has set aside an annual budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">307</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"">45</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion for financial management. So far, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56</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"">94</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion under this heading. </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 data of the FCGO, the government’s expenditure towards financial management was more than the capital expenditure by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last month.</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’s revenue collection is not in line with the target so far. In the current fiscal year, the government has set a target of collecting revenue of Rs 1422.54 billion. This year, the government has set a target of receiving Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49.94</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in foreign grants but has received only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion so far, which is only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.52</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target.</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 facts show that government’s targets has been affected by the recession in economy but government officials claim that the economy has started to improve.</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"">Just last week, Finance Minister Dr Prakash Sharan Mahat said in a press conference at the Ministry of Finance that the economic activities of the country have started to run smoothly. Although the finance minister has said that the country's economy is improving in various fronts, the private sector is not ready to accept it. The private sector is saying that a lot of policy changes are needed to improve the economy.</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"">Krishna Prasad Sharma, president of Lumbini Province chapter of the Federation of Nepalese Chamber of Commerce and Industry, says that the problems faced by businessmen due to Covid-</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"">are still not resolved. According to him, even now the industries are not able to produce according to their capacity. </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"">Stakeholders says that they are in crisis as the government has created a situation of panic by imposing hefty taxes and is unwilling to take corrective measures.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19489', 'image' => '20231218034314_finance_ministry_copy1.jpg', 'article_date' => '2023-12-18 15:42:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19760', 'article_category_id' => '1', 'title' => 'Price of Cement Rises by Rs 100 Per Bag', 'sub_title' => 'Construction Entrepreneurs Demand Cement Industry to Stop Carteling', 'summary' => 'December 18: Cement industries have increased the price of Ordinary Portland Cement (OPC) by Rs 100 per bag during the peak season 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:"Nirmala UI","sans-serif"">December 18: Cement industries have increased the price of Ordinary Portland Cement (OPC) by Rs 100 per bag during the peak season of construction. The Federation of Contractors Association of Nepal has said that its attention has been drawn to the decision of the cement industry to increase the price.</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 federation has objected to the price hike accusing the cement industry of increasing the price through 'cartel'. </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"">Ravi Singh, president of the federation, said that cement industries always increase the price when it is the peak time for construction work. "We had bought cement by paying the factory price of Rs 400 per bag, but the cement industry decided to increase the price by Rs 100 per bag just two to three days ago," said Singh.</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"">Singh said that it would be difficult to work at a time when the government is yet to release their due payment and the cement industry increases the price. </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"">Now the industry has fixed the price of cement from a minimum of Rs 550 to a maximum of Rs 800 per sack. Construction entrepreneurs are complaining that the price of cement has been increased even though there is no increase in the price of raw materials related to cement production as well as the fuel price.</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"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Our serious attention has been drawn to the fact that limited cement manufacturers have increased the price by more than Rs 100 per bag recently through cartel," the statement said, "This kind of unreasonable and unscientific price hike contrary to the policy of open market economy is not acceptable." </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 federation has mentioned that the financial burden has increased due to the increase in the cost of construction. The construction industry itself is on the verge of collapse due to the delay in payment of billions of rupees to the construction workers along with the complications seen in the extension of the project deadline. The federation has also demanded to cancel the price hike immediately.</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"">On the other hand, Dhruva Thapa, president of Nepal Cement Producers' Association, responded that it is natural for prices to increase as it is the construction season. </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 association has not officially increased the price of cement," Thapa said, adding, "My company itself sold cement at a loss of Rs 70/80 per bag in July/August."</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"">He said that the industry which was producing at a loss may have opted to increase the price. He said that although the construction season has started, the demand for cement in the market has not increased significantly.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19488', 'image' => '20231218031519_cementtttt.jpg', 'article_date' => '2023-12-18 15:14:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19759', 'article_category_id' => '1', 'title' => 'Agencies Government Announced to Scrap Still Functional', 'sub_title' => '', 'summary' => 'December 18: While announcing the budget for the current fiscal year on May 29, the government had announced to scrap more than 20 agencies saying that it would cut down public expenditure. However, those bodies are still functioning.', '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"">December 18: While announcing the budget for the current fiscal year on May 29, the government had announced to scrap more than </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""> agencies saying that it would cut down public expenditure. However, those bodies are still functioning. </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"">Those institutions are still operational due to the government’s lack of interest in implementing the announcement made in the budget. Also, the employees have not co-operated with the government fearing that they might lose the facilities they have been enjoying so far.</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"">Even though the government has initiated the process of revoking those agencies, it is yet to decide about the merger of those agencies with another one. The government is still confused about what will happen to the employees, assets and liabilities of those agencies after the decision to scrap them. This has exposed the government's style of making hasty announcements but not working effectively. </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 agencies that were said to be scrapped have been authorized to spend the budget until mid-December. It is unclear what will happen next.</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"">One of the bodies that the government announced to scrap is the Nepal Intermodal Transport Development Committee. The committee is still active even though the government said in the budget that Nepal Transport and Warehousing Company Limited will do its work. There are </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""> staffers in the committee, from the executive director to assistants. </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, said that the committee is still active now because the government announced to scrap the bodies without proper homework.</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 says that it was a mistake to take a decision without being clear on why and for what reasons the bodies should be scrapped. </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 even though a task force led by the joint secretary of the Ministry of Industry, Commerce and Supplies had submitted a report to merge it with a transport company, he had written a note of dissent. Although the government has started the process for cancellation of the committee, it has not been able to do so.</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"">Another agency that the government announced to abolish is the National Dairy Development Board. As per the announcement made by the government, the board will be abolished and its work including regulations, procedures and studies and research would be carried out by the relevant ministries. </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 board is still functional. Instead, the employees there have intensified their lobbying to prevent it from being scrapped. Due to lobbying, the board has received the same budget as it used to get before. </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"">Executive Director of the board, Balak Chaudhary, says that the board is still working on the study and research as well as formulating regulations and procedures. He says that he is not aware of why the government put the board in the list of cancellation. Chaudhary said that the Minister for Agriculture himself has stood against abolishing the board and he is confident that the board will remain as it is.</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 had also announced to abolish the District Election Office. It caused an uproar within days of the government announcing the decision. Since then, the government has backed away from implementing the decision. At that time, after the opposition parties blocked the Parliament, Finance Minister Dr Prakash Sharan Mahat stood on the rostrum of the House of Representatives and expressed his commitment to maintain the status of the district election offices despite the announcement to scrap them.</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 effectively ruled out the election offices being scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19487', 'image' => '20231218013002_20230714023452_1683767264.jpg', 'article_date' => '2023-12-18 13:28:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19758', 'article_category_id' => '1', 'title' => 'Four Cement Industries Operating in Bara-Parsa Industrial Corridor Shut Down', 'sub_title' => '', 'summary' => 'December 18: More than 500 workers working in cement industries operating in the Bara-Parsa industrial corridor have become unemployed due to the closure of four cement industries.', '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"">December 18: More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers working in cement industries operating in the Bara-Parsa industrial corridor have become unemployed due to the closure of four cement industries. </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"">International Cement, Bishwakarma Cement, Krishna Cement and RMC Cement operating in the biggest economic corridor of the country have stopped production due to economic recession, and the workers and employees working there have become unemployed.</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 of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries operating in the corridor have been closed. Anil Agarwal, president of Birgunj chapter of the FNCCI and owner of Shree Cement Udyog, informed that the rest of the industries are also in a state of closure. According to him, the problem has arisen due to high interest rate charged by banks, lack of infrastructure development and non-payment of construction works. Agarwal said that some industries shut down due to the drop in demand for cement.</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"">India has been charging a tax of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</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"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per ton of clinker which it had been providing free of charge to the Nepali cement industry earlier. Agrawal says that it is necessary for the government to pay attention to this issue. According to the industrialists, Nepali cement can be exported to India if the government takes the initiative to provide the Indian quality mark BIS, which Nepali cement industry has been demanding for years. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19486', 'image' => '20231218122632_1702812532.jpg', 'article_date' => '2023-12-18 12:25:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19757', 'article_category_id' => '1', 'title' => 'Twelve Years On, Construction of Tamor Bridge yet to Complete ', 'sub_title' => '', 'summary' => 'December 18: Construction of a concrete bridge over the Tamor River in eastern Nepal is yet to be completed even though 12 years have elapsed since the signing of its contract. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 18: Construction of a concrete bridge over the Tamor River in eastern Nepal is yet to be completed even though 12 years have elapsed since the signing of its contract. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the bridge linking Terhathum and Panchthar districts has not gained momentum. It is uncertain how long it will take to complete the construction of the bridge. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">One has to travel 116 kilometers to reach Dharan from Myanglung via Basantapur, Sidhuwa, Hile and Dhankuta. After the construction of the bridge, Dharan can be reached directly through Tamor corridor, which will cut short the time by half.</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"">Due to the inordinate delay in the construction work, the residents of Kummayak of Panchthar have to walk seven to eight hours carrying materials on their backs to reach the Friday weekly market at Hatia, Myanglung of Tehrathum. </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"">Hatia is near Kummayak Rural Municipality in Panchthar district. The goods produced in the village are taken to the Friday market at Hatia of Myanglung for sale. The traders return home with soap, salt, oil, clothes and clothes on their backs from Myanglung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Thapa, who had come to sell almonds from Bijuwapani of Kummayak rural municipality to Myanglung in the Friday market, said, "We feel that we would not have had to carry a heavy load if the bridge had been constructed." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had signed a contract with Swachchhanda Contractor Company in June 2011 for the construction of the bridge at a cost of Rs 130 million. As per the agreement, the company was supposed to complete the construction of the bridge by July 2018. Chief of the Road Division Office, Dhankuta, Ram Kumar Dev, said only 50 percent of the work of the bridge, which is 3 meters wide and 157 meters long, has been completed so far. </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"">“Out of the five pillars, only four have been constructed. We are extending the construction deadline till mid-July 2024", he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The contractor company's representative Ajay Lamichhane said that the project was delayed because there was no road leading to the bridge from Myanglung when the construction of the bridge started. “It took time to build the road, which was necessary to transport construction materials. Therefore, the construction of the bridge was delayed,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arjan Dhungana of Myanglung and Dik Bahadur Karki of Laligurans municipality had lodged a complaint with the Commission for the Investigation of Abuse of Authority (CIAA) accusing the authorities concerned of misappropriating funds in the name of the project. Local residents of Myanglung have been putting pressure on the Myanglung Municipality and the District Administration Office, Tehrathum, by forming a committee to press for the timely construction of the bridge over the Tamor River. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19485', 'image' => '20231218112320_Bridge_over_tamor_river_at_Panchthar_-_panoramio.jpg', 'article_date' => '2023-12-18 11:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19756', 'article_category_id' => '1', 'title' => 'SSB Obstructing Blacktopping of Postal Highway in Kanchanpur: Minister Jwala', 'sub_title' => '', 'summary' => 'December 18: Minister for Physical Infrastructure and Transport, Prakash Jwala, has said that the Indian Seema Suraksha Bal (SSB) has been causing obstructions in the blacktopping of the Postal Highway in far western parts of Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 18: Minister for Physical Infrastructure and Transport, Prakash Jwala, has said that the Indian Seema Suraksha Bal (SSB) has been causing obstructions in the blacktopping of the Postal Highway in far western parts of Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During a meeting of the Delegated Management and Government Assurance Committee of the National Assembly (NA) on Sunday, the minister talked about challenges in completing the project due to the non-cooperation from the SSB. He said that blacktopping has been hampered in the Belauri-Pachui area in Kanchanpur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Jwala said there are some issues regarding border disputes in the given area and various initiations from the official channel to ease the situation for the highway construction have yielded no results. The Postal Highway is being developed by connecting 21 districts in the Terai from east to west. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee, a few days back, visited the area and the minister was summoned to the meeting on Sunday to take stock of the government efforts towards the project implementation. According to Minister Jwala, the Foreign Ministry has been requested to facilitate this matter. He also called for efforts from authorities concerned to address the issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Postal Highway Directorate’s Director Ajay Kumar Mul apprised the meeting that work in 60 kilometers in Kanchanpur has been divided into three clusters (each cluster measuring 20 kilometers) and the blacktopping is being carried out. Border disputes have hampered the works along the 1,400 meter section of Belauri Pachui-Khapati river area. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> He said that there were no issues while the preparations for the blacktopping were done. The SSB intervened while graveling works were about to start for the blacktopping, citing the area lies on the no man's land. The Survey Office and Department were also apprised of this development by the road project. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the project, a diplomatic initiation is necessary to sort out the issue. The exact location of Pillar number 38 should be identified. Mul said they are waiting for a substantive direction from the government to proceed with the project implementation. The second cluster incorporating the Belauri-Pachai-Khapati River reports 80 percent physical progress. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the project faces issues for the project implementation in the 15 kilometers stretch of the third cluster as the area lies along the Shuklaphanta National Park. The transportation of construction materials and the construction works are restricted to daytime and it is challenging to transport construction equipment to the site as well. Initially, a budget of Rs 4.5 billion was ensured for the project, but the cost is estimated to reach Rs 10 billion due to the delay in completion of the works. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19484', 'image' => '20231218101855_20230406110040_postal highway facebook.jpg', 'article_date' => '2023-12-18 10:17:58', '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' => '19770', 'article_category_id' => '1', 'title' => 'Contributors of SSF Troubled by Server Problem of the Fund', 'sub_title' => '', 'summary' => 'December 19: The server of Social Security Fund has started becoming problematic. ', '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"">December 19: The server of Social Security Fund has started becoming problematic. </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 number of beneficiaries of the state-sponsored scheme is increasing, the problem has started to appear in recent days. </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 started affecting the contributors while making claims for refund after visiting the hospital for treatment. </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"">On Monday, Bijay Nepal reached Old Baneshwar-based Frontline Hospital for treatment. He tried to purchase medicine as recommended by the doctor at a discount rate as guaranteed by the Social Security Fund but failed to get the service. The pharmacy staff said there was a problem with the SSF served and asked him to take the medicine without any discount. He returned empty-handed saying that he would take the medicine later. </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"">Other contributors who went to the National Trauma Center last Thursday also faced a similar problem. Contributor Ramesh Sharma said that the center refused to give medicine after treatment saying that there was a problem with the server. Like him, many others have also complained of facing the same predicament.</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"">Hospitals have been saying that the server of the SSF is having frequent problems in the last few days. Sometimes, the problem lasts throughout the day. Beneficiaries have been affected by the malfunctioning of the SSF server.</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 fund, about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">466,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers in the formal sector working in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18,504</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> establishments have been listed in the social security scheme of the SSF as of December 16</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"">Likewise, the number of contributors who have gone for foreign employment as well as those from the informal sector and self-employed has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">985</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"">000</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 Social Security Act has a provision that formal and informal sector workers and self-employed persons can be included in the social security scheme of the government. This has broadened the scope of the fund.</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 details kept by the fund on its website, the contributors of the social security scheme get treatment services from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">71</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hospitals across the country. The SSF has signed agreements with Bir Hospital, Tribhuvan University Teaching Hospital, Shahid Gangalal National Heart Center and other hospitals in Kathmandu. </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"">When taking services from those hospitals, the beneficiary has to pay only </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""> percent of the cost of the treatment. Although the fund claims that the contributors will be free from the hassle of making claim for the medical treatment, health and maternity protection plan and accident and disability protection plan provided by the fund by taking benefit directly from hospitals that operate online services, the contributors are now facing problems due to the malfunction of the SSF server.