October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and…
October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and…
The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the…
October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this…
October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in…
October 7: Karate player Arika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou,…
October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate…
October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its…
Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain…
October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of…
October 6: Government authorities of Nepal and the International Monetary Fund (IMF) team have reached a staff-level agreement for the disbursement of about $51.3 million under the Extended Credit Facility (ECF) arrangement.…
October 6: Nepal has finally succeeded in winning a medal in the ongoing 19th Asian Games in Hangzhou, China.…
October 6: Two more earthquakes were felt last night (Thursday) with epicenters at Chainpur of Bajhang district in Sudurpaschim…
October 5: The Government of Nepal and the Government of Japan on Tursday signed agreement for utilizing the grant assistance of JPY 3,296 million (approximately NPR 2.95 billion) for the implementation of the ‘Project for the Improvement of Dhulikhel Hospital’s Trauma and Emergency…
October 6: A US citizen has died after falling off cliff while visiting Manang, a mountainous district.…
The Nepal Rastra Bank (NRB) has made changes to its Integrated Guidelines for the year 2080 BS. One of the remarkable changes is the removal of the previous upper cap on margin lending, which was set at Rs 120 million. Under the new guidelines, the NRB has increased the limit for margin…
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The initiative is also aimed at curbing exorbitant price hikes of goods and providing the essentials to the people in a convenient manner, the ministry added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The fair-price shops are run by the government bodies during the time of festivals to give relief to the public because the private sector has been found charging exorbitant prices especially during the festive season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The government has prepared to set up fair-price shops at 35 different locations in the Kathmandu Valley. The government will be operating mobile shops as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, other districts to have the fair-price outlets are Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Lalitpur, Bhaktapur, Kaski, Tanahu, Gorkha, Manang, Mustang, Rupandehi, Banke, Bardiya, Rukum East and Rukum West.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Kanchanpur will also have fair-price outlets. The Food Management and Trading Company will open fair-price shops at 48 places of 42 districts, according to MOICS Spokesperson Sharmila Neupane.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The stalls will provide a discount of Rs 7 per kg of all sorts of rice, pulses, flour, and wheat, while the consumers will get Rs 10 off per kg of meat.</span></span> -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18927', 'image' => '20231008091445_20231007100031_20220919031638_20201123043159_92926.jpg', 'article_date' => '2023-10-08 09:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19198', 'article_category_id' => '1', 'title' => 'Revenue Collection From Birgunj Customs Office Down', 'sub_title' => '', 'summary' => 'The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the month of Shrawan, the Department of Customs had set a revenue collection target of Rs 15.62 billion, but the customs office collected Rs 3.75 billion less than the target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Information Officer of the office, Ramchandra Dhakal, the department had set a revenue collection target of Rs 19.38 billion for Bhadra, but it was able to collect only Rs 12.71 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that the revenue collection is primarily from the import of 20 items, including petroleum products and vehicles, and the revenue from these sources has been declining. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that revenue collection from the import of the top 20 items witnessed 53% decrease in the first month of current fiscal year compared to the same period last year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, there was a 62% decline in the revenue collection from the import of the top 20 items in the second month in the current fiscal year compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Dhakal said that Birgunj Customs Office collects more than 40% of its revenue from the import of fuel and vehicles and revealed that the revenue collection from both of these sources has decreased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Revenue collection from fuel import via the Birgun Customs Office has decreased by 11% and from the vehicle imports by 10% compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18926', 'image' => '20231008064331_collage (1).jpg', 'article_date' => '2023-10-08 06:38:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '19197', 'article_category_id' => '1', 'title' => 'Advance Booking of Bus Tickets for Dashain from Monday ', 'sub_title' => '', 'summary' => 'October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government took a decision to this effect following a meeting of all stakeholders including the Ministry of Physical Infrastructure and Transport and the transport entrepreneurs, informed Uddhav Prasad Rijal, director general of the Department of Transport Management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the transport entrepreneurs took the stance to not open the advance bookings unless the transport fare was increased, they later agreed to do so at the existing fare. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18924', 'image' => '20231007100517_ngers of dashain_koteshwor area (2).jpg', 'article_date' => '2023-10-07 22:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19195', 'article_category_id' => '1', 'title' => 'Bajhang Records 15 Tremors in Four Days ', 'sub_title' => '', 'summary' => 'October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. </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"">With the latest jolts, the district has experienced 15 tremors in the last four days. Last Tuesday, an earthquake measuring 6.3 in the Richter scale had jolted the district, according to the Earthquake Monitoring and Researcher Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist Bijay Prasad Koirala informed that the western belt of Nepal had stored huge force causing vulnerability to earthquake. The earthquakes recorded on Saturday are the aftershocks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There has been no major earthquake in the western belt of Nepal since 1505. So, it has stored tremendous force within. The release of the power created with the strike of two plates results in earthquake," he said, adding that such aftershocks would be felt for some more days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further warned of huge earthquake at any time in the future. However, the minor tremors could lessen such chances. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18923', 'image' => '20231007091336_20230329121710_earth.jpg', 'article_date' => '2023-10-07 21:13:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19194', 'article_category_id' => '1', 'title' => 'Karate Player Gurung Secures Silver Medal for Nepal', 'sub_title' => '', 'summary' => 'October 7: Karate player Arika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 7: Karate player Erika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“A historic SILVER MEDAL in Karate at the 19th Asian Games! This achievement marks a new chapter in the legacy of our karate athletes,” the National Sports Council, the apex sports governing body of Nepal, wrote on its Facebook page.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This is the first time that Nepal secured silver medal in individual event in the Asian games in the last 25 years, when Sabita Rajbhandari had bagged the honours in taekwondo for Nepal in 1998. Although Nepal had secured silver medal recently in the Asiad held in Indonesia, it was in group event of paragliding. Besides these three silver medals, Nepal has never secured better results in the Asian Games, which is the biggest sporting event after the Olympics.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Karate player Gurung defeated Yan Kai Ho of Hong Kong in women’s 68-kg category with a score of 8-4 in the semi-finals held earlier on Saturday before being ousted by Sofia Berultseva of Kazakhstan 3-0 to settle for the silver medal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Earlier, in the quarterfinal, Gurung defeated Yujuki Saway of Japan on the basis of golden score. Both of them had secured equal 1-1 point in the match.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, Nepal has won only two medals in the ongoing Asian Games. Earlier on Friday, the women's kabaddi team of Nepal had won a bronze medal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18922', 'image' => '20231007065908_386460379_334193095793622_526801378955242376_n.jpg', 'article_date' => '2023-10-07 18:58:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19193', 'article_category_id' => '1', 'title' => 'Drought caused 'Historic' Global Hydropower Drop in Early 2023 ', 'sub_title' => '', 'summary' => 'October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The research by renewable energy think tank Ember argues the drop is a "warning shot that hydro output could negatively affect the speed of the electricity transition". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The group said global hydropower generation fell 8.5 percent in the year to June, more than any full-year decline over the last two decades. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three-quarters of that decline was the result of falls in China, which baked through record temperatures earlier this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Between winter 2022 and spring 2023, most areas of southwest China experienced significantly less precipitation and higher temperatures than in a normal year, according to Beijing's ministry of emergency management. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The fall in hydropower output meant global carbon emissions rose very slightly in the first half of 2023, despite a 12-percent increase in solar and wind power worldwide. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lower growth in electricity demand helped keep the rise in emissions smaller than it might otherwise have been, Ember said in the report released Thursday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China, however, saw its emissions rise nearly eight percent as it compensated for the loss of hydropower. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But while the extreme heat and drought conditions that caused this year's decline may have been driven by climate change, the think tank warned it remains hard to calculate future effects. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The consequences of "climate change on hydro potential are geographically varied", the group noted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Changes in rainfall patterns and intensity as well as increased evaporation will affect hydro output both positively and negatively depending on the region." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some parts of central Africa, India, central Asia and northern high latitudes could see their potential to generate hydropower increase. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But in southern Europe, the southern United States and elsewhere, it is likely to weaken. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And the International Energy Agency last month projected fossil fuel demand will peak by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But wind and solar generation grew more slowly in the first half of this year than in the same period last year, reflecting the fragility of gains in the sector. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"While it is encouraging to see the remarkable growth of wind and solar energy, we can't ignore the stark reality of adverse hydro conditions intensified by climate change," said Malgorzata Wiatros-Motyka, Ember's senior electricity analyst. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The world is teetering at the peak of power sector emissions, and we now need to unleash the momentum for a rapid decline in fossil fuels by securing a global agreement to triple renewable capacity this decade." – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18921', 'image' => '20231006065639_20150823012330_ep1.jpg', 'article_date' => '2023-10-06 18:56:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19191', 'article_category_id' => '1', 'title' => 'Nine Committees Suggest Reforms of NAC, None Implemented so Far', 'sub_title' => '', 'summary' => 'October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind.', '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"">October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind. </span></span></span></span></p> <p><span style="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 Ministry of Culture, Tourism and Civil Aviation has already received the report of seven such committees, sub-committees, task forces and one report from the International Civil Aviation Organization (ICAO) for the reforms of the flag carrier 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"">However, all those suggestions are gathering dust in the drawers of the ministry. There has been no improvement in the structural and managerial condition of the corporation. The government’s negligence has made it challenging for NAC to survive in the competitive market of airline industry. Passengers are in a dilemma whether to take the service of state-owned Nepal Airlines Corporation or not due to problems with the engine and other glithes during NAC flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the latest example of the poor quality of NAC’s service, a plane flying from Kathmandu to Dammam in Saudi Arabia encountered a problem at 12:14 AM on Wednesday night, and had to be diverted to Kathmandu from Pakistani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Amid recurring problems occurring during flights and maintenance of the aircraft not being carried out on time, none of the suggestions received for improvement of the NCA have been implemented so far. The number of flights and destinations of the Nepal Airlines, which is operating both domestic and international flights, has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee formed under the chairmanship of former governor Chhetri submitted a report with suggestions to the Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, on Sunday.</span></span></span></span></p> <p><span style="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 report, the NAC, which flew to 39 domestic destinations in the year 2050, currently flies to a total of 19 destinations. International destinations have also decreased. The corporation, which expanded its service to 13 international destinations in 2050, now flies only to 9 destinations. The NAC, which had 19 aircraft in the year 2050, currently has one twin-otter for domestic flights and four large aircraft operating internationally. The rest of the aircraft have been grounded.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During this period, the NAC’s competitiveness in the market has declined due to the entry of private airline companies and the addition of foreign airlines in international flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders say that the NAC has not been able to make progress due to non-implementation of the suggestions given to improve the state-owned airline company, which is losing market share in internal and external destinations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Committees, sub-committees and task forces formed several times have given various suggestions to transform the NAC into a profitable, reliable, and safe airline company. The practice of forming one after another committee or task force without implementing the suggestions shows that the ministry is not serious about the managerial and structural reforms of the NAC. Rather, there is a suspicion that such working groups, committees or sub-committees are formed only to provide employment to their people.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On August 7, 2019, the then Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had formed a similar committee. The coordinator and former secretary of the committee, Sushil Ghimire, says that there is no point forming new committees if the government is not interested in implementing the suggestions given by such committees.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The government’s failure to implement the suggestions so far is the lack of commitment to reform the NAC," Ghimire 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"">Former Secretary Shankar Prasad Adhikari says that there is a trend of making reports and not taking any decision once the repot is prepared. "This trend should be stopped and a decision should be taken at the political level," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The chairman of the latest committee, former governor Chettri, expressed confidence that the government will implement the suggestions made by the committee. "If the NAC is to be bailed out from the current situation, there is no alternative than to implementing the suggestion," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">When New Business Age inquired about the implementation status of the latest report with Bharatmani Subedi, secretary at the ministry, he refused to comment saying, "The report is on the website of the ministry, we will talk about the implementation later." The ministry had published the report on its official website on Wednesday.