November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative…
November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative…
The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding…
The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly…
November 20: The Nepal Electricity Authority (NEA) has added 3,118 circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine…
On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on…
November 20: The Westerly wind is having its partial impact in the country at present.…
November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as…
November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research…
November 20: Banks and financial institutions (BFIs) have reduced the interest rates on deposits. As a result, the interests on bank loans have also started declining.…
November 20: The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has solicited suggestions from its members in a bid to help address the existing economic…
November 20: The Chhath festival has concluded after offering worships to the rising Sun in entire Mithila region, including Mahottari this morning…
November 20: Twenty-three local governments have not yet submitted the details of the budget they presented for the current fiscal to the Ministry of Federal Affairs and General…
November 19: Opener Travis Head hit a sparkling 137 to power Australia to a record-extending sixth World Cup title with a convincing six-wicket win over India in Ahmedabad on…
Citizens Bank International Limited has provided Rs 2.5 million to Prime Minister disaster relief and rescue fund to support the earthquake affected locals in Jajarkot and Rukum…
Nepal SBI Bank Ltd. (NSBL) has contributed Rs 2 million to the Prime Minister Disaster Relief Fund set up for the victims of earthquake in Jajarkot and Rukum…
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Sunday held discussions with representatives from various line ministries, the National Planning Commission, Nepal Rastra Bank among others to take stock about the current state of the country’s economy and the ways to address the national economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the office-bearers of the ruling Nepali Congress also deliberated on the economic situation of the country. Minister for Finance Dr Prakash Sharan Mahat briefed the meeting about the economic state of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The participants of the meeting viewed that the government should take a step immediately to revitalize the national economy. They opined that attention should be paid to post-quake relief and reconstruction operation for the earthquake survivors in Jajarkot and Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The internal indices of the economy are still in crisis although there are signs of general improvement in the external indices lately. Problems plaguing the national economy at present are lax implementation of government's annual polices, programmes and budget and low capital expenditure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reduction in credit flow and high interest rate, reduction in the consumers' demand, declining morale of the private sector and failure in increasing domestic productivity among others have also led to flagging economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector has been continuously exerting pressure on the government saying it has been too late to take initiatives to resolve the problems of the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organisation of the private sector, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), hosted a 'National Economic Talks' on October 12, to find out solutions to the existing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the proposal of the private sector in course of discussion, Prime Minister Dahal had said a high-level mechanism could be formed to reform the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government and private sector are univocal that all sides and sectors should move ahead through collective efforts with responsibility in order to resolve the problems seen in economy. The private sector has been demanding since a long time that it is necessary to immediately form an Economic Reforms Commission or any high-level mechanism with legal authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the government through its policy and programme and budget of the current fiscal year had initiated some measures for policy and procedural reforms, the implementation side is weak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to host an international investment summit in third week of April 2024. A proposal to organise the investment summit has reached the cabinet. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">What is the condition of economy?</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first quarter of the current fiscal year, the government's expenditure has been just 20 per cent of the annual target. According to the Office of the Financial Comptroller General, the government's spending is over Rs 355.63 billion till the second week of November. Categorically, the government spending is 23.75 per cent under the current expenditure, 9.93 per cent under the capital expenditure and 17.72 per cent under the fiscal management as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the status of revenue collection also paints a dismal picture. In the first quarter, revenue collection stood at 20.08 per cent of the annual target. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has set a target to collect Rs 1422.54 billion in revenue in the current fiscal year but the collection is only Rs 276.64 billion as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the inflation in the country is 7.5 per cent in the first quarter of the current fiscal year against the government’s target to maintain it within 6.5 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the bank and financial institutions are also struggling to expand credit flow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the external sector of the economy has gradually improved with the robust growth in remittance inflow, which recorded 30 per cent growth till November 17. During the first three months of the current fiscal year, Nepal received Rs 365.34 billion in remittances, which is 30 per cent more than the corresponding period of the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the balance of payment is in a surplus of Rs 99.7 billion. In the first quarter, the import has increased by 1.7 per cent while the export has reduced by 2.3 per cent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19251', 'image' => '20231121104356_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-11-21 10:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19521', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1.41 Billion for Earthquake Victims' Temporary Residences', 'sub_title' => '', 'summary' => 'The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The National Disaster Risk Reduction and Management Authority (NDRRMA) announced the release of the first tranche of funds, which will benefit Jajarkot, Rukum Paschim, Bajhang, Bajura, and Salyan districts in accordance with government decisions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the total amount, Jajarkot and Rukum Paschim districts are set to receive Rs 500 million each, said NDRRMA spokesperson Dhruba Bahadur Khadka. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Rs 250 million has been earmarked for Bajhang, Rs 140 million for Bajura, and Rs 20 million for Salyan district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund allocation aligns with the Temporary Residence Construction Guidelines 2080 BS, approved during the Disaster Risk Reduction and Management Executive Committee meeting on November 12.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Khadka emphasized that the first tranche of the fund adheres to these guidelines, ensuring legal facilitation for supporting those affected by the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The selection of beneficiaries will be carried out by the respective local authorities, with funds disbursed according to established laws. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stringent auditing procedures will be implemented to ensure transparent and accountable management of the allocated funds. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19250', 'image' => '20231121055053_collage (17).jpg', 'article_date' => '2023-11-21 05:48:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '19522', 'article_category_id' => '1', 'title' => 'Government to Seek Suggestions from Private Sector', 'sub_title' => '', 'summary' => 'The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discussions with the private sector are scheduled to take place at the Prime Minister's Office in Singh Durbar on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the Prime Minister Pushpa Kamal Dahal 'Prachanda' had held meetings with key ministries, including Finance, the National Planning Commission, and Nepal Rastra Bank, to gain insights into the present economic conditions and chart a course for the future.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We are seeking suggestions from the private sector regarding the current challenges and problems, as well as insights into the future course of action," said Finance Minister Dr. Mahat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During meeting at the PMO, the Finance Minister provided the Prime Minister with a comprehensive overview of the country's economic landscape, while the Governor of Rastra Bank and a representative from the National Planning Commission also shared their perspectives. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19249', 'image' => '20231121060647_collage (18).jpg', 'article_date' => '2023-11-21 06:05:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19519', 'article_category_id' => '1', 'title' => 'NEA Expands Transmission Lines by 3100 Circuit Kilometers in Nine Years', 'sub_title' => '', 'summary' => 'November 20: The Nepal Electricity Authority (NEA) has added 3,118 circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.', '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"">November 20: The Nepal Electricity Authority (NEA) has added </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transmission and distribution lines and substations are required to deliver the electricity produced from the power plants to the customers' homes. For this purpose, the NEA is constructing transmission lines and substations through the Directorate of Transmission and Project Management.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago i.e. in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the capacity of substations was only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA, but in the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> it reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</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"">867</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA.</span></span></span></span></p> <p><span style="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 year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, electricity was being transmitted only from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines but now it is done through </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</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"">132</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"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV lines. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, there were </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">624</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines. By FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">742</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines with the addition of </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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of new lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV transmission lines in the system is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">514</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,979</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively.</span></span></span></span></p> <p><span style="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 length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines is </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"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">148</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively. Last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">413</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">circuit kilometers of transmission lines were added to the 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"">Kulman Ghising, the executive director of the NEA, has admitted that there are problems in the construction of transmission line projects, mainly due to the obstacles created by the locals. In addition to this, there are also problems in land acquisition and use of forest area and tree cutting, and the NEA is working to solve these problems, added Ghising.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On one hand, it takes a long time for the approval of the use of forest area land and tree felling, and on the other hand, a large amount of money has to be paid as compensation to another agency of the government. This not only prolongs the duration of the project, but also increases the price of our produced electricity," said Executive Director Ghising. </span></span></span></span></p> <p><span style="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 an urgent need to declare the next </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years as the country's development decade and comprehensively amend or replace the existing laws and regulations, to facilitate the land use of the forest area, said Ghising, adding that the programs announced in the current fiscal year's budget should be implemented 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"">In order to meet the demand for electricity till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Ghising said that the major cities of the country including Kathmandu have been divided into </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clusters for which the NEA has prepared the transmission and substation structure master plan.</span></span></span></span></p> <p><span style="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 NEA, currently </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,852</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines of various capacities are under construction. A maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,111</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">988</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">754</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction respectively.</span></span></span></span></p> <p><span style="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, </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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">469 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations of various capacities are under construction while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">564 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations are proposed for construction.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19248', 'image' => '20231120013615_20230716115331_eee.jpg', 'article_date' => '2023-11-20 13:35:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19520', 'article_category_id' => '1', 'title' => 'NEPSE Posts Minimal Gain to Close at 1853.48', 'sub_title' => '', 'summary' => 'On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 20: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market's lack of upward momentum is attributed to a prolonged festive period, causing reduced trading activity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prevailing negative investor psychology has influenced the market, preventing it from catching the upward momentum. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a significant number of investors adopting a "wait and watch approach, is also hampering overall market momentum.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, 3,319,558 shares were traded through 44,727 transactions, totaling Rs 1.9 billion, involving 284 scrips. Himalayan Distillery Limited (HDL) led with a turnover exceeding Rs 7 crores, closing at Rs 1737 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) and Karnali Development Bank Limited (KRBL) gained the highest at 9.98% and 9.96%, respectively. Conversely, Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) and Sayapatri Hydropower Limited (SPHL) each lost 10%, hitting the negative circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In sector indices, all sectors closed positively, except Hotels And Tourism, Manufacturing And Processing, Microfinance, and Others. Manufacturing and Processing saw the highest loss at 1.91%, while Trading Index gained the most at 1.42%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index experienced losses of 0.14% and 0.25%, respectively, while Float Index gained 0.08% for the day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19247', 'image' => '20231120042517_collage (1).jpg', 'article_date' => '2023-11-20 16:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '19518', 'article_category_id' => '1', 'title' => 'Light Snowfall Likely in High Hills and Mountainous Regions ', 'sub_title' => '', 'summary' => 'November 20: The Westerly wind is having its partial impact in the country at present. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Westerly wind is having its partial impact in the country at present. The weather will be partly cloudy in the hill region of the country and generally fair in the rest of the regions, the Meteorological Forecasting Division said Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Saroj Pudasaini said that the weather will be partly cloudy in the hill region of the country, including in Gandaki Province, in the afternoon today (Monday) while it will remain generally fair in the rest of the regions. According to him, there is a possibility of light snowfall at one or two places in the high hills and mountainous region of Koshi, Bagmati and Gandaki provinces today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The air temperature in Kahmandu is 17 degrees Celsius and visibility is more than six kilometres at present, the division stated. Meteorologist Pudasaini said the weather will be partly cloudy and the maximum temperature will be between 22 to 24 degrees Celsius in Kathmandu today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly cloudy in the hill areas of Koshi, Bagmati and Gandaki provinces and generally fair in the rest of the country tonight. There are chances of light snowfall at one or two places of the high hills and mountainous areas of Koshi, Bagmati and Gandaki provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19246', 'image' => '20231120013629_20190208014800_aaaa.jpg', 'article_date' => '2023-11-20 13:33:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19516', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Busy in Soliciting Foreign Aid due to Slump in Revenue Collection', 'sub_title' => '', 'summary' => 'November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.', '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"">November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has stepped up his efforts to solicit support from large donor agencies. Due to his active efforts, the government has signed agreements for foreign aid worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last four months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Between mid-July to mid- October, the government has reached separate agreements with the main donor agencies including the World Bank, the Asian Development Bank, the European Union and the Japanese government to receive foreign aid. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion agreement, the government will receive more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 billion as subsidy.</span></span></span></span></p> <p><span style="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 also signed a grant agreement worth Rs </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"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion with the European Union.</span></span></span></span></p> <p><span style="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 grant agreement is to be spent in the fields of education and climate change adaptation. The European Union has signed an agreement with the Government of Nepal to provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the education program for all and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the local climate change adaptation program. </span></span></span></span></p> <p><span style="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 education program for all has the backing of eight donor agencies including the European Union. This program is being run to produce skilled manpower.</span></span></span></span></p> <p><span style="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 Japanese government has signed an agreement to provide a subsidy equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.96</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion to Nepal. The Japanese government will provide the grant for upgrading of the emergency trauma center at Dhulikhel Hospital. Japan's grant will be used to build infrastructure for immediate treatment of victims of emergency accidents.