</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 Section </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""> of the Social Security Act, the SSF facilitates its contributors under various schemes such as drug treatment and health protection scheme, maternity protection scheme, accident protection scheme, disability protection scheme, old age protection scheme, dependent family protection scheme, unemployment assistance scheme, as well as other social security schemes specified by the fund.</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 scheme to cover all treatment expenses under OPD and IPD services under the facility of drug treatment, health and maternity protection scheme. Under this scheme, the contributor can claim the doctor's consultation service and all the treatment expenses, the expenses according to the medicine bill, the regular pregnancy test of the female contributor or the contributor's wife and the maternity treatment up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> weeks, the treatment expenses of a child up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months after birth.</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, there is a provision to claim money for maternity leave (facility), claim money for sick leave (facility), maternity care expenses. Limits have been fixed within this scheme. There is a provision that OPD service recipients can receive </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the funds from the SSF’s treatment expenses which covers up to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in a fiscal year. The remaining </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""> percent of the amount has to be borne by the contributor.</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 also a provision that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the hospital admission expenses up to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</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"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">in one fiscal year for those taking IPD services will be paid directly from the fund to the hospital where they are admitted and the remaining </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""> percent should be borne by the contributors. All these services should be taken online.</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"">When the increase in the number of contributors, the service seekers have started to suffer due to weakness in the server. Officials of the Social Security Fund say that there are occasional problems with the servers and they resolve them as soon as possible. </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 Bivek Panthi, deputy executive director of the fund, they resolve the problem immediately.</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"">"Another reason for the interruption of the service is the problem in the server of the hospital," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19498', 'image' => '20231219033348_SSF (1).jpg', 'article_date' => '2023-12-19 15:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19769', 'article_category_id' => '1', 'title' => 'Health Insurance Programme yet to Start in 3 Local Units of KTM despite Nationwide Implementation', 'sub_title' => '', 'summary' => 'December 19: The nationwide health insurance programme launched by the government is yet to start in three local levels of Kathmandu district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 19: The nationwide health insurance programme launched by the government is yet to start in three local levels of Kathmandu district. The Kathmandu metropolis, Budhanilkantha Municipality and the Nagarjun Municipality have not yet implemented the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In nearby Lalitpur metropolis, Prime Minister Pushpa Kamal Dahal inaugurated the programme on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Introduced in 2072 BS, the programme aims to provide accessible healthcare services to all citizens. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Health Insurance Board's information officer, Om Kumari Kandel, said the failure to fix the first service points in three local levels has caused problems in implementing the programme. Major central hospitals in the Kathmandu Valley see a high influx of referral cases, making it impractical for them to serve as the first service points in terms of getting medical care under the insurance scheme. The respective governments are expected to fix the matter and once they determine the locations, the programme will be implemented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital, Tribhuvan University Teaching Hospital, Patan Academy of Health Sciences, Shukraraj Tropical and Infectious Disease Hospital and Civil Service Hospital are already overwhelmed by referral cases from other first service points and they are unwilling to act as the first service points for the three local levels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu metropolis health department Chief Ram Prasad Paudel said they are in touch with the Board to find a concrete solution to implement the programme. He said that ward office-based Urban Health Promotion Centre will serve as the first service points in case of the metropolis. The KMC is likely to reach an agreement with the board in this regard within a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, the Board has been facilitating the implementation of the health insurance programme in 77 districts, providing free treatment services to an insured family up to Rs 100,000. The yearly insurance premium per family is Rs 3,500. For families with more than five members, an additional amount of Rs 700 is chargeable per head. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19497', 'image' => '20231219025308_health insurance.jpg', 'article_date' => '2023-12-19 14:51:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19768', 'article_category_id' => '1', 'title' => 'Interest Rates of Treasury Bills up after NRB Mopped Excess Liquidity', 'sub_title' => '', 'summary' => 'December 19: While the interest rates of banks and financial institutions are declining, the interest rates of treasury bills have increased. ', '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"">December 19: While the interest rates of banks and financial institutions are declining, the interest rates of treasury bills have increased. The interest rates of treasury bills have increased after Nepal Rastra Bank continuously mopped excess liquidity from the market to implement the interest rate corridor.</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"">On Monday, Rastra Bank called for bids to renew the 28-day treasury bills worth Rs 8 billion and 182-day treasury bills worth Rs 6.33 billion. The average interest rate of 28-day treasury bills has been fixed at 2.49% and that of182-day Treasury Bills at 3.84%. Earlier, the average interest rate of 28-day treasury bills issued on November 28 was 1.75% and that of 182-day treasury issued on December 12 was 3.76%.</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"">On Monday, the government has returned the principal of 91-day treasury bills worth Rs 9.53 billion and 364-day treasury bills worth Rs 2 billion after the maturity period.</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 central bank has reduced the policy rates through the first quarterly review of the monetary policy of the current fiscal year, the banks have also reduced the interest rates starting from mid-December. However, the interest rate of treasury bills increased on Monday after the central bank continuously mopped liquidity from the market.</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 Rastra Bank has been mopping excess liquidity through deposit collection tools since mid-November. As of Sunday, the central bank has raised Rs 137. 25 billion from the market by issuing deposit collection tools 10 times. Of that, Rs 75 billion have matured and returned to the market. The central bank is again issuing a 14-day deposit collection tool worth Rs 10 billion on Tuesday. </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 the central bank has tried to maintain the interbank rate according to the limit of the interest rate corridor by mopping the liquidity of the financial system, it is still below the target limit.</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 average interbank interest rate as of mid-December is 2.72 percent. To maintain the interest rate corridor limit, the average interbank interest rate should be at least 3 percent. There is more liquidity in the financial system due to lack of credit flow compared to deposit collection. By mid-December, banks have collected Rs 6010 billion in deposits and disbursed Rs 4995 billion in loans. During this period, the average credit to deposit ratio (CD ratio) of banks is 80.34 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, the banks are in a position to extend additional loans of up to Rs 600 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19496', 'image' => '20231219015410_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-12-19 13:53:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19767', 'article_category_id' => '1', 'title' => 'NEA Fails to Lay Underground Wires in Four Years', 'sub_title' => '', 'summary' => 'December 19: Nepal Electricity Authority had started the work of laying underground electric cables in the Kathmandu Valley four years ago with the aim of beautifying the city and reducing the damage caused to the electric poles by wind.', '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"">December 19: Nepal Electricity Authority had started the work of laying underground electric cables in the Kathmandu Valley four years ago with the aim of beautifying the city and reducing the damage caused to the electric poles by wind. However, the work was halted towards the end of last fiscal 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:"Arial","sans-serif"">The NEA had set a target of completing the work in two and a half years. However, it has not been able to finish the work even in four years. As per the revised target, the NEA was supposed to lay underground cables in all the areas of the valley within last July. The deadline has been extended twice since the work could not be completed within the specified time.</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"">Tara Prasad Pradhan, deputy executive director of the NEA’s Project Management Directorate, said that the work was not completed on time due to recurring obstacles. He said that the work of laying underground cables has been stopped since June/July. </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 Pradhan, they are currently connecting the underground cables to individual households in places where the work of laying the cables has already been completed. However, the work of digging road and laying new underground cables has been stopped for now.</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"">Pradhan said that the work was stopped because the Department of Roads did not give permission to dig the roads in new places. </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"">"Earlier, the department had given permission to dig the road on condition that the NEA deposited </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""> percent of the cost of rebuilding the road for laying the underground wire. Now they are asking for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the cost,'' Pradhan said. </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 the NEA has been coordination with the department to sort out the issue. However, he said that it is not possible to say exactly when the work will start.</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 has so far completed </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent work of laying underground wires that fall under the Maharajgunj distribution center. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent work under Ratnapark distribution center, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent under Kirtipur, Baneshwar, Kuleshwar and Tripureshwar distribution centers have also been completed. The authority says that the work is incomplete in most of the places because the NEA cannot dig the road.</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 NEA has been saying that it cannot deposit more than </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""> percent of the cost, but the Department of Roads has maintained its stance of hundred percent deposits to cover the repair 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"">Arjun Prasad Aryal, head of the Kathmandu Valley Road Expansion Project, said that the proposal to deposit </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the cost of reconstruction has been forwarded as the NEA has been digging the road to lay underground wire haphazardly and leaves the work incomplete.</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"">An Indian construction company KEI Industries Limited was entrusted with the responsibility of laying the underground cables in Maharajgunj and Ratnapark distribution centers cables on March </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">5, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">201</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9. The company was given </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">months to lay the underground wires. The deadline was extended by </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 after the company failed to complete the work within the stipulated time. After the work could not be completed even within the extended deadline, the company was given another eight months in January to complete the work. Even the extended deadline has expired but the work has not been completed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19495', 'image' => '20231219124741_BimalbahadurBista_KTM_RSS_30_linevumigatgardai.JPG', 'article_date' => '2023-12-19 12:47:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19766', 'article_category_id' => '1', 'title' => 'Social Media Influencers Bearing the Brunt of TikTok Ban in Nepal', 'sub_title' => '', 'summary' => 'December 19: Anjana Aryal went from homemaker to entrepreneur by sharing recipes on TikTok, but her lucrative business collapsed last month when the Government of Nepal banned the Chinese-owned short video app, AFP reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 19: Anjana Aryal went from homemaker to entrepreneur by sharing recipes on TikTok, but her lucrative business collapsed last month when the Government of Nepal banned the Chinese-owned short video app, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Filming with her mobile phone in one hand and cooking with the other, Aryal rapidly became a social media star in Nepal last year, garnering millions of views from a following of nearly 600,000 people, added the French news agency.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">That all came to a sudden halt when Nepal banned TikTok to purportedly to protect "social harmony", following similar restrictions imposed in other countries on concerns over data security, obscene content and its owner's alleged ties to the Chinese government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"My life changed a lot because of TikTok, a lot," Aryal, 39, told AFP from her home in Kathmandu. "So many recognise me because of TikTok wherever I go."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, she earned nearly US$3,000 from endorsement deals just in October, more than double Nepal's average yearly income.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Encouraged by her audience, Aryal also started a business selling her own brand of pickles, which saw her inbox flooded with orders. But since the ban, Aryal and other prominent Nepali content creators have seen their revenue streams dry up, jeopardising their livelihoods, added AFP.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"People were earning, running businesses or just being entertained on TikTok. Everyone has been affected now and they don't know what to do," AFP quoted Aryal as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Owned by Beijing-based ByteDance, TikTok is one of the most popular social media platforms on the planet with more than one billion users. Its explosive growth has given its content creators and influencers an immense audience, and its editing features and AI-powered algorithm have proved particularly attractive, according to the news report prepared by the French news agency.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“But the algorithm is opaque and often accused of putting users into content silos, and the platform has also been blamed for spreading disinformation. It has faced intense scrutiny in the United States and other nations over user data security and the company's alleged ties to Beijing. Multiple countries have sought to tighten controls on TikTok, and the platform has been banned in neighbouring India.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Growing criticism of the app has worried influencers around the world.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Some, such as those in Pakistan, have lost income because of periodic government restrictions on TikTok, AFP reported, adding, “Others in the United States have voiced fears to local media about losing thousands of dollars in income if bans are enforced.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Government of Nepal justified its ban on the platform by accusing it of damaging the Himalayan republic's social fabric. It came days before a huge rally called by a prominent businessman Durga Prasain who was using TikTok to organise a campaign demanding the reinstatement of Nepal's monarchy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">AFP reported that dozens of content creators staged a rally in Kathmandu demanding the ban be lifted last month.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Advocate Dinesh Tripathi, who has challenged the decision in court, said the ban was an attack on people's freedom of speech because the government was fearful of "dissenting voices".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The state's first and foremost duty is to facilitate the people to exercise their rights and freedom, not prohibit it," AFP quoted Tripathi as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Manish Adhikari, who uses TikTok to discuss cars and Nepali start-ups, told AFP he had several endorsement deals scuttled by the ban.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Brands started to call me... and I wondered if I was getting out of business, is my work going to stop?" Adhikari said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Adhikari has shifted to Instagram but the views and followings are a fraction of his earlier audience.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"I lost all my audience because I was not as active on any other platform," he said. "Now I have to start from zero."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are around 2.2 million TikTok users among Nepal's 30 million people, according to the Internet Service Providers Association of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ban has reportedly toppled a market with an estimated worth in excess of $5 million each year for advertisers and content creators. – AFP/RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19494', 'image' => '20231219120727_anjana - Copy.jpg', 'article_date' => '2023-12-19 11:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19765', 'article_category_id' => '1', 'title' => 'Handicraft Fair Sees Transactions worth Rs 20 Million ', 'sub_title' => '', 'summary' => 'December 19: The 20th Handicraft Trade Fair held in the capital from December 14 to 18 made transactions worth Rs 20 million. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 19: The 20th Handicraft Trade Fair held in the capital from December 14 to 18 made transactions worth Rs 20 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Handicraft Associations of Nepal shared that the fair was organized to promote international market for Nepali handicraft products. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fair saw participation of province and district-level handicraft associations as well as commodity associations showcasing various products including jewelry, cotton cloths, pashmina, leather products, natural fibres, and bamboo items. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There were nearly 120 stalls in the event which also aimed at fostering commercial relations between national entrepreneurs and importers of handicraft products. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Minister for Industry of Bagmati Province, Ram Krishna Chitrakar, said that handicraft products have contributed well to national economy and earned foreign currency as well. “As it helps develop entrepreneurship and creates jobs, it must be protected and expanded,” he underscored. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation shared that Nepal has been exporting handicraft products to over 60 countries. The market of Nepal’s handicraft products is worth Rs 24 billion, while nearly 1.1 million people are involved in this sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been exporting handicraft products worth Rs 12 billion in average a year. -- RSS </span></span></p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19493', 'image' => '20231219105218_RS_KTM-IMG_20231217_133213.jpg', 'article_date' => '2023-12-19 10:51:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19764', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1 Billion for Temporary Housing in Quake-Hit Districts', 'sub_title' => '', 'summary' => 'The government has disbursed Rs 1 billion to facilitate the construction of temporary housing for people affected by the earthquake that struck on November 3. The allocation, sanctioned by the Finance Ministry, aims to provide swift relief to those impacted by the earthquake.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 18: The government has disbursed Rs 1 billion to facilitate the construction of temporary housing for people affected by the earthquake that struck Jajarkot and surrounding districts on November 3. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The allocation, sanctioned by the Finance Ministry, aims to provide swift relief to those impacted by the earthquake.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the National Disaster Risk Reduction and Management Authority, Rs 930 million has already been dispatched to the respective districts as of Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Anil Pokhrel, the Chief Executive Officer of the Authority, stated, "The Finance Ministry released Rs 1 billion on Sunday, and today we sent Rs 930 million. The distribution aligns with the government's priority to support individuals affected by the earthquake."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Following a decision made during the cabinet meeting on November 13, the Finance Ministry earmarked Rs 1 billion for this purpose, out of the total Rs 10 billion designated for earthquake relief.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> An allocation breakdown reveals that Rs 540 million was directed to Jajarkot, Rs 340 million to Rukum Paschim, and Rs 50 million to Salyan.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This recent disbursement supplements an earlier allocation of Rs 1.41 billion by the Authority for temporary housing construction.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> As per the latest data, 60,337 individuals are identified as beneficiaries of the relief. (RSS)</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19492', 'image' => '20231219060545_collage (4).jpg', 'article_date' => '2023-12-19 06:03:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19763', 'article_category_id' => '1', 'title' => 'BFIs have Loanable Fund of almost Rs 600 Billion', 'sub_title' => '', 'summary' => 'December 18: Banks and financial institutions (BFIs) at present have the capacity to extend additional loans of around Rs 600 billion.', '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"">December 18: Banks and financial institutions (BFIs) at present have the capacity to extend additional loans of around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. Due to the increase in deposit collection along with the increase in remittance inflow and economic activities, there is excess liquidity in the banking system.