September 12: A groundbreaking ceremony was held for the development of the country's largest hydropower project to be built with the foreign direct investment (FDI) on…
September 12: A groundbreaking ceremony was held for the development of the country's largest hydropower project to be built with the foreign direct investment (FDI) on…
September 12: The registration of private and public limited companies will be available online from October…
September 12: While the debate is going on about the formation of 'Second Tier Institution (STI)' to monitor and supervise savings and credit cooperatives, Nepal Rastra Bank (NRB) is under increasing pressure to monitor the cooperatives with large…
September 12: The Cooperative Sector Reform Suggestion Taskforce submitted its report to Prime Minister Pushpa Kamal Dahal on…
September 12: Prime Minister Pushpa Kamal Dahal on Monday held a meeting with heads and representatives of Nepali diplomatic missions abroad, with focus on the labour migration issues and possible ways for addressing…
September 12: Prime Minister Pushpa Kamal Dahal has directed Nepal Electricity Authority (NEA) to not stop electricity supply to the industries until the dispute over the tariff related to dedicated feeder and trunk line is resolved.…
September 12: Constituent Assembly Chairperson and Vice-Chairperson of the CPN-UML Subas Chandra Nembang passed away this morning due to heart…
Mugu district of Karnali Province has been connected to the national grid with the expansion of electricity to the district headquarters, Gamgadhi…
The Nepal Stock Exchange(NEPSE) Index gained 44.30 points or 2.28% and closed at 1986.99 points on the second trading day of the week,…
MAW Expanze Pvt. Ltd, the authorized distributor of ŠKoda in Nepal, has set the stage for a new era of automotive excellence with the official launch of the all-new ŠKoda Slavia…
September 11: The interest of investors in the shares of commercial banks, which were once considered attractive in the secondary market of securities, has been declining over the past few years.…
September 11: Stakeholders have emphasized the need for cooperation between women entrepreneurs of Nepal and India for skill development, marketing and technology…
September 11: After two weeks of budget holiday in Koshi Province, the government led by newly appointed Chief Minister Hikmat Karki has issued Economic Ordinance 2080 and Appropriation Ordinance 2080 to remove this…
September 11: The government has suffered a serious setback from Pokhara Regional International Airport (PRIA) built with Chinese investment.…
September 11: The Confederation of Nepalese Industries (CNI) has suggested the government to formulate the 16th five-year plan by giving priority to domestic production, import substitution and job…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: A groundbreaking ceremony was held for the development of the country's largest hydropower project to be built with the foreign direct investment (FDI) on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Energy Minister Shakti Bahadur Basnet laid the foundation stone of the 216-megawatt Upper Trishuli-1 Hydropower Project , which is being developed for domestic consumption with FDI from a Korean company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The dam and physical structures of the project are located at Haku village of Amachhodingmo Rural Municipality-1 while the underground powerhouse lies at Uttargaya Rural Municipality in Rasuwa district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the groundbreaking ceremony, Minister Basnet said the government is creating investment-friendly environment to lure international and domestic investors and to achieve economic prosperity in the country through hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The main investor of the project is South-East Power of Korea. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President and Chief Executive Officer of South-East Power Hau Chun Kim said development of the project would be instrumental to achieve economic prosperity by exporting surplus power to the neighboring countries and minimizing climate change impacts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Development of the project started in 2020 and the overall physical progress of the project is 22 per cent so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the dam under this project shall start after the monsoon is over. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total cost of the project is estimated to be US$ 647.3 million. Nine international financial institutions have agreed to invest US$ 453.2 million. The remaining amount will be managed through equity. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-13', 'keywords' => 'Trishuli, hydropower, project, foundation, FDI, Nepal, Korea', 'description' => '', 'sortorder' => '18706', 'image' => '20230912091454_20230306031824_Clipboard32.jpg', 'article_date' => '2023-09-12 21:13:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18975', 'article_category_id' => '1', 'title' => 'Online Registration of Companies from October 2 ', 'sub_title' => '', 'summary' => 'September 12: The registration of private and public limited companies will be available online from October 2. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: The registration of private and public limited companies will be available online from October 2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to deputy registrar at the Office of the Company Registrar, Shekhar Babu Karki, the office is switching to online registration to make its services prompt, reliable and technology-friendly. However, the renewal procedures are to continue physically for the time being until the office prepares online service for renewal. Karki said it will take some time to adjust the new software to launch online service for the renewal. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> It may be noted that the government is in the course of implementing its paperless governance concept with the use and promotion of information technology. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18704', 'image' => '20230912054433_on.jpg', 'article_date' => '2023-09-12 17:43:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18973', 'article_category_id' => '1', 'title' => 'NRB Under Pressure to Monitor Large Cooperatives', 'sub_title' => '', 'summary' => 'September 12: While the debate is going on about the formation of 'Second Tier Institution (STI)' to monitor and supervise savings and credit cooperatives, Nepal Rastra Bank (NRB) is under increasing pressure to monitor the cooperatives with large transactions.', '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 12: While the debate is going on about the formation of 'Second Tier Institution (STI)' to monitor and supervise savings and credit cooperatives, Nepal Rastra Bank (NRB) is under increasing pressure to monitor the cooperatives with large transactions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has mentioned in the budget for the current fiscal year that specialized regulatory agencies will be established and put into operation to make the regulation and supervision of cooperatives effective. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Associations and federations of cooperatives are also 'lobbying' for the formation of a separate regulatory body in line with the budget announcement. This issue was also discussed by the Cooperative Sector Reform Suggestion Taskforce. However, after the Asia Pacific Group (APG) under the Financial Action Task Force (FATF), an organization working to prevent money laundering, mentioned in its report that the monitoring of large trading institutions should be done through the central bank, Nepal Rastra Bank is under pressure to undertake the job. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the mutual evaluation report published by APG recently, it has been mentioned that the cooperatives whose main transactions are savings and loans of more than Rs 50 million annually should be monitored and supervised by the Department of Cooperatives, the central bank and the financial information unit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tolraj Upadhyay, the spokesperson of the Department of Cooperatives, says that the APG report is only a suggestion for the government and its implementation is not binding. </span></span></span></span></p> <p><span style="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 APG suggested, the government is under moral pressure, but there isn’t any obligation to implement the suggestion," he told New Business Age. He said that the monitoring body of cooperatives is being discussed in the ministry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last November, the APG, which had conducted an on-site study, submitted a report to the government stating that the monitoring and supervision of cooperatives was weak and the risk of preventing money laundering was high. Based on the report, the government in January registered a bill in Parliament to amend some laws related to prevention of money laundering and promotion of business environment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meenraj Kandel, president of the National Cooperative Federation, says it would be more effective to form a separate organization to monitor cooperatives instead of giving the responsibility to the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the lack of effective monitoring and supervision of these institutions, the savings of common people are at risk. Sudarshan Dhakal, the former registrar of the Department of Cooperatives, says that Nepal Rastra Bank cannot shy away from the responsibility of monitoring cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18702', 'image' => '20230912034106_20230619074931_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-12 15:40:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18972', 'article_category_id' => '1', 'title' => 'Cooperative Sector Reform Suggestion Taskforce Submits Report to PM Dahal ', 'sub_title' => '', 'summary' => 'September 12: The Cooperative Sector Reform Suggestion Taskforce submitted its report to Prime Minister Pushpa Kamal Dahal on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: The Cooperative Sector Reform Suggestion Taskforce submitted its report to Prime Minister Pushpa Kamal Dahal on Tuesday, according to Secretary at the Ministry of Land Management, Cooperatives and Poverty Alleviation, Gokarna Mani Duwadi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held on May 9 had formed the Cooperative Sector Reform Suggestion Taskforce under the coordination of National Planning Commission member, Dr Jaykant Raut. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The taskforce submitted the report to the government along with measures for the solution to the problems seen in the cooperative sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Duwadi shared that the taskforce has suggested to the government to bring some plans in order to give immediate relief to the victims of cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, it also suggested the government to take initiatives to resolve problems of the cooperative sector by making some legal reforms. "The report has short-term, mid-term and long-term suggestions," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Receiving the report, Prime Minister Dahal directed the bodies concerned to take initiative in order to resolve the problems of the cooperative sector, and to formulate necessary policy for the long-term solution to the problems, said Secretary Duwadi. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18701', 'image' => '20230912024644_Cooperative.jpg', 'article_date' => '2023-09-12 14:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18971', 'article_category_id' => '1', 'title' => 'PM Dahal holds Consultation with Nepal's Envoys to Discuss Issues of Labour Migration ', 'sub_title' => '', 'summary' => 'September 12: Prime Minister Pushpa Kamal Dahal on Monday held a meeting with heads and representatives of Nepali diplomatic missions abroad, with focus on the labour migration issues and possible ways for addressing them. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Prime Minister Pushpa Kamal Dahal on Monday held a meeting with heads and representatives of Nepali diplomatic missions abroad, with focus on the labour migration issues and possible ways for addressing them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, diplomatic mission chiefs for 13 countries put their views on the labor migration issues and their probable solutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Kewal Prasad Bhandari, gave his brief presentation that centered on labor migration issues, elucidating roles that diplomatic channels can play to mitigate these challenges. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentations highlighted various multi-dimensional aspects of labor migration including the current state of labour market and migration trends, the significance of remittance and its substantial impact, bilateral labour agreement and understanding, guideline on foreign employment demand attestation, the provision of shelter and support for migrants, labor permit issue, management of local employees, organizational arrangements and status of labour attachés, E-7 visa (specific activity) for South Korea, provision of Japan's specified skilled workers, and archiving of those labor migrants missing in the official records. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentation also sheds light on relief and rescue operations, as well as charitable efforts, the current status of legal defense mechanisms for labor migrants, labor relations and challenges, issues concerning domestic help and their working conditions, affiliation of migrants with the Social Security Fund, attestation of specified labor skills, training programs, and language proficiency, maximum consultancy fees for labor migration consultants, official channels for the entry and regulation of remittance flows, travel arrangements facilitated by travel agencies, possibilities for new labor destinations and expansion of the labor market and so on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentation included subjects ranging from issues of domestic workers to supply of workers as per the agreement between the governments of concerned countries, association with the social security fund, specialised labour, skills, training and test of language, service fees for counseling, bringing in remittance inflow through a formal channel, educational counseling, problems in the process of going for foreign employment, the potential of new labour destinations and labour market and expected achievements and results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The top 10 destinations for labour immigration for Nepali nationals are Qatar, Malaysia, Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, South Korea, Oman, Japan and Rumania. Similarly, the concept paper identified various problems faced by Nepali migrant workers at foreign jobs and offered alternatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The interaction, which will conclude on later today (Tuesday), will discuss an array of subjects ranging from demand letter verification to cheating in foreign employment, problems faced by workers at workplace, human trafficking, problems faced by Nepali workers at foreign jobs without proper documentation, the situation and problem of the free visa and free ticket scheme, e-visa, problems of seasonable visa, the effectiveness of diplomatic missions, and the methods to make labour immigration safe, respectable and credible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Others present on the occasion were Deputy Prime Minister and Defence Minister Purna Bahadur Khadka, Minister for Labour, Employment and Social Security Sharat Singh Bhandari, Minister for Foreign Affairs Narayan Prakash Saud, political advisor to the Prime Minister Haribol Gajurel, secretary of the government, Ambassador of Nepal to Austria Bharat Gautam, Ambassador to Oman Dornath Aryal, Ambassador to Germany Ramkaji Khadka, Ambassador to Japan Durga Prasad Subedi, Ambassador to South Korea Jyoti Pyakurel, Ambassador to Malaysia Dilli Raj Paudel and Ambassador to Qatar Naresh Bikram Dhakal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Ambassador to Bahrain Tirtha Raj Wagle, Ambassador to Pakistan Tapas Adhikari, Ambassador to Kuwait Ghana Shyam Lamsal, Ambassador to the United Arab Emirates Tej Bahadur Chhetri and Ambassador to Saudi Arabia Nawaraj Subedi separately tabled their reports on the situation of Nepali migrant workers at foreign jobs and ways to be taken to bring changes in the situation. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18700', 'image' => '20230912015255_Untitled.jpg', 'article_date' => '2023-09-12 13:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18969', 'article_category_id' => '1', 'title' => 'PM Directs NEA not to Cut Off Power Supply to Industries', 'sub_title' => '', 'summary' => 'September 12: Prime Minister Pushpa Kamal Dahal has directed Nepal Electricity Authority (NEA) to not stop electricity supply to the industries until the dispute over the tariff related to dedicated feeder and trunk line is resolved. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Prime Minister Pushpa Kamal Dahal has directed Nepal Electricity Authority (NEA) to not stop electricity supply to the industries until the dispute over the tariff related to dedicated feeder and trunk line is resolved. He said a study is being carried out to resolve the dispute over the tariff which the industries are yet to pay to the NEA. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal telephoned NEA Managing Director Kulman Ghising and issued this directive following his meeting with a delegation of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) led by its president Chandra Prasad Dhakal at the prime minister's official residence at Baluwatar on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the prime minister assured that he would take initiatives to sort out the dispute at the earliest by keeping the FNCCI, the Electricity Regulation Commission and NEA at one place. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA had on September 3 issued a notice requiring the industries to pay within 15 days their outstanding electricity tariff of the dedicated feeder and trunk line. It had warned the industries that electricity supply would be stopped if they failed to clear the dues within the deadline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNCCI has suggested to the government that special initiatives were needed to protect the industries in the present time of economic crisis when they are operating in less than 40 per cent of their capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We need support and cooperation at the present situation. Our demand is that more problems should not be created," said the FNCCI president Dhakal. FNCCI argued that the industries and businesses are facing continued crisis following the COVID-19 pandemic and the entrepreneurs would be further discouraged if power supply is cut in such a situation. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => 'electricity, tariff, dedicated, feeder, trunk, line, prime, minister, NEA, Kulman, Ghising, dues, crisis', 'description' => '', 'sortorder' => '18699', 'image' => '20230912114216_NEA_20191104081559.jpg', 'article_date' => '2023-09-12 11:41:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18970', 'article_category_id' => '1', 'title' => 'Constituent Assembly Chairperson Nembang No More', 'sub_title' => '', 'summary' => 'September 12: Constituent Assembly Chairperson and Vice-Chairperson of the CPN-UML Subas Chandra Nembang passed away this morning due to heart attack.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Constituent Assembly Chairperson and Vice-Chairperson of the CPN-UML Subas Chandra Nembang passed away this morning due to heart attack. He was 70. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang, a former Speaker of the House of Representatives (HoR), died while undergoing treatment at Tribhuvan University Teaching Hospital (TUTH) at 1.30 am today, Nembang's personal secretary Krishna Prasad Kafle told RSS. He was rushed to the hospital after complications. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushna Kamal Dahal, CPN-UML Chairperson KP Sharma Oli, Speaker Devraj Ghimire, National Assembly Chairperson Ganesh Timilsina and other parties' leaders had reached the hospital after learning that Nembang suffered a heart attack.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel has expressed grief over the untimely demise of Constituent Assembly (CA) Chairperson Nembang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The President said he was shocked by the unexpected demise of Nembang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a tweet, President Paudel expressed his tribute to Nembang and extended deep condolences to the grief-stricken Nembang family, pro-republicans and his party, CPN-UML</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nemang, who was born on March 11, 1953, had developed his image as an accommodative leader in Nepali politics. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nembang’s constituency Ilam has plunged into sorrow after the untimely passing away of the federal parliamentarian. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had regularly been elected member of parliament from Ilam constituency-2 since 2000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang, who was born in Suntalabar nearby Ilam Bazaar, joined communist politics in 2029 BS when he was a student in Ilam Campus. While advocating for political change in the country, he was imprisoned in 2033 BS on a treason case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang had served the country as a member of the National Assembly in 2048 and 2052 BS. He was the Minister for Law, Justice and Parliamentary Affairs under the Manmohan Adhikari-led communist government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had also served as the chairman of Public Accounts Committee in 2056 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Later, he served as the Speaker of reinstated parliament following the success of the People's Movement of 2062-63. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After winning election from Ilam in 2064 and 2070 BS, he had become the Chairperson of the Constituent Assembly. He had played coordinating role in promulgating the Constitution of Nepal 2015 as the chair of the Constituent Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had served the country as a Speaker for four times and was always picked to the post on consensus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The district-based political leaders, social activists and students have started paying tributes to the late leader and expressing sorrow through different media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the government has decided to perform last rites of Chairperson of the Constituent Assembly, Nembang, with state honours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the office of the Prime Minister and Council of Ministers today, expressed sorrow over the demise of leader Nembang and extended condolences to the bereaved family members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government decided to give state honours during Nembang’s funeral in recognition of his contribution to the constitution making process, said Minister for Culture, Tourism and Civil Aviation, Sudan Kirati. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The cabinet meeting also decided to give public holiday on the day the final rites of Chairperson Nembang will be performed. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18698', 'image' => '20230912124646_1694500534.subas .jpg', 'article_date' => '2023-09-12 12:45:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18968', 'article_category_id' => '1', 'title' => 'Mugu District Connected to National Grid', 'sub_title' => '', 'summary' => 'Mugu district of Karnali Province has been connected to the national grid with the expansion of electricity to the district headquarters, Gamgadhi .', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> September 11: Mugu district of Karnali Province has been connected to the national grid with the expansion of electricity to the district headquarters, Gamgadhi .