</span></span></span></span></p> <p><span style="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 report has suggested that the corporation should be converted into a company. Since the report prepared by former Chief Secretary Damodar Gautam on January 2, 2002, it has been suggested to convert the NAC into a company. The latest report also suggested that it should be privatized and converted into a public company, and strategic partners should be invited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Widebody aircraft operating in losses</span></span></strong></span></span></p> <p><span style="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 report states that even after six years of operating the widebody-A330 aircraft purchased by the NAC, it has not been able to earn profit. The two widebody aircraft purchased by the NAC started flying from the financial year (2074/75). As the expenses are more than the income of those aircraft with 274 seat capacity, the NAC is consistently losing money while operating those two aircraft.</span></span></span></span></p> <p><span style="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 report, as of last April, NAC earned Rs 7.70 billion from these two aircraft while the expenditure stood at Rs 10.98 billion. Due to this, the corporation suffered a loss of Rs 3.28 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18920', 'image' => '20231006022011_naccccc.jpg', 'article_date' => '2023-10-06 14:19:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19192', 'article_category_id' => '1', 'title' => 'Dues of Previous Fiscal Year Will Be Cleared Before Dashain: Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While talking to mediapersons in Chitwan, Minister Mahat said the government has already disbursed approximately Rs 60-70 billion towards these outstanding dues, with around Rs 6-7 billion remaining to be paid. Minister Mahat assured that these remaining payments would be completed prior to Dashain.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While acknowledging that there are economic challenges, Minister Mahat emphasized that the severity of the crisis is not as pronounced as some people claim. He pointed out that part of the problem stems from the improper utilization of loans extended by the Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Minister Mahat, loans from banks were easily accessible and often invested without careful consideration of their potential returns, leading to the current economic repercussions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He also noted that the strict monetary policy has contributed to an increase in interest rates, causing some entrepreneurs to face difficulties.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In response to these challenges, the government is actively working to strengthen the foundation of the economy, added Minister Mahat.</span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18919', 'image' => '20231006040438_collage (14).jpg', 'article_date' => '2023-10-06 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19190', 'article_category_id' => '1', 'title' => 'Light Rainfall Likely Today in Eastern and Central Nepal', 'sub_title' => '', 'summary' => 'October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the weather in Koshi Province, Madhes Province, Bagmati Province and Gandaki Province has remained partly to generally cloudy while rainfall is taking place at one or two places in Koshi, Bagmati and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Koshi, Madhes, Bagmati and Gandaki provinces would remain partly to generally cloudy in the afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall has been forecast at few places of Koshi, Bagmati and Gandaki provinces while light rainfall along with lightning and thunder is forecast at one or two places of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, there is a possibility of light rainfall with thunder and lightning at few places of Koshi, Bagmati and Gandaki provinces tonight. </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"">The monsoon, which entered Nepal on June 14 this year, was expected to withdraw on October 2 but it has been delayed by a few more days. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18918', 'image' => '20231006012531_weatherrr - Copy.jpg', 'article_date' => '2023-10-06 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19188', 'article_category_id' => '1', 'title' => 'IMF reaches Staff-Level Agreement to Review Extended Credit Facility ', 'sub_title' => '', 'summary' => 'October 6: Government authorities of Nepal and the International Monetary Fund (IMF) team have reached a staff-level agreement for the disbursement of about $51.3 million under the Extended Credit Facility (ECF) arrangement. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Government authorities of Nepal and the International Monetary Fund (IMF) team have reached a staff-level agreement for the disbursement of about $51.3 million under the Extended Credit Facility (ECF) arrangement. The third review of the agreement is subject to approval by the IMF’s Executive Board, according to a press release issued by IMF on October 5. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s external position has strengthened, supported by prudent fiscal and monetary policies, buoyant remittances, and increasing tourism activity. Following a slowdown last year, growth is projected to recover to 3.5 percent in FY 2023/24, but to remain below potential, reflecting weak domestic demand, the IMF statement said adding inflation is declining but is still elevated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It further stated that necessary balance sheet repairs have been limiting credit growth in spite of monetary relaxation. Reforms under the ECF aim to generate more stable, pro-growth credit while maintaining price and external stability. Accelerating the planned increase in capital spending, as envisaged in the budget, will help boost demand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The IMF acknowledged that the government authorities of Nepal are diligently making progress to improve AML/CFT, including enacting amendments of AML laws to bring them in line with international standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The press statement was released upon the conclusion of IMF team visit led by Tidiane Kinda from September 21 to October 5. The team held discussions on the policies and reforms that could lead to the completion of the third review of the economic programme supported by the IMF’s ECF. At the end of the mission, Kinda issued statement asserting that Nepal continues to make progress with the implementation of the ECF-supported program. </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"">“On the fiscal front, important achievements by the Ministry of Finance include the formulation of a fiscal risk register, the publication of the non-custom tax exemptions, and the implementation of a cash flow forecasting framework, all reforms aimed at strengthening transparency of public finances and further enhancing fiscal management," the press stated quoted Kinda as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ECF is a scheme that provides financial assistance to countries with protracted balance of payments problems. It supports countries’ economic programs aimed at moving toward a stable and sustainable macroeconomic position consistent with strong and durable poverty reduction and growth. It is also expected to help catalyze additional foreign aid. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18917', 'image' => '20231006125525_20220426051733_imf.jpg', 'article_date' => '2023-10-06 12:54:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19187', 'article_category_id' => '1', 'title' => 'Nepal Secures First Medal in 19th Asian Games', 'sub_title' => '', 'summary' => 'October 6: Nepal has finally succeeded in winning a medal in the ongoing 19th Asian Games in Hangzhou, China. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Nepal has finally succeeded in winning a medal in the ongoing 19th Asian Games in Hangzhou, China. Nepal received a bronze medal in women’s kabaddi event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal secured a bronze medal in the event after being defeated by India 61-17 in the semifinal. </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"">Nepal had entered semifinal as a first runner up of Group 'B'. Similarly, India had entered seminal as the winner of Group 'A'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All four teams playing the seminal in kabaddi were assured of medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It was the first time Nepal participated in the Asian Games under women’s kabaddi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Group 'B' has Iran and Bangladesh as well. As a winner of Group 'B', Iran got entry to the semifinal and is playing against first runner up of Group 'A', Chinese Taipei. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The players in the Nepali team were Menuka Kumari Rajbanshi (captain), Manmati Bista, Jayanti Badu, Sunita Thapa, Rabina Chaudhari, Anuja Kulung Rai, Ganga Rai, Nitu Gurung, Isha Rai, Arpana Chaudhari, Sirjana Tharu and Kalawati Pant. Team instructor is Bishnu Datt Bhatta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18916', 'image' => '20231006120602_a.jpg', 'article_date' => '2023-10-06 12:05:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19186', 'article_category_id' => '1', 'title' => 'Two more Earthquakes Jolt Bajhang', 'sub_title' => '', 'summary' => 'October 6: Two more earthquakes were felt last night (Thursday) with epicenters at Chainpur of Bajhang district in Sudurpaschim Province. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Two more earthquakes were felt last night (Thursday) with epicenters at Chainpur of Bajhang district in Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Centre, Lainchaur informed that the earthquakes – one measuring 4.3 in the Richter scale and another measuring 3.9 in the Richter scale – were recorded at 10:52 pm and 12:23 am last night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The centre further informed that on Tuesday afternoon an earthquake measuring 5.3 in the Richter scale had occurred in Bajhang with its epicenter at Talkot. On the same day, a 6.3 Richter scale quake jolted the district at 3:06 pm. It was followed by 4.1 Richter scale tremor at 3:45 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A person died while a dozen others were injured in the earthquake. Similarly, hundreds of houses were damaged in the quake. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Geologist at the Centre, Dr Lok Bijay Adhikari, informed that the western belt of Nepal is vulnerable to earthquake anytime. "For 500 years, Nepal's western region has not seen any noticeable earthquake. So the tremors felt in recent times in this region is a wake-up call." -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18915', 'image' => '20231006112012_20230620111902_earth.jpg', 'article_date' => '2023-10-06 11:19:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19185', 'article_category_id' => '1', 'title' => 'Japan Extends Grant to Improve Dhulikhel Hospital Trauma and Emergency Centre ', 'sub_title' => '', 'summary' => 'October 5: The Government of Nepal and the Government of Japan on Tursday signed agreement for utilizing the grant assistance of JPY 3,296 million (approximately NPR 2.95 billion) for the implementation of the ‘Project for the Improvement of Dhulikhel Hospital’s Trauma and Emergency Center’. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Government of Nepal and the Government of Japan on Tursday signed agreement for utilizing the grant assistance of JPY 3,296 million (approximately NPR 2.95 billion) for the implementation of the ‘Project for the Improvement of Dhulikhel Hospital’s Trauma and Emergency Center’. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Dr Krishna Hari Pushkar and Japanese Ambassador to Nepal Kikuta Yutaka exchanged the notes on behalf of their respective governments, reads a press release issued by the Ministry of Finance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the grant agreement was signed by Shreekrishna Nepal, joint secretary at the International Economic Cooperation Coordination Division of the Ministry of Finance and Okubo Akimitsu, chief representative of JICA Nepal Office on behalf of GON and JICA respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project aims to strengthen medical services for the rapidly growing number of trauma and emergency patients in Nepal by constructing a trauma and emergency center including emergency rooms, operating rooms, an ICU, and outpatient consultation rooms and providing medical equipment such as MRI, CT, C-arm, and X-ray machines, high steam sterilizers, etc at Dhulikhel Hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project implementation period is 48 months and the proposed assistance will be mobilized through the Ministry of Health and Population as a conditional grant, reads the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I would like to thank the Government of Japan for its continuous support in strengthening the health sector of Nepal. This project will be instrumental in catering to the emergency services especially to the patients of Dhulikhel and nearby places,” said Finance Secretary, Dr Krishna Hari Pushkar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I hope that the project will contribute to ensuring the healthy lives and promoting the welfare of Nepali people, thereby promoting the self-sustaining development of Nepal. I am confident that the objectives of the project will be achieved, thereby further strengthening the existing cordial relationship of friendship and cooperation between the peoples of Japan and Nepal,” stated Kikuta Yutaka, ambassador of Japan to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal, the number of trauma and emergency patients is increasing due to frequent disasters, public health emergencies, traffic accidents caused by increased traffic volume, and strokes and heart diseases caused by dietary changes associated with economic development. Therefore, it is urgent and important to increase the number of hospital beds and introduce necessary medical equipment, added the statement. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18914', 'image' => '20231006105840_duli.jpg', 'article_date' => '2023-10-06 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19189', 'article_category_id' => '1', 'title' => 'US National Dies after Falling off a Cliff ', 'sub_title' => '', 'summary' => 'October 6: A US citizen has died after falling off cliff while visiting Manang, a mountainous district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: A US citizen has died after falling off cliff while visiting Manang, a mountainous district. The victim has been identified as 69-year-old Charles Keith Davis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was traveling to Chame from Lamjung in a jeep (Ba 6 Cha 756) on Wednesday night when the incident occurred. He was together with his spouse, guide, driver and porter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Davis suddenly fell from the road when he was trying to remove a rock from the road at Khotrodanda of Naso Rural Municipality-3 along the Beshisahar-Chame road section. He fell some 100 meters down onto the Marsyangdi River bank, according to Deputy Superintendent of Police, Phanindra Ranabhat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A police team mobilized from District Police Office, Chame rushed him to District Hospital after rescuing him the same night, but the foreign traveler succumbed to his injuries during treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Davis' body has been sent to TU Teaching Hospital, Kathmandu for postmortem, the police added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18913', 'image' => '20231006011016_manang_july_9_cover_202202261308221689212297_1024.jpg', 'article_date' => '2023-10-06 13:09:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19184', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank Amends Margin Lending Cap of Rs 120 Million', 'sub_title' => '', 'summary' => 'The Nepal Rastra Bank (NRB) has made changes to its Integrated Guidelines for the year 2080 BS. One of the remarkable changes is the removal of the previous upper cap on margin lending, which was set at Rs 120 million. Under the new guidelines, the NRB has increased the limit for margin lending.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: The Nepal Rastra Bank (NRB) has made changes to its Integrated Guidelines for the year 2080 BS. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One of the remarkable changes is the removal of the previous upper cap on margin lending, which was set at Rs 120 million. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Under the new guidelines, the NRB has increased the limit for margin lending.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Individual investors can now avail margin lending up to Rs 150 million, while institutional investors have a higher limit of Rs 200 million.