September 18: Consumers of Kathmandu, who are forced to pay as much as Rs 135 for one kilogram of sugar, may not believe that they can get that much sugar for just Rs 70 in the border area markets including Birgunj.…
September 18: Consumers of Kathmandu, who are forced to pay as much as Rs 135 for one kilogram of sugar, may not believe that they can get that much sugar for just Rs 70 in the border area markets including Birgunj.…
September 18: Spark Car, a rental car service provider, has announced to organize a Wild Stay with Chauri under the Spark Adventure 2023 in Sailung, a picturesque area in Dolakha with high potential for…
September 18: Esewa Money Transfer, one of the leading digital remittance company of Nepal operating under the stewardship of fintech company F1Soft Group, has announced to continue its initiative “Mero Digital Desh” in order to promote formal remittance and make people aware of the advantages of sending money through digital…
September 17: The country’s current account remained at a surplus of Rs 12.99 billion in the first month of the current fiscal year against a deficit of Rs 15.13 billion in the same period of the previous…
September 18: Devotees are thronging temples across the country including the Pashupatinath Temple in the federal capital on the occasion of Haritalika Teej…
September 18: Nepal’s trade deficit decreased 0.7 percent to Rs 115.71 billion during the first month of the current fiscal year (FY 2023/24), according to the latest report of Nepal Rastra…
The Karnali province government has announced its plan to provide 17 different types of subsidies this year in an effort to support and motivate farmers within the…
In the first month of the current fiscal year of 2023/2024, the deposit collection of banks and financial institutions decreased by 2.3 percent, and the loan flow dipped by 0.1…
September 17: The year-on-year (y-o-y) consumer price inflation in Nepal stood at 7.52 percent in mid-August 2023 compared to 8.26 percent a year…
September 17: The Council of Ministers on September 15 decided to accept USD 6 million in concessional loan from the World Bank (WB) for prefeasibility study of the Upper Arun Hydropower…
September 17: A joint market monitoring team in Lalitpur has fined Bhatbhateni store at Pulchok for selling date-expired…
September 17: Ncell on Sunday observed its 18th anniversary, marking 18 years of togetherness and a remarkable journey of serving Nepal with world-class telecommunications services with a local touch, enhancing connectivity, and enriching the lives of Nepali…
September 17: The inflow of remittance into Nepal in the first month of the current fiscal year increased by 25.8 percent compared to an increase of 20.3 percent in the same period of the previous…
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September 17: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has said that SEBON is preparing to review the brokers’ commission.…
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 18: Consumers of Kathmandu, who are forced to pay as much as Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">135</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for one kilogram of sugar, may not believe that they can get that much sugar for just Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">in the border area markets including Birgunj. How can they believe when the factory price of the sugar produced in the domestic market has now reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg. Traders said that some industrialists even charge up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">115</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg.</span></span></span></span></p> <p><span style="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 traders say that adding the rent and their profit, the price of sugar in the main cities including Kathmandu will reach around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. On the other hand, consumers in the border areas are buying sugar at much less price thanks to the illegally imported sugar from India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sugar produced in the domestic industry of Nepal is not sold in the border areas with India because the traders are selling sugar smuggled from India at a cheaper price. Sugar produced in the country is sold in areas other than the Terai," said Rajesh Kedia, owner of Indushankar Sugar Industry.</span></span></span></span></p> <p><span style="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 retail price of sugar in the Indian market is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg (INR </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40). </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">carriers" charge Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kilo and brings it to the Nepali market in border areas. Smuggled sugar has reached even Kathmandu, Pokhara, Hetaunda and other cities and rural areas.</span></span></span></span></p> <p><span style="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 smugglers are believed to deliver illegally imported sugar to different cities in coordination with the security personnel posted in the border areas. Sugar imported from India at throw-away price is sold at high rates in p laces other than the border areas.</span></span></span></span></p> <p><span style="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 domestic production of Nepal cannot meet the demand for sugar in the country. According to the Sugar Producers Association, the domestic sugar industries produced </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">176,500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of sugar by crushing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">188</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million quintals of sugarcane in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. The domestic market demand is around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons. India has banned the export of sugar. The Government of Nepal has not imported sugar for two years. Taking advantage of this opportunity, sugar illegally imported from India is being sold at high prices in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The operators of Indushankar Sugar Industry say that the price of a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg sack of sugar is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,500.</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this calculation, the maximum price of one kg of sugar is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">110</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the Department of Commerce, Supply and Consumer Protection made it mandatory to keep the price on the label, the industries have started writing the maximum price on the bag since last month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kedia says that if the department monitors on the basis of these prices, then the black marketing of sugar will be controlled. He claimed that the industry takes only the factory price, which is around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kilo. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We are eager to know who benefits from the inflated price. But all the blame is put on our heads as if we are responsible for the price hike,” said Kedia.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Only recently, the Ministry of Finance has given permission to the Salt Trading Corporation and the Food Management and Trading Company to import subsidized sugar at the rate of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons each. However, even if import of sugar is allowed targeting major festivals like Dashain, Tihar and Chhath, there is no possibility of sugar arriving before Dashain as there is only about one month left for Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no uniformity in the price of sugar in Kathmandu. According to the information given by the Retail Trade Association, the retail price of sugar in Kathmandu is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">130</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg. However, it has been found that it differs from one shop to another.</span></span></span></span></p> <p><span style="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 Thapathali, Bagbazar, Putlisadak, Babarmahal and Baneshwar areas of Kathmandu, the price of sugar ranges from Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">110</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">135</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. Consumers complain that when they go to buy sugar, most of the shops return the consumers empty-handed saying that they do not have sugar, and some of them do not sell even though they have sugar. Kishore Malla, who came to buy sugar at a shop in Putlisadak on Sunday, complained that he could not get sugar easily in the market. He said that he had to visit five to six shops to buy a kilogram of sugar.</span></span></span></span></p> <p><span style="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 Department of Commerce, Supply and Consumer Protection, which is tasked with market monitoring, has expressed its helplessness regarding the arbitrary price of sugar in the market ahead of the major festivals. The department admitted that it could not increase market monitoring due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Acting Director General of the Department, Anand Pokharel, admitted that the lack of monitoring has increased the morale of businessmen.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Market monitoring has not been effective due to the lack of coordination between the local government, the state government and the district administration office. Taking advantage of this situation, the traders might have increased the price arbitrarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the Industry and Commerce and Labor and Consumer Affairs Committee of the Parliament has instructed the Ministry of Finance to provide tax and customs exemptions on sugar imports. A meeting of the committee on Sunday instructed the ministry to give consent for the import of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of sugar demanded by the Ministry of Industry, Commerce and Supplies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the committee, Abdul Khan, informed that the government has been instructed to ease the supply arrangements and distribute sugar at subsidized prices by controlling prices and discouraging 'carteling' to prevent shortage of essential commodities such as sugar, rice, and wheat during the upcoming festivals. </span></span></span></span></p> <p><span style="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 meeting instructed the Ministry of Industry to make the monitoring effective with adequate manpower and resources and to prevent irregular activities such as adulteration, artificial shortage, black marketing, hoarding, and unnatural price hike.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18756', 'image' => '20230918024452_sugar.jpg', 'article_date' => '2023-09-18 14:43:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19026', 'article_category_id' => '1', 'title' => 'Spark Car to Organise 'Wild Stay with Chaunri' in Sailung', 'sub_title' => '', 'summary' => 'September 18: Spark Car, a rental car service provider, has announced to organize a Wild Stay with Chauri under the Spark Adventure 2023 in Sailung, a picturesque area in Dolakha with high potential for tourism.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">September 18: Spark Car, a rental car service provider, has announced to organize a Wild Stay with Chauri under the Spark Adventure 2023 in Sailung, a picturesque area in Dolakha with high potential for tourism.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Last year, the first edition of Spark Adventure was conducted in Bhujung, Lamjung, by harvesting bee honey. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The program coordinator Amardeep Bhattarai informed that the second edition is being organized with a focus on Sailung on the border of Dolakha and Ramechhap to promote tourism.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Coordinator Bhattarai announced the participation of various celebrities including Captain Vijay Lama and singer Yash Kumar as well as administrative officials, and security agency personnel in the Spark Adventure, scheduled to be held from September 28 to 30.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, this adventure is ideal for those who seek to explore domestic tourism, spend a night in the forest with yaks, immerse themselves in local culture, relish delicious cuisine, and discover picturesque rural destinations.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The registration fee to participate in the program is Rs 30,000.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18755', 'image' => '20230918013152_Spark_car.jpg', 'article_date' => '2023-09-18 13:31:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19025', 'article_category_id' => '1', 'title' => 'Esewa Money Transfer to Continues its ‘Mero Digital Desh’ Initiative ', 'sub_title' => '', 'summary' => 'September 18: Esewa Money Transfer, one of the leading digital remittance company of Nepal operating under the stewardship of fintech company F1Soft Group, has announced to continue its initiative “Mero Digital Desh” in order to promote formal remittance and make people aware of the advantages of sending money through digital channels. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 18: Esewa Money Transfer, one of the leading digital remittance company of Nepal operating under the stewardship of fintech company F1Soft Group, has announced to continue its initiative “Mero Digital Desh” in order to promote formal remittance and make people aware of the advantages of sending money through digital channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Under this initiative, eSewa has launched ‘Win Your Dream Home’ campaign starting from September 18 September. The 10-month campaign will end on 16 July 2024, reads a statement issued by eSewa Money Transfer. According to the company, Nepalese nationals working and residing in any country across the world can be a part of this campaign by sending remittances directly to the eSewa wallet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Esewa Money Transfer signed an agreement with eSewa in this regard. As per the company, each month, one lucky winner will receive twice the amount they initially sent as remittance. Additionally, four individuals will be given special prizes throughout the campaign, and ultimately, one lucky winner will get a brand-new house in Kathmandu as the bumper prize. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking about the initiative, Subash Sharma, director of F1Soft Group, said, "This initiative symbolizes our appreciation for the dedication and sacrifices made by Nepalese individuals employed overseas. The ultimate aspiration for every Nepalese working abroad is to build a house in Kathmandu. And, through this campaign, we will be able to fulfill the dream of at least one person.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Daniel D Shrestha, group strategy director of F1Soft Group, emphasized the significant contribution of Esewa Money Transfer for economic development since its inception. He added that the main motive of this initiative is to keep the money sent through remittance, circulated in the digital ecosystem. He shared the examples of foreign reserves crisis seen in south Asian countries like Sri Lanka and Pakistan where informal remittances had posed a great challenge. Shrestha stressed the need to consistently educate and aware the Nepali community regarding the importance of formal and digital remittance as it has multiple benefits for the economy both in short term and long term.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Jagdish Khadka, CEO of eSewa stated that this initiative will enable individuals to transfer funds from overseas to Nepal in a matter of minutes, revolutionizing the remittance process. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“We firmly believe that this innovative undertaking will bring about a positive transformation in the country's economy and elevate the quality and reliability of remittance services.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal’s legendary cine artist Rajesh Hamal is promoting the campaign in national and international awareness events related to digital remittance. Also, popular actress Swastima Khadka is set to remain an essential part of numerous promotional activities as part of this initiative, the company said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18754', 'image' => '20230918123327_PR Photo .jpg', 'article_date' => '2023-09-18 12:32:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19024', 'article_category_id' => '1', 'title' => 'Current Account and Balance of Payments in Surplus', 'sub_title' => '', 'summary' => 'September 17: The country’s current account remained at a surplus of Rs 12.99 billion in the first month of the current fiscal year against a deficit of Rs 15.13 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px">September 17: The country’s current account remained at a surplus of Rs 12.99 billion in the first month of the current fiscal year against a deficit of Rs 15.13 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">According to the Current Macroeconomic and Financial Situation Report of Nepal published by the Nepal Rastra Bank (NRB), the current account in terms of US dollar registered a surplus of 98.5 million in the review period against a deficit of 118.8 million in the same period last year.</span></p> <p><span style="font-size:18px">In the review period, capital transfer decreased 65.9 percent to Rs 272.6 million and net foreign direct investment (FDI) remained a positive of Rs 2.65 billion. In the same period of the previous year, capital transfer amounted to Rs 800.3 million and the net FDI amounted to a negative of Rs 1.40 billion, added the report.</span></p> <p><span style="font-size:18px">According to the central bank, Balance of Payments (BOP) remained at a surplus of Rs 32.90 billion in the review period against a deficit of Rs 19.76 billion in the same period of the previous year. In the US Dollar terms, the BOP remained at a surplus of 249.5 million in the review period against a deficit of 155.2 million in the same period of the previous year.</span></p> <p><span style="font-size:18px">Similarly, the gross foreign exchange reserves increased 2.2 percent to Rs 1573.12 billion in mid-August 2023 from Rs 1539.36 billion in mid-July 2023. In the US dollar terms, the gross foreign exchange reserves increased 1.2 percent to 11.85 billion in mid-August 2023 from 11.71 billion in mid-July 2023. Of the total foreign exchange reserves, reserves held by NRB increased 2.9 percent to Rs 1385.24 billion in mid-August 2023 from Rs 1345.78 billion in mid-July 2023, added the latest report.</span></p> <p><span style="font-size:18px">Similarly, the reserves held by banks and financial institutions (except NRB) decreased 2.9 percent to Rs 187.89 billion in mid-August 2023 from Rs 193.59 billion in mid-July 2023. The share of Indian currency in total reserves stood at 21.9 percent in mid-August 2023.</span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18753', 'image' => '20230918114232_20230917100940_20230509025612_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-09-18 11:40:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19023', 'article_category_id' => '1', 'title' => 'Devotees Throng Shiva Temples on the Occasion of Teej Festival', 'sub_title' => '', 'summary' => 'September 18: Devotees are thronging temples across the country including the Pashupatinath Temple in the federal capital on the occasion of Haritalika Teej festival. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 18: Devotees are thronging temples across the country including the Pashupatinath Temple in the federal capital on the occasion of Haritalika Teej festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All four doors of the Pashupatinath temple were opened at 3:00 am early this morning for the devotees coming to pay obeisance to Lord Shiva marking the Teej festival, said head of Culture Preservation Division of Pashupati Area Development Trust, Gaurishankar Parajuli. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Four queues have been arranged for the devotees coming to the Pashupatinath temple. Only women devotees were allowed to enter the main temple of Pashupatinath after 6:00 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to PADT, security arrangements have been made in coordination with all the four security agencies on the temple premises. Services such as health camps, free water distribution, search and rescue centers have also been arranged in Pashupati area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Kathmandu valley, devotees have been gathering at temples in Gokarneshwar, Doleshwar, Nageshwar, Basantpur and the Makhan Mahadev Temple, known as small Pashupatinath Temple. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18752', 'image' => '20230918111753_HB_KTM-_IMG_1689.jpg', 'article_date' => '2023-09-18 11:17:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19022', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Declines Marginally', 'sub_title' => '', 'summary' => 'September 18: Nepal’s trade deficit decreased 0.7 percent to Rs 115.71 billion during the first month of the current fiscal year (FY 2023/24), according to the latest report of Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px">September 18: Nepal’s trade deficit decreased 0.7 percent to Rs 115.71 billion during the first month of the current fiscal year (FY 2023/24), according to the latest report of Nepal Rastra Bank.</span></p> <p><span style="font-size:18px">The Current Macroeconomic and Financial Situation Report published by NRB on Sunday states that such a deficit had decreased 10.4 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">The report added that the export-import ratio decreased to 10.5 percent in the review period from 11.3 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">During the first month of FY 2023/24, merchandise exports decreased 8.7 percent to Rs 13.53 billion compared to a decrease of 28.7 percent in the same period of the previous year.</span></p> <p><span style="font-size:18px">Destination-wise, exports to India decreased 20.8 percent whereas exports to China and other countries increased 527.2 percent and 15.4 percent respectively.</span></p> <p><span style="font-size:18px">Exports of cardamom, zinc sheet, particle board, juice, ginger, among others increased whereas exports of palm oil, soybean oil, medicine (Ayurvedic), pashmina, silverware and jewelries, among others decreased in the review period.</span></p> <p><span style="font-size:18px">During the first month of FY 2023/24, merchandise imports decreased 1.6 percent to Rs 129.24 billion compared to a decrease of 12.9 percent a year ago.</span></p> <p><span style="font-size:18px">Destination-wise, imports from India and China increased 3.3 percent and 17.0 percent respectively while imports from other countries decreased 23.1 percent. Imports of rice, paddy, MS wire rod, bars, coils, chemical fertilizer, hot rolled sheet in coil, electrical goods, among others increased whereas imports of petroleum products, crude soybean oil, crude palm oil, medicine, MS billet, among others decreased in the review period.</span></p> <p><span style="font-size:18px">Based on customs points, exports from Bhairahawa, Dry Port, Jaleswar, Kanchanpur, Krishnagar, Mechi, Nepalgunj, Rasuwa and Tribhuwan International Airport customs offices increased whereas exports from all the other major customs points decreased in the review period.</span></p> <p><span style="font-size:18px">On the import side, imports from Bhairahawa, Dry Port, Jaleshwar, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period.</span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18751', 'image' => '20230918104033_20230917100315_20220712103532_Trade.jpg', 'article_date' => '2023-09-18 10:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19021', 'article_category_id' => '1', 'title' => 'Karnali Government to Offer 17 Types of Subsidies to Farmers', 'sub_title' => '', 'summary' => 'The Karnali province government has announced its plan to provide 17 different types of subsidies this year in an effort to support and motivate farmers within the province.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">September 18: The Karnali province government has announced its plan to provide 17 different types of subsidies this year in an effort to support and motivate farmers within the province. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">These subsidies will be distributed as part of the approved program for the current fiscal year, 2080-81.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">According to the provincial Directorate of Agriculture, these subsidies are open for application to farmers involved in agricultural business groups, agricultural cooperatives, entrepreneurs, and private firms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">The directorate has emphasized that agricultural subsidies will be specifically targeted towards Dalit women and individuals belonging to backward classes as part of the income generation program.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">The subsidies will include a range of initiatives, including support for income-generating programs for people with disabilities, promotion of pulse crop cultivation, and the distribution of advanced seeds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Chitra Bahadur Rokaya, Acting Director of the Directorate, highlighted that subsidies will also be extended to food crop seed production, beekeeping, tea cultivation, and the advancement of commercial agro businesses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Furthermore, the directorate intends to provide subsidies for land rent and electricity tariffs. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Rokaya elaborated that support will also be allocated for the selection, training, and engagement of agricultural technicians.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">To be eligible for these subsidies, interested parties must meet specific criteria outlined in a notice issued by the directorate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">This includes providing official registration details of their organizations and firms, as well as details about their agricultural business schedules and other requisite documentation. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18750', 'image' => '20230918065412_collage (1).jpg', 'article_date' => '2023-09-18 06:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19020', 'article_category_id' => '1', 'title' => 'Deposit Collection Drops by 2.3%; Credit Flow Falls by 0.1%', 'sub_title' => '', 'summary' => 'In the first month of the current fiscal year of 2023/2024, the deposit collection of banks and financial institutions decreased by 2.3 percent, and the loan flow dipped by 0.1 percent.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 18: In the first month of the current fiscal year of 2023/2024, the deposit collection of banks and financial institutions decreased by 2.3 percent, and the loan flow dipped by 0.1 percent. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The report published by Nepal Rastra Bank on the Macroeconomic and Financial Conditions on Sunday showed the fall of deposit collection and loan disbursement in the first month of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On year on year basis(y-o-y), the growth rate of deposits is 11.9 percent, and the growth rate of loans disbursed in the private sector is reported to be 3.8 percent, according to the central bank.</span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18749', 'image' => '20230918063918_collage.jpg', 'article_date' => '2023-09-18 06:36:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19019', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Drops in First Month of Current FY', 'sub_title' => '', 'summary' => 'September 17: The year-on-year (y-o-y) consumer price inflation in Nepal stood at 7.52 percent in mid-August 2023 compared to 8.26 percent a year ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 17: The year-on-year (y-o-y) consumer price inflation in Nepal stood at 7.52 percent in mid-August 2023 compared to 8.26 percent a year ago.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), food and beverage inflation stood at 8.95 percent whereas non-food and service inflation stood at 6.42 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 45.56 percent, cereal grains and their products 13.20 percent, milk products and eggs 12.19 percent, restaurant and hotel 11.05 percent and vegetable 10.80 percent while the y-o-y price index of ghee and oil sub-category decreased 15.13 percent, states the Current Macroeconomic and Financial Situation Report published by NRB on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, y-o-y price index of recreation and culture sub-category increased 15.55 percent, education 9.10 percent, housing and utilities 6.93 percent and furnishing and household equipment 6.79 percent while y-o-y price index of transportation sub-category decreased 0.81 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, y-o-y consumer price inflation in the Kathmandu Valley, Terai, hill and mountain regions stood at 8.50 percent, 6.70 percent, 7.50 percent and 11.46 percent respectively. Inflation in these regions were 7.39 percent, 8.72 percent, 8.64 percent and 6.64 percent respectively a year ago.</span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18748', 'image' => '20230917101520_20230710030747_Inflation1.jpg', 'article_date' => '2023-09-17 22:14:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19015', 'article_category_id' => '1', 'title' => 'Cabinet Accepts USD 6 Million in Loan for Prefeasibility Study of Upper Arun Project ', 'sub_title' => '', 'summary' => 'September 17: The Council of Ministers on September 15 decided to accept USD 6 million in concessional loan from the World Bank (WB) for prefeasibility study of the Upper Arun Hydropower Project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 17: The Council of Ministers on September 15 decided to accept USD 6 million in concessional loan from the World Bank (WB) for prefeasibility study of the Upper Arun Hydropower Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing the media about the cabinet meeting's decisions, Minister for Communications and Information Technology and government spokesperson Rekha Sharma said a decision has also been taken to submit the BIMSTEC Charter to the Federal Parliament for its ratification. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Cabinet meeting also decided to form a five-member committee on tax system reforms under the leadership of former minister Bidhyadhar Mallik. The government had made such announcement through the budget speech of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Baburam Panta has been appointed the Chairman of Industrial District Management Limited, added Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to ease the supply of sugar by giving customs duty exemption in view of the upcoming festive season. The Council of Ministers also decided to allow the Salt Trading Corporation and Food Management and Trading Company Limited to import 10,000 metric tonnes of sugar each by waiving 50 per cent of the customs tariffs, according to Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the cabinet meeting decided to put on hold the distribution of decorations and medals for some time. The Council of Ministers has decided to form a taskforce mandated to submit a report within three months by carrying out studies on different international practices on decorations and medal distributions to establish its pride and institutionalize the nation's dignity. The standards for the distribution of decorations and medals would be prepared based on the recommendations of the taskforce and the distribution of the medals to be given away by the president on the occasion of the Constitution Day would be postponed until the standards are prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Irrigation Policy- 2080 and Nepali Citizenship (Third Amendment) Regulation-2080 has been approved by the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Cabinet meeting has entrusted the Division Forest Office with the responsibility of management of Jatamasi plant (Spikenard). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Permission has been granted to use a total of nine hectare of national forest area at ward no 5 of Bagmati Rural Municipality in Makawanpur district and ward no 6 of Mahankal Rural Municipality in Lalitpur district for the construction of infrastructures related to the Super Lower Bagmati Hydro Power Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government granted permission to the Nepali delegation led by the Minister for Finance to participate in the annual meetings of the World Bank Group and International Monetary Fund to be held in Morocco. Approval has also been granted to the Minister for Youth and Sports and the Sports Secretary to participate in the 19th Asian Games to be held in Hangzhou City, China. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18744', 'image' => '20230917095501_20230306031824_Clipboard32.jpg', 'article_date' => '2023-09-17 21:54:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19014', 'article_category_id' => '1', 'title' => 'Bhatbhateni Store at Pulchok Fined Rs 100,000 for Selling Date-Expired Food Stuffs ', 'sub_title' => '', 'summary' => 'September 17: A joint market monitoring team in Lalitpur has fined Bhatbhateni store at Pulchok for selling date-expired food.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 17: A joint market monitoring team in Lalitpur has fined Bhatbhateni store at Pulchok for selling date-expired food. The team comprising Assistant Chief District Officer Amar Dip Sunuwar conducted the monitoring of several stores including Bhatbhateni, Bigmart and Saleways. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant CDO Sunuwar informed that Bhatbhateni store was found selling date-expired food items such as ghee and eggs. So, it was fined Rs 100,000. Similarly, Big Mart was found selling green vegetables by manipulating weighing tool. It was subjected to a fine of Rs 10,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further informed that the market monitoring was initiated in the wake of upcoming festivals. He warned that action would be taken against anyone involved in jeopardizing public health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sub-standard food items confiscated from Bhatbhateni store were disposed by the monitoring team, according to Sanjay Thapa, inspector at Small and Cottage Office, Lalitpur. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18743', 'image' => '20230917094720_70027991_vEcSy_alynxIkBYBzePg6MHnzrco-ZR2tzsSlQOvi8o.jpg', 'article_date' => '2023-09-17 21:46:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19013', 'article_category_id' => '1', 'title' => 'Ncell Celebrates its 18th Anniversary in Line with Theme 'Here for You'', 'sub_title' => '', 'summary' => 'September 17: Ncell on Sunday observed its 18th anniversary, marking 18 years of togetherness and a remarkable journey of serving Nepal with world-class telecommunications services with a local touch, enhancing connectivity, and enriching the lives of Nepali communities.', 'content' => '<p><span style="font-size:18px">September 17: Ncell on Sunday observed its 18th anniversary, marking 18 years of togetherness and a remarkable journey of serving Nepal with world-class telecommunications services with a local touch, enhancing connectivity, and enriching the lives of Nepali communities.<br /> Issuing a statement, Ncell said the company embarked on its humble journey on this day on September 17, 2005, and since then, it has been providing essential communication services, revolutionising the telecommunications industry in Nepal. Starting with reliable basic mobile services and evolving into innovative communication solutions to meet various communication needs of consumers, among other offerings, Ncell has been a beacon of progress in Nepal, added the statement.<br /> Sharing his excitement, Chief Executive Officer and Managing Director of Ncell, Jabbor Kayumov, said, “We are proud to be an integral part of over 16 million Nepalese customers of Nepal. Ncell is always here for Nepal and Nepali people, and now we are even more committed to continuing to address the needs of the country. To bring solutions that ease access to things that are difficult to get for the majority of Nepalis will be our vision. Ncell is Here for You and we are committed to many more years of togetherness.”<br /> As Ncell embarks on its new journey, it has expressed its long-term commitment to keeping its customers always connected. In line with its brand promise, ‘Today. Tomorrow. Together.’, Ncell announced the theme 'Here for You'. Under this theme, Ncell has announced a series of activities, collaborations, and programmes aimed at driving social causes and creating a meaningful impact at the community level in Nepal.<br /> On the occasion, Ncell has launched a new campaign, 'Every Customer is a Winner,' through which all Ncell customers starting September 17 receive surprise loyalty gifts for 28 days as part of the extended celebrations. In this campaign, customers who dial *17117# are eligible to get daily, weekly and bumper gifts. In daily gifts, customers get Ncell products and services without any charge. According to the company, 1000 Ncell customers will get Rs 100 balance weekly and at the end of the campaign, seven lucky customers will get 7 scooters. To be eligible to get weekly and bumper gifts, customers should have used Ncell services during the campaign period and need to send a creative slogan about Ncell or with Ncell on Ncell App or website. <br /> Under its Corporate Social Responsibility (CSR), Ncell announced its strategic partnership with the National Paralympic Committee (NPC) Nepal, in which the company will support Paralympic national players who will be representing Nepal in national and international games. As per this partnership, Ncell pledged to extend its support for ensuring the overall training and development of the national players along with their required diet and nutrition around the year. </span></p> <p><span style="font-size:18px">In its ongoing commitment to supporting the government in achieving the Sustainable Development Goals (SDGs), Ncell has prioritised CSR efforts. Over the last 18 years, the company claimed it has contributed over Rs 1.80 billion to various social causes, with a focus on areas such as education, environment, and health, among others. As one of the largest taxpayers, Ncell said it paid Rs 283 billion in taxes and fees to the government since its inception, making a significant contribution to Nepal's economy.</span></p> <p><span style="font-size:18px">“Ncell's services have not only ensured access to telecommunications services but have also played a pivotal role in the socio-economic development of the country, becoming a key enabler of the country's information and communication technology (ICT) ecosystem,” reads the statement, adding, “Some of the major milestones in Ncell's journey include easy, affordable access to mobile connections, the launch of 3G and mobile broadband Ncell Connect, innovative voice and data packs, a flat call rate of Rs. 1.99 across the country, 4G, Ncell for Business (N4B), local call rates to India, the US, and Canada, easy roaming for travelers, Ncell Saapati, and free Twitter and Wiki, all of which have transformed telecommunications in Nepal.”</span></p> <p><span style="font-size:18px">To further enhance transparency and accessibility, Ncell’s CEO has announced opening of Instagram account, allowing the general public to connect with the CEO directly. Ncell also opened the CEO's email, ceo@ncell.axiaa.com, to the general public, encouraging people to contact the CEO directly regarding any matters that require attention. <br /> “We are the first corporate house in Nepal to reach out directly to our customers and provide access to our CEO directly,” Jabbor said, adding, “Customers can reach out to me directly, and our team will ensure that we report back to our customers, contributing to building a culture of trust and transparency to enhance the customer experience.”</span></p> <p><span style="font-size:18px">With an intent to reach and connect with local people of Nepal from all the Provinces, Ncell called applications from organizations (Not for Profit) for the implementation of the projects in their community that provide local solutions to local problems. The seed fund for such community projects is Rs 1 million for each project in one community with primary focus on education and health and other areas being environment, disaster response and livelihood support programs. The eligibility criteria and process for applying for the funding is available in detail on Ncell’s website.</span></p> <p><span style="font-size:18px">In alignment with the theme 'Here for You', several other activities and events are planned for Ncell's 18th anniversary celebration. These include Health Camps in areas with low human development indices, blood donation drives, tree planting initiatives, friendly football matches at Lainchaur Ground, visits by celebrities to Ncell Centres to interact with customers, among other events, added the statement. <br /> On Sunday, September 17, members of the Executive Management Team (EMT) visited Ncell Centres and Points of Sale in different parts of the country to interact with customers and personally thank them for their love and continued support.</span></p> <p><span style="font-size:18px"> </span><br /> </p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18742', 'image' => '20230917074229_CDR65392.jpg', 'article_date' => '2023-09-17 19:41:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19012', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases by 25 Percent in First Month of Current FY', 'sub_title' => '', 'summary' => 'September 17: The inflow of remittance into Nepal in the first month of the current fiscal year increased by 25.8 percent compared to an increase of 20.3 percent in the same period of the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 17: The inflow of remittance into Nepal in the first month of the current fiscal year increased by 25.8 percent compared to an increase of 20.3 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Current Macroeconomic and Financial Situation Report published by Nepal Rastra Bank (NRB) on Sunday, the remittance inflow between mid-July and mid-August in the current fiscal year stood at Rs 116.02 billion</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of the US dollar, remittance inflow increased 21.5 percent to 879.8 million in the review period compared to an increase of 12.5 percent in the same period of the previous year, reads the NRB report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the number of Nepali workers (institutional and individual) taking new approval for foreign employment decreased 12.1 percent to 39,152 in the review period. The number of Nepali workers renewing their work permits for foreign employment decreased 19.5 percent to 16,423 in the review period. It had increased 75.4 percent in the same period of the previous year, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the net transfer increased 26.1 percent to Rs 128.21 billion in the review period. Such a transfer had increased 18.4 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18741', 'image' => '20230917061139_Remittance.jpg', 'article_date' => '2023-09-17 18:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19011', 'article_category_id' => '1', 'title' => 'Microfinance Companies Struggling to Recover Debts', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px">September 17: Microfinance companies have been providing loans against collateral as well as collateral-free loans by forming groups of poor and underprivileged people. The microfinance companies are currently struggling to recover their loans.</span></p> <p><span style="font-size:18px">Due to the decline in economic activities, the ability of the borrowers to pay their debts has decreased, while the non-payment movement has caused problems in debt recovery.</span></p> <p><span style="font-size:18px">The debt recovery has been affected due to the fact that the same person has been taking loans from more than one organization and investing in non-productive sectors.</span></p> <p><span style="font-size:18px">As the loan recovery has been affected, the bad loans of microfinance companies have increased significantly. According to the data of Nepal Rastra Bank, the average bad loans of microfinance companies was 2.97 percent in June 2021. By March 2022, bad loans reached 7.43 percent. Although the official data has not been published, it is estimated that the bad loans of microfinance companies have reached about 10 percent in June 2023.</span></p> <p><span style="font-size:18px">The Nepal Rastra Bank in June issued instructions and extended the deadline of repayment of loans of the customers who could not pay their loans to the microfinance companies by one year.</span></p> <p><span style="font-size:18px">The central bank had made an arrangement to restructure the loans for the active borrowers of microfinance companies, allowing them to pay a minimum interest amount of 5 percent of the outstanding interest to reschedule the loan.</span></p> <p><span style="font-size:18px">Janadarn Dev Pant, chief executive officer of Nirdhan Utthan Lagubitta Bittiya Sansthan, says that if the rescheduling facility is not provided, the ratio of bad loans of microfinance companies will double.</span></p> <p><span style="font-size:18px">"The concession given by the central bank has made it easier for microfinance companies to manage bad loans," he said.</span></p> <p><span style="font-size:18px">As of March last year, there were 5.99 customers of 63 microfinance companies, and the number of borrowers stood at 3.1 million. Microfinance institutions have invested a total of Rs 441 billion in loans.</span></p> <p><span style="font-size:18px">The central bank had formed a task force under the coordination of the Executive Director of the Economic Research Department of NRB, Dr Prakash Kumar Shrestha in the month of Shrawn (mid-July to mid-August) after the members of microfinance companies protested saying that they were suffering from the operators of microfinance companies. </span></p> <p><span style="font-size:18px">Although the task force has submitted a preliminary report, it is working with a deadline extension till mid-September.</span></p> <p><span style="font-size:18px">Lately, the microfinance companies have not been strict in debt recovery due to the customers’ agitation. Microfinance institutions have not carried out activities such as putting unnecessary pressure on those who do not pay their loans.</span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18740', 'image' => '20230917053953_Bad Loan.jpg', 'article_date' => '2023-09-17 17:38:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19010', 'article_category_id' => '1', 'title' => 'Securities Board to Review Brokers’ Commission', 'sub_title' => '', 'summary' => 'September 17: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has said that SEBON is preparing to review the brokers’ commission. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 17: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has said that SEBON is preparing to review the brokers’ commission. He also said that the broker commission will be reviewed in such a way that the securities broker companies will not suffer. Speaking at an interaction program on Capital Market: Possibilities and Challenges held in Kathmandu on Friday, Chairman Hamal said that broker companies are the heart of the capital market and that the commission will be reviewed in a way that they will not suffer. He also mentioned that the board's commission will be reduced before the broker's commission is reduced.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal said that SEBON is going to review the brokers’ commission keeping in mind the interests of the common investors. Hamal informed that he has discussed the matter of reducing broker commission in depth with the broker companies and expressed his commitment that the commission will be reviewed so that no one in the market is be at a loss.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal opposed the 10-share policy in the initial public offering (IPO). Hamal also pointed out the need to strengthen the positive aspects of this policy and to review the negative aspects.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He has accepted that the capital market has reached many investors due to the 10 per cent policy. Hamal said that in the future, the board will give priority to raising institutional investors in the securities market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal also informed that the study committee formed by the board on the issue of allowing non-resident Nepalis to enter the securities market has already prepared the necessary report and the necessary law-making work is underway. Informing that the board is preparing to implement a new system for the right shares, Hamal said that the qualifications of independent directors of listed companies will also be determined.