</span></span></span></span></p> <p><span style="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 World Bank has also signed an agreement to provide a grant of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to the Government of Nepal. Along with the grant, the government has entered into a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the World Bank during this period. As per the agreement, the loan will be spent in the health sector of Nepal.</span></span></span></span></p> <p><span style="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 of Nepal is increasing investment in infrastructure and production of skilled manpower to expand health facilities to the local level. The government signed the agreement with the World Bank under the same campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government has also signed a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the Asian Development Bank for the rural road infrastructure improvement project. </span></span></span></span></p> <p><span style="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 officials of the Ministry of Finance, the government has prioritized foreign aid as the revenue, the main source of government’s income, has not been raised as expected. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Support from donor agencies is increasing, this will help the government's financial system which is under pressure," a senior official of the International Financial Aid Coordination Division under the Ministry of Finance told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If we look at the status of revenue collection, the government has collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">276</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"">64</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion till mid-October of the current fiscal year. This is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target. Tax revenue collected during this period is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">254</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"">30</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and the non-tax revenue is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</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 the officials of the finance ministry, the government has been facing problems to meet the revenue collection target from the beginning 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"">Finance Minister Mahat announced a 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""> billion for the current fiscal year. So far </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 budget has been spent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Mahat said that the government will raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1248</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"">62</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from revenue and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</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 from foreign grants.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government plans to raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">212</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"">75 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign loans and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">240 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from internal loans. </span></span></span></span></p> <p><span style="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 first four months of the current fiscal year, the government has already taken internal loans 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"">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"">As the main source of revenue is shrinking, the government has been criticized for meeting its financial liabilities by taking internal debt. Government officials have been rejecting this accusation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Keshav Acharya says that the government’s finances are deteriorating due to the lack of responsibility and accountability among top political leadership and high-level employees. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19245', 'image' => '20231120012342_finance_ministry_copy1.jpg', 'article_date' => '2023-11-20 13:23:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19517', 'article_category_id' => '1', 'title' => 'Aftershock Jolts Bajhang ', 'sub_title' => '', 'summary' => 'November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist at the Centre, Dr Lokbijaya Adhikari said another aftershock jolted Bajhang following the tremor at Dhamena. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"An aftershock measuring 4.5 on the Richter scale took place with its epicentre at Dhamena. Information has been received that the aftershock was felt in surrounding districts of Bajhang as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An earthquake measuring 6.3 on the Richter scale with epicentre in Bajhang had jolted the district on October 3. Many aftershocks have occurred following this quake, according to the Centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19244', 'image' => '20231120013040_earth.jpg', 'article_date' => '2023-11-20 13:29:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19515', 'article_category_id' => '1', 'title' => 'Interest on Loans Starts Declining', 'sub_title' => '', 'summary' => 'November 20: Banks and financial institutions (BFIs) have reduced the interest rates on deposits. As a result, the interests on bank loans have also started declining. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 20: Banks and financial institutions (BFIs) have reduced the interest rates on deposits. As a result, the interests on bank loans have also started declining. The reduction in interest rates on deposits has lowered the base rate and operating cost of banks and therefore the interest on loans have also been revised.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data of Nepal Rastra Bank (NRB), the average interest rate on loans of commercial banks has dropped to 12.11 percent in mid-September to mid-October of the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The average interest on loans in mid-July to mid-August was 12.24 percent. The average base rate of commercial banks, which was 10.11 percent in mid-August, fell to 9.94 percent in mid-October. After the base rate has decreased, the interest on loans also decreased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the interest rates of development banks have increased in mid-September to mid-October compared to the one month period of mid-July to mid-August. In mid-August, the average interest rate on loans of development banks was 13.88 percent, which increased to 13.91 percent in mid-October. However, the interest rates of development banks in mid-September to mid-October is less compared to that of mid-August to mid-September.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the average interest rate on loans of finance companies has also decreased. The average interest rate on loans of finance companies was 14.66 percent in mid-July to mid-August, which dropped to 14.61 percent in mid-September to mid-October. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the banks had increased the interest rates on deposits due to the lack of liquidity which increased the operating cost of banks. It resulted in high interest on bank loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In recent times, bank deposits have been increasing due to the increase in remittance inflows and an increase in economic activities. As the banks started reducing the interest rate on deposits, the interest on loans also started to decline. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Bankers Association Sunil KC says that the base rate has been lowered and the banks have also reduced the premium, so the interest on loans is decreasing. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Currently, there is not much demand for loans compared to the increase in deposits," he said, adding, "As banks have also reduced the premium to increase investment, interest on loans is declining."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the instructions of the Nepal Rastra Bank regarding interest rate determination, banks are allowed to increase or decrease the interest rates by 10 percent every month. Similarly, there is a provision that banks should publish the interest rate applicable for every month a day before the start of the new month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks are required to pay 1 percentage point more for deposits through remittance and 2 percentage points less for institutional depositors than for individual deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-November of the current fiscal year, deposits in banks and financial institutions have increased by 2.8 percent and credit flow by 2.3 percent. During the same period of the last fiscal year, deposits increased by 0.4 percent and lending increased by 1.3 percent. However, compared to the previous months, the demand for loans has started to increase, according to the report of the central bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, the interest rates on deposits and loans have started to decrease along with the base rate of banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the deposit collection is higher than credit flow, the credit-deposit ratio (CD ratio) of banks has also decreased. On November 7, the average CD ratio of banks remained at 81.31 percent. According to the central bank, banks can extend credit flow by maintaining a CD ratio of up to 90 percent. So, the banks have the capacity to provide additional loans of about Rs 514 billion.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19243', 'image' => '20231120122549_Banks - Copy.jpg', 'article_date' => '2023-11-20 12:24:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19514', 'article_category_id' => '1', 'title' => 'FNCCI Seeks Suggestions from its Members for National Economic Discourse ', 'sub_title' => '', 'summary' => 'November 20: The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has solicited suggestions from its members in a bid to help address the existing economic crisis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has solicited suggestions from its members in a bid to help address the existing economic crisis. The umbrella organization of the of Nepalese private sector demanded suggestions as a part of its national economic discourse. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting presided over by FNCCI President Chandra Prasad Dhakal on October 12 had presented a proposal to the government seeking formation of a high-level mechanism to which Prime Minister Pushpa Kamal Dahal had responded affirmatively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI is gearing up for the next leg of discourse soon. A circular has been issued to its members in all districts asking them to furnish suggestions to the government on the next course of action to address the ongoing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI then will compile and present a host of recommendations to the government for it to put in place private sector-friendly economic policies as well as to come up with resolutions to address the economic crisis. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19242', 'image' => '20231120112653_fncci-building_sHPipJwM5k.jpg', 'article_date' => '2023-11-20 11:23:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19513', 'article_category_id' => '1', 'title' => 'Chhath Festival Concludes by Offering Worship to the Rising Sun ', 'sub_title' => '', 'summary' => 'November 20: The Chhath festival has concluded after offering worships to the rising Sun in entire Mithila region, including Mahottari this morning (Monday). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Chhath festival has concluded after offering worships to the rising Sun in entire Mithila region, including Mahottari this morning (Monday). </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Devotees offered curd to the rising Sun on Monday, the fourth day of the festival, from the banks of rivers and ponds especially in the Mithila region as well as other places across the country to mark the end of the festivities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This festival is mainly observed in the Mithila region including Mahottari, Dhanusha, Siraha, Saptari, Sunsari, Morang, Sarlahi, Rautahat, Bara and Parsa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The main feature of this festival is to increase human beings’ interest in truth and non-violence and encourage them to remain sympathetic to all living creatures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The rising and setting suns are worshipped with devotion during the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chhath is a festival of goodwill, faith, and social harmony as people from all backgrounds come together in a common place to offer worship to the Sun God. It is widely believed that appeasing the Sun God brings happiness, prosperity, well-being, and longevity to family members. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19241', 'image' => '20231120105136_20231119102851_20211107101945_1260843_n - Copy.jpg', 'article_date' => '2023-11-20 10:50:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19512', 'article_category_id' => '1', 'title' => '23 Local Governments Fail to Submit Budget Details on Time', 'sub_title' => '', 'summary' => 'November 20: Twenty-three local governments have not yet submitted the details of the budget they presented for the current fiscal to the Ministry of Federal Affairs and General Administration. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">November 20: Twenty-three local governments have not yet submitted the details of the budget they presented for the current fiscal to the Ministry of Federal Affairs and General Administration. The local-levels are required to update the details of the annual budget in the central portal after it is endorsed by rural and municipal assemblies. The Local Government Operation Act, 2074 BS mandates the local governments to endorse the budget by mid-July. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Though four months have already passed since the beginning of the current fiscal year (FY 2023-24), a total of 23 local governments including 21 in the Madhesh Province have not updated the details in the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, it has already asked those local-levels many times for the submission of the details, but they are still awaiting the update. It is said budgets brought for some local levels have not been endorsed by the rural and municipal assemblies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chitwan's Rapti municipality’s chief administrative officer Nilam Kumar Neupane said the budget for the local government had been already passed but the entry in the federal system is waited while Tehrathum's Aathrai rural municipality’s administrative officer Niraj Sharma said the budget details have yet to be updated in the ministry's website. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Other municipalities that are yet to submit the budget details to the federal ministry include Kanchanrup municipality, Chhinnamasta rural municipality, Mahadeva rural municipality and Rupani Municipality in Saptari, Aurahi rural municipality and Bhagawanpur rural municipality in Siraha, Aurahi rural municipality and Kamala municipality in Dhanusha, Balara municipality, Haripurwa municipality and Chandranagar rural municipality in Sarlahi, Garuda municipality, Katahariya municipality, Gadhimai municipality, Phatuwa Bijaypur municipality, Madhabnarayan municipality, Maulapur municipality and Yamunamai rural municipality in Rautahat, Simraungadh municipality and Adarsha Kotwal rural municipality in Bara and Sakhuwa Prasauni rural municipality in Parsa. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19240', 'image' => '20231120101241_20231020014803_20230714023452_1683767264.jpg', 'article_date' => '2023-11-20 10:11:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19510', 'article_category_id' => '1', 'title' => 'Australia Crushes India to win Sixth World Cup Title', 'sub_title' => '', 'summary' => 'November 19: Opener Travis Head hit a sparkling 137 to power Australia to a record-extending sixth World Cup title with a convincing six-wicket win over India in Ahmedabad on Sunday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 19: Opener Travis Head hit a sparkling 137 to power Australia to a record-extending sixth World Cup title with a convincing six-wicket win over India in Ahmedabad on Sunday.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chasing a tricky 241 for victory in the final, Australia slipped to 47-3 before the left-handed Head hit his second century of the tournament to steer the team home with seven overs to spare.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head's knock and his marathon stand of 192 with Marnus Labuschagne, unbeaten on 58, ended India's dominant run of 10 unbeaten matches at the event.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head fell after his 120-ball knock laced with 15 fours and four sixes before Glenn Maxwell hit the winning runs to trigger wild celebrations in the Aussie camp.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India's chances of ending a global trophy drought since their 2013 Champions Trophy win went up in smoke once Head got going with Labuschagne.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head's century was the seventh in a World Cup final and third by an Australian after Ricky Ponting (140 not out v India in 2003) and Adam Gilchrist (149 v Sri Lanka in 2007).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bowlers set up victory for an Australian side that bounced back after two losses to win nine in a row as Mitchell Starc (3-55) and Pat Cummins (2-34) helped bowl out India for 240.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India hit back when Mohammed Shami shared the new ball with Jasprit Bumrah and struck on his second delivery to get David Warner caught behind for seven.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But it was Bumrah's double strike in quick succession that raised the roof as he had Mitchell Marsh caught behind for 15 and Steve Smith lbw for four.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head stood firm with Labuschagne for company to thwart the Indian attack despite captain Rohit Sharma rotating his bowlers in a hunt for a breakthrough.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head, who suffered a fractured hand in South Africa in September, was in danger of missing the World Cup but Australia kept him in the squad until he was fit to play.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He hit a match-winning century against New Zealand in the team's sixth league game and after a few low scores hit an attacking 62 in his team's nervy three-wicket semi-final win over South Africa in Kolkata.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He turned India's nemesis a second time this year after his 163 proved decisive in Australia's World Test Championship triumph at the Oval in June.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head reached his 100 in 95 balls and raised his bat to an applauding Australian dressing room.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Australia elected to field first and the players backed up Cummins' decision with disciplined bowling and impressive fielding.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Virat Kohli and KL Rahul hit 54 and 66 respectively after Rohit's attacking 47 but the ball dominated the bat on a slow, dry pitch.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head took a stunning catch while running back from cover point to cut short Rohit's innings off spinner Maxwell.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Cummins bowled Kohli, who ended as the leading batsman in tournament with 765 runs, to silence the crowd of 92,453 fans, who like the home team in the middle had an unforgettable day. – AFP/AP/RSS</span></span></p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => 'Australia, India, World, Cup, title, Head, hundred, cricket', 'description' => '', 'sortorder' => '19238', 'image' => '20231119104701_AP23323405001701.jpg', 'article_date' => '2023-11-19 22:46:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19509', 'article_category_id' => '1', 'title' => 'Citizens Bank International Gives Rs 2.5 Million to Tremor Victims', 'sub_title' => '', 'summary' => 'Citizens Bank International Limited has provided Rs 2.5 million to Prime Minister disaster relief and rescue fund to support the earthquake affected locals in Jajarkot and Rukum west.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">November 19: Citizens Bank International Limited has provided Rs 2.5 million to Prime Minister disaster relief and rescue fund to support the earthquake affected locals in Jajarkot and Rukum west.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The bank made the financial contribution to the earthquake victims in Jajarkot and Rukum West under its Corporate Social Responsibility(CSR). </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The bank has been delivering banking services through 188 branches, 97 branchless banking units and 148 ATM booths from across the country.