</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 Nepal Rastra Bank (NRB), the total deposits of banks and financial institutions have exceeded Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. However, the credit-deposit ratio (CD ratio) of banks has decreased due to non-expansion of credit compared to the increase in bank deposits. </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"">Until last Thursday, banks and financial institutions had deposits of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6003</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion and had extended loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4992</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. In the current fiscal year, when banks collected deposits of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">232</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, credit flow expanded by only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">114</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</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"">Due to the increase in deposit collection, the CD ratio of banks has also fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to the provision of the central bank, commercial banks can give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. As per this provision, banks now have the capacity to provide additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">578</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</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 a report prepared by NRB, the remittance inflow has increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">26.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">477</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"">96</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion as of mid-November of the current fiscal year. Similarly, during this period, income from tourism activities also increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. The increase in government spending also had a positive effect on the growth of bank deposits.</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 central bank has already reduced policy rates to increase credit flow through the first quarterly review of the monetary policy. In the current year, loan disbursement is projected to increase by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, but it has only increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent by mid-November.</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 central bank has mentioned in the monetary policy review that the growth of deposits is satisfactory and interest rates are decreasing, so credit expansion will improve by the end of the current fiscal 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:"Arial","sans-serif"">Along with the reduction of the policy rates by the central bank, BFIs have also reduced the interest rates on deposits and emphasized on increasing credit flow. With excess liquidity, interbank and short-term interest rates have also fallen to a low point. On Thursday, the interest rate of interbank transactions remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.62</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"">When the interbank interest rate fell below </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in mid-November, the central bank mopped excess liquidity through deposit collection tools. As of Sunday, the NRB has raised Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">137</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"">25</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from the market by issuing deposit collection tools </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""> times. Of that, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion has matured and returned to the market. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19491', 'image' => '20231218040412_Banks - Copy.jpg', 'article_date' => '2023-12-18 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19762', 'article_category_id' => '1', 'title' => 'NEPSE Surges by 38.14 Points, Closing at 2060.49', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed an impressive upward trend as its index surged by 38.14 points or 1.89%, reaching a closing value of 2060.49 on the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> December 18: The Nepal Stock Exchange (NEPSE) witnessed an impressive upward trend as its index surged by 38.14 points or 1.89%, reaching a closing value of 2060.49 on the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, a total of 305 scrips were actively traded, involving 113,693 transactions and a substantial volume of 21,497,619 shares. The overall turnover for the day amounted to Rs 6.86 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himal Dolakha Hydropower Company Limited (HDHPC) dominated the trading floor with the highest turnover, reaching Rs 26 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Notably, six companies, including Bottlers Nepal (BNL), Suryajyoti Life Insurance Company Limited (SJLIC), and Swarojgar Laghibitta Bittiya Sanstha (SLBBL), experienced a remarkable 10% gain, triggering positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Power Partners Limited (HPPL) faced the highest loss, recording a decline of 7.86%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Examining the sectoral performance, all sectors closed in the green zone, with the Microfinance Index leading the gains at 5.53%. However, the HydroPower Index was an exception, incurring a minor loss of 0.33%.</span></span></p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19490', 'image' => '20231218034332_collage (1).jpg', 'article_date' => '2023-12-18 15:42:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19761', 'article_category_id' => '1', 'title' => 'Government’s Budget Deficit Crosses Rs 70 Billion', 'sub_title' => '', 'summary' => 'December 18: The government’s budget deficit has exceeded Rs 70.44 billion in the first five months of the current fiscal year.', '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"">December 18: The government’s budget deficit has exceeded Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</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"">44</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion in the first five months of the current fiscal year. As of mid-December, the government has spent a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">452</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"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion while it has collected revenue worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">382</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"">54</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion during this period.</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 records of the Financial Comptroller General Office, which keeps track of the government’s income and expenditure, the expenditure of the government is more than the income during the first five months of the current fiscal 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:"Arial","sans-serif"">During this period, the government’s revenue collection stood at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target while the budget expenditure was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.87</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target. </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"">For the current fiscal year, the government had announced a total budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</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"">31</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. However, the government has not been able to spend the budget according to the target, nor has the revenue been collected. </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 has been reducing the size of the budget through half-yearly review after announcing a large budget and not being able to meet the target.</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 past five months, the government's recurrent expenditure has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33.53</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, capital expenditure has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.94</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and the expenditure towards financial management has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18.52</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"">The government has allocated a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1141</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"">78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of current expenditure. So far, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">359</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"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under this heading. </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 government has spent only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion out of the allocated budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">302.7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of capital expenditure. </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 government has set aside an annual budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">307</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"">45</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion for financial management. So far, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56</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"">94</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion under this heading. </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 data of the FCGO, the government’s expenditure towards financial management was more than the capital expenditure by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last month.</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’s revenue collection is not in line with the target so far. In the current fiscal year, the government has set a target of collecting revenue of Rs 1422.54 billion. This year, the government has set a target of receiving Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49.94</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in foreign grants but has received only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion so far, which is only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.52</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target.</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 facts show that government’s targets has been affected by the recession in economy but government officials claim that the economy has started to improve.</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"">Just last week, Finance Minister Dr Prakash Sharan Mahat said in a press conference at the Ministry of Finance that the economic activities of the country have started to run smoothly. Although the finance minister has said that the country's economy is improving in various fronts, the private sector is not ready to accept it. The private sector is saying that a lot of policy changes are needed to improve the economy.</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"">Krishna Prasad Sharma, president of Lumbini Province chapter of the Federation of Nepalese Chamber of Commerce and Industry, says that the problems faced by businessmen due to Covid-</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"">are still not resolved. According to him, even now the industries are not able to produce according to their capacity. </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"">Stakeholders says that they are in crisis as the government has created a situation of panic by imposing hefty taxes and is unwilling to take corrective measures.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19489', 'image' => '20231218034314_finance_ministry_copy1.jpg', 'article_date' => '2023-12-18 15:42:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19760', 'article_category_id' => '1', 'title' => 'Price of Cement Rises by Rs 100 Per Bag', 'sub_title' => 'Construction Entrepreneurs Demand Cement Industry to Stop Carteling', 'summary' => 'December 18: Cement industries have increased the price of Ordinary Portland Cement (OPC) by Rs 100 per bag during the peak season 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:"Nirmala UI","sans-serif"">December 18: Cement industries have increased the price of Ordinary Portland Cement (OPC) by Rs 100 per bag during the peak season of construction. The Federation of Contractors Association of Nepal has said that its attention has been drawn to the decision of the cement industry to increase the price.</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 federation has objected to the price hike accusing the cement industry of increasing the price through 'cartel'. </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"">Ravi Singh, president of the federation, said that cement industries always increase the price when it is the peak time for construction work. "We had bought cement by paying the factory price of Rs 400 per bag, but the cement industry decided to increase the price by Rs 100 per bag just two to three days ago," said Singh.</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"">Singh said that it would be difficult to work at a time when the government is yet to release their due payment and the cement industry increases the price. </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"">Now the industry has fixed the price of cement from a minimum of Rs 550 to a maximum of Rs 800 per sack. Construction entrepreneurs are complaining that the price of cement has been increased even though there is no increase in the price of raw materials related to cement production as well as the fuel price.</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"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Our serious attention has been drawn to the fact that limited cement manufacturers have increased the price by more than Rs 100 per bag recently through cartel," the statement said, "This kind of unreasonable and unscientific price hike contrary to the policy of open market economy is not acceptable." </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 federation has mentioned that the financial burden has increased due to the increase in the cost of construction. The construction industry itself is on the verge of collapse due to the delay in payment of billions of rupees to the construction workers along with the complications seen in the extension of the project deadline. The federation has also demanded to cancel the price hike immediately.</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"">On the other hand, Dhruva Thapa, president of Nepal Cement Producers' Association, responded that it is natural for prices to increase as it is the construction season. </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 association has not officially increased the price of cement," Thapa said, adding, "My company itself sold cement at a loss of Rs 70/80 per bag in July/August."</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"">He said that the industry which was producing at a loss may have opted to increase the price. He said that although the construction season has started, the demand for cement in the market has not increased significantly.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19488', 'image' => '20231218031519_cementtttt.jpg', 'article_date' => '2023-12-18 15:14:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19759', 'article_category_id' => '1', 'title' => 'Agencies Government Announced to Scrap Still Functional', 'sub_title' => '', 'summary' => 'December 18: While announcing the budget for the current fiscal year on May 29, the government had announced to scrap more than 20 agencies saying that it would cut down public expenditure. However, those bodies are still functioning.', '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"">December 18: While announcing the budget for the current fiscal year on May 29, the government had announced to scrap more than </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""> agencies saying that it would cut down public expenditure. However, those bodies are still functioning. </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"">Those institutions are still operational due to the government’s lack of interest in implementing the announcement made in the budget. Also, the employees have not co-operated with the government fearing that they might lose the facilities they have been enjoying so far.</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"">Even though the government has initiated the process of revoking those agencies, it is yet to decide about the merger of those agencies with another one. The government is still confused about what will happen to the employees, assets and liabilities of those agencies after the decision to scrap them. This has exposed the government's style of making hasty announcements but not working effectively. </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 agencies that were said to be scrapped have been authorized to spend the budget until mid-December. It is unclear what will happen next.</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"">One of the bodies that the government announced to scrap is the Nepal Intermodal Transport Development Committee. The committee is still active even though the government said in the budget that Nepal Transport and Warehousing Company Limited will do its work. There are </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""> staffers in the committee, from the executive director to assistants. </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, said that the committee is still active now because the government announced to scrap the bodies without proper homework.</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 says that it was a mistake to take a decision without being clear on why and for what reasons the bodies should be scrapped. </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 even though a task force led by the joint secretary of the Ministry of Industry, Commerce and Supplies had submitted a report to merge it with a transport company, he had written a note of dissent. Although the government has started the process for cancellation of the committee, it has not been able to do so.</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"">Another agency that the government announced to abolish is the National Dairy Development Board. As per the announcement made by the government, the board will be abolished and its work including regulations, procedures and studies and research would be carried out by the relevant ministries. </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 board is still functional. Instead, the employees there have intensified their lobbying to prevent it from being scrapped. Due to lobbying, the board has received the same budget as it used to get before. </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"">Executive Director of the board, Balak Chaudhary, says that the board is still working on the study and research as well as formulating regulations and procedures. He says that he is not aware of why the government put the board in the list of cancellation. Chaudhary said that the Minister for Agriculture himself has stood against abolishing the board and he is confident that the board will remain as it is.</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 had also announced to abolish the District Election Office. It caused an uproar within days of the government announcing the decision. Since then, the government has backed away from implementing the decision. At that time, after the opposition parties blocked the Parliament, Finance Minister Dr Prakash Sharan Mahat stood on the rostrum of the House of Representatives and expressed his commitment to maintain the status of the district election offices despite the announcement to scrap them.</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 effectively ruled out the election offices being scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19487', 'image' => '20231218013002_20230714023452_1683767264.jpg', 'article_date' => '2023-12-18 13:28:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19758', 'article_category_id' => '1', 'title' => 'Four Cement Industries Operating in Bara-Parsa Industrial Corridor Shut Down', 'sub_title' => '', 'summary' => 'December 18: More than 500 workers working in cement industries operating in the Bara-Parsa industrial corridor have become unemployed due to the closure of four cement industries.', '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"">December 18: More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers working in cement industries operating in the Bara-Parsa industrial corridor have become unemployed due to the closure of four cement industries. </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"">International Cement, Bishwakarma Cement, Krishna Cement and RMC Cement operating in the biggest economic corridor of the country have stopped production due to economic recession, and the workers and employees working there have become unemployed.</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 of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries operating in the corridor have been closed. Anil Agarwal, president of Birgunj chapter of the FNCCI and owner of Shree Cement Udyog, informed that the rest of the industries are also in a state of closure. According to him, the problem has arisen due to high interest rate charged by banks, lack of infrastructure development and non-payment of construction works. Agarwal said that some industries shut down due to the drop in demand for cement.</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"">India has been charging a tax of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</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"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per ton of clinker which it had been providing free of charge to the Nepali cement industry earlier. Agrawal says that it is necessary for the government to pay attention to this issue. According to the industrialists, Nepali cement can be exported to India if the government takes the initiative to provide the Indian quality mark BIS, which Nepali cement industry has been demanding for years. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19486', 'image' => '20231218122632_1702812532.jpg', 'article_date' => '2023-12-18 12:25:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19757', 'article_category_id' => '1', 'title' => 'Twelve Years On, Construction of Tamor Bridge yet to Complete ', 'sub_title' => '', 'summary' => 'December 18: Construction of a concrete bridge over the Tamor River in eastern Nepal is yet to be completed even though 12 years have elapsed since the signing of its contract. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 18: Construction of a concrete bridge over the Tamor River in eastern Nepal is yet to be completed even though 12 years have elapsed since the signing of its contract. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the bridge linking Terhathum and Panchthar districts has not gained momentum. It is uncertain how long it will take to complete the construction of the bridge. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">One has to travel 116 kilometers to reach Dharan from Myanglung via Basantapur, Sidhuwa, Hile and Dhankuta. After the construction of the bridge, Dharan can be reached directly through Tamor corridor, which will cut short the time by half.</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"">Due to the inordinate delay in the construction work, the residents of Kummayak of Panchthar have to walk seven to eight hours carrying materials on their backs to reach the Friday weekly market at Hatia, Myanglung of Tehrathum. </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"">Hatia is near Kummayak Rural Municipality in Panchthar district. The goods produced in the village are taken to the Friday market at Hatia of Myanglung for sale. The traders return home with soap, salt, oil, clothes and clothes on their backs from Myanglung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Thapa, who had come to sell almonds from Bijuwapani of Kummayak rural municipality to Myanglung in the Friday market, said, "We feel that we would not have had to carry a heavy load if the bridge had been constructed." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had signed a contract with Swachchhanda Contractor Company in June 2011 for the construction of the bridge at a cost of Rs 130 million. As per the agreement, the company was supposed to complete the construction of the bridge by July 2018. Chief of the Road Division Office, Dhankuta, Ram Kumar Dev, said only 50 percent of the work of the bridge, which is 3 meters wide and 157 meters long, has been completed so far. </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"">“Out of the five pillars, only four have been constructed. We are extending the construction deadline till mid-July 2024", he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The contractor company's representative Ajay Lamichhane said that the project was delayed because there was no road leading to the bridge from Myanglung when the construction of the bridge started. “It took time to build the road, which was necessary to transport construction materials. Therefore, the construction of the bridge was delayed,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arjan Dhungana of Myanglung and Dik Bahadur Karki of Laligurans municipality had lodged a complaint with the Commission for the Investigation of Abuse of Authority (CIAA) accusing the authorities concerned of misappropriating funds in the name of the project. Local residents of Myanglung have been putting pressure on the Myanglung Municipality and the District Administration Office, Tehrathum, by forming a committee to press for the timely construction of the bridge over the Tamor River. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19485', 'image' => '20231218112320_Bridge_over_tamor_river_at_Panchthar_-_panoramio.jpg', 'article_date' => '2023-12-18 11:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19756', 'article_category_id' => '1', 'title' => 'SSB Obstructing Blacktopping of Postal Highway in Kanchanpur: Minister Jwala', 'sub_title' => '', 'summary' => 'December 18: Minister for Physical Infrastructure and Transport, Prakash Jwala, has said that the Indian Seema Suraksha Bal (SSB) has been causing obstructions in the blacktopping of the Postal Highway in far western parts of Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 18: Minister for Physical Infrastructure and Transport, Prakash Jwala, has said that the Indian Seema Suraksha Bal (SSB) has been causing obstructions in the blacktopping of the Postal Highway in far western parts of Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During a meeting of the Delegated Management and Government Assurance Committee of the National Assembly (NA) on Sunday, the minister talked about challenges in completing the project due to the non-cooperation from the SSB. He said that blacktopping has been hampered in the Belauri-Pachui area in Kanchanpur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Jwala said there are some issues regarding border disputes in the given area and various initiations from the official channel to ease the situation for the highway construction have yielded no results. The Postal Highway is being developed by connecting 21 districts in the Terai from east to west. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee, a few days back, visited the area and the minister was summoned to the meeting on Sunday to take stock of the government efforts towards the project implementation. According to Minister Jwala, the Foreign Ministry has been requested to facilitate this matter. He also called for efforts from authorities concerned to address the issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Postal Highway Directorate’s Director Ajay Kumar Mul apprised the meeting that work in 60 kilometers in Kanchanpur has been divided into three clusters (each cluster measuring 20 kilometers) and the blacktopping is being carried out. Border disputes have hampered the works along the 1,400 meter section of Belauri Pachui-Khapati river area. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> He said that there were no issues while the preparations for the blacktopping were done. The SSB intervened while graveling works were about to start for the blacktopping, citing the area lies on the no man's land. The Survey Office and Department were also apprised of this development by the road project. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the project, a diplomatic initiation is necessary to sort out the issue. The exact location of Pillar number 38 should be identified. Mul said they are waiting for a substantive direction from the government to proceed with the project implementation. The second cluster incorporating the Belauri-Pachai-Khapati River reports 80 percent physical progress. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the project faces issues for the project implementation in the 15 kilometers stretch of the third cluster as the area lies along the Shuklaphanta National Park. The transportation of construction materials and the construction works are restricted to daytime and it is challenging to transport construction equipment to the site as well. Initially, a budget of Rs 4.5 billion was ensured for the project, but the cost is estimated to reach Rs 10 billion due to the delay in completion of the works. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19484', 'image' => '20231218101855_20230406110040_postal highway facebook.jpg', 'article_date' => '2023-12-18 10:17:58', '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
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$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' => '19770', 'article_category_id' => '1', 'title' => 'Contributors of SSF Troubled by Server Problem of the Fund', 'sub_title' => '', 'summary' => 'December 19: The server of Social Security Fund has started becoming problematic. ', '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"">December 19: The server of Social Security Fund has started becoming problematic. </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 number of beneficiaries of the state-sponsored scheme is increasing, the problem has started to appear in recent days. </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 started affecting the contributors while making claims for refund after visiting the hospital for treatment. </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"">On Monday, Bijay Nepal reached Old Baneshwar-based Frontline Hospital for treatment. He tried to purchase medicine as recommended by the doctor at a discount rate as guaranteed by the Social Security Fund but failed to get the service. The pharmacy staff said there was a problem with the SSF served and asked him to take the medicine without any discount. He returned empty-handed saying that he would take the medicine later. </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"">Other contributors who went to the National Trauma Center last Thursday also faced a similar problem. Contributor Ramesh Sharma said that the center refused to give medicine after treatment saying that there was a problem with the server. Like him, many others have also complained of facing the same predicament.</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"">Hospitals have been saying that the server of the SSF is having frequent problems in the last few days. Sometimes, the problem lasts throughout the day. Beneficiaries have been affected by the malfunctioning of the SSF server.</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 fund, about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">466,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers in the formal sector working in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18,504</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> establishments have been listed in the social security scheme of the SSF as of December 16</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"">Likewise, the number of contributors who have gone for foreign employment as well as those from the informal sector and self-employed has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">985</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"">000</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 Social Security Act has a provision that formal and informal sector workers and self-employed persons can be included in the social security scheme of the government. This has broadened the scope of the fund.</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 details kept by the fund on its website, the contributors of the social security scheme get treatment services from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">71</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hospitals across the country. The SSF has signed agreements with Bir Hospital, Tribhuvan University Teaching Hospital, Shahid Gangalal National Heart Center and other hospitals in Kathmandu. </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"">When taking services from those hospitals, the beneficiary has to pay only </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""> percent of the cost of the treatment. Although the fund claims that the contributors will be free from the hassle of making claim for the medical treatment, health and maternity protection plan and accident and disability protection plan provided by the fund by taking benefit directly from hospitals that operate online services, the contributors are now facing problems due to the malfunction of the SSF server.</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 Section </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""> of the Social Security Act, the SSF facilitates its contributors under various schemes such as drug treatment and health protection scheme, maternity protection scheme, accident protection scheme, disability protection scheme, old age protection scheme, dependent family protection scheme, unemployment assistance scheme, as well as other social security schemes specified by the fund.</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 scheme to cover all treatment expenses under OPD and IPD services under the facility of drug treatment, health and maternity protection scheme. Under this scheme, the contributor can claim the doctor's consultation service and all the treatment expenses, the expenses according to the medicine bill, the regular pregnancy test of the female contributor or the contributor's wife and the maternity treatment up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> weeks, the treatment expenses of a child up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months after birth.</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, there is a provision to claim money for maternity leave (facility), claim money for sick leave (facility), maternity care expenses. Limits have been fixed within this scheme. There is a provision that OPD service recipients can receive </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the funds from the SSF’s treatment expenses which covers up to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in a fiscal year. The remaining </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""> percent of the amount has to be borne by the contributor.</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 also a provision that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the hospital admission expenses up to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</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"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">in one fiscal year for those taking IPD services will be paid directly from the fund to the hospital where they are admitted and the remaining </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""> percent should be borne by the contributors. All these services should be taken online.</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"">When the increase in the number of contributors, the service seekers have started to suffer due to weakness in the server. Officials of the Social Security Fund say that there are occasional problems with the servers and they resolve them as soon as possible. </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 Bivek Panthi, deputy executive director of the fund, they resolve the problem immediately.</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"">"Another reason for the interruption of the service is the problem in the server of the hospital," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19498', 'image' => '20231219033348_SSF (1).jpg', 'article_date' => '2023-12-19 15:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19769', 'article_category_id' => '1', 'title' => 'Health Insurance Programme yet to Start in 3 Local Units of KTM despite Nationwide Implementation', 'sub_title' => '', 'summary' => 'December 19: The nationwide health insurance programme launched by the government is yet to start in three local levels of Kathmandu district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 19: The nationwide health insurance programme launched by the government is yet to start in three local levels of Kathmandu district. The Kathmandu metropolis, Budhanilkantha Municipality and the Nagarjun Municipality have not yet implemented the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In nearby Lalitpur metropolis, Prime Minister Pushpa Kamal Dahal inaugurated the programme on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Introduced in 2072 BS, the programme aims to provide accessible healthcare services to all citizens. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Health Insurance Board's information officer, Om Kumari Kandel, said the failure to fix the first service points in three local levels has caused problems in implementing the programme. Major central hospitals in the Kathmandu Valley see a high influx of referral cases, making it impractical for them to serve as the first service points in terms of getting medical care under the insurance scheme. The respective governments are expected to fix the matter and once they determine the locations, the programme will be implemented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital, Tribhuvan University Teaching Hospital, Patan Academy of Health Sciences, Shukraraj Tropical and Infectious Disease Hospital and Civil Service Hospital are already overwhelmed by referral cases from other first service points and they are unwilling to act as the first service points for the three local levels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu metropolis health department Chief Ram Prasad Paudel said they are in touch with the Board to find a concrete solution to implement the programme. He said that ward office-based Urban Health Promotion Centre will serve as the first service points in case of the metropolis. The KMC is likely to reach an agreement with the board in this regard within a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, the Board has been facilitating the implementation of the health insurance programme in 77 districts, providing free treatment services to an insured family up to Rs 100,000. The yearly insurance premium per family is Rs 3,500. For families with more than five members, an additional amount of Rs 700 is chargeable per head. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19497', 'image' => '20231219025308_health insurance.jpg', 'article_date' => '2023-12-19 14:51:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19768', 'article_category_id' => '1', 'title' => 'Interest Rates of Treasury Bills up after NRB Mopped Excess Liquidity', 'sub_title' => '', 'summary' => 'December 19: While the interest rates of banks and financial institutions are declining, the interest rates of treasury bills have increased. ', '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"">December 19: While the interest rates of banks and financial institutions are declining, the interest rates of treasury bills have increased. The interest rates of treasury bills have increased after Nepal Rastra Bank continuously mopped excess liquidity from the market to implement the interest rate corridor.</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"">On Monday, Rastra Bank called for bids to renew the 28-day treasury bills worth Rs 8 billion and 182-day treasury bills worth Rs 6.33 billion. The average interest rate of 28-day treasury bills has been fixed at 2.49% and that of182-day Treasury Bills at 3.84%. Earlier, the average interest rate of 28-day treasury bills issued on November 28 was 1.75% and that of 182-day treasury issued on December 12 was 3.76%.</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"">On Monday, the government has returned the principal of 91-day treasury bills worth Rs 9.53 billion and 364-day treasury bills worth Rs 2 billion after the maturity period.</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 central bank has reduced the policy rates through the first quarterly review of the monetary policy of the current fiscal year, the banks have also reduced the interest rates starting from mid-December. However, the interest rate of treasury bills increased on Monday after the central bank continuously mopped liquidity from the market.</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 Rastra Bank has been mopping excess liquidity through deposit collection tools since mid-November. As of Sunday, the central bank has raised Rs 137. 25 billion from the market by issuing deposit collection tools 10 times. Of that, Rs 75 billion have matured and returned to the market. The central bank is again issuing a 14-day deposit collection tool worth Rs 10 billion on Tuesday. </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 the central bank has tried to maintain the interbank rate according to the limit of the interest rate corridor by mopping the liquidity of the financial system, it is still below the target limit.</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 average interbank interest rate as of mid-December is 2.72 percent. To maintain the interest rate corridor limit, the average interbank interest rate should be at least 3 percent. There is more liquidity in the financial system due to lack of credit flow compared to deposit collection. By mid-December, banks have collected Rs 6010 billion in deposits and disbursed Rs 4995 billion in loans. During this period, the average credit to deposit ratio (CD ratio) of banks is 80.34 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, the banks are in a position to extend additional loans of up to Rs 600 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19496', 'image' => '20231219015410_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-12-19 13:53:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19767', 'article_category_id' => '1', 'title' => 'NEA Fails to Lay Underground Wires in Four Years', 'sub_title' => '', 'summary' => 'December 19: Nepal Electricity Authority had started the work of laying underground electric cables in the Kathmandu Valley four years ago with the aim of beautifying the city and reducing the damage caused to the electric poles by wind.', '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"">December 19: Nepal Electricity Authority had started the work of laying underground electric cables in the Kathmandu Valley four years ago with the aim of beautifying the city and reducing the damage caused to the electric poles by wind. However, the work was halted towards the end of last fiscal 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:"Arial","sans-serif"">The NEA had set a target of completing the work in two and a half years. However, it has not been able to finish the work even in four years. As per the revised target, the NEA was supposed to lay underground cables in all the areas of the valley within last July. The deadline has been extended twice since the work could not be completed within the specified time.</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"">Tara Prasad Pradhan, deputy executive director of the NEA’s Project Management Directorate, said that the work was not completed on time due to recurring obstacles. He said that the work of laying underground cables has been stopped since June/July. </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 Pradhan, they are currently connecting the underground cables to individual households in places where the work of laying the cables has already been completed. However, the work of digging road and laying new underground cables has been stopped for now.</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"">Pradhan said that the work was stopped because the Department of Roads did not give permission to dig the roads in new places. </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"">"Earlier, the department had given permission to dig the road on condition that the NEA deposited </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""> percent of the cost of rebuilding the road for laying the underground wire. Now they are asking for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the cost,'' Pradhan said. </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 the NEA has been coordination with the department to sort out the issue. However, he said that it is not possible to say exactly when the work will start.</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 has so far completed </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent work of laying underground wires that fall under the Maharajgunj distribution center. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent work under Ratnapark distribution center, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent under Kirtipur, Baneshwar, Kuleshwar and Tripureshwar distribution centers have also been completed. The authority says that the work is incomplete in most of the places because the NEA cannot dig the road.</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 NEA has been saying that it cannot deposit more than </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""> percent of the cost, but the Department of Roads has maintained its stance of hundred percent deposits to cover the repair 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"">Arjun Prasad Aryal, head of the Kathmandu Valley Road Expansion Project, said that the proposal to deposit </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the cost of reconstruction has been forwarded as the NEA has been digging the road to lay underground wire haphazardly and leaves the work incomplete.</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"">An Indian construction company KEI Industries Limited was entrusted with the responsibility of laying the underground cables in Maharajgunj and Ratnapark distribution centers cables on March </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">5, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">201</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9. The company was given </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">months to lay the underground wires. The deadline was extended by </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 after the company failed to complete the work within the stipulated time. After the work could not be completed even within the extended deadline, the company was given another eight months in January to complete the work. Even the extended deadline has expired but the work has not been completed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19495', 'image' => '20231219124741_BimalbahadurBista_KTM_RSS_30_linevumigatgardai.JPG', 'article_date' => '2023-12-19 12:47:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19766', 'article_category_id' => '1', 'title' => 'Social Media Influencers Bearing the Brunt of TikTok Ban in Nepal', 'sub_title' => '', 'summary' => 'December 19: Anjana Aryal went from homemaker to entrepreneur by sharing recipes on TikTok, but her lucrative business collapsed last month when the Government of Nepal banned the Chinese-owned short video app, AFP reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 19: Anjana Aryal went from homemaker to entrepreneur by sharing recipes on TikTok, but her lucrative business collapsed last month when the Government of Nepal banned the Chinese-owned short video app, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Filming with her mobile phone in one hand and cooking with the other, Aryal rapidly became a social media star in Nepal last year, garnering millions of views from a following of nearly 600,000 people, added the French news agency.