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This means that investors now have more flexibility in borrowing money for investing in the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision to remove the cap on margin lending comes in response to pressure from share market investors who argued that the cap of Rs 120 million on loans against the securities was negatively impacting the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the amended guidelines require commercial banks to maintain a counter cyclical buffer of 0.5 percent by the end of the current fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18912', 'image' => '20231006060613_collage (1).jpg', 'article_date' => '2023-10-06 06:04:48', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19199', 'article_category_id' => '1', 'title' => 'Government to Operate Fair-Price Shops from Today', 'sub_title' => '', 'summary' => 'October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Such shops selling daily essentials at reasonable prices would be run at various places across the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The state-run Food Management and Trading Company, the Salt Trading Corporation, and the Dairy Development Board will be operating the fair-price outlets till November 19.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The Minister of Industry, Commerce and Supplies (MOICS) informed that the shops would be operated considering the huge demand for daily essentials in the run-up to the festivals. The initiative is also aimed at curbing exorbitant price hikes of goods and providing the essentials to the people in a convenient manner, the ministry added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The fair-price shops are run by the government bodies during the time of festivals to give relief to the public because the private sector has been found charging exorbitant prices especially during the festive season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The government has prepared to set up fair-price shops at 35 different locations in the Kathmandu Valley. The government will be operating mobile shops as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, other districts to have the fair-price outlets are Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Lalitpur, Bhaktapur, Kaski, Tanahu, Gorkha, Manang, Mustang, Rupandehi, Banke, Bardiya, Rukum East and Rukum West.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Kanchanpur will also have fair-price outlets. The Food Management and Trading Company will open fair-price shops at 48 places of 42 districts, according to MOICS Spokesperson Sharmila Neupane.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The stalls will provide a discount of Rs 7 per kg of all sorts of rice, pulses, flour, and wheat, while the consumers will get Rs 10 off per kg of meat.</span></span> -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18927', 'image' => '20231008091445_20231007100031_20220919031638_20201123043159_92926.jpg', 'article_date' => '2023-10-08 09:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19198', 'article_category_id' => '1', 'title' => 'Revenue Collection From Birgunj Customs Office Down', 'sub_title' => '', 'summary' => 'The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the month of Shrawan, the Department of Customs had set a revenue collection target of Rs 15.62 billion, but the customs office collected Rs 3.75 billion less than the target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Information Officer of the office, Ramchandra Dhakal, the department had set a revenue collection target of Rs 19.38 billion for Bhadra, but it was able to collect only Rs 12.71 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that the revenue collection is primarily from the import of 20 items, including petroleum products and vehicles, and the revenue from these sources has been declining. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that revenue collection from the import of the top 20 items witnessed 53% decrease in the first month of current fiscal year compared to the same period last year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, there was a 62% decline in the revenue collection from the import of the top 20 items in the second month in the current fiscal year compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Dhakal said that Birgunj Customs Office collects more than 40% of its revenue from the import of fuel and vehicles and revealed that the revenue collection from both of these sources has decreased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Revenue collection from fuel import via the Birgun Customs Office has decreased by 11% and from the vehicle imports by 10% compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18926', 'image' => '20231008064331_collage (1).jpg', 'article_date' => '2023-10-08 06:38:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '19197', 'article_category_id' => '1', 'title' => 'Advance Booking of Bus Tickets for Dashain from Monday ', 'sub_title' => '', 'summary' => 'October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government took a decision to this effect following a meeting of all stakeholders including the Ministry of Physical Infrastructure and Transport and the transport entrepreneurs, informed Uddhav Prasad Rijal, director general of the Department of Transport Management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the transport entrepreneurs took the stance to not open the advance bookings unless the transport fare was increased, they later agreed to do so at the existing fare. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18924', 'image' => '20231007100517_ngers of dashain_koteshwor area (2).jpg', 'article_date' => '2023-10-07 22:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19195', 'article_category_id' => '1', 'title' => 'Bajhang Records 15 Tremors in Four Days ', 'sub_title' => '', 'summary' => 'October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. </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"">With the latest jolts, the district has experienced 15 tremors in the last four days. Last Tuesday, an earthquake measuring 6.3 in the Richter scale had jolted the district, according to the Earthquake Monitoring and Researcher Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist Bijay Prasad Koirala informed that the western belt of Nepal had stored huge force causing vulnerability to earthquake. The earthquakes recorded on Saturday are the aftershocks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There has been no major earthquake in the western belt of Nepal since 1505. So, it has stored tremendous force within. The release of the power created with the strike of two plates results in earthquake," he said, adding that such aftershocks would be felt for some more days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further warned of huge earthquake at any time in the future. However, the minor tremors could lessen such chances. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18923', 'image' => '20231007091336_20230329121710_earth.jpg', 'article_date' => '2023-10-07 21:13:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19194', 'article_category_id' => '1', 'title' => 'Karate Player Gurung Secures Silver Medal for Nepal', 'sub_title' => '', 'summary' => 'October 7: Karate player Arika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 7: Karate player Erika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“A historic SILVER MEDAL in Karate at the 19th Asian Games! This achievement marks a new chapter in the legacy of our karate athletes,” the National Sports Council, the apex sports governing body of Nepal, wrote on its Facebook page.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This is the first time that Nepal secured silver medal in individual event in the Asian games in the last 25 years, when Sabita Rajbhandari had bagged the honours in taekwondo for Nepal in 1998. Although Nepal had secured silver medal recently in the Asiad held in Indonesia, it was in group event of paragliding. Besides these three silver medals, Nepal has never secured better results in the Asian Games, which is the biggest sporting event after the Olympics.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Karate player Gurung defeated Yan Kai Ho of Hong Kong in women’s 68-kg category with a score of 8-4 in the semi-finals held earlier on Saturday before being ousted by Sofia Berultseva of Kazakhstan 3-0 to settle for the silver medal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Earlier, in the quarterfinal, Gurung defeated Yujuki Saway of Japan on the basis of golden score. Both of them had secured equal 1-1 point in the match.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, Nepal has won only two medals in the ongoing Asian Games. Earlier on Friday, the women's kabaddi team of Nepal had won a bronze medal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18922', 'image' => '20231007065908_386460379_334193095793622_526801378955242376_n.jpg', 'article_date' => '2023-10-07 18:58:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19193', 'article_category_id' => '1', 'title' => 'Drought caused 'Historic' Global Hydropower Drop in Early 2023 ', 'sub_title' => '', 'summary' => 'October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The research by renewable energy think tank Ember argues the drop is a "warning shot that hydro output could negatively affect the speed of the electricity transition". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The group said global hydropower generation fell 8.5 percent in the year to June, more than any full-year decline over the last two decades. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three-quarters of that decline was the result of falls in China, which baked through record temperatures earlier this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Between winter 2022 and spring 2023, most areas of southwest China experienced significantly less precipitation and higher temperatures than in a normal year, according to Beijing's ministry of emergency management. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The fall in hydropower output meant global carbon emissions rose very slightly in the first half of 2023, despite a 12-percent increase in solar and wind power worldwide. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lower growth in electricity demand helped keep the rise in emissions smaller than it might otherwise have been, Ember said in the report released Thursday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China, however, saw its emissions rise nearly eight percent as it compensated for the loss of hydropower. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But while the extreme heat and drought conditions that caused this year's decline may have been driven by climate change, the think tank warned it remains hard to calculate future effects. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The consequences of "climate change on hydro potential are geographically varied", the group noted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Changes in rainfall patterns and intensity as well as increased evaporation will affect hydro output both positively and negatively depending on the region." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some parts of central Africa, India, central Asia and northern high latitudes could see their potential to generate hydropower increase. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But in southern Europe, the southern United States and elsewhere, it is likely to weaken. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And the International Energy Agency last month projected fossil fuel demand will peak by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But wind and solar generation grew more slowly in the first half of this year than in the same period last year, reflecting the fragility of gains in the sector. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"While it is encouraging to see the remarkable growth of wind and solar energy, we can't ignore the stark reality of adverse hydro conditions intensified by climate change," said Malgorzata Wiatros-Motyka, Ember's senior electricity analyst. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The world is teetering at the peak of power sector emissions, and we now need to unleash the momentum for a rapid decline in fossil fuels by securing a global agreement to triple renewable capacity this decade." – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18921', 'image' => '20231006065639_20150823012330_ep1.jpg', 'article_date' => '2023-10-06 18:56:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19191', 'article_category_id' => '1', 'title' => 'Nine Committees Suggest Reforms of NAC, None Implemented so Far', 'sub_title' => '', 'summary' => 'October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind.', '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"">October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind. </span></span></span></span></p> <p><span style="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 Ministry of Culture, Tourism and Civil Aviation has already received the report of seven such committees, sub-committees, task forces and one report from the International Civil Aviation Organization (ICAO) for the reforms of the flag carrier 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"">However, all those suggestions are gathering dust in the drawers of the ministry. There has been no improvement in the structural and managerial condition of the corporation. The government’s negligence has made it challenging for NAC to survive in the competitive market of airline industry. Passengers are in a dilemma whether to take the service of state-owned Nepal Airlines Corporation or not due to problems with the engine and other glithes during NAC flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the latest example of the poor quality of NAC’s service, a plane flying from Kathmandu to Dammam in Saudi Arabia encountered a problem at 12:14 AM on Wednesday night, and had to be diverted to Kathmandu from Pakistani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Amid recurring problems occurring during flights and maintenance of the aircraft not being carried out on time, none of the suggestions received for improvement of the NCA have been implemented so far. The number of flights and destinations of the Nepal Airlines, which is operating both domestic and international flights, has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee formed under the chairmanship of former governor Chhetri submitted a report with suggestions to the Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, on Sunday.</span></span></span></span></p> <p><span style="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 report, the NAC, which flew to 39 domestic destinations in the year 2050, currently flies to a total of 19 destinations. International destinations have also decreased. The corporation, which expanded its service to 13 international destinations in 2050, now flies only to 9 destinations. The NAC, which had 19 aircraft in the year 2050, currently has one twin-otter for domestic flights and four large aircraft operating internationally. The rest of the aircraft have been grounded.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During this period, the NAC’s competitiveness in the market has declined due to the entry of private airline companies and the addition of foreign airlines in international flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders say that the NAC has not been able to make progress due to non-implementation of the suggestions given to improve the state-owned airline company, which is losing market share in internal and external destinations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Committees, sub-committees and task forces formed several times have given various suggestions to transform the NAC into a profitable, reliable, and safe airline company. The practice of forming one after another committee or task force without implementing the suggestions shows that the ministry is not serious about the managerial and structural reforms of the NAC. Rather, there is a suspicion that such working groups, committees or sub-committees are formed only to provide employment to their people.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On August 7, 2019, the then Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had formed a similar committee. The coordinator and former secretary of the committee, Sushil Ghimire, says that there is no point forming new committees if the government is not interested in implementing the suggestions given by such committees.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The government’s failure to implement the suggestions so far is the lack of commitment to reform the NAC," Ghimire 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"">Former Secretary Shankar Prasad Adhikari says that there is a trend of making reports and not taking any decision once the repot is prepared. "This trend should be stopped and a decision should be taken at the political level," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The chairman of the latest committee, former governor Chettri, expressed confidence that the government will implement the suggestions made by the committee. "If the NAC is to be bailed out from the current situation, there is no alternative than to implementing the suggestion," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">When New Business Age inquired about the implementation status of the latest report with Bharatmani Subedi, secretary at the ministry, he refused to comment saying, "The report is on the website of the ministry, we will talk about the implementation later." The ministry had published the report on its official website on Wednesday.</span></span></span></span></p> <p><span style="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 report has suggested that the corporation should be converted into a company. Since the report prepared by former Chief Secretary Damodar Gautam on January 2, 2002, it has been suggested to convert the NAC into a company. The latest report also suggested that it should be privatized and converted into a public company, and strategic partners should be invited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Widebody aircraft operating in losses</span></span></strong></span></span></p> <p><span style="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 report states that even after six years of operating the widebody-A330 aircraft purchased by the NAC, it has not been able to earn profit. The two widebody aircraft purchased by the NAC started flying from the financial year (2074/75). As the expenses are more than the income of those aircraft with 274 seat capacity, the NAC is consistently losing money while operating those two aircraft.