</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This achievement was made possible through the construction of an approximately 85-kilometer transmission line, extending from Nagma and reaching the district headquarters, Gamgadhi, with a 33-kilovolt (kV) transmission line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">With this, 76 of the total 77 districts have been linked to the national grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Nepal Electricity Authority (NEA) has started supplying electricity to the Gamgadhi area from Sunday from the 400 kilowatts Gamgad small hydropower project. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Now, only Humla district is yet to be connected to the national grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">A survey is being conducted to connect the district to the national electricity transmission line, according to NEA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> With the access to the national grid, electrification will speed up in Mugu district, said the NEA executive director Kulman Ghising. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">There are 3,500 consumers of electricity in Mugu. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">To make power supply reliable and high-quality in Mugu, works are underway to upgrade the 11 kV substation at Gamgadhi to 33 kV, said the NEA Province Office Chief Shambhu Kusiyad Yadav. (RSS) </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18697', 'image' => '20230912055604_collage (12).jpg', 'article_date' => '2023-09-12 05:54:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18967', 'article_category_id' => '1', 'title' => 'NEPSE Index Gains Massive 44 Points; All Sectors Land in the Green', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index gained 44.30 points or 2.28% and closed at 1986.99 points on the second trading day of the week, Monday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">September 11: The Nepal Stock Exchange(NEPSE) Index gained 44.30 points or 2.28% and closed at 1986.99 points on the second trading day of the week, Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Stock market experts and seasoned investors say that the NEPSE registered the massive gains as the market has come down to the bottom or buying zone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The government decision to allow the local levels’ 60% fund to be counted as deposits has had positive effect on the market, investors say. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">During today's trading, a total of 278 scrips exchanged their hands through 37,799 transactions. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> A total of 4,742,511shares were traded, amounting to Rs. 1.51 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Salt Trading Corporation (STC) recorded the highest turnover of Rs. 6.25 crores and closed at a market price of Rs. 5,700.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Similarly, Three Star Hydropower Limited (TSHL) gained the highest 9.98%, followed by Menchhiyam Hydropower Limited (MCHL) with 9.97%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Meanwhile, Siddhartha Investment Growth Scheme - 2 (SIGS2) lost the highest 7.43% today.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">In terms of sector indices, all indices closed green with Hotel and Tourism Index gaining the most among the indices with a positive gain of 3.45 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Sensitive Index increased by 2.06%, while Float Index and Sensitive Float Index surged by 2.37% and 2.26% respectively.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18696', 'image' => '20230911045853_collage (1).jpg', 'article_date' => '2023-09-11 16:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18966', 'article_category_id' => '1', 'title' => 'ŠKoda Unveils All-New Slavia Sedan in Nepal', 'sub_title' => '', 'summary' => 'MAW Expanze Pvt. Ltd, the authorized distributor of ŠKoda in Nepal, has set the stage for a new era of automotive excellence with the official launch of the all-new ŠKoda Slavia sedan.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 11: MAW Expanze Pvt. Ltd, the authorized distributor of ŠKoda in Nepal, has set the stage for a new era of automotive excellence with the official launch of the all-new ŠKoda Slavia sedan. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Branded as 'Designed to be different,' the Slavia promises to elevate the driving experience in Nepal with its blend of cutting-edge design, advanced technology, and exceptional performance.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mr. Raunak Agarwal, Executive Director of MAW Expanze, described the Slavia as "the premium mid-size sedan made for those who want to create a distinct identity in the crowd.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Slavia 1.0 TSI packs a punch with its 1-liter, three-cylinder turbo petrol engine delivering 85 kW (115 Ps) of power and 178 Nm of torque.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It offers a choice between a 6-speed manual and a 6-speed torque converter automatic transmission, achieving impressive fuel efficiency at up to 19.47 km/l and accelerating from 0 to 100 km/h in just 10.7 seconds.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As for its dimensions, the Slavia sets itself apart as the tallest, widest, and longest sedan in its class, providing exceptional space for five adults and boasting a ground clearance of 179mm, ideal for tackling Nepal's rugged roads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Safety takes center stage with up to 6 airbags, Electronic Stability Control, Electronic Differential System, and Multi Collision Brake for added protection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additional safety features include parking sensors, automatic brake disc cleaning, a rear-view camera, and more. The Slavia has earned a prestigious 5-star rating in the Global NCAP for its safety measures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Inside, the Slavia offers a 10-inch advanced touchscreen with wireless Android Auto and Apple CarPlay, along with an 8-inch programmable digital cockpit for the driver's convenience. Rear passengers enjoy dual AC vents and dual USB ports for device charging.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ŠKoda Slavia is available in two transmission options, catering to different driving preferences and needs. For the manual transmission variant, the Slavia 1.0 TSI (MT) in the Active trim comes at a competitive price of Rs 49,40,000.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Ambition variant of the Slavia 1.0 TSI (AT) is priced at Rs 58,40,000/-. For those who desire the pinnacle of style, comfort, and advanced technology, the top-of-the-line Slavia 1.0 TSI (AT) in the Style trim is available at Rs 65,40,000/-.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18695', 'image' => '20230911042400_collage.jpg', 'article_date' => '2023-09-11 16:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '18964', 'article_category_id' => '1', 'title' => 'Investors' Attraction towards Shares of Commercial Banks Declining', 'sub_title' => '', 'summary' => 'September 11: The interest of investors in the shares of commercial banks, which were once considered attractive in the secondary market of securities, has been declining over the past few years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 11: The interest of investors in the shares of commercial banks, which were once considered attractive in the secondary market of securities, has been declining over the past few years. This is clearly evident from the data published by Nepal Stock Exchange (NEPSE) for the last three fiscal years (FY). Although the market capitalization of commercial banks is strong, the shares of commercial banks have recently taken a nosedive in the secondary market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Investor Navraj Dahal says that the investors’ attraction towards commercial banks has decreased as they are more attracted to other sectors that gives them more returns in a short period of time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, this is also due to the impact of the share mortgage loan limit. The investors are not happy with the limit of share mortgage loan fixed by the authorities. </span></span></span></span></p> <p><span style="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 investors have a perception that they can be forced to sell the shares if they take loans by keeping their shares as collateral. This has given them an impression that buying shares is not a good idea.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Many investors buy shares of commercial banks basically to take loans. It is because they believe that they will get more loans by gaining the trust of the banks. But, if the central bank makes some policy changes, they will have to sell the shares under pressure. That's why they opt for other safe areas for investment," said Dahal, adding, "Another reason is the declining dividend of commercial banks. Earlier they used to give good dividends. Currently, they are not able to do that because of the lack of business growth according to the increased capital after merger. Today, small companies give the returns that commercial banks used to give.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Another investor, Manju Parajuli, says that since the shares of commercial banks are in the hands of many people, it is not possible to make huge capital gains by manipulating them like the shares of other sectors. The latest quarterly financial statements have shown that bad loans of commercial banks have increased significantly. That is why their shares are not preferred by investors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the data of NEPSE for the last three years, it seems that the share transactions of commercial banks has decreased significantly. In the fiscal year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the share of commercial banks was 25.99 percent of the total transactions, but by the end of 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"">, it decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14.31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the commercial bank traded </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">951</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million shares worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">378</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, while in the last fiscal year, only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">217</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million shares worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66.85</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were traded.</span></span></span></span></p> <p><span style="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 shares transactions of hydropower group is increasing. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the share of this group in the total turnover was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15.27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, but it increased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27.88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, with the increase in the number of listed hydropower companies, share trading has also increased. Since the number of shares of this group of companies is low, there is also a situation where the price can be reduced by manipulation. Therefore, investors are more interested in the shares of such companies.</span></span></span></span></p> <p><span style="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 share trading of hotels and tourism groups is also increasing recently. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, this group accounted for only 0.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total turnover, which has increased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel and tourism sector, affected by the Coronavirus pandemic, has now progressed significantly. The arrival of foreign tourists also improved in April, May and June. Due to the increase in tourism activities, the business of the hotel sector has increased significantly, and the profits of these companies have also increased. This is also believed to have attracted investors. In the past few months, the share price of this group of companies has doubled.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18694', 'image' => '20230911034153_1692647212.1689909254.2023-07-21 08.58.56.jpg', 'article_date' => '2023-09-11 15:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18965', 'article_category_id' => '1', 'title' => 'Nepal-India Women Entrepreneurs Conference calls for Cooperation between Women Entrepreneurs', 'sub_title' => '', 'summary' => 'September 11: Stakeholders have emphasized the need for cooperation between women entrepreneurs of Nepal and India for skill development, marketing and technology transfer.', '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 11: Stakeholders have emphasized the need for cooperation between women entrepreneurs of Nepal and India for skill development, marketing and technology transfer. The participants of the Nepal-India International Women Entrepreneurs Conclave 2080 said that there are many similarities between the two neighboring countries and that cooperation is necessary for entrepreneurship development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the conclave in Kathmandu on Sunday, Foreign Minister NP Saud said that cooperation is necessary for the development of entrepreneurship. The conference was organized by the Central Committee of Women Entrepreneurs under the Federation of Nepalese Cottage and Small Industries (FNCSI). The event was co-organized by Indian Youth Chamber of Commerce and Global India Mission.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the program, Minister Saud said that the policy of the government is to promote, enhance and protect entrepreneurship. He said that women are coming forward not only politically but financially as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunita Dangol, deputy mayor of Kathmandu Metropolitan City, said that the metropolis has started training in every ward for the development of women's entrepreneurship. She emphasized the need to develop entrepreneurship that creates jobs. She informed that the metropolis has introduced a policy of giving up to </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""> percent tax exemption to those who want to do business. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Soni Mahato, the coordinator of the conference, said that the government should increase investment in this sector, facilitate the establishment of industries led by women, facilitate skill-based training, avail loans and support with appropriate technology, and also provide special tax exemptions in order to boost the morale of women entrepreneurs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">She said that if the government helps with tax and other issues, women will be more attracted towards domestic and small industry businesses. Women from all seven provinces of Nepal and women entrepreneurs from India who participated in the program were honored.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18693', 'image' => '20230911035447_1694387134.1 women.jpg', 'article_date' => '2023-09-11 15:54:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18963', 'article_category_id' => '1', 'title' => 'Koshi Province Issues Two Ordinances to End Budget Holiday', 'sub_title' => '', 'summary' => 'September 11: After two weeks of budget holiday in Koshi Province, the government led by newly appointed Chief Minister Hikmat Karki has issued Economic Ordinance 2080 and Appropriation Ordinance 2080 to remove this situation.', '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 11: After two weeks of budget holiday in Koshi Province, the government led by newly appointed Chief Minister Hikmat Karki has issued Economic Ordinance </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and Appropriation Ordinance </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to remove this situation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the issuance of the ordinances, the provincial government will now be able to spend and collect taxes. For the past few weeks, the government had been unable to spend and collect taxes in the current fiscal year due to constitutional hurdle.</span></span></span></span></p> <p><span style="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 Council of Ministers of the Koshi provincial government decided to present the two ordinances to the province chief Parshuram Khapung on Friday night. On Sunday, both the ordinances were issued by provincial chief Khapung. </span></span></span></span></p> <p><span style="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 ordinances brought earlier by the Koshi provincial government for the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23</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"">24 was not passed by the State Assembly and became automatically null and void. Both the ordinances issued on June 14 became null and void on August 27.</span></span></span></span></p> <p><span style="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 provincial budget was frozen since August 27 after the Supreme Court scrapped the Uddhav Thapa-led government and ordered it not to make any long-term decisions. The new ordinances were issued again after the Hikmat Karki-led government was formed recently.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">CPN-UML filed a writ in the Supreme Court questioning the legality of the vote of confidence taken by Thapa. On August 24, a single bench of Justice Ishwar Prasad Khatiwada issued an order in the name of the province government not to make any long-term decisions. </span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18692', 'image' => '20230911031829_1694387051.1 koshi.jpg', 'article_date' => '2023-09-11 15:17:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18962', 'article_category_id' => '1', 'title' => 'Government to Propose Pokhara Airport's Debt Waiver during PM’s Upcoming China Visit', 'sub_title' => '', 'summary' => 'September 11: The government has suffered a serious setback from Pokhara Regional International Airport (PRIA) built with Chinese investment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 11: The government has suffered a serious setback from Pokhara Regional International Airport (PRIA) built with Chinese investment. The setback is mainly due to the government’s inability to make the airport commercially viable. The PRIA was built with loan investment of Rs 22 billion from China.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, the government has done its homework to submit a proposal to the Chinese government for loan waiver during the upcoming state visit of Prime Minister Pushpa Kamal Dahal to China, said a highly-placed government source. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A senior official of the Office of the Prime Minister and Council of Ministers told New Business Age that the proposal related to loan waiver is being prepared in coordination with the Ministry of Foreign Affairs, Ministry of Tourism and Ministry of Finance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sources say that government officials are preparing the proposal in the context that it has been bearing the burden of paying the principal and interest of the loan due to lack of international flights at the newly built airport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In 2016, China's Exim Bank decided to provide a loan of Rs 22 billion for the construction of the airport. After that, the construction of the airport was started and it became operational from January 1 this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the agreement, the government will not have to pay the loan in the first seven years after signing the pact but the dues must be cleared within the next 20 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the government paid the first installment of 53.28 million yuan (about Rs 85 million) in April. According to the agreement, the second installment should be paid on September 18.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal has been exempted of paying interest on 25 percent of the total loan amount. The government has to pay around Rs 2 billion annually as interest and principal amount to the Exim Bank of China. Until the year 2035, installments of interest and principal amount must be paid every 6 months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Budhisagar Lamichhane, joint secretary of the Ministry of Culture, Tourism and Civil Aviation, says that in the present context, there is no situation to pay the principal and interest of PRIA from the airport’s own income.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"If the current situation continues, we will not be able to pay the debt," he said, "We will have to channel the earnings of other airports to pay for the loan."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that there is no alternative but to promote Pokhara Regional International Airport. However, after eight months of operation, regular international flights have not been taking place through the airport. There have been only two international flights from this airport so far.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The last international flight took place on September 9. A plane from Bhutan landed at the Pokhara Airport with three passengers from Paro Airport. Shortly thereafter, the aircraft returned to Bhutan carrying 42 American tourists.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, a Sichuan Airlines aircraft landed in Pokhara carrying 84 Chinese people who were participating in the Dragon Boat Race Festival on June 21.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is also confusion regarding the loan given by China to Pokhara International Airport. China calls it the flagship project under its 'Belt and Road Initiative'. The spokesperson of the Chinese Embassy in Nepal congratulated the Government of Nepal and the people of Nepal on the day of the inauguration of the airport and said, “Pokhara International Airport is a major project of Nepal-China BRI cooperation. Hearty congratulations to the government of Nepal and the people of Nepal.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to high-ranking sources, the government is also preparing a proposal seeking loan waiver of Chinese built Harbin aircraft that are currently grounded.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prime Minister Dahal on Sunday called for an all-party meeting to discuss his impending visit to China. The discussion held at the Prime Minister's Office, Singh Darbar, was attended by former prime ministers, leaders of major political parties represented in the Parliament, the foreign minister, and the former foreign ministers. During the meeting, they suggested to pay attention to the issue of balanced neighborhood policy and development. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => 'Pokara, airport, international, Nepal, china, loan, debt, interest, commercial, viable, BRI, belt, road, initiative, visit,, PM, prime, minister, waiver', 'description' => '', 'sortorder' => '18691', 'image' => '20230911010634_Pokhara-Airport 800.jpg', 'article_date' => '2023-09-11 13:03:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18961', 'article_category_id' => '1', 'title' => 'CNI Urges Government to Prioritize Domestic Production in 16th Plan', 'sub_title' => '', 'summary' => 'September 11: The Confederation of Nepalese Industries (CNI) has suggested the government to formulate the 16th five-year plan by giving priority to domestic production, import substitution and job creation.', '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 11: The Confederation of Nepalese Industries (CNI) has suggested the government to formulate the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th five-year plan by giving priority to domestic production, import substitution and job creation. </span></span></span></span></p> <p><span style="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 CNI submitted this suggestion to the National Planning Commission along with a copy of a study conducted by the confederation on the issues that should be prioritized while formulating the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th plan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rajesh Kumar Agarwal, president of the CNI handed over the suggestions to Vice-Chairman of the NPC, Dr Meen Bahadur Shrestha on Sunday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On that occasion, CNI President Agarwal stressed that the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th five-year plan should focus on industrial development. He also urged the NPC to adopt an integrated industrial development strategy for industrial development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Agrawal was of the view that there should be no land ceiling for industries, while the government should ensure policy stability and predictability.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He also requested the government to give priority to the 'Make in Nepal Swadeshi Campaign’ to promote domestic production.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the confederation also suggested the government to curb illegal transactions in 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"">According to the CNI, double taxation should be removed in order to promote Nepal’s exports to various countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> The CNI also stressed on government’s role in promoting employment-oriented skill development programmes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18690', 'image' => '20230911115347_20230828114446_CNIIII.jpg', 'article_date' => '2023-09-11 11:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: A groundbreaking ceremony was held for the development of the country's largest hydropower project to be built with the foreign direct investment (FDI) on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Energy Minister Shakti Bahadur Basnet laid the foundation stone of the 216-megawatt Upper Trishuli-1 Hydropower Project , which is being developed for domestic consumption with FDI from a Korean company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The dam and physical structures of the project are located at Haku village of Amachhodingmo Rural Municipality-1 while the underground powerhouse lies at Uttargaya Rural Municipality in Rasuwa district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the groundbreaking ceremony, Minister Basnet said the government is creating investment-friendly environment to lure international and domestic investors and to achieve economic prosperity in the country through hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The main investor of the project is South-East Power of Korea. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President and Chief Executive Officer of South-East Power Hau Chun Kim said development of the project would be instrumental to achieve economic prosperity by exporting surplus power to the neighboring countries and minimizing climate change impacts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Development of the project started in 2020 and the overall physical progress of the project is 22 per cent so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the dam under this project shall start after the monsoon is over. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total cost of the project is estimated to be US$ 647.3 million. Nine international financial institutions have agreed to invest US$ 453.2 million. The remaining amount will be managed through equity. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-13', 'keywords' => 'Trishuli, hydropower, project, foundation, FDI, Nepal, Korea', 'description' => '', 'sortorder' => '18706', 'image' => '20230912091454_20230306031824_Clipboard32.jpg', 'article_date' => '2023-09-12 21:13:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18975', 'article_category_id' => '1', 'title' => 'Online Registration of Companies from October 2 ', 'sub_title' => '', 'summary' => 'September 12: The registration of private and public limited companies will be available online from October 2. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: The registration of private and public limited companies will be available online from October 2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to deputy registrar at the Office of the Company Registrar, Shekhar Babu Karki, the office is switching to online registration to make its services prompt, reliable and technology-friendly. However, the renewal procedures are to continue physically for the time being until the office prepares online service for renewal. Karki said it will take some time to adjust the new software to launch online service for the renewal. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> It may be noted that the government is in the course of implementing its paperless governance concept with the use and promotion of information technology. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18704', 'image' => '20230912054433_on.jpg', 'article_date' => '2023-09-12 17:43:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18973', 'article_category_id' => '1', 'title' => 'NRB Under Pressure to Monitor Large Cooperatives', 'sub_title' => '', 'summary' => 'September 12: While the debate is going on about the formation of 'Second Tier Institution (STI)' to monitor and supervise savings and credit cooperatives, Nepal Rastra Bank (NRB) is under increasing pressure to monitor the cooperatives with large transactions.', '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 12: While the debate is going on about the formation of 'Second Tier Institution (STI)' to monitor and supervise savings and credit cooperatives, Nepal Rastra Bank (NRB) is under increasing pressure to monitor the cooperatives with large transactions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has mentioned in the budget for the current fiscal year that specialized regulatory agencies will be established and put into operation to make the regulation and supervision of cooperatives effective. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Associations and federations of cooperatives are also 'lobbying' for the formation of a separate regulatory body in line with the budget announcement. This issue was also discussed by the Cooperative Sector Reform Suggestion Taskforce. However, after the Asia Pacific Group (APG) under the Financial Action Task Force (FATF), an organization working to prevent money laundering, mentioned in its report that the monitoring of large trading institutions should be done through the central bank, Nepal Rastra Bank is under pressure to undertake the job. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the mutual evaluation report published by APG recently, it has been mentioned that the cooperatives whose main transactions are savings and loans of more than Rs 50 million annually should be monitored and supervised by the Department of Cooperatives, the central bank and the financial information unit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tolraj Upadhyay, the spokesperson of the Department of Cooperatives, says that the APG report is only a suggestion for the government and its implementation is not binding. </span></span></span></span></p> <p><span style="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 APG suggested, the government is under moral pressure, but there isn’t any obligation to implement the suggestion," he told New Business Age. He said that the monitoring body of cooperatives is being discussed in the ministry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last November, the APG, which had conducted an on-site study, submitted a report to the government stating that the monitoring and supervision of cooperatives was weak and the risk of preventing money laundering was high. Based on the report, the government in January registered a bill in Parliament to amend some laws related to prevention of money laundering and promotion of business environment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meenraj Kandel, president of the National Cooperative Federation, says it would be more effective to form a separate organization to monitor cooperatives instead of giving the responsibility to the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the lack of effective monitoring and supervision of these institutions, the savings of common people are at risk. Sudarshan Dhakal, the former registrar of the Department of Cooperatives, says that Nepal Rastra Bank cannot shy away from the responsibility of monitoring cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18702', 'image' => '20230912034106_20230619074931_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-12 15:40:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18972', 'article_category_id' => '1', 'title' => 'Cooperative Sector Reform Suggestion Taskforce Submits Report to PM Dahal ', 'sub_title' => '', 'summary' => 'September 12: The Cooperative Sector Reform Suggestion Taskforce submitted its report to Prime Minister Pushpa Kamal Dahal on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: The Cooperative Sector Reform Suggestion Taskforce submitted its report to Prime Minister Pushpa Kamal Dahal on Tuesday, according to Secretary at the Ministry of Land Management, Cooperatives and Poverty Alleviation, Gokarna Mani Duwadi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held on May 9 had formed the Cooperative Sector Reform Suggestion Taskforce under the coordination of National Planning Commission member, Dr Jaykant Raut. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The taskforce submitted the report to the government along with measures for the solution to the problems seen in the cooperative sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Duwadi shared that the taskforce has suggested to the government to bring some plans in order to give immediate relief to the victims of cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, it also suggested the government to take initiatives to resolve problems of the cooperative sector by making some legal reforms. "The report has short-term, mid-term and long-term suggestions," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Receiving the report, Prime Minister Dahal directed the bodies concerned to take initiative in order to resolve the problems of the cooperative sector, and to formulate necessary policy for the long-term solution to the problems, said Secretary Duwadi. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18701', 'image' => '20230912024644_Cooperative.jpg', 'article_date' => '2023-09-12 14:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18971', 'article_category_id' => '1', 'title' => 'PM Dahal holds Consultation with Nepal's Envoys to Discuss Issues of Labour Migration ', 'sub_title' => '', 'summary' => 'September 12: Prime Minister Pushpa Kamal Dahal on Monday held a meeting with heads and representatives of Nepali diplomatic missions abroad, with focus on the labour migration issues and possible ways for addressing them. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Prime Minister Pushpa Kamal Dahal on Monday held a meeting with heads and representatives of Nepali diplomatic missions abroad, with focus on the labour migration issues and possible ways for addressing them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, diplomatic mission chiefs for 13 countries put their views on the labor migration issues and their probable solutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Kewal Prasad Bhandari, gave his brief presentation that centered on labor migration issues, elucidating roles that diplomatic channels can play to mitigate these challenges. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentations highlighted various multi-dimensional aspects of labor migration including the current state of labour market and migration trends, the significance of remittance and its substantial impact, bilateral labour agreement and understanding, guideline on foreign employment demand attestation, the provision of shelter and support for migrants, labor permit issue, management of local employees, organizational arrangements and status of labour attachés, E-7 visa (specific activity) for South Korea, provision of Japan's specified skilled workers, and archiving of those labor migrants missing in the official records. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentation also sheds light on relief and rescue operations, as well as charitable efforts, the current status of legal defense mechanisms for labor migrants, labor relations and challenges, issues concerning domestic help and their working conditions, affiliation of migrants with the Social Security Fund, attestation of specified labor skills, training programs, and language proficiency, maximum consultancy fees for labor migration consultants, official channels for the entry and regulation of remittance flows, travel arrangements facilitated by travel agencies, possibilities for new labor destinations and expansion of the labor market and so on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentation included subjects ranging from issues of domestic workers to supply of workers as per the agreement between the governments of concerned countries, association with the social security fund, specialised labour, skills, training and test of language, service fees for counseling, bringing in remittance inflow through a formal channel, educational counseling, problems in the process of going for foreign employment, the potential of new labour destinations and labour market and expected achievements and results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The top 10 destinations for labour immigration for Nepali nationals are Qatar, Malaysia, Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, South Korea, Oman, Japan and Rumania. Similarly, the concept paper identified various problems faced by Nepali migrant workers at foreign jobs and offered alternatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The interaction, which will conclude on later today (Tuesday), will discuss an array of subjects ranging from demand letter verification to cheating in foreign employment, problems faced by workers at workplace, human trafficking, problems faced by Nepali workers at foreign jobs without proper documentation, the situation and problem of the free visa and free ticket scheme, e-visa, problems of seasonable visa, the effectiveness of diplomatic missions, and the methods to make labour immigration safe, respectable and credible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Others present on the occasion were Deputy Prime Minister and Defence Minister Purna Bahadur Khadka, Minister for Labour, Employment and Social Security Sharat Singh Bhandari, Minister for Foreign Affairs Narayan Prakash Saud, political advisor to the Prime Minister Haribol Gajurel, secretary of the government, Ambassador of Nepal to Austria Bharat Gautam, Ambassador to Oman Dornath Aryal, Ambassador to Germany Ramkaji Khadka, Ambassador to Japan Durga Prasad Subedi, Ambassador to South Korea Jyoti Pyakurel, Ambassador to Malaysia Dilli Raj Paudel and Ambassador to Qatar Naresh Bikram Dhakal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Ambassador to Bahrain Tirtha Raj Wagle, Ambassador to Pakistan Tapas Adhikari, Ambassador to Kuwait Ghana Shyam Lamsal, Ambassador to the United Arab Emirates Tej Bahadur Chhetri and Ambassador to Saudi Arabia Nawaraj Subedi separately tabled their reports on the situation of Nepali migrant workers at foreign jobs and ways to be taken to bring changes in the situation. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18700', 'image' => '20230912015255_Untitled.jpg', 'article_date' => '2023-09-12 13:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18969', 'article_category_id' => '1', 'title' => 'PM Directs NEA not to Cut Off Power Supply to Industries', 'sub_title' => '', 'summary' => 'September 12: Prime Minister Pushpa Kamal Dahal has directed Nepal Electricity Authority (NEA) to not stop electricity supply to the industries until the dispute over the tariff related to dedicated feeder and trunk line is resolved. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Prime Minister Pushpa Kamal Dahal has directed Nepal Electricity Authority (NEA) to not stop electricity supply to the industries until the dispute over the tariff related to dedicated feeder and trunk line is resolved. He said a study is being carried out to resolve the dispute over the tariff which the industries are yet to pay to the NEA. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal telephoned NEA Managing Director Kulman Ghising and issued this directive following his meeting with a delegation of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) led by its president Chandra Prasad Dhakal at the prime minister's official residence at Baluwatar on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the prime minister assured that he would take initiatives to sort out the dispute at the earliest by keeping the FNCCI, the Electricity Regulation Commission and NEA at one place. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA had on September 3 issued a notice requiring the industries to pay within 15 days their outstanding electricity tariff of the dedicated feeder and trunk line. It had warned the industries that electricity supply would be stopped if they failed to clear the dues within the deadline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNCCI has suggested to the government that special initiatives were needed to protect the industries in the present time of economic crisis when they are operating in less than 40 per cent of their capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We need support and cooperation at the present situation. Our demand is that more problems should not be created," said the FNCCI president Dhakal. FNCCI argued that the industries and businesses are facing continued crisis following the COVID-19 pandemic and the entrepreneurs would be further discouraged if power supply is cut in such a situation. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => 'electricity, tariff, dedicated, feeder, trunk, line, prime, minister, NEA, Kulman, Ghising, dues, crisis', 'description' => '', 'sortorder' => '18699', 'image' => '20230912114216_NEA_20191104081559.jpg', 'article_date' => '2023-09-12 11:41:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18970', 'article_category_id' => '1', 'title' => 'Constituent Assembly Chairperson Nembang No More', 'sub_title' => '', 'summary' => 'September 12: Constituent Assembly Chairperson and Vice-Chairperson of the CPN-UML Subas Chandra Nembang passed away this morning due to heart attack.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Constituent Assembly Chairperson and Vice-Chairperson of the CPN-UML Subas Chandra Nembang passed away this morning due to heart attack. He was 70. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang, a former Speaker of the House of Representatives (HoR), died while undergoing treatment at Tribhuvan University Teaching Hospital (TUTH) at 1.30 am today, Nembang's personal secretary Krishna Prasad Kafle told RSS. He was rushed to the hospital after complications. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushna Kamal Dahal, CPN-UML Chairperson KP Sharma Oli, Speaker Devraj Ghimire, National Assembly Chairperson Ganesh Timilsina and other parties' leaders had reached the hospital after learning that Nembang suffered a heart attack.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel has expressed grief over the untimely demise of Constituent Assembly (CA) Chairperson Nembang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The President said he was shocked by the unexpected demise of Nembang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a tweet, President Paudel expressed his tribute to Nembang and extended deep condolences to the grief-stricken Nembang family, pro-republicans and his party, CPN-UML</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nemang, who was born on March 11, 1953, had developed his image as an accommodative leader in Nepali politics. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nembang’s constituency Ilam has plunged into sorrow after the untimely passing away of the federal parliamentarian. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had regularly been elected member of parliament from Ilam constituency-2 since 2000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang, who was born in Suntalabar nearby Ilam Bazaar, joined communist politics in 2029 BS when he was a student in Ilam Campus. While advocating for political change in the country, he was imprisoned in 2033 BS on a treason case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang had served the country as a member of the National Assembly in 2048 and 2052 BS. He was the Minister for Law, Justice and Parliamentary Affairs under the Manmohan Adhikari-led communist government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had also served as the chairman of Public Accounts Committee in 2056 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Later, he served as the Speaker of reinstated parliament following the success of the People's Movement of 2062-63. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After winning election from Ilam in 2064 and 2070 BS, he had become the Chairperson of the Constituent Assembly. He had played coordinating role in promulgating the Constitution of Nepal 2015 as the chair of the Constituent Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had served the country as a Speaker for four times and was always picked to the post on consensus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The district-based political leaders, social activists and students have started paying tributes to the late leader and expressing sorrow through different media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the government has decided to perform last rites of Chairperson of the Constituent Assembly, Nembang, with state honours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the office of the Prime Minister and Council of Ministers today, expressed sorrow over the demise of leader Nembang and extended condolences to the bereaved family members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government decided to give state honours during Nembang’s funeral in recognition of his contribution to the constitution making process, said Minister for Culture, Tourism and Civil Aviation, Sudan Kirati. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The cabinet meeting also decided to give public holiday on the day the final rites of Chairperson Nembang will be performed. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18698', 'image' => '20230912124646_1694500534.subas .jpg', 'article_date' => '2023-09-12 12:45:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18968', 'article_category_id' => '1', 'title' => 'Mugu District Connected to National Grid', 'sub_title' => '', 'summary' => 'Mugu district of Karnali Province has been connected to the national grid with the expansion of electricity to the district headquarters, Gamgadhi .', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> September 11: Mugu district of Karnali Province has been connected to the national grid with the expansion of electricity to the district headquarters, Gamgadhi .</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This achievement was made possible through the construction of an approximately 85-kilometer transmission line, extending from Nagma and reaching the district headquarters, Gamgadhi, with a 33-kilovolt (kV) transmission line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">With this, 76 of the total 77 districts have been linked to the national grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Nepal Electricity Authority (NEA) has started supplying electricity to the Gamgadhi area from Sunday from the 400 kilowatts Gamgad small hydropower project. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Now, only Humla district is yet to be connected to the national grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">A survey is being conducted to connect the district to the national electricity transmission line, according to NEA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> With the access to the national grid, electrification will speed up in Mugu district, said the NEA executive director Kulman Ghising. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">There are 3,500 consumers of electricity in Mugu. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">To make power supply reliable and high-quality in Mugu, works are underway to upgrade the 11 kV substation at Gamgadhi to 33 kV, said the NEA Province Office Chief Shambhu Kusiyad Yadav. (RSS) </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18697', 'image' => '20230912055604_collage (12).jpg', 'article_date' => '2023-09-12 05:54:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18967', 'article_category_id' => '1', 'title' => 'NEPSE Index Gains Massive 44 Points; All Sectors Land in the Green', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index gained 44.30 points or 2.28% and closed at 1986.99 points on the second trading day of the week, Monday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">September 11: The Nepal Stock Exchange(NEPSE) Index gained 44.30 points or 2.28% and closed at 1986.99 points on the second trading day of the week, Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Stock market experts and seasoned investors say that the NEPSE registered the massive gains as the market has come down to the bottom or buying zone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The government decision to allow the local levels’ 60% fund to be counted as deposits has had positive effect on the market, investors say. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">During today's trading, a total of 278 scrips exchanged their hands through 37,799 transactions. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> A total of 4,742,511shares were traded, amounting to Rs. 1.51 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Salt Trading Corporation (STC) recorded the highest turnover of Rs. 6.25 crores and closed at a market price of Rs. 5,700.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Similarly, Three Star Hydropower Limited (TSHL) gained the highest 9.98%, followed by Menchhiyam Hydropower Limited (MCHL) with 9.97%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Meanwhile, Siddhartha Investment Growth Scheme - 2 (SIGS2) lost the highest 7.43% today.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">In terms of sector indices, all indices closed green with Hotel and Tourism Index gaining the most among the indices with a positive gain of 3.45 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Sensitive Index increased by 2.06%, while Float Index and Sensitive Float Index surged by 2.37% and 2.26% respectively.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18696', 'image' => '20230911045853_collage (1).jpg', 'article_date' => '2023-09-11 16:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18966', 'article_category_id' => '1', 'title' => 'ŠKoda Unveils All-New Slavia Sedan in Nepal', 'sub_title' => '', 'summary' => 'MAW Expanze Pvt. Ltd, the authorized distributor of ŠKoda in Nepal, has set the stage for a new era of automotive excellence with the official launch of the all-new ŠKoda Slavia sedan.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 11: MAW Expanze Pvt. Ltd, the authorized distributor of ŠKoda in Nepal, has set the stage for a new era of automotive excellence with the official launch of the all-new ŠKoda Slavia sedan. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Branded as 'Designed to be different,' the Slavia promises to elevate the driving experience in Nepal with its blend of cutting-edge design, advanced technology, and exceptional performance.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mr. Raunak Agarwal, Executive Director of MAW Expanze, described the Slavia as "the premium mid-size sedan made for those who want to create a distinct identity in the crowd.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Slavia 1.0 TSI packs a punch with its 1-liter, three-cylinder turbo petrol engine delivering 85 kW (115 Ps) of power and 178 Nm of torque.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It offers a choice between a 6-speed manual and a 6-speed torque converter automatic transmission, achieving impressive fuel efficiency at up to 19.47 km/l and accelerating from 0 to 100 km/h in just 10.7 seconds.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As for its dimensions, the Slavia sets itself apart as the tallest, widest, and longest sedan in its class, providing exceptional space for five adults and boasting a ground clearance of 179mm, ideal for tackling Nepal's rugged roads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Safety takes center stage with up to 6 airbags, Electronic Stability Control, Electronic Differential System, and Multi Collision Brake for added protection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additional safety features include parking sensors, automatic brake disc cleaning, a rear-view camera, and more. The Slavia has earned a prestigious 5-star rating in the Global NCAP for its safety measures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Inside, the Slavia offers a 10-inch advanced touchscreen with wireless Android Auto and Apple CarPlay, along with an 8-inch programmable digital cockpit for the driver's convenience. Rear passengers enjoy dual AC vents and dual USB ports for device charging.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ŠKoda Slavia is available in two transmission options, catering to different driving preferences and needs. For the manual transmission variant, the Slavia 1.0 TSI (MT) in the Active trim comes at a competitive price of Rs 49,40,000.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Ambition variant of the Slavia 1.0 TSI (AT) is priced at Rs 58,40,000/-. For those who desire the pinnacle of style, comfort, and advanced technology, the top-of-the-line Slavia 1.0 TSI (AT) in the Style trim is available at Rs 65,40,000/-.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18695', 'image' => '20230911042400_collage.jpg', 'article_date' => '2023-09-11 16:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '18964', 'article_category_id' => '1', 'title' => 'Investors' Attraction towards Shares of Commercial Banks Declining', 'sub_title' => '', 'summary' => 'September 11: The interest of investors in the shares of commercial banks, which were once considered attractive in the secondary market of securities, has been declining over the past few years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 11: The interest of investors in the shares of commercial banks, which were once considered attractive in the secondary market of securities, has been declining over the past few years. This is clearly evident from the data published by Nepal Stock Exchange (NEPSE) for the last three fiscal years (FY). Although the market capitalization of commercial banks is strong, the shares of commercial banks have recently taken a nosedive in the secondary market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Investor Navraj Dahal says that the investors’ attraction towards commercial banks has decreased as they are more attracted to other sectors that gives them more returns in a short period of time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, this is also due to the impact of the share mortgage loan limit. The investors are not happy with the limit of share mortgage loan fixed by the authorities. </span></span></span></span></p> <p><span style="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 investors have a perception that they can be forced to sell the shares if they take loans by keeping their shares as collateral. This has given them an impression that buying shares is not a good idea.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Many investors buy shares of commercial banks basically to take loans. It is because they believe that they will get more loans by gaining the trust of the banks. But, if the central bank makes some policy changes, they will have to sell the shares under pressure. That's why they opt for other safe areas for investment," said Dahal, adding, "Another reason is the declining dividend of commercial banks. Earlier they used to give good dividends. Currently, they are not able to do that because of the lack of business growth according to the increased capital after merger. Today, small companies give the returns that commercial banks used to give.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Another investor, Manju Parajuli, says that since the shares of commercial banks are in the hands of many people, it is not possible to make huge capital gains by manipulating them like the shares of other sectors. The latest quarterly financial statements have shown that bad loans of commercial banks have increased significantly. That is why their shares are not preferred by investors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the data of NEPSE for the last three years, it seems that the share transactions of commercial banks has decreased significantly. In the fiscal year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the share of commercial banks was 25.99 percent of the total transactions, but by the end of 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"">, it decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14.31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the commercial bank traded </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">951</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million shares worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">378</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, while in the last fiscal year, only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">217</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million shares worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66.85</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were traded.</span></span></span></span></p> <p><span style="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 shares transactions of hydropower group is increasing. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the share of this group in the total turnover was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15.27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, but it increased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27.88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, with the increase in the number of listed hydropower companies, share trading has also increased. Since the number of shares of this group of companies is low, there is also a situation where the price can be reduced by manipulation. Therefore, investors are more interested in the shares of such companies.</span></span></span></span></p> <p><span style="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 share trading of hotels and tourism groups is also increasing recently. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, this group accounted for only 0.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total turnover, which has increased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel and tourism sector, affected by the Coronavirus pandemic, has now progressed significantly. The arrival of foreign tourists also improved in April, May and June. Due to the increase in tourism activities, the business of the hotel sector has increased significantly, and the profits of these companies have also increased. This is also believed to have attracted investors. In the past few months, the share price of this group of companies has doubled.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18694', 'image' => '20230911034153_1692647212.1689909254.2023-07-21 08.58.56.jpg', 'article_date' => '2023-09-11 15:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18965', 'article_category_id' => '1', 'title' => 'Nepal-India Women Entrepreneurs Conference calls for Cooperation between Women Entrepreneurs', 'sub_title' => '', 'summary' => 'September 11: Stakeholders have emphasized the need for cooperation between women entrepreneurs of Nepal and India for skill development, marketing and technology transfer.', '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 11: Stakeholders have emphasized the need for cooperation between women entrepreneurs of Nepal and India for skill development, marketing and technology transfer. The participants of the Nepal-India International Women Entrepreneurs Conclave 2080 said that there are many similarities between the two neighboring countries and that cooperation is necessary for entrepreneurship development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the conclave in Kathmandu on Sunday, Foreign Minister NP Saud said that cooperation is necessary for the development of entrepreneurship. The conference was organized by the Central Committee of Women Entrepreneurs under the Federation of Nepalese Cottage and Small Industries (FNCSI). The event was co-organized by Indian Youth Chamber of Commerce and Global India Mission.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the program, Minister Saud said that the policy of the government is to promote, enhance and protect entrepreneurship. He said that women are coming forward not only politically but financially as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunita Dangol, deputy mayor of Kathmandu Metropolitan City, said that the metropolis has started training in every ward for the development of women's entrepreneurship. She emphasized the need to develop entrepreneurship that creates jobs. She informed that the metropolis has introduced a policy of giving up to </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""> percent tax exemption to those who want to do business. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Soni Mahato, the coordinator of the conference, said that the government should increase investment in this sector, facilitate the establishment of industries led by women, facilitate skill-based training, avail loans and support with appropriate technology, and also provide special tax exemptions in order to boost the morale of women entrepreneurs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">She said that if the government helps with tax and other issues, women will be more attracted towards domestic and small industry businesses. Women from all seven provinces of Nepal and women entrepreneurs from India who participated in the program were honored.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18693', 'image' => '20230911035447_1694387134.1 women.jpg', 'article_date' => '2023-09-11 15:54:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18963', 'article_category_id' => '1', 'title' => 'Koshi Province Issues Two Ordinances to End Budget Holiday', 'sub_title' => '', 'summary' => 'September 11: After two weeks of budget holiday in Koshi Province, the government led by newly appointed Chief Minister Hikmat Karki has issued Economic Ordinance 2080 and Appropriation Ordinance 2080 to remove this situation.', '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 11: After two weeks of budget holiday in Koshi Province, the government led by newly appointed Chief Minister Hikmat Karki has issued Economic Ordinance </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and Appropriation Ordinance </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to remove this situation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the issuance of the ordinances, the provincial government will now be able to spend and collect taxes. For the past few weeks, the government had been unable to spend and collect taxes in the current fiscal year due to constitutional hurdle.</span></span></span></span></p> <p><span style="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 Council of Ministers of the Koshi provincial government decided to present the two ordinances to the province chief Parshuram Khapung on Friday night. On Sunday, both the ordinances were issued by provincial chief Khapung. </span></span></span></span></p> <p><span style="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 ordinances brought earlier by the Koshi provincial government for the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23</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"">24 was not passed by the State Assembly and became automatically null and void. Both the ordinances issued on June 14 became null and void on August 27.</span></span></span></span></p> <p><span style="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 provincial budget was frozen since August 27 after the Supreme Court scrapped the Uddhav Thapa-led government and ordered it not to make any long-term decisions. The new ordinances were issued again after the Hikmat Karki-led government was formed recently.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">CPN-UML filed a writ in the Supreme Court questioning the legality of the vote of confidence taken by Thapa. On August 24, a single bench of Justice Ishwar Prasad Khatiwada issued an order in the name of the province government not to make any long-term decisions. </span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18692', 'image' => '20230911031829_1694387051.1 koshi.jpg', 'article_date' => '2023-09-11 15:17:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18962', 'article_category_id' => '1', 'title' => 'Government to Propose Pokhara Airport's Debt Waiver during PM’s Upcoming China Visit', 'sub_title' => '', 'summary' => 'September 11: The government has suffered a serious setback from Pokhara Regional International Airport (PRIA) built with Chinese investment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 11: The government has suffered a serious setback from Pokhara Regional International Airport (PRIA) built with Chinese investment. The setback is mainly due to the government’s inability to make the airport commercially viable. The PRIA was built with loan investment of Rs 22 billion from China.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, the government has done its homework to submit a proposal to the Chinese government for loan waiver during the upcoming state visit of Prime Minister Pushpa Kamal Dahal to China, said a highly-placed government source. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A senior official of the Office of the Prime Minister and Council of Ministers told New Business Age that the proposal related to loan waiver is being prepared in coordination with the Ministry of Foreign Affairs, Ministry of Tourism and Ministry of Finance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sources say that government officials are preparing the proposal in the context that it has been bearing the burden of paying the principal and interest of the loan due to lack of international flights at the newly built airport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In 2016, China's Exim Bank decided to provide a loan of Rs 22 billion for the construction of the airport. After that, the construction of the airport was started and it became operational from January 1 this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the agreement, the government will not have to pay the loan in the first seven years after signing the pact but the dues must be cleared within the next 20 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the government paid the first installment of 53.28 million yuan (about Rs 85 million) in April. According to the agreement, the second installment should be paid on September 18.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal has been exempted of paying interest on 25 percent of the total loan amount. The government has to pay around Rs 2 billion annually as interest and principal amount to the Exim Bank of China. Until the year 2035, installments of interest and principal amount must be paid every 6 months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Budhisagar Lamichhane, joint secretary of the Ministry of Culture, Tourism and Civil Aviation, says that in the present context, there is no situation to pay the principal and interest of PRIA from the airport’s own income.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"If the current situation continues, we will not be able to pay the debt," he said, "We will have to channel the earnings of other airports to pay for the loan."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that there is no alternative but to promote Pokhara Regional International Airport. However, after eight months of operation, regular international flights have not been taking place through the airport. There have been only two international flights from this airport so far.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The last international flight took place on September 9. A plane from Bhutan landed at the Pokhara Airport with three passengers from Paro Airport. Shortly thereafter, the aircraft returned to Bhutan carrying 42 American tourists.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, a Sichuan Airlines aircraft landed in Pokhara carrying 84 Chinese people who were participating in the Dragon Boat Race Festival on June 21.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is also confusion regarding the loan given by China to Pokhara International Airport. China calls it the flagship project under its 'Belt and Road Initiative'. The spokesperson of the Chinese Embassy in Nepal congratulated the Government of Nepal and the people of Nepal on the day of the inauguration of the airport and said, “Pokhara International Airport is a major project of Nepal-China BRI cooperation. Hearty congratulations to the government of Nepal and the people of Nepal.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to high-ranking sources, the government is also preparing a proposal seeking loan waiver of Chinese built Harbin aircraft that are currently grounded.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prime Minister Dahal on Sunday called for an all-party meeting to discuss his impending visit to China. The discussion held at the Prime Minister's Office, Singh Darbar, was attended by former prime ministers, leaders of major political parties represented in the Parliament, the foreign minister, and the former foreign ministers. During the meeting, they suggested to pay attention to the issue of balanced neighborhood policy and development. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => 'Pokara, airport, international, Nepal, china, loan, debt, interest, commercial, viable, BRI, belt, road, initiative, visit,, PM, prime, minister, waiver', 'description' => '', 'sortorder' => '18691', 'image' => '20230911010634_Pokhara-Airport 800.jpg', 'article_date' => '2023-09-11 13:03:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18961', 'article_category_id' => '1', 'title' => 'CNI Urges Government to Prioritize Domestic Production in 16th Plan', 'sub_title' => '', 'summary' => 'September 11: The Confederation of Nepalese Industries (CNI) has suggested the government to formulate the 16th five-year plan by giving priority to domestic production, import substitution and job creation.', '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 11: The Confederation of Nepalese Industries (CNI) has suggested the government to formulate the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th five-year plan by giving priority to domestic production, import substitution and job creation. </span></span></span></span></p> <p><span style="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 CNI submitted this suggestion to the National Planning Commission along with a copy of a study conducted by the confederation on the issues that should be prioritized while formulating the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th plan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rajesh Kumar Agarwal, president of the CNI handed over the suggestions to Vice-Chairman of the NPC, Dr Meen Bahadur Shrestha on Sunday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On that occasion, CNI President Agarwal stressed that the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th five-year plan should focus on industrial development. He also urged the NPC to adopt an integrated industrial development strategy for industrial development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Agrawal was of the view that there should be no land ceiling for industries, while the government should ensure policy stability and predictability.