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In response to the question of whether the board can take action against the companies whose share prices in the secondary market have dropped below the premium price, Mukti Shrestha, the executive chairman of the board, said that although the board will approve good companies to issue IPOs at a premium price, the board will not force investors to buy shares of those companies. Shrestha believes that the investors themselves should take responsibility for the risk in the secondary market from the decision to purchase the IPO.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">While the board is saying that it is studying the matter of reducing the broker commission, the representatives of the broker companies have requested not to reduce it. Chairman of Stock Brokers Association Dharmaraj Sapkota and Secretary General of Securities Stock Brokers Association Krishna Giri said that the brokers are running at a loss in the current situation and requested not to review the commission.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">General Secretary Giri suggested that when new broker companies have just entered the securities market, they should be evaluated for a few years first.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">President Sapkota said that in the case of old broker companies, there are some technical difficulties in providing margin loans and the board should solve those difficulties.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18739', 'image' => '20230917044613_Sebon-update.jpg', 'article_date' => '2023-09-17 16:45:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19027', 'article_category_id' => '1', 'title' => 'Illegally-Imported Sugar worth Rs 64 Per Kg being Sold at Rs 135 in Kathmandu', 'sub_title' => '', 'summary' => 'September 18: Consumers of Kathmandu, who are forced to pay as much as Rs 135 for one kilogram of sugar, may not believe that they can get that much sugar for just Rs 70 in the border area markets including Birgunj. ', '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"">September 18: Consumers of Kathmandu, who are forced to pay as much as Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">135</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for one kilogram of sugar, may not believe that they can get that much sugar for just Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">in the border area markets including Birgunj. How can they believe when the factory price of the sugar produced in the domestic market has now reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg. Traders said that some industrialists even charge up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">115</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg.</span></span></span></span></p> <p><span style="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 traders say that adding the rent and their profit, the price of sugar in the main cities including Kathmandu will reach around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. On the other hand, consumers in the border areas are buying sugar at much less price thanks to the illegally imported sugar from India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sugar produced in the domestic industry of Nepal is not sold in the border areas with India because the traders are selling sugar smuggled from India at a cheaper price. Sugar produced in the country is sold in areas other than the Terai," said Rajesh Kedia, owner of Indushankar Sugar Industry.</span></span></span></span></p> <p><span style="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 retail price of sugar in the Indian market is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg (INR </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40). </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">carriers" charge Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kilo and brings it to the Nepali market in border areas. Smuggled sugar has reached even Kathmandu, Pokhara, Hetaunda and other cities and rural areas.</span></span></span></span></p> <p><span style="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 smugglers are believed to deliver illegally imported sugar to different cities in coordination with the security personnel posted in the border areas. Sugar imported from India at throw-away price is sold at high rates in p laces other than the border areas.</span></span></span></span></p> <p><span style="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 domestic production of Nepal cannot meet the demand for sugar in the country. According to the Sugar Producers Association, the domestic sugar industries produced </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">176,500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of sugar by crushing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">188</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million quintals of sugarcane in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. The domestic market demand is around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons. India has banned the export of sugar. The Government of Nepal has not imported sugar for two years. Taking advantage of this opportunity, sugar illegally imported from India is being sold at high prices in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The operators of Indushankar Sugar Industry say that the price of a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg sack of sugar is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,500.</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this calculation, the maximum price of one kg of sugar is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">110</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the Department of Commerce, Supply and Consumer Protection made it mandatory to keep the price on the label, the industries have started writing the maximum price on the bag since last month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kedia says that if the department monitors on the basis of these prices, then the black marketing of sugar will be controlled. He claimed that the industry takes only the factory price, which is around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kilo. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We are eager to know who benefits from the inflated price. But all the blame is put on our heads as if we are responsible for the price hike,” said Kedia.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Only recently, the Ministry of Finance has given permission to the Salt Trading Corporation and the Food Management and Trading Company to import subsidized sugar at the rate of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons each. However, even if import of sugar is allowed targeting major festivals like Dashain, Tihar and Chhath, there is no possibility of sugar arriving before Dashain as there is only about one month left for Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no uniformity in the price of sugar in Kathmandu. According to the information given by the Retail Trade Association, the retail price of sugar in Kathmandu is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">130</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg. However, it has been found that it differs from one shop to another.</span></span></span></span></p> <p><span style="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 Thapathali, Bagbazar, Putlisadak, Babarmahal and Baneshwar areas of Kathmandu, the price of sugar ranges from Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">110</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">135</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. Consumers complain that when they go to buy sugar, most of the shops return the consumers empty-handed saying that they do not have sugar, and some of them do not sell even though they have sugar. Kishore Malla, who came to buy sugar at a shop in Putlisadak on Sunday, complained that he could not get sugar easily in the market. He said that he had to visit five to six shops to buy a kilogram of sugar.</span></span></span></span></p> <p><span style="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 Department of Commerce, Supply and Consumer Protection, which is tasked with market monitoring, has expressed its helplessness regarding the arbitrary price of sugar in the market ahead of the major festivals. The department admitted that it could not increase market monitoring due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Acting Director General of the Department, Anand Pokharel, admitted that the lack of monitoring has increased the morale of businessmen.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Market monitoring has not been effective due to the lack of coordination between the local government, the state government and the district administration office. Taking advantage of this situation, the traders might have increased the price arbitrarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the Industry and Commerce and Labor and Consumer Affairs Committee of the Parliament has instructed the Ministry of Finance to provide tax and customs exemptions on sugar imports. A meeting of the committee on Sunday instructed the ministry to give consent for the import of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of sugar demanded by the Ministry of Industry, Commerce and Supplies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the committee, Abdul Khan, informed that the government has been instructed to ease the supply arrangements and distribute sugar at subsidized prices by controlling prices and discouraging 'carteling' to prevent shortage of essential commodities such as sugar, rice, and wheat during the upcoming festivals. </span></span></span></span></p> <p><span style="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 meeting instructed the Ministry of Industry to make the monitoring effective with adequate manpower and resources and to prevent irregular activities such as adulteration, artificial shortage, black marketing, hoarding, and unnatural price hike.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18756', 'image' => '20230918024452_sugar.jpg', 'article_date' => '2023-09-18 14:43:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19026', 'article_category_id' => '1', 'title' => 'Spark Car to Organise 'Wild Stay with Chaunri' in Sailung', 'sub_title' => '', 'summary' => 'September 18: Spark Car, a rental car service provider, has announced to organize a Wild Stay with Chauri under the Spark Adventure 2023 in Sailung, a picturesque area in Dolakha with high potential for tourism.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">September 18: Spark Car, a rental car service provider, has announced to organize a Wild Stay with Chauri under the Spark Adventure 2023 in Sailung, a picturesque area in Dolakha with high potential for tourism.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Last year, the first edition of Spark Adventure was conducted in Bhujung, Lamjung, by harvesting bee honey. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The program coordinator Amardeep Bhattarai informed that the second edition is being organized with a focus on Sailung on the border of Dolakha and Ramechhap to promote tourism.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Coordinator Bhattarai announced the participation of various celebrities including Captain Vijay Lama and singer Yash Kumar as well as administrative officials, and security agency personnel in the Spark Adventure, scheduled to be held from September 28 to 30.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, this adventure is ideal for those who seek to explore domestic tourism, spend a night in the forest with yaks, immerse themselves in local culture, relish delicious cuisine, and discover picturesque rural destinations.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The registration fee to participate in the program is Rs 30,000.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18755', 'image' => '20230918013152_Spark_car.jpg', 'article_date' => '2023-09-18 13:31:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19025', 'article_category_id' => '1', 'title' => 'Esewa Money Transfer to Continues its ‘Mero Digital Desh’ Initiative ', 'sub_title' => '', 'summary' => 'September 18: Esewa Money Transfer, one of the leading digital remittance company of Nepal operating under the stewardship of fintech company F1Soft Group, has announced to continue its initiative “Mero Digital Desh” in order to promote formal remittance and make people aware of the advantages of sending money through digital channels. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 18: Esewa Money Transfer, one of the leading digital remittance company of Nepal operating under the stewardship of fintech company F1Soft Group, has announced to continue its initiative “Mero Digital Desh” in order to promote formal remittance and make people aware of the advantages of sending money through digital channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Under this initiative, eSewa has launched ‘Win Your Dream Home’ campaign starting from September 18 September. The 10-month campaign will end on 16 July 2024, reads a statement issued by eSewa Money Transfer. According to the company, Nepalese nationals working and residing in any country across the world can be a part of this campaign by sending remittances directly to the eSewa wallet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Esewa Money Transfer signed an agreement with eSewa in this regard. As per the company, each month, one lucky winner will receive twice the amount they initially sent as remittance. Additionally, four individuals will be given special prizes throughout the campaign, and ultimately, one lucky winner will get a brand-new house in Kathmandu as the bumper prize. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking about the initiative, Subash Sharma, director of F1Soft Group, said, "This initiative symbolizes our appreciation for the dedication and sacrifices made by Nepalese individuals employed overseas. The ultimate aspiration for every Nepalese working abroad is to build a house in Kathmandu. And, through this campaign, we will be able to fulfill the dream of at least one person.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Daniel D Shrestha, group strategy director of F1Soft Group, emphasized the significant contribution of Esewa Money Transfer for economic development since its inception. He added that the main motive of this initiative is to keep the money sent through remittance, circulated in the digital ecosystem. He shared the examples of foreign reserves crisis seen in south Asian countries like Sri Lanka and Pakistan where informal remittances had posed a great challenge. Shrestha stressed the need to consistently educate and aware the Nepali community regarding the importance of formal and digital remittance as it has multiple benefits for the economy both in short term and long term.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Jagdish Khadka, CEO of eSewa stated that this initiative will enable individuals to transfer funds from overseas to Nepal in a matter of minutes, revolutionizing the remittance process. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“We firmly believe that this innovative undertaking will bring about a positive transformation in the country's economy and elevate the quality and reliability of remittance services.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal’s legendary cine artist Rajesh Hamal is promoting the campaign in national and international awareness events related to digital remittance. Also, popular actress Swastima Khadka is set to remain an essential part of numerous promotional activities as part of this initiative, the company said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18754', 'image' => '20230918123327_PR Photo .jpg', 'article_date' => '2023-09-18 12:32:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19024', 'article_category_id' => '1', 'title' => 'Current Account and Balance of Payments in Surplus', 'sub_title' => '', 'summary' => 'September 17: The country’s current account remained at a surplus of Rs 12.99 billion in the first month of the current fiscal year against a deficit of Rs 15.13 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px">September 17: The country’s current account remained at a surplus of Rs 12.99 billion in the first month of the current fiscal year against a deficit of Rs 15.13 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">According to the Current Macroeconomic and Financial Situation Report of Nepal published by the Nepal Rastra Bank (NRB), the current account in terms of US dollar registered a surplus of 98.5 million in the review period against a deficit of 118.8 million in the same period last year.</span></p> <p><span style="font-size:18px">In the review period, capital transfer decreased 65.9 percent to Rs 272.6 million and net foreign direct investment (FDI) remained a positive of Rs 2.65 billion. In the same period of the previous year, capital transfer amounted to Rs 800.3 million and the net FDI amounted to a negative of Rs 1.40 billion, added the report.</span></p> <p><span style="font-size:18px">According to the central bank, Balance of Payments (BOP) remained at a surplus of Rs 32.90 billion in the review period against a deficit of Rs 19.76 billion in the same period of the previous year. In the US Dollar terms, the BOP remained at a surplus of 249.5 million in the review period against a deficit of 155.2 million in the same period of the previous year.</span></p> <p><span style="font-size:18px">Similarly, the gross foreign exchange reserves increased 2.2 percent to Rs 1573.12 billion in mid-August 2023 from Rs 1539.36 billion in mid-July 2023. In the US dollar terms, the gross foreign exchange reserves increased 1.2 percent to 11.85 billion in mid-August 2023 from 11.71 billion in mid-July 2023. Of the total foreign exchange reserves, reserves held by NRB increased 2.9 percent to Rs 1385.24 billion in mid-August 2023 from Rs 1345.78 billion in mid-July 2023, added the latest report.</span></p> <p><span style="font-size:18px">Similarly, the reserves held by banks and financial institutions (except NRB) decreased 2.9 percent to Rs 187.89 billion in mid-August 2023 from Rs 193.59 billion in mid-July 2023. The share of Indian currency in total reserves stood at 21.9 percent in mid-August 2023.</span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18753', 'image' => '20230918114232_20230917100940_20230509025612_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-09-18 11:40:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19023', 'article_category_id' => '1', 'title' => 'Devotees Throng Shiva Temples on the Occasion of Teej Festival', 'sub_title' => '', 'summary' => 'September 18: Devotees are thronging temples across the country including the Pashupatinath Temple in the federal capital on the occasion of Haritalika Teej festival. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 18: Devotees are thronging temples across the country including the Pashupatinath Temple in the federal capital on the occasion of Haritalika Teej festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All four doors of the Pashupatinath temple were opened at 3:00 am early this morning for the devotees coming to pay obeisance to Lord Shiva marking the Teej festival, said head of Culture Preservation Division of Pashupati Area Development Trust, Gaurishankar Parajuli. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Four queues have been arranged for the devotees coming to the Pashupatinath temple. Only women devotees were allowed to enter the main temple of Pashupatinath after 6:00 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to PADT, security arrangements have been made in coordination with all the four security agencies on the temple premises. Services such as health camps, free water distribution, search and rescue centers have also been arranged in Pashupati area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Kathmandu valley, devotees have been gathering at temples in Gokarneshwar, Doleshwar, Nageshwar, Basantpur and the Makhan Mahadev Temple, known as small Pashupatinath Temple. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18752', 'image' => '20230918111753_HB_KTM-_IMG_1689.jpg', 'article_date' => '2023-09-18 11:17:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19022', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Declines Marginally', 'sub_title' => '', 'summary' => 'September 18: Nepal’s trade deficit decreased 0.7 percent to Rs 115.71 billion during the first month of the current fiscal year (FY 2023/24), according to the latest report of Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px">September 18: Nepal’s trade deficit decreased 0.7 percent to Rs 115.71 billion during the first month of the current fiscal year (FY 2023/24), according to the latest report of Nepal Rastra Bank.</span></p> <p><span style="font-size:18px">The Current Macroeconomic and Financial Situation Report published by NRB on Sunday states that such a deficit had decreased 10.4 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">The report added that the export-import ratio decreased to 10.5 percent in the review period from 11.3 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">During the first month of FY 2023/24, merchandise exports decreased 8.7 percent to Rs 13.53 billion compared to a decrease of 28.7 percent in the same period of the previous year.</span></p> <p><span style="font-size:18px">Destination-wise, exports to India decreased 20.8 percent whereas exports to China and other countries increased 527.2 percent and 15.4 percent respectively.</span></p> <p><span style="font-size:18px">Exports of cardamom, zinc sheet, particle board, juice, ginger, among others increased whereas exports of palm oil, soybean oil, medicine (Ayurvedic), pashmina, silverware and jewelries, among others decreased in the review period.</span></p> <p><span style="font-size:18px">During the first month of FY 2023/24, merchandise imports decreased 1.6 percent to Rs 129.24 billion compared to a decrease of 12.9 percent a year ago.</span></p> <p><span style="font-size:18px">Destination-wise, imports from India and China increased 3.3 percent and 17.0 percent respectively while imports from other countries decreased 23.1 percent. Imports of rice, paddy, MS wire rod, bars, coils, chemical fertilizer, hot rolled sheet in coil, electrical goods, among others increased whereas imports of petroleum products, crude soybean oil, crude palm oil, medicine, MS billet, among others decreased in the review period.</span></p> <p><span style="font-size:18px">Based on customs points, exports from Bhairahawa, Dry Port, Jaleswar, Kanchanpur, Krishnagar, Mechi, Nepalgunj, Rasuwa and Tribhuwan International Airport customs offices increased whereas exports from all the other major customs points decreased in the review period.</span></p> <p><span style="font-size:18px">On the import side, imports from Bhairahawa, Dry Port, Jaleshwar, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period.</span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18751', 'image' => '20230918104033_20230917100315_20220712103532_Trade.jpg', 'article_date' => '2023-09-18 10:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19021', 'article_category_id' => '1', 'title' => 'Karnali Government to Offer 17 Types of Subsidies to Farmers', 'sub_title' => '', 'summary' => 'The Karnali province government has announced its plan to provide 17 different types of subsidies this year in an effort to support and motivate farmers within the province.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">September 18: The Karnali province government has announced its plan to provide 17 different types of subsidies this year in an effort to support and motivate farmers within the province. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">These subsidies will be distributed as part of the approved program for the current fiscal year, 2080-81.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">According to the provincial Directorate of Agriculture, these subsidies are open for application to farmers involved in agricultural business groups, agricultural cooperatives, entrepreneurs, and private firms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">The directorate has emphasized that agricultural subsidies will be specifically targeted towards Dalit women and individuals belonging to backward classes as part of the income generation program.