September 8: The Government of Nepal is preparing to monitor the transactions of multinational companies doing business in Nepal.…
September 8: The Government of Nepal is preparing to monitor the transactions of multinational companies doing business in Nepal.…
September 8: The Seventh National Agricultural Census 2078 released by the National Statistics Office (NSO) in Thursday shows that only 45 percent of households involved in farming in Nepal, a predominantly agricultural country, are able to cultivate food crops enough to feed themselves throughout the…
September 8: Altogether 51 local units across the country have not yet been able to come up with their budget for the current fiscal year (FY)…
September 8: The Supreme Court (SC) on Thursday issued a mandamus order to form a new Council of Ministers in Koshi Province within 48 hours.…
Ainapahara waterfall, seated in the Abukhaireni rural municipality-2 of Tanahu district, has emerged as a favourite destination for domestic…
September 7: The Civil Aviation Authority of Nepal (CAAN) has endorsed a budget of Rs 36.66 billion for the fiscal year…
September 7: Biratnagar chapter of the Federation of Nepalese Chamber of Commerce and Industry President Rajendra Raut shared that the industrial sector has suffered due to exorbitant interest rates of banks and other problems caused by the policy adopted by the Nepal Rastra Bank…
September 7: Over the counter (OTC) market is on a rise in recent…
September 7: Nepal Rastra Bank is going to test its digital currency within the current fiscal…
September 7: The Nepal Electricity Authority (NEA) has built 51 fast-charging stations for electric vehicles with an investment of Rs 400…
September 7: Ncell Axiata Limited has announced collaboration with the government to facilitate the operation of Hello Sarkar’s toll-free number 1111 round the…
September 7: Yamaha Nepal has announced to take 10 Yamaha owners on an eight-day trip from Katmandu to Noida-based Buddh International Circuit under its ‘Ride to MotoGP’ scheme to watch the event in…
September 6: Nepal Telecom Corporation (NTC) has expanded internet service in four districts in eastern Nepal including Dhankuta, Tehrathum, Sankhuwasabha and Bhojpur by laying optical…
Due to the consumption of poisonous grass, seven cows in a single farm have died in Bharatpur, Chitwan. Out of 11 cows, seven of them have died at Shubh Narayani Cow Farm, in Bharatpur-11 due to the consumption of poisonous…
The Nepal Stock Exchange (NEPSE) has approved final membership licenses for 11 new broker companies. This decision was made during the NEPSE Board of Directors meeting held on…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18945', 'article_category_id' => '1', 'title' => 'Government to Monitor Transactions of Multinational Companies in Nepal', 'sub_title' => '', 'summary' => 'September 8: The Government of Nepal is preparing to monitor the transactions of multinational companies doing business in Nepal. ', '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"">Bijay Damase</span></span></span></span></p> <p><span style="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 8: The Government of Nepal is preparing to monitor the transactions of multinational companies doing business in Nepal. The government is trying to implement 'transfer pricing' guidelines to monitor the actual transactions and income of those 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"">According to the Inland Revenue Department, this will clearly reveal whether the multinational companies operating in Nepal have paid the taxes based on actual volume of transactions or not.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department said that a policy to prevent tax evasion will be taken based on the record of their business and transactions in the 'transfer pricing' system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bimal Sapkota, director of the policy analysis branch of the Inland Revenue Department, said that this type of surveillance is being carried out to control tax evasion that may be caused by base erosion and profit shifting as well as profit fragmentation through 'transfer pricing'.</span></span></span></span></p> <p><span style="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 trend of multinational companies establishing branches in Nepal is increasing recently. Officials claim that they are paying unnaturally higher rates than the prevailing rates in the market by taking services such as consulting, management and purchasing goods from the parent company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'Transfer price' is the price paid when the business or subsidiary or affiliated companies under the same owner or common control buy and sell goods or services to each other. In such a transaction, the company can reduce its tax liability by showing that the profit of one of its own units, subsidiaries or affiliated companies has gone into losses in a planned way or transfer the profits of one company to another unit or subsidiary company. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Transfer pricing" also helps to shift the profit earned by the company in a country with a high tax rate to a country with a low tax rate. In this, the company sells its services or goods to any unit, branch or subsidiary/affiliate within the company for money. It is like buying goods or services from the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transfer pricing is considered a legal technique by which companies transfer profits to reduce the tax liability of the parent company. This practice reduces the tax expenses of companies. The state does not get the revenue it should get. Due to the increasing tendency of companies to hide a large part of their taxable income in this way in recent years, most of the countries in the world have started to control tax evasion through 'transfer pricing'.</span></span></span></span></p> <p><span style="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 department, the draft of 'Transfer Pricing Guidelines' has been prepared. Director Sapkota informed that it is ready to be implemented. "The final guideline will come and be implemented in one or two months," he said, "The only reason for developing the transfer pricing system is to hold the multinational companies accountable for the actual transactions in Nepal."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department believes that when the tax administration starts looking at 'transfer pricing', such companies will keep proper details and records. In the budget of the current fiscal year, it is mentioned that the 'transfer pricing' policy will be implemented from this year. According to tax officials, Google, Facebook and others are doing business outside Nepal. They do not come under the 'transfer pricing' monitoring. They have been brought under the ambit of taxation since last year by imposing electronic service tax and value added tax. The tax administration of Nepal cannot impose tax on their separate profit and loss account.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have been levied </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""> percent service tax and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent value added tax since last year. Now </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10/12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> such companies have come under the scope of tax. Nine international companies dealing in electronic services in Nepal have already paid taxes of about Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Those international companies registered with the Inland Revenue Department have paid the amount under the title of value addition only in the last fiscal year (FY) </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"">22</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"">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"">The process of registering such companies for tax is increasing.</span></span></span></span></p> <p><span style="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 nineties, the practice of 'transfer pricing' was widespread. Many American multinational companies, including Amazon, Apple, Google, and Starbucks, moved their profits to "tax haven" countries by adopting the method of "transfer pricing". Many countries, including the United States and Britain, started strongly opposing it. Most of these companies were fined billions of dollars after it was confirmed that they had shifted their profits with the help of 'transfer pricing'.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => 'transfer, pricing, multinational, companies, Nepal, government, monitor, profit, transaction, actual, Google, Amazon, evasion, tax', 'description' => '', 'sortorder' => '18674', 'image' => '20230908030244_Finshots--12455-03.jpg', 'article_date' => '2023-09-08 15:01:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18944', 'article_category_id' => '1', 'title' => '55 Percent of Families Engaged in Farming cannot Feed themselves Throughout the Year', 'sub_title' => '', 'summary' => 'September 8: The Seventh National Agricultural Census 2078 released by the National Statistics Office (NSO) in Thursday shows that only 45 percent of households involved in farming in Nepal, a predominantly agricultural country, are able to cultivate food crops enough to feed themselves throughout the year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 8: The Seventh National Agricultural Census 2078 released by the National Statistics Office (NSO) in Thursday shows that only 45 percent of households involved in farming in Nepal, a predominantly agricultural country, are able to cultivate food crops enough to feed themselves throughout the 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"">According to the agricultural census data, out of the total 66,67,000 households in Nepal, 41,30,789 families depend on agriculture for their livelihood. It means that 62 percent of the households in Nepal are engaged in agriculture.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among them, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families are able to feed themselves all year round with the income from their own agricultural 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"">In other words, roughly around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</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"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000 families involved in agriculture can feed themselves throughout the year while the number of farming families who cannot feed themselves all year round with their own produce stands at around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000, which is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</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 last decade, the number of families involved in farming that could produce enough for a year has increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points. In the previous count, the number of farming families who could feed themselves round the year their own produce was </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. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director of Agriculture and Livestock Counting Branch of the NSO, Badri Kumar Karki, said that the easy availability of chemical fertilizers, the use of advanced seeds and the availability of pesticides for crop diseases are the main reasons for the increase in the number of farmers who have adequate access to food. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, he says that this increase cannot be considered satisfactory as the number of people shifting from agricultural profession to other professions is increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families involved in farming say that they do not have enough food for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families say that they do not have enough food for three months. As per the previous agricultural census, the percentage of families not having enough food for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">44</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">and those who did not have enough food for even </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</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 order to make up for the shortfall, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families involved in farming make a living by doing labor work within the country. Eighteen percent said that they opted for foreign employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households said that they are engaged in non-agricultural works while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent said they took loans meet the daily expenses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Uddhav Adhikari, coordinator of the Agricultural Campaign for Food, said that the agriculture sector has been affected by damage caused by wild animals and climate change among others.</span></span></span></span></p> <p><span style="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 area of cultivated land decreased</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last decade, the area of agricultural land in Nepal has decreased. According to the seventh agricultural census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million hectares of arable land. Compared to the agricultural census of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2068</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the cultivable land has declined by 308,000. Back then, farmers used to cultivate on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million hectares of land.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the area of cultivated land has decreased, the number of families engaged in agricultural work has increased, the data shows. According to the new data, the number of farming families has increased by around </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"">00,000. Currently, around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">41</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">families are involved in agriculture across the country. In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2068</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, this number was roughly around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director Karki says that this number has increased not because of people leaving other professions and embracing agriculture, but because of the breakup of families engaged in agricultural work.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18673', 'image' => '20230908124019_agri maize.jpg', 'article_date' => '2023-09-08 12:39:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18943', 'article_category_id' => '1', 'title' => '51 Local Bodies yet to Unveil Budget', 'sub_title' => '', 'summary' => 'September 8: Altogether 51 local units across the country have not yet been able to come up with their budget for the current fiscal year (FY) 2023/24.', '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 8: Altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">51</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> local units across the country have not yet been able to come up with their budget for the current fiscal year (FY) </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</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"">According to the Inter-Governmental Fiscal Arrangement Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the local bodies across the country must unveil the budget for the next fiscal year by June 25</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"">The Ministry of Federal Affairs and General Administration has informed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">51</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> local levels out of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">753</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> across the country have not yet announced the budget.</span></span></span></span></p> <p><span style="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 local government cannot spend budget from the accumulated funds without endorsing the budget. Auditor General will raise questions if spending is done without passing budget. The National Natural Resources and Fiscal Commission also cuts the subsidy of the local level that does not bring the budget on 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 the ministry, there are four municipalities in Koshi province, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Madhesh Province, </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""> in Bagmati Province, </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""> in Gandaki Province, </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""> in Lumbini Province, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Karnali Province and </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""> in Far West Province that have not yet unveiled their budgets. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the local levels that have failed to unveil the budget for the current fiscal year within the constitutional deadline fall in Madhes Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no consensus in forming the budget especially when the mayor of a particular local body belongs to one political party and the other parties have majority in the executive body.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Purushottam Ghimire, chief administrative officer of Kanchanrup Municipality of Saptari, said that the budget has not been announced due to lack of consensus. </span></span></span></span></p> <p><span style="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 people’s representatives have not been able to reach an understanding to announce the budget. Efforts are being made to reach an agreement," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rajviraj and Hanumannagar Kankalini municipalities of Saptari and Chinnamasta, Mahadeva, Rupni and Balan-Bihul Rural Municipality are also unable to bring the budget due to internal disputes among the people’s representatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sirah has a similar problem. Kalyanpur Municipality of Siraha and Aurhi, Navrajpur and Bhagwanpur Rural Municipality have not announced their budget. Kamala Municipality of Dhanusha, Dhanauji Rural Municipality and Sonama Rural Municipality of Mahottari have not announced their budget as well. Sarlahi's Balra, Hariwan and Haripurwa municipalities and Chandranagar Rural Municipality have not announced their budget either. It has raised questions about the responsibility and good governance of the local level.</span></span></span></span></p> <p><span style="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 local governments cannot spend money from the accumulated fund until the budget is passed by the Municipal Council. It is illegal for the local level to spend the budget without passing the budget. Joint secretary of the federal affairs ministry, Kamal Prasad Bhattarai, says that the local level is not serious about this arrangement. </span></span></span></span></p> <p><span style="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, if the budget is not brought on time, the local government will not be able to spend the budget. As the local governments are autonomous, the federal government cannot legally punish those who do not announce the budget on time. In this case, the program implemented by the local government is affected. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18672', 'image' => '20230908115059_1683767264.jpg', 'article_date' => '2023-09-08 11:50:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18942', 'article_category_id' => '1', 'title' => 'SC Issues Mandamus Order to Form New Government in Koshi Province within 48 Hours ', 'sub_title' => '', 'summary' => 'September 8: The Supreme Court (SC) on Thursday issued a mandamus order to form a new Council of Ministers in Koshi Province within 48 hours. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: The Supreme Court (SC) on Thursday issued a mandamus order to form a new Council of Ministers in Koshi Province within 48 hours. The apex court issued such an order after concluding that the vote of confidence taken by Chief Minister Uddhab Thapa was unconstitutional. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of justices Sapana Pradhan Malla, Dr Kumar Chudal and Nahakul Subedi issued the mandamus order in the name of Koshi Province chief to form a new government as per the Article 168 (3) of the Constitution of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC said that the parliamentary party leader of a single largest party is deemed necessary to be appointed as the chief minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC has stated that opting for the alternatives given by the constitution is appropriate in terms of healthy constitutional exercise instead of applying a single option repeatedly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The parliamentary party leader of the CPN (UML) Koshi Province Hikmat Kumar Karki had lodged a petition at the SC stating that the process to obtain vote of confidence by Chief Minister Thapa was unconstitutional. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa had taken the vote of confidence from the province assembly on August 23. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => 'supreme, court, new, government, council, ministers, Koshi, province, unconstitutional, mandamus, order', 'description' => '', 'sortorder' => '18671', 'image' => '20230908110339_Supreme Court.jpg', 'article_date' => '2023-09-08 11:02:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18941', 'article_category_id' => '1', 'title' => 'Ainapahara Waterfall Gaining Popularity Among Domestic Tourists in Tanahun', 'sub_title' => '', 'summary' => 'Ainapahara waterfall, seated in the Abukhaireni rural municipality-2 of Tanahu district, has emerged as a favourite destination for domestic tourists.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 8 : Ainapahara waterfall, seated in the Abukhaireni rural municipality-2 of Tanahu district, has emerged as a favourite destination for domestic tourists.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Previously, the site lacked proper management, but significant improvements have transformed its overall appeal. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Local representatives are now dedicatedly working towards establishing Ainapahara as a prominent tourism hotspot.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The primary objective is to elevate Ainapahara waterfall into a recreational haven for tourists. To achieve this, artisans are meticulously crafting artistic statues and structures from the natural rocks and stones found in the vicinity of Ainapahara.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Abukhaireni rural municipality has initiated the creation of sculptures, such as those depicting a mother and son, to enhance the tourism potential of the area.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These efforts have led to a notable increase in the number of tourists visiting Ainapahara, with local resident Bijay Gurung expressing optimism about its prospects as a tourism destination, particularly due to its proximity to the Prithvi Highway.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shukra Chuman, the Chairperson of Abukhaireni rural municipality, highlighted the role of social media in boosting Ainapahara's popularity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The sharing of photos and videos of the site on social platforms has contributed to its growing appeal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the previous fiscal year, an allocation of Rs 14 million was earmarked for the construction of Ainapahara Park. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Chuman outlined a vision to develop Ainapahara as one of the premier tourism sites not just in Tanahu but also within the Gandaki Province.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> To make Ainapahara even more captivating, plans are underway to introduce sky-cycling and a glass walk bridge at the location. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a comprehensive master plan has been devised to ensure the systematic development of Ainapahara waterfall. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18670', 'image' => '20230908060317_collage (5).jpg', 'article_date' => '2023-09-08 06:00:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18940', 'article_category_id' => '1', 'title' => 'CAAN Unveils Budget of Over Rs 36 Billion ', 'sub_title' => '', 'summary' => 'September 7: The Civil Aviation Authority of Nepal (CAAN) has endorsed a budget of Rs 36.66 billion for the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The Civil Aviation Authority of Nepal (CAAN) has endorsed a budget of Rs 36.66 billion for the fiscal year 2023/24. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of CAAN’s Board of Directors approved the budget of Rs 36.66 billion for the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN spokesperson Jagannath Niraula said the budget for the current fiscal year has been allocated by determining priority sectors including aviation and air safety, infrastructure development, airport operation etc. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Niraula, the budget has prioritized collaboration with international organisations, increasing the services and facilities for passengers, income generation and fiscal discipline and human resources development, among others. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN has set the target of generating income of Rs 15.88 billion in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, looking at the records of CAAN, the aviation regulatory body has failed to meet its income target in the last four years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CAAN admitted that it has not been able to generate income as per the target since the fiscal year 2019/20 due to the coronavirus pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CAAN earns income from fees collected from landing, parking, ground handling of aircraft as well as the rent of the airport and physical infrastructures of the CAAN. (With inputs from RSS)</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18669', 'image' => '20230907060137_20230901035752_1693541792.jpg', 'article_date' => '2023-09-07 18:01:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18939', 'article_category_id' => '1', 'title' => '‘Industrialists at the Receiving End due to NRB’s Policy’', 'sub_title' => '', 'summary' => 'September 7: Biratnagar chapter of the Federation of Nepalese Chamber of Commerce and Industry President Rajendra Raut shared that the industrial sector has suffered due to exorbitant interest rates of banks and other problems caused by the policy adopted by the Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Biratnagar chapter of the Federation of Nepalese Chamber of Commerce and Industry President Rajendra Raut shared that the industrial sector has suffered due to exorbitant interest rates of banks and other problems caused by the policy adopted by the Nepal Rastra Bank (NRB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a round table program organized by the International Finance Corporation (IFC) in Biratnagar on Tuesday, Raut said that the private sector, which had made some progress after tackling the issues like political instability, heavy load shedding, and India's blockade, got more affected by the Covid-19 pandemic and the Ukraine crisis. He said that the economy is headed towards further crisis due to additional problems including high interest rates of banks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FNCCI Koshi Province said that attention should be paid to aspects like development of competitiveness, marketing, revenue policy and administration of the government, investment environment, easy supply of energy, anti-export trade economy, preferential trade and open border with India. In the program, IFC's Nepal office head Babacar S. Faye said that the delegation is ready to cooperate with the private sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the economic census published by the government in 2075, there are 168,518 industries operating in Koshi Province, of which 66,783 industries are operating in Morang and Sunsari alone. In the last 10 years, more than 250 new productive industries have been registered with the Department of Industries in Morang and Sunsari districts of Koshi Province.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FNCCI Koshi Province has been saying that industries that can increase the availability of raw materials based on agriculture, forestry, mining and animal husbandry and industries focused on the processing of those products should be promoted. Officials of the Federation as well as representatives from Morang-Sunsari Industrial Zone, President of Morang Industry Association Rakesh Surana and representatives of business organizations and institutions participated in the program.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18668', 'image' => '20230907031127_1694054563.jane.jpeg', 'article_date' => '2023-09-07 15:10:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18938', 'article_category_id' => '1', 'title' => 'OTC Market Transactions Gaining Popularity', 'sub_title' => '', 'summary' => 'September 7: Over the counter (OTC) market is on a rise in recent years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Over the counter (OTC) market is on a rise in recent years. In particular, the shares of companies whose listings have been canceled from the secondary market and which have not entered the listing process are traded in the OTC market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NEPSE informed that billions of rupees worth of securities are traded annually in the OTC market based on the agreed price of the buyer and the seller without the help of the securities brokers. NEPSE has been operating the OTC market as well in its own office through a separate counter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Looking at the data of the last five fiscal years provided by NEPSE, it appears that the highest numbers of securities transactions were made in the fiscal year (FY) 2077/78 with trading of approximately 12.6 million shares worth around Rs 2.93 billion. Before that, in the year 2075/76, around 16 million shares worth Rs 2.16 billion were traded.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Looking at the data of five years, in the years 2076/77 and 2078/79, the securities traded in the OTC market were worth less than Rs 2 billion. NEPSE informed that approximately 7.2 million shares worth around Rs 1.89 billion were traded in the year 2076/77 and around 11.7 million shares worth around Rs 1.53 billion in the year 2078/79.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the last fiscal year (FY 2079/80), around 2.1 million shares worth Rs 2.85 billion were traded. In terms of share, it seems that the last year saw the highest turnover in five years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Apart from the premium rates, there is an arrangement to buy shares of initial public offering (IPO) at a face value of Rs 100 per share in the primary market of securities. In the OTC market, there is no certainty in the price as the transaction is based on the agreed price of the buyer and the seller.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">There is also a situation where companies whose shares are traded at a higher price in the OTC market have issued IPO at a lower price. Hathaway Investment Nepal sold shares to the general public at a face value of Rs 50 per share. The company, which was trading at Rs 86 per share in the OTC market, sold the IPO at less than that price. Looking at the OTC market trading on June 6, a total of 357,295 shares of Hathaway Investments were traded at Rs 86 per share.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18667', 'image' => '20230907030323_1471338751226067.jpg', 'article_date' => '2023-09-07 15:02:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18937', 'article_category_id' => '1', 'title' => 'Central Bank to Test Digital Currency within Current Fiscal Year', 'sub_title' => '', 'summary' => 'September 7: Nepal Rastra Bank is going to test its digital currency within the current fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 7: Nepal Rastra Bank is going to test its digital currency within the current fiscal year. The central bank is going to develop the necessary infrastructure for issuing electronic currency and test it within a certain group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Our goal is to test the Central Bank Digital Currency (CBDC) within the current fiscal year by formulating the necessary laws, policies and developing the necessary technical infrastructure," Nepal Rastra Bank's Deputy Spokesperson Dr Dilliram Pokharel said, adding, “We have taken help from the International Finance Corporation (IFC) to this end.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank signed an agreement with the IFC last Monday for the setting up a new innovation and testing center known as the Regulatory Sandbox. It is said that new issues will be tested by creating a closed group of certain users through the 'Regulatory Sandbox'. CBDC will be put into public use only after successful testing within the closed group, said Deputy Spokesperson Pokharel.</span></span></span></span></p> <p><span style="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 interest shown by the general public in digital currency transactions and other countries also started issuing such currency, the central bank started the necessary homework to issue CBDC two years ago. Nepal Rastra Bank has formed a 'Steering Committee' under the coordination of Deputy Governor Bam Bahadur Mishra to advance the work of CBDC. A working group formed by the committee under the coordination of director Anuj Dahal for studying CBDC submitted a feasibility report in the previous 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"">Based on the study, the central bank while issuing the monetary policy said that further work will be carried forward regarding the issuance of CBDC. Accordingly, a separate unit has also been created in the Central Bank's Payment System Department.</span></span></span></span></p> <p><span style="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 feasibility study report conducted by the central bank has mentioned that it is appropriate to proceed with the CBDC project only by building a separate structure and team with the participation of all stakeholders. </span></span></span></span></p> <p><span style="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 initial stage, it has been suggested that a small unit can be set up within the Payment System Department or the Information Technology Department of the central bank and the work can be carried forward. </span></span></span></span></p> <p><span style="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 report has suggested to ensure high-level technology with security of data, capacity development of the central bank, detailed feasibility study, adequate legal system, target setting and public awareness before issuing CBDC. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the economy is gradually transforming from cash to digital, the report states that although electronic currency is necessary, political ownership and public acceptance are equally important for its success.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Central banks around the world have started issuing digital currencies with the increase in public interest in electronic currencies including 'cryptocurrencies' issued by the private sector. Since electronic money issued by the private sector does not have a legal basis or a responsible body, investing in it is considered risky. The electronic currency issued by the central bank is considered safe because it takes responsibility for it.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'digital, currency, Nepal, Rastra, Bank, electronic, IFC', 'description' => '', 'sortorder' => '18666', 'image' => '20230907012510_20230619074931_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-07 13:24:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18935', 'article_category_id' => '1', 'title' => 'NEA Launched 51 Rapid Charging Stations across the Country', 'sub_title' => '', 'summary' => 'September 7: The Nepal Electricity Authority (NEA) has built 51 fast-charging stations for electric vehicles with an investment of Rs 400 million.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 7: The Nepal Electricity Authority (NEA) has built 51 fast-charging stations for electric vehicles with an investment of Rs 400 million.</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"">The NEA on Wednesday inaugurated the 51 state-of-the-art fast charging stations built in main highways, bus parks and big cities of all seven provinces across the country.</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"">The charging stations were built with the investment of the NEA and concessional loans from the Asian Development Bank and the technical support from the Norwegian government under the EV Charging Infrastructure Development Project.</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"">According to the NEA, among the charging stations built at a cost of Rs 400 million, big buses, micro buses, trucks, pickups vans and cars can be charged in 26 stations while small and large cars can be charged in 25 of the newly built facilities.</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"">Minister for Energy, Water Resources and Irrigation Minister Shakti Bahadur Basnet and Secretary Dinesh Kumar Ghimire jointly inaugurated the fast charging stations constructed at the Nepal Police Club at Exhibition Road, Kathmandu.</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"">On the occasion, Minister Basnet described the operation of the 51 charging stations as an important step towards sustainable development of the country through reduction in carbon emissions and the adverse impact of climate change by means of consumption of clean energy. </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"">He mentioned that the government is working for policy and legal arrangements for the promotion of electric vehicles. He also said that efforts are being made to attract investors to produce electric vehicles in Nepal.