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He also requested the government to give priority to the 'Make in Nepal Swadeshi Campaign’ to promote domestic production.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the confederation also suggested the government to curb illegal transactions in 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"">According to the CNI, double taxation should be removed in order to promote Nepal’s exports to various countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> The CNI also stressed on government’s role in promoting employment-oriented skill development programmes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18690', 'image' => '20230911115347_20230828114446_CNIIII.jpg', 'article_date' => '2023-09-11 11:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18977', 'article_category_id' => '1', 'title' => 'Foundation Stone of 216 MW Upper Trishuli-1 Hydropower Project Laid amid Groundbreaking Ceremony', 'sub_title' => '', 'summary' => 'September 12: A groundbreaking ceremony was held for the development of the country's largest hydropower project to be built with the foreign direct investment (FDI) on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: A groundbreaking ceremony was held for the development of the country's largest hydropower project to be built with the foreign direct investment (FDI) on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Energy Minister Shakti Bahadur Basnet laid the foundation stone of the 216-megawatt Upper Trishuli-1 Hydropower Project , which is being developed for domestic consumption with FDI from a Korean company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The dam and physical structures of the project are located at Haku village of Amachhodingmo Rural Municipality-1 while the underground powerhouse lies at Uttargaya Rural Municipality in Rasuwa district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the groundbreaking ceremony, Minister Basnet said the government is creating investment-friendly environment to lure international and domestic investors and to achieve economic prosperity in the country through hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The main investor of the project is South-East Power of Korea. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President and Chief Executive Officer of South-East Power Hau Chun Kim said development of the project would be instrumental to achieve economic prosperity by exporting surplus power to the neighboring countries and minimizing climate change impacts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Development of the project started in 2020 and the overall physical progress of the project is 22 per cent so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the dam under this project shall start after the monsoon is over. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total cost of the project is estimated to be US$ 647.3 million. Nine international financial institutions have agreed to invest US$ 453.2 million. The remaining amount will be managed through equity. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-13', 'keywords' => 'Trishuli, hydropower, project, foundation, FDI, Nepal, Korea', 'description' => '', 'sortorder' => '18706', 'image' => '20230912091454_20230306031824_Clipboard32.jpg', 'article_date' => '2023-09-12 21:13:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18975', 'article_category_id' => '1', 'title' => 'Online Registration of Companies from October 2 ', 'sub_title' => '', 'summary' => 'September 12: The registration of private and public limited companies will be available online from October 2. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: The registration of private and public limited companies will be available online from October 2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to deputy registrar at the Office of the Company Registrar, Shekhar Babu Karki, the office is switching to online registration to make its services prompt, reliable and technology-friendly. However, the renewal procedures are to continue physically for the time being until the office prepares online service for renewal. Karki said it will take some time to adjust the new software to launch online service for the renewal. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> It may be noted that the government is in the course of implementing its paperless governance concept with the use and promotion of information technology. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18704', 'image' => '20230912054433_on.jpg', 'article_date' => '2023-09-12 17:43:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18973', 'article_category_id' => '1', 'title' => 'NRB Under Pressure to Monitor Large Cooperatives', 'sub_title' => '', 'summary' => 'September 12: While the debate is going on about the formation of 'Second Tier Institution (STI)' to monitor and supervise savings and credit cooperatives, Nepal Rastra Bank (NRB) is under increasing pressure to monitor the cooperatives with large transactions.', '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 12: While the debate is going on about the formation of 'Second Tier Institution (STI)' to monitor and supervise savings and credit cooperatives, Nepal Rastra Bank (NRB) is under increasing pressure to monitor the cooperatives with large transactions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has mentioned in the budget for the current fiscal year that specialized regulatory agencies will be established and put into operation to make the regulation and supervision of cooperatives effective. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Associations and federations of cooperatives are also 'lobbying' for the formation of a separate regulatory body in line with the budget announcement. This issue was also discussed by the Cooperative Sector Reform Suggestion Taskforce. However, after the Asia Pacific Group (APG) under the Financial Action Task Force (FATF), an organization working to prevent money laundering, mentioned in its report that the monitoring of large trading institutions should be done through the central bank, Nepal Rastra Bank is under pressure to undertake the job. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the mutual evaluation report published by APG recently, it has been mentioned that the cooperatives whose main transactions are savings and loans of more than Rs 50 million annually should be monitored and supervised by the Department of Cooperatives, the central bank and the financial information unit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tolraj Upadhyay, the spokesperson of the Department of Cooperatives, says that the APG report is only a suggestion for the government and its implementation is not binding. </span></span></span></span></p> <p><span style="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 APG suggested, the government is under moral pressure, but there isn’t any obligation to implement the suggestion," he told New Business Age. He said that the monitoring body of cooperatives is being discussed in the ministry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last November, the APG, which had conducted an on-site study, submitted a report to the government stating that the monitoring and supervision of cooperatives was weak and the risk of preventing money laundering was high. Based on the report, the government in January registered a bill in Parliament to amend some laws related to prevention of money laundering and promotion of business environment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meenraj Kandel, president of the National Cooperative Federation, says it would be more effective to form a separate organization to monitor cooperatives instead of giving the responsibility to the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the lack of effective monitoring and supervision of these institutions, the savings of common people are at risk. Sudarshan Dhakal, the former registrar of the Department of Cooperatives, says that Nepal Rastra Bank cannot shy away from the responsibility of monitoring cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18702', 'image' => '20230912034106_20230619074931_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-12 15:40:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18972', 'article_category_id' => '1', 'title' => 'Cooperative Sector Reform Suggestion Taskforce Submits Report to PM Dahal ', 'sub_title' => '', 'summary' => 'September 12: The Cooperative Sector Reform Suggestion Taskforce submitted its report to Prime Minister Pushpa Kamal Dahal on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: The Cooperative Sector Reform Suggestion Taskforce submitted its report to Prime Minister Pushpa Kamal Dahal on Tuesday, according to Secretary at the Ministry of Land Management, Cooperatives and Poverty Alleviation, Gokarna Mani Duwadi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held on May 9 had formed the Cooperative Sector Reform Suggestion Taskforce under the coordination of National Planning Commission member, Dr Jaykant Raut. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The taskforce submitted the report to the government along with measures for the solution to the problems seen in the cooperative sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Duwadi shared that the taskforce has suggested to the government to bring some plans in order to give immediate relief to the victims of cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, it also suggested the government to take initiatives to resolve problems of the cooperative sector by making some legal reforms. "The report has short-term, mid-term and long-term suggestions," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Receiving the report, Prime Minister Dahal directed the bodies concerned to take initiative in order to resolve the problems of the cooperative sector, and to formulate necessary policy for the long-term solution to the problems, said Secretary Duwadi. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18701', 'image' => '20230912024644_Cooperative.jpg', 'article_date' => '2023-09-12 14:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18971', 'article_category_id' => '1', 'title' => 'PM Dahal holds Consultation with Nepal's Envoys to Discuss Issues of Labour Migration ', 'sub_title' => '', 'summary' => 'September 12: Prime Minister Pushpa Kamal Dahal on Monday held a meeting with heads and representatives of Nepali diplomatic missions abroad, with focus on the labour migration issues and possible ways for addressing them. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Prime Minister Pushpa Kamal Dahal on Monday held a meeting with heads and representatives of Nepali diplomatic missions abroad, with focus on the labour migration issues and possible ways for addressing them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, diplomatic mission chiefs for 13 countries put their views on the labor migration issues and their probable solutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Kewal Prasad Bhandari, gave his brief presentation that centered on labor migration issues, elucidating roles that diplomatic channels can play to mitigate these challenges. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentations highlighted various multi-dimensional aspects of labor migration including the current state of labour market and migration trends, the significance of remittance and its substantial impact, bilateral labour agreement and understanding, guideline on foreign employment demand attestation, the provision of shelter and support for migrants, labor permit issue, management of local employees, organizational arrangements and status of labour attachés, E-7 visa (specific activity) for South Korea, provision of Japan's specified skilled workers, and archiving of those labor migrants missing in the official records. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentation also sheds light on relief and rescue operations, as well as charitable efforts, the current status of legal defense mechanisms for labor migrants, labor relations and challenges, issues concerning domestic help and their working conditions, affiliation of migrants with the Social Security Fund, attestation of specified labor skills, training programs, and language proficiency, maximum consultancy fees for labor migration consultants, official channels for the entry and regulation of remittance flows, travel arrangements facilitated by travel agencies, possibilities for new labor destinations and expansion of the labor market and so on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentation included subjects ranging from issues of domestic workers to supply of workers as per the agreement between the governments of concerned countries, association with the social security fund, specialised labour, skills, training and test of language, service fees for counseling, bringing in remittance inflow through a formal channel, educational counseling, problems in the process of going for foreign employment, the potential of new labour destinations and labour market and expected achievements and results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The top 10 destinations for labour immigration for Nepali nationals are Qatar, Malaysia, Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, South Korea, Oman, Japan and Rumania. Similarly, the concept paper identified various problems faced by Nepali migrant workers at foreign jobs and offered alternatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The interaction, which will conclude on later today (Tuesday), will discuss an array of subjects ranging from demand letter verification to cheating in foreign employment, problems faced by workers at workplace, human trafficking, problems faced by Nepali workers at foreign jobs without proper documentation, the situation and problem of the free visa and free ticket scheme, e-visa, problems of seasonable visa, the effectiveness of diplomatic missions, and the methods to make labour immigration safe, respectable and credible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Others present on the occasion were Deputy Prime Minister and Defence Minister Purna Bahadur Khadka, Minister for Labour, Employment and Social Security Sharat Singh Bhandari, Minister for Foreign Affairs Narayan Prakash Saud, political advisor to the Prime Minister Haribol Gajurel, secretary of the government, Ambassador of Nepal to Austria Bharat Gautam, Ambassador to Oman Dornath Aryal, Ambassador to Germany Ramkaji Khadka, Ambassador to Japan Durga Prasad Subedi, Ambassador to South Korea Jyoti Pyakurel, Ambassador to Malaysia Dilli Raj Paudel and Ambassador to Qatar Naresh Bikram Dhakal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Ambassador to Bahrain Tirtha Raj Wagle, Ambassador to Pakistan Tapas Adhikari, Ambassador to Kuwait Ghana Shyam Lamsal, Ambassador to the United Arab Emirates Tej Bahadur Chhetri and Ambassador to Saudi Arabia Nawaraj Subedi separately tabled their reports on the situation of Nepali migrant workers at foreign jobs and ways to be taken to bring changes in the situation. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18700', 'image' => '20230912015255_Untitled.jpg', 'article_date' => '2023-09-12 13:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18969', 'article_category_id' => '1', 'title' => 'PM Directs NEA not to Cut Off Power Supply to Industries', 'sub_title' => '', 'summary' => 'September 12: Prime Minister Pushpa Kamal Dahal has directed Nepal Electricity Authority (NEA) to not stop electricity supply to the industries until the dispute over the tariff related to dedicated feeder and trunk line is resolved. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Prime Minister Pushpa Kamal Dahal has directed Nepal Electricity Authority (NEA) to not stop electricity supply to the industries until the dispute over the tariff related to dedicated feeder and trunk line is resolved. He said a study is being carried out to resolve the dispute over the tariff which the industries are yet to pay to the NEA. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal telephoned NEA Managing Director Kulman Ghising and issued this directive following his meeting with a delegation of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) led by its president Chandra Prasad Dhakal at the prime minister's official residence at Baluwatar on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the prime minister assured that he would take initiatives to sort out the dispute at the earliest by keeping the FNCCI, the Electricity Regulation Commission and NEA at one place. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA had on September 3 issued a notice requiring the industries to pay within 15 days their outstanding electricity tariff of the dedicated feeder and trunk line. It had warned the industries that electricity supply would be stopped if they failed to clear the dues within the deadline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNCCI has suggested to the government that special initiatives were needed to protect the industries in the present time of economic crisis when they are operating in less than 40 per cent of their capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We need support and cooperation at the present situation. Our demand is that more problems should not be created," said the FNCCI president Dhakal. FNCCI argued that the industries and businesses are facing continued crisis following the COVID-19 pandemic and the entrepreneurs would be further discouraged if power supply is cut in such a situation. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => 'electricity, tariff, dedicated, feeder, trunk, line, prime, minister, NEA, Kulman, Ghising, dues, crisis', 'description' => '', 'sortorder' => '18699', 'image' => '20230912114216_NEA_20191104081559.jpg', 'article_date' => '2023-09-12 11:41:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18970', 'article_category_id' => '1', 'title' => 'Constituent Assembly Chairperson Nembang No More', 'sub_title' => '', 'summary' => 'September 12: Constituent Assembly Chairperson and Vice-Chairperson of the CPN-UML Subas Chandra Nembang passed away this morning due to heart attack.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Constituent Assembly Chairperson and Vice-Chairperson of the CPN-UML Subas Chandra Nembang passed away this morning due to heart attack. He was 70. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang, a former Speaker of the House of Representatives (HoR), died while undergoing treatment at Tribhuvan University Teaching Hospital (TUTH) at 1.30 am today, Nembang's personal secretary Krishna Prasad Kafle told RSS. He was rushed to the hospital after complications. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushna Kamal Dahal, CPN-UML Chairperson KP Sharma Oli, Speaker Devraj Ghimire, National Assembly Chairperson Ganesh Timilsina and other parties' leaders had reached the hospital after learning that Nembang suffered a heart attack.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel has expressed grief over the untimely demise of Constituent Assembly (CA) Chairperson Nembang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The President said he was shocked by the unexpected demise of Nembang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a tweet, President Paudel expressed his tribute to Nembang and extended deep condolences to the grief-stricken Nembang family, pro-republicans and his party, CPN-UML</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nemang, who was born on March 11, 1953, had developed his image as an accommodative leader in Nepali politics. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nembang’s constituency Ilam has plunged into sorrow after the untimely passing away of the federal parliamentarian. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had regularly been elected member of parliament from Ilam constituency-2 since 2000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang, who was born in Suntalabar nearby Ilam Bazaar, joined communist politics in 2029 BS when he was a student in Ilam Campus. While advocating for political change in the country, he was imprisoned in 2033 BS on a treason case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang had served the country as a member of the National Assembly in 2048 and 2052 BS. He was the Minister for Law, Justice and Parliamentary Affairs under the Manmohan Adhikari-led communist government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had also served as the chairman of Public Accounts Committee in 2056 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Later, he served as the Speaker of reinstated parliament following the success of the People's Movement of 2062-63. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After winning election from Ilam in 2064 and 2070 BS, he had become the Chairperson of the Constituent Assembly. He had played coordinating role in promulgating the Constitution of Nepal 2015 as the chair of the Constituent Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had served the country as a Speaker for four times and was always picked to the post on consensus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The district-based political leaders, social activists and students have started paying tributes to the late leader and expressing sorrow through different media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the government has decided to perform last rites of Chairperson of the Constituent Assembly, Nembang, with state honours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the office of the Prime Minister and Council of Ministers today, expressed sorrow over the demise of leader Nembang and extended condolences to the bereaved family members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government decided to give state honours during Nembang’s funeral in recognition of his contribution to the constitution making process, said Minister for Culture, Tourism and Civil Aviation, Sudan Kirati. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The cabinet meeting also decided to give public holiday on the day the final rites of Chairperson Nembang will be performed. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18698', 'image' => '20230912124646_1694500534.subas .jpg', 'article_date' => '2023-09-12 12:45:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18968', 'article_category_id' => '1', 'title' => 'Mugu District Connected to National Grid', 'sub_title' => '', 'summary' => 'Mugu district of Karnali Province has been connected to the national grid with the expansion of electricity to the district headquarters, Gamgadhi .', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> September 11: Mugu district of Karnali Province has been connected to the national grid with the expansion of electricity to the district headquarters, Gamgadhi .</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This achievement was made possible through the construction of an approximately 85-kilometer transmission line, extending from Nagma and reaching the district headquarters, Gamgadhi, with a 33-kilovolt (kV) transmission line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">With this, 76 of the total 77 districts have been linked to the national grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Nepal Electricity Authority (NEA) has started supplying electricity to the Gamgadhi area from Sunday from the 400 kilowatts Gamgad small hydropower project. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Now, only Humla district is yet to be connected to the national grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">A survey is being conducted to connect the district to the national electricity transmission line, according to NEA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> With the access to the national grid, electrification will speed up in Mugu district, said the NEA executive director Kulman Ghising. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">There are 3,500 consumers of electricity in Mugu. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">To make power supply reliable and high-quality in Mugu, works are underway to upgrade the 11 kV substation at Gamgadhi to 33 kV, said the NEA Province Office Chief Shambhu Kusiyad Yadav. (RSS) </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18697', 'image' => '20230912055604_collage (12).jpg', 'article_date' => '2023-09-12 05:54:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18967', 'article_category_id' => '1', 'title' => 'NEPSE Index Gains Massive 44 Points; All Sectors Land in the Green', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index gained 44.30 points or 2.28% and closed at 1986.99 points on the second trading day of the week, Monday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">September 11: The Nepal Stock Exchange(NEPSE) Index gained 44.30 points or 2.28% and closed at 1986.99 points on the second trading day of the week, Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Stock market experts and seasoned investors say that the NEPSE registered the massive gains as the market has come down to the bottom or buying zone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The government decision to allow the local levels’ 60% fund to be counted as deposits has had positive effect on the market, investors say. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">During today's trading, a total of 278 scrips exchanged their hands through 37,799 transactions. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> A total of 4,742,511shares were traded, amounting to Rs. 1.51 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Salt Trading Corporation (STC) recorded the highest turnover of Rs. 6.25 crores and closed at a market price of Rs. 5,700.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Similarly, Three Star Hydropower Limited (TSHL) gained the highest 9.98%, followed by Menchhiyam Hydropower Limited (MCHL) with 9.97%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Meanwhile, Siddhartha Investment Growth Scheme - 2 (SIGS2) lost the highest 7.43% today.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">In terms of sector indices, all indices closed green with Hotel and Tourism Index gaining the most among the indices with a positive gain of 3.45 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Sensitive Index increased by 2.06%, while Float Index and Sensitive Float Index surged by 2.37% and 2.26% respectively.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18696', 'image' => '20230911045853_collage (1).jpg', 'article_date' => '2023-09-11 16:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18966', 'article_category_id' => '1', 'title' => 'ŠKoda Unveils All-New Slavia Sedan in Nepal', 'sub_title' => '', 'summary' => 'MAW Expanze Pvt. Ltd, the authorized distributor of ŠKoda in Nepal, has set the stage for a new era of automotive excellence with the official launch of the all-new ŠKoda Slavia sedan.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 11: MAW Expanze Pvt. Ltd, the authorized distributor of ŠKoda in Nepal, has set the stage for a new era of automotive excellence with the official launch of the all-new ŠKoda Slavia sedan. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Branded as 'Designed to be different,' the Slavia promises to elevate the driving experience in Nepal with its blend of cutting-edge design, advanced technology, and exceptional performance.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mr. Raunak Agarwal, Executive Director of MAW Expanze, described the Slavia as "the premium mid-size sedan made for those who want to create a distinct identity in the crowd.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Slavia 1.0 TSI packs a punch with its 1-liter, three-cylinder turbo petrol engine delivering 85 kW (115 Ps) of power and 178 Nm of torque.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It offers a choice between a 6-speed manual and a 6-speed torque converter automatic transmission, achieving impressive fuel efficiency at up to 19.47 km/l and accelerating from 0 to 100 km/h in just 10.7 seconds.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As for its dimensions, the Slavia sets itself apart as the tallest, widest, and longest sedan in its class, providing exceptional space for five adults and boasting a ground clearance of 179mm, ideal for tackling Nepal's rugged roads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Safety takes center stage with up to 6 airbags, Electronic Stability Control, Electronic Differential System, and Multi Collision Brake for added protection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additional safety features include parking sensors, automatic brake disc cleaning, a rear-view camera, and more. The Slavia has earned a prestigious 5-star rating in the Global NCAP for its safety measures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Inside, the Slavia offers a 10-inch advanced touchscreen with wireless Android Auto and Apple CarPlay, along with an 8-inch programmable digital cockpit for the driver's convenience. Rear passengers enjoy dual AC vents and dual USB ports for device charging.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ŠKoda Slavia is available in two transmission options, catering to different driving preferences and needs. For the manual transmission variant, the Slavia 1.0 TSI (MT) in the Active trim comes at a competitive price of Rs 49,40,000.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Ambition variant of the Slavia 1.0 TSI (AT) is priced at Rs 58,40,000/-. For those who desire the pinnacle of style, comfort, and advanced technology, the top-of-the-line Slavia 1.0 TSI (AT) in the Style trim is available at Rs 65,40,000/-.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18695', 'image' => '20230911042400_collage.jpg', 'article_date' => '2023-09-11 16:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '18964', 'article_category_id' => '1', 'title' => 'Investors' Attraction towards Shares of Commercial Banks Declining', 'sub_title' => '', 'summary' => 'September 11: The interest of investors in the shares of commercial banks, which were once considered attractive in the secondary market of securities, has been declining over the past few years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 11: The interest of investors in the shares of commercial banks, which were once considered attractive in the secondary market of securities, has been declining over the past few years. This is clearly evident from the data published by Nepal Stock Exchange (NEPSE) for the last three fiscal years (FY). Although the market capitalization of commercial banks is strong, the shares of commercial banks have recently taken a nosedive in the secondary market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Investor Navraj Dahal says that the investors’ attraction towards commercial banks has decreased as they are more attracted to other sectors that gives them more returns in a short period of time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, this is also due to the impact of the share mortgage loan limit. The investors are not happy with the limit of share mortgage loan fixed by the authorities. </span></span></span></span></p> <p><span style="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 investors have a perception that they can be forced to sell the shares if they take loans by keeping their shares as collateral. This has given them an impression that buying shares is not a good idea.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Many investors buy shares of commercial banks basically to take loans. It is because they believe that they will get more loans by gaining the trust of the banks. But, if the central bank makes some policy changes, they will have to sell the shares under pressure. That's why they opt for other safe areas for investment," said Dahal, adding, "Another reason is the declining dividend of commercial banks. Earlier they used to give good dividends. Currently, they are not able to do that because of the lack of business growth according to the increased capital after merger. Today, small companies give the returns that commercial banks used to give.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Another investor, Manju Parajuli, says that since the shares of commercial banks are in the hands of many people, it is not possible to make huge capital gains by manipulating them like the shares of other sectors. The latest quarterly financial statements have shown that bad loans of commercial banks have increased significantly. That is why their shares are not preferred by investors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the data of NEPSE for the last three years, it seems that the share transactions of commercial banks has decreased significantly. In the fiscal year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the share of commercial banks was 25.99 percent of the total transactions, but by the end of 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"">, it decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14.31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the commercial bank traded </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">951</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million shares worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">378</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, while in the last fiscal year, only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">217</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million shares worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66.85</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were traded.</span></span></span></span></p> <p><span style="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 shares transactions of hydropower group is increasing. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the share of this group in the total turnover was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15.27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, but it increased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27.88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, with the increase in the number of listed hydropower companies, share trading has also increased. Since the number of shares of this group of companies is low, there is also a situation where the price can be reduced by manipulation. Therefore, investors are more interested in the shares of such companies.</span></span></span></span></p> <p><span style="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 share trading of hotels and tourism groups is also increasing recently. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, this group accounted for only 0.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total turnover, which has increased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel and tourism sector, affected by the Coronavirus pandemic, has now progressed significantly. The arrival of foreign tourists also improved in April, May and June. Due to the increase in tourism activities, the business of the hotel sector has increased significantly, and the profits of these companies have also increased. This is also believed to have attracted investors. In the past few months, the share price of this group of companies has doubled.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18694', 'image' => '20230911034153_1692647212.1689909254.2023-07-21 08.58.56.jpg', 'article_date' => '2023-09-11 15:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18965', 'article_category_id' => '1', 'title' => 'Nepal-India Women Entrepreneurs Conference calls for Cooperation between Women Entrepreneurs', 'sub_title' => '', 'summary' => 'September 11: Stakeholders have emphasized the need for cooperation between women entrepreneurs of Nepal and India for skill development, marketing and technology transfer.', '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 11: Stakeholders have emphasized the need for cooperation between women entrepreneurs of Nepal and India for skill development, marketing and technology transfer. The participants of the Nepal-India International Women Entrepreneurs Conclave 2080 said that there are many similarities between the two neighboring countries and that cooperation is necessary for entrepreneurship development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the conclave in Kathmandu on Sunday, Foreign Minister NP Saud said that cooperation is necessary for the development of entrepreneurship. The conference was organized by the Central Committee of Women Entrepreneurs under the Federation of Nepalese Cottage and Small Industries (FNCSI). The event was co-organized by Indian Youth Chamber of Commerce and Global India Mission.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the program, Minister Saud said that the policy of the government is to promote, enhance and protect entrepreneurship. He said that women are coming forward not only politically but financially as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunita Dangol, deputy mayor of Kathmandu Metropolitan City, said that the metropolis has started training in every ward for the development of women's entrepreneurship. She emphasized the need to develop entrepreneurship that creates jobs. She informed that the metropolis has introduced a policy of giving up to </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""> percent tax exemption to those who want to do business. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Soni Mahato, the coordinator of the conference, said that the government should increase investment in this sector, facilitate the establishment of industries led by women, facilitate skill-based training, avail loans and support with appropriate technology, and also provide special tax exemptions in order to boost the morale of women entrepreneurs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">She said that if the government helps with tax and other issues, women will be more attracted towards domestic and small industry businesses. Women from all seven provinces of Nepal and women entrepreneurs from India who participated in the program were honored.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18693', 'image' => '20230911035447_1694387134.1 women.jpg', 'article_date' => '2023-09-11 15:54:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18963', 'article_category_id' => '1', 'title' => 'Koshi Province Issues Two Ordinances to End Budget Holiday', 'sub_title' => '', 'summary' => 'September 11: After two weeks of budget holiday in Koshi Province, the government led by newly appointed Chief Minister Hikmat Karki has issued Economic Ordinance 2080 and Appropriation Ordinance 2080 to remove this situation.', '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 11: After two weeks of budget holiday in Koshi Province, the government led by newly appointed Chief Minister Hikmat Karki has issued Economic Ordinance </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and Appropriation Ordinance </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to remove this situation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the issuance of the ordinances, the provincial government will now be able to spend and collect taxes. For the past few weeks, the government had been unable to spend and collect taxes in the current fiscal year due to constitutional hurdle.</span></span></span></span></p> <p><span style="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 Council of Ministers of the Koshi provincial government decided to present the two ordinances to the province chief Parshuram Khapung on Friday night. On Sunday, both the ordinances were issued by provincial chief Khapung. </span></span></span></span></p> <p><span style="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 ordinances brought earlier by the Koshi provincial government for the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23</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"">24 was not passed by the State Assembly and became automatically null and void. Both the ordinances issued on June 14 became null and void on August 27.</span></span></span></span></p> <p><span style="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 provincial budget was frozen since August 27 after the Supreme Court scrapped the Uddhav Thapa-led government and ordered it not to make any long-term decisions. The new ordinances were issued again after the Hikmat Karki-led government was formed recently.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">CPN-UML filed a writ in the Supreme Court questioning the legality of the vote of confidence taken by Thapa. On August 24, a single bench of Justice Ishwar Prasad Khatiwada issued an order in the name of the province government not to make any long-term decisions. </span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18692', 'image' => '20230911031829_1694387051.1 koshi.jpg', 'article_date' => '2023-09-11 15:17:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18962', 'article_category_id' => '1', 'title' => 'Government to Propose Pokhara Airport's Debt Waiver during PM’s Upcoming China Visit', 'sub_title' => '', 'summary' => 'September 11: The government has suffered a serious setback from Pokhara Regional International Airport (PRIA) built with Chinese investment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 11: The government has suffered a serious setback from Pokhara Regional International Airport (PRIA) built with Chinese investment. The setback is mainly due to the government’s inability to make the airport commercially viable. The PRIA was built with loan investment of Rs 22 billion from China.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, the government has done its homework to submit a proposal to the Chinese government for loan waiver during the upcoming state visit of Prime Minister Pushpa Kamal Dahal to China, said a highly-placed government source. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A senior official of the Office of the Prime Minister and Council of Ministers told New Business Age that the proposal related to loan waiver is being prepared in coordination with the Ministry of Foreign Affairs, Ministry of Tourism and Ministry of Finance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sources say that government officials are preparing the proposal in the context that it has been bearing the burden of paying the principal and interest of the loan due to lack of international flights at the newly built airport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In 2016, China's Exim Bank decided to provide a loan of Rs 22 billion for the construction of the airport. After that, the construction of the airport was started and it became operational from January 1 this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the agreement, the government will not have to pay the loan in the first seven years after signing the pact but the dues must be cleared within the next 20 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the government paid the first installment of 53.28 million yuan (about Rs 85 million) in April. According to the agreement, the second installment should be paid on September 18.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal has been exempted of paying interest on 25 percent of the total loan amount. The government has to pay around Rs 2 billion annually as interest and principal amount to the Exim Bank of China. Until the year 2035, installments of interest and principal amount must be paid every 6 months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Budhisagar Lamichhane, joint secretary of the Ministry of Culture, Tourism and Civil Aviation, says that in the present context, there is no situation to pay the principal and interest of PRIA from the airport’s own income.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"If the current situation continues, we will not be able to pay the debt," he said, "We will have to channel the earnings of other airports to pay for the loan."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that there is no alternative but to promote Pokhara Regional International Airport. However, after eight months of operation, regular international flights have not been taking place through the airport. There have been only two international flights from this airport so far.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The last international flight took place on September 9. A plane from Bhutan landed at the Pokhara Airport with three passengers from Paro Airport. Shortly thereafter, the aircraft returned to Bhutan carrying 42 American tourists.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, a Sichuan Airlines aircraft landed in Pokhara carrying 84 Chinese people who were participating in the Dragon Boat Race Festival on June 21.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is also confusion regarding the loan given by China to Pokhara International Airport. China calls it the flagship project under its 'Belt and Road Initiative'. The spokesperson of the Chinese Embassy in Nepal congratulated the Government of Nepal and the people of Nepal on the day of the inauguration of the airport and said, “Pokhara International Airport is a major project of Nepal-China BRI cooperation. Hearty congratulations to the government of Nepal and the people of Nepal.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to high-ranking sources, the government is also preparing a proposal seeking loan waiver of Chinese built Harbin aircraft that are currently grounded.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prime Minister Dahal on Sunday called for an all-party meeting to discuss his impending visit to China. The discussion held at the Prime Minister's Office, Singh Darbar, was attended by former prime ministers, leaders of major political parties represented in the Parliament, the foreign minister, and the former foreign ministers. During the meeting, they suggested to pay attention to the issue of balanced neighborhood policy and development. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => 'Pokara, airport, international, Nepal, china, loan, debt, interest, commercial, viable, BRI, belt, road, initiative, visit,, PM, prime, minister, waiver', 'description' => '', 'sortorder' => '18691', 'image' => '20230911010634_Pokhara-Airport 800.jpg', 'article_date' => '2023-09-11 13:03:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18961', 'article_category_id' => '1', 'title' => 'CNI Urges Government to Prioritize Domestic Production in 16th Plan', 'sub_title' => '', 'summary' => 'September 11: The Confederation of Nepalese Industries (CNI) has suggested the government to formulate the 16th five-year plan by giving priority to domestic production, import substitution and job creation.', '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 11: The Confederation of Nepalese Industries (CNI) has suggested the government to formulate the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th five-year plan by giving priority to domestic production, import substitution and job creation. </span></span></span></span></p> <p><span style="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 CNI submitted this suggestion to the National Planning Commission along with a copy of a study conducted by the confederation on the issues that should be prioritized while formulating the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th plan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rajesh Kumar Agarwal, president of the CNI handed over the suggestions to Vice-Chairman of the NPC, Dr Meen Bahadur Shrestha on Sunday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On that occasion, CNI President Agarwal stressed that the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th five-year plan should focus on industrial development. He also urged the NPC to adopt an integrated industrial development strategy for industrial development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Agrawal was of the view that there should be no land ceiling for industries, while the government should ensure policy stability and predictability.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He also requested the government to give priority to the 'Make in Nepal Swadeshi Campaign’ to promote domestic production.