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">The subsidies will include a range of initiatives, including support for income-generating programs for people with disabilities, promotion of pulse crop cultivation, and the distribution of advanced seeds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Chitra Bahadur Rokaya, Acting Director of the Directorate, highlighted that subsidies will also be extended to food crop seed production, beekeeping, tea cultivation, and the advancement of commercial agro businesses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Furthermore, the directorate intends to provide subsidies for land rent and electricity tariffs. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Rokaya elaborated that support will also be allocated for the selection, training, and engagement of agricultural technicians.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">To be eligible for these subsidies, interested parties must meet specific criteria outlined in a notice issued by the directorate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">This includes providing official registration details of their organizations and firms, as well as details about their agricultural business schedules and other requisite documentation. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18750', 'image' => '20230918065412_collage (1).jpg', 'article_date' => '2023-09-18 06:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19020', 'article_category_id' => '1', 'title' => 'Deposit Collection Drops by 2.3%; Credit Flow Falls by 0.1%', 'sub_title' => '', 'summary' => 'In the first month of the current fiscal year of 2023/2024, the deposit collection of banks and financial institutions decreased by 2.3 percent, and the loan flow dipped by 0.1 percent.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 18: In the first month of the current fiscal year of 2023/2024, the deposit collection of banks and financial institutions decreased by 2.3 percent, and the loan flow dipped by 0.1 percent. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The report published by Nepal Rastra Bank on the Macroeconomic and Financial Conditions on Sunday showed the fall of deposit collection and loan disbursement in the first month of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On year on year basis(y-o-y), the growth rate of deposits is 11.9 percent, and the growth rate of loans disbursed in the private sector is reported to be 3.8 percent, according to the central bank.</span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18749', 'image' => '20230918063918_collage.jpg', 'article_date' => '2023-09-18 06:36:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19019', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Drops in First Month of Current FY', 'sub_title' => '', 'summary' => 'September 17: The year-on-year (y-o-y) consumer price inflation in Nepal stood at 7.52 percent in mid-August 2023 compared to 8.26 percent a year ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 17: The year-on-year (y-o-y) consumer price inflation in Nepal stood at 7.52 percent in mid-August 2023 compared to 8.26 percent a year ago.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), food and beverage inflation stood at 8.95 percent whereas non-food and service inflation stood at 6.42 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 45.56 percent, cereal grains and their products 13.20 percent, milk products and eggs 12.19 percent, restaurant and hotel 11.05 percent and vegetable 10.80 percent while the y-o-y price index of ghee and oil sub-category decreased 15.13 percent, states the Current Macroeconomic and Financial Situation Report published by NRB on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, y-o-y price index of recreation and culture sub-category increased 15.55 percent, education 9.10 percent, housing and utilities 6.93 percent and furnishing and household equipment 6.79 percent while y-o-y price index of transportation sub-category decreased 0.81 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, y-o-y consumer price inflation in the Kathmandu Valley, Terai, hill and mountain regions stood at 8.50 percent, 6.70 percent, 7.50 percent and 11.46 percent respectively. Inflation in these regions were 7.39 percent, 8.72 percent, 8.64 percent and 6.64 percent respectively a year ago.</span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18748', 'image' => '20230917101520_20230710030747_Inflation1.jpg', 'article_date' => '2023-09-17 22:14:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19015', 'article_category_id' => '1', 'title' => 'Cabinet Accepts USD 6 Million in Loan for Prefeasibility Study of Upper Arun Project ', 'sub_title' => '', 'summary' => 'September 17: The Council of Ministers on September 15 decided to accept USD 6 million in concessional loan from the World Bank (WB) for prefeasibility study of the Upper Arun Hydropower Project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 17: The Council of Ministers on September 15 decided to accept USD 6 million in concessional loan from the World Bank (WB) for prefeasibility study of the Upper Arun Hydropower Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing the media about the cabinet meeting's decisions, Minister for Communications and Information Technology and government spokesperson Rekha Sharma said a decision has also been taken to submit the BIMSTEC Charter to the Federal Parliament for its ratification. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Cabinet meeting also decided to form a five-member committee on tax system reforms under the leadership of former minister Bidhyadhar Mallik. The government had made such announcement through the budget speech of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Baburam Panta has been appointed the Chairman of Industrial District Management Limited, added Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to ease the supply of sugar by giving customs duty exemption in view of the upcoming festive season. The Council of Ministers also decided to allow the Salt Trading Corporation and Food Management and Trading Company Limited to import 10,000 metric tonnes of sugar each by waiving 50 per cent of the customs tariffs, according to Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the cabinet meeting decided to put on hold the distribution of decorations and medals for some time. The Council of Ministers has decided to form a taskforce mandated to submit a report within three months by carrying out studies on different international practices on decorations and medal distributions to establish its pride and institutionalize the nation's dignity. The standards for the distribution of decorations and medals would be prepared based on the recommendations of the taskforce and the distribution of the medals to be given away by the president on the occasion of the Constitution Day would be postponed until the standards are prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Irrigation Policy- 2080 and Nepali Citizenship (Third Amendment) Regulation-2080 has been approved by the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Cabinet meeting has entrusted the Division Forest Office with the responsibility of management of Jatamasi plant (Spikenard). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Permission has been granted to use a total of nine hectare of national forest area at ward no 5 of Bagmati Rural Municipality in Makawanpur district and ward no 6 of Mahankal Rural Municipality in Lalitpur district for the construction of infrastructures related to the Super Lower Bagmati Hydro Power Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government granted permission to the Nepali delegation led by the Minister for Finance to participate in the annual meetings of the World Bank Group and International Monetary Fund to be held in Morocco. Approval has also been granted to the Minister for Youth and Sports and the Sports Secretary to participate in the 19th Asian Games to be held in Hangzhou City, China. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18744', 'image' => '20230917095501_20230306031824_Clipboard32.jpg', 'article_date' => '2023-09-17 21:54:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19014', 'article_category_id' => '1', 'title' => 'Bhatbhateni Store at Pulchok Fined Rs 100,000 for Selling Date-Expired Food Stuffs ', 'sub_title' => '', 'summary' => 'September 17: A joint market monitoring team in Lalitpur has fined Bhatbhateni store at Pulchok for selling date-expired food.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 17: A joint market monitoring team in Lalitpur has fined Bhatbhateni store at Pulchok for selling date-expired food. The team comprising Assistant Chief District Officer Amar Dip Sunuwar conducted the monitoring of several stores including Bhatbhateni, Bigmart and Saleways. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant CDO Sunuwar informed that Bhatbhateni store was found selling date-expired food items such as ghee and eggs. So, it was fined Rs 100,000. Similarly, Big Mart was found selling green vegetables by manipulating weighing tool. It was subjected to a fine of Rs 10,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further informed that the market monitoring was initiated in the wake of upcoming festivals. He warned that action would be taken against anyone involved in jeopardizing public health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sub-standard food items confiscated from Bhatbhateni store were disposed by the monitoring team, according to Sanjay Thapa, inspector at Small and Cottage Office, Lalitpur. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18743', 'image' => '20230917094720_70027991_vEcSy_alynxIkBYBzePg6MHnzrco-ZR2tzsSlQOvi8o.jpg', 'article_date' => '2023-09-17 21:46:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19013', 'article_category_id' => '1', 'title' => 'Ncell Celebrates its 18th Anniversary in Line with Theme 'Here for You'', 'sub_title' => '', 'summary' => 'September 17: Ncell on Sunday observed its 18th anniversary, marking 18 years of togetherness and a remarkable journey of serving Nepal with world-class telecommunications services with a local touch, enhancing connectivity, and enriching the lives of Nepali communities.', 'content' => '<p><span style="font-size:18px">September 17: Ncell on Sunday observed its 18th anniversary, marking 18 years of togetherness and a remarkable journey of serving Nepal with world-class telecommunications services with a local touch, enhancing connectivity, and enriching the lives of Nepali communities.<br /> Issuing a statement, Ncell said the company embarked on its humble journey on this day on September 17, 2005, and since then, it has been providing essential communication services, revolutionising the telecommunications industry in Nepal. Starting with reliable basic mobile services and evolving into innovative communication solutions to meet various communication needs of consumers, among other offerings, Ncell has been a beacon of progress in Nepal, added the statement.<br /> Sharing his excitement, Chief Executive Officer and Managing Director of Ncell, Jabbor Kayumov, said, “We are proud to be an integral part of over 16 million Nepalese customers of Nepal. Ncell is always here for Nepal and Nepali people, and now we are even more committed to continuing to address the needs of the country. To bring solutions that ease access to things that are difficult to get for the majority of Nepalis will be our vision. Ncell is Here for You and we are committed to many more years of togetherness.”<br /> As Ncell embarks on its new journey, it has expressed its long-term commitment to keeping its customers always connected. In line with its brand promise, ‘Today. Tomorrow. Together.’, Ncell announced the theme 'Here for You'. Under this theme, Ncell has announced a series of activities, collaborations, and programmes aimed at driving social causes and creating a meaningful impact at the community level in Nepal.<br /> On the occasion, Ncell has launched a new campaign, 'Every Customer is a Winner,' through which all Ncell customers starting September 17 receive surprise loyalty gifts for 28 days as part of the extended celebrations. In this campaign, customers who dial *17117# are eligible to get daily, weekly and bumper gifts. In daily gifts, customers get Ncell products and services without any charge. According to the company, 1000 Ncell customers will get Rs 100 balance weekly and at the end of the campaign, seven lucky customers will get 7 scooters. To be eligible to get weekly and bumper gifts, customers should have used Ncell services during the campaign period and need to send a creative slogan about Ncell or with Ncell on Ncell App or website. <br /> Under its Corporate Social Responsibility (CSR), Ncell announced its strategic partnership with the National Paralympic Committee (NPC) Nepal, in which the company will support Paralympic national players who will be representing Nepal in national and international games. As per this partnership, Ncell pledged to extend its support for ensuring the overall training and development of the national players along with their required diet and nutrition around the year. </span></p> <p><span style="font-size:18px">In its ongoing commitment to supporting the government in achieving the Sustainable Development Goals (SDGs), Ncell has prioritised CSR efforts. Over the last 18 years, the company claimed it has contributed over Rs 1.80 billion to various social causes, with a focus on areas such as education, environment, and health, among others. As one of the largest taxpayers, Ncell said it paid Rs 283 billion in taxes and fees to the government since its inception, making a significant contribution to Nepal's economy.</span></p> <p><span style="font-size:18px">“Ncell's services have not only ensured access to telecommunications services but have also played a pivotal role in the socio-economic development of the country, becoming a key enabler of the country's information and communication technology (ICT) ecosystem,” reads the statement, adding, “Some of the major milestones in Ncell's journey include easy, affordable access to mobile connections, the launch of 3G and mobile broadband Ncell Connect, innovative voice and data packs, a flat call rate of Rs. 1.99 across the country, 4G, Ncell for Business (N4B), local call rates to India, the US, and Canada, easy roaming for travelers, Ncell Saapati, and free Twitter and Wiki, all of which have transformed telecommunications in Nepal.”</span></p> <p><span style="font-size:18px">To further enhance transparency and accessibility, Ncell’s CEO has announced opening of Instagram account, allowing the general public to connect with the CEO directly. Ncell also opened the CEO's email, ceo@ncell.axiaa.com, to the general public, encouraging people to contact the CEO directly regarding any matters that require attention. <br /> “We are the first corporate house in Nepal to reach out directly to our customers and provide access to our CEO directly,” Jabbor said, adding, “Customers can reach out to me directly, and our team will ensure that we report back to our customers, contributing to building a culture of trust and transparency to enhance the customer experience.”</span></p> <p><span style="font-size:18px">With an intent to reach and connect with local people of Nepal from all the Provinces, Ncell called applications from organizations (Not for Profit) for the implementation of the projects in their community that provide local solutions to local problems. The seed fund for such community projects is Rs 1 million for each project in one community with primary focus on education and health and other areas being environment, disaster response and livelihood support programs. The eligibility criteria and process for applying for the funding is available in detail on Ncell’s website.</span></p> <p><span style="font-size:18px">In alignment with the theme 'Here for You', several other activities and events are planned for Ncell's 18th anniversary celebration. These include Health Camps in areas with low human development indices, blood donation drives, tree planting initiatives, friendly football matches at Lainchaur Ground, visits by celebrities to Ncell Centres to interact with customers, among other events, added the statement. <br /> On Sunday, September 17, members of the Executive Management Team (EMT) visited Ncell Centres and Points of Sale in different parts of the country to interact with customers and personally thank them for their love and continued support.</span></p> <p><span style="font-size:18px"> </span><br /> </p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18742', 'image' => '20230917074229_CDR65392.jpg', 'article_date' => '2023-09-17 19:41:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19012', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases by 25 Percent in First Month of Current FY', 'sub_title' => '', 'summary' => 'September 17: The inflow of remittance into Nepal in the first month of the current fiscal year increased by 25.8 percent compared to an increase of 20.3 percent in the same period of the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 17: The inflow of remittance into Nepal in the first month of the current fiscal year increased by 25.8 percent compared to an increase of 20.3 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Current Macroeconomic and Financial Situation Report published by Nepal Rastra Bank (NRB) on Sunday, the remittance inflow between mid-July and mid-August in the current fiscal year stood at Rs 116.02 billion</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of the US dollar, remittance inflow increased 21.5 percent to 879.8 million in the review period compared to an increase of 12.5 percent in the same period of the previous year, reads the NRB report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the number of Nepali workers (institutional and individual) taking new approval for foreign employment decreased 12.1 percent to 39,152 in the review period. The number of Nepali workers renewing their work permits for foreign employment decreased 19.5 percent to 16,423 in the review period. It had increased 75.4 percent in the same period of the previous year, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the net transfer increased 26.1 percent to Rs 128.21 billion in the review period. Such a transfer had increased 18.4 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18741', 'image' => '20230917061139_Remittance.jpg', 'article_date' => '2023-09-17 18:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19011', 'article_category_id' => '1', 'title' => 'Microfinance Companies Struggling to Recover Debts', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px">September 17: Microfinance companies have been providing loans against collateral as well as collateral-free loans by forming groups of poor and underprivileged people. The microfinance companies are currently struggling to recover their loans.</span></p> <p><span style="font-size:18px">Due to the decline in economic activities, the ability of the borrowers to pay their debts has decreased, while the non-payment movement has caused problems in debt recovery.</span></p> <p><span style="font-size:18px">The debt recovery has been affected due to the fact that the same person has been taking loans from more than one organization and investing in non-productive sectors.</span></p> <p><span style="font-size:18px">As the loan recovery has been affected, the bad loans of microfinance companies have increased significantly. According to the data of Nepal Rastra Bank, the average bad loans of microfinance companies was 2.97 percent in June 2021. By March 2022, bad loans reached 7.43 percent. Although the official data has not been published, it is estimated that the bad loans of microfinance companies have reached about 10 percent in June 2023.</span></p> <p><span style="font-size:18px">The Nepal Rastra Bank in June issued instructions and extended the deadline of repayment of loans of the customers who could not pay their loans to the microfinance companies by one year.</span></p> <p><span style="font-size:18px">The central bank had made an arrangement to restructure the loans for the active borrowers of microfinance companies, allowing them to pay a minimum interest amount of 5 percent of the outstanding interest to reschedule the loan.</span></p> <p><span style="font-size:18px">Janadarn Dev Pant, chief executive officer of Nirdhan Utthan Lagubitta Bittiya Sansthan, says that if the rescheduling facility is not provided, the ratio of bad loans of microfinance companies will double.</span></p> <p><span style="font-size:18px">"The concession given by the central bank has made it easier for microfinance companies to manage bad loans," he said.</span></p> <p><span style="font-size:18px">As of March last year, there were 5.99 customers of 63 microfinance companies, and the number of borrowers stood at 3.1 million. Microfinance institutions have invested a total of Rs 441 billion in loans.</span></p> <p><span style="font-size:18px">The central bank had formed a task force under the coordination of the Executive Director of the Economic Research Department of NRB, Dr Prakash Kumar Shrestha in the month of Shrawn (mid-July to mid-August) after the members of microfinance companies protested saying that they were suffering from the operators of microfinance companies. </span></p> <p><span style="font-size:18px">Although the task force has submitted a preliminary report, it is working with a deadline extension till mid-September.</span></p> <p><span style="font-size:18px">Lately, the microfinance companies have not been strict in debt recovery due to the customers’ agitation. Microfinance institutions have not carried out activities such as putting unnecessary pressure on those who do not pay their loans.</span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18740', 'image' => '20230917053953_Bad Loan.jpg', 'article_date' => '2023-09-17 17:38:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19010', 'article_category_id' => '1', 'title' => 'Securities Board to Review Brokers’ Commission', 'sub_title' => '', 'summary' => 'September 17: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has said that SEBON is preparing to review the brokers’ commission. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 17: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has said that SEBON is preparing to review the brokers’ commission. He also said that the broker commission will be reviewed in such a way that the securities broker companies will not suffer. Speaking at an interaction program on Capital Market: Possibilities and Challenges held in Kathmandu on Friday, Chairman Hamal said that broker companies are the heart of the capital market and that the commission will be reviewed in a way that they will not suffer. He also mentioned that the board's commission will be reduced before the broker's commission is reduced.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal said that SEBON is going to review the brokers’ commission keeping in mind the interests of the common investors. Hamal informed that he has discussed the matter of reducing broker commission in depth with the broker companies and expressed his commitment that the commission will be reviewed so that no one in the market is be at a loss.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal opposed the 10-share policy in the initial public offering (IPO). Hamal also pointed out the need to strengthen the positive aspects of this policy and to review the negative aspects.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He has accepted that the capital market has reached many investors due to the 10 per cent policy. Hamal said that in the future, the board will give priority to raising institutional investors in the securities market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal also informed that the study committee formed by the board on the issue of allowing non-resident Nepalis to enter the securities market has already prepared the necessary report and the necessary law-making work is underway. Informing that the board is preparing to implement a new system for the right shares, Hamal said that the qualifications of independent directors of listed companies will also be determined.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In response to the question of whether the board can take action against the companies whose share prices in the secondary market have dropped below the premium price, Mukti Shrestha, the executive chairman of the board, said that although the board will approve good companies to issue IPOs at a premium price, the board will not force investors to buy shares of those companies. Shrestha believes that the investors themselves should take responsibility for the risk in the secondary market from the decision to purchase the IPO.