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '19237', 'image' => '20231119040903_collage.jpg', 'article_date' => '2023-11-19 16:08:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19508', 'article_category_id' => '1', 'title' => 'Nepal SBI Bank Provides Rs 2 Million to Quake Victims', 'sub_title' => '', 'summary' => 'Nepal SBI Bank Ltd. (NSBL) has contributed Rs 2 million to the Prime Minister Disaster Relief Fund set up for the victims of earthquake in Jajarkot and Rukum West.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">November 19: Nepal SBI Bank Ltd. (NSBL) has contributed Rs 2 million to the Prime Minister Disaster Relief Fund set up for the victims of earthquake in Jajarkot and Rukum West.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">A cheque for Rs 2 million was handed over by the bank’s Chief Executive Officer Dipak Kumar De to Press Advisor to Prime Minister, Mr. Govinda Acharya at Prime Ministers’ Office, Singha Durbar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">Earlier, the bank had also distributed food items to the earthquake-affected people of Jajarkot and Rukum West District.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The Bank has been providing its banking services through 96 branches, 22 extension counters, 7 province offices and one corporate office along with 121 ATMs.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '19236', 'image' => '20231119033535_collage (3).jpg', 'article_date' => '2023-11-19 15:33:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Sunday held discussions with representatives from various line ministries, the National Planning Commission, Nepal Rastra Bank among others to take stock about the current state of the country’s economy and the ways to address the national economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the office-bearers of the ruling Nepali Congress also deliberated on the economic situation of the country. Minister for Finance Dr Prakash Sharan Mahat briefed the meeting about the economic state of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The participants of the meeting viewed that the government should take a step immediately to revitalize the national economy. They opined that attention should be paid to post-quake relief and reconstruction operation for the earthquake survivors in Jajarkot and Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The internal indices of the economy are still in crisis although there are signs of general improvement in the external indices lately. Problems plaguing the national economy at present are lax implementation of government's annual polices, programmes and budget and low capital expenditure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reduction in credit flow and high interest rate, reduction in the consumers' demand, declining morale of the private sector and failure in increasing domestic productivity among others have also led to flagging economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector has been continuously exerting pressure on the government saying it has been too late to take initiatives to resolve the problems of the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organisation of the private sector, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), hosted a 'National Economic Talks' on October 12, to find out solutions to the existing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the proposal of the private sector in course of discussion, Prime Minister Dahal had said a high-level mechanism could be formed to reform the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government and private sector are univocal that all sides and sectors should move ahead through collective efforts with responsibility in order to resolve the problems seen in economy. The private sector has been demanding since a long time that it is necessary to immediately form an Economic Reforms Commission or any high-level mechanism with legal authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the government through its policy and programme and budget of the current fiscal year had initiated some measures for policy and procedural reforms, the implementation side is weak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to host an international investment summit in third week of April 2024. A proposal to organise the investment summit has reached the cabinet. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">What is the condition of economy?</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first quarter of the current fiscal year, the government's expenditure has been just 20 per cent of the annual target. According to the Office of the Financial Comptroller General, the government's spending is over Rs 355.63 billion till the second week of November. Categorically, the government spending is 23.75 per cent under the current expenditure, 9.93 per cent under the capital expenditure and 17.72 per cent under the fiscal management as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the status of revenue collection also paints a dismal picture. In the first quarter, revenue collection stood at 20.08 per cent of the annual target. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has set a target to collect Rs 1422.54 billion in revenue in the current fiscal year but the collection is only Rs 276.64 billion as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the inflation in the country is 7.5 per cent in the first quarter of the current fiscal year against the government’s target to maintain it within 6.5 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the bank and financial institutions are also struggling to expand credit flow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the external sector of the economy has gradually improved with the robust growth in remittance inflow, which recorded 30 per cent growth till November 17. During the first three months of the current fiscal year, Nepal received Rs 365.34 billion in remittances, which is 30 per cent more than the corresponding period of the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the balance of payment is in a surplus of Rs 99.7 billion. In the first quarter, the import has increased by 1.7 per cent while the export has reduced by 2.3 per cent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19251', 'image' => '20231121104356_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-11-21 10:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19521', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1.41 Billion for Earthquake Victims' Temporary Residences', 'sub_title' => '', 'summary' => 'The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The National Disaster Risk Reduction and Management Authority (NDRRMA) announced the release of the first tranche of funds, which will benefit Jajarkot, Rukum Paschim, Bajhang, Bajura, and Salyan districts in accordance with government decisions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the total amount, Jajarkot and Rukum Paschim districts are set to receive Rs 500 million each, said NDRRMA spokesperson Dhruba Bahadur Khadka. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Rs 250 million has been earmarked for Bajhang, Rs 140 million for Bajura, and Rs 20 million for Salyan district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund allocation aligns with the Temporary Residence Construction Guidelines 2080 BS, approved during the Disaster Risk Reduction and Management Executive Committee meeting on November 12.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Khadka emphasized that the first tranche of the fund adheres to these guidelines, ensuring legal facilitation for supporting those affected by the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The selection of beneficiaries will be carried out by the respective local authorities, with funds disbursed according to established laws. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stringent auditing procedures will be implemented to ensure transparent and accountable management of the allocated funds. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19250', 'image' => '20231121055053_collage (17).jpg', 'article_date' => '2023-11-21 05:48:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '19522', 'article_category_id' => '1', 'title' => 'Government to Seek Suggestions from Private Sector', 'sub_title' => '', 'summary' => 'The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discussions with the private sector are scheduled to take place at the Prime Minister's Office in Singh Durbar on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the Prime Minister Pushpa Kamal Dahal 'Prachanda' had held meetings with key ministries, including Finance, the National Planning Commission, and Nepal Rastra Bank, to gain insights into the present economic conditions and chart a course for the future.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We are seeking suggestions from the private sector regarding the current challenges and problems, as well as insights into the future course of action," said Finance Minister Dr. Mahat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During meeting at the PMO, the Finance Minister provided the Prime Minister with a comprehensive overview of the country's economic landscape, while the Governor of Rastra Bank and a representative from the National Planning Commission also shared their perspectives. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19249', 'image' => '20231121060647_collage (18).jpg', 'article_date' => '2023-11-21 06:05:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19519', 'article_category_id' => '1', 'title' => 'NEA Expands Transmission Lines by 3100 Circuit Kilometers in Nine Years', 'sub_title' => '', 'summary' => 'November 20: The Nepal Electricity Authority (NEA) has added 3,118 circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.', '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"">November 20: The Nepal Electricity Authority (NEA) has added </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transmission and distribution lines and substations are required to deliver the electricity produced from the power plants to the customers' homes. For this purpose, the NEA is constructing transmission lines and substations through the Directorate of Transmission and Project Management.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago i.e. in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the capacity of substations was only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA, but in the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> it reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</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"">867</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA.</span></span></span></span></p> <p><span style="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 year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, electricity was being transmitted only from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines but now it is done through </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</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"">132</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"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV lines. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, there were </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">624</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines. By FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">742</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines with the addition of </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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of new lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV transmission lines in the system is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">514</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,979</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively.</span></span></span></span></p> <p><span style="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 length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines is </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"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">148</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively. Last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">413</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">circuit kilometers of transmission lines were added to the 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"">Kulman Ghising, the executive director of the NEA, has admitted that there are problems in the construction of transmission line projects, mainly due to the obstacles created by the locals. In addition to this, there are also problems in land acquisition and use of forest area and tree cutting, and the NEA is working to solve these problems, added Ghising.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On one hand, it takes a long time for the approval of the use of forest area land and tree felling, and on the other hand, a large amount of money has to be paid as compensation to another agency of the government. This not only prolongs the duration of the project, but also increases the price of our produced electricity," said Executive Director Ghising. </span></span></span></span></p> <p><span style="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 an urgent need to declare the next </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years as the country's development decade and comprehensively amend or replace the existing laws and regulations, to facilitate the land use of the forest area, said Ghising, adding that the programs announced in the current fiscal year's budget should be implemented 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"">In order to meet the demand for electricity till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Ghising said that the major cities of the country including Kathmandu have been divided into </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clusters for which the NEA has prepared the transmission and substation structure master plan.</span></span></span></span></p> <p><span style="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 NEA, currently </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,852</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines of various capacities are under construction. A maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,111</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">988</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">754</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction respectively.</span></span></span></span></p> <p><span style="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, </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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">469 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations of various capacities are under construction while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">564 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations are proposed for construction.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19248', 'image' => '20231120013615_20230716115331_eee.jpg', 'article_date' => '2023-11-20 13:35:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19520', 'article_category_id' => '1', 'title' => 'NEPSE Posts Minimal Gain to Close at 1853.48', 'sub_title' => '', 'summary' => 'On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 20: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market's lack of upward momentum is attributed to a prolonged festive period, causing reduced trading activity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prevailing negative investor psychology has influenced the market, preventing it from catching the upward momentum. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a significant number of investors adopting a "wait and watch approach, is also hampering overall market momentum.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, 3,319,558 shares were traded through 44,727 transactions, totaling Rs 1.9 billion, involving 284 scrips. Himalayan Distillery Limited (HDL) led with a turnover exceeding Rs 7 crores, closing at Rs 1737 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) and Karnali Development Bank Limited (KRBL) gained the highest at 9.98% and 9.96%, respectively. Conversely, Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) and Sayapatri Hydropower Limited (SPHL) each lost 10%, hitting the negative circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In sector indices, all sectors closed positively, except Hotels And Tourism, Manufacturing And Processing, Microfinance, and Others. Manufacturing and Processing saw the highest loss at 1.91%, while Trading Index gained the most at 1.42%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index experienced losses of 0.14% and 0.25%, respectively, while Float Index gained 0.08% for the day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19247', 'image' => '20231120042517_collage (1).jpg', 'article_date' => '2023-11-20 16:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '19518', 'article_category_id' => '1', 'title' => 'Light Snowfall Likely in High Hills and Mountainous Regions ', 'sub_title' => '', 'summary' => 'November 20: The Westerly wind is having its partial impact in the country at present. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Westerly wind is having its partial impact in the country at present. The weather will be partly cloudy in the hill region of the country and generally fair in the rest of the regions, the Meteorological Forecasting Division said Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Saroj Pudasaini said that the weather will be partly cloudy in the hill region of the country, including in Gandaki Province, in the afternoon today (Monday) while it will remain generally fair in the rest of the regions. According to him, there is a possibility of light snowfall at one or two places in the high hills and mountainous region of Koshi, Bagmati and Gandaki provinces today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The air temperature in Kahmandu is 17 degrees Celsius and visibility is more than six kilometres at present, the division stated. Meteorologist Pudasaini said the weather will be partly cloudy and the maximum temperature will be between 22 to 24 degrees Celsius in Kathmandu today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly cloudy in the hill areas of Koshi, Bagmati and Gandaki provinces and generally fair in the rest of the country tonight. There are chances of light snowfall at one or two places of the high hills and mountainous areas of Koshi, Bagmati and Gandaki provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19246', 'image' => '20231120013629_20190208014800_aaaa.jpg', 'article_date' => '2023-11-20 13:33:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19516', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Busy in Soliciting Foreign Aid due to Slump in Revenue Collection', 'sub_title' => '', 'summary' => 'November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.', '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"">November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has stepped up his efforts to solicit support from large donor agencies. Due to his active efforts, the government has signed agreements for foreign aid worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last four months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Between mid-July to mid- October, the government has reached separate agreements with the main donor agencies including the World Bank, the Asian Development Bank, the European Union and the Japanese government to receive foreign aid. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion agreement, the government will receive more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 billion as subsidy.</span></span></span></span></p> <p><span style="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 also signed a grant agreement worth Rs </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"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion with the European Union.</span></span></span></span></p> <p><span style="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 grant agreement is to be spent in the fields of education and climate change adaptation. The European Union has signed an agreement with the Government of Nepal to provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the education program for all and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the local climate change adaptation program. </span></span></span></span></p> <p><span style="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 education program for all has the backing of eight donor agencies including the European Union. This program is being run to produce skilled manpower.</span></span></span></span></p> <p><span style="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 Japanese government has signed an agreement to provide a subsidy equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.96</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion to Nepal. The Japanese government will provide the grant for upgrading of the emergency trauma center at Dhulikhel Hospital. Japan's grant will be used to build infrastructure for immediate treatment of victims of emergency accidents.</span></span></span></span></p> <p><span style="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 World Bank has also signed an agreement to provide a grant of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to the Government of Nepal. Along with the grant, the government has entered into a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the World Bank during this period. As per the agreement, the loan will be spent in the health sector of Nepal.