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the confederation also suggested the government to curb illegal transactions in 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"">According to the CNI, double taxation should be removed in order to promote Nepal’s exports to various countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> The CNI also stressed on government’s role in promoting employment-oriented skill development programmes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18690', 'image' => '20230911115347_20230828114446_CNIIII.jpg', 'article_date' => '2023-09-11 11:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: A groundbreaking ceremony was held for the development of the country's largest hydropower project to be built with the foreign direct investment (FDI) on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Energy Minister Shakti Bahadur Basnet laid the foundation stone of the 216-megawatt Upper Trishuli-1 Hydropower Project , which is being developed for domestic consumption with FDI from a Korean company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The dam and physical structures of the project are located at Haku village of Amachhodingmo Rural Municipality-1 while the underground powerhouse lies at Uttargaya Rural Municipality in Rasuwa district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the groundbreaking ceremony, Minister Basnet said the government is creating investment-friendly environment to lure international and domestic investors and to achieve economic prosperity in the country through hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The main investor of the project is South-East Power of Korea. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President and Chief Executive Officer of South-East Power Hau Chun Kim said development of the project would be instrumental to achieve economic prosperity by exporting surplus power to the neighboring countries and minimizing climate change impacts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Development of the project started in 2020 and the overall physical progress of the project is 22 per cent so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the dam under this project shall start after the monsoon is over. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total cost of the project is estimated to be US$ 647.3 million. Nine international financial institutions have agreed to invest US$ 453.2 million. The remaining amount will be managed through equity. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-13', 'keywords' => 'Trishuli, hydropower, project, foundation, FDI, Nepal, Korea', 'description' => '', 'sortorder' => '18706', 'image' => '20230912091454_20230306031824_Clipboard32.jpg', 'article_date' => '2023-09-12 21:13:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18975', 'article_category_id' => '1', 'title' => 'Online Registration of Companies from October 2 ', 'sub_title' => '', 'summary' => 'September 12: The registration of private and public limited companies will be available online from October 2. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: The registration of private and public limited companies will be available online from October 2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to deputy registrar at the Office of the Company Registrar, Shekhar Babu Karki, the office is switching to online registration to make its services prompt, reliable and technology-friendly. However, the renewal procedures are to continue physically for the time being until the office prepares online service for renewal. Karki said it will take some time to adjust the new software to launch online service for the renewal. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> It may be noted that the government is in the course of implementing its paperless governance concept with the use and promotion of information technology. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18704', 'image' => '20230912054433_on.jpg', 'article_date' => '2023-09-12 17:43:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18973', 'article_category_id' => '1', 'title' => 'NRB Under Pressure to Monitor Large Cooperatives', 'sub_title' => '', 'summary' => 'September 12: While the debate is going on about the formation of 'Second Tier Institution (STI)' to monitor and supervise savings and credit cooperatives, Nepal Rastra Bank (NRB) is under increasing pressure to monitor the cooperatives with large transactions.', '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 12: While the debate is going on about the formation of 'Second Tier Institution (STI)' to monitor and supervise savings and credit cooperatives, Nepal Rastra Bank (NRB) is under increasing pressure to monitor the cooperatives with large transactions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has mentioned in the budget for the current fiscal year that specialized regulatory agencies will be established and put into operation to make the regulation and supervision of cooperatives effective. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Associations and federations of cooperatives are also 'lobbying' for the formation of a separate regulatory body in line with the budget announcement. This issue was also discussed by the Cooperative Sector Reform Suggestion Taskforce. However, after the Asia Pacific Group (APG) under the Financial Action Task Force (FATF), an organization working to prevent money laundering, mentioned in its report that the monitoring of large trading institutions should be done through the central bank, Nepal Rastra Bank is under pressure to undertake the job. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the mutual evaluation report published by APG recently, it has been mentioned that the cooperatives whose main transactions are savings and loans of more than Rs 50 million annually should be monitored and supervised by the Department of Cooperatives, the central bank and the financial information unit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tolraj Upadhyay, the spokesperson of the Department of Cooperatives, says that the APG report is only a suggestion for the government and its implementation is not binding. </span></span></span></span></p> <p><span style="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 APG suggested, the government is under moral pressure, but there isn’t any obligation to implement the suggestion," he told New Business Age. He said that the monitoring body of cooperatives is being discussed in the ministry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last November, the APG, which had conducted an on-site study, submitted a report to the government stating that the monitoring and supervision of cooperatives was weak and the risk of preventing money laundering was high. Based on the report, the government in January registered a bill in Parliament to amend some laws related to prevention of money laundering and promotion of business environment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meenraj Kandel, president of the National Cooperative Federation, says it would be more effective to form a separate organization to monitor cooperatives instead of giving the responsibility to the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the lack of effective monitoring and supervision of these institutions, the savings of common people are at risk. Sudarshan Dhakal, the former registrar of the Department of Cooperatives, says that Nepal Rastra Bank cannot shy away from the responsibility of monitoring cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18702', 'image' => '20230912034106_20230619074931_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-12 15:40:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18972', 'article_category_id' => '1', 'title' => 'Cooperative Sector Reform Suggestion Taskforce Submits Report to PM Dahal ', 'sub_title' => '', 'summary' => 'September 12: The Cooperative Sector Reform Suggestion Taskforce submitted its report to Prime Minister Pushpa Kamal Dahal on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: The Cooperative Sector Reform Suggestion Taskforce submitted its report to Prime Minister Pushpa Kamal Dahal on Tuesday, according to Secretary at the Ministry of Land Management, Cooperatives and Poverty Alleviation, Gokarna Mani Duwadi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held on May 9 had formed the Cooperative Sector Reform Suggestion Taskforce under the coordination of National Planning Commission member, Dr Jaykant Raut. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The taskforce submitted the report to the government along with measures for the solution to the problems seen in the cooperative sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Duwadi shared that the taskforce has suggested to the government to bring some plans in order to give immediate relief to the victims of cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, it also suggested the government to take initiatives to resolve problems of the cooperative sector by making some legal reforms. "The report has short-term, mid-term and long-term suggestions," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Receiving the report, Prime Minister Dahal directed the bodies concerned to take initiative in order to resolve the problems of the cooperative sector, and to formulate necessary policy for the long-term solution to the problems, said Secretary Duwadi. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18701', 'image' => '20230912024644_Cooperative.jpg', 'article_date' => '2023-09-12 14:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18971', 'article_category_id' => '1', 'title' => 'PM Dahal holds Consultation with Nepal's Envoys to Discuss Issues of Labour Migration ', 'sub_title' => '', 'summary' => 'September 12: Prime Minister Pushpa Kamal Dahal on Monday held a meeting with heads and representatives of Nepali diplomatic missions abroad, with focus on the labour migration issues and possible ways for addressing them. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Prime Minister Pushpa Kamal Dahal on Monday held a meeting with heads and representatives of Nepali diplomatic missions abroad, with focus on the labour migration issues and possible ways for addressing them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, diplomatic mission chiefs for 13 countries put their views on the labor migration issues and their probable solutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Kewal Prasad Bhandari, gave his brief presentation that centered on labor migration issues, elucidating roles that diplomatic channels can play to mitigate these challenges. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentations highlighted various multi-dimensional aspects of labor migration including the current state of labour market and migration trends, the significance of remittance and its substantial impact, bilateral labour agreement and understanding, guideline on foreign employment demand attestation, the provision of shelter and support for migrants, labor permit issue, management of local employees, organizational arrangements and status of labour attachés, E-7 visa (specific activity) for South Korea, provision of Japan's specified skilled workers, and archiving of those labor migrants missing in the official records. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentation also sheds light on relief and rescue operations, as well as charitable efforts, the current status of legal defense mechanisms for labor migrants, labor relations and challenges, issues concerning domestic help and their working conditions, affiliation of migrants with the Social Security Fund, attestation of specified labor skills, training programs, and language proficiency, maximum consultancy fees for labor migration consultants, official channels for the entry and regulation of remittance flows, travel arrangements facilitated by travel agencies, possibilities for new labor destinations and expansion of the labor market and so on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The presentation included subjects ranging from issues of domestic workers to supply of workers as per the agreement between the governments of concerned countries, association with the social security fund, specialised labour, skills, training and test of language, service fees for counseling, bringing in remittance inflow through a formal channel, educational counseling, problems in the process of going for foreign employment, the potential of new labour destinations and labour market and expected achievements and results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The top 10 destinations for labour immigration for Nepali nationals are Qatar, Malaysia, Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, South Korea, Oman, Japan and Rumania. Similarly, the concept paper identified various problems faced by Nepali migrant workers at foreign jobs and offered alternatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The interaction, which will conclude on later today (Tuesday), will discuss an array of subjects ranging from demand letter verification to cheating in foreign employment, problems faced by workers at workplace, human trafficking, problems faced by Nepali workers at foreign jobs without proper documentation, the situation and problem of the free visa and free ticket scheme, e-visa, problems of seasonable visa, the effectiveness of diplomatic missions, and the methods to make labour immigration safe, respectable and credible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Others present on the occasion were Deputy Prime Minister and Defence Minister Purna Bahadur Khadka, Minister for Labour, Employment and Social Security Sharat Singh Bhandari, Minister for Foreign Affairs Narayan Prakash Saud, political advisor to the Prime Minister Haribol Gajurel, secretary of the government, Ambassador of Nepal to Austria Bharat Gautam, Ambassador to Oman Dornath Aryal, Ambassador to Germany Ramkaji Khadka, Ambassador to Japan Durga Prasad Subedi, Ambassador to South Korea Jyoti Pyakurel, Ambassador to Malaysia Dilli Raj Paudel and Ambassador to Qatar Naresh Bikram Dhakal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Ambassador to Bahrain Tirtha Raj Wagle, Ambassador to Pakistan Tapas Adhikari, Ambassador to Kuwait Ghana Shyam Lamsal, Ambassador to the United Arab Emirates Tej Bahadur Chhetri and Ambassador to Saudi Arabia Nawaraj Subedi separately tabled their reports on the situation of Nepali migrant workers at foreign jobs and ways to be taken to bring changes in the situation. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18700', 'image' => '20230912015255_Untitled.jpg', 'article_date' => '2023-09-12 13:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18969', 'article_category_id' => '1', 'title' => 'PM Directs NEA not to Cut Off Power Supply to Industries', 'sub_title' => '', 'summary' => 'September 12: Prime Minister Pushpa Kamal Dahal has directed Nepal Electricity Authority (NEA) to not stop electricity supply to the industries until the dispute over the tariff related to dedicated feeder and trunk line is resolved. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Prime Minister Pushpa Kamal Dahal has directed Nepal Electricity Authority (NEA) to not stop electricity supply to the industries until the dispute over the tariff related to dedicated feeder and trunk line is resolved. He said a study is being carried out to resolve the dispute over the tariff which the industries are yet to pay to the NEA. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal telephoned NEA Managing Director Kulman Ghising and issued this directive following his meeting with a delegation of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) led by its president Chandra Prasad Dhakal at the prime minister's official residence at Baluwatar on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the prime minister assured that he would take initiatives to sort out the dispute at the earliest by keeping the FNCCI, the Electricity Regulation Commission and NEA at one place. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA had on September 3 issued a notice requiring the industries to pay within 15 days their outstanding electricity tariff of the dedicated feeder and trunk line. It had warned the industries that electricity supply would be stopped if they failed to clear the dues within the deadline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNCCI has suggested to the government that special initiatives were needed to protect the industries in the present time of economic crisis when they are operating in less than 40 per cent of their capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We need support and cooperation at the present situation. Our demand is that more problems should not be created," said the FNCCI president Dhakal. FNCCI argued that the industries and businesses are facing continued crisis following the COVID-19 pandemic and the entrepreneurs would be further discouraged if power supply is cut in such a situation. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => 'electricity, tariff, dedicated, feeder, trunk, line, prime, minister, NEA, Kulman, Ghising, dues, crisis', 'description' => '', 'sortorder' => '18699', 'image' => '20230912114216_NEA_20191104081559.jpg', 'article_date' => '2023-09-12 11:41:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18970', 'article_category_id' => '1', 'title' => 'Constituent Assembly Chairperson Nembang No More', 'sub_title' => '', 'summary' => 'September 12: Constituent Assembly Chairperson and Vice-Chairperson of the CPN-UML Subas Chandra Nembang passed away this morning due to heart attack.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 12: Constituent Assembly Chairperson and Vice-Chairperson of the CPN-UML Subas Chandra Nembang passed away this morning due to heart attack. He was 70. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang, a former Speaker of the House of Representatives (HoR), died while undergoing treatment at Tribhuvan University Teaching Hospital (TUTH) at 1.30 am today, Nembang's personal secretary Krishna Prasad Kafle told RSS. He was rushed to the hospital after complications. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushna Kamal Dahal, CPN-UML Chairperson KP Sharma Oli, Speaker Devraj Ghimire, National Assembly Chairperson Ganesh Timilsina and other parties' leaders had reached the hospital after learning that Nembang suffered a heart attack.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel has expressed grief over the untimely demise of Constituent Assembly (CA) Chairperson Nembang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The President said he was shocked by the unexpected demise of Nembang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a tweet, President Paudel expressed his tribute to Nembang and extended deep condolences to the grief-stricken Nembang family, pro-republicans and his party, CPN-UML</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nemang, who was born on March 11, 1953, had developed his image as an accommodative leader in Nepali politics. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nembang’s constituency Ilam has plunged into sorrow after the untimely passing away of the federal parliamentarian. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had regularly been elected member of parliament from Ilam constituency-2 since 2000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang, who was born in Suntalabar nearby Ilam Bazaar, joined communist politics in 2029 BS when he was a student in Ilam Campus. While advocating for political change in the country, he was imprisoned in 2033 BS on a treason case. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nembang had served the country as a member of the National Assembly in 2048 and 2052 BS. He was the Minister for Law, Justice and Parliamentary Affairs under the Manmohan Adhikari-led communist government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had also served as the chairman of Public Accounts Committee in 2056 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Later, he served as the Speaker of reinstated parliament following the success of the People's Movement of 2062-63. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After winning election from Ilam in 2064 and 2070 BS, he had become the Chairperson of the Constituent Assembly. He had played coordinating role in promulgating the Constitution of Nepal 2015 as the chair of the Constituent Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had served the country as a Speaker for four times and was always picked to the post on consensus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The district-based political leaders, social activists and students have started paying tributes to the late leader and expressing sorrow through different media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the government has decided to perform last rites of Chairperson of the Constituent Assembly, Nembang, with state honours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the office of the Prime Minister and Council of Ministers today, expressed sorrow over the demise of leader Nembang and extended condolences to the bereaved family members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government decided to give state honours during Nembang’s funeral in recognition of his contribution to the constitution making process, said Minister for Culture, Tourism and Civil Aviation, Sudan Kirati. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The cabinet meeting also decided to give public holiday on the day the final rites of Chairperson Nembang will be performed. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18698', 'image' => '20230912124646_1694500534.subas .jpg', 'article_date' => '2023-09-12 12:45:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18968', 'article_category_id' => '1', 'title' => 'Mugu District Connected to National Grid', 'sub_title' => '', 'summary' => 'Mugu district of Karnali Province has been connected to the national grid with the expansion of electricity to the district headquarters, Gamgadhi .', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> September 11: Mugu district of Karnali Province has been connected to the national grid with the expansion of electricity to the district headquarters, Gamgadhi .</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">This achievement was made possible through the construction of an approximately 85-kilometer transmission line, extending from Nagma and reaching the district headquarters, Gamgadhi, with a 33-kilovolt (kV) transmission line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">With this, 76 of the total 77 districts have been linked to the national grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The Nepal Electricity Authority (NEA) has started supplying electricity to the Gamgadhi area from Sunday from the 400 kilowatts Gamgad small hydropower project. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Now, only Humla district is yet to be connected to the national grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">A survey is being conducted to connect the district to the national electricity transmission line, according to NEA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> With the access to the national grid, electrification will speed up in Mugu district, said the NEA executive director Kulman Ghising. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">There are 3,500 consumers of electricity in Mugu. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">To make power supply reliable and high-quality in Mugu, works are underway to upgrade the 11 kV substation at Gamgadhi to 33 kV, said the NEA Province Office Chief Shambhu Kusiyad Yadav. (RSS) </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-12', 'modified' => '2023-09-12', 'keywords' => '', 'description' => '', 'sortorder' => '18697', 'image' => '20230912055604_collage (12).jpg', 'article_date' => '2023-09-12 05:54:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18967', 'article_category_id' => '1', 'title' => 'NEPSE Index Gains Massive 44 Points; All Sectors Land in the Green', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index gained 44.30 points or 2.28% and closed at 1986.99 points on the second trading day of the week, Monday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">September 11: The Nepal Stock Exchange(NEPSE) Index gained 44.30 points or 2.28% and closed at 1986.99 points on the second trading day of the week, Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Stock market experts and seasoned investors say that the NEPSE registered the massive gains as the market has come down to the bottom or buying zone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The government decision to allow the local levels’ 60% fund to be counted as deposits has had positive effect on the market, investors say. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">During today's trading, a total of 278 scrips exchanged their hands through 37,799 transactions. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> A total of 4,742,511shares were traded, amounting to Rs. 1.51 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Salt Trading Corporation (STC) recorded the highest turnover of Rs. 6.25 crores and closed at a market price of Rs. 5,700.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Similarly, Three Star Hydropower Limited (TSHL) gained the highest 9.98%, followed by Menchhiyam Hydropower Limited (MCHL) with 9.97%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Meanwhile, Siddhartha Investment Growth Scheme - 2 (SIGS2) lost the highest 7.43% today.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">In terms of sector indices, all indices closed green with Hotel and Tourism Index gaining the most among the indices with a positive gain of 3.45 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Sensitive Index increased by 2.06%, while Float Index and Sensitive Float Index surged by 2.37% and 2.26% respectively.</span></span></span></p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18696', 'image' => '20230911045853_collage (1).jpg', 'article_date' => '2023-09-11 16:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18966', 'article_category_id' => '1', 'title' => 'ŠKoda Unveils All-New Slavia Sedan in Nepal', 'sub_title' => '', 'summary' => 'MAW Expanze Pvt. Ltd, the authorized distributor of ŠKoda in Nepal, has set the stage for a new era of automotive excellence with the official launch of the all-new ŠKoda Slavia sedan.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 11: MAW Expanze Pvt. Ltd, the authorized distributor of ŠKoda in Nepal, has set the stage for a new era of automotive excellence with the official launch of the all-new ŠKoda Slavia sedan. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Branded as 'Designed to be different,' the Slavia promises to elevate the driving experience in Nepal with its blend of cutting-edge design, advanced technology, and exceptional performance.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mr. Raunak Agarwal, Executive Director of MAW Expanze, described the Slavia as "the premium mid-size sedan made for those who want to create a distinct identity in the crowd.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Slavia 1.0 TSI packs a punch with its 1-liter, three-cylinder turbo petrol engine delivering 85 kW (115 Ps) of power and 178 Nm of torque.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It offers a choice between a 6-speed manual and a 6-speed torque converter automatic transmission, achieving impressive fuel efficiency at up to 19.47 km/l and accelerating from 0 to 100 km/h in just 10.7 seconds.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As for its dimensions, the Slavia sets itself apart as the tallest, widest, and longest sedan in its class, providing exceptional space for five adults and boasting a ground clearance of 179mm, ideal for tackling Nepal's rugged roads.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Safety takes center stage with up to 6 airbags, Electronic Stability Control, Electronic Differential System, and Multi Collision Brake for added protection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additional safety features include parking sensors, automatic brake disc cleaning, a rear-view camera, and more. The Slavia has earned a prestigious 5-star rating in the Global NCAP for its safety measures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Inside, the Slavia offers a 10-inch advanced touchscreen with wireless Android Auto and Apple CarPlay, along with an 8-inch programmable digital cockpit for the driver's convenience. Rear passengers enjoy dual AC vents and dual USB ports for device charging.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ŠKoda Slavia is available in two transmission options, catering to different driving preferences and needs. For the manual transmission variant, the Slavia 1.0 TSI (MT) in the Active trim comes at a competitive price of Rs 49,40,000.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Ambition variant of the Slavia 1.0 TSI (AT) is priced at Rs 58,40,000/-. For those who desire the pinnacle of style, comfort, and advanced technology, the top-of-the-line Slavia 1.0 TSI (AT) in the Style trim is available at Rs 65,40,000/-.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18695', 'image' => '20230911042400_collage.jpg', 'article_date' => '2023-09-11 16:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '18964', 'article_category_id' => '1', 'title' => 'Investors' Attraction towards Shares of Commercial Banks Declining', 'sub_title' => '', 'summary' => 'September 11: The interest of investors in the shares of commercial banks, which were once considered attractive in the secondary market of securities, has been declining over the past few years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 11: The interest of investors in the shares of commercial banks, which were once considered attractive in the secondary market of securities, has been declining over the past few years. This is clearly evident from the data published by Nepal Stock Exchange (NEPSE) for the last three fiscal years (FY). Although the market capitalization of commercial banks is strong, the shares of commercial banks have recently taken a nosedive in the secondary market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Investor Navraj Dahal says that the investors’ attraction towards commercial banks has decreased as they are more attracted to other sectors that gives them more returns in a short period of time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, this is also due to the impact of the share mortgage loan limit. The investors are not happy with the limit of share mortgage loan fixed by the authorities. </span></span></span></span></p> <p><span style="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 investors have a perception that they can be forced to sell the shares if they take loans by keeping their shares as collateral. This has given them an impression that buying shares is not a good idea.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Many investors buy shares of commercial banks basically to take loans. It is because they believe that they will get more loans by gaining the trust of the banks. But, if the central bank makes some policy changes, they will have to sell the shares under pressure. That's why they opt for other safe areas for investment," said Dahal, adding, "Another reason is the declining dividend of commercial banks. Earlier they used to give good dividends. Currently, they are not able to do that because of the lack of business growth according to the increased capital after merger. Today, small companies give the returns that commercial banks used to give.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Another investor, Manju Parajuli, says that since the shares of commercial banks are in the hands of many people, it is not possible to make huge capital gains by manipulating them like the shares of other sectors. The latest quarterly financial statements have shown that bad loans of commercial banks have increased significantly. That is why their shares are not preferred by investors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the data of NEPSE for the last three years, it seems that the share transactions of commercial banks has decreased significantly. In the fiscal year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the share of commercial banks was 25.99 percent of the total transactions, but by the end of 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"">, it decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14.31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the commercial bank traded </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">951</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million shares worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">378</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, while in the last fiscal year, only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">217</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million shares worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66.85</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were traded.</span></span></span></span></p> <p><span style="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 shares transactions of hydropower group is increasing. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the share of this group in the total turnover was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15.27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, but it increased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27.88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, with the increase in the number of listed hydropower companies, share trading has also increased. Since the number of shares of this group of companies is low, there is also a situation where the price can be reduced by manipulation. Therefore, investors are more interested in the shares of such companies.</span></span></span></span></p> <p><span style="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 share trading of hotels and tourism groups is also increasing recently. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077/78</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, this group accounted for only 0.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total turnover, which has increased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel and tourism sector, affected by the Coronavirus pandemic, has now progressed significantly. The arrival of foreign tourists also improved in April, May and June. Due to the increase in tourism activities, the business of the hotel sector has increased significantly, and the profits of these companies have also increased. This is also believed to have attracted investors. In the past few months, the share price of this group of companies has doubled.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18694', 'image' => '20230911034153_1692647212.1689909254.2023-07-21 08.58.56.jpg', 'article_date' => '2023-09-11 15:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18965', 'article_category_id' => '1', 'title' => 'Nepal-India Women Entrepreneurs Conference calls for Cooperation between Women Entrepreneurs', 'sub_title' => '', 'summary' => 'September 11: Stakeholders have emphasized the need for cooperation between women entrepreneurs of Nepal and India for skill development, marketing and technology transfer.', '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 11: Stakeholders have emphasized the need for cooperation between women entrepreneurs of Nepal and India for skill development, marketing and technology transfer. The participants of the Nepal-India International Women Entrepreneurs Conclave 2080 said that there are many similarities between the two neighboring countries and that cooperation is necessary for entrepreneurship development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the conclave in Kathmandu on Sunday, Foreign Minister NP Saud said that cooperation is necessary for the development of entrepreneurship. The conference was organized by the Central Committee of Women Entrepreneurs under the Federation of Nepalese Cottage and Small Industries (FNCSI). The event was co-organized by Indian Youth Chamber of Commerce and Global India Mission.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the program, Minister Saud said that the policy of the government is to promote, enhance and protect entrepreneurship. He said that women are coming forward not only politically but financially as well.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunita Dangol, deputy mayor of Kathmandu Metropolitan City, said that the metropolis has started training in every ward for the development of women's entrepreneurship. She emphasized the need to develop entrepreneurship that creates jobs. She informed that the metropolis has introduced a policy of giving up to </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""> percent tax exemption to those who want to do business. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Soni Mahato, the coordinator of the conference, said that the government should increase investment in this sector, facilitate the establishment of industries led by women, facilitate skill-based training, avail loans and support with appropriate technology, and also provide special tax exemptions in order to boost the morale of women entrepreneurs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">She said that if the government helps with tax and other issues, women will be more attracted towards domestic and small industry businesses. Women from all seven provinces of Nepal and women entrepreneurs from India who participated in the program were honored.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18693', 'image' => '20230911035447_1694387134.1 women.jpg', 'article_date' => '2023-09-11 15:54:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18963', 'article_category_id' => '1', 'title' => 'Koshi Province Issues Two Ordinances to End Budget Holiday', 'sub_title' => '', 'summary' => 'September 11: After two weeks of budget holiday in Koshi Province, the government led by newly appointed Chief Minister Hikmat Karki has issued Economic Ordinance 2080 and Appropriation Ordinance 2080 to remove this situation.', '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 11: After two weeks of budget holiday in Koshi Province, the government led by newly appointed Chief Minister Hikmat Karki has issued Economic Ordinance </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and Appropriation Ordinance </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to remove this situation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the issuance of the ordinances, the provincial government will now be able to spend and collect taxes. For the past few weeks, the government had been unable to spend and collect taxes in the current fiscal year due to constitutional hurdle.</span></span></span></span></p> <p><span style="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 Council of Ministers of the Koshi provincial government decided to present the two ordinances to the province chief Parshuram Khapung on Friday night. On Sunday, both the ordinances were issued by provincial chief Khapung. </span></span></span></span></p> <p><span style="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 ordinances brought earlier by the Koshi provincial government for the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23</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"">24 was not passed by the State Assembly and became automatically null and void. Both the ordinances issued on June 14 became null and void on August 27.</span></span></span></span></p> <p><span style="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 provincial budget was frozen since August 27 after the Supreme Court scrapped the Uddhav Thapa-led government and ordered it not to make any long-term decisions. The new ordinances were issued again after the Hikmat Karki-led government was formed recently.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">CPN-UML filed a writ in the Supreme Court questioning the legality of the vote of confidence taken by Thapa. On August 24, a single bench of Justice Ishwar Prasad Khatiwada issued an order in the name of the province government not to make any long-term decisions. </span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18692', 'image' => '20230911031829_1694387051.1 koshi.jpg', 'article_date' => '2023-09-11 15:17:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18962', 'article_category_id' => '1', 'title' => 'Government to Propose Pokhara Airport's Debt Waiver during PM’s Upcoming China Visit', 'sub_title' => '', 'summary' => 'September 11: The government has suffered a serious setback from Pokhara Regional International Airport (PRIA) built with Chinese investment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 11: The government has suffered a serious setback from Pokhara Regional International Airport (PRIA) built with Chinese investment. The setback is mainly due to the government’s inability to make the airport commercially viable. The PRIA was built with loan investment of Rs 22 billion from China.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, the government has done its homework to submit a proposal to the Chinese government for loan waiver during the upcoming state visit of Prime Minister Pushpa Kamal Dahal to China, said a highly-placed government source. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A senior official of the Office of the Prime Minister and Council of Ministers told New Business Age that the proposal related to loan waiver is being prepared in coordination with the Ministry of Foreign Affairs, Ministry of Tourism and Ministry of Finance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sources say that government officials are preparing the proposal in the context that it has been bearing the burden of paying the principal and interest of the loan due to lack of international flights at the newly built airport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In 2016, China's Exim Bank decided to provide a loan of Rs 22 billion for the construction of the airport. After that, the construction of the airport was started and it became operational from January 1 this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the agreement, the government will not have to pay the loan in the first seven years after signing the pact but the dues must be cleared within the next 20 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the government paid the first installment of 53.28 million yuan (about Rs 85 million) in April. According to the agreement, the second installment should be paid on September 18.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal has been exempted of paying interest on 25 percent of the total loan amount. The government has to pay around Rs 2 billion annually as interest and principal amount to the Exim Bank of China. Until the year 2035, installments of interest and principal amount must be paid every 6 months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Budhisagar Lamichhane, joint secretary of the Ministry of Culture, Tourism and Civil Aviation, says that in the present context, there is no situation to pay the principal and interest of PRIA from the airport’s own income.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"If the current situation continues, we will not be able to pay the debt," he said, "We will have to channel the earnings of other airports to pay for the loan."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that there is no alternative but to promote Pokhara Regional International Airport. However, after eight months of operation, regular international flights have not been taking place through the airport. There have been only two international flights from this airport so far.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The last international flight took place on September 9. A plane from Bhutan landed at the Pokhara Airport with three passengers from Paro Airport. Shortly thereafter, the aircraft returned to Bhutan carrying 42 American tourists.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, a Sichuan Airlines aircraft landed in Pokhara carrying 84 Chinese people who were participating in the Dragon Boat Race Festival on June 21.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is also confusion regarding the loan given by China to Pokhara International Airport. China calls it the flagship project under its 'Belt and Road Initiative'. The spokesperson of the Chinese Embassy in Nepal congratulated the Government of Nepal and the people of Nepal on the day of the inauguration of the airport and said, “Pokhara International Airport is a major project of Nepal-China BRI cooperation. Hearty congratulations to the government of Nepal and the people of Nepal.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to high-ranking sources, the government is also preparing a proposal seeking loan waiver of Chinese built Harbin aircraft that are currently grounded.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prime Minister Dahal on Sunday called for an all-party meeting to discuss his impending visit to China. The discussion held at the Prime Minister's Office, Singh Darbar, was attended by former prime ministers, leaders of major political parties represented in the Parliament, the foreign minister, and the former foreign ministers. During the meeting, they suggested to pay attention to the issue of balanced neighborhood policy and development. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => 'Pokara, airport, international, Nepal, china, loan, debt, interest, commercial, viable, BRI, belt, road, initiative, visit,, PM, prime, minister, waiver', 'description' => '', 'sortorder' => '18691', 'image' => '20230911010634_Pokhara-Airport 800.jpg', 'article_date' => '2023-09-11 13:03:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18961', 'article_category_id' => '1', 'title' => 'CNI Urges Government to Prioritize Domestic Production in 16th Plan', 'sub_title' => '', 'summary' => 'September 11: The Confederation of Nepalese Industries (CNI) has suggested the government to formulate the 16th five-year plan by giving priority to domestic production, import substitution and job creation.', '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 11: The Confederation of Nepalese Industries (CNI) has suggested the government to formulate the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th five-year plan by giving priority to domestic production, import substitution and job creation. </span></span></span></span></p> <p><span style="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 CNI submitted this suggestion to the National Planning Commission along with a copy of a study conducted by the confederation on the issues that should be prioritized while formulating the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th plan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rajesh Kumar Agarwal, president of the CNI handed over the suggestions to Vice-Chairman of the NPC, Dr Meen Bahadur Shrestha on Sunday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On that occasion, CNI President Agarwal stressed that the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th five-year plan should focus on industrial development. He also urged the NPC to adopt an integrated industrial development strategy for industrial development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Agrawal was of the view that there should be no land ceiling for industries, while the government should ensure policy stability and predictability.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He also requested the government to give priority to the 'Make in Nepal Swadeshi Campaign’ to promote domestic production.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the confederation also suggested the government to curb illegal transactions in 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"">According to the CNI, double taxation should be removed in order to promote Nepal’s exports to various countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> The CNI also stressed on government’s role in promoting employment-oriented skill development programmes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-11', 'modified' => '2023-09-11', 'keywords' => '', 'description' => '', 'sortorder' => '18690', 'image' => '20230911115347_20230828114446_CNIIII.jpg', 'article_date' => '2023-09-11 11:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