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">While the board is saying that it is studying the matter of reducing the broker commission, the representatives of the broker companies have requested not to reduce it. Chairman of Stock Brokers Association Dharmaraj Sapkota and Secretary General of Securities Stock Brokers Association Krishna Giri said that the brokers are running at a loss in the current situation and requested not to review the commission.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">General Secretary Giri suggested that when new broker companies have just entered the securities market, they should be evaluated for a few years first.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">President Sapkota said that in the case of old broker companies, there are some technical difficulties in providing margin loans and the board should solve those difficulties.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18739', 'image' => '20230917044613_Sebon-update.jpg', 'article_date' => '2023-09-17 16:45:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19027', 'article_category_id' => '1', 'title' => 'Illegally-Imported Sugar worth Rs 64 Per Kg being Sold at Rs 135 in Kathmandu', 'sub_title' => '', 'summary' => 'September 18: Consumers of Kathmandu, who are forced to pay as much as Rs 135 for one kilogram of sugar, may not believe that they can get that much sugar for just Rs 70 in the border area markets including Birgunj. ', '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"">September 18: Consumers of Kathmandu, who are forced to pay as much as Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">135</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for one kilogram of sugar, may not believe that they can get that much sugar for just Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">in the border area markets including Birgunj. How can they believe when the factory price of the sugar produced in the domestic market has now reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg. Traders said that some industrialists even charge up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">115</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg.</span></span></span></span></p> <p><span style="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 traders say that adding the rent and their profit, the price of sugar in the main cities including Kathmandu will reach around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. On the other hand, consumers in the border areas are buying sugar at much less price thanks to the illegally imported sugar from India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sugar produced in the domestic industry of Nepal is not sold in the border areas with India because the traders are selling sugar smuggled from India at a cheaper price. Sugar produced in the country is sold in areas other than the Terai," said Rajesh Kedia, owner of Indushankar Sugar Industry.</span></span></span></span></p> <p><span style="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 retail price of sugar in the Indian market is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg (INR </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40). </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">carriers" charge Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kilo and brings it to the Nepali market in border areas. Smuggled sugar has reached even Kathmandu, Pokhara, Hetaunda and other cities and rural areas.</span></span></span></span></p> <p><span style="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 smugglers are believed to deliver illegally imported sugar to different cities in coordination with the security personnel posted in the border areas. Sugar imported from India at throw-away price is sold at high rates in p laces other than the border areas.</span></span></span></span></p> <p><span style="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 domestic production of Nepal cannot meet the demand for sugar in the country. According to the Sugar Producers Association, the domestic sugar industries produced </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">176,500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of sugar by crushing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">188</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million quintals of sugarcane in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. The domestic market demand is around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons. India has banned the export of sugar. The Government of Nepal has not imported sugar for two years. Taking advantage of this opportunity, sugar illegally imported from India is being sold at high prices in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The operators of Indushankar Sugar Industry say that the price of a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg sack of sugar is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,500.</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this calculation, the maximum price of one kg of sugar is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">110</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the Department of Commerce, Supply and Consumer Protection made it mandatory to keep the price on the label, the industries have started writing the maximum price on the bag since last month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kedia says that if the department monitors on the basis of these prices, then the black marketing of sugar will be controlled. He claimed that the industry takes only the factory price, which is around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kilo. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We are eager to know who benefits from the inflated price. But all the blame is put on our heads as if we are responsible for the price hike,” said Kedia.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Only recently, the Ministry of Finance has given permission to the Salt Trading Corporation and the Food Management and Trading Company to import subsidized sugar at the rate of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons each. However, even if import of sugar is allowed targeting major festivals like Dashain, Tihar and Chhath, there is no possibility of sugar arriving before Dashain as there is only about one month left for Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no uniformity in the price of sugar in Kathmandu. According to the information given by the Retail Trade Association, the retail price of sugar in Kathmandu is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">130</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg. However, it has been found that it differs from one shop to another.</span></span></span></span></p> <p><span style="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 Thapathali, Bagbazar, Putlisadak, Babarmahal and Baneshwar areas of Kathmandu, the price of sugar ranges from Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">110</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">135</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. Consumers complain that when they go to buy sugar, most of the shops return the consumers empty-handed saying that they do not have sugar, and some of them do not sell even though they have sugar. Kishore Malla, who came to buy sugar at a shop in Putlisadak on Sunday, complained that he could not get sugar easily in the market. He said that he had to visit five to six shops to buy a kilogram of sugar.</span></span></span></span></p> <p><span style="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 Department of Commerce, Supply and Consumer Protection, which is tasked with market monitoring, has expressed its helplessness regarding the arbitrary price of sugar in the market ahead of the major festivals. The department admitted that it could not increase market monitoring due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Acting Director General of the Department, Anand Pokharel, admitted that the lack of monitoring has increased the morale of businessmen.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Market monitoring has not been effective due to the lack of coordination between the local government, the state government and the district administration office. Taking advantage of this situation, the traders might have increased the price arbitrarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the Industry and Commerce and Labor and Consumer Affairs Committee of the Parliament has instructed the Ministry of Finance to provide tax and customs exemptions on sugar imports. A meeting of the committee on Sunday instructed the ministry to give consent for the import of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of sugar demanded by the Ministry of Industry, Commerce and Supplies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the committee, Abdul Khan, informed that the government has been instructed to ease the supply arrangements and distribute sugar at subsidized prices by controlling prices and discouraging 'carteling' to prevent shortage of essential commodities such as sugar, rice, and wheat during the upcoming festivals. </span></span></span></span></p> <p><span style="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 meeting instructed the Ministry of Industry to make the monitoring effective with adequate manpower and resources and to prevent irregular activities such as adulteration, artificial shortage, black marketing, hoarding, and unnatural price hike.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18756', 'image' => '20230918024452_sugar.jpg', 'article_date' => '2023-09-18 14:43:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19026', 'article_category_id' => '1', 'title' => 'Spark Car to Organise 'Wild Stay with Chaunri' in Sailung', 'sub_title' => '', 'summary' => 'September 18: Spark Car, a rental car service provider, has announced to organize a Wild Stay with Chauri under the Spark Adventure 2023 in Sailung, a picturesque area in Dolakha with high potential for tourism.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">September 18: Spark Car, a rental car service provider, has announced to organize a Wild Stay with Chauri under the Spark Adventure 2023 in Sailung, a picturesque area in Dolakha with high potential for tourism.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Last year, the first edition of Spark Adventure was conducted in Bhujung, Lamjung, by harvesting bee honey. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The program coordinator Amardeep Bhattarai informed that the second edition is being organized with a focus on Sailung on the border of Dolakha and Ramechhap to promote tourism.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Coordinator Bhattarai announced the participation of various celebrities including Captain Vijay Lama and singer Yash Kumar as well as administrative officials, and security agency personnel in the Spark Adventure, scheduled to be held from September 28 to 30.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, this adventure is ideal for those who seek to explore domestic tourism, spend a night in the forest with yaks, immerse themselves in local culture, relish delicious cuisine, and discover picturesque rural destinations.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The registration fee to participate in the program is Rs 30,000.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18755', 'image' => '20230918013152_Spark_car.jpg', 'article_date' => '2023-09-18 13:31:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19025', 'article_category_id' => '1', 'title' => 'Esewa Money Transfer to Continues its ‘Mero Digital Desh’ Initiative ', 'sub_title' => '', 'summary' => 'September 18: Esewa Money Transfer, one of the leading digital remittance company of Nepal operating under the stewardship of fintech company F1Soft Group, has announced to continue its initiative “Mero Digital Desh” in order to promote formal remittance and make people aware of the advantages of sending money through digital channels. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 18: Esewa Money Transfer, one of the leading digital remittance company of Nepal operating under the stewardship of fintech company F1Soft Group, has announced to continue its initiative “Mero Digital Desh” in order to promote formal remittance and make people aware of the advantages of sending money through digital channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Under this initiative, eSewa has launched ‘Win Your Dream Home’ campaign starting from September 18 September. The 10-month campaign will end on 16 July 2024, reads a statement issued by eSewa Money Transfer. According to the company, Nepalese nationals working and residing in any country across the world can be a part of this campaign by sending remittances directly to the eSewa wallet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Esewa Money Transfer signed an agreement with eSewa in this regard. As per the company, each month, one lucky winner will receive twice the amount they initially sent as remittance. Additionally, four individuals will be given special prizes throughout the campaign, and ultimately, one lucky winner will get a brand-new house in Kathmandu as the bumper prize. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking about the initiative, Subash Sharma, director of F1Soft Group, said, "This initiative symbolizes our appreciation for the dedication and sacrifices made by Nepalese individuals employed overseas. The ultimate aspiration for every Nepalese working abroad is to build a house in Kathmandu. And, through this campaign, we will be able to fulfill the dream of at least one person.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Daniel D Shrestha, group strategy director of F1Soft Group, emphasized the significant contribution of Esewa Money Transfer for economic development since its inception. He added that the main motive of this initiative is to keep the money sent through remittance, circulated in the digital ecosystem. He shared the examples of foreign reserves crisis seen in south Asian countries like Sri Lanka and Pakistan where informal remittances had posed a great challenge. Shrestha stressed the need to consistently educate and aware the Nepali community regarding the importance of formal and digital remittance as it has multiple benefits for the economy both in short term and long term.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Jagdish Khadka, CEO of eSewa stated that this initiative will enable individuals to transfer funds from overseas to Nepal in a matter of minutes, revolutionizing the remittance process. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“We firmly believe that this innovative undertaking will bring about a positive transformation in the country's economy and elevate the quality and reliability of remittance services.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal’s legendary cine artist Rajesh Hamal is promoting the campaign in national and international awareness events related to digital remittance. Also, popular actress Swastima Khadka is set to remain an essential part of numerous promotional activities as part of this initiative, the company said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18754', 'image' => '20230918123327_PR Photo .jpg', 'article_date' => '2023-09-18 12:32:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19024', 'article_category_id' => '1', 'title' => 'Current Account and Balance of Payments in Surplus', 'sub_title' => '', 'summary' => 'September 17: The country’s current account remained at a surplus of Rs 12.99 billion in the first month of the current fiscal year against a deficit of Rs 15.13 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px">September 17: The country’s current account remained at a surplus of Rs 12.99 billion in the first month of the current fiscal year against a deficit of Rs 15.13 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">According to the Current Macroeconomic and Financial Situation Report of Nepal published by the Nepal Rastra Bank (NRB), the current account in terms of US dollar registered a surplus of 98.5 million in the review period against a deficit of 118.8 million in the same period last year.</span></p> <p><span style="font-size:18px">In the review period, capital transfer decreased 65.9 percent to Rs 272.6 million and net foreign direct investment (FDI) remained a positive of Rs 2.65 billion. In the same period of the previous year, capital transfer amounted to Rs 800.3 million and the net FDI amounted to a negative of Rs 1.40 billion, added the report.</span></p> <p><span style="font-size:18px">According to the central bank, Balance of Payments (BOP) remained at a surplus of Rs 32.90 billion in the review period against a deficit of Rs 19.76 billion in the same period of the previous year. In the US Dollar terms, the BOP remained at a surplus of 249.5 million in the review period against a deficit of 155.2 million in the same period of the previous year.</span></p> <p><span style="font-size:18px">Similarly, the gross foreign exchange reserves increased 2.2 percent to Rs 1573.12 billion in mid-August 2023 from Rs 1539.36 billion in mid-July 2023. In the US dollar terms, the gross foreign exchange reserves increased 1.2 percent to 11.85 billion in mid-August 2023 from 11.71 billion in mid-July 2023. Of the total foreign exchange reserves, reserves held by NRB increased 2.9 percent to Rs 1385.24 billion in mid-August 2023 from Rs 1345.78 billion in mid-July 2023, added the latest report.</span></p> <p><span style="font-size:18px">Similarly, the reserves held by banks and financial institutions (except NRB) decreased 2.9 percent to Rs 187.89 billion in mid-August 2023 from Rs 193.59 billion in mid-July 2023. The share of Indian currency in total reserves stood at 21.9 percent in mid-August 2023.</span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18753', 'image' => '20230918114232_20230917100940_20230509025612_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-09-18 11:40:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19023', 'article_category_id' => '1', 'title' => 'Devotees Throng Shiva Temples on the Occasion of Teej Festival', 'sub_title' => '', 'summary' => 'September 18: Devotees are thronging temples across the country including the Pashupatinath Temple in the federal capital on the occasion of Haritalika Teej festival. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 18: Devotees are thronging temples across the country including the Pashupatinath Temple in the federal capital on the occasion of Haritalika Teej festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All four doors of the Pashupatinath temple were opened at 3:00 am early this morning for the devotees coming to pay obeisance to Lord Shiva marking the Teej festival, said head of Culture Preservation Division of Pashupati Area Development Trust, Gaurishankar Parajuli. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Four queues have been arranged for the devotees coming to the Pashupatinath temple. Only women devotees were allowed to enter the main temple of Pashupatinath after 6:00 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to PADT, security arrangements have been made in coordination with all the four security agencies on the temple premises. Services such as health camps, free water distribution, search and rescue centers have also been arranged in Pashupati area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Kathmandu valley, devotees have been gathering at temples in Gokarneshwar, Doleshwar, Nageshwar, Basantpur and the Makhan Mahadev Temple, known as small Pashupatinath Temple. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18752', 'image' => '20230918111753_HB_KTM-_IMG_1689.jpg', 'article_date' => '2023-09-18 11:17:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19022', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Declines Marginally', 'sub_title' => '', 'summary' => 'September 18: Nepal’s trade deficit decreased 0.7 percent to Rs 115.71 billion during the first month of the current fiscal year (FY 2023/24), according to the latest report of Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px">September 18: Nepal’s trade deficit decreased 0.7 percent to Rs 115.71 billion during the first month of the current fiscal year (FY 2023/24), according to the latest report of Nepal Rastra Bank.</span></p> <p><span style="font-size:18px">The Current Macroeconomic and Financial Situation Report published by NRB on Sunday states that such a deficit had decreased 10.4 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">The report added that the export-import ratio decreased to 10.5 percent in the review period from 11.3 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">During the first month of FY 2023/24, merchandise exports decreased 8.7 percent to Rs 13.53 billion compared to a decrease of 28.7 percent in the same period of the previous year.</span></p> <p><span style="font-size:18px">Destination-wise, exports to India decreased 20.8 percent whereas exports to China and other countries increased 527.2 percent and 15.4 percent respectively.</span></p> <p><span style="font-size:18px">Exports of cardamom, zinc sheet, particle board, juice, ginger, among others increased whereas exports of palm oil, soybean oil, medicine (Ayurvedic), pashmina, silverware and jewelries, among others decreased in the review period.</span></p> <p><span style="font-size:18px">During the first month of FY 2023/24, merchandise imports decreased 1.6 percent to Rs 129.24 billion compared to a decrease of 12.9 percent a year ago.</span></p> <p><span style="font-size:18px">Destination-wise, imports from India and China increased 3.3 percent and 17.0 percent respectively while imports from other countries decreased 23.1 percent. Imports of rice, paddy, MS wire rod, bars, coils, chemical fertilizer, hot rolled sheet in coil, electrical goods, among others increased whereas imports of petroleum products, crude soybean oil, crude palm oil, medicine, MS billet, among others decreased in the review period.</span></p> <p><span style="font-size:18px">Based on customs points, exports from Bhairahawa, Dry Port, Jaleswar, Kanchanpur, Krishnagar, Mechi, Nepalgunj, Rasuwa and Tribhuwan International Airport customs offices increased whereas exports from all the other major customs points decreased in the review period.</span></p> <p><span style="font-size:18px">On the import side, imports from Bhairahawa, Dry Port, Jaleshwar, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period.</span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18751', 'image' => '20230918104033_20230917100315_20220712103532_Trade.jpg', 'article_date' => '2023-09-18 10:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19021', 'article_category_id' => '1', 'title' => 'Karnali Government to Offer 17 Types of Subsidies to Farmers', 'sub_title' => '', 'summary' => 'The Karnali province government has announced its plan to provide 17 different types of subsidies this year in an effort to support and motivate farmers within the province.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">September 18: The Karnali province government has announced its plan to provide 17 different types of subsidies this year in an effort to support and motivate farmers within the province. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">These subsidies will be distributed as part of the approved program for the current fiscal year, 2080-81.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">According to the provincial Directorate of Agriculture, these subsidies are open for application to farmers involved in agricultural business groups, agricultural cooperatives, entrepreneurs, and private firms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">The directorate has emphasized that agricultural subsidies will be specifically targeted towards Dalit women and individuals belonging to backward classes as part of the income generation program.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">The subsidies will include a range of initiatives, including support for income-generating programs for people with disabilities, promotion of pulse crop cultivation, and the distribution of advanced seeds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Chitra Bahadur Rokaya, Acting Director of the Directorate, highlighted that subsidies will also be extended to food crop seed production, beekeeping, tea cultivation, and the advancement of commercial agro businesses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Furthermore, the directorate intends to provide subsidies for land rent and electricity tariffs. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Rokaya elaborated that support will also be allocated for the selection, training, and engagement of agricultural technicians.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">To be eligible for these subsidies, interested parties must meet specific criteria outlined in a notice issued by the directorate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">This includes providing official registration details of their organizations and firms, as well as details about their agricultural business schedules and other requisite documentation. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18750', 'image' => '20230918065412_collage (1).jpg', 'article_date' => '2023-09-18 06:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19020', 'article_category_id' => '1', 'title' => 'Deposit Collection Drops by 2.3%; Credit Flow Falls by 0.1%', 'sub_title' => '', 'summary' => 'In the first month of the current fiscal year of 2023/2024, the deposit collection of banks and financial institutions decreased by 2.3 percent, and the loan flow dipped by 0.1 percent.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 18: In the first month of the current fiscal year of 2023/2024, the deposit collection of banks and financial institutions decreased by 2.3 percent, and the loan flow dipped by 0.1 percent. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The report published by Nepal Rastra Bank on the Macroeconomic and Financial Conditions on Sunday showed the fall of deposit collection and loan disbursement in the first month of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On year on year basis(y-o-y), the growth rate of deposits is 11.9 percent, and the growth rate of loans disbursed in the private sector is reported to be 3.8 percent, according to the central bank.</span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18749', 'image' => '20230918063918_collage.jpg', 'article_date' => '2023-09-18 06:36:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19019', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Drops in First Month of Current FY', 'sub_title' => '', 'summary' => 'September 17: The year-on-year (y-o-y) consumer price inflation in Nepal stood at 7.52 percent in mid-August 2023 compared to 8.26 percent a year ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 17: The year-on-year (y-o-y) consumer price inflation in Nepal stood at 7.52 percent in mid-August 2023 compared to 8.26 percent a year ago.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), food and beverage inflation stood at 8.95 percent whereas non-food and service inflation stood at 6.42 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 45.56 percent, cereal grains and their products 13.20 percent, milk products and eggs 12.19 percent, restaurant and hotel 11.05 percent and vegetable 10.80 percent while the y-o-y price index of ghee and oil sub-category decreased 15.13 percent, states the Current Macroeconomic and Financial Situation Report published by NRB on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, y-o-y price index of recreation and culture sub-category increased 15.55 percent, education 9.10 percent, housing and utilities 6.93 percent and furnishing and household equipment 6.79 percent while y-o-y price index of transportation sub-category decreased 0.81 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, y-o-y consumer price inflation in the Kathmandu Valley, Terai, hill and mountain regions stood at 8.50 percent, 6.70 percent, 7.50 percent and 11.46 percent respectively. Inflation in these regions were 7.39 percent, 8.72 percent, 8.64 percent and 6.64 percent respectively a year ago.</span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18748', 'image' => '20230917101520_20230710030747_Inflation1.jpg', 'article_date' => '2023-09-17 22:14:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19015', 'article_category_id' => '1', 'title' => 'Cabinet Accepts USD 6 Million in Loan for Prefeasibility Study of Upper Arun Project ', 'sub_title' => '', 'summary' => 'September 17: The Council of Ministers on September 15 decided to accept USD 6 million in concessional loan from the World Bank (WB) for prefeasibility study of the Upper Arun Hydropower Project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 17: The Council of Ministers on September 15 decided to accept USD 6 million in concessional loan from the World Bank (WB) for prefeasibility study of the Upper Arun Hydropower Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing the media about the cabinet meeting's decisions, Minister for Communications and Information Technology and government spokesperson Rekha Sharma said a decision has also been taken to submit the BIMSTEC Charter to the Federal Parliament for its ratification. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Cabinet meeting also decided to form a five-member committee on tax system reforms under the leadership of former minister Bidhyadhar Mallik. The government had made such announcement through the budget speech of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Baburam Panta has been appointed the Chairman of Industrial District Management Limited, added Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to ease the supply of sugar by giving customs duty exemption in view of the upcoming festive season. The Council of Ministers also decided to allow the Salt Trading Corporation and Food Management and Trading Company Limited to import 10,000 metric tonnes of sugar each by waiving 50 per cent of the customs tariffs, according to Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the cabinet meeting decided to put on hold the distribution of decorations and medals for some time. The Council of Ministers has decided to form a taskforce mandated to submit a report within three months by carrying out studies on different international practices on decorations and medal distributions to establish its pride and institutionalize the nation's dignity. The standards for the distribution of decorations and medals would be prepared based on the recommendations of the taskforce and the distribution of the medals to be given away by the president on the occasion of the Constitution Day would be postponed until the standards are prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Irrigation Policy- 2080 and Nepali Citizenship (Third Amendment) Regulation-2080 has been approved by the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Cabinet meeting has entrusted the Division Forest Office with the responsibility of management of Jatamasi plant (Spikenard). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Permission has been granted to use a total of nine hectare of national forest area at ward no 5 of Bagmati Rural Municipality in Makawanpur district and ward no 6 of Mahankal Rural Municipality in Lalitpur district for the construction of infrastructures related to the Super Lower Bagmati Hydro Power Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government granted permission to the Nepali delegation led by the Minister for Finance to participate in the annual meetings of the World Bank Group and International Monetary Fund to be held in Morocco. Approval has also been granted to the Minister for Youth and Sports and the Sports Secretary to participate in the 19th Asian Games to be held in Hangzhou City, China. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18744', 'image' => '20230917095501_20230306031824_Clipboard32.jpg', 'article_date' => '2023-09-17 21:54:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19014', 'article_category_id' => '1', 'title' => 'Bhatbhateni Store at Pulchok Fined Rs 100,000 for Selling Date-Expired Food Stuffs ', 'sub_title' => '', 'summary' => 'September 17: A joint market monitoring team in Lalitpur has fined Bhatbhateni store at Pulchok for selling date-expired food.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 17: A joint market monitoring team in Lalitpur has fined Bhatbhateni store at Pulchok for selling date-expired food. The team comprising Assistant Chief District Officer Amar Dip Sunuwar conducted the monitoring of several stores including Bhatbhateni, Bigmart and Saleways. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant CDO Sunuwar informed that Bhatbhateni store was found selling date-expired food items such as ghee and eggs. So, it was fined Rs 100,000. Similarly, Big Mart was found selling green vegetables by manipulating weighing tool. It was subjected to a fine of Rs 10,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further informed that the market monitoring was initiated in the wake of upcoming festivals. He warned that action would be taken against anyone involved in jeopardizing public health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sub-standard food items confiscated from Bhatbhateni store were disposed by the monitoring team, according to Sanjay Thapa, inspector at Small and Cottage Office, Lalitpur. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18743', 'image' => '20230917094720_70027991_vEcSy_alynxIkBYBzePg6MHnzrco-ZR2tzsSlQOvi8o.jpg', 'article_date' => '2023-09-17 21:46:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19013', 'article_category_id' => '1', 'title' => 'Ncell Celebrates its 18th Anniversary in Line with Theme 'Here for You'', 'sub_title' => '', 'summary' => 'September 17: Ncell on Sunday observed its 18th anniversary, marking 18 years of togetherness and a remarkable journey of serving Nepal with world-class telecommunications services with a local touch, enhancing connectivity, and enriching the lives of Nepali communities.', 'content' => '<p><span style="font-size:18px">September 17: Ncell on Sunday observed its 18th anniversary, marking 18 years of togetherness and a remarkable journey of serving Nepal with world-class telecommunications services with a local touch, enhancing connectivity, and enriching the lives of Nepali communities.<br /> Issuing a statement, Ncell said the company embarked on its humble journey on this day on September 17, 2005, and since then, it has been providing essential communication services, revolutionising the telecommunications industry in Nepal. Starting with reliable basic mobile services and evolving into innovative communication solutions to meet various communication needs of consumers, among other offerings, Ncell has been a beacon of progress in Nepal, added the statement.<br /> Sharing his excitement, Chief Executive Officer and Managing Director of Ncell, Jabbor Kayumov, said, “We are proud to be an integral part of over 16 million Nepalese customers of Nepal. Ncell is always here for Nepal and Nepali people, and now we are even more committed to continuing to address the needs of the country. To bring solutions that ease access to things that are difficult to get for the majority of Nepalis will be our vision. Ncell is Here for You and we are committed to many more years of togetherness.”<br /> As Ncell embarks on its new journey, it has expressed its long-term commitment to keeping its customers always connected. In line with its brand promise, ‘Today. Tomorrow. Together.’, Ncell announced the theme 'Here for You'. Under this theme, Ncell has announced a series of activities, collaborations, and programmes aimed at driving social causes and creating a meaningful impact at the community level in Nepal.<br /> On the occasion, Ncell has launched a new campaign, 'Every Customer is a Winner,' through which all Ncell customers starting September 17 receive surprise loyalty gifts for 28 days as part of the extended celebrations. In this campaign, customers who dial *17117# are eligible to get daily, weekly and bumper gifts. In daily gifts, customers get Ncell products and services without any charge. According to the company, 1000 Ncell customers will get Rs 100 balance weekly and at the end of the campaign, seven lucky customers will get 7 scooters. To be eligible to get weekly and bumper gifts, customers should have used Ncell services during the campaign period and need to send a creative slogan about Ncell or with Ncell on Ncell App or website. <br /> Under its Corporate Social Responsibility (CSR), Ncell announced its strategic partnership with the National Paralympic Committee (NPC) Nepal, in which the company will support Paralympic national players who will be representing Nepal in national and international games. As per this partnership, Ncell pledged to extend its support for ensuring the overall training and development of the national players along with their required diet and nutrition around the year. </span></p> <p><span style="font-size:18px">In its ongoing commitment to supporting the government in achieving the Sustainable Development Goals (SDGs), Ncell has prioritised CSR efforts. Over the last 18 years, the company claimed it has contributed over Rs 1.80 billion to various social causes, with a focus on areas such as education, environment, and health, among others. As one of the largest taxpayers, Ncell said it paid Rs 283 billion in taxes and fees to the government since its inception, making a significant contribution to Nepal's economy.</span></p> <p><span style="font-size:18px">“Ncell's services have not only ensured access to telecommunications services but have also played a pivotal role in the socio-economic development of the country, becoming a key enabler of the country's information and communication technology (ICT) ecosystem,” reads the statement, adding, “Some of the major milestones in Ncell's journey include easy, affordable access to mobile connections, the launch of 3G and mobile broadband Ncell Connect, innovative voice and data packs, a flat call rate of Rs. 1.99 across the country, 4G, Ncell for Business (N4B), local call rates to India, the US, and Canada, easy roaming for travelers, Ncell Saapati, and free Twitter and Wiki, all of which have transformed telecommunications in Nepal.”</span></p> <p><span style="font-size:18px">To further enhance transparency and accessibility, Ncell’s CEO has announced opening of Instagram account, allowing the general public to connect with the CEO directly. Ncell also opened the CEO's email, ceo@ncell.axiaa.com, to the general public, encouraging people to contact the CEO directly regarding any matters that require attention. <br /> “We are the first corporate house in Nepal to reach out directly to our customers and provide access to our CEO directly,” Jabbor said, adding, “Customers can reach out to me directly, and our team will ensure that we report back to our customers, contributing to building a culture of trust and transparency to enhance the customer experience.”</span></p> <p><span style="font-size:18px">With an intent to reach and connect with local people of Nepal from all the Provinces, Ncell called applications from organizations (Not for Profit) for the implementation of the projects in their community that provide local solutions to local problems. The seed fund for such community projects is Rs 1 million for each project in one community with primary focus on education and health and other areas being environment, disaster response and livelihood support programs. The eligibility criteria and process for applying for the funding is available in detail on Ncell’s website.</span></p> <p><span style="font-size:18px">In alignment with the theme 'Here for You', several other activities and events are planned for Ncell's 18th anniversary celebration. These include Health Camps in areas with low human development indices, blood donation drives, tree planting initiatives, friendly football matches at Lainchaur Ground, visits by celebrities to Ncell Centres to interact with customers, among other events, added the statement. <br /> On Sunday, September 17, members of the Executive Management Team (EMT) visited Ncell Centres and Points of Sale in different parts of the country to interact with customers and personally thank them for their love and continued support.</span></p> <p><span style="font-size:18px"> </span><br /> </p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18742', 'image' => '20230917074229_CDR65392.jpg', 'article_date' => '2023-09-17 19:41:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19012', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases by 25 Percent in First Month of Current FY', 'sub_title' => '', 'summary' => 'September 17: The inflow of remittance into Nepal in the first month of the current fiscal year increased by 25.8 percent compared to an increase of 20.3 percent in the same period of the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 17: The inflow of remittance into Nepal in the first month of the current fiscal year increased by 25.8 percent compared to an increase of 20.3 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Current Macroeconomic and Financial Situation Report published by Nepal Rastra Bank (NRB) on Sunday, the remittance inflow between mid-July and mid-August in the current fiscal year stood at Rs 116.02 billion</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of the US dollar, remittance inflow increased 21.5 percent to 879.8 million in the review period compared to an increase of 12.5 percent in the same period of the previous year, reads the NRB report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the number of Nepali workers (institutional and individual) taking new approval for foreign employment decreased 12.1 percent to 39,152 in the review period. The number of Nepali workers renewing their work permits for foreign employment decreased 19.5 percent to 16,423 in the review period. It had increased 75.4 percent in the same period of the previous year, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the net transfer increased 26.1 percent to Rs 128.21 billion in the review period. Such a transfer had increased 18.4 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18741', 'image' => '20230917061139_Remittance.jpg', 'article_date' => '2023-09-17 18:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19011', 'article_category_id' => '1', 'title' => 'Microfinance Companies Struggling to Recover Debts', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px">September 17: Microfinance companies have been providing loans against collateral as well as collateral-free loans by forming groups of poor and underprivileged people. The microfinance companies are currently struggling to recover their loans.</span></p> <p><span style="font-size:18px">Due to the decline in economic activities, the ability of the borrowers to pay their debts has decreased, while the non-payment movement has caused problems in debt recovery.</span></p> <p><span style="font-size:18px">The debt recovery has been affected due to the fact that the same person has been taking loans from more than one organization and investing in non-productive sectors.</span></p> <p><span style="font-size:18px">As the loan recovery has been affected, the bad loans of microfinance companies have increased significantly. According to the data of Nepal Rastra Bank, the average bad loans of microfinance companies was 2.97 percent in June 2021. By March 2022, bad loans reached 7.43 percent. Although the official data has not been published, it is estimated that the bad loans of microfinance companies have reached about 10 percent in June 2023.</span></p> <p><span style="font-size:18px">The Nepal Rastra Bank in June issued instructions and extended the deadline of repayment of loans of the customers who could not pay their loans to the microfinance companies by one year.</span></p> <p><span style="font-size:18px">The central bank had made an arrangement to restructure the loans for the active borrowers of microfinance companies, allowing them to pay a minimum interest amount of 5 percent of the outstanding interest to reschedule the loan.</span></p> <p><span style="font-size:18px">Janadarn Dev Pant, chief executive officer of Nirdhan Utthan Lagubitta Bittiya Sansthan, says that if the rescheduling facility is not provided, the ratio of bad loans of microfinance companies will double.</span></p> <p><span style="font-size:18px">"The concession given by the central bank has made it easier for microfinance companies to manage bad loans," he said.</span></p> <p><span style="font-size:18px">As of March last year, there were 5.99 customers of 63 microfinance companies, and the number of borrowers stood at 3.1 million. Microfinance institutions have invested a total of Rs 441 billion in loans.</span></p> <p><span style="font-size:18px">The central bank had formed a task force under the coordination of the Executive Director of the Economic Research Department of NRB, Dr Prakash Kumar Shrestha in the month of Shrawn (mid-July to mid-August) after the members of microfinance companies protested saying that they were suffering from the operators of microfinance companies. </span></p> <p><span style="font-size:18px">Although the task force has submitted a preliminary report, it is working with a deadline extension till mid-September.</span></p> <p><span style="font-size:18px">Lately, the microfinance companies have not been strict in debt recovery due to the customers’ agitation. Microfinance institutions have not carried out activities such as putting unnecessary pressure on those who do not pay their loans.</span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18740', 'image' => '20230917053953_Bad Loan.jpg', 'article_date' => '2023-09-17 17:38:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19010', 'article_category_id' => '1', 'title' => 'Securities Board to Review Brokers’ Commission', 'sub_title' => '', 'summary' => 'September 17: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has said that SEBON is preparing to review the brokers’ commission. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 17: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has said that SEBON is preparing to review the brokers’ commission. He also said that the broker commission will be reviewed in such a way that the securities broker companies will not suffer. Speaking at an interaction program on Capital Market: Possibilities and Challenges held in Kathmandu on Friday, Chairman Hamal said that broker companies are the heart of the capital market and that the commission will be reviewed in a way that they will not suffer. He also mentioned that the board's commission will be reduced before the broker's commission is reduced.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal said that SEBON is going to review the brokers’ commission keeping in mind the interests of the common investors. Hamal informed that he has discussed the matter of reducing broker commission in depth with the broker companies and expressed his commitment that the commission will be reviewed so that no one in the market is be at a loss.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal opposed the 10-share policy in the initial public offering (IPO). Hamal also pointed out the need to strengthen the positive aspects of this policy and to review the negative aspects.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He has accepted that the capital market has reached many investors due to the 10 per cent policy. Hamal said that in the future, the board will give priority to raising institutional investors in the securities market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal also informed that the study committee formed by the board on the issue of allowing non-resident Nepalis to enter the securities market has already prepared the necessary report and the necessary law-making work is underway. Informing that the board is preparing to implement a new system for the right shares, Hamal said that the qualifications of independent directors of listed companies will also be determined.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In response to the question of whether the board can take action against the companies whose share prices in the secondary market have dropped below the premium price, Mukti Shrestha, the executive chairman of the board, said that although the board will approve good companies to issue IPOs at a premium price, the board will not force investors to buy shares of those companies. Shrestha believes that the investors themselves should take responsibility for the risk in the secondary market from the decision to purchase the IPO.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">While the board is saying that it is studying the matter of reducing the broker commission, the representatives of the broker companies have requested not to reduce it. Chairman of Stock Brokers Association Dharmaraj Sapkota and Secretary General of Securities Stock Brokers Association Krishna Giri said that the brokers are running at a loss in the current situation and requested not to review the commission.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">General Secretary Giri suggested that when new broker companies have just entered the securities market, they should be evaluated for a few years first.