</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"">NEA executive director Kulman Ghising said the charging stations have been set up for promoting EVs. Stating that EVs are 15 to 20 times cheaper than petrol-operated vehicles, he said the use of EVs will make positive contribution to the foreign currency reserves of the country. He shared that the NEA is going to install 500 more charging stations across the country. </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"">Chief of ADB South Asia Energy Division, Sujata Gupta said transport is an important sector for reducing carbon emissions and stressed on construction of infrastructures that promote the use of electric vehicles. </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"">After charging the vehicles, the customers can pay the bill through QR code and mobile app. </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'charging, stations, NEA, EV, electric, vehicles, clean, energy, ADB, Asian, Development Bank, Nepal, Electricity, Authority, cheap, efficient, fast, rapid, country', 'description' => '', 'sortorder' => '18665', 'image' => '20230907114127_20181206052724_Auto.jpg', 'article_date' => '2023-09-07 11:39:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18934', 'article_category_id' => '1', 'title' => 'Ncell Collaborates with Government to Facilitate Hello Sarkar', 'sub_title' => '', 'summary' => 'September 7: Ncell Axiata Limited has announced collaboration with the government to facilitate the operation of Hello Sarkar’s toll-free number 1111 round the clock.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Ncell Axiata Limited has announced collaboration with the government to facilitate the operation of Hello Sarkar’s toll-free number 1111 round the clock.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Issuing a recent statement, Ncell said its customers can now call the number for free to lodge their complaints.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prime Minister Pushpa Kamal Dahal had inaugurated the expanded operation of the Hello Sarkar services on Sunday. During the programme, the government had announced formally that the service has now been made accessible from the Ncell network too. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Inaugurating the services, Prime Minister Dahal said that it is a matter of happiness that Hello Sarkar will be operating 24/7 in three shifts to further strengthen the relationship between the government and the people. Talking about the Hello Sarkar and Ncell collaboration, he said, “I would like to thank Ncell for being connected with the Hello Sarkar.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hello Sarkar is a public grievances redressal mechanism that the government has been operating for the past 12 years to listen to the complaints and suggestions of the common citizens.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Expressing his excitement about this collaboration, Jabbor Kayumov, Chief Executive Officer and Managing Director of Ncell said, "Hello Sarkar is an exemplary mechanism of the Government of Nepal to listen to public concerns. We are delighted to collaborate with the government to contribute towards making the public service delivery even more effective as envisioned by the government.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Ncell users have been able to access Hello Sarkar’s toll-free number from the third week of August 2023. The announcement about the facility was made formally by the Office of the Prime Minister and Council of Ministers (OPMCM) on Sunday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the occasion, Chief Secretary Dr Baikuntha Aryal said that the government has also formed a Rapid Response Team to make the service of the Hello Sarkar more effective. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">As per the OPMCM, apart from phone calls, citizens can also lodge their grievances and suggestions through digital channels such as Email, Facebook, Twitter, Hello Sarkar Portal, Viber, WhatsApp, among others.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'Hello, sarkar, government, Nepal, Ncell, collaboration, complaints, effective, grievances', 'description' => '', 'sortorder' => '18664', 'image' => '20230907111811_ncell.jpg', 'article_date' => '2023-09-07 11:14:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18936', 'article_category_id' => '1', 'title' => 'Yamaha Announced Ride to MotoGP Trip', 'sub_title' => '', 'summary' => 'September 7: Yamaha Nepal has announced to take 10 Yamaha owners on an eight-day trip from Katmandu to Noida-based Buddh International Circuit under its ‘Ride to MotoGP’ scheme to watch the event in India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Yamaha Nepal has announced to take 10 Yamaha owners on an eight-day trip from Katmandu to Noida-based Buddh International Circuit under its ‘Ride to MotoGP’ scheme to watch the event in India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Wednesday, Yamaha Nepal said that the journey will take off from the Blue Square, Naxal on September 20 all the way to the Moto GP racing circuit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company stated that the selected Yamaha owners will get “true racing experience” at the MotoGP India from practice session, qualifiers to race. The MotoGP India is happening on September 22 to 24, 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Yamaha R15 has carried and infused the racing essence to the Nepalese community and has an excellent cult following. The ‘Ride to MotoGP’ is structured to acknowledge Yamaha owners’ passion over Yamaha sports motorcycles and MotoGP,” reads the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To be eligible for the trip, Yamaha Nepal said it has created a dedicated micro site where the owners can enter their initial details for the first round of registration. The registration for the first-round ends on Sept 9. Post registration Yamaha officials will inform the aspirants for further selection rounds. Yamaha said it will take 10 riders to India under certain terms and conditions. However, the company did not reveal the terms and conditions in the press statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We’ve seen many motorcycle and MotoGP fans getting Valentino Rossi VR46 stickers in their two wheelers. We are absolutely delighted to announce, ‘Ride to MotoGP’ offering an opportunity to owners who are passionate MotoGP fans, who want to witness the live race. We at Yamaha want to appeal to all the Yamaha owners to apply for the contest and experience this once in a lifetime opportunity,” the statement quoted Raju Chettri, CEO of MAW Two Wheelers Division, the authorized distributors of Yamaha brand in Nepal, as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement further says that Yamaha has a very prestigious racing legacy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Motorsports have been an essential part of Yamaha Motor’s corporate culture since its inception, and the first time a Yamaha motorcycle competed in earnest happened 10 days after the company was established, at the third Mount Fuji Ascent Race on July 10, 1955.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, the motive of Ride to MotoGP is to bring MotoGP experience closer to Nepal and add another milestone to aspire many motorsports enthusiasts towards racing. Yamaha Nepal claimed that it has been promoting racing events in Nepal.</span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'MotoGP, ride, Yamaha, Noida, Nepal, India', 'description' => '', 'sortorder' => '18663', 'image' => '20230907115911_ride.jpg', 'article_date' => '2023-09-07 11:58:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18933', 'article_category_id' => '1', 'title' => 'NTC Expands Internet Service to Four Districts of Eastern Nepal ', 'sub_title' => '', 'summary' => 'September 6: Nepal Telecom Corporation (NTC) has expanded internet service in four districts in eastern Nepal including Dhankuta, Tehrathum, Sankhuwasabha and Bhojpur by laying optical fibre.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: Nepal Telecom Corporation (NTC) has expanded internet service in four districts in eastern Nepal including Dhankuta, Tehrathum, Sankhuwasabha and Bhojpur by laying optical fibre. With the installation of the fibre, customers can now avail fast internet and 4G service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTC customers can have internet package ranging from up to 82,580 Mbps, said senior engineer Suman Acharya, chief of the NTC Dhankuta branch office. Internet has been expanded to Hile bazaar, Mulghat, Sindhuwa bazaar and Bhedetar bazaar in Dhankuta district, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the expansion of internet service in Pakhribas Municipality and Chaubise Rural Municipality in the district will be complete within the current fiscal year, added Acharya. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet service has also been expanded in Khandabari, Tumlingtar, Muheshanishare of Dharma Devi Municipality in Sankhuwasabha, while the works of installing optical fibre in Chainpur Municipality will begin this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet speed of 100 Gbps has been set up in Itahari of Sunsari district, Hile of Dhankuta, Myanglung of Tehrathum, Phidim of Panchthar and Birtamod of Jhapa. In Dhankuta, 8,000 households have been using internet, 1,500 in Bhojpur, 2,000 in Sankhuwasabha and 1,500 in Tehrathum. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'Internet, Nepal, eastern, telecom, NTC, optical, fibre, high, speed, mbps, gbps', 'description' => '', 'sortorder' => '18662', 'image' => '20230907105804_internet.jpg', 'article_date' => '2023-09-07 10:56:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18932', 'article_category_id' => '1', 'title' => 'Toxic Grass Kills Seven Cows in Chitwan', 'sub_title' => '', 'summary' => 'Due to the consumption of poisonous grass, seven cows in a single farm have died in Bharatpur, Chitwan. Out of 11 cows, seven of them have died at Shubh Narayani Cow Farm, in Bharatpur-11 due to the consumption of poisonous grass.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">September 7: Due to the consumption of poisonous grass, seven cows in a single farm have died in Bharatpur, Chitwan. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Out of 11 cows, seven of them have died at Shubh Narayani Cow Farm, in Bharatpur-11 due to the consumption of poisonous grass.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The farm's operator, Shiv Lamichhane, said that they noticed that the cows had become sick after eating grass since last Sunday after they had the grass. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Initially, the sick cows were provided home treatment as they stopped drinking water. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Despite providing home remedies, the cows did not recover, so they had informed veterinary doctors. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Even after receiving professional treatment, condition of the cows did not improve, according to him.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Lamichhane mentioned that on Sunday evening, five cows died, and on Monday evening, two more breathed their last. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Symptoms such as drooling, protruding tongue, and bloating were seen in the cows before they died.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Another cow in the same has also fallen ill since Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">“I have been in keeping cow for the last 16 years, and has never seen such a problem before,”Lamichhane lamented. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The death of cows has incurred Lamichanne a loss of around Rs 1 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Veterinary doctors and livestock experts attributed the death of cows to poisonous grass. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Sushil KC the chief of the veterinary center, said, "It appears that the grass was poisoned. Besides that, we have not identified any other issues." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The post- mortem shows no other problems. The cows that consumed the poisoned grass died, while those that did not eat it survived, according to KC. </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18661', 'image' => '20230907060023_collage (4).jpg', 'article_date' => '2023-09-07 05:58:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18931', 'article_category_id' => '1', 'title' => 'NEPSE Grants Final Membership Licenses to 11 More Broker Companies', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) has approved final membership licenses for 11 new broker companies. This decision was made during the NEPSE Board of Directors meeting held on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">September 6: The Nepal Stock Exchange (NEPSE) has approved final membership licenses for 11 new broker companies. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> This decision was made during the NEPSE Board of Directors meeting held on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The companies that have received licenses include Garima Securities Limited, Pahi Investment Pvt. Ltd, Indira Securities Pvt. Ltd, NMB Securities Ltd and Akash Bhairav Securities Ltd.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Similarly, Sanima Securities Ltd, Milky Way Share Broker Company Ltd, Stochastic Securities Ltd, S.P.S.A Securities Ltd, and Bluechip Securities Ltd also received the final membership licenses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The licenses were granted after the NEPSE officials assessed that these companies met the necessary infrastructural requirements. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With this, the total number of companies receiving the final licenses from the Securities Board of Nepal (SEBON) has reached 37. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Initially, out of the 46 applicant companies, 43 had received preliminary licenses or letters of intent (LOI) from SEBON in three different phases.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18660', 'image' => '20230906021205_collage (3).jpg', 'article_date' => '2023-09-06 14:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18945', 'article_category_id' => '1', 'title' => 'Government to Monitor Transactions of Multinational Companies in Nepal', 'sub_title' => '', 'summary' => 'September 8: The Government of Nepal is preparing to monitor the transactions of multinational companies doing business in Nepal. ', '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"">Bijay Damase</span></span></span></span></p> <p><span style="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 8: The Government of Nepal is preparing to monitor the transactions of multinational companies doing business in Nepal. The government is trying to implement 'transfer pricing' guidelines to monitor the actual transactions and income of those 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"">According to the Inland Revenue Department, this will clearly reveal whether the multinational companies operating in Nepal have paid the taxes based on actual volume of transactions or not.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department said that a policy to prevent tax evasion will be taken based on the record of their business and transactions in the 'transfer pricing' system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bimal Sapkota, director of the policy analysis branch of the Inland Revenue Department, said that this type of surveillance is being carried out to control tax evasion that may be caused by base erosion and profit shifting as well as profit fragmentation through 'transfer pricing'.</span></span></span></span></p> <p><span style="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 trend of multinational companies establishing branches in Nepal is increasing recently. Officials claim that they are paying unnaturally higher rates than the prevailing rates in the market by taking services such as consulting, management and purchasing goods from the parent company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'Transfer price' is the price paid when the business or subsidiary or affiliated companies under the same owner or common control buy and sell goods or services to each other. In such a transaction, the company can reduce its tax liability by showing that the profit of one of its own units, subsidiaries or affiliated companies has gone into losses in a planned way or transfer the profits of one company to another unit or subsidiary company. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Transfer pricing" also helps to shift the profit earned by the company in a country with a high tax rate to a country with a low tax rate. In this, the company sells its services or goods to any unit, branch or subsidiary/affiliate within the company for money. It is like buying goods or services from the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transfer pricing is considered a legal technique by which companies transfer profits to reduce the tax liability of the parent company. This practice reduces the tax expenses of companies. The state does not get the revenue it should get. Due to the increasing tendency of companies to hide a large part of their taxable income in this way in recent years, most of the countries in the world have started to control tax evasion through 'transfer pricing'.</span></span></span></span></p> <p><span style="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 department, the draft of 'Transfer Pricing Guidelines' has been prepared. Director Sapkota informed that it is ready to be implemented. "The final guideline will come and be implemented in one or two months," he said, "The only reason for developing the transfer pricing system is to hold the multinational companies accountable for the actual transactions in Nepal."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department believes that when the tax administration starts looking at 'transfer pricing', such companies will keep proper details and records. In the budget of the current fiscal year, it is mentioned that the 'transfer pricing' policy will be implemented from this year. According to tax officials, Google, Facebook and others are doing business outside Nepal. They do not come under the 'transfer pricing' monitoring. They have been brought under the ambit of taxation since last year by imposing electronic service tax and value added tax. The tax administration of Nepal cannot impose tax on their separate profit and loss account.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have been levied </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""> percent service tax and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent value added tax since last year. Now </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10/12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> such companies have come under the scope of tax. Nine international companies dealing in electronic services in Nepal have already paid taxes of about Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Those international companies registered with the Inland Revenue Department have paid the amount under the title of value addition only in the last fiscal year (FY) </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"">22</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"">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"">The process of registering such companies for tax is increasing.</span></span></span></span></p> <p><span style="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 nineties, the practice of 'transfer pricing' was widespread. Many American multinational companies, including Amazon, Apple, Google, and Starbucks, moved their profits to "tax haven" countries by adopting the method of "transfer pricing". Many countries, including the United States and Britain, started strongly opposing it. Most of these companies were fined billions of dollars after it was confirmed that they had shifted their profits with the help of 'transfer pricing'.