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">That all came to a sudden halt when Nepal banned TikTok to purportedly to protect "social harmony", following similar restrictions imposed in other countries on concerns over data security, obscene content and its owner's alleged ties to the Chinese government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"My life changed a lot because of TikTok, a lot," Aryal, 39, told AFP from her home in Kathmandu. "So many recognise me because of TikTok wherever I go."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, she earned nearly US$3,000 from endorsement deals just in October, more than double Nepal's average yearly income.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Encouraged by her audience, Aryal also started a business selling her own brand of pickles, which saw her inbox flooded with orders. But since the ban, Aryal and other prominent Nepali content creators have seen their revenue streams dry up, jeopardising their livelihoods, added AFP.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"People were earning, running businesses or just being entertained on TikTok. Everyone has been affected now and they don't know what to do," AFP quoted Aryal as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Owned by Beijing-based ByteDance, TikTok is one of the most popular social media platforms on the planet with more than one billion users. Its explosive growth has given its content creators and influencers an immense audience, and its editing features and AI-powered algorithm have proved particularly attractive, according to the news report prepared by the French news agency.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“But the algorithm is opaque and often accused of putting users into content silos, and the platform has also been blamed for spreading disinformation. It has faced intense scrutiny in the United States and other nations over user data security and the company's alleged ties to Beijing. Multiple countries have sought to tighten controls on TikTok, and the platform has been banned in neighbouring India.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Growing criticism of the app has worried influencers around the world.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Some, such as those in Pakistan, have lost income because of periodic government restrictions on TikTok, AFP reported, adding, “Others in the United States have voiced fears to local media about losing thousands of dollars in income if bans are enforced.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Government of Nepal justified its ban on the platform by accusing it of damaging the Himalayan republic's social fabric. It came days before a huge rally called by a prominent businessman Durga Prasain who was using TikTok to organise a campaign demanding the reinstatement of Nepal's monarchy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">AFP reported that dozens of content creators staged a rally in Kathmandu demanding the ban be lifted last month.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Advocate Dinesh Tripathi, who has challenged the decision in court, said the ban was an attack on people's freedom of speech because the government was fearful of "dissenting voices".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The state's first and foremost duty is to facilitate the people to exercise their rights and freedom, not prohibit it," AFP quoted Tripathi as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Manish Adhikari, who uses TikTok to discuss cars and Nepali start-ups, told AFP he had several endorsement deals scuttled by the ban.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Brands started to call me... and I wondered if I was getting out of business, is my work going to stop?" Adhikari said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Adhikari has shifted to Instagram but the views and followings are a fraction of his earlier audience.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"I lost all my audience because I was not as active on any other platform," he said. "Now I have to start from zero."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are around 2.2 million TikTok users among Nepal's 30 million people, according to the Internet Service Providers Association of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ban has reportedly toppled a market with an estimated worth in excess of $5 million each year for advertisers and content creators. – AFP/RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19494', 'image' => '20231219120727_anjana - Copy.jpg', 'article_date' => '2023-12-19 11:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19765', 'article_category_id' => '1', 'title' => 'Handicraft Fair Sees Transactions worth Rs 20 Million ', 'sub_title' => '', 'summary' => 'December 19: The 20th Handicraft Trade Fair held in the capital from December 14 to 18 made transactions worth Rs 20 million. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 19: The 20th Handicraft Trade Fair held in the capital from December 14 to 18 made transactions worth Rs 20 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Handicraft Associations of Nepal shared that the fair was organized to promote international market for Nepali handicraft products. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fair saw participation of province and district-level handicraft associations as well as commodity associations showcasing various products including jewelry, cotton cloths, pashmina, leather products, natural fibres, and bamboo items. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There were nearly 120 stalls in the event which also aimed at fostering commercial relations between national entrepreneurs and importers of handicraft products. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Minister for Industry of Bagmati Province, Ram Krishna Chitrakar, said that handicraft products have contributed well to national economy and earned foreign currency as well. “As it helps develop entrepreneurship and creates jobs, it must be protected and expanded,” he underscored. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation shared that Nepal has been exporting handicraft products to over 60 countries. The market of Nepal’s handicraft products is worth Rs 24 billion, while nearly 1.1 million people are involved in this sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been exporting handicraft products worth Rs 12 billion in average a year. -- RSS </span></span></p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19493', 'image' => '20231219105218_RS_KTM-IMG_20231217_133213.jpg', 'article_date' => '2023-12-19 10:51:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19764', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1 Billion for Temporary Housing in Quake-Hit Districts', 'sub_title' => '', 'summary' => 'The government has disbursed Rs 1 billion to facilitate the construction of temporary housing for people affected by the earthquake that struck on November 3. The allocation, sanctioned by the Finance Ministry, aims to provide swift relief to those impacted by the earthquake.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 18: The government has disbursed Rs 1 billion to facilitate the construction of temporary housing for people affected by the earthquake that struck Jajarkot and surrounding districts on November 3. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The allocation, sanctioned by the Finance Ministry, aims to provide swift relief to those impacted by the earthquake.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the National Disaster Risk Reduction and Management Authority, Rs 930 million has already been dispatched to the respective districts as of Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Anil Pokhrel, the Chief Executive Officer of the Authority, stated, "The Finance Ministry released Rs 1 billion on Sunday, and today we sent Rs 930 million. The distribution aligns with the government's priority to support individuals affected by the earthquake."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Following a decision made during the cabinet meeting on November 13, the Finance Ministry earmarked Rs 1 billion for this purpose, out of the total Rs 10 billion designated for earthquake relief.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> An allocation breakdown reveals that Rs 540 million was directed to Jajarkot, Rs 340 million to Rukum Paschim, and Rs 50 million to Salyan.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This recent disbursement supplements an earlier allocation of Rs 1.41 billion by the Authority for temporary housing construction.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> As per the latest data, 60,337 individuals are identified as beneficiaries of the relief. (RSS)</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19492', 'image' => '20231219060545_collage (4).jpg', 'article_date' => '2023-12-19 06:03:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19763', 'article_category_id' => '1', 'title' => 'BFIs have Loanable Fund of almost Rs 600 Billion', 'sub_title' => '', 'summary' => 'December 18: Banks and financial institutions (BFIs) at present have the capacity to extend additional loans of around Rs 600 billion.', '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"">December 18: Banks and financial institutions (BFIs) at present have the capacity to extend additional loans of around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. Due to the increase in deposit collection along with the increase in remittance inflow and economic activities, there is excess liquidity in the banking system.</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 Nepal Rastra Bank (NRB), the total deposits of banks and financial institutions have exceeded Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. However, the credit-deposit ratio (CD ratio) of banks has decreased due to non-expansion of credit compared to the increase in bank deposits. </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"">Until last Thursday, banks and financial institutions had deposits of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6003</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion and had extended loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4992</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. In the current fiscal year, when banks collected deposits of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">232</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, credit flow expanded by only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">114</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</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"">Due to the increase in deposit collection, the CD ratio of banks has also fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to the provision of the central bank, commercial banks can give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. As per this provision, banks now have the capacity to provide additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">578</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</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 a report prepared by NRB, the remittance inflow has increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">26.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">477</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"">96</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion as of mid-November of the current fiscal year. Similarly, during this period, income from tourism activities also increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. The increase in government spending also had a positive effect on the growth of bank deposits.</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 central bank has already reduced policy rates to increase credit flow through the first quarterly review of the monetary policy. In the current year, loan disbursement is projected to increase by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, but it has only increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent by mid-November.</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 central bank has mentioned in the monetary policy review that the growth of deposits is satisfactory and interest rates are decreasing, so credit expansion will improve by the end of the current fiscal 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:"Arial","sans-serif"">Along with the reduction of the policy rates by the central bank, BFIs have also reduced the interest rates on deposits and emphasized on increasing credit flow. With excess liquidity, interbank and short-term interest rates have also fallen to a low point. On Thursday, the interest rate of interbank transactions remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.62</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"">When the interbank interest rate fell below </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in mid-November, the central bank mopped excess liquidity through deposit collection tools. As of Sunday, the NRB has raised Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">137</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"">25</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from the market by issuing deposit collection tools </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""> times. Of that, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion has matured and returned to the market. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19491', 'image' => '20231218040412_Banks - Copy.jpg', 'article_date' => '2023-12-18 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19762', 'article_category_id' => '1', 'title' => 'NEPSE Surges by 38.14 Points, Closing at 2060.49', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed an impressive upward trend as its index surged by 38.14 points or 1.89%, reaching a closing value of 2060.49 on the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> December 18: The Nepal Stock Exchange (NEPSE) witnessed an impressive upward trend as its index surged by 38.14 points or 1.89%, reaching a closing value of 2060.49 on the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, a total of 305 scrips were actively traded, involving 113,693 transactions and a substantial volume of 21,497,619 shares. The overall turnover for the day amounted to Rs 6.86 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himal Dolakha Hydropower Company Limited (HDHPC) dominated the trading floor with the highest turnover, reaching Rs 26 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Notably, six companies, including Bottlers Nepal (BNL), Suryajyoti Life Insurance Company Limited (SJLIC), and Swarojgar Laghibitta Bittiya Sanstha (SLBBL), experienced a remarkable 10% gain, triggering positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Power Partners Limited (HPPL) faced the highest loss, recording a decline of 7.86%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Examining the sectoral performance, all sectors closed in the green zone, with the Microfinance Index leading the gains at 5.53%. However, the HydroPower Index was an exception, incurring a minor loss of 0.33%.</span></span></p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19490', 'image' => '20231218034332_collage (1).jpg', 'article_date' => '2023-12-18 15:42:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19761', 'article_category_id' => '1', 'title' => 'Government’s Budget Deficit Crosses Rs 70 Billion', 'sub_title' => '', 'summary' => 'December 18: The government’s budget deficit has exceeded Rs 70.44 billion in the first five months of the current fiscal year.', '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"">December 18: The government’s budget deficit has exceeded Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</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"">44</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion in the first five months of the current fiscal year. As of mid-December, the government has spent a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">452</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"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion while it has collected revenue worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">382</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"">54</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion during this period.</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 records of the Financial Comptroller General Office, which keeps track of the government’s income and expenditure, the expenditure of the government is more than the income during the first five months of the current fiscal 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:"Arial","sans-serif"">During this period, the government’s revenue collection stood at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target while the budget expenditure was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.87</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target. </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"">For the current fiscal year, the government had announced a total budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</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"">31</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. However, the government has not been able to spend the budget according to the target, nor has the revenue been collected. </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 has been reducing the size of the budget through half-yearly review after announcing a large budget and not being able to meet the target.</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 past five months, the government's recurrent expenditure has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33.53</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, capital expenditure has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.94</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and the expenditure towards financial management has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18.52</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"">The government has allocated a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1141</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"">78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of current expenditure. So far, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">359</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"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under this heading. </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 government has spent only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion out of the allocated budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">302.7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of capital expenditure. </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 government has set aside an annual budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">307</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"">45</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion for financial management. So far, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56</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"">94</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion under this heading. </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 data of the FCGO, the government’s expenditure towards financial management was more than the capital expenditure by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last month.</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’s revenue collection is not in line with the target so far. In the current fiscal year, the government has set a target of collecting revenue of Rs 1422.54 billion. This year, the government has set a target of receiving Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49.94</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in foreign grants but has received only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion so far, which is only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.52</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target.</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 facts show that government’s targets has been affected by the recession in economy but government officials claim that the economy has started to improve.</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"">Just last week, Finance Minister Dr Prakash Sharan Mahat said in a press conference at the Ministry of Finance that the economic activities of the country have started to run smoothly. Although the finance minister has said that the country's economy is improving in various fronts, the private sector is not ready to accept it. The private sector is saying that a lot of policy changes are needed to improve the economy.</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"">Krishna Prasad Sharma, president of Lumbini Province chapter of the Federation of Nepalese Chamber of Commerce and Industry, says that the problems faced by businessmen due to Covid-</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"">are still not resolved. According to him, even now the industries are not able to produce according to their capacity. </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"">Stakeholders says that they are in crisis as the government has created a situation of panic by imposing hefty taxes and is unwilling to take corrective measures.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19489', 'image' => '20231218034314_finance_ministry_copy1.jpg', 'article_date' => '2023-12-18 15:42:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19760', 'article_category_id' => '1', 'title' => 'Price of Cement Rises by Rs 100 Per Bag', 'sub_title' => 'Construction Entrepreneurs Demand Cement Industry to Stop Carteling', 'summary' => 'December 18: Cement industries have increased the price of Ordinary Portland Cement (OPC) by Rs 100 per bag during the peak season 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:"Nirmala UI","sans-serif"">December 18: Cement industries have increased the price of Ordinary Portland Cement (OPC) by Rs 100 per bag during the peak season of construction. The Federation of Contractors Association of Nepal has said that its attention has been drawn to the decision of the cement industry to increase the price.</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 federation has objected to the price hike accusing the cement industry of increasing the price through 'cartel'. </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"">Ravi Singh, president of the federation, said that cement industries always increase the price when it is the peak time for construction work. "We had bought cement by paying the factory price of Rs 400 per bag, but the cement industry decided to increase the price by Rs 100 per bag just two to three days ago," said Singh.</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"">Singh said that it would be difficult to work at a time when the government is yet to release their due payment and the cement industry increases the price. </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"">Now the industry has fixed the price of cement from a minimum of Rs 550 to a maximum of Rs 800 per sack. Construction entrepreneurs are complaining that the price of cement has been increased even though there is no increase in the price of raw materials related to cement production as well as the fuel price.</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"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Our serious attention has been drawn to the fact that limited cement manufacturers have increased the price by more than Rs 100 per bag recently through cartel," the statement said, "This kind of unreasonable and unscientific price hike contrary to the policy of open market economy is not acceptable." </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 federation has mentioned that the financial burden has increased due to the increase in the cost of construction. The construction industry itself is on the verge of collapse due to the delay in payment of billions of rupees to the construction workers along with the complications seen in the extension of the project deadline. The federation has also demanded to cancel the price hike immediately.