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">President Sapkota said that in the case of old broker companies, there are some technical difficulties in providing margin loans and the board should solve those difficulties.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18739', 'image' => '20230917044613_Sebon-update.jpg', 'article_date' => '2023-09-17 16:45:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '19027', 'article_category_id' => '1', 'title' => 'Illegally-Imported Sugar worth Rs 64 Per Kg being Sold at Rs 135 in Kathmandu', 'sub_title' => '', 'summary' => 'September 18: Consumers of Kathmandu, who are forced to pay as much as Rs 135 for one kilogram of sugar, may not believe that they can get that much sugar for just Rs 70 in the border area markets including Birgunj. ', '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"">September 18: Consumers of Kathmandu, who are forced to pay as much as Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">135</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">for one kilogram of sugar, may not believe that they can get that much sugar for just Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">in the border area markets including Birgunj. How can they believe when the factory price of the sugar produced in the domestic market has now reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg. Traders said that some industrialists even charge up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">115</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg.</span></span></span></span></p> <p><span style="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 traders say that adding the rent and their profit, the price of sugar in the main cities including Kathmandu will reach around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. On the other hand, consumers in the border areas are buying sugar at much less price thanks to the illegally imported sugar from India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sugar produced in the domestic industry of Nepal is not sold in the border areas with India because the traders are selling sugar smuggled from India at a cheaper price. Sugar produced in the country is sold in areas other than the Terai," said Rajesh Kedia, owner of Indushankar Sugar Industry.</span></span></span></span></p> <p><span style="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 retail price of sugar in the Indian market is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg (INR </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40). </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">carriers" charge Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kilo and brings it to the Nepali market in border areas. Smuggled sugar has reached even Kathmandu, Pokhara, Hetaunda and other cities and rural areas.</span></span></span></span></p> <p><span style="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 smugglers are believed to deliver illegally imported sugar to different cities in coordination with the security personnel posted in the border areas. Sugar imported from India at throw-away price is sold at high rates in p laces other than the border areas.</span></span></span></span></p> <p><span style="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 domestic production of Nepal cannot meet the demand for sugar in the country. According to the Sugar Producers Association, the domestic sugar industries produced </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">176,500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of sugar by crushing </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">188</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million quintals of sugarcane in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. The domestic market demand is around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons. India has banned the export of sugar. The Government of Nepal has not imported sugar for two years. Taking advantage of this opportunity, sugar illegally imported from India is being sold at high prices in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The operators of Indushankar Sugar Industry say that the price of a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg sack of sugar is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,500.</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this calculation, the maximum price of one kg of sugar is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">110</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the Department of Commerce, Supply and Consumer Protection made it mandatory to keep the price on the label, the industries have started writing the maximum price on the bag since last month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kedia says that if the department monitors on the basis of these prices, then the black marketing of sugar will be controlled. He claimed that the industry takes only the factory price, which is around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kilo. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We are eager to know who benefits from the inflated price. But all the blame is put on our heads as if we are responsible for the price hike,” said Kedia.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Only recently, the Ministry of Finance has given permission to the Salt Trading Corporation and the Food Management and Trading Company to import subsidized sugar at the rate of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons each. However, even if import of sugar is allowed targeting major festivals like Dashain, Tihar and Chhath, there is no possibility of sugar arriving before Dashain as there is only about one month left for Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no uniformity in the price of sugar in Kathmandu. According to the information given by the Retail Trade Association, the retail price of sugar in Kathmandu is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">130</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg. However, it has been found that it differs from one shop to another.</span></span></span></span></p> <p><span style="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 Thapathali, Bagbazar, Putlisadak, Babarmahal and Baneshwar areas of Kathmandu, the price of sugar ranges from Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">110</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">135</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. Consumers complain that when they go to buy sugar, most of the shops return the consumers empty-handed saying that they do not have sugar, and some of them do not sell even though they have sugar. Kishore Malla, who came to buy sugar at a shop in Putlisadak on Sunday, complained that he could not get sugar easily in the market. He said that he had to visit five to six shops to buy a kilogram of sugar.</span></span></span></span></p> <p><span style="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 Department of Commerce, Supply and Consumer Protection, which is tasked with market monitoring, has expressed its helplessness regarding the arbitrary price of sugar in the market ahead of the major festivals. The department admitted that it could not increase market monitoring due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Acting Director General of the Department, Anand Pokharel, admitted that the lack of monitoring has increased the morale of businessmen.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Market monitoring has not been effective due to the lack of coordination between the local government, the state government and the district administration office. Taking advantage of this situation, the traders might have increased the price arbitrarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the Industry and Commerce and Labor and Consumer Affairs Committee of the Parliament has instructed the Ministry of Finance to provide tax and customs exemptions on sugar imports. A meeting of the committee on Sunday instructed the ministry to give consent for the import of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> metric tons of sugar demanded by the Ministry of Industry, Commerce and Supplies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the committee, Abdul Khan, informed that the government has been instructed to ease the supply arrangements and distribute sugar at subsidized prices by controlling prices and discouraging 'carteling' to prevent shortage of essential commodities such as sugar, rice, and wheat during the upcoming festivals. </span></span></span></span></p> <p><span style="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 meeting instructed the Ministry of Industry to make the monitoring effective with adequate manpower and resources and to prevent irregular activities such as adulteration, artificial shortage, black marketing, hoarding, and unnatural price hike.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18756', 'image' => '20230918024452_sugar.jpg', 'article_date' => '2023-09-18 14:43:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19026', 'article_category_id' => '1', 'title' => 'Spark Car to Organise 'Wild Stay with Chaunri' in Sailung', 'sub_title' => '', 'summary' => 'September 18: Spark Car, a rental car service provider, has announced to organize a Wild Stay with Chauri under the Spark Adventure 2023 in Sailung, a picturesque area in Dolakha with high potential for tourism.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">September 18: Spark Car, a rental car service provider, has announced to organize a Wild Stay with Chauri under the Spark Adventure 2023 in Sailung, a picturesque area in Dolakha with high potential for tourism.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Last year, the first edition of Spark Adventure was conducted in Bhujung, Lamjung, by harvesting bee honey. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The program coordinator Amardeep Bhattarai informed that the second edition is being organized with a focus on Sailung on the border of Dolakha and Ramechhap to promote tourism.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Coordinator Bhattarai announced the participation of various celebrities including Captain Vijay Lama and singer Yash Kumar as well as administrative officials, and security agency personnel in the Spark Adventure, scheduled to be held from September 28 to 30.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, this adventure is ideal for those who seek to explore domestic tourism, spend a night in the forest with yaks, immerse themselves in local culture, relish delicious cuisine, and discover picturesque rural destinations.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The registration fee to participate in the program is Rs 30,000.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18755', 'image' => '20230918013152_Spark_car.jpg', 'article_date' => '2023-09-18 13:31:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19025', 'article_category_id' => '1', 'title' => 'Esewa Money Transfer to Continues its ‘Mero Digital Desh’ Initiative ', 'sub_title' => '', 'summary' => 'September 18: Esewa Money Transfer, one of the leading digital remittance company of Nepal operating under the stewardship of fintech company F1Soft Group, has announced to continue its initiative “Mero Digital Desh” in order to promote formal remittance and make people aware of the advantages of sending money through digital channels. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 18: Esewa Money Transfer, one of the leading digital remittance company of Nepal operating under the stewardship of fintech company F1Soft Group, has announced to continue its initiative “Mero Digital Desh” in order to promote formal remittance and make people aware of the advantages of sending money through digital channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Under this initiative, eSewa has launched ‘Win Your Dream Home’ campaign starting from September 18 September. The 10-month campaign will end on 16 July 2024, reads a statement issued by eSewa Money Transfer. According to the company, Nepalese nationals working and residing in any country across the world can be a part of this campaign by sending remittances directly to the eSewa wallet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Esewa Money Transfer signed an agreement with eSewa in this regard. As per the company, each month, one lucky winner will receive twice the amount they initially sent as remittance. Additionally, four individuals will be given special prizes throughout the campaign, and ultimately, one lucky winner will get a brand-new house in Kathmandu as the bumper prize. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking about the initiative, Subash Sharma, director of F1Soft Group, said, "This initiative symbolizes our appreciation for the dedication and sacrifices made by Nepalese individuals employed overseas. The ultimate aspiration for every Nepalese working abroad is to build a house in Kathmandu. And, through this campaign, we will be able to fulfill the dream of at least one person.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Daniel D Shrestha, group strategy director of F1Soft Group, emphasized the significant contribution of Esewa Money Transfer for economic development since its inception. He added that the main motive of this initiative is to keep the money sent through remittance, circulated in the digital ecosystem. He shared the examples of foreign reserves crisis seen in south Asian countries like Sri Lanka and Pakistan where informal remittances had posed a great challenge. Shrestha stressed the need to consistently educate and aware the Nepali community regarding the importance of formal and digital remittance as it has multiple benefits for the economy both in short term and long term.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Jagdish Khadka, CEO of eSewa stated that this initiative will enable individuals to transfer funds from overseas to Nepal in a matter of minutes, revolutionizing the remittance process. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“We firmly believe that this innovative undertaking will bring about a positive transformation in the country's economy and elevate the quality and reliability of remittance services.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal’s legendary cine artist Rajesh Hamal is promoting the campaign in national and international awareness events related to digital remittance. Also, popular actress Swastima Khadka is set to remain an essential part of numerous promotional activities as part of this initiative, the company said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18754', 'image' => '20230918123327_PR Photo .jpg', 'article_date' => '2023-09-18 12:32:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19024', 'article_category_id' => '1', 'title' => 'Current Account and Balance of Payments in Surplus', 'sub_title' => '', 'summary' => 'September 17: The country’s current account remained at a surplus of Rs 12.99 billion in the first month of the current fiscal year against a deficit of Rs 15.13 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px">September 17: The country’s current account remained at a surplus of Rs 12.99 billion in the first month of the current fiscal year against a deficit of Rs 15.13 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">According to the Current Macroeconomic and Financial Situation Report of Nepal published by the Nepal Rastra Bank (NRB), the current account in terms of US dollar registered a surplus of 98.5 million in the review period against a deficit of 118.8 million in the same period last year.</span></p> <p><span style="font-size:18px">In the review period, capital transfer decreased 65.9 percent to Rs 272.6 million and net foreign direct investment (FDI) remained a positive of Rs 2.65 billion. In the same period of the previous year, capital transfer amounted to Rs 800.3 million and the net FDI amounted to a negative of Rs 1.40 billion, added the report.</span></p> <p><span style="font-size:18px">According to the central bank, Balance of Payments (BOP) remained at a surplus of Rs 32.90 billion in the review period against a deficit of Rs 19.76 billion in the same period of the previous year. In the US Dollar terms, the BOP remained at a surplus of 249.5 million in the review period against a deficit of 155.2 million in the same period of the previous year.</span></p> <p><span style="font-size:18px">Similarly, the gross foreign exchange reserves increased 2.2 percent to Rs 1573.12 billion in mid-August 2023 from Rs 1539.36 billion in mid-July 2023. In the US dollar terms, the gross foreign exchange reserves increased 1.2 percent to 11.85 billion in mid-August 2023 from 11.71 billion in mid-July 2023. Of the total foreign exchange reserves, reserves held by NRB increased 2.9 percent to Rs 1385.24 billion in mid-August 2023 from Rs 1345.78 billion in mid-July 2023, added the latest report.</span></p> <p><span style="font-size:18px">Similarly, the reserves held by banks and financial institutions (except NRB) decreased 2.9 percent to Rs 187.89 billion in mid-August 2023 from Rs 193.59 billion in mid-July 2023. The share of Indian currency in total reserves stood at 21.9 percent in mid-August 2023.</span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18753', 'image' => '20230918114232_20230917100940_20230509025612_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-09-18 11:40:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19023', 'article_category_id' => '1', 'title' => 'Devotees Throng Shiva Temples on the Occasion of Teej Festival', 'sub_title' => '', 'summary' => 'September 18: Devotees are thronging temples across the country including the Pashupatinath Temple in the federal capital on the occasion of Haritalika Teej festival. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 18: Devotees are thronging temples across the country including the Pashupatinath Temple in the federal capital on the occasion of Haritalika Teej festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All four doors of the Pashupatinath temple were opened at 3:00 am early this morning for the devotees coming to pay obeisance to Lord Shiva marking the Teej festival, said head of Culture Preservation Division of Pashupati Area Development Trust, Gaurishankar Parajuli. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Four queues have been arranged for the devotees coming to the Pashupatinath temple. Only women devotees were allowed to enter the main temple of Pashupatinath after 6:00 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to PADT, security arrangements have been made in coordination with all the four security agencies on the temple premises. Services such as health camps, free water distribution, search and rescue centers have also been arranged in Pashupati area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Kathmandu valley, devotees have been gathering at temples in Gokarneshwar, Doleshwar, Nageshwar, Basantpur and the Makhan Mahadev Temple, known as small Pashupatinath Temple. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18752', 'image' => '20230918111753_HB_KTM-_IMG_1689.jpg', 'article_date' => '2023-09-18 11:17:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19022', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Declines Marginally', 'sub_title' => '', 'summary' => 'September 18: Nepal’s trade deficit decreased 0.7 percent to Rs 115.71 billion during the first month of the current fiscal year (FY 2023/24), according to the latest report of Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px">September 18: Nepal’s trade deficit decreased 0.7 percent to Rs 115.71 billion during the first month of the current fiscal year (FY 2023/24), according to the latest report of Nepal Rastra Bank.</span></p> <p><span style="font-size:18px">The Current Macroeconomic and Financial Situation Report published by NRB on Sunday states that such a deficit had decreased 10.4 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">The report added that the export-import ratio decreased to 10.5 percent in the review period from 11.3 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">During the first month of FY 2023/24, merchandise exports decreased 8.7 percent to Rs 13.53 billion compared to a decrease of 28.7 percent in the same period of the previous year.</span></p> <p><span style="font-size:18px">Destination-wise, exports to India decreased 20.8 percent whereas exports to China and other countries increased 527.2 percent and 15.4 percent respectively.</span></p> <p><span style="font-size:18px">Exports of cardamom, zinc sheet, particle board, juice, ginger, among others increased whereas exports of palm oil, soybean oil, medicine (Ayurvedic), pashmina, silverware and jewelries, among others decreased in the review period.</span></p> <p><span style="font-size:18px">During the first month of FY 2023/24, merchandise imports decreased 1.6 percent to Rs 129.24 billion compared to a decrease of 12.9 percent a year ago.</span></p> <p><span style="font-size:18px">Destination-wise, imports from India and China increased 3.3 percent and 17.0 percent respectively while imports from other countries decreased 23.1 percent. Imports of rice, paddy, MS wire rod, bars, coils, chemical fertilizer, hot rolled sheet in coil, electrical goods, among others increased whereas imports of petroleum products, crude soybean oil, crude palm oil, medicine, MS billet, among others decreased in the review period.</span></p> <p><span style="font-size:18px">Based on customs points, exports from Bhairahawa, Dry Port, Jaleswar, Kanchanpur, Krishnagar, Mechi, Nepalgunj, Rasuwa and Tribhuwan International Airport customs offices increased whereas exports from all the other major customs points decreased in the review period.</span></p> <p><span style="font-size:18px">On the import side, imports from Bhairahawa, Dry Port, Jaleshwar, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period.</span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18751', 'image' => '20230918104033_20230917100315_20220712103532_Trade.jpg', 'article_date' => '2023-09-18 10:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19021', 'article_category_id' => '1', 'title' => 'Karnali Government to Offer 17 Types of Subsidies to Farmers', 'sub_title' => '', 'summary' => 'The Karnali province government has announced its plan to provide 17 different types of subsidies this year in an effort to support and motivate farmers within the province.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">September 18: The Karnali province government has announced its plan to provide 17 different types of subsidies this year in an effort to support and motivate farmers within the province. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">These subsidies will be distributed as part of the approved program for the current fiscal year, 2080-81.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">According to the provincial Directorate of Agriculture, these subsidies are open for application to farmers involved in agricultural business groups, agricultural cooperatives, entrepreneurs, and private firms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">The directorate has emphasized that agricultural subsidies will be specifically targeted towards Dalit women and individuals belonging to backward classes as part of the income generation program.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">The subsidies will include a range of initiatives, including support for income-generating programs for people with disabilities, promotion of pulse crop cultivation, and the distribution of advanced seeds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Chitra Bahadur Rokaya, Acting Director of the Directorate, highlighted that subsidies will also be extended to food crop seed production, beekeeping, tea cultivation, and the advancement of commercial agro businesses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Furthermore, the directorate intends to provide subsidies for land rent and electricity tariffs. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">Rokaya elaborated that support will also be allocated for the selection, training, and engagement of agricultural technicians.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">To be eligible for these subsidies, interested parties must meet specific criteria outlined in a notice issued by the directorate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:19.0pt">This includes providing official registration details of their organizations and firms, as well as details about their agricultural business schedules and other requisite documentation. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18750', 'image' => '20230918065412_collage (1).jpg', 'article_date' => '2023-09-18 06:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19020', 'article_category_id' => '1', 'title' => 'Deposit Collection Drops by 2.3%; Credit Flow Falls by 0.1%', 'sub_title' => '', 'summary' => 'In the first month of the current fiscal year of 2023/2024, the deposit collection of banks and financial institutions decreased by 2.3 percent, and the loan flow dipped by 0.1 percent.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 18: In the first month of the current fiscal year of 2023/2024, the deposit collection of banks and financial institutions decreased by 2.3 percent, and the loan flow dipped by 0.1 percent. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The report published by Nepal Rastra Bank on the Macroeconomic and Financial Conditions on Sunday showed the fall of deposit collection and loan disbursement in the first month of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On year on year basis(y-o-y), the growth rate of deposits is 11.9 percent, and the growth rate of loans disbursed in the private sector is reported to be 3.8 percent, according to the central bank.</span></span></p> ', 'published' => true, 'created' => '2023-09-18', 'modified' => '2023-09-18', 'keywords' => '', 'description' => '', 'sortorder' => '18749', 'image' => '20230918063918_collage.jpg', 'article_date' => '2023-09-18 06:36:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19019', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Drops in First Month of Current FY', 'sub_title' => '', 'summary' => 'September 17: The year-on-year (y-o-y) consumer price inflation in Nepal stood at 7.52 percent in mid-August 2023 compared to 8.26 percent a year ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 17: The year-on-year (y-o-y) consumer price inflation in Nepal stood at 7.52 percent in mid-August 2023 compared to 8.26 percent a year ago.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), food and beverage inflation stood at 8.95 percent whereas non-food and service inflation stood at 6.42 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 45.56 percent, cereal grains and their products 13.20 percent, milk products and eggs 12.19 percent, restaurant and hotel 11.05 percent and vegetable 10.80 percent while the y-o-y price index of ghee and oil sub-category decreased 15.13 percent, states the Current Macroeconomic and Financial Situation Report published by NRB on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, y-o-y price index of recreation and culture sub-category increased 15.55 percent, education 9.10 percent, housing and utilities 6.93 percent and furnishing and household equipment 6.79 percent while y-o-y price index of transportation sub-category decreased 0.81 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, y-o-y consumer price inflation in the Kathmandu Valley, Terai, hill and mountain regions stood at 8.50 percent, 6.70 percent, 7.50 percent and 11.46 percent respectively. Inflation in these regions were 7.39 percent, 8.72 percent, 8.64 percent and 6.64 percent respectively a year ago.</span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18748', 'image' => '20230917101520_20230710030747_Inflation1.jpg', 'article_date' => '2023-09-17 22:14:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19015', 'article_category_id' => '1', 'title' => 'Cabinet Accepts USD 6 Million in Loan for Prefeasibility Study of Upper Arun Project ', 'sub_title' => '', 'summary' => 'September 17: The Council of Ministers on September 15 decided to accept USD 6 million in concessional loan from the World Bank (WB) for prefeasibility study of the Upper Arun Hydropower Project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 17: The Council of Ministers on September 15 decided to accept USD 6 million in concessional loan from the World Bank (WB) for prefeasibility study of the Upper Arun Hydropower Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing the media about the cabinet meeting's decisions, Minister for Communications and Information Technology and government spokesperson Rekha Sharma said a decision has also been taken to submit the BIMSTEC Charter to the Federal Parliament for its ratification. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Cabinet meeting also decided to form a five-member committee on tax system reforms under the leadership of former minister Bidhyadhar Mallik. The government had made such announcement through the budget speech of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Baburam Panta has been appointed the Chairman of Industrial District Management Limited, added Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to ease the supply of sugar by giving customs duty exemption in view of the upcoming festive season. The Council of Ministers also decided to allow the Salt Trading Corporation and Food Management and Trading Company Limited to import 10,000 metric tonnes of sugar each by waiving 50 per cent of the customs tariffs, according to Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the cabinet meeting decided to put on hold the distribution of decorations and medals for some time. The Council of Ministers has decided to form a taskforce mandated to submit a report within three months by carrying out studies on different international practices on decorations and medal distributions to establish its pride and institutionalize the nation's dignity. The standards for the distribution of decorations and medals would be prepared based on the recommendations of the taskforce and the distribution of the medals to be given away by the president on the occasion of the Constitution Day would be postponed until the standards are prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Irrigation Policy- 2080 and Nepali Citizenship (Third Amendment) Regulation-2080 has been approved by the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Cabinet meeting has entrusted the Division Forest Office with the responsibility of management of Jatamasi plant (Spikenard). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Permission has been granted to use a total of nine hectare of national forest area at ward no 5 of Bagmati Rural Municipality in Makawanpur district and ward no 6 of Mahankal Rural Municipality in Lalitpur district for the construction of infrastructures related to the Super Lower Bagmati Hydro Power Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government granted permission to the Nepali delegation led by the Minister for Finance to participate in the annual meetings of the World Bank Group and International Monetary Fund to be held in Morocco. Approval has also been granted to the Minister for Youth and Sports and the Sports Secretary to participate in the 19th Asian Games to be held in Hangzhou City, China. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18744', 'image' => '20230917095501_20230306031824_Clipboard32.jpg', 'article_date' => '2023-09-17 21:54:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19014', 'article_category_id' => '1', 'title' => 'Bhatbhateni Store at Pulchok Fined Rs 100,000 for Selling Date-Expired Food Stuffs ', 'sub_title' => '', 'summary' => 'September 17: A joint market monitoring team in Lalitpur has fined Bhatbhateni store at Pulchok for selling date-expired food.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 17: A joint market monitoring team in Lalitpur has fined Bhatbhateni store at Pulchok for selling date-expired food. The team comprising Assistant Chief District Officer Amar Dip Sunuwar conducted the monitoring of several stores including Bhatbhateni, Bigmart and Saleways. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant CDO Sunuwar informed that Bhatbhateni store was found selling date-expired food items such as ghee and eggs. So, it was fined Rs 100,000. Similarly, Big Mart was found selling green vegetables by manipulating weighing tool. It was subjected to a fine of Rs 10,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further informed that the market monitoring was initiated in the wake of upcoming festivals. He warned that action would be taken against anyone involved in jeopardizing public health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sub-standard food items confiscated from Bhatbhateni store were disposed by the monitoring team, according to Sanjay Thapa, inspector at Small and Cottage Office, Lalitpur. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18743', 'image' => '20230917094720_70027991_vEcSy_alynxIkBYBzePg6MHnzrco-ZR2tzsSlQOvi8o.jpg', 'article_date' => '2023-09-17 21:46:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19013', 'article_category_id' => '1', 'title' => 'Ncell Celebrates its 18th Anniversary in Line with Theme 'Here for You'', 'sub_title' => '', 'summary' => 'September 17: Ncell on Sunday observed its 18th anniversary, marking 18 years of togetherness and a remarkable journey of serving Nepal with world-class telecommunications services with a local touch, enhancing connectivity, and enriching the lives of Nepali communities.', 'content' => '<p><span style="font-size:18px">September 17: Ncell on Sunday observed its 18th anniversary, marking 18 years of togetherness and a remarkable journey of serving Nepal with world-class telecommunications services with a local touch, enhancing connectivity, and enriching the lives of Nepali communities.<br /> Issuing a statement, Ncell said the company embarked on its humble journey on this day on September 17, 2005, and since then, it has been providing essential communication services, revolutionising the telecommunications industry in Nepal. Starting with reliable basic mobile services and evolving into innovative communication solutions to meet various communication needs of consumers, among other offerings, Ncell has been a beacon of progress in Nepal, added the statement.<br /> Sharing his excitement, Chief Executive Officer and Managing Director of Ncell, Jabbor Kayumov, said, “We are proud to be an integral part of over 16 million Nepalese customers of Nepal. Ncell is always here for Nepal and Nepali people, and now we are even more committed to continuing to address the needs of the country. To bring solutions that ease access to things that are difficult to get for the majority of Nepalis will be our vision. Ncell is Here for You and we are committed to many more years of togetherness.”<br /> As Ncell embarks on its new journey, it has expressed its long-term commitment to keeping its customers always connected. In line with its brand promise, ‘Today. Tomorrow. Together.’, Ncell announced the theme 'Here for You'. Under this theme, Ncell has announced a series of activities, collaborations, and programmes aimed at driving social causes and creating a meaningful impact at the community level in Nepal.<br /> On the occasion, Ncell has launched a new campaign, 'Every Customer is a Winner,' through which all Ncell customers starting September 17 receive surprise loyalty gifts for 28 days as part of the extended celebrations. In this campaign, customers who dial *17117# are eligible to get daily, weekly and bumper gifts. In daily gifts, customers get Ncell products and services without any charge. According to the company, 1000 Ncell customers will get Rs 100 balance weekly and at the end of the campaign, seven lucky customers will get 7 scooters. To be eligible to get weekly and bumper gifts, customers should have used Ncell services during the campaign period and need to send a creative slogan about Ncell or with Ncell on Ncell App or website. <br /> Under its Corporate Social Responsibility (CSR), Ncell announced its strategic partnership with the National Paralympic Committee (NPC) Nepal, in which the company will support Paralympic national players who will be representing Nepal in national and international games. As per this partnership, Ncell pledged to extend its support for ensuring the overall training and development of the national players along with their required diet and nutrition around the year. </span></p> <p><span style="font-size:18px">In its ongoing commitment to supporting the government in achieving the Sustainable Development Goals (SDGs), Ncell has prioritised CSR efforts. Over the last 18 years, the company claimed it has contributed over Rs 1.80 billion to various social causes, with a focus on areas such as education, environment, and health, among others. As one of the largest taxpayers, Ncell said it paid Rs 283 billion in taxes and fees to the government since its inception, making a significant contribution to Nepal's economy.</span></p> <p><span style="font-size:18px">“Ncell's services have not only ensured access to telecommunications services but have also played a pivotal role in the socio-economic development of the country, becoming a key enabler of the country's information and communication technology (ICT) ecosystem,” reads the statement, adding, “Some of the major milestones in Ncell's journey include easy, affordable access to mobile connections, the launch of 3G and mobile broadband Ncell Connect, innovative voice and data packs, a flat call rate of Rs. 1.99 across the country, 4G, Ncell for Business (N4B), local call rates to India, the US, and Canada, easy roaming for travelers, Ncell Saapati, and free Twitter and Wiki, all of which have transformed telecommunications in Nepal.”</span></p> <p><span style="font-size:18px">To further enhance transparency and accessibility, Ncell’s CEO has announced opening of Instagram account, allowing the general public to connect with the CEO directly. Ncell also opened the CEO's email, ceo@ncell.axiaa.com, to the general public, encouraging people to contact the CEO directly regarding any matters that require attention. <br /> “We are the first corporate house in Nepal to reach out directly to our customers and provide access to our CEO directly,” Jabbor said, adding, “Customers can reach out to me directly, and our team will ensure that we report back to our customers, contributing to building a culture of trust and transparency to enhance the customer experience.”</span></p> <p><span style="font-size:18px">With an intent to reach and connect with local people of Nepal from all the Provinces, Ncell called applications from organizations (Not for Profit) for the implementation of the projects in their community that provide local solutions to local problems. The seed fund for such community projects is Rs 1 million for each project in one community with primary focus on education and health and other areas being environment, disaster response and livelihood support programs. The eligibility criteria and process for applying for the funding is available in detail on Ncell’s website.</span></p> <p><span style="font-size:18px">In alignment with the theme 'Here for You', several other activities and events are planned for Ncell's 18th anniversary celebration. These include Health Camps in areas with low human development indices, blood donation drives, tree planting initiatives, friendly football matches at Lainchaur Ground, visits by celebrities to Ncell Centres to interact with customers, among other events, added the statement. <br /> On Sunday, September 17, members of the Executive Management Team (EMT) visited Ncell Centres and Points of Sale in different parts of the country to interact with customers and personally thank them for their love and continued support.</span></p> <p><span style="font-size:18px"> </span><br /> </p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18742', 'image' => '20230917074229_CDR65392.jpg', 'article_date' => '2023-09-17 19:41:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19012', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases by 25 Percent in First Month of Current FY', 'sub_title' => '', 'summary' => 'September 17: The inflow of remittance into Nepal in the first month of the current fiscal year increased by 25.8 percent compared to an increase of 20.3 percent in the same period of the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 17: The inflow of remittance into Nepal in the first month of the current fiscal year increased by 25.8 percent compared to an increase of 20.3 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Current Macroeconomic and Financial Situation Report published by Nepal Rastra Bank (NRB) on Sunday, the remittance inflow between mid-July and mid-August in the current fiscal year stood at Rs 116.02 billion</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of the US dollar, remittance inflow increased 21.5 percent to 879.8 million in the review period compared to an increase of 12.5 percent in the same period of the previous year, reads the NRB report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the number of Nepali workers (institutional and individual) taking new approval for foreign employment decreased 12.1 percent to 39,152 in the review period. The number of Nepali workers renewing their work permits for foreign employment decreased 19.5 percent to 16,423 in the review period. It had increased 75.4 percent in the same period of the previous year, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the net transfer increased 26.1 percent to Rs 128.21 billion in the review period. Such a transfer had increased 18.4 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18741', 'image' => '20230917061139_Remittance.jpg', 'article_date' => '2023-09-17 18:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19011', 'article_category_id' => '1', 'title' => 'Microfinance Companies Struggling to Recover Debts', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px">September 17: Microfinance companies have been providing loans against collateral as well as collateral-free loans by forming groups of poor and underprivileged people. The microfinance companies are currently struggling to recover their loans.</span></p> <p><span style="font-size:18px">Due to the decline in economic activities, the ability of the borrowers to pay their debts has decreased, while the non-payment movement has caused problems in debt recovery.</span></p> <p><span style="font-size:18px">The debt recovery has been affected due to the fact that the same person has been taking loans from more than one organization and investing in non-productive sectors.</span></p> <p><span style="font-size:18px">As the loan recovery has been affected, the bad loans of microfinance companies have increased significantly. According to the data of Nepal Rastra Bank, the average bad loans of microfinance companies was 2.97 percent in June 2021. By March 2022, bad loans reached 7.43 percent. Although the official data has not been published, it is estimated that the bad loans of microfinance companies have reached about 10 percent in June 2023.</span></p> <p><span style="font-size:18px">The Nepal Rastra Bank in June issued instructions and extended the deadline of repayment of loans of the customers who could not pay their loans to the microfinance companies by one year.</span></p> <p><span style="font-size:18px">The central bank had made an arrangement to restructure the loans for the active borrowers of microfinance companies, allowing them to pay a minimum interest amount of 5 percent of the outstanding interest to reschedule the loan.</span></p> <p><span style="font-size:18px">Janadarn Dev Pant, chief executive officer of Nirdhan Utthan Lagubitta Bittiya Sansthan, says that if the rescheduling facility is not provided, the ratio of bad loans of microfinance companies will double.</span></p> <p><span style="font-size:18px">"The concession given by the central bank has made it easier for microfinance companies to manage bad loans," he said.</span></p> <p><span style="font-size:18px">As of March last year, there were 5.99 customers of 63 microfinance companies, and the number of borrowers stood at 3.1 million. Microfinance institutions have invested a total of Rs 441 billion in loans.</span></p> <p><span style="font-size:18px">The central bank had formed a task force under the coordination of the Executive Director of the Economic Research Department of NRB, Dr Prakash Kumar Shrestha in the month of Shrawn (mid-July to mid-August) after the members of microfinance companies protested saying that they were suffering from the operators of microfinance companies. </span></p> <p><span style="font-size:18px">Although the task force has submitted a preliminary report, it is working with a deadline extension till mid-September.</span></p> <p><span style="font-size:18px">Lately, the microfinance companies have not been strict in debt recovery due to the customers’ agitation. Microfinance institutions have not carried out activities such as putting unnecessary pressure on those who do not pay their loans.</span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18740', 'image' => '20230917053953_Bad Loan.jpg', 'article_date' => '2023-09-17 17:38:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19010', 'article_category_id' => '1', 'title' => 'Securities Board to Review Brokers’ Commission', 'sub_title' => '', 'summary' => 'September 17: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has said that SEBON is preparing to review the brokers’ commission. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">September 17: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has said that SEBON is preparing to review the brokers’ commission. He also said that the broker commission will be reviewed in such a way that the securities broker companies will not suffer. Speaking at an interaction program on Capital Market: Possibilities and Challenges held in Kathmandu on Friday, Chairman Hamal said that broker companies are the heart of the capital market and that the commission will be reviewed in a way that they will not suffer. He also mentioned that the board's commission will be reduced before the broker's commission is reduced.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal said that SEBON is going to review the brokers’ commission keeping in mind the interests of the common investors. Hamal informed that he has discussed the matter of reducing broker commission in depth with the broker companies and expressed his commitment that the commission will be reviewed so that no one in the market is be at a loss.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal opposed the 10-share policy in the initial public offering (IPO). Hamal also pointed out the need to strengthen the positive aspects of this policy and to review the negative aspects.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He has accepted that the capital market has reached many investors due to the 10 per cent policy. Hamal said that in the future, the board will give priority to raising institutional investors in the securities market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Hamal also informed that the study committee formed by the board on the issue of allowing non-resident Nepalis to enter the securities market has already prepared the necessary report and the necessary law-making work is underway. Informing that the board is preparing to implement a new system for the right shares, Hamal said that the qualifications of independent directors of listed companies will also be determined.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In response to the question of whether the board can take action against the companies whose share prices in the secondary market have dropped below the premium price, Mukti Shrestha, the executive chairman of the board, said that although the board will approve good companies to issue IPOs at a premium price, the board will not force investors to buy shares of those companies. Shrestha believes that the investors themselves should take responsibility for the risk in the secondary market from the decision to purchase the IPO.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">While the board is saying that it is studying the matter of reducing the broker commission, the representatives of the broker companies have requested not to reduce it. Chairman of Stock Brokers Association Dharmaraj Sapkota and Secretary General of Securities Stock Brokers Association Krishna Giri said that the brokers are running at a loss in the current situation and requested not to review the commission.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">General Secretary Giri suggested that when new broker companies have just entered the securities market, they should be evaluated for a few years first.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">President Sapkota said that in the case of old broker companies, there are some technical difficulties in providing margin loans and the board should solve those difficulties.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-17', 'modified' => '2023-09-17', 'keywords' => '', 'description' => '', 'sortorder' => '18739', 'image' => '20230917044613_Sebon-update.jpg', 'article_date' => '2023-09-17 16:45:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