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => 'transfer, pricing, multinational, companies, Nepal, government, monitor, profit, transaction, actual, Google, Amazon, evasion, tax', 'description' => '', 'sortorder' => '18674', 'image' => '20230908030244_Finshots--12455-03.jpg', 'article_date' => '2023-09-08 15:01:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18944', 'article_category_id' => '1', 'title' => '55 Percent of Families Engaged in Farming cannot Feed themselves Throughout the Year', 'sub_title' => '', 'summary' => 'September 8: The Seventh National Agricultural Census 2078 released by the National Statistics Office (NSO) in Thursday shows that only 45 percent of households involved in farming in Nepal, a predominantly agricultural country, are able to cultivate food crops enough to feed themselves throughout the year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 8: The Seventh National Agricultural Census 2078 released by the National Statistics Office (NSO) in Thursday shows that only 45 percent of households involved in farming in Nepal, a predominantly agricultural country, are able to cultivate food crops enough to feed themselves throughout the 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"">According to the agricultural census data, out of the total 66,67,000 households in Nepal, 41,30,789 families depend on agriculture for their livelihood. It means that 62 percent of the households in Nepal are engaged in agriculture.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among them, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families are able to feed themselves all year round with the income from their own agricultural 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"">In other words, roughly around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</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"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000 families involved in agriculture can feed themselves throughout the year while the number of farming families who cannot feed themselves all year round with their own produce stands at around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000, which is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</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 last decade, the number of families involved in farming that could produce enough for a year has increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points. In the previous count, the number of farming families who could feed themselves round the year their own produce was </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. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director of Agriculture and Livestock Counting Branch of the NSO, Badri Kumar Karki, said that the easy availability of chemical fertilizers, the use of advanced seeds and the availability of pesticides for crop diseases are the main reasons for the increase in the number of farmers who have adequate access to food. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, he says that this increase cannot be considered satisfactory as the number of people shifting from agricultural profession to other professions is increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families involved in farming say that they do not have enough food for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families say that they do not have enough food for three months. As per the previous agricultural census, the percentage of families not having enough food for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">44</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">and those who did not have enough food for even </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</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 order to make up for the shortfall, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families involved in farming make a living by doing labor work within the country. Eighteen percent said that they opted for foreign employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households said that they are engaged in non-agricultural works while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent said they took loans meet the daily expenses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Uddhav Adhikari, coordinator of the Agricultural Campaign for Food, said that the agriculture sector has been affected by damage caused by wild animals and climate change among others.</span></span></span></span></p> <p><span style="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 area of cultivated land decreased</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last decade, the area of agricultural land in Nepal has decreased. According to the seventh agricultural census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million hectares of arable land. Compared to the agricultural census of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2068</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the cultivable land has declined by 308,000. Back then, farmers used to cultivate on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million hectares of land.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the area of cultivated land has decreased, the number of families engaged in agricultural work has increased, the data shows. According to the new data, the number of farming families has increased by around </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"">00,000. Currently, around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">41</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">families are involved in agriculture across the country. In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2068</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, this number was roughly around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director Karki says that this number has increased not because of people leaving other professions and embracing agriculture, but because of the breakup of families engaged in agricultural work.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18673', 'image' => '20230908124019_agri maize.jpg', 'article_date' => '2023-09-08 12:39:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18943', 'article_category_id' => '1', 'title' => '51 Local Bodies yet to Unveil Budget', 'sub_title' => '', 'summary' => 'September 8: Altogether 51 local units across the country have not yet been able to come up with their budget for the current fiscal year (FY) 2023/24.', '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 8: Altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">51</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> local units across the country have not yet been able to come up with their budget for the current fiscal year (FY) </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</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"">According to the Inter-Governmental Fiscal Arrangement Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the local bodies across the country must unveil the budget for the next fiscal year by June 25</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"">The Ministry of Federal Affairs and General Administration has informed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">51</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> local levels out of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">753</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> across the country have not yet announced the budget.</span></span></span></span></p> <p><span style="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 local government cannot spend budget from the accumulated funds without endorsing the budget. Auditor General will raise questions if spending is done without passing budget. The National Natural Resources and Fiscal Commission also cuts the subsidy of the local level that does not bring the budget on 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 the ministry, there are four municipalities in Koshi province, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Madhesh Province, </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""> in Bagmati Province, </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""> in Gandaki Province, </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""> in Lumbini Province, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Karnali Province and </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""> in Far West Province that have not yet unveiled their budgets. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the local levels that have failed to unveil the budget for the current fiscal year within the constitutional deadline fall in Madhes Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no consensus in forming the budget especially when the mayor of a particular local body belongs to one political party and the other parties have majority in the executive body.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Purushottam Ghimire, chief administrative officer of Kanchanrup Municipality of Saptari, said that the budget has not been announced due to lack of consensus. </span></span></span></span></p> <p><span style="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 people’s representatives have not been able to reach an understanding to announce the budget. Efforts are being made to reach an agreement," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rajviraj and Hanumannagar Kankalini municipalities of Saptari and Chinnamasta, Mahadeva, Rupni and Balan-Bihul Rural Municipality are also unable to bring the budget due to internal disputes among the people’s representatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sirah has a similar problem. Kalyanpur Municipality of Siraha and Aurhi, Navrajpur and Bhagwanpur Rural Municipality have not announced their budget. Kamala Municipality of Dhanusha, Dhanauji Rural Municipality and Sonama Rural Municipality of Mahottari have not announced their budget as well. Sarlahi's Balra, Hariwan and Haripurwa municipalities and Chandranagar Rural Municipality have not announced their budget either. It has raised questions about the responsibility and good governance of the local level.</span></span></span></span></p> <p><span style="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 local governments cannot spend money from the accumulated fund until the budget is passed by the Municipal Council. It is illegal for the local level to spend the budget without passing the budget. Joint secretary of the federal affairs ministry, Kamal Prasad Bhattarai, says that the local level is not serious about this arrangement. </span></span></span></span></p> <p><span style="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, if the budget is not brought on time, the local government will not be able to spend the budget. As the local governments are autonomous, the federal government cannot legally punish those who do not announce the budget on time. In this case, the program implemented by the local government is affected. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18672', 'image' => '20230908115059_1683767264.jpg', 'article_date' => '2023-09-08 11:50:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18942', 'article_category_id' => '1', 'title' => 'SC Issues Mandamus Order to Form New Government in Koshi Province within 48 Hours ', 'sub_title' => '', 'summary' => 'September 8: The Supreme Court (SC) on Thursday issued a mandamus order to form a new Council of Ministers in Koshi Province within 48 hours. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: The Supreme Court (SC) on Thursday issued a mandamus order to form a new Council of Ministers in Koshi Province within 48 hours. The apex court issued such an order after concluding that the vote of confidence taken by Chief Minister Uddhab Thapa was unconstitutional. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of justices Sapana Pradhan Malla, Dr Kumar Chudal and Nahakul Subedi issued the mandamus order in the name of Koshi Province chief to form a new government as per the Article 168 (3) of the Constitution of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC said that the parliamentary party leader of a single largest party is deemed necessary to be appointed as the chief minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC has stated that opting for the alternatives given by the constitution is appropriate in terms of healthy constitutional exercise instead of applying a single option repeatedly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The parliamentary party leader of the CPN (UML) Koshi Province Hikmat Kumar Karki had lodged a petition at the SC stating that the process to obtain vote of confidence by Chief Minister Thapa was unconstitutional. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa had taken the vote of confidence from the province assembly on August 23. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => 'supreme, court, new, government, council, ministers, Koshi, province, unconstitutional, mandamus, order', 'description' => '', 'sortorder' => '18671', 'image' => '20230908110339_Supreme Court.jpg', 'article_date' => '2023-09-08 11:02:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18941', 'article_category_id' => '1', 'title' => 'Ainapahara Waterfall Gaining Popularity Among Domestic Tourists in Tanahun', 'sub_title' => '', 'summary' => 'Ainapahara waterfall, seated in the Abukhaireni rural municipality-2 of Tanahu district, has emerged as a favourite destination for domestic tourists.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 8 : Ainapahara waterfall, seated in the Abukhaireni rural municipality-2 of Tanahu district, has emerged as a favourite destination for domestic tourists.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Previously, the site lacked proper management, but significant improvements have transformed its overall appeal. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Local representatives are now dedicatedly working towards establishing Ainapahara as a prominent tourism hotspot.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The primary objective is to elevate Ainapahara waterfall into a recreational haven for tourists. To achieve this, artisans are meticulously crafting artistic statues and structures from the natural rocks and stones found in the vicinity of Ainapahara.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Abukhaireni rural municipality has initiated the creation of sculptures, such as those depicting a mother and son, to enhance the tourism potential of the area.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These efforts have led to a notable increase in the number of tourists visiting Ainapahara, with local resident Bijay Gurung expressing optimism about its prospects as a tourism destination, particularly due to its proximity to the Prithvi Highway.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shukra Chuman, the Chairperson of Abukhaireni rural municipality, highlighted the role of social media in boosting Ainapahara's popularity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The sharing of photos and videos of the site on social platforms has contributed to its growing appeal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the previous fiscal year, an allocation of Rs 14 million was earmarked for the construction of Ainapahara Park. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Chuman outlined a vision to develop Ainapahara as one of the premier tourism sites not just in Tanahu but also within the Gandaki Province.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> To make Ainapahara even more captivating, plans are underway to introduce sky-cycling and a glass walk bridge at the location. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a comprehensive master plan has been devised to ensure the systematic development of Ainapahara waterfall. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18670', 'image' => '20230908060317_collage (5).jpg', 'article_date' => '2023-09-08 06:00:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18940', 'article_category_id' => '1', 'title' => 'CAAN Unveils Budget of Over Rs 36 Billion ', 'sub_title' => '', 'summary' => 'September 7: The Civil Aviation Authority of Nepal (CAAN) has endorsed a budget of Rs 36.66 billion for the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The Civil Aviation Authority of Nepal (CAAN) has endorsed a budget of Rs 36.66 billion for the fiscal year 2023/24. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of CAAN’s Board of Directors approved the budget of Rs 36.66 billion for the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN spokesperson Jagannath Niraula said the budget for the current fiscal year has been allocated by determining priority sectors including aviation and air safety, infrastructure development, airport operation etc. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Niraula, the budget has prioritized collaboration with international organisations, increasing the services and facilities for passengers, income generation and fiscal discipline and human resources development, among others. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN has set the target of generating income of Rs 15.88 billion in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, looking at the records of CAAN, the aviation regulatory body has failed to meet its income target in the last four years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CAAN admitted that it has not been able to generate income as per the target since the fiscal year 2019/20 due to the coronavirus pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CAAN earns income from fees collected from landing, parking, ground handling of aircraft as well as the rent of the airport and physical infrastructures of the CAAN. (With inputs from RSS)</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18669', 'image' => '20230907060137_20230901035752_1693541792.jpg', 'article_date' => '2023-09-07 18:01:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18939', 'article_category_id' => '1', 'title' => '‘Industrialists at the Receiving End due to NRB’s Policy’', 'sub_title' => '', 'summary' => 'September 7: Biratnagar chapter of the Federation of Nepalese Chamber of Commerce and Industry President Rajendra Raut shared that the industrial sector has suffered due to exorbitant interest rates of banks and other problems caused by the policy adopted by the Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Biratnagar chapter of the Federation of Nepalese Chamber of Commerce and Industry President Rajendra Raut shared that the industrial sector has suffered due to exorbitant interest rates of banks and other problems caused by the policy adopted by the Nepal Rastra Bank (NRB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a round table program organized by the International Finance Corporation (IFC) in Biratnagar on Tuesday, Raut said that the private sector, which had made some progress after tackling the issues like political instability, heavy load shedding, and India's blockade, got more affected by the Covid-19 pandemic and the Ukraine crisis. He said that the economy is headed towards further crisis due to additional problems including high interest rates of banks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FNCCI Koshi Province said that attention should be paid to aspects like development of competitiveness, marketing, revenue policy and administration of the government, investment environment, easy supply of energy, anti-export trade economy, preferential trade and open border with India. In the program, IFC's Nepal office head Babacar S. Faye said that the delegation is ready to cooperate with the private sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the economic census published by the government in 2075, there are 168,518 industries operating in Koshi Province, of which 66,783 industries are operating in Morang and Sunsari alone. In the last 10 years, more than 250 new productive industries have been registered with the Department of Industries in Morang and Sunsari districts of Koshi Province.