</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"">On the other hand, Dhruva Thapa, president of Nepal Cement Producers' Association, responded that it is natural for prices to increase as it is the construction season. </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 association has not officially increased the price of cement," Thapa said, adding, "My company itself sold cement at a loss of Rs 70/80 per bag in July/August."</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"">He said that the industry which was producing at a loss may have opted to increase the price. He said that although the construction season has started, the demand for cement in the market has not increased significantly.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19488', 'image' => '20231218031519_cementtttt.jpg', 'article_date' => '2023-12-18 15:14:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19759', 'article_category_id' => '1', 'title' => 'Agencies Government Announced to Scrap Still Functional', 'sub_title' => '', 'summary' => 'December 18: While announcing the budget for the current fiscal year on May 29, the government had announced to scrap more than 20 agencies saying that it would cut down public expenditure. However, those bodies are still functioning.', '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"">December 18: While announcing the budget for the current fiscal year on May 29, the government had announced to scrap more than </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""> agencies saying that it would cut down public expenditure. However, those bodies are still functioning. </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"">Those institutions are still operational due to the government’s lack of interest in implementing the announcement made in the budget. Also, the employees have not co-operated with the government fearing that they might lose the facilities they have been enjoying so far.</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"">Even though the government has initiated the process of revoking those agencies, it is yet to decide about the merger of those agencies with another one. The government is still confused about what will happen to the employees, assets and liabilities of those agencies after the decision to scrap them. This has exposed the government's style of making hasty announcements but not working effectively. </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 agencies that were said to be scrapped have been authorized to spend the budget until mid-December. It is unclear what will happen next.</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"">One of the bodies that the government announced to scrap is the Nepal Intermodal Transport Development Committee. The committee is still active even though the government said in the budget that Nepal Transport and Warehousing Company Limited will do its work. There are </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""> staffers in the committee, from the executive director to assistants. </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, said that the committee is still active now because the government announced to scrap the bodies without proper homework.</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 says that it was a mistake to take a decision without being clear on why and for what reasons the bodies should be scrapped. </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 even though a task force led by the joint secretary of the Ministry of Industry, Commerce and Supplies had submitted a report to merge it with a transport company, he had written a note of dissent. Although the government has started the process for cancellation of the committee, it has not been able to do so.</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"">Another agency that the government announced to abolish is the National Dairy Development Board. As per the announcement made by the government, the board will be abolished and its work including regulations, procedures and studies and research would be carried out by the relevant ministries. </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 board is still functional. Instead, the employees there have intensified their lobbying to prevent it from being scrapped. Due to lobbying, the board has received the same budget as it used to get before. </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"">Executive Director of the board, Balak Chaudhary, says that the board is still working on the study and research as well as formulating regulations and procedures. He says that he is not aware of why the government put the board in the list of cancellation. Chaudhary said that the Minister for Agriculture himself has stood against abolishing the board and he is confident that the board will remain as it is.</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 had also announced to abolish the District Election Office. It caused an uproar within days of the government announcing the decision. Since then, the government has backed away from implementing the decision. At that time, after the opposition parties blocked the Parliament, Finance Minister Dr Prakash Sharan Mahat stood on the rostrum of the House of Representatives and expressed his commitment to maintain the status of the district election offices despite the announcement to scrap them.</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 effectively ruled out the election offices being scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19487', 'image' => '20231218013002_20230714023452_1683767264.jpg', 'article_date' => '2023-12-18 13:28:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19758', 'article_category_id' => '1', 'title' => 'Four Cement Industries Operating in Bara-Parsa Industrial Corridor Shut Down', 'sub_title' => '', 'summary' => 'December 18: More than 500 workers working in cement industries operating in the Bara-Parsa industrial corridor have become unemployed due to the closure of four cement industries.', '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"">December 18: More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers working in cement industries operating in the Bara-Parsa industrial corridor have become unemployed due to the closure of four cement industries. </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"">International Cement, Bishwakarma Cement, Krishna Cement and RMC Cement operating in the biggest economic corridor of the country have stopped production due to economic recession, and the workers and employees working there have become unemployed.</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 of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries operating in the corridor have been closed. Anil Agarwal, president of Birgunj chapter of the FNCCI and owner of Shree Cement Udyog, informed that the rest of the industries are also in a state of closure. According to him, the problem has arisen due to high interest rate charged by banks, lack of infrastructure development and non-payment of construction works. Agarwal said that some industries shut down due to the drop in demand for cement.</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"">India has been charging a tax of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</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"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per ton of clinker which it had been providing free of charge to the Nepali cement industry earlier. Agrawal says that it is necessary for the government to pay attention to this issue. According to the industrialists, Nepali cement can be exported to India if the government takes the initiative to provide the Indian quality mark BIS, which Nepali cement industry has been demanding for years. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19486', 'image' => '20231218122632_1702812532.jpg', 'article_date' => '2023-12-18 12:25:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19757', 'article_category_id' => '1', 'title' => 'Twelve Years On, Construction of Tamor Bridge yet to Complete ', 'sub_title' => '', 'summary' => 'December 18: Construction of a concrete bridge over the Tamor River in eastern Nepal is yet to be completed even though 12 years have elapsed since the signing of its contract. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 18: Construction of a concrete bridge over the Tamor River in eastern Nepal is yet to be completed even though 12 years have elapsed since the signing of its contract. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the bridge linking Terhathum and Panchthar districts has not gained momentum. It is uncertain how long it will take to complete the construction of the bridge. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">One has to travel 116 kilometers to reach Dharan from Myanglung via Basantapur, Sidhuwa, Hile and Dhankuta. After the construction of the bridge, Dharan can be reached directly through Tamor corridor, which will cut short the time by half.</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"">Due to the inordinate delay in the construction work, the residents of Kummayak of Panchthar have to walk seven to eight hours carrying materials on their backs to reach the Friday weekly market at Hatia, Myanglung of Tehrathum. </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"">Hatia is near Kummayak Rural Municipality in Panchthar district. The goods produced in the village are taken to the Friday market at Hatia of Myanglung for sale. The traders return home with soap, salt, oil, clothes and clothes on their backs from Myanglung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Thapa, who had come to sell almonds from Bijuwapani of Kummayak rural municipality to Myanglung in the Friday market, said, "We feel that we would not have had to carry a heavy load if the bridge had been constructed." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had signed a contract with Swachchhanda Contractor Company in June 2011 for the construction of the bridge at a cost of Rs 130 million. As per the agreement, the company was supposed to complete the construction of the bridge by July 2018. Chief of the Road Division Office, Dhankuta, Ram Kumar Dev, said only 50 percent of the work of the bridge, which is 3 meters wide and 157 meters long, has been completed so far. </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"">“Out of the five pillars, only four have been constructed. We are extending the construction deadline till mid-July 2024", he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The contractor company's representative Ajay Lamichhane said that the project was delayed because there was no road leading to the bridge from Myanglung when the construction of the bridge started. “It took time to build the road, which was necessary to transport construction materials. Therefore, the construction of the bridge was delayed,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arjan Dhungana of Myanglung and Dik Bahadur Karki of Laligurans municipality had lodged a complaint with the Commission for the Investigation of Abuse of Authority (CIAA) accusing the authorities concerned of misappropriating funds in the name of the project. Local residents of Myanglung have been putting pressure on the Myanglung Municipality and the District Administration Office, Tehrathum, by forming a committee to press for the timely construction of the bridge over the Tamor River. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19485', 'image' => '20231218112320_Bridge_over_tamor_river_at_Panchthar_-_panoramio.jpg', 'article_date' => '2023-12-18 11:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19756', 'article_category_id' => '1', 'title' => 'SSB Obstructing Blacktopping of Postal Highway in Kanchanpur: Minister Jwala', 'sub_title' => '', 'summary' => 'December 18: Minister for Physical Infrastructure and Transport, Prakash Jwala, has said that the Indian Seema Suraksha Bal (SSB) has been causing obstructions in the blacktopping of the Postal Highway in far western parts of Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 18: Minister for Physical Infrastructure and Transport, Prakash Jwala, has said that the Indian Seema Suraksha Bal (SSB) has been causing obstructions in the blacktopping of the Postal Highway in far western parts of Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During a meeting of the Delegated Management and Government Assurance Committee of the National Assembly (NA) on Sunday, the minister talked about challenges in completing the project due to the non-cooperation from the SSB. He said that blacktopping has been hampered in the Belauri-Pachui area in Kanchanpur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Jwala said there are some issues regarding border disputes in the given area and various initiations from the official channel to ease the situation for the highway construction have yielded no results. The Postal Highway is being developed by connecting 21 districts in the Terai from east to west. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee, a few days back, visited the area and the minister was summoned to the meeting on Sunday to take stock of the government efforts towards the project implementation. According to Minister Jwala, the Foreign Ministry has been requested to facilitate this matter. He also called for efforts from authorities concerned to address the issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Postal Highway Directorate’s Director Ajay Kumar Mul apprised the meeting that work in 60 kilometers in Kanchanpur has been divided into three clusters (each cluster measuring 20 kilometers) and the blacktopping is being carried out. Border disputes have hampered the works along the 1,400 meter section of Belauri Pachui-Khapati river area. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> He said that there were no issues while the preparations for the blacktopping were done. The SSB intervened while graveling works were about to start for the blacktopping, citing the area lies on the no man's land. The Survey Office and Department were also apprised of this development by the road project. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the project, a diplomatic initiation is necessary to sort out the issue. The exact location of Pillar number 38 should be identified. Mul said they are waiting for a substantive direction from the government to proceed with the project implementation. The second cluster incorporating the Belauri-Pachai-Khapati River reports 80 percent physical progress. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the project faces issues for the project implementation in the 15 kilometers stretch of the third cluster as the area lies along the Shuklaphanta National Park. The transportation of construction materials and the construction works are restricted to daytime and it is challenging to transport construction equipment to the site as well. Initially, a budget of Rs 4.5 billion was ensured for the project, but the cost is estimated to reach Rs 10 billion due to the delay in completion of the works. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19484', 'image' => '20231218101855_20230406110040_postal highway facebook.jpg', 'article_date' => '2023-12-18 10:17:58', '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:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 19: The server of Social Security Fund has started becoming problematic. </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 number of beneficiaries of the state-sponsored scheme is increasing, the problem has started to appear in recent days. </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 started affecting the contributors while making claims for refund after visiting the hospital for treatment. </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"">On Monday, Bijay Nepal reached Old Baneshwar-based Frontline Hospital for treatment. He tried to purchase medicine as recommended by the doctor at a discount rate as guaranteed by the Social Security Fund but failed to get the service. The pharmacy staff said there was a problem with the SSF served and asked him to take the medicine without any discount. He returned empty-handed saying that he would take the medicine later. </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"">Other contributors who went to the National Trauma Center last Thursday also faced a similar problem. Contributor Ramesh Sharma said that the center refused to give medicine after treatment saying that there was a problem with the server. Like him, many others have also complained of facing the same predicament.</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"">Hospitals have been saying that the server of the SSF is having frequent problems in the last few days. Sometimes, the problem lasts throughout the day. Beneficiaries have been affected by the malfunctioning of the SSF server.</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 fund, about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">466,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers in the formal sector working in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18,504</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> establishments have been listed in the social security scheme of the SSF as of December 16</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"">Likewise, the number of contributors who have gone for foreign employment as well as those from the informal sector and self-employed has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">985</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"">000</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 Social Security Act has a provision that formal and informal sector workers and self-employed persons can be included in the social security scheme of the government. This has broadened the scope of the fund.</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 details kept by the fund on its website, the contributors of the social security scheme get treatment services from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">71</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hospitals across the country. The SSF has signed agreements with Bir Hospital, Tribhuvan University Teaching Hospital, Shahid Gangalal National Heart Center and other hospitals in Kathmandu. </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"">When taking services from those hospitals, the beneficiary has to pay only </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""> percent of the cost of the treatment. Although the fund claims that the contributors will be free from the hassle of making claim for the medical treatment, health and maternity protection plan and accident and disability protection plan provided by the fund by taking benefit directly from hospitals that operate online services, the contributors are now facing problems due to the malfunction of the SSF server.</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 Section </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""> of the Social Security Act, the SSF facilitates its contributors under various schemes such as drug treatment and health protection scheme, maternity protection scheme, accident protection scheme, disability protection scheme, old age protection scheme, dependent family protection scheme, unemployment assistance scheme, as well as other social security schemes specified by the fund.</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 scheme to cover all treatment expenses under OPD and IPD services under the facility of drug treatment, health and maternity protection scheme. Under this scheme, the contributor can claim the doctor's consultation service and all the treatment expenses, the expenses according to the medicine bill, the regular pregnancy test of the female contributor or the contributor's wife and the maternity treatment up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> weeks, the treatment expenses of a child up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months after birth.</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, there is a provision to claim money for maternity leave (facility), claim money for sick leave (facility), maternity care expenses. Limits have been fixed within this scheme. There is a provision that OPD service recipients can receive </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the funds from the SSF’s treatment expenses which covers up to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in a fiscal year. The remaining </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""> percent of the amount has to be borne by the contributor.</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 also a provision that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the hospital admission expenses up to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</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"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">in one fiscal year for those taking IPD services will be paid directly from the fund to the hospital where they are admitted and the remaining </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""> percent should be borne by the contributors. All these services should be taken online.</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"">When the increase in the number of contributors, the service seekers have started to suffer due to weakness in the server. Officials of the Social Security Fund say that there are occasional problems with the servers and they resolve them as soon as possible. </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 Bivek Panthi, deputy executive director of the fund, they resolve the problem immediately.</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"">"Another reason for the interruption of the service is the problem in the server of the hospital," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19498', 'image' => '20231219033348_SSF (1).jpg', 'article_date' => '2023-12-19 15:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19769', 'article_category_id' => '1', 'title' => 'Health Insurance Programme yet to Start in 3 Local Units of KTM despite Nationwide Implementation', 'sub_title' => '', 'summary' => 'December 19: The nationwide health insurance programme launched by the government is yet to start in three local levels of Kathmandu district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 19: The nationwide health insurance programme launched by the government is yet to start in three local levels of Kathmandu district. The Kathmandu metropolis, Budhanilkantha Municipality and the Nagarjun Municipality have not yet implemented the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In nearby Lalitpur metropolis, Prime Minister Pushpa Kamal Dahal inaugurated the programme on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Introduced in 2072 BS, the programme aims to provide accessible healthcare services to all citizens. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Health Insurance Board's information officer, Om Kumari Kandel, said the failure to fix the first service points in three local levels has caused problems in implementing the programme. Major central hospitals in the Kathmandu Valley see a high influx of referral cases, making it impractical for them to serve as the first service points in terms of getting medical care under the insurance scheme. The respective governments are expected to fix the matter and once they determine the locations, the programme will be implemented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital, Tribhuvan University Teaching Hospital, Patan Academy of Health Sciences, Shukraraj Tropical and Infectious Disease Hospital and Civil Service Hospital are already overwhelmed by referral cases from other first service points and they are unwilling to act as the first service points for the three local levels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu metropolis health department Chief Ram Prasad Paudel said they are in touch with the Board to find a concrete solution to implement the programme. He said that ward office-based Urban Health Promotion Centre will serve as the first service points in case of the metropolis. The KMC is likely to reach an agreement with the board in this regard within a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, the Board has been facilitating the implementation of the health insurance programme in 77 districts, providing free treatment services to an insured family up to Rs 100,000. The yearly insurance premium per family is Rs 3,500. For families with more than five members, an additional amount of Rs 700 is chargeable per head. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19497', 'image' => '20231219025308_health insurance.jpg', 'article_date' => '2023-12-19 14:51:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19768', 'article_category_id' => '1', 'title' => 'Interest Rates of Treasury Bills up after NRB Mopped Excess Liquidity', 'sub_title' => '', 'summary' => 'December 19: While the interest rates of banks and financial institutions are declining, the interest rates of treasury bills have increased. ', '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"">December 19: While the interest rates of banks and financial institutions are declining, the interest rates of treasury bills have increased. The interest rates of treasury bills have increased after Nepal Rastra Bank continuously mopped excess liquidity from the market to implement the interest rate corridor.</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"">On Monday, Rastra Bank called for bids to renew the 28-day treasury bills worth Rs 8 billion and 182-day treasury bills worth Rs 6.33 billion. The average interest rate of 28-day treasury bills has been fixed at 2.49% and that of182-day Treasury Bills at 3.84%. Earlier, the average interest rate of 28-day treasury bills issued on November 28 was 1.75% and that of 182-day treasury issued on December 12 was 3.76%.</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"">On Monday, the government has returned the principal of 91-day treasury bills worth Rs 9.53 billion and 364-day treasury bills worth Rs 2 billion after the maturity period.</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 central bank has reduced the policy rates through the first quarterly review of the monetary policy of the current fiscal year, the banks have also reduced the interest rates starting from mid-December. However, the interest rate of treasury bills increased on Monday after the central bank continuously mopped liquidity from the market.</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 Rastra Bank has been mopping excess liquidity through deposit collection tools since mid-November. As of Sunday, the central bank has raised Rs 137. 25 billion from the market by issuing deposit collection tools 10 times. Of that, Rs 75 billion have matured and returned to the market. The central bank is again issuing a 14-day deposit collection tool worth Rs 10 billion on Tuesday. </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 the central bank has tried to maintain the interbank rate according to the limit of the interest rate corridor by mopping the liquidity of the financial system, it is still below the target limit.</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 average interbank interest rate as of mid-December is 2.72 percent. To maintain the interest rate corridor limit, the average interbank interest rate should be at least 3 percent. There is more liquidity in the financial system due to lack of credit flow compared to deposit collection. By mid-December, banks have collected Rs 6010 billion in deposits and disbursed Rs 4995 billion in loans. During this period, the average credit to deposit ratio (CD ratio) of banks is 80.34 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, the banks are in a position to extend additional loans of up to Rs 600 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19496', 'image' => '20231219015410_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-12-19 13:53:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19767', 'article_category_id' => '1', 'title' => 'NEA Fails to Lay Underground Wires in Four Years', 'sub_title' => '', 'summary' => 'December 19: Nepal Electricity Authority had started the work of laying underground electric cables in the Kathmandu Valley four years ago with the aim of beautifying the city and reducing the damage caused to the electric poles by wind.', '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"">December 19: Nepal Electricity Authority had started the work of laying underground electric cables in the Kathmandu Valley four years ago with the aim of beautifying the city and reducing the damage caused to the electric poles by wind. However, the work was halted towards the end of last fiscal 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:"Arial","sans-serif"">The NEA had set a target of completing the work in two and a half years. However, it has not been able to finish the work even in four years. As per the revised target, the NEA was supposed to lay underground cables in all the areas of the valley within last July. The deadline has been extended twice since the work could not be completed within the specified time.</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"">Tara Prasad Pradhan, deputy executive director of the NEA’s Project Management Directorate, said that the work was not completed on time due to recurring obstacles. He said that the work of laying underground cables has been stopped since June/July. </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 Pradhan, they are currently connecting the underground cables to individual households in places where the work of laying the cables has already been completed. However, the work of digging road and laying new underground cables has been stopped for now.</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"">Pradhan said that the work was stopped because the Department of Roads did not give permission to dig the roads in new places. </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"">"Earlier, the department had given permission to dig the road on condition that the NEA deposited </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""> percent of the cost of rebuilding the road for laying the underground wire. Now they are asking for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the cost,'' Pradhan said. </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 the NEA has been coordination with the department to sort out the issue. However, he said that it is not possible to say exactly when the work will start.</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 has so far completed </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent work of laying underground wires that fall under the Maharajgunj distribution center. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent work under Ratnapark distribution center, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent under Kirtipur, Baneshwar, Kuleshwar and Tripureshwar distribution centers have also been completed. The authority says that the work is incomplete in most of the places because the NEA cannot dig the road.</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 NEA has been saying that it cannot deposit more than </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""> percent of the cost, but the Department of Roads has maintained its stance of hundred percent deposits to cover the repair 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"">Arjun Prasad Aryal, head of the Kathmandu Valley Road Expansion Project, said that the proposal to deposit </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the cost of reconstruction has been forwarded as the NEA has been digging the road to lay underground wire haphazardly and leaves the work incomplete.</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"">An Indian construction company KEI Industries Limited was entrusted with the responsibility of laying the underground cables in Maharajgunj and Ratnapark distribution centers cables on March </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">5, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">201</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9. The company was given </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">months to lay the underground wires. The deadline was extended by </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 after the company failed to complete the work within the stipulated time. After the work could not be completed even within the extended deadline, the company was given another eight months in January to complete the work. Even the extended deadline has expired but the work has not been completed.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19495', 'image' => '20231219124741_BimalbahadurBista_KTM_RSS_30_linevumigatgardai.JPG', 'article_date' => '2023-12-19 12:47:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19766', 'article_category_id' => '1', 'title' => 'Social Media Influencers Bearing the Brunt of TikTok Ban in Nepal', 'sub_title' => '', 'summary' => 'December 19: Anjana Aryal went from homemaker to entrepreneur by sharing recipes on TikTok, but her lucrative business collapsed last month when the Government of Nepal banned the Chinese-owned short video app, AFP reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 19: Anjana Aryal went from homemaker to entrepreneur by sharing recipes on TikTok, but her lucrative business collapsed last month when the Government of Nepal banned the Chinese-owned short video app, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Filming with her mobile phone in one hand and cooking with the other, Aryal rapidly became a social media star in Nepal last year, garnering millions of views from a following of nearly 600,000 people, added the French news agency.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">That all came to a sudden halt when Nepal banned TikTok to purportedly to protect "social harmony", following similar restrictions imposed in other countries on concerns over data security, obscene content and its owner's alleged ties to the Chinese government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"My life changed a lot because of TikTok, a lot," Aryal, 39, told AFP from her home in Kathmandu. "So many recognise me because of TikTok wherever I go."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, she earned nearly US$3,000 from endorsement deals just in October, more than double Nepal's average yearly income.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Encouraged by her audience, Aryal also started a business selling her own brand of pickles, which saw her inbox flooded with orders. But since the ban, Aryal and other prominent Nepali content creators have seen their revenue streams dry up, jeopardising their livelihoods, added AFP.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"People were earning, running businesses or just being entertained on TikTok. Everyone has been affected now and they don't know what to do," AFP quoted Aryal as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Owned by Beijing-based ByteDance, TikTok is one of the most popular social media platforms on the planet with more than one billion users. Its explosive growth has given its content creators and influencers an immense audience, and its editing features and AI-powered algorithm have proved particularly attractive, according to the news report prepared by the French news agency.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“But the algorithm is opaque and often accused of putting users into content silos, and the platform has also been blamed for spreading disinformation. It has faced intense scrutiny in the United States and other nations over user data security and the company's alleged ties to Beijing. Multiple countries have sought to tighten controls on TikTok, and the platform has been banned in neighbouring India.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Growing criticism of the app has worried influencers around the world.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Some, such as those in Pakistan, have lost income because of periodic government restrictions on TikTok, AFP reported, adding, “Others in the United States have voiced fears to local media about losing thousands of dollars in income if bans are enforced.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Government of Nepal justified its ban on the platform by accusing it of damaging the Himalayan republic's social fabric. It came days before a huge rally called by a prominent businessman Durga Prasain who was using TikTok to organise a campaign demanding the reinstatement of Nepal's monarchy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">AFP reported that dozens of content creators staged a rally in Kathmandu demanding the ban be lifted last month.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Advocate Dinesh Tripathi, who has challenged the decision in court, said the ban was an attack on people's freedom of speech because the government was fearful of "dissenting voices".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The state's first and foremost duty is to facilitate the people to exercise their rights and freedom, not prohibit it," AFP quoted Tripathi as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Manish Adhikari, who uses TikTok to discuss cars and Nepali start-ups, told AFP he had several endorsement deals scuttled by the ban.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Brands started to call me... and I wondered if I was getting out of business, is my work going to stop?" Adhikari said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Adhikari has shifted to Instagram but the views and followings are a fraction of his earlier audience.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"I lost all my audience because I was not as active on any other platform," he said. "Now I have to start from zero."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are around 2.2 million TikTok users among Nepal's 30 million people, according to the Internet Service Providers Association of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ban has reportedly toppled a market with an estimated worth in excess of $5 million each year for advertisers and content creators. – AFP/RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19494', 'image' => '20231219120727_anjana - Copy.jpg', 'article_date' => '2023-12-19 11:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19765', 'article_category_id' => '1', 'title' => 'Handicraft Fair Sees Transactions worth Rs 20 Million ', 'sub_title' => '', 'summary' => 'December 19: The 20th Handicraft Trade Fair held in the capital from December 14 to 18 made transactions worth Rs 20 million. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 19: The 20th Handicraft Trade Fair held in the capital from December 14 to 18 made transactions worth Rs 20 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Handicraft Associations of Nepal shared that the fair was organized to promote international market for Nepali handicraft products. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fair saw participation of province and district-level handicraft associations as well as commodity associations showcasing various products including jewelry, cotton cloths, pashmina, leather products, natural fibres, and bamboo items. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There were nearly 120 stalls in the event which also aimed at fostering commercial relations between national entrepreneurs and importers of handicraft products. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Minister for Industry of Bagmati Province, Ram Krishna Chitrakar, said that handicraft products have contributed well to national economy and earned foreign currency as well. “As it helps develop entrepreneurship and creates jobs, it must be protected and expanded,” he underscored. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation shared that Nepal has been exporting handicraft products to over 60 countries. The market of Nepal’s handicraft products is worth Rs 24 billion, while nearly 1.1 million people are involved in this sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been exporting handicraft products worth Rs 12 billion in average a year. -- RSS </span></span></p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19493', 'image' => '20231219105218_RS_KTM-IMG_20231217_133213.jpg', 'article_date' => '2023-12-19 10:51:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19764', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1 Billion for Temporary Housing in Quake-Hit Districts', 'sub_title' => '', 'summary' => 'The government has disbursed Rs 1 billion to facilitate the construction of temporary housing for people affected by the earthquake that struck on November 3. The allocation, sanctioned by the Finance Ministry, aims to provide swift relief to those impacted by the earthquake.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 18: The government has disbursed Rs 1 billion to facilitate the construction of temporary housing for people affected by the earthquake that struck Jajarkot and surrounding districts on November 3. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The allocation, sanctioned by the Finance Ministry, aims to provide swift relief to those impacted by the earthquake.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the National Disaster Risk Reduction and Management Authority, Rs 930 million has already been dispatched to the respective districts as of Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Anil Pokhrel, the Chief Executive Officer of the Authority, stated, "The Finance Ministry released Rs 1 billion on Sunday, and today we sent Rs 930 million. The distribution aligns with the government's priority to support individuals affected by the earthquake."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Following a decision made during the cabinet meeting on November 13, the Finance Ministry earmarked Rs 1 billion for this purpose, out of the total Rs 10 billion designated for earthquake relief.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> An allocation breakdown reveals that Rs 540 million was directed to Jajarkot, Rs 340 million to Rukum Paschim, and Rs 50 million to Salyan.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This recent disbursement supplements an earlier allocation of Rs 1.41 billion by the Authority for temporary housing construction.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> As per the latest data, 60,337 individuals are identified as beneficiaries of the relief. (RSS)</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-19', 'modified' => '2023-12-19', 'keywords' => '', 'description' => '', 'sortorder' => '19492', 'image' => '20231219060545_collage (4).jpg', 'article_date' => '2023-12-19 06:03:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19763', 'article_category_id' => '1', 'title' => 'BFIs have Loanable Fund of almost Rs 600 Billion', 'sub_title' => '', 'summary' => 'December 18: Banks and financial institutions (BFIs) at present have the capacity to extend additional loans of around Rs 600 billion.', '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"">December 18: Banks and financial institutions (BFIs) at present have the capacity to extend additional loans of around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. Due to the increase in deposit collection along with the increase in remittance inflow and economic activities, there is excess liquidity in the banking system.</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 Nepal Rastra Bank (NRB), the total deposits of banks and financial institutions have exceeded Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. However, the credit-deposit ratio (CD ratio) of banks has decreased due to non-expansion of credit compared to the increase in bank deposits. </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"">Until last Thursday, banks and financial institutions had deposits of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6003</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion and had extended loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4992</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. In the current fiscal year, when banks collected deposits of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">232</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, credit flow expanded by only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">114</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</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"">Due to the increase in deposit collection, the CD ratio of banks has also fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to the provision of the central bank, commercial banks can give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. As per this provision, banks now have the capacity to provide additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">578</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</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 a report prepared by NRB, the remittance inflow has increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">26.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">477</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"">96</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion as of mid-November of the current fiscal year. Similarly, during this period, income from tourism activities also increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. The increase in government spending also had a positive effect on the growth of bank deposits.</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 central bank has already reduced policy rates to increase credit flow through the first quarterly review of the monetary policy. In the current year, loan disbursement is projected to increase by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, but it has only increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent by mid-November.</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 central bank has mentioned in the monetary policy review that the growth of deposits is satisfactory and interest rates are decreasing, so credit expansion will improve by the end of the current fiscal 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:"Arial","sans-serif"">Along with the reduction of the policy rates by the central bank, BFIs have also reduced the interest rates on deposits and emphasized on increasing credit flow. With excess liquidity, interbank and short-term interest rates have also fallen to a low point. On Thursday, the interest rate of interbank transactions remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.62</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"">When the interbank interest rate fell below </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in mid-November, the central bank mopped excess liquidity through deposit collection tools. As of Sunday, the NRB has raised Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">137</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"">25</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from the market by issuing deposit collection tools </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""> times. Of that, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion has matured and returned to the market. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19491', 'image' => '20231218040412_Banks - Copy.jpg', 'article_date' => '2023-12-18 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19762', 'article_category_id' => '1', 'title' => 'NEPSE Surges by 38.14 Points, Closing at 2060.49', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed an impressive upward trend as its index surged by 38.14 points or 1.89%, reaching a closing value of 2060.49 on the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> December 18: The Nepal Stock Exchange (NEPSE) witnessed an impressive upward trend as its index surged by 38.14 points or 1.89%, reaching a closing value of 2060.49 on the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, a total of 305 scrips were actively traded, involving 113,693 transactions and a substantial volume of 21,497,619 shares. The overall turnover for the day amounted to Rs 6.86 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himal Dolakha Hydropower Company Limited (HDHPC) dominated the trading floor with the highest turnover, reaching Rs 26 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Notably, six companies, including Bottlers Nepal (BNL), Suryajyoti Life Insurance Company Limited (SJLIC), and Swarojgar Laghibitta Bittiya Sanstha (SLBBL), experienced a remarkable 10% gain, triggering positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Power Partners Limited (HPPL) faced the highest loss, recording a decline of 7.86%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Examining the sectoral performance, all sectors closed in the green zone, with the Microfinance Index leading the gains at 5.53%. However, the HydroPower Index was an exception, incurring a minor loss of 0.33%.