</span></span></span></span></p> <p><span style="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 report, as of last April, NAC earned Rs 7.70 billion from these two aircraft while the expenditure stood at Rs 10.98 billion. Due to this, the corporation suffered a loss of Rs 3.28 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18920', 'image' => '20231006022011_naccccc.jpg', 'article_date' => '2023-10-06 14:19:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19192', 'article_category_id' => '1', 'title' => 'Dues of Previous Fiscal Year Will Be Cleared Before Dashain: Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While talking to mediapersons in Chitwan, Minister Mahat said the government has already disbursed approximately Rs 60-70 billion towards these outstanding dues, with around Rs 6-7 billion remaining to be paid. Minister Mahat assured that these remaining payments would be completed prior to Dashain.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While acknowledging that there are economic challenges, Minister Mahat emphasized that the severity of the crisis is not as pronounced as some people claim. He pointed out that part of the problem stems from the improper utilization of loans extended by the Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Minister Mahat, loans from banks were easily accessible and often invested without careful consideration of their potential returns, leading to the current economic repercussions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He also noted that the strict monetary policy has contributed to an increase in interest rates, causing some entrepreneurs to face difficulties.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In response to these challenges, the government is actively working to strengthen the foundation of the economy, added Minister Mahat.</span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18919', 'image' => '20231006040438_collage (14).jpg', 'article_date' => '2023-10-06 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19190', 'article_category_id' => '1', 'title' => 'Light Rainfall Likely Today in Eastern and Central Nepal', 'sub_title' => '', 'summary' => 'October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the weather in Koshi Province, Madhes Province, Bagmati Province and Gandaki Province has remained partly to generally cloudy while rainfall is taking place at one or two places in Koshi, Bagmati and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Koshi, Madhes, Bagmati and Gandaki provinces would remain partly to generally cloudy in the afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall has been forecast at few places of Koshi, Bagmati and Gandaki provinces while light rainfall along with lightning and thunder is forecast at one or two places of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, there is a possibility of light rainfall with thunder and lightning at few places of Koshi, Bagmati and Gandaki provinces tonight. </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"">The monsoon, which entered Nepal on June 14 this year, was expected to withdraw on October 2 but it has been delayed by a few more days. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18918', 'image' => '20231006012531_weatherrr - Copy.jpg', 'article_date' => '2023-10-06 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19188', 'article_category_id' => '1', 'title' => 'IMF reaches Staff-Level Agreement to Review Extended Credit Facility ', 'sub_title' => '', 'summary' => 'October 6: Government authorities of Nepal and the International Monetary Fund (IMF) team have reached a staff-level agreement for the disbursement of about $51.3 million under the Extended Credit Facility (ECF) arrangement. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Government authorities of Nepal and the International Monetary Fund (IMF) team have reached a staff-level agreement for the disbursement of about $51.3 million under the Extended Credit Facility (ECF) arrangement. The third review of the agreement is subject to approval by the IMF’s Executive Board, according to a press release issued by IMF on October 5. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s external position has strengthened, supported by prudent fiscal and monetary policies, buoyant remittances, and increasing tourism activity. Following a slowdown last year, growth is projected to recover to 3.5 percent in FY 2023/24, but to remain below potential, reflecting weak domestic demand, the IMF statement said adding inflation is declining but is still elevated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It further stated that necessary balance sheet repairs have been limiting credit growth in spite of monetary relaxation. Reforms under the ECF aim to generate more stable, pro-growth credit while maintaining price and external stability. Accelerating the planned increase in capital spending, as envisaged in the budget, will help boost demand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The IMF acknowledged that the government authorities of Nepal are diligently making progress to improve AML/CFT, including enacting amendments of AML laws to bring them in line with international standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The press statement was released upon the conclusion of IMF team visit led by Tidiane Kinda from September 21 to October 5. The team held discussions on the policies and reforms that could lead to the completion of the third review of the economic programme supported by the IMF’s ECF. At the end of the mission, Kinda issued statement asserting that Nepal continues to make progress with the implementation of the ECF-supported program. </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"">“On the fiscal front, important achievements by the Ministry of Finance include the formulation of a fiscal risk register, the publication of the non-custom tax exemptions, and the implementation of a cash flow forecasting framework, all reforms aimed at strengthening transparency of public finances and further enhancing fiscal management," the press stated quoted Kinda as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ECF is a scheme that provides financial assistance to countries with protracted balance of payments problems. It supports countries’ economic programs aimed at moving toward a stable and sustainable macroeconomic position consistent with strong and durable poverty reduction and growth. It is also expected to help catalyze additional foreign aid. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18917', 'image' => '20231006125525_20220426051733_imf.jpg', 'article_date' => '2023-10-06 12:54:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19187', 'article_category_id' => '1', 'title' => 'Nepal Secures First Medal in 19th Asian Games', 'sub_title' => '', 'summary' => 'October 6: Nepal has finally succeeded in winning a medal in the ongoing 19th Asian Games in Hangzhou, China. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Nepal has finally succeeded in winning a medal in the ongoing 19th Asian Games in Hangzhou, China. Nepal received a bronze medal in women’s kabaddi event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal secured a bronze medal in the event after being defeated by India 61-17 in the semifinal. </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"">Nepal had entered semifinal as a first runner up of Group 'B'. Similarly, India had entered seminal as the winner of Group 'A'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All four teams playing the seminal in kabaddi were assured of medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It was the first time Nepal participated in the Asian Games under women’s kabaddi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Group 'B' has Iran and Bangladesh as well. As a winner of Group 'B', Iran got entry to the semifinal and is playing against first runner up of Group 'A', Chinese Taipei. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The players in the Nepali team were Menuka Kumari Rajbanshi (captain), Manmati Bista, Jayanti Badu, Sunita Thapa, Rabina Chaudhari, Anuja Kulung Rai, Ganga Rai, Nitu Gurung, Isha Rai, Arpana Chaudhari, Sirjana Tharu and Kalawati Pant. Team instructor is Bishnu Datt Bhatta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18916', 'image' => '20231006120602_a.jpg', 'article_date' => '2023-10-06 12:05:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19186', 'article_category_id' => '1', 'title' => 'Two more Earthquakes Jolt Bajhang', 'sub_title' => '', 'summary' => 'October 6: Two more earthquakes were felt last night (Thursday) with epicenters at Chainpur of Bajhang district in Sudurpaschim Province. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Two more earthquakes were felt last night (Thursday) with epicenters at Chainpur of Bajhang district in Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Centre, Lainchaur informed that the earthquakes – one measuring 4.3 in the Richter scale and another measuring 3.9 in the Richter scale – were recorded at 10:52 pm and 12:23 am last night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The centre further informed that on Tuesday afternoon an earthquake measuring 5.3 in the Richter scale had occurred in Bajhang with its epicenter at Talkot. On the same day, a 6.3 Richter scale quake jolted the district at 3:06 pm. It was followed by 4.1 Richter scale tremor at 3:45 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A person died while a dozen others were injured in the earthquake. Similarly, hundreds of houses were damaged in the quake. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Geologist at the Centre, Dr Lok Bijay Adhikari, informed that the western belt of Nepal is vulnerable to earthquake anytime. "For 500 years, Nepal's western region has not seen any noticeable earthquake. So the tremors felt in recent times in this region is a wake-up call." -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18915', 'image' => '20231006112012_20230620111902_earth.jpg', 'article_date' => '2023-10-06 11:19:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19185', 'article_category_id' => '1', 'title' => 'Japan Extends Grant to Improve Dhulikhel Hospital Trauma and Emergency Centre ', 'sub_title' => '', 'summary' => 'October 5: The Government of Nepal and the Government of Japan on Tursday signed agreement for utilizing the grant assistance of JPY 3,296 million (approximately NPR 2.95 billion) for the implementation of the ‘Project for the Improvement of Dhulikhel Hospital’s Trauma and Emergency Center’. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Government of Nepal and the Government of Japan on Tursday signed agreement for utilizing the grant assistance of JPY 3,296 million (approximately NPR 2.95 billion) for the implementation of the ‘Project for the Improvement of Dhulikhel Hospital’s Trauma and Emergency Center’. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Dr Krishna Hari Pushkar and Japanese Ambassador to Nepal Kikuta Yutaka exchanged the notes on behalf of their respective governments, reads a press release issued by the Ministry of Finance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the grant agreement was signed by Shreekrishna Nepal, joint secretary at the International Economic Cooperation Coordination Division of the Ministry of Finance and Okubo Akimitsu, chief representative of JICA Nepal Office on behalf of GON and JICA respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project aims to strengthen medical services for the rapidly growing number of trauma and emergency patients in Nepal by constructing a trauma and emergency center including emergency rooms, operating rooms, an ICU, and outpatient consultation rooms and providing medical equipment such as MRI, CT, C-arm, and X-ray machines, high steam sterilizers, etc at Dhulikhel Hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project implementation period is 48 months and the proposed assistance will be mobilized through the Ministry of Health and Population as a conditional grant, reads the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I would like to thank the Government of Japan for its continuous support in strengthening the health sector of Nepal. This project will be instrumental in catering to the emergency services especially to the patients of Dhulikhel and nearby places,” said Finance Secretary, Dr Krishna Hari Pushkar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I hope that the project will contribute to ensuring the healthy lives and promoting the welfare of Nepali people, thereby promoting the self-sustaining development of Nepal. I am confident that the objectives of the project will be achieved, thereby further strengthening the existing cordial relationship of friendship and cooperation between the peoples of Japan and Nepal,” stated Kikuta Yutaka, ambassador of Japan to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal, the number of trauma and emergency patients is increasing due to frequent disasters, public health emergencies, traffic accidents caused by increased traffic volume, and strokes and heart diseases caused by dietary changes associated with economic development. Therefore, it is urgent and important to increase the number of hospital beds and introduce necessary medical equipment, added the statement. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18914', 'image' => '20231006105840_duli.jpg', 'article_date' => '2023-10-06 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19189', 'article_category_id' => '1', 'title' => 'US National Dies after Falling off a Cliff ', 'sub_title' => '', 'summary' => 'October 6: A US citizen has died after falling off cliff while visiting Manang, a mountainous district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: A US citizen has died after falling off cliff while visiting Manang, a mountainous district. The victim has been identified as 69-year-old Charles Keith Davis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was traveling to Chame from Lamjung in a jeep (Ba 6 Cha 756) on Wednesday night when the incident occurred. He was together with his spouse, guide, driver and porter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Davis suddenly fell from the road when he was trying to remove a rock from the road at Khotrodanda of Naso Rural Municipality-3 along the Beshisahar-Chame road section. He fell some 100 meters down onto the Marsyangdi River bank, according to Deputy Superintendent of Police, Phanindra Ranabhat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A police team mobilized from District Police Office, Chame rushed him to District Hospital after rescuing him the same night, but the foreign traveler succumbed to his injuries during treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Davis' body has been sent to TU Teaching Hospital, Kathmandu for postmortem, the police added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18913', 'image' => '20231006011016_manang_july_9_cover_202202261308221689212297_1024.jpg', 'article_date' => '2023-10-06 13:09:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19184', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank Amends Margin Lending Cap of Rs 120 Million', 'sub_title' => '', 'summary' => 'The Nepal Rastra Bank (NRB) has made changes to its Integrated Guidelines for the year 2080 BS. One of the remarkable changes is the removal of the previous upper cap on margin lending, which was set at Rs 120 million. Under the new guidelines, the NRB has increased the limit for margin lending.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: The Nepal Rastra Bank (NRB) has made changes to its Integrated Guidelines for the year 2080 BS. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One of the remarkable changes is the removal of the previous upper cap on margin lending, which was set at Rs 120 million. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Under the new guidelines, the NRB has increased the limit for margin lending.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Individual investors can now avail margin lending up to Rs 150 million, while institutional investors have a higher limit of Rs 200 million.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This means that investors now have more flexibility in borrowing money for investing in the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision to remove the cap on margin lending comes in response to pressure from share market investors who argued that the cap of Rs 120 million on loans against the securities was negatively impacting the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the amended guidelines require commercial banks to maintain a counter cyclical buffer of 0.5 percent by the end of the current fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18912', 'image' => '20231006060613_collage (1).jpg', 'article_date' => '2023-10-06 06:04:48', '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