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FNCCI Koshi Province has been saying that industries that can increase the availability of raw materials based on agriculture, forestry, mining and animal husbandry and industries focused on the processing of those products should be promoted. Officials of the Federation as well as representatives from Morang-Sunsari Industrial Zone, President of Morang Industry Association Rakesh Surana and representatives of business organizations and institutions participated in the program.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18668', 'image' => '20230907031127_1694054563.jane.jpeg', 'article_date' => '2023-09-07 15:10:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18938', 'article_category_id' => '1', 'title' => 'OTC Market Transactions Gaining Popularity', 'sub_title' => '', 'summary' => 'September 7: Over the counter (OTC) market is on a rise in recent years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Over the counter (OTC) market is on a rise in recent years. In particular, the shares of companies whose listings have been canceled from the secondary market and which have not entered the listing process are traded in the OTC market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NEPSE informed that billions of rupees worth of securities are traded annually in the OTC market based on the agreed price of the buyer and the seller without the help of the securities brokers. NEPSE has been operating the OTC market as well in its own office through a separate counter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Looking at the data of the last five fiscal years provided by NEPSE, it appears that the highest numbers of securities transactions were made in the fiscal year (FY) 2077/78 with trading of approximately 12.6 million shares worth around Rs 2.93 billion. Before that, in the year 2075/76, around 16 million shares worth Rs 2.16 billion were traded.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Looking at the data of five years, in the years 2076/77 and 2078/79, the securities traded in the OTC market were worth less than Rs 2 billion. NEPSE informed that approximately 7.2 million shares worth around Rs 1.89 billion were traded in the year 2076/77 and around 11.7 million shares worth around Rs 1.53 billion in the year 2078/79.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the last fiscal year (FY 2079/80), around 2.1 million shares worth Rs 2.85 billion were traded. In terms of share, it seems that the last year saw the highest turnover in five years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Apart from the premium rates, there is an arrangement to buy shares of initial public offering (IPO) at a face value of Rs 100 per share in the primary market of securities. In the OTC market, there is no certainty in the price as the transaction is based on the agreed price of the buyer and the seller.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">There is also a situation where companies whose shares are traded at a higher price in the OTC market have issued IPO at a lower price. Hathaway Investment Nepal sold shares to the general public at a face value of Rs 50 per share. The company, which was trading at Rs 86 per share in the OTC market, sold the IPO at less than that price. Looking at the OTC market trading on June 6, a total of 357,295 shares of Hathaway Investments were traded at Rs 86 per share.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18667', 'image' => '20230907030323_1471338751226067.jpg', 'article_date' => '2023-09-07 15:02:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18937', 'article_category_id' => '1', 'title' => 'Central Bank to Test Digital Currency within Current Fiscal Year', 'sub_title' => '', 'summary' => 'September 7: Nepal Rastra Bank is going to test its digital currency within the current fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 7: Nepal Rastra Bank is going to test its digital currency within the current fiscal year. The central bank is going to develop the necessary infrastructure for issuing electronic currency and test it within a certain group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Our goal is to test the Central Bank Digital Currency (CBDC) within the current fiscal year by formulating the necessary laws, policies and developing the necessary technical infrastructure," Nepal Rastra Bank's Deputy Spokesperson Dr Dilliram Pokharel said, adding, “We have taken help from the International Finance Corporation (IFC) to this end.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank signed an agreement with the IFC last Monday for the setting up a new innovation and testing center known as the Regulatory Sandbox. It is said that new issues will be tested by creating a closed group of certain users through the 'Regulatory Sandbox'. CBDC will be put into public use only after successful testing within the closed group, said Deputy Spokesperson Pokharel.</span></span></span></span></p> <p><span style="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 interest shown by the general public in digital currency transactions and other countries also started issuing such currency, the central bank started the necessary homework to issue CBDC two years ago. Nepal Rastra Bank has formed a 'Steering Committee' under the coordination of Deputy Governor Bam Bahadur Mishra to advance the work of CBDC. A working group formed by the committee under the coordination of director Anuj Dahal for studying CBDC submitted a feasibility report in the previous 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"">Based on the study, the central bank while issuing the monetary policy said that further work will be carried forward regarding the issuance of CBDC. Accordingly, a separate unit has also been created in the Central Bank's Payment System Department.</span></span></span></span></p> <p><span style="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 feasibility study report conducted by the central bank has mentioned that it is appropriate to proceed with the CBDC project only by building a separate structure and team with the participation of all stakeholders. </span></span></span></span></p> <p><span style="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 initial stage, it has been suggested that a small unit can be set up within the Payment System Department or the Information Technology Department of the central bank and the work can be carried forward. </span></span></span></span></p> <p><span style="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 report has suggested to ensure high-level technology with security of data, capacity development of the central bank, detailed feasibility study, adequate legal system, target setting and public awareness before issuing CBDC. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the economy is gradually transforming from cash to digital, the report states that although electronic currency is necessary, political ownership and public acceptance are equally important for its success.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Central banks around the world have started issuing digital currencies with the increase in public interest in electronic currencies including 'cryptocurrencies' issued by the private sector. Since electronic money issued by the private sector does not have a legal basis or a responsible body, investing in it is considered risky. The electronic currency issued by the central bank is considered safe because it takes responsibility for it.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'digital, currency, Nepal, Rastra, Bank, electronic, IFC', 'description' => '', 'sortorder' => '18666', 'image' => '20230907012510_20230619074931_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-07 13:24:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18935', 'article_category_id' => '1', 'title' => 'NEA Launched 51 Rapid Charging Stations across the Country', 'sub_title' => '', 'summary' => 'September 7: The Nepal Electricity Authority (NEA) has built 51 fast-charging stations for electric vehicles with an investment of Rs 400 million.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 7: The Nepal Electricity Authority (NEA) has built 51 fast-charging stations for electric vehicles with an investment of Rs 400 million.</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"">The NEA on Wednesday inaugurated the 51 state-of-the-art fast charging stations built in main highways, bus parks and big cities of all seven provinces across the country.</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"">The charging stations were built with the investment of the NEA and concessional loans from the Asian Development Bank and the technical support from the Norwegian government under the EV Charging Infrastructure Development Project.</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"">According to the NEA, among the charging stations built at a cost of Rs 400 million, big buses, micro buses, trucks, pickups vans and cars can be charged in 26 stations while small and large cars can be charged in 25 of the newly built facilities.</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"">Minister for Energy, Water Resources and Irrigation Minister Shakti Bahadur Basnet and Secretary Dinesh Kumar Ghimire jointly inaugurated the fast charging stations constructed at the Nepal Police Club at Exhibition Road, Kathmandu.</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"">On the occasion, Minister Basnet described the operation of the 51 charging stations as an important step towards sustainable development of the country through reduction in carbon emissions and the adverse impact of climate change by means of consumption of clean energy. </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"">He mentioned that the government is working for policy and legal arrangements for the promotion of electric vehicles. He also said that efforts are being made to attract investors to produce electric vehicles in Nepal.</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"">NEA executive director Kulman Ghising said the charging stations have been set up for promoting EVs. Stating that EVs are 15 to 20 times cheaper than petrol-operated vehicles, he said the use of EVs will make positive contribution to the foreign currency reserves of the country. He shared that the NEA is going to install 500 more charging stations across the country. </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"">Chief of ADB South Asia Energy Division, Sujata Gupta said transport is an important sector for reducing carbon emissions and stressed on construction of infrastructures that promote the use of electric vehicles. </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"">After charging the vehicles, the customers can pay the bill through QR code and mobile app. </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'charging, stations, NEA, EV, electric, vehicles, clean, energy, ADB, Asian, Development Bank, Nepal, Electricity, Authority, cheap, efficient, fast, rapid, country', 'description' => '', 'sortorder' => '18665', 'image' => '20230907114127_20181206052724_Auto.jpg', 'article_date' => '2023-09-07 11:39:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18934', 'article_category_id' => '1', 'title' => 'Ncell Collaborates with Government to Facilitate Hello Sarkar', 'sub_title' => '', 'summary' => 'September 7: Ncell Axiata Limited has announced collaboration with the government to facilitate the operation of Hello Sarkar’s toll-free number 1111 round the clock.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Ncell Axiata Limited has announced collaboration with the government to facilitate the operation of Hello Sarkar’s toll-free number 1111 round the clock.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Issuing a recent statement, Ncell said its customers can now call the number for free to lodge their complaints.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prime Minister Pushpa Kamal Dahal had inaugurated the expanded operation of the Hello Sarkar services on Sunday. During the programme, the government had announced formally that the service has now been made accessible from the Ncell network too. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Inaugurating the services, Prime Minister Dahal said that it is a matter of happiness that Hello Sarkar will be operating 24/7 in three shifts to further strengthen the relationship between the government and the people. Talking about the Hello Sarkar and Ncell collaboration, he said, “I would like to thank Ncell for being connected with the Hello Sarkar.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hello Sarkar is a public grievances redressal mechanism that the government has been operating for the past 12 years to listen to the complaints and suggestions of the common citizens.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Expressing his excitement about this collaboration, Jabbor Kayumov, Chief Executive Officer and Managing Director of Ncell said, "Hello Sarkar is an exemplary mechanism of the Government of Nepal to listen to public concerns. We are delighted to collaborate with the government to contribute towards making the public service delivery even more effective as envisioned by the government.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Ncell users have been able to access Hello Sarkar’s toll-free number from the third week of August 2023. The announcement about the facility was made formally by the Office of the Prime Minister and Council of Ministers (OPMCM) on Sunday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the occasion, Chief Secretary Dr Baikuntha Aryal said that the government has also formed a Rapid Response Team to make the service of the Hello Sarkar more effective. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">As per the OPMCM, apart from phone calls, citizens can also lodge their grievances and suggestions through digital channels such as Email, Facebook, Twitter, Hello Sarkar Portal, Viber, WhatsApp, among others.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'Hello, sarkar, government, Nepal, Ncell, collaboration, complaints, effective, grievances', 'description' => '', 'sortorder' => '18664', 'image' => '20230907111811_ncell.jpg', 'article_date' => '2023-09-07 11:14:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18936', 'article_category_id' => '1', 'title' => 'Yamaha Announced Ride to MotoGP Trip', 'sub_title' => '', 'summary' => 'September 7: Yamaha Nepal has announced to take 10 Yamaha owners on an eight-day trip from Katmandu to Noida-based Buddh International Circuit under its ‘Ride to MotoGP’ scheme to watch the event in India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Yamaha Nepal has announced to take 10 Yamaha owners on an eight-day trip from Katmandu to Noida-based Buddh International Circuit under its ‘Ride to MotoGP’ scheme to watch the event in India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Wednesday, Yamaha Nepal said that the journey will take off from the Blue Square, Naxal on September 20 all the way to the Moto GP racing circuit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company stated that the selected Yamaha owners will get “true racing experience” at the MotoGP India from practice session, qualifiers to race. The MotoGP India is happening on September 22 to 24, 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Yamaha R15 has carried and infused the racing essence to the Nepalese community and has an excellent cult following. The ‘Ride to MotoGP’ is structured to acknowledge Yamaha owners’ passion over Yamaha sports motorcycles and MotoGP,” reads the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To be eligible for the trip, Yamaha Nepal said it has created a dedicated micro site where the owners can enter their initial details for the first round of registration. The registration for the first-round ends on Sept 9. Post registration Yamaha officials will inform the aspirants for further selection rounds. Yamaha said it will take 10 riders to India under certain terms and conditions. However, the company did not reveal the terms and conditions in the press statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We’ve seen many motorcycle and MotoGP fans getting Valentino Rossi VR46 stickers in their two wheelers. We are absolutely delighted to announce, ‘Ride to MotoGP’ offering an opportunity to owners who are passionate MotoGP fans, who want to witness the live race. We at Yamaha want to appeal to all the Yamaha owners to apply for the contest and experience this once in a lifetime opportunity,” the statement quoted Raju Chettri, CEO of MAW Two Wheelers Division, the authorized distributors of Yamaha brand in Nepal, as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement further says that Yamaha has a very prestigious racing legacy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Motorsports have been an essential part of Yamaha Motor’s corporate culture since its inception, and the first time a Yamaha motorcycle competed in earnest happened 10 days after the company was established, at the third Mount Fuji Ascent Race on July 10, 1955.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, the motive of Ride to MotoGP is to bring MotoGP experience closer to Nepal and add another milestone to aspire many motorsports enthusiasts towards racing. Yamaha Nepal claimed that it has been promoting racing events in Nepal.</span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'MotoGP, ride, Yamaha, Noida, Nepal, India', 'description' => '', 'sortorder' => '18663', 'image' => '20230907115911_ride.jpg', 'article_date' => '2023-09-07 11:58:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18933', 'article_category_id' => '1', 'title' => 'NTC Expands Internet Service to Four Districts of Eastern Nepal ', 'sub_title' => '', 'summary' => 'September 6: Nepal Telecom Corporation (NTC) has expanded internet service in four districts in eastern Nepal including Dhankuta, Tehrathum, Sankhuwasabha and Bhojpur by laying optical fibre.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: Nepal Telecom Corporation (NTC) has expanded internet service in four districts in eastern Nepal including Dhankuta, Tehrathum, Sankhuwasabha and Bhojpur by laying optical fibre. With the installation of the fibre, customers can now avail fast internet and 4G service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTC customers can have internet package ranging from up to 82,580 Mbps, said senior engineer Suman Acharya, chief of the NTC Dhankuta branch office. Internet has been expanded to Hile bazaar, Mulghat, Sindhuwa bazaar and Bhedetar bazaar in Dhankuta district, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the expansion of internet service in Pakhribas Municipality and Chaubise Rural Municipality in the district will be complete within the current fiscal year, added Acharya. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet service has also been expanded in Khandabari, Tumlingtar, Muheshanishare of Dharma Devi Municipality in Sankhuwasabha, while the works of installing optical fibre in Chainpur Municipality will begin this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet speed of 100 Gbps has been set up in Itahari of Sunsari district, Hile of Dhankuta, Myanglung of Tehrathum, Phidim of Panchthar and Birtamod of Jhapa. In Dhankuta, 8,000 households have been using internet, 1,500 in Bhojpur, 2,000 in Sankhuwasabha and 1,500 in Tehrathum. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'Internet, Nepal, eastern, telecom, NTC, optical, fibre, high, speed, mbps, gbps', 'description' => '', 'sortorder' => '18662', 'image' => '20230907105804_internet.jpg', 'article_date' => '2023-09-07 10:56:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18932', 'article_category_id' => '1', 'title' => 'Toxic Grass Kills Seven Cows in Chitwan', 'sub_title' => '', 'summary' => 'Due to the consumption of poisonous grass, seven cows in a single farm have died in Bharatpur, Chitwan. Out of 11 cows, seven of them have died at Shubh Narayani Cow Farm, in Bharatpur-11 due to the consumption of poisonous grass.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">September 7: Due to the consumption of poisonous grass, seven cows in a single farm have died in Bharatpur, Chitwan. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Out of 11 cows, seven of them have died at Shubh Narayani Cow Farm, in Bharatpur-11 due to the consumption of poisonous grass.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The farm's operator, Shiv Lamichhane, said that they noticed that the cows had become sick after eating grass since last Sunday after they had the grass. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Initially, the sick cows were provided home treatment as they stopped drinking water. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Despite providing home remedies, the cows did not recover, so they had informed veterinary doctors. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Even after receiving professional treatment, condition of the cows did not improve, according to him.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Lamichhane mentioned that on Sunday evening, five cows died, and on Monday evening, two more breathed their last. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Symptoms such as drooling, protruding tongue, and bloating were seen in the cows before they died.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Another cow in the same has also fallen ill since Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">“I have been in keeping cow for the last 16 years, and has never seen such a problem before,”Lamichhane lamented. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The death of cows has incurred Lamichanne a loss of around Rs 1 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Veterinary doctors and livestock experts attributed the death of cows to poisonous grass. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Sushil KC the chief of the veterinary center, said, "It appears that the grass was poisoned. Besides that, we have not identified any other issues." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The post- mortem shows no other problems. The cows that consumed the poisoned grass died, while those that did not eat it survived, according to KC. </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18661', 'image' => '20230907060023_collage (4).jpg', 'article_date' => '2023-09-07 05:58:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18931', 'article_category_id' => '1', 'title' => 'NEPSE Grants Final Membership Licenses to 11 More Broker Companies', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) has approved final membership licenses for 11 new broker companies. This decision was made during the NEPSE Board of Directors meeting held on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">September 6: The Nepal Stock Exchange (NEPSE) has approved final membership licenses for 11 new broker companies. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> This decision was made during the NEPSE Board of Directors meeting held on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The companies that have received licenses include Garima Securities Limited, Pahi Investment Pvt. Ltd, Indira Securities Pvt. Ltd, NMB Securities Ltd and Akash Bhairav Securities Ltd.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Similarly, Sanima Securities Ltd, Milky Way Share Broker Company Ltd, Stochastic Securities Ltd, S.P.S.A Securities Ltd, and Bluechip Securities Ltd also received the final membership licenses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The licenses were granted after the NEPSE officials assessed that these companies met the necessary infrastructural requirements. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With this, the total number of companies receiving the final licenses from the Securities Board of Nepal (SEBON) has reached 37. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Initially, out of the 46 applicant companies, 43 had received preliminary licenses or letters of intent (LOI) from SEBON in three different phases.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18660', 'image' => '20230906021205_collage (3).jpg', 'article_date' => '2023-09-06 14:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18945', 'article_category_id' => '1', 'title' => 'Government to Monitor Transactions of Multinational Companies in Nepal', 'sub_title' => '', 'summary' => 'September 8: The Government of Nepal is preparing to monitor the transactions of multinational companies doing business in Nepal. ', '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"">Bijay Damase</span></span></span></span></p> <p><span style="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 8: The Government of Nepal is preparing to monitor the transactions of multinational companies doing business in Nepal. The government is trying to implement 'transfer pricing' guidelines to monitor the actual transactions and income of those 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"">According to the Inland Revenue Department, this will clearly reveal whether the multinational companies operating in Nepal have paid the taxes based on actual volume of transactions or not.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department said that a policy to prevent tax evasion will be taken based on the record of their business and transactions in the 'transfer pricing' system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bimal Sapkota, director of the policy analysis branch of the Inland Revenue Department, said that this type of surveillance is being carried out to control tax evasion that may be caused by base erosion and profit shifting as well as profit fragmentation through 'transfer pricing'.</span></span></span></span></p> <p><span style="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 trend of multinational companies establishing branches in Nepal is increasing recently. Officials claim that they are paying unnaturally higher rates than the prevailing rates in the market by taking services such as consulting, management and purchasing goods from the parent company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'Transfer price' is the price paid when the business or subsidiary or affiliated companies under the same owner or common control buy and sell goods or services to each other. In such a transaction, the company can reduce its tax liability by showing that the profit of one of its own units, subsidiaries or affiliated companies has gone into losses in a planned way or transfer the profits of one company to another unit or subsidiary company. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Transfer pricing" also helps to shift the profit earned by the company in a country with a high tax rate to a country with a low tax rate. In this, the company sells its services or goods to any unit, branch or subsidiary/affiliate within the company for money. It is like buying goods or services from the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transfer pricing is considered a legal technique by which companies transfer profits to reduce the tax liability of the parent company. This practice reduces the tax expenses of companies. The state does not get the revenue it should get. Due to the increasing tendency of companies to hide a large part of their taxable income in this way in recent years, most of the countries in the world have started to control tax evasion through 'transfer pricing'.</span></span></span></span></p> <p><span style="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 department, the draft of 'Transfer Pricing Guidelines' has been prepared. Director Sapkota informed that it is ready to be implemented. "The final guideline will come and be implemented in one or two months," he said, "The only reason for developing the transfer pricing system is to hold the multinational companies accountable for the actual transactions in Nepal."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department believes that when the tax administration starts looking at 'transfer pricing', such companies will keep proper details and records. In the budget of the current fiscal year, it is mentioned that the 'transfer pricing' policy will be implemented from this year. According to tax officials, Google, Facebook and others are doing business outside Nepal. They do not come under the 'transfer pricing' monitoring. They have been brought under the ambit of taxation since last year by imposing electronic service tax and value added tax. The tax administration of Nepal cannot impose tax on their separate profit and loss account.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have been levied </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""> percent service tax and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent value added tax since last year. Now </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10/12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> such companies have come under the scope of tax. Nine international companies dealing in electronic services in Nepal have already paid taxes of about Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Those international companies registered with the Inland Revenue Department have paid the amount under the title of value addition only in the last fiscal year (FY) </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"">22</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"">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"">The process of registering such companies for tax is increasing.</span></span></span></span></p> <p><span style="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 nineties, the practice of 'transfer pricing' was widespread. Many American multinational companies, including Amazon, Apple, Google, and Starbucks, moved their profits to "tax haven" countries by adopting the method of "transfer pricing". Many countries, including the United States and Britain, started strongly opposing it. Most of these companies were fined billions of dollars after it was confirmed that they had shifted their profits with the help of 'transfer pricing'.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => 'transfer, pricing, multinational, companies, Nepal, government, monitor, profit, transaction, actual, Google, Amazon, evasion, tax', 'description' => '', 'sortorder' => '18674', 'image' => '20230908030244_Finshots--12455-03.jpg', 'article_date' => '2023-09-08 15:01:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18944', 'article_category_id' => '1', 'title' => '55 Percent of Families Engaged in Farming cannot Feed themselves Throughout the Year', 'sub_title' => '', 'summary' => 'September 8: The Seventh National Agricultural Census 2078 released by the National Statistics Office (NSO) in Thursday shows that only 45 percent of households involved in farming in Nepal, a predominantly agricultural country, are able to cultivate food crops enough to feed themselves throughout the year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 8: The Seventh National Agricultural Census 2078 released by the National Statistics Office (NSO) in Thursday shows that only 45 percent of households involved in farming in Nepal, a predominantly agricultural country, are able to cultivate food crops enough to feed themselves throughout the 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"">According to the agricultural census data, out of the total 66,67,000 households in Nepal, 41,30,789 families depend on agriculture for their livelihood. It means that 62 percent of the households in Nepal are engaged in agriculture.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among them, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families are able to feed themselves all year round with the income from their own agricultural 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"">In other words, roughly around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</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"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000 families involved in agriculture can feed themselves throughout the year while the number of farming families who cannot feed themselves all year round with their own produce stands at around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000, which is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</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 last decade, the number of families involved in farming that could produce enough for a year has increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points. In the previous count, the number of farming families who could feed themselves round the year their own produce was </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. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director of Agriculture and Livestock Counting Branch of the NSO, Badri Kumar Karki, said that the easy availability of chemical fertilizers, the use of advanced seeds and the availability of pesticides for crop diseases are the main reasons for the increase in the number of farmers who have adequate access to food. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, he says that this increase cannot be considered satisfactory as the number of people shifting from agricultural profession to other professions is increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families involved in farming say that they do not have enough food for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families say that they do not have enough food for three months. As per the previous agricultural census, the percentage of families not having enough food for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">44</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">and those who did not have enough food for even </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</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 order to make up for the shortfall, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families involved in farming make a living by doing labor work within the country. Eighteen percent said that they opted for foreign employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households said that they are engaged in non-agricultural works while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent said they took loans meet the daily expenses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Uddhav Adhikari, coordinator of the Agricultural Campaign for Food, said that the agriculture sector has been affected by damage caused by wild animals and climate change among others.</span></span></span></span></p> <p><span style="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 area of cultivated land decreased</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last decade, the area of agricultural land in Nepal has decreased. According to the seventh agricultural census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million hectares of arable land. Compared to the agricultural census of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2068</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the cultivable land has declined by 308,000. Back then, farmers used to cultivate on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million hectares of land.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the area of cultivated land has decreased, the number of families engaged in agricultural work has increased, the data shows. According to the new data, the number of farming families has increased by around </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"">00,000. Currently, around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">41</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">families are involved in agriculture across the country. In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2068</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, this number was roughly around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director Karki says that this number has increased not because of people leaving other professions and embracing agriculture, but because of the breakup of families engaged in agricultural work.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18673', 'image' => '20230908124019_agri maize.jpg', 'article_date' => '2023-09-08 12:39:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18943', 'article_category_id' => '1', 'title' => '51 Local Bodies yet to Unveil Budget', 'sub_title' => '', 'summary' => 'September 8: Altogether 51 local units across the country have not yet been able to come up with their budget for the current fiscal year (FY) 2023/24.', '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 8: Altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">51</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> local units across the country have not yet been able to come up with their budget for the current fiscal year (FY) </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</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"">According to the Inter-Governmental Fiscal Arrangement Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the local bodies across the country must unveil the budget for the next fiscal year by June 25</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"">The Ministry of Federal Affairs and General Administration has informed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">51</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> local levels out of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">753</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> across the country have not yet announced the budget.</span></span></span></span></p> <p><span style="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 local government cannot spend budget from the accumulated funds without endorsing the budget. Auditor General will raise questions if spending is done without passing budget. The National Natural Resources and Fiscal Commission also cuts the subsidy of the local level that does not bring the budget on 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 the ministry, there are four municipalities in Koshi province, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Madhesh Province, </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""> in Bagmati Province, </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""> in Gandaki Province, </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""> in Lumbini Province, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Karnali Province and </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""> in Far West Province that have not yet unveiled their budgets. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the local levels that have failed to unveil the budget for the current fiscal year within the constitutional deadline fall in Madhes Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no consensus in forming the budget especially when the mayor of a particular local body belongs to one political party and the other parties have majority in the executive body.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Purushottam Ghimire, chief administrative officer of Kanchanrup Municipality of Saptari, said that the budget has not been announced due to lack of consensus. </span></span></span></span></p> <p><span style="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 people’s representatives have not been able to reach an understanding to announce the budget. Efforts are being made to reach an agreement," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rajviraj and Hanumannagar Kankalini municipalities of Saptari and Chinnamasta, Mahadeva, Rupni and Balan-Bihul Rural Municipality are also unable to bring the budget due to internal disputes among the people’s representatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sirah has a similar problem. Kalyanpur Municipality of Siraha and Aurhi, Navrajpur and Bhagwanpur Rural Municipality have not announced their budget. Kamala Municipality of Dhanusha, Dhanauji Rural Municipality and Sonama Rural Municipality of Mahottari have not announced their budget as well. Sarlahi's Balra, Hariwan and Haripurwa municipalities and Chandranagar Rural Municipality have not announced their budget either. It has raised questions about the responsibility and good governance of the local level.</span></span></span></span></p> <p><span style="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 local governments cannot spend money from the accumulated fund until the budget is passed by the Municipal Council. It is illegal for the local level to spend the budget without passing the budget. Joint secretary of the federal affairs ministry, Kamal Prasad Bhattarai, says that the local level is not serious about this arrangement. </span></span></span></span></p> <p><span style="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, if the budget is not brought on time, the local government will not be able to spend the budget. As the local governments are autonomous, the federal government cannot legally punish those who do not announce the budget on time. In this case, the program implemented by the local government is affected. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18672', 'image' => '20230908115059_1683767264.jpg', 'article_date' => '2023-09-08 11:50:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18942', 'article_category_id' => '1', 'title' => 'SC Issues Mandamus Order to Form New Government in Koshi Province within 48 Hours ', 'sub_title' => '', 'summary' => 'September 8: The Supreme Court (SC) on Thursday issued a mandamus order to form a new Council of Ministers in Koshi Province within 48 hours. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: The Supreme Court (SC) on Thursday issued a mandamus order to form a new Council of Ministers in Koshi Province within 48 hours. The apex court issued such an order after concluding that the vote of confidence taken by Chief Minister Uddhab Thapa was unconstitutional. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of justices Sapana Pradhan Malla, Dr Kumar Chudal and Nahakul Subedi issued the mandamus order in the name of Koshi Province chief to form a new government as per the Article 168 (3) of the Constitution of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC said that the parliamentary party leader of a single largest party is deemed necessary to be appointed as the chief minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC has stated that opting for the alternatives given by the constitution is appropriate in terms of healthy constitutional exercise instead of applying a single option repeatedly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The parliamentary party leader of the CPN (UML) Koshi Province Hikmat Kumar Karki had lodged a petition at the SC stating that the process to obtain vote of confidence by Chief Minister Thapa was unconstitutional. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa had taken the vote of confidence from the province assembly on August 23. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => 'supreme, court, new, government, council, ministers, Koshi, province, unconstitutional, mandamus, order', 'description' => '', 'sortorder' => '18671', 'image' => '20230908110339_Supreme Court.jpg', 'article_date' => '2023-09-08 11:02:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18941', 'article_category_id' => '1', 'title' => 'Ainapahara Waterfall Gaining Popularity Among Domestic Tourists in Tanahun', 'sub_title' => '', 'summary' => 'Ainapahara waterfall, seated in the Abukhaireni rural municipality-2 of Tanahu district, has emerged as a favourite destination for domestic tourists.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 8 : Ainapahara waterfall, seated in the Abukhaireni rural municipality-2 of Tanahu district, has emerged as a favourite destination for domestic tourists.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Previously, the site lacked proper management, but significant improvements have transformed its overall appeal. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Local representatives are now dedicatedly working towards establishing Ainapahara as a prominent tourism hotspot.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The primary objective is to elevate Ainapahara waterfall into a recreational haven for tourists. To achieve this, artisans are meticulously crafting artistic statues and structures from the natural rocks and stones found in the vicinity of Ainapahara.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Abukhaireni rural municipality has initiated the creation of sculptures, such as those depicting a mother and son, to enhance the tourism potential of the area.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These efforts have led to a notable increase in the number of tourists visiting Ainapahara, with local resident Bijay Gurung expressing optimism about its prospects as a tourism destination, particularly due to its proximity to the Prithvi Highway.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shukra Chuman, the Chairperson of Abukhaireni rural municipality, highlighted the role of social media in boosting Ainapahara's popularity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The sharing of photos and videos of the site on social platforms has contributed to its growing appeal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the previous fiscal year, an allocation of Rs 14 million was earmarked for the construction of Ainapahara Park. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Chuman outlined a vision to develop Ainapahara as one of the premier tourism sites not just in Tanahu but also within the Gandaki Province.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> To make Ainapahara even more captivating, plans are underway to introduce sky-cycling and a glass walk bridge at the location. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a comprehensive master plan has been devised to ensure the systematic development of Ainapahara waterfall. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18670', 'image' => '20230908060317_collage (5).jpg', 'article_date' => '2023-09-08 06:00:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18940', 'article_category_id' => '1', 'title' => 'CAAN Unveils Budget of Over Rs 36 Billion ', 'sub_title' => '', 'summary' => 'September 7: The Civil Aviation Authority of Nepal (CAAN) has endorsed a budget of Rs 36.66 billion for the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The Civil Aviation Authority of Nepal (CAAN) has endorsed a budget of Rs 36.66 billion for the fiscal year 2023/24. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of CAAN’s Board of Directors approved the budget of Rs 36.66 billion for the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN spokesperson Jagannath Niraula said the budget for the current fiscal year has been allocated by determining priority sectors including aviation and air safety, infrastructure development, airport operation etc. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Niraula, the budget has prioritized collaboration with international organisations, increasing the services and facilities for passengers, income generation and fiscal discipline and human resources development, among others. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN has set the target of generating income of Rs 15.88 billion in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, looking at the records of CAAN, the aviation regulatory body has failed to meet its income target in the last four years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CAAN admitted that it has not been able to generate income as per the target since the fiscal year 2019/20 due to the coronavirus pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CAAN earns income from fees collected from landing, parking, ground handling of aircraft as well as the rent of the airport and physical infrastructures of the CAAN. (With inputs from RSS)</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18669', 'image' => '20230907060137_20230901035752_1693541792.jpg', 'article_date' => '2023-09-07 18:01:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18939', 'article_category_id' => '1', 'title' => '‘Industrialists at the Receiving End due to NRB’s Policy’', 'sub_title' => '', 'summary' => 'September 7: Biratnagar chapter of the Federation of Nepalese Chamber of Commerce and Industry President Rajendra Raut shared that the industrial sector has suffered due to exorbitant interest rates of banks and other problems caused by the policy adopted by the Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Biratnagar chapter of the Federation of Nepalese Chamber of Commerce and Industry President Rajendra Raut shared that the industrial sector has suffered due to exorbitant interest rates of banks and other problems caused by the policy adopted by the Nepal Rastra Bank (NRB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a round table program organized by the International Finance Corporation (IFC) in Biratnagar on Tuesday, Raut said that the private sector, which had made some progress after tackling the issues like political instability, heavy load shedding, and India's blockade, got more affected by the Covid-19 pandemic and the Ukraine crisis. He said that the economy is headed towards further crisis due to additional problems including high interest rates of banks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FNCCI Koshi Province said that attention should be paid to aspects like development of competitiveness, marketing, revenue policy and administration of the government, investment environment, easy supply of energy, anti-export trade economy, preferential trade and open border with India. In the program, IFC's Nepal office head Babacar S. Faye said that the delegation is ready to cooperate with the private sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the economic census published by the government in 2075, there are 168,518 industries operating in Koshi Province, of which 66,783 industries are operating in Morang and Sunsari alone. In the last 10 years, more than 250 new productive industries have been registered with the Department of Industries in Morang and Sunsari districts of Koshi Province.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FNCCI Koshi Province has been saying that industries that can increase the availability of raw materials based on agriculture, forestry, mining and animal husbandry and industries focused on the processing of those products should be promoted. Officials of the Federation as well as representatives from Morang-Sunsari Industrial Zone, President of Morang Industry Association Rakesh Surana and representatives of business organizations and institutions participated in the program.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18668', 'image' => '20230907031127_1694054563.jane.jpeg', 'article_date' => '2023-09-07 15:10:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18938', 'article_category_id' => '1', 'title' => 'OTC Market Transactions Gaining Popularity', 'sub_title' => '', 'summary' => 'September 7: Over the counter (OTC) market is on a rise in recent years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Over the counter (OTC) market is on a rise in recent years. In particular, the shares of companies whose listings have been canceled from the secondary market and which have not entered the listing process are traded in the OTC market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NEPSE informed that billions of rupees worth of securities are traded annually in the OTC market based on the agreed price of the buyer and the seller without the help of the securities brokers. NEPSE has been operating the OTC market as well in its own office through a separate counter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Looking at the data of the last five fiscal years provided by NEPSE, it appears that the highest numbers of securities transactions were made in the fiscal year (FY) 2077/78 with trading of approximately 12.6 million shares worth around Rs 2.93 billion. Before that, in the year 2075/76, around 16 million shares worth Rs 2.16 billion were traded.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Looking at the data of five years, in the years 2076/77 and 2078/79, the securities traded in the OTC market were worth less than Rs 2 billion. NEPSE informed that approximately 7.2 million shares worth around Rs 1.89 billion were traded in the year 2076/77 and around 11.7 million shares worth around Rs 1.53 billion in the year 2078/79.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the last fiscal year (FY 2079/80), around 2.1 million shares worth Rs 2.85 billion were traded. In terms of share, it seems that the last year saw the highest turnover in five years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Apart from the premium rates, there is an arrangement to buy shares of initial public offering (IPO) at a face value of Rs 100 per share in the primary market of securities. In the OTC market, there is no certainty in the price as the transaction is based on the agreed price of the buyer and the seller.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">There is also a situation where companies whose shares are traded at a higher price in the OTC market have issued IPO at a lower price. Hathaway Investment Nepal sold shares to the general public at a face value of Rs 50 per share. The company, which was trading at Rs 86 per share in the OTC market, sold the IPO at less than that price. Looking at the OTC market trading on June 6, a total of 357,295 shares of Hathaway Investments were traded at Rs 86 per share.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18667', 'image' => '20230907030323_1471338751226067.jpg', 'article_date' => '2023-09-07 15:02:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18937', 'article_category_id' => '1', 'title' => 'Central Bank to Test Digital Currency within Current Fiscal Year', 'sub_title' => '', 'summary' => 'September 7: Nepal Rastra Bank is going to test its digital currency within the current fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 7: Nepal Rastra Bank is going to test its digital currency within the current fiscal year. The central bank is going to develop the necessary infrastructure for issuing electronic currency and test it within a certain group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Our goal is to test the Central Bank Digital Currency (CBDC) within the current fiscal year by formulating the necessary laws, policies and developing the necessary technical infrastructure," Nepal Rastra Bank's Deputy Spokesperson Dr Dilliram Pokharel said, adding, “We have taken help from the International Finance Corporation (IFC) to this end.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank signed an agreement with the IFC last Monday for the setting up a new innovation and testing center known as the Regulatory Sandbox. It is said that new issues will be tested by creating a closed group of certain users through the 'Regulatory Sandbox'. CBDC will be put into public use only after successful testing within the closed group, said Deputy Spokesperson Pokharel.</span></span></span></span></p> <p><span style="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 interest shown by the general public in digital currency transactions and other countries also started issuing such currency, the central bank started the necessary homework to issue CBDC two years ago. Nepal Rastra Bank has formed a 'Steering Committee' under the coordination of Deputy Governor Bam Bahadur Mishra to advance the work of CBDC. A working group formed by the committee under the coordination of director Anuj Dahal for studying CBDC submitted a feasibility report in the previous 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"">Based on the study, the central bank while issuing the monetary policy said that further work will be carried forward regarding the issuance of CBDC. Accordingly, a separate unit has also been created in the Central Bank's Payment System Department.</span></span></span></span></p> <p><span style="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 feasibility study report conducted by the central bank has mentioned that it is appropriate to proceed with the CBDC project only by building a separate structure and team with the participation of all stakeholders. </span></span></span></span></p> <p><span style="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 initial stage, it has been suggested that a small unit can be set up within the Payment System Department or the Information Technology Department of the central bank and the work can be carried forward. </span></span></span></span></p> <p><span style="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 report has suggested to ensure high-level technology with security of data, capacity development of the central bank, detailed feasibility study, adequate legal system, target setting and public awareness before issuing CBDC. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the economy is gradually transforming from cash to digital, the report states that although electronic currency is necessary, political ownership and public acceptance are equally important for its success.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Central banks around the world have started issuing digital currencies with the increase in public interest in electronic currencies including 'cryptocurrencies' issued by the private sector. Since electronic money issued by the private sector does not have a legal basis or a responsible body, investing in it is considered risky. The electronic currency issued by the central bank is considered safe because it takes responsibility for it.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'digital, currency, Nepal, Rastra, Bank, electronic, IFC', 'description' => '', 'sortorder' => '18666', 'image' => '20230907012510_20230619074931_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-07 13:24:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18935', 'article_category_id' => '1', 'title' => 'NEA Launched 51 Rapid Charging Stations across the Country', 'sub_title' => '', 'summary' => 'September 7: The Nepal Electricity Authority (NEA) has built 51 fast-charging stations for electric vehicles with an investment of Rs 400 million.