</span></span></p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19490', 'image' => '20231218034332_collage (1).jpg', 'article_date' => '2023-12-18 15:42:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19761', 'article_category_id' => '1', 'title' => 'Government’s Budget Deficit Crosses Rs 70 Billion', 'sub_title' => '', 'summary' => 'December 18: The government’s budget deficit has exceeded Rs 70.44 billion in the first five months of the current fiscal year.', '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"">December 18: The government’s budget deficit has exceeded Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</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"">44</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion in the first five months of the current fiscal year. As of mid-December, the government has spent a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">452</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"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion while it has collected revenue worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">382</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"">54</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion during this period.</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 records of the Financial Comptroller General Office, which keeps track of the government’s income and expenditure, the expenditure of the government is more than the income during the first five months of the current fiscal 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:"Arial","sans-serif"">During this period, the government’s revenue collection stood at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target while the budget expenditure was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.87</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target. </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"">For the current fiscal year, the government had announced a total budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</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"">31</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. However, the government has not been able to spend the budget according to the target, nor has the revenue been collected. </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 has been reducing the size of the budget through half-yearly review after announcing a large budget and not being able to meet the target.</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 past five months, the government's recurrent expenditure has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33.53</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, capital expenditure has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.94</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and the expenditure towards financial management has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18.52</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"">The government has allocated a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1141</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"">78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of current expenditure. So far, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">359</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"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under this heading. </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 government has spent only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion out of the allocated budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">302.7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of capital expenditure. </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 government has set aside an annual budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">307</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"">45</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion for financial management. So far, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56</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"">94</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion under this heading. </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 data of the FCGO, the government’s expenditure towards financial management was more than the capital expenditure by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last month.</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’s revenue collection is not in line with the target so far. In the current fiscal year, the government has set a target of collecting revenue of Rs 1422.54 billion. This year, the government has set a target of receiving Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49.94</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in foreign grants but has received only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion so far, which is only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.52</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target.</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 facts show that government’s targets has been affected by the recession in economy but government officials claim that the economy has started to improve.</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"">Just last week, Finance Minister Dr Prakash Sharan Mahat said in a press conference at the Ministry of Finance that the economic activities of the country have started to run smoothly. Although the finance minister has said that the country's economy is improving in various fronts, the private sector is not ready to accept it. The private sector is saying that a lot of policy changes are needed to improve the economy.</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"">Krishna Prasad Sharma, president of Lumbini Province chapter of the Federation of Nepalese Chamber of Commerce and Industry, says that the problems faced by businessmen due to Covid-</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"">are still not resolved. According to him, even now the industries are not able to produce according to their capacity. </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"">Stakeholders says that they are in crisis as the government has created a situation of panic by imposing hefty taxes and is unwilling to take corrective measures.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19489', 'image' => '20231218034314_finance_ministry_copy1.jpg', 'article_date' => '2023-12-18 15:42:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19760', 'article_category_id' => '1', 'title' => 'Price of Cement Rises by Rs 100 Per Bag', 'sub_title' => 'Construction Entrepreneurs Demand Cement Industry to Stop Carteling', 'summary' => 'December 18: Cement industries have increased the price of Ordinary Portland Cement (OPC) by Rs 100 per bag during the peak season 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:"Nirmala UI","sans-serif"">December 18: Cement industries have increased the price of Ordinary Portland Cement (OPC) by Rs 100 per bag during the peak season of construction. The Federation of Contractors Association of Nepal has said that its attention has been drawn to the decision of the cement industry to increase the price.</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 federation has objected to the price hike accusing the cement industry of increasing the price through 'cartel'. </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"">Ravi Singh, president of the federation, said that cement industries always increase the price when it is the peak time for construction work. "We had bought cement by paying the factory price of Rs 400 per bag, but the cement industry decided to increase the price by Rs 100 per bag just two to three days ago," said Singh.</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"">Singh said that it would be difficult to work at a time when the government is yet to release their due payment and the cement industry increases the price. </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"">Now the industry has fixed the price of cement from a minimum of Rs 550 to a maximum of Rs 800 per sack. Construction entrepreneurs are complaining that the price of cement has been increased even though there is no increase in the price of raw materials related to cement production as well as the fuel price.</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"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Our serious attention has been drawn to the fact that limited cement manufacturers have increased the price by more than Rs 100 per bag recently through cartel," the statement said, "This kind of unreasonable and unscientific price hike contrary to the policy of open market economy is not acceptable." </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 federation has mentioned that the financial burden has increased due to the increase in the cost of construction. The construction industry itself is on the verge of collapse due to the delay in payment of billions of rupees to the construction workers along with the complications seen in the extension of the project deadline. The federation has also demanded to cancel the price hike immediately.</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"">On the other hand, Dhruva Thapa, president of Nepal Cement Producers' Association, responded that it is natural for prices to increase as it is the construction season. </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 association has not officially increased the price of cement," Thapa said, adding, "My company itself sold cement at a loss of Rs 70/80 per bag in July/August."</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"">He said that the industry which was producing at a loss may have opted to increase the price. He said that although the construction season has started, the demand for cement in the market has not increased significantly.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19488', 'image' => '20231218031519_cementtttt.jpg', 'article_date' => '2023-12-18 15:14:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19759', 'article_category_id' => '1', 'title' => 'Agencies Government Announced to Scrap Still Functional', 'sub_title' => '', 'summary' => 'December 18: While announcing the budget for the current fiscal year on May 29, the government had announced to scrap more than 20 agencies saying that it would cut down public expenditure. However, those bodies are still functioning.', '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"">December 18: While announcing the budget for the current fiscal year on May 29, the government had announced to scrap more than </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""> agencies saying that it would cut down public expenditure. However, those bodies are still functioning. </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"">Those institutions are still operational due to the government’s lack of interest in implementing the announcement made in the budget. Also, the employees have not co-operated with the government fearing that they might lose the facilities they have been enjoying so far.</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"">Even though the government has initiated the process of revoking those agencies, it is yet to decide about the merger of those agencies with another one. The government is still confused about what will happen to the employees, assets and liabilities of those agencies after the decision to scrap them. This has exposed the government's style of making hasty announcements but not working effectively. </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 agencies that were said to be scrapped have been authorized to spend the budget until mid-December. It is unclear what will happen next.</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"">One of the bodies that the government announced to scrap is the Nepal Intermodal Transport Development Committee. The committee is still active even though the government said in the budget that Nepal Transport and Warehousing Company Limited will do its work. There are </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""> staffers in the committee, from the executive director to assistants. </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, said that the committee is still active now because the government announced to scrap the bodies without proper homework.</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 says that it was a mistake to take a decision without being clear on why and for what reasons the bodies should be scrapped. </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 even though a task force led by the joint secretary of the Ministry of Industry, Commerce and Supplies had submitted a report to merge it with a transport company, he had written a note of dissent. Although the government has started the process for cancellation of the committee, it has not been able to do so.</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"">Another agency that the government announced to abolish is the National Dairy Development Board. As per the announcement made by the government, the board will be abolished and its work including regulations, procedures and studies and research would be carried out by the relevant ministries. </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 board is still functional. Instead, the employees there have intensified their lobbying to prevent it from being scrapped. Due to lobbying, the board has received the same budget as it used to get before. </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"">Executive Director of the board, Balak Chaudhary, says that the board is still working on the study and research as well as formulating regulations and procedures. He says that he is not aware of why the government put the board in the list of cancellation. Chaudhary said that the Minister for Agriculture himself has stood against abolishing the board and he is confident that the board will remain as it is.</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 had also announced to abolish the District Election Office. It caused an uproar within days of the government announcing the decision. Since then, the government has backed away from implementing the decision. At that time, after the opposition parties blocked the Parliament, Finance Minister Dr Prakash Sharan Mahat stood on the rostrum of the House of Representatives and expressed his commitment to maintain the status of the district election offices despite the announcement to scrap them.</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 effectively ruled out the election offices being scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19487', 'image' => '20231218013002_20230714023452_1683767264.jpg', 'article_date' => '2023-12-18 13:28:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19758', 'article_category_id' => '1', 'title' => 'Four Cement Industries Operating in Bara-Parsa Industrial Corridor Shut Down', 'sub_title' => '', 'summary' => 'December 18: More than 500 workers working in cement industries operating in the Bara-Parsa industrial corridor have become unemployed due to the closure of four cement industries.', '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"">December 18: More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers working in cement industries operating in the Bara-Parsa industrial corridor have become unemployed due to the closure of four cement industries. </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"">International Cement, Bishwakarma Cement, Krishna Cement and RMC Cement operating in the biggest economic corridor of the country have stopped production due to economic recession, and the workers and employees working there have become unemployed.</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 of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> industries operating in the corridor have been closed. Anil Agarwal, president of Birgunj chapter of the FNCCI and owner of Shree Cement Udyog, informed that the rest of the industries are also in a state of closure. According to him, the problem has arisen due to high interest rate charged by banks, lack of infrastructure development and non-payment of construction works. Agarwal said that some industries shut down due to the drop in demand for cement.</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"">India has been charging a tax of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</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"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per ton of clinker which it had been providing free of charge to the Nepali cement industry earlier. Agrawal says that it is necessary for the government to pay attention to this issue. According to the industrialists, Nepali cement can be exported to India if the government takes the initiative to provide the Indian quality mark BIS, which Nepali cement industry has been demanding for years. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19486', 'image' => '20231218122632_1702812532.jpg', 'article_date' => '2023-12-18 12:25:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19757', 'article_category_id' => '1', 'title' => 'Twelve Years On, Construction of Tamor Bridge yet to Complete ', 'sub_title' => '', 'summary' => 'December 18: Construction of a concrete bridge over the Tamor River in eastern Nepal is yet to be completed even though 12 years have elapsed since the signing of its contract. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 18: Construction of a concrete bridge over the Tamor River in eastern Nepal is yet to be completed even though 12 years have elapsed since the signing of its contract. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the bridge linking Terhathum and Panchthar districts has not gained momentum. It is uncertain how long it will take to complete the construction of the bridge. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">One has to travel 116 kilometers to reach Dharan from Myanglung via Basantapur, Sidhuwa, Hile and Dhankuta. After the construction of the bridge, Dharan can be reached directly through Tamor corridor, which will cut short the time by half.</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"">Due to the inordinate delay in the construction work, the residents of Kummayak of Panchthar have to walk seven to eight hours carrying materials on their backs to reach the Friday weekly market at Hatia, Myanglung of Tehrathum. </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"">Hatia is near Kummayak Rural Municipality in Panchthar district. The goods produced in the village are taken to the Friday market at Hatia of Myanglung for sale. The traders return home with soap, salt, oil, clothes and clothes on their backs from Myanglung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Thapa, who had come to sell almonds from Bijuwapani of Kummayak rural municipality to Myanglung in the Friday market, said, "We feel that we would not have had to carry a heavy load if the bridge had been constructed." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had signed a contract with Swachchhanda Contractor Company in June 2011 for the construction of the bridge at a cost of Rs 130 million. As per the agreement, the company was supposed to complete the construction of the bridge by July 2018. Chief of the Road Division Office, Dhankuta, Ram Kumar Dev, said only 50 percent of the work of the bridge, which is 3 meters wide and 157 meters long, has been completed so far. </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"">“Out of the five pillars, only four have been constructed. We are extending the construction deadline till mid-July 2024", he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The contractor company's representative Ajay Lamichhane said that the project was delayed because there was no road leading to the bridge from Myanglung when the construction of the bridge started. “It took time to build the road, which was necessary to transport construction materials. Therefore, the construction of the bridge was delayed,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arjan Dhungana of Myanglung and Dik Bahadur Karki of Laligurans municipality had lodged a complaint with the Commission for the Investigation of Abuse of Authority (CIAA) accusing the authorities concerned of misappropriating funds in the name of the project. Local residents of Myanglung have been putting pressure on the Myanglung Municipality and the District Administration Office, Tehrathum, by forming a committee to press for the timely construction of the bridge over the Tamor River. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19485', 'image' => '20231218112320_Bridge_over_tamor_river_at_Panchthar_-_panoramio.jpg', 'article_date' => '2023-12-18 11:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19756', 'article_category_id' => '1', 'title' => 'SSB Obstructing Blacktopping of Postal Highway in Kanchanpur: Minister Jwala', 'sub_title' => '', 'summary' => 'December 18: Minister for Physical Infrastructure and Transport, Prakash Jwala, has said that the Indian Seema Suraksha Bal (SSB) has been causing obstructions in the blacktopping of the Postal Highway in far western parts of Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 18: Minister for Physical Infrastructure and Transport, Prakash Jwala, has said that the Indian Seema Suraksha Bal (SSB) has been causing obstructions in the blacktopping of the Postal Highway in far western parts of Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During a meeting of the Delegated Management and Government Assurance Committee of the National Assembly (NA) on Sunday, the minister talked about challenges in completing the project due to the non-cooperation from the SSB. He said that blacktopping has been hampered in the Belauri-Pachui area in Kanchanpur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Jwala said there are some issues regarding border disputes in the given area and various initiations from the official channel to ease the situation for the highway construction have yielded no results. The Postal Highway is being developed by connecting 21 districts in the Terai from east to west. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee, a few days back, visited the area and the minister was summoned to the meeting on Sunday to take stock of the government efforts towards the project implementation. According to Minister Jwala, the Foreign Ministry has been requested to facilitate this matter. He also called for efforts from authorities concerned to address the issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Postal Highway Directorate’s Director Ajay Kumar Mul apprised the meeting that work in 60 kilometers in Kanchanpur has been divided into three clusters (each cluster measuring 20 kilometers) and the blacktopping is being carried out. Border disputes have hampered the works along the 1,400 meter section of Belauri Pachui-Khapati river area. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> He said that there were no issues while the preparations for the blacktopping were done. The SSB intervened while graveling works were about to start for the blacktopping, citing the area lies on the no man's land. The Survey Office and Department were also apprised of this development by the road project. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the project, a diplomatic initiation is necessary to sort out the issue. The exact location of Pillar number 38 should be identified. Mul said they are waiting for a substantive direction from the government to proceed with the project implementation. The second cluster incorporating the Belauri-Pachai-Khapati River reports 80 percent physical progress. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the project faces issues for the project implementation in the 15 kilometers stretch of the third cluster as the area lies along the Shuklaphanta National Park. The transportation of construction materials and the construction works are restricted to daytime and it is challenging to transport construction equipment to the site as well. Initially, a budget of Rs 4.5 billion was ensured for the project, but the cost is estimated to reach Rs 10 billion due to the delay in completion of the works. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-18', 'modified' => '2023-12-18', 'keywords' => '', 'description' => '', 'sortorder' => '19484', 'image' => '20231218101855_20230406110040_postal highway facebook.jpg', 'article_date' => '2023-12-18 10:17:58', '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