</span></span></span></span></p> <p><span style="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 of Nepal is increasing investment in infrastructure and production of skilled manpower to expand health facilities to the local level. The government signed the agreement with the World Bank under the same campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government has also signed a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the Asian Development Bank for the rural road infrastructure improvement project. </span></span></span></span></p> <p><span style="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 officials of the Ministry of Finance, the government has prioritized foreign aid as the revenue, the main source of government’s income, has not been raised as expected. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Support from donor agencies is increasing, this will help the government's financial system which is under pressure," a senior official of the International Financial Aid Coordination Division under the Ministry of Finance told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If we look at the status of revenue collection, the government has collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">276</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"">64</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion till mid-October of the current fiscal year. This is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target. Tax revenue collected during this period is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">254</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"">30</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and the non-tax revenue is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</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 the officials of the finance ministry, the government has been facing problems to meet the revenue collection target from the beginning 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"">Finance Minister Mahat announced a 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""> billion for the current fiscal year. So far </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 budget has been spent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Mahat said that the government will raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1248</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"">62</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from revenue and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</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 from foreign grants.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government plans to raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">212</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"">75 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign loans and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">240 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from internal loans. </span></span></span></span></p> <p><span style="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 first four months of the current fiscal year, the government has already taken internal loans 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"">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"">As the main source of revenue is shrinking, the government has been criticized for meeting its financial liabilities by taking internal debt. Government officials have been rejecting this accusation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Keshav Acharya says that the government’s finances are deteriorating due to the lack of responsibility and accountability among top political leadership and high-level employees. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19245', 'image' => '20231120012342_finance_ministry_copy1.jpg', 'article_date' => '2023-11-20 13:23:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19517', 'article_category_id' => '1', 'title' => 'Aftershock Jolts Bajhang ', 'sub_title' => '', 'summary' => 'November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist at the Centre, Dr Lokbijaya Adhikari said another aftershock jolted Bajhang following the tremor at Dhamena. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"An aftershock measuring 4.5 on the Richter scale took place with its epicentre at Dhamena. Information has been received that the aftershock was felt in surrounding districts of Bajhang as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An earthquake measuring 6.3 on the Richter scale with epicentre in Bajhang had jolted the district on October 3. Many aftershocks have occurred following this quake, according to the Centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19244', 'image' => '20231120013040_earth.jpg', 'article_date' => '2023-11-20 13:29:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19515', 'article_category_id' => '1', 'title' => 'Interest on Loans Starts Declining', 'sub_title' => '', 'summary' => 'November 20: Banks and financial institutions (BFIs) have reduced the interest rates on deposits. As a result, the interests on bank loans have also started declining. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 20: Banks and financial institutions (BFIs) have reduced the interest rates on deposits. As a result, the interests on bank loans have also started declining. The reduction in interest rates on deposits has lowered the base rate and operating cost of banks and therefore the interest on loans have also been revised.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data of Nepal Rastra Bank (NRB), the average interest rate on loans of commercial banks has dropped to 12.11 percent in mid-September to mid-October of the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The average interest on loans in mid-July to mid-August was 12.24 percent. The average base rate of commercial banks, which was 10.11 percent in mid-August, fell to 9.94 percent in mid-October. After the base rate has decreased, the interest on loans also decreased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the interest rates of development banks have increased in mid-September to mid-October compared to the one month period of mid-July to mid-August. In mid-August, the average interest rate on loans of development banks was 13.88 percent, which increased to 13.91 percent in mid-October. However, the interest rates of development banks in mid-September to mid-October is less compared to that of mid-August to mid-September.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the average interest rate on loans of finance companies has also decreased. The average interest rate on loans of finance companies was 14.66 percent in mid-July to mid-August, which dropped to 14.61 percent in mid-September to mid-October. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the banks had increased the interest rates on deposits due to the lack of liquidity which increased the operating cost of banks. It resulted in high interest on bank loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In recent times, bank deposits have been increasing due to the increase in remittance inflows and an increase in economic activities. As the banks started reducing the interest rate on deposits, the interest on loans also started to decline. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Bankers Association Sunil KC says that the base rate has been lowered and the banks have also reduced the premium, so the interest on loans is decreasing. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Currently, there is not much demand for loans compared to the increase in deposits," he said, adding, "As banks have also reduced the premium to increase investment, interest on loans is declining."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the instructions of the Nepal Rastra Bank regarding interest rate determination, banks are allowed to increase or decrease the interest rates by 10 percent every month. Similarly, there is a provision that banks should publish the interest rate applicable for every month a day before the start of the new month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks are required to pay 1 percentage point more for deposits through remittance and 2 percentage points less for institutional depositors than for individual deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-November of the current fiscal year, deposits in banks and financial institutions have increased by 2.8 percent and credit flow by 2.3 percent. During the same period of the last fiscal year, deposits increased by 0.4 percent and lending increased by 1.3 percent. However, compared to the previous months, the demand for loans has started to increase, according to the report of the central bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, the interest rates on deposits and loans have started to decrease along with the base rate of banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the deposit collection is higher than credit flow, the credit-deposit ratio (CD ratio) of banks has also decreased. On November 7, the average CD ratio of banks remained at 81.31 percent. According to the central bank, banks can extend credit flow by maintaining a CD ratio of up to 90 percent. So, the banks have the capacity to provide additional loans of about Rs 514 billion.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19243', 'image' => '20231120122549_Banks - Copy.jpg', 'article_date' => '2023-11-20 12:24:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19514', 'article_category_id' => '1', 'title' => 'FNCCI Seeks Suggestions from its Members for National Economic Discourse ', 'sub_title' => '', 'summary' => 'November 20: The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has solicited suggestions from its members in a bid to help address the existing economic crisis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has solicited suggestions from its members in a bid to help address the existing economic crisis. The umbrella organization of the of Nepalese private sector demanded suggestions as a part of its national economic discourse. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting presided over by FNCCI President Chandra Prasad Dhakal on October 12 had presented a proposal to the government seeking formation of a high-level mechanism to which Prime Minister Pushpa Kamal Dahal had responded affirmatively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI is gearing up for the next leg of discourse soon. A circular has been issued to its members in all districts asking them to furnish suggestions to the government on the next course of action to address the ongoing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI then will compile and present a host of recommendations to the government for it to put in place private sector-friendly economic policies as well as to come up with resolutions to address the economic crisis. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19242', 'image' => '20231120112653_fncci-building_sHPipJwM5k.jpg', 'article_date' => '2023-11-20 11:23:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19513', 'article_category_id' => '1', 'title' => 'Chhath Festival Concludes by Offering Worship to the Rising Sun ', 'sub_title' => '', 'summary' => 'November 20: The Chhath festival has concluded after offering worships to the rising Sun in entire Mithila region, including Mahottari this morning (Monday). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Chhath festival has concluded after offering worships to the rising Sun in entire Mithila region, including Mahottari this morning (Monday). </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Devotees offered curd to the rising Sun on Monday, the fourth day of the festival, from the banks of rivers and ponds especially in the Mithila region as well as other places across the country to mark the end of the festivities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This festival is mainly observed in the Mithila region including Mahottari, Dhanusha, Siraha, Saptari, Sunsari, Morang, Sarlahi, Rautahat, Bara and Parsa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The main feature of this festival is to increase human beings’ interest in truth and non-violence and encourage them to remain sympathetic to all living creatures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The rising and setting suns are worshipped with devotion during the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chhath is a festival of goodwill, faith, and social harmony as people from all backgrounds come together in a common place to offer worship to the Sun God. It is widely believed that appeasing the Sun God brings happiness, prosperity, well-being, and longevity to family members. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19241', 'image' => '20231120105136_20231119102851_20211107101945_1260843_n - Copy.jpg', 'article_date' => '2023-11-20 10:50:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19512', 'article_category_id' => '1', 'title' => '23 Local Governments Fail to Submit Budget Details on Time', 'sub_title' => '', 'summary' => 'November 20: Twenty-three local governments have not yet submitted the details of the budget they presented for the current fiscal to the Ministry of Federal Affairs and General Administration. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">November 20: Twenty-three local governments have not yet submitted the details of the budget they presented for the current fiscal to the Ministry of Federal Affairs and General Administration. The local-levels are required to update the details of the annual budget in the central portal after it is endorsed by rural and municipal assemblies. The Local Government Operation Act, 2074 BS mandates the local governments to endorse the budget by mid-July. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Though four months have already passed since the beginning of the current fiscal year (FY 2023-24), a total of 23 local governments including 21 in the Madhesh Province have not updated the details in the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, it has already asked those local-levels many times for the submission of the details, but they are still awaiting the update. It is said budgets brought for some local levels have not been endorsed by the rural and municipal assemblies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chitwan's Rapti municipality’s chief administrative officer Nilam Kumar Neupane said the budget for the local government had been already passed but the entry in the federal system is waited while Tehrathum's Aathrai rural municipality’s administrative officer Niraj Sharma said the budget details have yet to be updated in the ministry's website. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Other municipalities that are yet to submit the budget details to the federal ministry include Kanchanrup municipality, Chhinnamasta rural municipality, Mahadeva rural municipality and Rupani Municipality in Saptari, Aurahi rural municipality and Bhagawanpur rural municipality in Siraha, Aurahi rural municipality and Kamala municipality in Dhanusha, Balara municipality, Haripurwa municipality and Chandranagar rural municipality in Sarlahi, Garuda municipality, Katahariya municipality, Gadhimai municipality, Phatuwa Bijaypur municipality, Madhabnarayan municipality, Maulapur municipality and Yamunamai rural municipality in Rautahat, Simraungadh municipality and Adarsha Kotwal rural municipality in Bara and Sakhuwa Prasauni rural municipality in Parsa. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19240', 'image' => '20231120101241_20231020014803_20230714023452_1683767264.jpg', 'article_date' => '2023-11-20 10:11:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19510', 'article_category_id' => '1', 'title' => 'Australia Crushes India to win Sixth World Cup Title', 'sub_title' => '', 'summary' => 'November 19: Opener Travis Head hit a sparkling 137 to power Australia to a record-extending sixth World Cup title with a convincing six-wicket win over India in Ahmedabad on Sunday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 19: Opener Travis Head hit a sparkling 137 to power Australia to a record-extending sixth World Cup title with a convincing six-wicket win over India in Ahmedabad on Sunday.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chasing a tricky 241 for victory in the final, Australia slipped to 47-3 before the left-handed Head hit his second century of the tournament to steer the team home with seven overs to spare.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head's knock and his marathon stand of 192 with Marnus Labuschagne, unbeaten on 58, ended India's dominant run of 10 unbeaten matches at the event.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head fell after his 120-ball knock laced with 15 fours and four sixes before Glenn Maxwell hit the winning runs to trigger wild celebrations in the Aussie camp.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India's chances of ending a global trophy drought since their 2013 Champions Trophy win went up in smoke once Head got going with Labuschagne.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head's century was the seventh in a World Cup final and third by an Australian after Ricky Ponting (140 not out v India in 2003) and Adam Gilchrist (149 v Sri Lanka in 2007).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bowlers set up victory for an Australian side that bounced back after two losses to win nine in a row as Mitchell Starc (3-55) and Pat Cummins (2-34) helped bowl out India for 240.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India hit back when Mohammed Shami shared the new ball with Jasprit Bumrah and struck on his second delivery to get David Warner caught behind for seven.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But it was Bumrah's double strike in quick succession that raised the roof as he had Mitchell Marsh caught behind for 15 and Steve Smith lbw for four.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head stood firm with Labuschagne for company to thwart the Indian attack despite captain Rohit Sharma rotating his bowlers in a hunt for a breakthrough.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head, who suffered a fractured hand in South Africa in September, was in danger of missing the World Cup but Australia kept him in the squad until he was fit to play.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He hit a match-winning century against New Zealand in the team's sixth league game and after a few low scores hit an attacking 62 in his team's nervy three-wicket semi-final win over South Africa in Kolkata.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He turned India's nemesis a second time this year after his 163 proved decisive in Australia's World Test Championship triumph at the Oval in June.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head reached his 100 in 95 balls and raised his bat to an applauding Australian dressing room.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Australia elected to field first and the players backed up Cummins' decision with disciplined bowling and impressive fielding.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Virat Kohli and KL Rahul hit 54 and 66 respectively after Rohit's attacking 47 but the ball dominated the bat on a slow, dry pitch.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head took a stunning catch while running back from cover point to cut short Rohit's innings off spinner Maxwell.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Cummins bowled Kohli, who ended as the leading batsman in tournament with 765 runs, to silence the crowd of 92,453 fans, who like the home team in the middle had an unforgettable day. – AFP/AP/RSS</span></span></p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => 'Australia, India, World, Cup, title, Head, hundred, cricket', 'description' => '', 'sortorder' => '19238', 'image' => '20231119104701_AP23323405001701.jpg', 'article_date' => '2023-11-19 22:46:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19509', 'article_category_id' => '1', 'title' => 'Citizens Bank International Gives Rs 2.5 Million to Tremor Victims', 'sub_title' => '', 'summary' => 'Citizens Bank International Limited has provided Rs 2.5 million to Prime Minister disaster relief and rescue fund to support the earthquake affected locals in Jajarkot and Rukum west.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">November 19: Citizens Bank International Limited has provided Rs 2.5 million to Prime Minister disaster relief and rescue fund to support the earthquake affected locals in Jajarkot and Rukum west.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The bank made the financial contribution to the earthquake victims in Jajarkot and Rukum West under its Corporate Social Responsibility(CSR). </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The bank has been delivering banking services through 188 branches, 97 branchless banking units and 148 ATM booths from across the country.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '19237', 'image' => '20231119040903_collage.jpg', 'article_date' => '2023-11-19 16:08:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19508', 'article_category_id' => '1', 'title' => 'Nepal SBI Bank Provides Rs 2 Million to Quake Victims', 'sub_title' => '', 'summary' => 'Nepal SBI Bank Ltd. (NSBL) has contributed Rs 2 million to the Prime Minister Disaster Relief Fund set up for the victims of earthquake in Jajarkot and Rukum West.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">November 19: Nepal SBI Bank Ltd. (NSBL) has contributed Rs 2 million to the Prime Minister Disaster Relief Fund set up for the victims of earthquake in Jajarkot and Rukum West.