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19199', 'article_category_id' => '1', 'title' => 'Government to Operate Fair-Price Shops from Today', 'sub_title' => '', 'summary' => 'October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Such shops selling daily essentials at reasonable prices would be run at various places across the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The state-run Food Management and Trading Company, the Salt Trading Corporation, and the Dairy Development Board will be operating the fair-price outlets till November 19.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The Minister of Industry, Commerce and Supplies (MOICS) informed that the shops would be operated considering the huge demand for daily essentials in the run-up to the festivals. The initiative is also aimed at curbing exorbitant price hikes of goods and providing the essentials to the people in a convenient manner, the ministry added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The fair-price shops are run by the government bodies during the time of festivals to give relief to the public because the private sector has been found charging exorbitant prices especially during the festive season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The government has prepared to set up fair-price shops at 35 different locations in the Kathmandu Valley. The government will be operating mobile shops as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, other districts to have the fair-price outlets are Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Lalitpur, Bhaktapur, Kaski, Tanahu, Gorkha, Manang, Mustang, Rupandehi, Banke, Bardiya, Rukum East and Rukum West.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Kanchanpur will also have fair-price outlets. The Food Management and Trading Company will open fair-price shops at 48 places of 42 districts, according to MOICS Spokesperson Sharmila Neupane.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The stalls will provide a discount of Rs 7 per kg of all sorts of rice, pulses, flour, and wheat, while the consumers will get Rs 10 off per kg of meat.</span></span> -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18927', 'image' => '20231008091445_20231007100031_20220919031638_20201123043159_92926.jpg', 'article_date' => '2023-10-08 09:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19198', 'article_category_id' => '1', 'title' => 'Revenue Collection From Birgunj Customs Office Down', 'sub_title' => '', 'summary' => 'The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the month of Shrawan, the Department of Customs had set a revenue collection target of Rs 15.62 billion, but the customs office collected Rs 3.75 billion less than the target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Information Officer of the office, Ramchandra Dhakal, the department had set a revenue collection target of Rs 19.38 billion for Bhadra, but it was able to collect only Rs 12.71 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that the revenue collection is primarily from the import of 20 items, including petroleum products and vehicles, and the revenue from these sources has been declining. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that revenue collection from the import of the top 20 items witnessed 53% decrease in the first month of current fiscal year compared to the same period last year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, there was a 62% decline in the revenue collection from the import of the top 20 items in the second month in the current fiscal year compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Dhakal said that Birgunj Customs Office collects more than 40% of its revenue from the import of fuel and vehicles and revealed that the revenue collection from both of these sources has decreased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Revenue collection from fuel import via the Birgun Customs Office has decreased by 11% and from the vehicle imports by 10% compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18926', 'image' => '20231008064331_collage (1).jpg', 'article_date' => '2023-10-08 06:38:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '19197', 'article_category_id' => '1', 'title' => 'Advance Booking of Bus Tickets for Dashain from Monday ', 'sub_title' => '', 'summary' => 'October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government took a decision to this effect following a meeting of all stakeholders including the Ministry of Physical Infrastructure and Transport and the transport entrepreneurs, informed Uddhav Prasad Rijal, director general of the Department of Transport Management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the transport entrepreneurs took the stance to not open the advance bookings unless the transport fare was increased, they later agreed to do so at the existing fare. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18924', 'image' => '20231007100517_ngers of dashain_koteshwor area (2).jpg', 'article_date' => '2023-10-07 22:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19195', 'article_category_id' => '1', 'title' => 'Bajhang Records 15 Tremors in Four Days ', 'sub_title' => '', 'summary' => 'October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. </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"">With the latest jolts, the district has experienced 15 tremors in the last four days. Last Tuesday, an earthquake measuring 6.3 in the Richter scale had jolted the district, according to the Earthquake Monitoring and Researcher Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist Bijay Prasad Koirala informed that the western belt of Nepal had stored huge force causing vulnerability to earthquake. The earthquakes recorded on Saturday are the aftershocks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There has been no major earthquake in the western belt of Nepal since 1505. So, it has stored tremendous force within. The release of the power created with the strike of two plates results in earthquake," he said, adding that such aftershocks would be felt for some more days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further warned of huge earthquake at any time in the future. However, the minor tremors could lessen such chances. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18923', 'image' => '20231007091336_20230329121710_earth.jpg', 'article_date' => '2023-10-07 21:13:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19194', 'article_category_id' => '1', 'title' => 'Karate Player Gurung Secures Silver Medal for Nepal', 'sub_title' => '', 'summary' => 'October 7: Karate player Arika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 7: Karate player Erika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“A historic SILVER MEDAL in Karate at the 19th Asian Games! This achievement marks a new chapter in the legacy of our karate athletes,” the National Sports Council, the apex sports governing body of Nepal, wrote on its Facebook page.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This is the first time that Nepal secured silver medal in individual event in the Asian games in the last 25 years, when Sabita Rajbhandari had bagged the honours in taekwondo for Nepal in 1998. Although Nepal had secured silver medal recently in the Asiad held in Indonesia, it was in group event of paragliding. Besides these three silver medals, Nepal has never secured better results in the Asian Games, which is the biggest sporting event after the Olympics.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Karate player Gurung defeated Yan Kai Ho of Hong Kong in women’s 68-kg category with a score of 8-4 in the semi-finals held earlier on Saturday before being ousted by Sofia Berultseva of Kazakhstan 3-0 to settle for the silver medal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Earlier, in the quarterfinal, Gurung defeated Yujuki Saway of Japan on the basis of golden score. Both of them had secured equal 1-1 point in the match.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, Nepal has won only two medals in the ongoing Asian Games. Earlier on Friday, the women's kabaddi team of Nepal had won a bronze medal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18922', 'image' => '20231007065908_386460379_334193095793622_526801378955242376_n.jpg', 'article_date' => '2023-10-07 18:58:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19193', 'article_category_id' => '1', 'title' => 'Drought caused 'Historic' Global Hydropower Drop in Early 2023 ', 'sub_title' => '', 'summary' => 'October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The research by renewable energy think tank Ember argues the drop is a "warning shot that hydro output could negatively affect the speed of the electricity transition". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The group said global hydropower generation fell 8.5 percent in the year to June, more than any full-year decline over the last two decades. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three-quarters of that decline was the result of falls in China, which baked through record temperatures earlier this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Between winter 2022 and spring 2023, most areas of southwest China experienced significantly less precipitation and higher temperatures than in a normal year, according to Beijing's ministry of emergency management. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The fall in hydropower output meant global carbon emissions rose very slightly in the first half of 2023, despite a 12-percent increase in solar and wind power worldwide. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lower growth in electricity demand helped keep the rise in emissions smaller than it might otherwise have been, Ember said in the report released Thursday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China, however, saw its emissions rise nearly eight percent as it compensated for the loss of hydropower. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But while the extreme heat and drought conditions that caused this year's decline may have been driven by climate change, the think tank warned it remains hard to calculate future effects. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The consequences of "climate change on hydro potential are geographically varied", the group noted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Changes in rainfall patterns and intensity as well as increased evaporation will affect hydro output both positively and negatively depending on the region." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some parts of central Africa, India, central Asia and northern high latitudes could see their potential to generate hydropower increase. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But in southern Europe, the southern United States and elsewhere, it is likely to weaken. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And the International Energy Agency last month projected fossil fuel demand will peak by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But wind and solar generation grew more slowly in the first half of this year than in the same period last year, reflecting the fragility of gains in the sector. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"While it is encouraging to see the remarkable growth of wind and solar energy, we can't ignore the stark reality of adverse hydro conditions intensified by climate change," said Malgorzata Wiatros-Motyka, Ember's senior electricity analyst. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The world is teetering at the peak of power sector emissions, and we now need to unleash the momentum for a rapid decline in fossil fuels by securing a global agreement to triple renewable capacity this decade." – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18921', 'image' => '20231006065639_20150823012330_ep1.jpg', 'article_date' => '2023-10-06 18:56:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19191', 'article_category_id' => '1', 'title' => 'Nine Committees Suggest Reforms of NAC, None Implemented so Far', 'sub_title' => '', 'summary' => 'October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind.', '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"">October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind. </span></span></span></span></p> <p><span style="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 Ministry of Culture, Tourism and Civil Aviation has already received the report of seven such committees, sub-committees, task forces and one report from the International Civil Aviation Organization (ICAO) for the reforms of the flag carrier 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"">However, all those suggestions are gathering dust in the drawers of the ministry. There has been no improvement in the structural and managerial condition of the corporation. The government’s negligence has made it challenging for NAC to survive in the competitive market of airline industry. Passengers are in a dilemma whether to take the service of state-owned Nepal Airlines Corporation or not due to problems with the engine and other glithes during NAC flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the latest example of the poor quality of NAC’s service, a plane flying from Kathmandu to Dammam in Saudi Arabia encountered a problem at 12:14 AM on Wednesday night, and had to be diverted to Kathmandu from Pakistani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Amid recurring problems occurring during flights and maintenance of the aircraft not being carried out on time, none of the suggestions received for improvement of the NCA have been implemented so far. The number of flights and destinations of the Nepal Airlines, which is operating both domestic and international flights, has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee formed under the chairmanship of former governor Chhetri submitted a report with suggestions to the Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, on Sunday.</span></span></span></span></p> <p><span style="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 report, the NAC, which flew to 39 domestic destinations in the year 2050, currently flies to a total of 19 destinations. International destinations have also decreased. The corporation, which expanded its service to 13 international destinations in 2050, now flies only to 9 destinations. The NAC, which had 19 aircraft in the year 2050, currently has one twin-otter for domestic flights and four large aircraft operating internationally. The rest of the aircraft have been grounded.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During this period, the NAC’s competitiveness in the market has declined due to the entry of private airline companies and the addition of foreign airlines in international flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders say that the NAC has not been able to make progress due to non-implementation of the suggestions given to improve the state-owned airline company, which is losing market share in internal and external destinations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Committees, sub-committees and task forces formed several times have given various suggestions to transform the NAC into a profitable, reliable, and safe airline company. The practice of forming one after another committee or task force without implementing the suggestions shows that the ministry is not serious about the managerial and structural reforms of the NAC. Rather, there is a suspicion that such working groups, committees or sub-committees are formed only to provide employment to their people.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On August 7, 2019, the then Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had formed a similar committee. The coordinator and former secretary of the committee, Sushil Ghimire, says that there is no point forming new committees if the government is not interested in implementing the suggestions given by such committees.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The government’s failure to implement the suggestions so far is the lack of commitment to reform the NAC," Ghimire 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"">Former Secretary Shankar Prasad Adhikari says that there is a trend of making reports and not taking any decision once the repot is prepared. "This trend should be stopped and a decision should be taken at the political level," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The chairman of the latest committee, former governor Chettri, expressed confidence that the government will implement the suggestions made by the committee. "If the NAC is to be bailed out from the current situation, there is no alternative than to implementing the suggestion," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">When New Business Age inquired about the implementation status of the latest report with Bharatmani Subedi, secretary at the ministry, he refused to comment saying, "The report is on the website of the ministry, we will talk about the implementation later." The ministry had published the report on its official website on Wednesday.</span></span></span></span></p> <p><span style="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 report has suggested that the corporation should be converted into a company. Since the report prepared by former Chief Secretary Damodar Gautam on January 2, 2002, it has been suggested to convert the NAC into a company. The latest report also suggested that it should be privatized and converted into a public company, and strategic partners should be invited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Widebody aircraft operating in losses</span></span></strong></span></span></p> <p><span style="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 report states that even after six years of operating the widebody-A330 aircraft purchased by the NAC, it has not been able to earn profit. The two widebody aircraft purchased by the NAC started flying from the financial year (2074/75). As the expenses are more than the income of those aircraft with 274 seat capacity, the NAC is consistently losing money while operating those two aircraft.