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">A cheque for Rs 2 million was handed over by the bank’s Chief Executive Officer Dipak Kumar De to Press Advisor to Prime Minister, Mr. Govinda Acharya at Prime Ministers’ Office, Singha Durbar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">Earlier, the bank had also distributed food items to the earthquake-affected people of Jajarkot and Rukum West District.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The Bank has been providing its banking services through 96 branches, 22 extension counters, 7 province offices and one corporate office along with 121 ATMs.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '19236', 'image' => '20231119033535_collage (3).jpg', 'article_date' => '2023-11-19 15:33:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Sunday held discussions with representatives from various line ministries, the National Planning Commission, Nepal Rastra Bank among others to take stock about the current state of the country’s economy and the ways to address the national economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the office-bearers of the ruling Nepali Congress also deliberated on the economic situation of the country. Minister for Finance Dr Prakash Sharan Mahat briefed the meeting about the economic state of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The participants of the meeting viewed that the government should take a step immediately to revitalize the national economy. They opined that attention should be paid to post-quake relief and reconstruction operation for the earthquake survivors in Jajarkot and Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The internal indices of the economy are still in crisis although there are signs of general improvement in the external indices lately. Problems plaguing the national economy at present are lax implementation of government's annual polices, programmes and budget and low capital expenditure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reduction in credit flow and high interest rate, reduction in the consumers' demand, declining morale of the private sector and failure in increasing domestic productivity among others have also led to flagging economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector has been continuously exerting pressure on the government saying it has been too late to take initiatives to resolve the problems of the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organisation of the private sector, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), hosted a 'National Economic Talks' on October 12, to find out solutions to the existing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the proposal of the private sector in course of discussion, Prime Minister Dahal had said a high-level mechanism could be formed to reform the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government and private sector are univocal that all sides and sectors should move ahead through collective efforts with responsibility in order to resolve the problems seen in economy. The private sector has been demanding since a long time that it is necessary to immediately form an Economic Reforms Commission or any high-level mechanism with legal authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the government through its policy and programme and budget of the current fiscal year had initiated some measures for policy and procedural reforms, the implementation side is weak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to host an international investment summit in third week of April 2024. A proposal to organise the investment summit has reached the cabinet. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">What is the condition of economy?</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first quarter of the current fiscal year, the government's expenditure has been just 20 per cent of the annual target. According to the Office of the Financial Comptroller General, the government's spending is over Rs 355.63 billion till the second week of November. Categorically, the government spending is 23.75 per cent under the current expenditure, 9.93 per cent under the capital expenditure and 17.72 per cent under the fiscal management as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the status of revenue collection also paints a dismal picture. In the first quarter, revenue collection stood at 20.08 per cent of the annual target. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has set a target to collect Rs 1422.54 billion in revenue in the current fiscal year but the collection is only Rs 276.64 billion as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the inflation in the country is 7.5 per cent in the first quarter of the current fiscal year against the government’s target to maintain it within 6.5 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the bank and financial institutions are also struggling to expand credit flow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the external sector of the economy has gradually improved with the robust growth in remittance inflow, which recorded 30 per cent growth till November 17. During the first three months of the current fiscal year, Nepal received Rs 365.34 billion in remittances, which is 30 per cent more than the corresponding period of the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the balance of payment is in a surplus of Rs 99.7 billion. In the first quarter, the import has increased by 1.7 per cent while the export has reduced by 2.3 per cent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19251', 'image' => '20231121104356_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-11-21 10:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19521', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1.41 Billion for Earthquake Victims' Temporary Residences', 'sub_title' => '', 'summary' => 'The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The National Disaster Risk Reduction and Management Authority (NDRRMA) announced the release of the first tranche of funds, which will benefit Jajarkot, Rukum Paschim, Bajhang, Bajura, and Salyan districts in accordance with government decisions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the total amount, Jajarkot and Rukum Paschim districts are set to receive Rs 500 million each, said NDRRMA spokesperson Dhruba Bahadur Khadka. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Rs 250 million has been earmarked for Bajhang, Rs 140 million for Bajura, and Rs 20 million for Salyan district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund allocation aligns with the Temporary Residence Construction Guidelines 2080 BS, approved during the Disaster Risk Reduction and Management Executive Committee meeting on November 12.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Khadka emphasized that the first tranche of the fund adheres to these guidelines, ensuring legal facilitation for supporting those affected by the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The selection of beneficiaries will be carried out by the respective local authorities, with funds disbursed according to established laws. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stringent auditing procedures will be implemented to ensure transparent and accountable management of the allocated funds. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19250', 'image' => '20231121055053_collage (17).jpg', 'article_date' => '2023-11-21 05:48:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '19522', 'article_category_id' => '1', 'title' => 'Government to Seek Suggestions from Private Sector', 'sub_title' => '', 'summary' => 'The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discussions with the private sector are scheduled to take place at the Prime Minister's Office in Singh Durbar on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the Prime Minister Pushpa Kamal Dahal 'Prachanda' had held meetings with key ministries, including Finance, the National Planning Commission, and Nepal Rastra Bank, to gain insights into the present economic conditions and chart a course for the future.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We are seeking suggestions from the private sector regarding the current challenges and problems, as well as insights into the future course of action," said Finance Minister Dr. Mahat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During meeting at the PMO, the Finance Minister provided the Prime Minister with a comprehensive overview of the country's economic landscape, while the Governor of Rastra Bank and a representative from the National Planning Commission also shared their perspectives. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19249', 'image' => '20231121060647_collage (18).jpg', 'article_date' => '2023-11-21 06:05:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19519', 'article_category_id' => '1', 'title' => 'NEA Expands Transmission Lines by 3100 Circuit Kilometers in Nine Years', 'sub_title' => '', 'summary' => 'November 20: The Nepal Electricity Authority (NEA) has added 3,118 circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.', '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"">November 20: The Nepal Electricity Authority (NEA) has added </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transmission and distribution lines and substations are required to deliver the electricity produced from the power plants to the customers' homes. For this purpose, the NEA is constructing transmission lines and substations through the Directorate of Transmission and Project Management.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago i.e. in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the capacity of substations was only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA, but in the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> it reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</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"">867</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA.</span></span></span></span></p> <p><span style="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 year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, electricity was being transmitted only from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines but now it is done through </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</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"">132</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"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV lines. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, there were </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">624</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines. By FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">742</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines with the addition of </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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of new lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV transmission lines in the system is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">514</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,979</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively.</span></span></span></span></p> <p><span style="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 length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines is </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"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">148</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively. Last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">413</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">circuit kilometers of transmission lines were added to the 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"">Kulman Ghising, the executive director of the NEA, has admitted that there are problems in the construction of transmission line projects, mainly due to the obstacles created by the locals. In addition to this, there are also problems in land acquisition and use of forest area and tree cutting, and the NEA is working to solve these problems, added Ghising.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On one hand, it takes a long time for the approval of the use of forest area land and tree felling, and on the other hand, a large amount of money has to be paid as compensation to another agency of the government. This not only prolongs the duration of the project, but also increases the price of our produced electricity," said Executive Director Ghising. </span></span></span></span></p> <p><span style="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 an urgent need to declare the next </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years as the country's development decade and comprehensively amend or replace the existing laws and regulations, to facilitate the land use of the forest area, said Ghising, adding that the programs announced in the current fiscal year's budget should be implemented 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"">In order to meet the demand for electricity till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Ghising said that the major cities of the country including Kathmandu have been divided into </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clusters for which the NEA has prepared the transmission and substation structure master plan.</span></span></span></span></p> <p><span style="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 NEA, currently </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,852</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines of various capacities are under construction. A maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,111</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">988</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">754</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction respectively.</span></span></span></span></p> <p><span style="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, </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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">469 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations of various capacities are under construction while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">564 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations are proposed for construction.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19248', 'image' => '20231120013615_20230716115331_eee.jpg', 'article_date' => '2023-11-20 13:35:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19520', 'article_category_id' => '1', 'title' => 'NEPSE Posts Minimal Gain to Close at 1853.48', 'sub_title' => '', 'summary' => 'On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 20: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market's lack of upward momentum is attributed to a prolonged festive period, causing reduced trading activity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prevailing negative investor psychology has influenced the market, preventing it from catching the upward momentum. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a significant number of investors adopting a "wait and watch approach, is also hampering overall market momentum.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, 3,319,558 shares were traded through 44,727 transactions, totaling Rs 1.9 billion, involving 284 scrips. Himalayan Distillery Limited (HDL) led with a turnover exceeding Rs 7 crores, closing at Rs 1737 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) and Karnali Development Bank Limited (KRBL) gained the highest at 9.98% and 9.96%, respectively. Conversely, Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) and Sayapatri Hydropower Limited (SPHL) each lost 10%, hitting the negative circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In sector indices, all sectors closed positively, except Hotels And Tourism, Manufacturing And Processing, Microfinance, and Others. Manufacturing and Processing saw the highest loss at 1.91%, while Trading Index gained the most at 1.42%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index experienced losses of 0.14% and 0.25%, respectively, while Float Index gained 0.08% for the day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19247', 'image' => '20231120042517_collage (1).jpg', 'article_date' => '2023-11-20 16:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '19518', 'article_category_id' => '1', 'title' => 'Light Snowfall Likely in High Hills and Mountainous Regions ', 'sub_title' => '', 'summary' => 'November 20: The Westerly wind is having its partial impact in the country at present. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Westerly wind is having its partial impact in the country at present. The weather will be partly cloudy in the hill region of the country and generally fair in the rest of the regions, the Meteorological Forecasting Division said Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Saroj Pudasaini said that the weather will be partly cloudy in the hill region of the country, including in Gandaki Province, in the afternoon today (Monday) while it will remain generally fair in the rest of the regions. According to him, there is a possibility of light snowfall at one or two places in the high hills and mountainous region of Koshi, Bagmati and Gandaki provinces today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The air temperature in Kahmandu is 17 degrees Celsius and visibility is more than six kilometres at present, the division stated. Meteorologist Pudasaini said the weather will be partly cloudy and the maximum temperature will be between 22 to 24 degrees Celsius in Kathmandu today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly cloudy in the hill areas of Koshi, Bagmati and Gandaki provinces and generally fair in the rest of the country tonight. There are chances of light snowfall at one or two places of the high hills and mountainous areas of Koshi, Bagmati and Gandaki provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19246', 'image' => '20231120013629_20190208014800_aaaa.jpg', 'article_date' => '2023-11-20 13:33:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19516', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Busy in Soliciting Foreign Aid due to Slump in Revenue Collection', 'sub_title' => '', 'summary' => 'November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.', '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"">November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has stepped up his efforts to solicit support from large donor agencies. Due to his active efforts, the government has signed agreements for foreign aid worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last four months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Between mid-July to mid- October, the government has reached separate agreements with the main donor agencies including the World Bank, the Asian Development Bank, the European Union and the Japanese government to receive foreign aid. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion agreement, the government will receive more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 billion as subsidy.</span></span></span></span></p> <p><span style="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 also signed a grant agreement worth Rs </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"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion with the European Union.</span></span></span></span></p> <p><span style="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 grant agreement is to be spent in the fields of education and climate change adaptation. The European Union has signed an agreement with the Government of Nepal to provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the education program for all and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the local climate change adaptation program. </span></span></span></span></p> <p><span style="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 education program for all has the backing of eight donor agencies including the European Union. This program is being run to produce skilled manpower.</span></span></span></span></p> <p><span style="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 Japanese government has signed an agreement to provide a subsidy equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.96</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion to Nepal. The Japanese government will provide the grant for upgrading of the emergency trauma center at Dhulikhel Hospital. Japan's grant will be used to build infrastructure for immediate treatment of victims of emergency accidents.</span></span></span></span></p> <p><span style="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 World Bank has also signed an agreement to provide a grant of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to the Government of Nepal. Along with the grant, the government has entered into a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the World Bank during this period. As per the agreement, the loan will be spent in the health sector of Nepal.</span></span></span></span></p> <p><span style="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 of Nepal is increasing investment in infrastructure and production of skilled manpower to expand health facilities to the local level. The government signed the agreement with the World Bank under the same campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government has also signed a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the Asian Development Bank for the rural road infrastructure improvement project. </span></span></span></span></p> <p><span style="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 officials of the Ministry of Finance, the government has prioritized foreign aid as the revenue, the main source of government’s income, has not been raised as expected. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Support from donor agencies is increasing, this will help the government's financial system which is under pressure," a senior official of the International Financial Aid Coordination Division under the Ministry of Finance told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If we look at the status of revenue collection, the government has collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">276</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"">64</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion till mid-October of the current fiscal year. This is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target. Tax revenue collected during this period is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">254</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"">30</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and the non-tax revenue is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</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 the officials of the finance ministry, the government has been facing problems to meet the revenue collection target from the beginning 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"">Finance Minister Mahat announced a 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""> billion for the current fiscal year. So far </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 budget has been spent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Mahat said that the government will raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1248</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"">62</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from revenue and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</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 from foreign grants.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government plans to raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">212</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"">75 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign loans and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">240 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from internal loans. </span></span></span></span></p> <p><span style="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 first four months of the current fiscal year, the government has already taken internal loans 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"">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"">As the main source of revenue is shrinking, the government has been criticized for meeting its financial liabilities by taking internal debt. Government officials have been rejecting this accusation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Keshav Acharya says that the government’s finances are deteriorating due to the lack of responsibility and accountability among top political leadership and high-level employees. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19245', 'image' => '20231120012342_finance_ministry_copy1.jpg', 'article_date' => '2023-11-20 13:23:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19517', 'article_category_id' => '1', 'title' => 'Aftershock Jolts Bajhang ', 'sub_title' => '', 'summary' => 'November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist at the Centre, Dr Lokbijaya Adhikari said another aftershock jolted Bajhang following the tremor at Dhamena. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"An aftershock measuring 4.5 on the Richter scale took place with its epicentre at Dhamena. Information has been received that the aftershock was felt in surrounding districts of Bajhang as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An earthquake measuring 6.3 on the Richter scale with epicentre in Bajhang had jolted the district on October 3. Many aftershocks have occurred following this quake, according to the Centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19244', 'image' => '20231120013040_earth.jpg', 'article_date' => '2023-11-20 13:29:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19515', 'article_category_id' => '1', 'title' => 'Interest on Loans Starts Declining', 'sub_title' => '', 'summary' => 'November 20: Banks and financial institutions (BFIs) have reduced the interest rates on deposits. As a result, the interests on bank loans have also started declining. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 20: Banks and financial institutions (BFIs) have reduced the interest rates on deposits. As a result, the interests on bank loans have also started declining. The reduction in interest rates on deposits has lowered the base rate and operating cost of banks and therefore the interest on loans have also been revised.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data of Nepal Rastra Bank (NRB), the average interest rate on loans of commercial banks has dropped to 12.11 percent in mid-September to mid-October of the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The average interest on loans in mid-July to mid-August was 12.24 percent. The average base rate of commercial banks, which was 10.11 percent in mid-August, fell to 9.94 percent in mid-October. After the base rate has decreased, the interest on loans also decreased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the interest rates of development banks have increased in mid-September to mid-October compared to the one month period of mid-July to mid-August. In mid-August, the average interest rate on loans of development banks was 13.88 percent, which increased to 13.91 percent in mid-October. However, the interest rates of development banks in mid-September to mid-October is less compared to that of mid-August to mid-September.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the average interest rate on loans of finance companies has also decreased. The average interest rate on loans of finance companies was 14.66 percent in mid-July to mid-August, which dropped to 14.61 percent in mid-September to mid-October. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the banks had increased the interest rates on deposits due to the lack of liquidity which increased the operating cost of banks. It resulted in high interest on bank loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In recent times, bank deposits have been increasing due to the increase in remittance inflows and an increase in economic activities. As the banks started reducing the interest rate on deposits, the interest on loans also started to decline. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Bankers Association Sunil KC says that the base rate has been lowered and the banks have also reduced the premium, so the interest on loans is decreasing. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Currently, there is not much demand for loans compared to the increase in deposits," he said, adding, "As banks have also reduced the premium to increase investment, interest on loans is declining."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the instructions of the Nepal Rastra Bank regarding interest rate determination, banks are allowed to increase or decrease the interest rates by 10 percent every month. Similarly, there is a provision that banks should publish the interest rate applicable for every month a day before the start of the new month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks are required to pay 1 percentage point more for deposits through remittance and 2 percentage points less for institutional depositors than for individual deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-November of the current fiscal year, deposits in banks and financial institutions have increased by 2.8 percent and credit flow by 2.3 percent. During the same period of the last fiscal year, deposits increased by 0.4 percent and lending increased by 1.3 percent. However, compared to the previous months, the demand for loans has started to increase, according to the report of the central bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, the interest rates on deposits and loans have started to decrease along with the base rate of banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the deposit collection is higher than credit flow, the credit-deposit ratio (CD ratio) of banks has also decreased. On November 7, the average CD ratio of banks remained at 81.31 percent. According to the central bank, banks can extend credit flow by maintaining a CD ratio of up to 90 percent. So, the banks have the capacity to provide additional loans of about Rs 514 billion.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19243', 'image' => '20231120122549_Banks - Copy.jpg', 'article_date' => '2023-11-20 12:24:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19514', 'article_category_id' => '1', 'title' => 'FNCCI Seeks Suggestions from its Members for National Economic Discourse ', 'sub_title' => '', 'summary' => 'November 20: The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has solicited suggestions from its members in a bid to help address the existing economic crisis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has solicited suggestions from its members in a bid to help address the existing economic crisis. The umbrella organization of the of Nepalese private sector demanded suggestions as a part of its national economic discourse. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting presided over by FNCCI President Chandra Prasad Dhakal on October 12 had presented a proposal to the government seeking formation of a high-level mechanism to which Prime Minister Pushpa Kamal Dahal had responded affirmatively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI is gearing up for the next leg of discourse soon. A circular has been issued to its members in all districts asking them to furnish suggestions to the government on the next course of action to address the ongoing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI then will compile and present a host of recommendations to the government for it to put in place private sector-friendly economic policies as well as to come up with resolutions to address the economic crisis. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19242', 'image' => '20231120112653_fncci-building_sHPipJwM5k.jpg', 'article_date' => '2023-11-20 11:23:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19513', 'article_category_id' => '1', 'title' => 'Chhath Festival Concludes by Offering Worship to the Rising Sun ', 'sub_title' => '', 'summary' => 'November 20: The Chhath festival has concluded after offering worships to the rising Sun in entire Mithila region, including Mahottari this morning (Monday). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Chhath festival has concluded after offering worships to the rising Sun in entire Mithila region, including Mahottari this morning (Monday). </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Devotees offered curd to the rising Sun on Monday, the fourth day of the festival, from the banks of rivers and ponds especially in the Mithila region as well as other places across the country to mark the end of the festivities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This festival is mainly observed in the Mithila region including Mahottari, Dhanusha, Siraha, Saptari, Sunsari, Morang, Sarlahi, Rautahat, Bara and Parsa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The main feature of this festival is to increase human beings’ interest in truth and non-violence and encourage them to remain sympathetic to all living creatures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The rising and setting suns are worshipped with devotion during the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chhath is a festival of goodwill, faith, and social harmony as people from all backgrounds come together in a common place to offer worship to the Sun God. It is widely believed that appeasing the Sun God brings happiness, prosperity, well-being, and longevity to family members. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19241', 'image' => '20231120105136_20231119102851_20211107101945_1260843_n - Copy.jpg', 'article_date' => '2023-11-20 10:50:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19512', 'article_category_id' => '1', 'title' => '23 Local Governments Fail to Submit Budget Details on Time', 'sub_title' => '', 'summary' => 'November 20: Twenty-three local governments have not yet submitted the details of the budget they presented for the current fiscal to the Ministry of Federal Affairs and General Administration. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">November 20: Twenty-three local governments have not yet submitted the details of the budget they presented for the current fiscal to the Ministry of Federal Affairs and General Administration. The local-levels are required to update the details of the annual budget in the central portal after it is endorsed by rural and municipal assemblies. The Local Government Operation Act, 2074 BS mandates the local governments to endorse the budget by mid-July. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Though four months have already passed since the beginning of the current fiscal year (FY 2023-24), a total of 23 local governments including 21 in the Madhesh Province have not updated the details in the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, it has already asked those local-levels many times for the submission of the details, but they are still awaiting the update. It is said budgets brought for some local levels have not been endorsed by the rural and municipal assemblies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chitwan's Rapti municipality’s chief administrative officer Nilam Kumar Neupane said the budget for the local government had been already passed but the entry in the federal system is waited while Tehrathum's Aathrai rural municipality’s administrative officer Niraj Sharma said the budget details have yet to be updated in the ministry's website. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Other municipalities that are yet to submit the budget details to the federal ministry include Kanchanrup municipality, Chhinnamasta rural municipality, Mahadeva rural municipality and Rupani Municipality in Saptari, Aurahi rural municipality and Bhagawanpur rural municipality in Siraha, Aurahi rural municipality and Kamala municipality in Dhanusha, Balara municipality, Haripurwa municipality and Chandranagar rural municipality in Sarlahi, Garuda municipality, Katahariya municipality, Gadhimai municipality, Phatuwa Bijaypur municipality, Madhabnarayan municipality, Maulapur municipality and Yamunamai rural municipality in Rautahat, Simraungadh municipality and Adarsha Kotwal rural municipality in Bara and Sakhuwa Prasauni rural municipality in Parsa. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19240', 'image' => '20231120101241_20231020014803_20230714023452_1683767264.jpg', 'article_date' => '2023-11-20 10:11:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19510', 'article_category_id' => '1', 'title' => 'Australia Crushes India to win Sixth World Cup Title', 'sub_title' => '', 'summary' => 'November 19: Opener Travis Head hit a sparkling 137 to power Australia to a record-extending sixth World Cup title with a convincing six-wicket win over India in Ahmedabad on Sunday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 19: Opener Travis Head hit a sparkling 137 to power Australia to a record-extending sixth World Cup title with a convincing six-wicket win over India in Ahmedabad on Sunday.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chasing a tricky 241 for victory in the final, Australia slipped to 47-3 before the left-handed Head hit his second century of the tournament to steer the team home with seven overs to spare.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head's knock and his marathon stand of 192 with Marnus Labuschagne, unbeaten on 58, ended India's dominant run of 10 unbeaten matches at the event.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head fell after his 120-ball knock laced with 15 fours and four sixes before Glenn Maxwell hit the winning runs to trigger wild celebrations in the Aussie camp.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India's chances of ending a global trophy drought since their 2013 Champions Trophy win went up in smoke once Head got going with Labuschagne.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head's century was the seventh in a World Cup final and third by an Australian after Ricky Ponting (140 not out v India in 2003) and Adam Gilchrist (149 v Sri Lanka in 2007).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bowlers set up victory for an Australian side that bounced back after two losses to win nine in a row as Mitchell Starc (3-55) and Pat Cummins (2-34) helped bowl out India for 240.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India hit back when Mohammed Shami shared the new ball with Jasprit Bumrah and struck on his second delivery to get David Warner caught behind for seven.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But it was Bumrah's double strike in quick succession that raised the roof as he had Mitchell Marsh caught behind for 15 and Steve Smith lbw for four.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head stood firm with Labuschagne for company to thwart the Indian attack despite captain Rohit Sharma rotating his bowlers in a hunt for a breakthrough.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head, who suffered a fractured hand in South Africa in September, was in danger of missing the World Cup but Australia kept him in the squad until he was fit to play.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He hit a match-winning century against New Zealand in the team's sixth league game and after a few low scores hit an attacking 62 in his team's nervy three-wicket semi-final win over South Africa in Kolkata.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He turned India's nemesis a second time this year after his 163 proved decisive in Australia's World Test Championship triumph at the Oval in June.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head reached his 100 in 95 balls and raised his bat to an applauding Australian dressing room.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Australia elected to field first and the players backed up Cummins' decision with disciplined bowling and impressive fielding.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Virat Kohli and KL Rahul hit 54 and 66 respectively after Rohit's attacking 47 but the ball dominated the bat on a slow, dry pitch.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head took a stunning catch while running back from cover point to cut short Rohit's innings off spinner Maxwell.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Cummins bowled Kohli, who ended as the leading batsman in tournament with 765 runs, to silence the crowd of 92,453 fans, who like the home team in the middle had an unforgettable day. – AFP/AP/RSS</span></span></p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => 'Australia, India, World, Cup, title, Head, hundred, cricket', 'description' => '', 'sortorder' => '19238', 'image' => '20231119104701_AP23323405001701.jpg', 'article_date' => '2023-11-19 22:46:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19509', 'article_category_id' => '1', 'title' => 'Citizens Bank International Gives Rs 2.5 Million to Tremor Victims', 'sub_title' => '', 'summary' => 'Citizens Bank International Limited has provided Rs 2.5 million to Prime Minister disaster relief and rescue fund to support the earthquake affected locals in Jajarkot and Rukum west.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">November 19: Citizens Bank International Limited has provided Rs 2.5 million to Prime Minister disaster relief and rescue fund to support the earthquake affected locals in Jajarkot and Rukum west.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The bank made the financial contribution to the earthquake victims in Jajarkot and Rukum West under its Corporate Social Responsibility(CSR). </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The bank has been delivering banking services through 188 branches, 97 branchless banking units and 148 ATM booths from across the country.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '19237', 'image' => '20231119040903_collage.jpg', 'article_date' => '2023-11-19 16:08:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19508', 'article_category_id' => '1', 'title' => 'Nepal SBI Bank Provides Rs 2 Million to Quake Victims', 'sub_title' => '', 'summary' => 'Nepal SBI Bank Ltd. (NSBL) has contributed Rs 2 million to the Prime Minister Disaster Relief Fund set up for the victims of earthquake in Jajarkot and Rukum West.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">November 19: Nepal SBI Bank Ltd. (NSBL) has contributed Rs 2 million to the Prime Minister Disaster Relief Fund set up for the victims of earthquake in Jajarkot and Rukum West.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">A cheque for Rs 2 million was handed over by the bank’s Chief Executive Officer Dipak Kumar De to Press Advisor to Prime Minister, Mr. Govinda Acharya at Prime Ministers’ Office, Singha Durbar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">Earlier, the bank had also distributed food items to the earthquake-affected people of Jajarkot and Rukum West District.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The Bank has been providing its banking services through 96 branches, 22 extension counters, 7 province offices and one corporate office along with 121 ATMs.