</span></span></span></span></p> <p><span style="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 report, as of last April, NAC earned Rs 7.70 billion from these two aircraft while the expenditure stood at Rs 10.98 billion. Due to this, the corporation suffered a loss of Rs 3.28 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18920', 'image' => '20231006022011_naccccc.jpg', 'article_date' => '2023-10-06 14:19:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19192', 'article_category_id' => '1', 'title' => 'Dues of Previous Fiscal Year Will Be Cleared Before Dashain: Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While talking to mediapersons in Chitwan, Minister Mahat said the government has already disbursed approximately Rs 60-70 billion towards these outstanding dues, with around Rs 6-7 billion remaining to be paid. Minister Mahat assured that these remaining payments would be completed prior to Dashain.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While acknowledging that there are economic challenges, Minister Mahat emphasized that the severity of the crisis is not as pronounced as some people claim. He pointed out that part of the problem stems from the improper utilization of loans extended by the Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Minister Mahat, loans from banks were easily accessible and often invested without careful consideration of their potential returns, leading to the current economic repercussions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He also noted that the strict monetary policy has contributed to an increase in interest rates, causing some entrepreneurs to face difficulties.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In response to these challenges, the government is actively working to strengthen the foundation of the economy, added Minister Mahat.</span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18919', 'image' => '20231006040438_collage (14).jpg', 'article_date' => '2023-10-06 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19190', 'article_category_id' => '1', 'title' => 'Light Rainfall Likely Today in Eastern and Central Nepal', 'sub_title' => '', 'summary' => 'October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the weather in Koshi Province, Madhes Province, Bagmati Province and Gandaki Province has remained partly to generally cloudy while rainfall is taking place at one or two places in Koshi, Bagmati and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Koshi, Madhes, Bagmati and Gandaki provinces would remain partly to generally cloudy in the afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall has been forecast at few places of Koshi, Bagmati and Gandaki provinces while light rainfall along with lightning and thunder is forecast at one or two places of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, there is a possibility of light rainfall with thunder and lightning at few places of Koshi, Bagmati and Gandaki provinces tonight. </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"">The monsoon, which entered Nepal on June 14 this year, was expected to withdraw on October 2 but it has been delayed by a few more days. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18918', 'image' => '20231006012531_weatherrr - Copy.jpg', 'article_date' => '2023-10-06 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19188', 'article_category_id' => '1', 'title' => 'IMF reaches Staff-Level Agreement to Review Extended Credit Facility ', 'sub_title' => '', 'summary' => 'October 6: Government authorities of Nepal and the International Monetary Fund (IMF) team have reached a staff-level agreement for the disbursement of about $51.3 million under the Extended Credit Facility (ECF) arrangement. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Government authorities of Nepal and the International Monetary Fund (IMF) team have reached a staff-level agreement for the disbursement of about $51.3 million under the Extended Credit Facility (ECF) arrangement. The third review of the agreement is subject to approval by the IMF’s Executive Board, according to a press release issued by IMF on October 5. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s external position has strengthened, supported by prudent fiscal and monetary policies, buoyant remittances, and increasing tourism activity. Following a slowdown last year, growth is projected to recover to 3.5 percent in FY 2023/24, but to remain below potential, reflecting weak domestic demand, the IMF statement said adding inflation is declining but is still elevated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It further stated that necessary balance sheet repairs have been limiting credit growth in spite of monetary relaxation. Reforms under the ECF aim to generate more stable, pro-growth credit while maintaining price and external stability. Accelerating the planned increase in capital spending, as envisaged in the budget, will help boost demand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The IMF acknowledged that the government authorities of Nepal are diligently making progress to improve AML/CFT, including enacting amendments of AML laws to bring them in line with international standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The press statement was released upon the conclusion of IMF team visit led by Tidiane Kinda from September 21 to October 5. The team held discussions on the policies and reforms that could lead to the completion of the third review of the economic programme supported by the IMF’s ECF. At the end of the mission, Kinda issued statement asserting that Nepal continues to make progress with the implementation of the ECF-supported program. </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"">“On the fiscal front, important achievements by the Ministry of Finance include the formulation of a fiscal risk register, the publication of the non-custom tax exemptions, and the implementation of a cash flow forecasting framework, all reforms aimed at strengthening transparency of public finances and further enhancing fiscal management," the press stated quoted Kinda as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ECF is a scheme that provides financial assistance to countries with protracted balance of payments problems. It supports countries’ economic programs aimed at moving toward a stable and sustainable macroeconomic position consistent with strong and durable poverty reduction and growth. It is also expected to help catalyze additional foreign aid. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18917', 'image' => '20231006125525_20220426051733_imf.jpg', 'article_date' => '2023-10-06 12:54:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19187', 'article_category_id' => '1', 'title' => 'Nepal Secures First Medal in 19th Asian Games', 'sub_title' => '', 'summary' => 'October 6: Nepal has finally succeeded in winning a medal in the ongoing 19th Asian Games in Hangzhou, China. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Nepal has finally succeeded in winning a medal in the ongoing 19th Asian Games in Hangzhou, China. Nepal received a bronze medal in women’s kabaddi event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal secured a bronze medal in the event after being defeated by India 61-17 in the semifinal. </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"">Nepal had entered semifinal as a first runner up of Group 'B'. Similarly, India had entered seminal as the winner of Group 'A'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All four teams playing the seminal in kabaddi were assured of medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It was the first time Nepal participated in the Asian Games under women’s kabaddi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Group 'B' has Iran and Bangladesh as well. As a winner of Group 'B', Iran got entry to the semifinal and is playing against first runner up of Group 'A', Chinese Taipei. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The players in the Nepali team were Menuka Kumari Rajbanshi (captain), Manmati Bista, Jayanti Badu, Sunita Thapa, Rabina Chaudhari, Anuja Kulung Rai, Ganga Rai, Nitu Gurung, Isha Rai, Arpana Chaudhari, Sirjana Tharu and Kalawati Pant. Team instructor is Bishnu Datt Bhatta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18916', 'image' => '20231006120602_a.jpg', 'article_date' => '2023-10-06 12:05:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19186', 'article_category_id' => '1', 'title' => 'Two more Earthquakes Jolt Bajhang', 'sub_title' => '', 'summary' => 'October 6: Two more earthquakes were felt last night (Thursday) with epicenters at Chainpur of Bajhang district in Sudurpaschim Province. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Two more earthquakes were felt last night (Thursday) with epicenters at Chainpur of Bajhang district in Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Centre, Lainchaur informed that the earthquakes – one measuring 4.3 in the Richter scale and another measuring 3.9 in the Richter scale – were recorded at 10:52 pm and 12:23 am last night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The centre further informed that on Tuesday afternoon an earthquake measuring 5.3 in the Richter scale had occurred in Bajhang with its epicenter at Talkot. On the same day, a 6.3 Richter scale quake jolted the district at 3:06 pm. It was followed by 4.1 Richter scale tremor at 3:45 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A person died while a dozen others were injured in the earthquake. Similarly, hundreds of houses were damaged in the quake. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Geologist at the Centre, Dr Lok Bijay Adhikari, informed that the western belt of Nepal is vulnerable to earthquake anytime. "For 500 years, Nepal's western region has not seen any noticeable earthquake. So the tremors felt in recent times in this region is a wake-up call." -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18915', 'image' => '20231006112012_20230620111902_earth.jpg', 'article_date' => '2023-10-06 11:19:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19185', 'article_category_id' => '1', 'title' => 'Japan Extends Grant to Improve Dhulikhel Hospital Trauma and Emergency Centre ', 'sub_title' => '', 'summary' => 'October 5: The Government of Nepal and the Government of Japan on Tursday signed agreement for utilizing the grant assistance of JPY 3,296 million (approximately NPR 2.95 billion) for the implementation of the ‘Project for the Improvement of Dhulikhel Hospital’s Trauma and Emergency Center’. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Government of Nepal and the Government of Japan on Tursday signed agreement for utilizing the grant assistance of JPY 3,296 million (approximately NPR 2.95 billion) for the implementation of the ‘Project for the Improvement of Dhulikhel Hospital’s Trauma and Emergency Center’. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Dr Krishna Hari Pushkar and Japanese Ambassador to Nepal Kikuta Yutaka exchanged the notes on behalf of their respective governments, reads a press release issued by the Ministry of Finance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the grant agreement was signed by Shreekrishna Nepal, joint secretary at the International Economic Cooperation Coordination Division of the Ministry of Finance and Okubo Akimitsu, chief representative of JICA Nepal Office on behalf of GON and JICA respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project aims to strengthen medical services for the rapidly growing number of trauma and emergency patients in Nepal by constructing a trauma and emergency center including emergency rooms, operating rooms, an ICU, and outpatient consultation rooms and providing medical equipment such as MRI, CT, C-arm, and X-ray machines, high steam sterilizers, etc at Dhulikhel Hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project implementation period is 48 months and the proposed assistance will be mobilized through the Ministry of Health and Population as a conditional grant, reads the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I would like to thank the Government of Japan for its continuous support in strengthening the health sector of Nepal. This project will be instrumental in catering to the emergency services especially to the patients of Dhulikhel and nearby places,” said Finance Secretary, Dr Krishna Hari Pushkar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I hope that the project will contribute to ensuring the healthy lives and promoting the welfare of Nepali people, thereby promoting the self-sustaining development of Nepal. I am confident that the objectives of the project will be achieved, thereby further strengthening the existing cordial relationship of friendship and cooperation between the peoples of Japan and Nepal,” stated Kikuta Yutaka, ambassador of Japan to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal, the number of trauma and emergency patients is increasing due to frequent disasters, public health emergencies, traffic accidents caused by increased traffic volume, and strokes and heart diseases caused by dietary changes associated with economic development. Therefore, it is urgent and important to increase the number of hospital beds and introduce necessary medical equipment, added the statement. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18914', 'image' => '20231006105840_duli.jpg', 'article_date' => '2023-10-06 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19189', 'article_category_id' => '1', 'title' => 'US National Dies after Falling off a Cliff ', 'sub_title' => '', 'summary' => 'October 6: A US citizen has died after falling off cliff while visiting Manang, a mountainous district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: A US citizen has died after falling off cliff while visiting Manang, a mountainous district. The victim has been identified as 69-year-old Charles Keith Davis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was traveling to Chame from Lamjung in a jeep (Ba 6 Cha 756) on Wednesday night when the incident occurred. He was together with his spouse, guide, driver and porter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Davis suddenly fell from the road when he was trying to remove a rock from the road at Khotrodanda of Naso Rural Municipality-3 along the Beshisahar-Chame road section. He fell some 100 meters down onto the Marsyangdi River bank, according to Deputy Superintendent of Police, Phanindra Ranabhat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A police team mobilized from District Police Office, Chame rushed him to District Hospital after rescuing him the same night, but the foreign traveler succumbed to his injuries during treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Davis' body has been sent to TU Teaching Hospital, Kathmandu for postmortem, the police added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18913', 'image' => '20231006011016_manang_july_9_cover_202202261308221689212297_1024.jpg', 'article_date' => '2023-10-06 13:09:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19184', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank Amends Margin Lending Cap of Rs 120 Million', 'sub_title' => '', 'summary' => 'The Nepal Rastra Bank (NRB) has made changes to its Integrated Guidelines for the year 2080 BS. One of the remarkable changes is the removal of the previous upper cap on margin lending, which was set at Rs 120 million. Under the new guidelines, the NRB has increased the limit for margin lending.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: The Nepal Rastra Bank (NRB) has made changes to its Integrated Guidelines for the year 2080 BS. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One of the remarkable changes is the removal of the previous upper cap on margin lending, which was set at Rs 120 million. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Under the new guidelines, the NRB has increased the limit for margin lending.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Individual investors can now avail margin lending up to Rs 150 million, while institutional investors have a higher limit of Rs 200 million.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This means that investors now have more flexibility in borrowing money for investing in the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision to remove the cap on margin lending comes in response to pressure from share market investors who argued that the cap of Rs 120 million on loans against the securities was negatively impacting the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the amended guidelines require commercial banks to maintain a counter cyclical buffer of 0.5 percent by the end of the current fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18912', 'image' => '20231006060613_collage (1).jpg', 'article_date' => '2023-10-06 06:04:48', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19199', 'article_category_id' => '1', 'title' => 'Government to Operate Fair-Price Shops from Today', 'sub_title' => '', 'summary' => 'October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">October 8: The government is all set to operate fair-price shops from today (Sunday) to facilitate the general public during the upcoming festivals of Dashain, Tihar and Chhath.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Such shops selling daily essentials at reasonable prices would be run at various places across the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The state-run Food Management and Trading Company, the Salt Trading Corporation, and the Dairy Development Board will be operating the fair-price outlets till November 19.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The Minister of Industry, Commerce and Supplies (MOICS) informed that the shops would be operated considering the huge demand for daily essentials in the run-up to the festivals. The initiative is also aimed at curbing exorbitant price hikes of goods and providing the essentials to the people in a convenient manner, the ministry added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The fair-price shops are run by the government bodies during the time of festivals to give relief to the public because the private sector has been found charging exorbitant prices especially during the festive season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The government has prepared to set up fair-price shops at 35 different locations in the Kathmandu Valley. The government will be operating mobile shops as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, other districts to have the fair-price outlets are Morang, Jhapa, Taplejung, Sankhuwasabha, Solukhumbu, Diktel, Bhojpur, Okhaldhunga, Khotang, Siraha, Janakpur, Parsa, Lalitpur, Bhaktapur, Kaski, Tanahu, Gorkha, Manang, Mustang, Rupandehi, Banke, Bardiya, Rukum East and Rukum West.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">Similarly, Rolpa, Surkhet, Gulmi, Dailekh, Dolpa, Kalikot, Humla, Jajarkot, Jumla, Mugu, Kailali, Dadeldhura, Bajura, Bajhang, Achham, Darchula and Kanchanpur will also have fair-price outlets. The Food Management and Trading Company will open fair-price shops at 48 places of 42 districts, according to MOICS Spokesperson Sharmila Neupane.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Calibri","sans-serif"">The stalls will provide a discount of Rs 7 per kg of all sorts of rice, pulses, flour, and wheat, while the consumers will get Rs 10 off per kg of meat.</span></span> -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18927', 'image' => '20231008091445_20231007100031_20220919031638_20201123043159_92926.jpg', 'article_date' => '2023-10-08 09:13:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19198', 'article_category_id' => '1', 'title' => 'Revenue Collection From Birgunj Customs Office Down', 'sub_title' => '', 'summary' => 'The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The revenue collection from the Birgunj Customs Office, which contributes more than 43% to the national revenue, has been decreasing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first month of the current fiscal year, the office collected revenue that was 24% less than the target, and in the second month of current FY, it was 35% less than the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For the month of Shrawan, the Department of Customs had set a revenue collection target of Rs 15.62 billion, but the customs office collected Rs 3.75 billion less than the target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Information Officer of the office, Ramchandra Dhakal, the department had set a revenue collection target of Rs 19.38 billion for Bhadra, but it was able to collect only Rs 12.71 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that the revenue collection is primarily from the import of 20 items, including petroleum products and vehicles, and the revenue from these sources has been declining. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhakal said that revenue collection from the import of the top 20 items witnessed 53% decrease in the first month of current fiscal year compared to the same period last year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, there was a 62% decline in the revenue collection from the import of the top 20 items in the second month in the current fiscal year compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Dhakal said that Birgunj Customs Office collects more than 40% of its revenue from the import of fuel and vehicles and revealed that the revenue collection from both of these sources has decreased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Revenue collection from fuel import via the Birgun Customs Office has decreased by 11% and from the vehicle imports by 10% compared to the last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18926', 'image' => '20231008064331_collage (1).jpg', 'article_date' => '2023-10-08 06:38:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '19197', 'article_category_id' => '1', 'title' => 'Advance Booking of Bus Tickets for Dashain from Monday ', 'sub_title' => '', 'summary' => 'October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Advance booking of bus tickets for the upcoming festival of Dashain will start from this Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government took a decision to this effect following a meeting of all stakeholders including the Ministry of Physical Infrastructure and Transport and the transport entrepreneurs, informed Uddhav Prasad Rijal, director general of the Department of Transport Management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the transport entrepreneurs took the stance to not open the advance bookings unless the transport fare was increased, they later agreed to do so at the existing fare. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18924', 'image' => '20231007100517_ngers of dashain_koteshwor area (2).jpg', 'article_date' => '2023-10-07 22:04:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19195', 'article_category_id' => '1', 'title' => 'Bajhang Records 15 Tremors in Four Days ', 'sub_title' => '', 'summary' => 'October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 7: Bajhang district witnessed two earthquakes – one measuring 5.3 in the Richter scale at 11:45 am and another measuring 4.3 in the Richter scale at 12:32 pm – on Saturday alone. Both had the epicenters in Bajhang. </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"">With the latest jolts, the district has experienced 15 tremors in the last four days. Last Tuesday, an earthquake measuring 6.3 in the Richter scale had jolted the district, according to the Earthquake Monitoring and Researcher Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist Bijay Prasad Koirala informed that the western belt of Nepal had stored huge force causing vulnerability to earthquake. The earthquakes recorded on Saturday are the aftershocks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There has been no major earthquake in the western belt of Nepal since 1505. So, it has stored tremendous force within. The release of the power created with the strike of two plates results in earthquake," he said, adding that such aftershocks would be felt for some more days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further warned of huge earthquake at any time in the future. However, the minor tremors could lessen such chances. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18923', 'image' => '20231007091336_20230329121710_earth.jpg', 'article_date' => '2023-10-07 21:13:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19194', 'article_category_id' => '1', 'title' => 'Karate Player Gurung Secures Silver Medal for Nepal', 'sub_title' => '', 'summary' => 'October 7: Karate player Arika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 7: Karate player Erika Gurung has secured silver medal for Nepal upon reaching the final of women’s 68-kg kumite event of karate in the ongoing 19th Asian Games in Hangzhou, China.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“A historic SILVER MEDAL in Karate at the 19th Asian Games! This achievement marks a new chapter in the legacy of our karate athletes,” the National Sports Council, the apex sports governing body of Nepal, wrote on its Facebook page.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This is the first time that Nepal secured silver medal in individual event in the Asian games in the last 25 years, when Sabita Rajbhandari had bagged the honours in taekwondo for Nepal in 1998. Although Nepal had secured silver medal recently in the Asiad held in Indonesia, it was in group event of paragliding. Besides these three silver medals, Nepal has never secured better results in the Asian Games, which is the biggest sporting event after the Olympics.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Karate player Gurung defeated Yan Kai Ho of Hong Kong in women’s 68-kg category with a score of 8-4 in the semi-finals held earlier on Saturday before being ousted by Sofia Berultseva of Kazakhstan 3-0 to settle for the silver medal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Earlier, in the quarterfinal, Gurung defeated Yujuki Saway of Japan on the basis of golden score. Both of them had secured equal 1-1 point in the match.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">So far, Nepal has won only two medals in the ongoing Asian Games. Earlier on Friday, the women's kabaddi team of Nepal had won a bronze medal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-07', 'modified' => '2023-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '18922', 'image' => '20231007065908_386460379_334193095793622_526801378955242376_n.jpg', 'article_date' => '2023-10-07 18:58:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19193', 'article_category_id' => '1', 'title' => 'Drought caused 'Historic' Global Hydropower Drop in Early 2023 ', 'sub_title' => '', 'summary' => 'October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 6: Dry conditions, particularly in China, caused a "historic" global drop in hydropower generation in the first half of 2023, a new analysis shows, highlighting the effects of climate change. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The research by renewable energy think tank Ember argues the drop is a "warning shot that hydro output could negatively affect the speed of the electricity transition". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The group said global hydropower generation fell 8.5 percent in the year to June, more than any full-year decline over the last two decades. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three-quarters of that decline was the result of falls in China, which baked through record temperatures earlier this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Between winter 2022 and spring 2023, most areas of southwest China experienced significantly less precipitation and higher temperatures than in a normal year, according to Beijing's ministry of emergency management. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The fall in hydropower output meant global carbon emissions rose very slightly in the first half of 2023, despite a 12-percent increase in solar and wind power worldwide. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lower growth in electricity demand helped keep the rise in emissions smaller than it might otherwise have been, Ember said in the report released Thursday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China, however, saw its emissions rise nearly eight percent as it compensated for the loss of hydropower. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But while the extreme heat and drought conditions that caused this year's decline may have been driven by climate change, the think tank warned it remains hard to calculate future effects. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The consequences of "climate change on hydro potential are geographically varied", the group noted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Changes in rainfall patterns and intensity as well as increased evaporation will affect hydro output both positively and negatively depending on the region." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Some parts of central Africa, India, central Asia and northern high latitudes could see their potential to generate hydropower increase. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But in southern Europe, the southern United States and elsewhere, it is likely to weaken. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And the International Energy Agency last month projected fossil fuel demand will peak by 2030. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But wind and solar generation grew more slowly in the first half of this year than in the same period last year, reflecting the fragility of gains in the sector. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"While it is encouraging to see the remarkable growth of wind and solar energy, we can't ignore the stark reality of adverse hydro conditions intensified by climate change," said Malgorzata Wiatros-Motyka, Ember's senior electricity analyst. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The world is teetering at the peak of power sector emissions, and we now need to unleash the momentum for a rapid decline in fossil fuels by securing a global agreement to triple renewable capacity this decade." – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18921', 'image' => '20231006065639_20150823012330_ep1.jpg', 'article_date' => '2023-10-06 18:56:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19191', 'article_category_id' => '1', 'title' => 'Nine Committees Suggest Reforms of NAC, None Implemented so Far', 'sub_title' => '', 'summary' => 'October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind.', '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"">October 6: A report along with recommendations submitted by the 'Structural and Managerial Study and Recommendation Committee of Nepal Airlines Corporation' formed under the chairmanship of Nepal Rastra Bank's former Governor Dipendra Bahadur Chhetri, is the ninth of its kind. </span></span></span></span></p> <p><span style="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 Ministry of Culture, Tourism and Civil Aviation has already received the report of seven such committees, sub-committees, task forces and one report from the International Civil Aviation Organization (ICAO) for the reforms of the flag carrier 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"">However, all those suggestions are gathering dust in the drawers of the ministry. There has been no improvement in the structural and managerial condition of the corporation. The government’s negligence has made it challenging for NAC to survive in the competitive market of airline industry. Passengers are in a dilemma whether to take the service of state-owned Nepal Airlines Corporation or not due to problems with the engine and other glithes during NAC flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the latest example of the poor quality of NAC’s service, a plane flying from Kathmandu to Dammam in Saudi Arabia encountered a problem at 12:14 AM on Wednesday night, and had to be diverted to Kathmandu from Pakistani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Amid recurring problems occurring during flights and maintenance of the aircraft not being carried out on time, none of the suggestions received for improvement of the NCA have been implemented so far. The number of flights and destinations of the Nepal Airlines, which is operating both domestic and international flights, has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee formed under the chairmanship of former governor Chhetri submitted a report with suggestions to the Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, on Sunday.</span></span></span></span></p> <p><span style="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 report, the NAC, which flew to 39 domestic destinations in the year 2050, currently flies to a total of 19 destinations. International destinations have also decreased. The corporation, which expanded its service to 13 international destinations in 2050, now flies only to 9 destinations. The NAC, which had 19 aircraft in the year 2050, currently has one twin-otter for domestic flights and four large aircraft operating internationally. The rest of the aircraft have been grounded.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During this period, the NAC’s competitiveness in the market has declined due to the entry of private airline companies and the addition of foreign airlines in international flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders say that the NAC has not been able to make progress due to non-implementation of the suggestions given to improve the state-owned airline company, which is losing market share in internal and external destinations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Committees, sub-committees and task forces formed several times have given various suggestions to transform the NAC into a profitable, reliable, and safe airline company. The practice of forming one after another committee or task force without implementing the suggestions shows that the ministry is not serious about the managerial and structural reforms of the NAC. Rather, there is a suspicion that such working groups, committees or sub-committees are formed only to provide employment to their people.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On August 7, 2019, the then Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai had formed a similar committee. The coordinator and former secretary of the committee, Sushil Ghimire, says that there is no point forming new committees if the government is not interested in implementing the suggestions given by such committees.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The government’s failure to implement the suggestions so far is the lack of commitment to reform the NAC," Ghimire 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"">Former Secretary Shankar Prasad Adhikari says that there is a trend of making reports and not taking any decision once the repot is prepared. "This trend should be stopped and a decision should be taken at the political level," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The chairman of the latest committee, former governor Chettri, expressed confidence that the government will implement the suggestions made by the committee. "If the NAC is to be bailed out from the current situation, there is no alternative than to implementing the suggestion," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">When New Business Age inquired about the implementation status of the latest report with Bharatmani Subedi, secretary at the ministry, he refused to comment saying, "The report is on the website of the ministry, we will talk about the implementation later." The ministry had published the report on its official website on Wednesday.