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '19236', 'image' => '20231119033535_collage (3).jpg', 'article_date' => '2023-11-19 15:33:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $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:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Sunday held discussions with representatives from various line ministries, the National Planning Commission, Nepal Rastra Bank among others to take stock about the current state of the country’s economy and the ways to address the national economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the office-bearers of the ruling Nepali Congress also deliberated on the economic situation of the country. Minister for Finance Dr Prakash Sharan Mahat briefed the meeting about the economic state of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The participants of the meeting viewed that the government should take a step immediately to revitalize the national economy. They opined that attention should be paid to post-quake relief and reconstruction operation for the earthquake survivors in Jajarkot and Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The internal indices of the economy are still in crisis although there are signs of general improvement in the external indices lately. Problems plaguing the national economy at present are lax implementation of government's annual polices, programmes and budget and low capital expenditure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reduction in credit flow and high interest rate, reduction in the consumers' demand, declining morale of the private sector and failure in increasing domestic productivity among others have also led to flagging economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector has been continuously exerting pressure on the government saying it has been too late to take initiatives to resolve the problems of the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organisation of the private sector, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), hosted a 'National Economic Talks' on October 12, to find out solutions to the existing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the proposal of the private sector in course of discussion, Prime Minister Dahal had said a high-level mechanism could be formed to reform the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government and private sector are univocal that all sides and sectors should move ahead through collective efforts with responsibility in order to resolve the problems seen in economy. The private sector has been demanding since a long time that it is necessary to immediately form an Economic Reforms Commission or any high-level mechanism with legal authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the government through its policy and programme and budget of the current fiscal year had initiated some measures for policy and procedural reforms, the implementation side is weak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to host an international investment summit in third week of April 2024. A proposal to organise the investment summit has reached the cabinet. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">What is the condition of economy?</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first quarter of the current fiscal year, the government's expenditure has been just 20 per cent of the annual target. According to the Office of the Financial Comptroller General, the government's spending is over Rs 355.63 billion till the second week of November. Categorically, the government spending is 23.75 per cent under the current expenditure, 9.93 per cent under the capital expenditure and 17.72 per cent under the fiscal management as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the status of revenue collection also paints a dismal picture. In the first quarter, revenue collection stood at 20.08 per cent of the annual target. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has set a target to collect Rs 1422.54 billion in revenue in the current fiscal year but the collection is only Rs 276.64 billion as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the inflation in the country is 7.5 per cent in the first quarter of the current fiscal year against the government’s target to maintain it within 6.5 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the bank and financial institutions are also struggling to expand credit flow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the external sector of the economy has gradually improved with the robust growth in remittance inflow, which recorded 30 per cent growth till November 17. During the first three months of the current fiscal year, Nepal received Rs 365.34 billion in remittances, which is 30 per cent more than the corresponding period of the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the balance of payment is in a surplus of Rs 99.7 billion. In the first quarter, the import has increased by 1.7 per cent while the export has reduced by 2.3 per cent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19251', 'image' => '20231121104356_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-11-21 10:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19521', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1.41 Billion for Earthquake Victims' Temporary Residences', 'sub_title' => '', 'summary' => 'The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The National Disaster Risk Reduction and Management Authority (NDRRMA) announced the release of the first tranche of funds, which will benefit Jajarkot, Rukum Paschim, Bajhang, Bajura, and Salyan districts in accordance with government decisions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the total amount, Jajarkot and Rukum Paschim districts are set to receive Rs 500 million each, said NDRRMA spokesperson Dhruba Bahadur Khadka. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Rs 250 million has been earmarked for Bajhang, Rs 140 million for Bajura, and Rs 20 million for Salyan district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund allocation aligns with the Temporary Residence Construction Guidelines 2080 BS, approved during the Disaster Risk Reduction and Management Executive Committee meeting on November 12.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Khadka emphasized that the first tranche of the fund adheres to these guidelines, ensuring legal facilitation for supporting those affected by the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The selection of beneficiaries will be carried out by the respective local authorities, with funds disbursed according to established laws. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stringent auditing procedures will be implemented to ensure transparent and accountable management of the allocated funds. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19250', 'image' => '20231121055053_collage (17).jpg', 'article_date' => '2023-11-21 05:48:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '19522', 'article_category_id' => '1', 'title' => 'Government to Seek Suggestions from Private Sector', 'sub_title' => '', 'summary' => 'The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discussions with the private sector are scheduled to take place at the Prime Minister's Office in Singh Durbar on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the Prime Minister Pushpa Kamal Dahal 'Prachanda' had held meetings with key ministries, including Finance, the National Planning Commission, and Nepal Rastra Bank, to gain insights into the present economic conditions and chart a course for the future.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We are seeking suggestions from the private sector regarding the current challenges and problems, as well as insights into the future course of action," said Finance Minister Dr. Mahat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During meeting at the PMO, the Finance Minister provided the Prime Minister with a comprehensive overview of the country's economic landscape, while the Governor of Rastra Bank and a representative from the National Planning Commission also shared their perspectives. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19249', 'image' => '20231121060647_collage (18).jpg', 'article_date' => '2023-11-21 06:05:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19519', 'article_category_id' => '1', 'title' => 'NEA Expands Transmission Lines by 3100 Circuit Kilometers in Nine Years', 'sub_title' => '', 'summary' => 'November 20: The Nepal Electricity Authority (NEA) has added 3,118 circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.', '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"">November 20: The Nepal Electricity Authority (NEA) has added </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transmission and distribution lines and substations are required to deliver the electricity produced from the power plants to the customers' homes. For this purpose, the NEA is constructing transmission lines and substations through the Directorate of Transmission and Project Management.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago i.e. in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the capacity of substations was only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA, but in the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> it reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</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"">867</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA.</span></span></span></span></p> <p><span style="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 year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, electricity was being transmitted only from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines but now it is done through </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</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"">132</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"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV lines. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, there were </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">624</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines. By FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">742</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines with the addition of </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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of new lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV transmission lines in the system is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">514</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,979</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively.</span></span></span></span></p> <p><span style="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 length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines is </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"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">148</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively. Last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">413</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">circuit kilometers of transmission lines were added to the 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"">Kulman Ghising, the executive director of the NEA, has admitted that there are problems in the construction of transmission line projects, mainly due to the obstacles created by the locals. In addition to this, there are also problems in land acquisition and use of forest area and tree cutting, and the NEA is working to solve these problems, added Ghising.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On one hand, it takes a long time for the approval of the use of forest area land and tree felling, and on the other hand, a large amount of money has to be paid as compensation to another agency of the government. This not only prolongs the duration of the project, but also increases the price of our produced electricity," said Executive Director Ghising. </span></span></span></span></p> <p><span style="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 an urgent need to declare the next </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years as the country's development decade and comprehensively amend or replace the existing laws and regulations, to facilitate the land use of the forest area, said Ghising, adding that the programs announced in the current fiscal year's budget should be implemented 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"">In order to meet the demand for electricity till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Ghising said that the major cities of the country including Kathmandu have been divided into </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clusters for which the NEA has prepared the transmission and substation structure master plan.</span></span></span></span></p> <p><span style="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 NEA, currently </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,852</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines of various capacities are under construction. A maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,111</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">988</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">754</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction respectively.</span></span></span></span></p> <p><span style="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, </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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">469 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations of various capacities are under construction while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">564 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations are proposed for construction.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19248', 'image' => '20231120013615_20230716115331_eee.jpg', 'article_date' => '2023-11-20 13:35:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19520', 'article_category_id' => '1', 'title' => 'NEPSE Posts Minimal Gain to Close at 1853.48', 'sub_title' => '', 'summary' => 'On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 20: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market's lack of upward momentum is attributed to a prolonged festive period, causing reduced trading activity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prevailing negative investor psychology has influenced the market, preventing it from catching the upward momentum. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a significant number of investors adopting a "wait and watch approach, is also hampering overall market momentum.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, 3,319,558 shares were traded through 44,727 transactions, totaling Rs 1.9 billion, involving 284 scrips. Himalayan Distillery Limited (HDL) led with a turnover exceeding Rs 7 crores, closing at Rs 1737 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) and Karnali Development Bank Limited (KRBL) gained the highest at 9.98% and 9.96%, respectively. Conversely, Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) and Sayapatri Hydropower Limited (SPHL) each lost 10%, hitting the negative circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In sector indices, all sectors closed positively, except Hotels And Tourism, Manufacturing And Processing, Microfinance, and Others. Manufacturing and Processing saw the highest loss at 1.91%, while Trading Index gained the most at 1.42%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index experienced losses of 0.14% and 0.25%, respectively, while Float Index gained 0.08% for the day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19247', 'image' => '20231120042517_collage (1).jpg', 'article_date' => '2023-11-20 16:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '19518', 'article_category_id' => '1', 'title' => 'Light Snowfall Likely in High Hills and Mountainous Regions ', 'sub_title' => '', 'summary' => 'November 20: The Westerly wind is having its partial impact in the country at present. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Westerly wind is having its partial impact in the country at present. The weather will be partly cloudy in the hill region of the country and generally fair in the rest of the regions, the Meteorological Forecasting Division said Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Saroj Pudasaini said that the weather will be partly cloudy in the hill region of the country, including in Gandaki Province, in the afternoon today (Monday) while it will remain generally fair in the rest of the regions. According to him, there is a possibility of light snowfall at one or two places in the high hills and mountainous region of Koshi, Bagmati and Gandaki provinces today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The air temperature in Kahmandu is 17 degrees Celsius and visibility is more than six kilometres at present, the division stated. Meteorologist Pudasaini said the weather will be partly cloudy and the maximum temperature will be between 22 to 24 degrees Celsius in Kathmandu today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly cloudy in the hill areas of Koshi, Bagmati and Gandaki provinces and generally fair in the rest of the country tonight. There are chances of light snowfall at one or two places of the high hills and mountainous areas of Koshi, Bagmati and Gandaki provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19246', 'image' => '20231120013629_20190208014800_aaaa.jpg', 'article_date' => '2023-11-20 13:33:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19516', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Busy in Soliciting Foreign Aid due to Slump in Revenue Collection', 'sub_title' => '', 'summary' => 'November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.', '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"">November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has stepped up his efforts to solicit support from large donor agencies. Due to his active efforts, the government has signed agreements for foreign aid worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last four months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Between mid-July to mid- October, the government has reached separate agreements with the main donor agencies including the World Bank, the Asian Development Bank, the European Union and the Japanese government to receive foreign aid. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion agreement, the government will receive more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 billion as subsidy.</span></span></span></span></p> <p><span style="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 also signed a grant agreement worth Rs </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"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion with the European Union.</span></span></span></span></p> <p><span style="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 grant agreement is to be spent in the fields of education and climate change adaptation. The European Union has signed an agreement with the Government of Nepal to provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the education program for all and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the local climate change adaptation program. </span></span></span></span></p> <p><span style="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 education program for all has the backing of eight donor agencies including the European Union. This program is being run to produce skilled manpower.</span></span></span></span></p> <p><span style="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 Japanese government has signed an agreement to provide a subsidy equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.96</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion to Nepal. The Japanese government will provide the grant for upgrading of the emergency trauma center at Dhulikhel Hospital. Japan's grant will be used to build infrastructure for immediate treatment of victims of emergency accidents.</span></span></span></span></p> <p><span style="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 World Bank has also signed an agreement to provide a grant of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to the Government of Nepal. Along with the grant, the government has entered into a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the World Bank during this period. As per the agreement, the loan will be spent in the health sector of Nepal.</span></span></span></span></p> <p><span style="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 of Nepal is increasing investment in infrastructure and production of skilled manpower to expand health facilities to the local level. The government signed the agreement with the World Bank under the same campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government has also signed a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the Asian Development Bank for the rural road infrastructure improvement project. </span></span></span></span></p> <p><span style="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 officials of the Ministry of Finance, the government has prioritized foreign aid as the revenue, the main source of government’s income, has not been raised as expected. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Support from donor agencies is increasing, this will help the government's financial system which is under pressure," a senior official of the International Financial Aid Coordination Division under the Ministry of Finance told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If we look at the status of revenue collection, the government has collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">276</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"">64</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion till mid-October of the current fiscal year. This is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target. Tax revenue collected during this period is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">254</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"">30</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and the non-tax revenue is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</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 the officials of the finance ministry, the government has been facing problems to meet the revenue collection target from the beginning 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"">Finance Minister Mahat announced a 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""> billion for the current fiscal year. So far </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 budget has been spent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Mahat said that the government will raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1248</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"">62</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from revenue and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</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 from foreign grants.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government plans to raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">212</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"">75 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign loans and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">240 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from internal loans. </span></span></span></span></p> <p><span style="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 first four months of the current fiscal year, the government has already taken internal loans 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"">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"">As the main source of revenue is shrinking, the government has been criticized for meeting its financial liabilities by taking internal debt. Government officials have been rejecting this accusation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Keshav Acharya says that the government’s finances are deteriorating due to the lack of responsibility and accountability among top political leadership and high-level employees. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19245', 'image' => '20231120012342_finance_ministry_copy1.jpg', 'article_date' => '2023-11-20 13:23:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19517', 'article_category_id' => '1', 'title' => 'Aftershock Jolts Bajhang ', 'sub_title' => '', 'summary' => 'November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist at the Centre, Dr Lokbijaya Adhikari said another aftershock jolted Bajhang following the tremor at Dhamena. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"An aftershock measuring 4.5 on the Richter scale took place with its epicentre at Dhamena. Information has been received that the aftershock was felt in surrounding districts of Bajhang as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An earthquake measuring 6.3 on the Richter scale with epicentre in Bajhang had jolted the district on October 3. Many aftershocks have occurred following this quake, according to the Centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19244', 'image' => '20231120013040_earth.jpg', 'article_date' => '2023-11-20 13:29:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19515', 'article_category_id' => '1', 'title' => 'Interest on Loans Starts Declining', 'sub_title' => '', 'summary' => 'November 20: Banks and financial institutions (BFIs) have reduced the interest rates on deposits. As a result, the interests on bank loans have also started declining. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 20: Banks and financial institutions (BFIs) have reduced the interest rates on deposits. As a result, the interests on bank loans have also started declining. The reduction in interest rates on deposits has lowered the base rate and operating cost of banks and therefore the interest on loans have also been revised.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data of Nepal Rastra Bank (NRB), the average interest rate on loans of commercial banks has dropped to 12.11 percent in mid-September to mid-October of the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The average interest on loans in mid-July to mid-August was 12.24 percent. The average base rate of commercial banks, which was 10.11 percent in mid-August, fell to 9.94 percent in mid-October. After the base rate has decreased, the interest on loans also decreased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the interest rates of development banks have increased in mid-September to mid-October compared to the one month period of mid-July to mid-August. In mid-August, the average interest rate on loans of development banks was 13.88 percent, which increased to 13.91 percent in mid-October. However, the interest rates of development banks in mid-September to mid-October is less compared to that of mid-August to mid-September.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the average interest rate on loans of finance companies has also decreased. The average interest rate on loans of finance companies was 14.66 percent in mid-July to mid-August, which dropped to 14.61 percent in mid-September to mid-October. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the banks had increased the interest rates on deposits due to the lack of liquidity which increased the operating cost of banks. It resulted in high interest on bank loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In recent times, bank deposits have been increasing due to the increase in remittance inflows and an increase in economic activities. As the banks started reducing the interest rate on deposits, the interest on loans also started to decline. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Bankers Association Sunil KC says that the base rate has been lowered and the banks have also reduced the premium, so the interest on loans is decreasing. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Currently, there is not much demand for loans compared to the increase in deposits," he said, adding, "As banks have also reduced the premium to increase investment, interest on loans is declining."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the instructions of the Nepal Rastra Bank regarding interest rate determination, banks are allowed to increase or decrease the interest rates by 10 percent every month. Similarly, there is a provision that banks should publish the interest rate applicable for every month a day before the start of the new month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks are required to pay 1 percentage point more for deposits through remittance and 2 percentage points less for institutional depositors than for individual deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-November of the current fiscal year, deposits in banks and financial institutions have increased by 2.8 percent and credit flow by 2.3 percent. During the same period of the last fiscal year, deposits increased by 0.4 percent and lending increased by 1.3 percent. However, compared to the previous months, the demand for loans has started to increase, according to the report of the central bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, the interest rates on deposits and loans have started to decrease along with the base rate of banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the deposit collection is higher than credit flow, the credit-deposit ratio (CD ratio) of banks has also decreased. On November 7, the average CD ratio of banks remained at 81.31 percent. According to the central bank, banks can extend credit flow by maintaining a CD ratio of up to 90 percent. So, the banks have the capacity to provide additional loans of about Rs 514 billion.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19243', 'image' => '20231120122549_Banks - Copy.jpg', 'article_date' => '2023-11-20 12:24:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19514', 'article_category_id' => '1', 'title' => 'FNCCI Seeks Suggestions from its Members for National Economic Discourse ', 'sub_title' => '', 'summary' => 'November 20: The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has solicited suggestions from its members in a bid to help address the existing economic crisis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has solicited suggestions from its members in a bid to help address the existing economic crisis. The umbrella organization of the of Nepalese private sector demanded suggestions as a part of its national economic discourse. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting presided over by FNCCI President Chandra Prasad Dhakal on October 12 had presented a proposal to the government seeking formation of a high-level mechanism to which Prime Minister Pushpa Kamal Dahal had responded affirmatively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI is gearing up for the next leg of discourse soon. A circular has been issued to its members in all districts asking them to furnish suggestions to the government on the next course of action to address the ongoing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI then will compile and present a host of recommendations to the government for it to put in place private sector-friendly economic policies as well as to come up with resolutions to address the economic crisis. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19242', 'image' => '20231120112653_fncci-building_sHPipJwM5k.jpg', 'article_date' => '2023-11-20 11:23:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19513', 'article_category_id' => '1', 'title' => 'Chhath Festival Concludes by Offering Worship to the Rising Sun ', 'sub_title' => '', 'summary' => 'November 20: The Chhath festival has concluded after offering worships to the rising Sun in entire Mithila region, including Mahottari this morning (Monday). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Chhath festival has concluded after offering worships to the rising Sun in entire Mithila region, including Mahottari this morning (Monday). </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Devotees offered curd to the rising Sun on Monday, the fourth day of the festival, from the banks of rivers and ponds especially in the Mithila region as well as other places across the country to mark the end of the festivities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This festival is mainly observed in the Mithila region including Mahottari, Dhanusha, Siraha, Saptari, Sunsari, Morang, Sarlahi, Rautahat, Bara and Parsa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The main feature of this festival is to increase human beings’ interest in truth and non-violence and encourage them to remain sympathetic to all living creatures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The rising and setting suns are worshipped with devotion during the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chhath is a festival of goodwill, faith, and social harmony as people from all backgrounds come together in a common place to offer worship to the Sun God. It is widely believed that appeasing the Sun God brings happiness, prosperity, well-being, and longevity to family members. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19241', 'image' => '20231120105136_20231119102851_20211107101945_1260843_n - Copy.jpg', 'article_date' => '2023-11-20 10:50:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19512', 'article_category_id' => '1', 'title' => '23 Local Governments Fail to Submit Budget Details on Time', 'sub_title' => '', 'summary' => 'November 20: Twenty-three local governments have not yet submitted the details of the budget they presented for the current fiscal to the Ministry of Federal Affairs and General Administration. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">November 20: Twenty-three local governments have not yet submitted the details of the budget they presented for the current fiscal to the Ministry of Federal Affairs and General Administration. The local-levels are required to update the details of the annual budget in the central portal after it is endorsed by rural and municipal assemblies. The Local Government Operation Act, 2074 BS mandates the local governments to endorse the budget by mid-July. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Though four months have already passed since the beginning of the current fiscal year (FY 2023-24), a total of 23 local governments including 21 in the Madhesh Province have not updated the details in the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, it has already asked those local-levels many times for the submission of the details, but they are still awaiting the update. It is said budgets brought for some local levels have not been endorsed by the rural and municipal assemblies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chitwan's Rapti municipality’s chief administrative officer Nilam Kumar Neupane said the budget for the local government had been already passed but the entry in the federal system is waited while Tehrathum's Aathrai rural municipality’s administrative officer Niraj Sharma said the budget details have yet to be updated in the ministry's website. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Other municipalities that are yet to submit the budget details to the federal ministry include Kanchanrup municipality, Chhinnamasta rural municipality, Mahadeva rural municipality and Rupani Municipality in Saptari, Aurahi rural municipality and Bhagawanpur rural municipality in Siraha, Aurahi rural municipality and Kamala municipality in Dhanusha, Balara municipality, Haripurwa municipality and Chandranagar rural municipality in Sarlahi, Garuda municipality, Katahariya municipality, Gadhimai municipality, Phatuwa Bijaypur municipality, Madhabnarayan municipality, Maulapur municipality and Yamunamai rural municipality in Rautahat, Simraungadh municipality and Adarsha Kotwal rural municipality in Bara and Sakhuwa Prasauni rural municipality in Parsa. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19240', 'image' => '20231120101241_20231020014803_20230714023452_1683767264.jpg', 'article_date' => '2023-11-20 10:11:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19510', 'article_category_id' => '1', 'title' => 'Australia Crushes India to win Sixth World Cup Title', 'sub_title' => '', 'summary' => 'November 19: Opener Travis Head hit a sparkling 137 to power Australia to a record-extending sixth World Cup title with a convincing six-wicket win over India in Ahmedabad on Sunday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 19: Opener Travis Head hit a sparkling 137 to power Australia to a record-extending sixth World Cup title with a convincing six-wicket win over India in Ahmedabad on Sunday.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chasing a tricky 241 for victory in the final, Australia slipped to 47-3 before the left-handed Head hit his second century of the tournament to steer the team home with seven overs to spare.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head's knock and his marathon stand of 192 with Marnus Labuschagne, unbeaten on 58, ended India's dominant run of 10 unbeaten matches at the event.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head fell after his 120-ball knock laced with 15 fours and four sixes before Glenn Maxwell hit the winning runs to trigger wild celebrations in the Aussie camp.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India's chances of ending a global trophy drought since their 2013 Champions Trophy win went up in smoke once Head got going with Labuschagne.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head's century was the seventh in a World Cup final and third by an Australian after Ricky Ponting (140 not out v India in 2003) and Adam Gilchrist (149 v Sri Lanka in 2007).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The bowlers set up victory for an Australian side that bounced back after two losses to win nine in a row as Mitchell Starc (3-55) and Pat Cummins (2-34) helped bowl out India for 240.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">India hit back when Mohammed Shami shared the new ball with Jasprit Bumrah and struck on his second delivery to get David Warner caught behind for seven.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But it was Bumrah's double strike in quick succession that raised the roof as he had Mitchell Marsh caught behind for 15 and Steve Smith lbw for four.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head stood firm with Labuschagne for company to thwart the Indian attack despite captain Rohit Sharma rotating his bowlers in a hunt for a breakthrough.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head, who suffered a fractured hand in South Africa in September, was in danger of missing the World Cup but Australia kept him in the squad until he was fit to play.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He hit a match-winning century against New Zealand in the team's sixth league game and after a few low scores hit an attacking 62 in his team's nervy three-wicket semi-final win over South Africa in Kolkata.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He turned India's nemesis a second time this year after his 163 proved decisive in Australia's World Test Championship triumph at the Oval in June.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head reached his 100 in 95 balls and raised his bat to an applauding Australian dressing room.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Australia elected to field first and the players backed up Cummins' decision with disciplined bowling and impressive fielding.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Virat Kohli and KL Rahul hit 54 and 66 respectively after Rohit's attacking 47 but the ball dominated the bat on a slow, dry pitch.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Head took a stunning catch while running back from cover point to cut short Rohit's innings off spinner Maxwell.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Cummins bowled Kohli, who ended as the leading batsman in tournament with 765 runs, to silence the crowd of 92,453 fans, who like the home team in the middle had an unforgettable day. – AFP/AP/RSS</span></span></p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => 'Australia, India, World, Cup, title, Head, hundred, cricket', 'description' => '', 'sortorder' => '19238', 'image' => '20231119104701_AP23323405001701.jpg', 'article_date' => '2023-11-19 22:46:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19509', 'article_category_id' => '1', 'title' => 'Citizens Bank International Gives Rs 2.5 Million to Tremor Victims', 'sub_title' => '', 'summary' => 'Citizens Bank International Limited has provided Rs 2.5 million to Prime Minister disaster relief and rescue fund to support the earthquake affected locals in Jajarkot and Rukum west.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">November 19: Citizens Bank International Limited has provided Rs 2.5 million to Prime Minister disaster relief and rescue fund to support the earthquake affected locals in Jajarkot and Rukum west.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The bank made the financial contribution to the earthquake victims in Jajarkot and Rukum West under its Corporate Social Responsibility(CSR). </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">The bank has been delivering banking services through 188 branches, 97 branchless banking units and 148 ATM booths from across the country.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '19237', 'image' => '20231119040903_collage.jpg', 'article_date' => '2023-11-19 16:08:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19508', 'article_category_id' => '1', 'title' => 'Nepal SBI Bank Provides Rs 2 Million to Quake Victims', 'sub_title' => '', 'summary' => 'Nepal SBI Bank Ltd. (NSBL) has contributed Rs 2 million to the Prime Minister Disaster Relief Fund set up for the victims of earthquake in Jajarkot and Rukum West.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">November 19: Nepal SBI Bank Ltd. (NSBL) has contributed Rs 2 million to the Prime Minister Disaster Relief Fund set up for the victims of earthquake in Jajarkot and Rukum West.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">A cheque for Rs 2 million was handed over by the bank’s Chief Executive Officer Dipak Kumar De to Press Advisor to Prime Minister, Mr. Govinda Acharya at Prime Ministers’ Office, Singha Durbar.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">Earlier, the bank had also distributed food items to the earthquake-affected people of Jajarkot and Rukum West District.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The Bank has been providing its banking services through 96 branches, 22 extension counters, 7 province offices and one corporate office along with 121 ATMs.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-19', 'modified' => '2023-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '19236', 'image' => '20231119033535_collage (3).jpg', 'article_date' => '2023-11-19 15:33:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $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