</span></span></span></span></p> <p><span style="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 report has suggested that the corporation should be converted into a company. Since the report prepared by former Chief Secretary Damodar Gautam on January 2, 2002, it has been suggested to convert the NAC into a company. The latest report also suggested that it should be privatized and converted into a public company, and strategic partners should be invited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Widebody aircraft operating in losses</span></span></strong></span></span></p> <p><span style="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 report states that even after six years of operating the widebody-A330 aircraft purchased by the NAC, it has not been able to earn profit. The two widebody aircraft purchased by the NAC started flying from the financial year (2074/75). As the expenses are more than the income of those aircraft with 274 seat capacity, the NAC is consistently losing money while operating those two aircraft.</span></span></span></span></p> <p><span style="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 report, as of last April, NAC earned Rs 7.70 billion from these two aircraft while the expenditure stood at Rs 10.98 billion. Due to this, the corporation suffered a loss of Rs 3.28 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18920', 'image' => '20231006022011_naccccc.jpg', 'article_date' => '2023-10-06 14:19:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19192', 'article_category_id' => '1', 'title' => 'Dues of Previous Fiscal Year Will Be Cleared Before Dashain: Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While talking to mediapersons in Chitwan, Minister Mahat said the government has already disbursed approximately Rs 60-70 billion towards these outstanding dues, with around Rs 6-7 billion remaining to be paid. Minister Mahat assured that these remaining payments would be completed prior to Dashain.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While acknowledging that there are economic challenges, Minister Mahat emphasized that the severity of the crisis is not as pronounced as some people claim. He pointed out that part of the problem stems from the improper utilization of loans extended by the Rastra Bank.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Minister Mahat, loans from banks were easily accessible and often invested without careful consideration of their potential returns, leading to the current economic repercussions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He also noted that the strict monetary policy has contributed to an increase in interest rates, causing some entrepreneurs to face difficulties.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In response to these challenges, the government is actively working to strengthen the foundation of the economy, added Minister Mahat.</span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18919', 'image' => '20231006040438_collage (14).jpg', 'article_date' => '2023-10-06 16:03:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19190', 'article_category_id' => '1', 'title' => 'Light Rainfall Likely Today in Eastern and Central Nepal', 'sub_title' => '', 'summary' => 'October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The country is witnessing cloudy weather and rainfall due to the influence of the low-pressure area developed over the Bay of Bengal and Jharkhand area of India at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the weather in Koshi Province, Madhes Province, Bagmati Province and Gandaki Province has remained partly to generally cloudy while rainfall is taking place at one or two places in Koshi, Bagmati and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Koshi, Madhes, Bagmati and Gandaki provinces would remain partly to generally cloudy in the afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall has been forecast at few places of Koshi, Bagmati and Gandaki provinces while light rainfall along with lightning and thunder is forecast at one or two places of the remaining provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, there is a possibility of light rainfall with thunder and lightning at few places of Koshi, Bagmati and Gandaki provinces tonight. </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"">The monsoon, which entered Nepal on June 14 this year, was expected to withdraw on October 2 but it has been delayed by a few more days. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18918', 'image' => '20231006012531_weatherrr - Copy.jpg', 'article_date' => '2023-10-06 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19188', 'article_category_id' => '1', 'title' => 'IMF reaches Staff-Level Agreement to Review Extended Credit Facility ', 'sub_title' => '', 'summary' => 'October 6: Government authorities of Nepal and the International Monetary Fund (IMF) team have reached a staff-level agreement for the disbursement of about $51.3 million under the Extended Credit Facility (ECF) arrangement. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Government authorities of Nepal and the International Monetary Fund (IMF) team have reached a staff-level agreement for the disbursement of about $51.3 million under the Extended Credit Facility (ECF) arrangement. The third review of the agreement is subject to approval by the IMF’s Executive Board, according to a press release issued by IMF on October 5. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s external position has strengthened, supported by prudent fiscal and monetary policies, buoyant remittances, and increasing tourism activity. Following a slowdown last year, growth is projected to recover to 3.5 percent in FY 2023/24, but to remain below potential, reflecting weak domestic demand, the IMF statement said adding inflation is declining but is still elevated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It further stated that necessary balance sheet repairs have been limiting credit growth in spite of monetary relaxation. Reforms under the ECF aim to generate more stable, pro-growth credit while maintaining price and external stability. Accelerating the planned increase in capital spending, as envisaged in the budget, will help boost demand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The IMF acknowledged that the government authorities of Nepal are diligently making progress to improve AML/CFT, including enacting amendments of AML laws to bring them in line with international standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The press statement was released upon the conclusion of IMF team visit led by Tidiane Kinda from September 21 to October 5. The team held discussions on the policies and reforms that could lead to the completion of the third review of the economic programme supported by the IMF’s ECF. At the end of the mission, Kinda issued statement asserting that Nepal continues to make progress with the implementation of the ECF-supported program. </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"">“On the fiscal front, important achievements by the Ministry of Finance include the formulation of a fiscal risk register, the publication of the non-custom tax exemptions, and the implementation of a cash flow forecasting framework, all reforms aimed at strengthening transparency of public finances and further enhancing fiscal management," the press stated quoted Kinda as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ECF is a scheme that provides financial assistance to countries with protracted balance of payments problems. It supports countries’ economic programs aimed at moving toward a stable and sustainable macroeconomic position consistent with strong and durable poverty reduction and growth. It is also expected to help catalyze additional foreign aid. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18917', 'image' => '20231006125525_20220426051733_imf.jpg', 'article_date' => '2023-10-06 12:54:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19187', 'article_category_id' => '1', 'title' => 'Nepal Secures First Medal in 19th Asian Games', 'sub_title' => '', 'summary' => 'October 6: Nepal has finally succeeded in winning a medal in the ongoing 19th Asian Games in Hangzhou, China. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Nepal has finally succeeded in winning a medal in the ongoing 19th Asian Games in Hangzhou, China. Nepal received a bronze medal in women’s kabaddi event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal secured a bronze medal in the event after being defeated by India 61-17 in the semifinal. </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"">Nepal had entered semifinal as a first runner up of Group 'B'. Similarly, India had entered seminal as the winner of Group 'A'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All four teams playing the seminal in kabaddi were assured of medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It was the first time Nepal participated in the Asian Games under women’s kabaddi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Group 'B' has Iran and Bangladesh as well. As a winner of Group 'B', Iran got entry to the semifinal and is playing against first runner up of Group 'A', Chinese Taipei. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The players in the Nepali team were Menuka Kumari Rajbanshi (captain), Manmati Bista, Jayanti Badu, Sunita Thapa, Rabina Chaudhari, Anuja Kulung Rai, Ganga Rai, Nitu Gurung, Isha Rai, Arpana Chaudhari, Sirjana Tharu and Kalawati Pant. Team instructor is Bishnu Datt Bhatta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18916', 'image' => '20231006120602_a.jpg', 'article_date' => '2023-10-06 12:05:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19186', 'article_category_id' => '1', 'title' => 'Two more Earthquakes Jolt Bajhang', 'sub_title' => '', 'summary' => 'October 6: Two more earthquakes were felt last night (Thursday) with epicenters at Chainpur of Bajhang district in Sudurpaschim Province. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Two more earthquakes were felt last night (Thursday) with epicenters at Chainpur of Bajhang district in Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Centre, Lainchaur informed that the earthquakes – one measuring 4.3 in the Richter scale and another measuring 3.9 in the Richter scale – were recorded at 10:52 pm and 12:23 am last night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The centre further informed that on Tuesday afternoon an earthquake measuring 5.3 in the Richter scale had occurred in Bajhang with its epicenter at Talkot. On the same day, a 6.3 Richter scale quake jolted the district at 3:06 pm. It was followed by 4.1 Richter scale tremor at 3:45 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A person died while a dozen others were injured in the earthquake. Similarly, hundreds of houses were damaged in the quake. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Geologist at the Centre, Dr Lok Bijay Adhikari, informed that the western belt of Nepal is vulnerable to earthquake anytime. "For 500 years, Nepal's western region has not seen any noticeable earthquake. So the tremors felt in recent times in this region is a wake-up call." -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18915', 'image' => '20231006112012_20230620111902_earth.jpg', 'article_date' => '2023-10-06 11:19:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19185', 'article_category_id' => '1', 'title' => 'Japan Extends Grant to Improve Dhulikhel Hospital Trauma and Emergency Centre ', 'sub_title' => '', 'summary' => 'October 5: The Government of Nepal and the Government of Japan on Tursday signed agreement for utilizing the grant assistance of JPY 3,296 million (approximately NPR 2.95 billion) for the implementation of the ‘Project for the Improvement of Dhulikhel Hospital’s Trauma and Emergency Center’. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Government of Nepal and the Government of Japan on Tursday signed agreement for utilizing the grant assistance of JPY 3,296 million (approximately NPR 2.95 billion) for the implementation of the ‘Project for the Improvement of Dhulikhel Hospital’s Trauma and Emergency Center’. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Dr Krishna Hari Pushkar and Japanese Ambassador to Nepal Kikuta Yutaka exchanged the notes on behalf of their respective governments, reads a press release issued by the Ministry of Finance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the grant agreement was signed by Shreekrishna Nepal, joint secretary at the International Economic Cooperation Coordination Division of the Ministry of Finance and Okubo Akimitsu, chief representative of JICA Nepal Office on behalf of GON and JICA respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project aims to strengthen medical services for the rapidly growing number of trauma and emergency patients in Nepal by constructing a trauma and emergency center including emergency rooms, operating rooms, an ICU, and outpatient consultation rooms and providing medical equipment such as MRI, CT, C-arm, and X-ray machines, high steam sterilizers, etc at Dhulikhel Hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project implementation period is 48 months and the proposed assistance will be mobilized through the Ministry of Health and Population as a conditional grant, reads the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I would like to thank the Government of Japan for its continuous support in strengthening the health sector of Nepal. This project will be instrumental in catering to the emergency services especially to the patients of Dhulikhel and nearby places,” said Finance Secretary, Dr Krishna Hari Pushkar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I hope that the project will contribute to ensuring the healthy lives and promoting the welfare of Nepali people, thereby promoting the self-sustaining development of Nepal. I am confident that the objectives of the project will be achieved, thereby further strengthening the existing cordial relationship of friendship and cooperation between the peoples of Japan and Nepal,” stated Kikuta Yutaka, ambassador of Japan to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal, the number of trauma and emergency patients is increasing due to frequent disasters, public health emergencies, traffic accidents caused by increased traffic volume, and strokes and heart diseases caused by dietary changes associated with economic development. Therefore, it is urgent and important to increase the number of hospital beds and introduce necessary medical equipment, added the statement. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18914', 'image' => '20231006105840_duli.jpg', 'article_date' => '2023-10-06 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19189', 'article_category_id' => '1', 'title' => 'US National Dies after Falling off a Cliff ', 'sub_title' => '', 'summary' => 'October 6: A US citizen has died after falling off cliff while visiting Manang, a mountainous district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: A US citizen has died after falling off cliff while visiting Manang, a mountainous district. The victim has been identified as 69-year-old Charles Keith Davis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was traveling to Chame from Lamjung in a jeep (Ba 6 Cha 756) on Wednesday night when the incident occurred. He was together with his spouse, guide, driver and porter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Davis suddenly fell from the road when he was trying to remove a rock from the road at Khotrodanda of Naso Rural Municipality-3 along the Beshisahar-Chame road section. He fell some 100 meters down onto the Marsyangdi River bank, according to Deputy Superintendent of Police, Phanindra Ranabhat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A police team mobilized from District Police Office, Chame rushed him to District Hospital after rescuing him the same night, but the foreign traveler succumbed to his injuries during treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Davis' body has been sent to TU Teaching Hospital, Kathmandu for postmortem, the police added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18913', 'image' => '20231006011016_manang_july_9_cover_202202261308221689212297_1024.jpg', 'article_date' => '2023-10-06 13:09:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19184', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank Amends Margin Lending Cap of Rs 120 Million', 'sub_title' => '', 'summary' => 'The Nepal Rastra Bank (NRB) has made changes to its Integrated Guidelines for the year 2080 BS. One of the remarkable changes is the removal of the previous upper cap on margin lending, which was set at Rs 120 million. Under the new guidelines, the NRB has increased the limit for margin lending.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 6: The Nepal Rastra Bank (NRB) has made changes to its Integrated Guidelines for the year 2080 BS. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One of the remarkable changes is the removal of the previous upper cap on margin lending, which was set at Rs 120 million. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Under the new guidelines, the NRB has increased the limit for margin lending.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Individual investors can now avail margin lending up to Rs 150 million, while institutional investors have a higher limit of Rs 200 million.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This means that investors now have more flexibility in borrowing money for investing in the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision to remove the cap on margin lending comes in response to pressure from share market investors who argued that the cap of Rs 120 million on loans against the securities was negatively impacting the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the amended guidelines require commercial banks to maintain a counter cyclical buffer of 0.5 percent by the end of the current fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2023-10-06', 'modified' => '2023-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '18912', 'image' => '20231006060613_collage (1).jpg', 'article_date' => '2023-10-06 06:04:48', '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