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 7: The Nepal Electricity Authority (NEA) has built 51 fast-charging stations for electric vehicles with an investment of Rs 400 million.</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"">The NEA on Wednesday inaugurated the 51 state-of-the-art fast charging stations built in main highways, bus parks and big cities of all seven provinces across the country.</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"">The charging stations were built with the investment of the NEA and concessional loans from the Asian Development Bank and the technical support from the Norwegian government under the EV Charging Infrastructure Development Project.</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"">According to the NEA, among the charging stations built at a cost of Rs 400 million, big buses, micro buses, trucks, pickups vans and cars can be charged in 26 stations while small and large cars can be charged in 25 of the newly built facilities.</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"">Minister for Energy, Water Resources and Irrigation Minister Shakti Bahadur Basnet and Secretary Dinesh Kumar Ghimire jointly inaugurated the fast charging stations constructed at the Nepal Police Club at Exhibition Road, Kathmandu.</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"">On the occasion, Minister Basnet described the operation of the 51 charging stations as an important step towards sustainable development of the country through reduction in carbon emissions and the adverse impact of climate change by means of consumption of clean energy. </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"">He mentioned that the government is working for policy and legal arrangements for the promotion of electric vehicles. He also said that efforts are being made to attract investors to produce electric vehicles in Nepal.</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"">NEA executive director Kulman Ghising said the charging stations have been set up for promoting EVs. Stating that EVs are 15 to 20 times cheaper than petrol-operated vehicles, he said the use of EVs will make positive contribution to the foreign currency reserves of the country. He shared that the NEA is going to install 500 more charging stations across the country. </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"">Chief of ADB South Asia Energy Division, Sujata Gupta said transport is an important sector for reducing carbon emissions and stressed on construction of infrastructures that promote the use of electric vehicles. </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"">After charging the vehicles, the customers can pay the bill through QR code and mobile app. </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'charging, stations, NEA, EV, electric, vehicles, clean, energy, ADB, Asian, Development Bank, Nepal, Electricity, Authority, cheap, efficient, fast, rapid, country', 'description' => '', 'sortorder' => '18665', 'image' => '20230907114127_20181206052724_Auto.jpg', 'article_date' => '2023-09-07 11:39:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18934', 'article_category_id' => '1', 'title' => 'Ncell Collaborates with Government to Facilitate Hello Sarkar', 'sub_title' => '', 'summary' => 'September 7: Ncell Axiata Limited has announced collaboration with the government to facilitate the operation of Hello Sarkar’s toll-free number 1111 round the clock.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Ncell Axiata Limited has announced collaboration with the government to facilitate the operation of Hello Sarkar’s toll-free number 1111 round the clock.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Issuing a recent statement, Ncell said its customers can now call the number for free to lodge their complaints.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prime Minister Pushpa Kamal Dahal had inaugurated the expanded operation of the Hello Sarkar services on Sunday. During the programme, the government had announced formally that the service has now been made accessible from the Ncell network too. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Inaugurating the services, Prime Minister Dahal said that it is a matter of happiness that Hello Sarkar will be operating 24/7 in three shifts to further strengthen the relationship between the government and the people. Talking about the Hello Sarkar and Ncell collaboration, he said, “I would like to thank Ncell for being connected with the Hello Sarkar.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hello Sarkar is a public grievances redressal mechanism that the government has been operating for the past 12 years to listen to the complaints and suggestions of the common citizens.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Expressing his excitement about this collaboration, Jabbor Kayumov, Chief Executive Officer and Managing Director of Ncell said, "Hello Sarkar is an exemplary mechanism of the Government of Nepal to listen to public concerns. We are delighted to collaborate with the government to contribute towards making the public service delivery even more effective as envisioned by the government.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Ncell users have been able to access Hello Sarkar’s toll-free number from the third week of August 2023. The announcement about the facility was made formally by the Office of the Prime Minister and Council of Ministers (OPMCM) on Sunday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the occasion, Chief Secretary Dr Baikuntha Aryal said that the government has also formed a Rapid Response Team to make the service of the Hello Sarkar more effective. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">As per the OPMCM, apart from phone calls, citizens can also lodge their grievances and suggestions through digital channels such as Email, Facebook, Twitter, Hello Sarkar Portal, Viber, WhatsApp, among others.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'Hello, sarkar, government, Nepal, Ncell, collaboration, complaints, effective, grievances', 'description' => '', 'sortorder' => '18664', 'image' => '20230907111811_ncell.jpg', 'article_date' => '2023-09-07 11:14:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18936', 'article_category_id' => '1', 'title' => 'Yamaha Announced Ride to MotoGP Trip', 'sub_title' => '', 'summary' => 'September 7: Yamaha Nepal has announced to take 10 Yamaha owners on an eight-day trip from Katmandu to Noida-based Buddh International Circuit under its ‘Ride to MotoGP’ scheme to watch the event in India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Yamaha Nepal has announced to take 10 Yamaha owners on an eight-day trip from Katmandu to Noida-based Buddh International Circuit under its ‘Ride to MotoGP’ scheme to watch the event in India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Wednesday, Yamaha Nepal said that the journey will take off from the Blue Square, Naxal on September 20 all the way to the Moto GP racing circuit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company stated that the selected Yamaha owners will get “true racing experience” at the MotoGP India from practice session, qualifiers to race. The MotoGP India is happening on September 22 to 24, 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Yamaha R15 has carried and infused the racing essence to the Nepalese community and has an excellent cult following. The ‘Ride to MotoGP’ is structured to acknowledge Yamaha owners’ passion over Yamaha sports motorcycles and MotoGP,” reads the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To be eligible for the trip, Yamaha Nepal said it has created a dedicated micro site where the owners can enter their initial details for the first round of registration. The registration for the first-round ends on Sept 9. Post registration Yamaha officials will inform the aspirants for further selection rounds. Yamaha said it will take 10 riders to India under certain terms and conditions. However, the company did not reveal the terms and conditions in the press statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We’ve seen many motorcycle and MotoGP fans getting Valentino Rossi VR46 stickers in their two wheelers. We are absolutely delighted to announce, ‘Ride to MotoGP’ offering an opportunity to owners who are passionate MotoGP fans, who want to witness the live race. We at Yamaha want to appeal to all the Yamaha owners to apply for the contest and experience this once in a lifetime opportunity,” the statement quoted Raju Chettri, CEO of MAW Two Wheelers Division, the authorized distributors of Yamaha brand in Nepal, as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement further says that Yamaha has a very prestigious racing legacy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Motorsports have been an essential part of Yamaha Motor’s corporate culture since its inception, and the first time a Yamaha motorcycle competed in earnest happened 10 days after the company was established, at the third Mount Fuji Ascent Race on July 10, 1955.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, the motive of Ride to MotoGP is to bring MotoGP experience closer to Nepal and add another milestone to aspire many motorsports enthusiasts towards racing. Yamaha Nepal claimed that it has been promoting racing events in Nepal.</span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'MotoGP, ride, Yamaha, Noida, Nepal, India', 'description' => '', 'sortorder' => '18663', 'image' => '20230907115911_ride.jpg', 'article_date' => '2023-09-07 11:58:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18933', 'article_category_id' => '1', 'title' => 'NTC Expands Internet Service to Four Districts of Eastern Nepal ', 'sub_title' => '', 'summary' => 'September 6: Nepal Telecom Corporation (NTC) has expanded internet service in four districts in eastern Nepal including Dhankuta, Tehrathum, Sankhuwasabha and Bhojpur by laying optical fibre.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: Nepal Telecom Corporation (NTC) has expanded internet service in four districts in eastern Nepal including Dhankuta, Tehrathum, Sankhuwasabha and Bhojpur by laying optical fibre. With the installation of the fibre, customers can now avail fast internet and 4G service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTC customers can have internet package ranging from up to 82,580 Mbps, said senior engineer Suman Acharya, chief of the NTC Dhankuta branch office. Internet has been expanded to Hile bazaar, Mulghat, Sindhuwa bazaar and Bhedetar bazaar in Dhankuta district, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the expansion of internet service in Pakhribas Municipality and Chaubise Rural Municipality in the district will be complete within the current fiscal year, added Acharya. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet service has also been expanded in Khandabari, Tumlingtar, Muheshanishare of Dharma Devi Municipality in Sankhuwasabha, while the works of installing optical fibre in Chainpur Municipality will begin this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet speed of 100 Gbps has been set up in Itahari of Sunsari district, Hile of Dhankuta, Myanglung of Tehrathum, Phidim of Panchthar and Birtamod of Jhapa. In Dhankuta, 8,000 households have been using internet, 1,500 in Bhojpur, 2,000 in Sankhuwasabha and 1,500 in Tehrathum. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'Internet, Nepal, eastern, telecom, NTC, optical, fibre, high, speed, mbps, gbps', 'description' => '', 'sortorder' => '18662', 'image' => '20230907105804_internet.jpg', 'article_date' => '2023-09-07 10:56:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18932', 'article_category_id' => '1', 'title' => 'Toxic Grass Kills Seven Cows in Chitwan', 'sub_title' => '', 'summary' => 'Due to the consumption of poisonous grass, seven cows in a single farm have died in Bharatpur, Chitwan. Out of 11 cows, seven of them have died at Shubh Narayani Cow Farm, in Bharatpur-11 due to the consumption of poisonous grass.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">September 7: Due to the consumption of poisonous grass, seven cows in a single farm have died in Bharatpur, Chitwan. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Out of 11 cows, seven of them have died at Shubh Narayani Cow Farm, in Bharatpur-11 due to the consumption of poisonous grass.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The farm's operator, Shiv Lamichhane, said that they noticed that the cows had become sick after eating grass since last Sunday after they had the grass. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Initially, the sick cows were provided home treatment as they stopped drinking water. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Despite providing home remedies, the cows did not recover, so they had informed veterinary doctors. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Even after receiving professional treatment, condition of the cows did not improve, according to him.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Lamichhane mentioned that on Sunday evening, five cows died, and on Monday evening, two more breathed their last. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Symptoms such as drooling, protruding tongue, and bloating were seen in the cows before they died.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Another cow in the same has also fallen ill since Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">“I have been in keeping cow for the last 16 years, and has never seen such a problem before,”Lamichhane lamented. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The death of cows has incurred Lamichanne a loss of around Rs 1 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Veterinary doctors and livestock experts attributed the death of cows to poisonous grass. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Sushil KC the chief of the veterinary center, said, "It appears that the grass was poisoned. Besides that, we have not identified any other issues." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The post- mortem shows no other problems. The cows that consumed the poisoned grass died, while those that did not eat it survived, according to KC. </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18661', 'image' => '20230907060023_collage (4).jpg', 'article_date' => '2023-09-07 05:58:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18931', 'article_category_id' => '1', 'title' => 'NEPSE Grants Final Membership Licenses to 11 More Broker Companies', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) has approved final membership licenses for 11 new broker companies. This decision was made during the NEPSE Board of Directors meeting held on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">September 6: The Nepal Stock Exchange (NEPSE) has approved final membership licenses for 11 new broker companies. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> This decision was made during the NEPSE Board of Directors meeting held on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The companies that have received licenses include Garima Securities Limited, Pahi Investment Pvt. Ltd, Indira Securities Pvt. Ltd, NMB Securities Ltd and Akash Bhairav Securities Ltd.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Similarly, Sanima Securities Ltd, Milky Way Share Broker Company Ltd, Stochastic Securities Ltd, S.P.S.A Securities Ltd, and Bluechip Securities Ltd also received the final membership licenses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The licenses were granted after the NEPSE officials assessed that these companies met the necessary infrastructural requirements. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With this, the total number of companies receiving the final licenses from the Securities Board of Nepal (SEBON) has reached 37. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Initially, out of the 46 applicant companies, 43 had received preliminary licenses or letters of intent (LOI) from SEBON in three different phases.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18660', 'image' => '20230906021205_collage (3).jpg', 'article_date' => '2023-09-06 14:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18945', 'article_category_id' => '1', 'title' => 'Government to Monitor Transactions of Multinational Companies in Nepal', 'sub_title' => '', 'summary' => 'September 8: The Government of Nepal is preparing to monitor the transactions of multinational companies doing business in Nepal. ', '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"">Bijay Damase</span></span></span></span></p> <p><span style="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 8: The Government of Nepal is preparing to monitor the transactions of multinational companies doing business in Nepal. The government is trying to implement 'transfer pricing' guidelines to monitor the actual transactions and income of those 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"">According to the Inland Revenue Department, this will clearly reveal whether the multinational companies operating in Nepal have paid the taxes based on actual volume of transactions or not.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department said that a policy to prevent tax evasion will be taken based on the record of their business and transactions in the 'transfer pricing' system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bimal Sapkota, director of the policy analysis branch of the Inland Revenue Department, said that this type of surveillance is being carried out to control tax evasion that may be caused by base erosion and profit shifting as well as profit fragmentation through 'transfer pricing'.</span></span></span></span></p> <p><span style="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 trend of multinational companies establishing branches in Nepal is increasing recently. Officials claim that they are paying unnaturally higher rates than the prevailing rates in the market by taking services such as consulting, management and purchasing goods from the parent company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'Transfer price' is the price paid when the business or subsidiary or affiliated companies under the same owner or common control buy and sell goods or services to each other. In such a transaction, the company can reduce its tax liability by showing that the profit of one of its own units, subsidiaries or affiliated companies has gone into losses in a planned way or transfer the profits of one company to another unit or subsidiary company. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Transfer pricing" also helps to shift the profit earned by the company in a country with a high tax rate to a country with a low tax rate. In this, the company sells its services or goods to any unit, branch or subsidiary/affiliate within the company for money. It is like buying goods or services from the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transfer pricing is considered a legal technique by which companies transfer profits to reduce the tax liability of the parent company. This practice reduces the tax expenses of companies. The state does not get the revenue it should get. Due to the increasing tendency of companies to hide a large part of their taxable income in this way in recent years, most of the countries in the world have started to control tax evasion through 'transfer pricing'.</span></span></span></span></p> <p><span style="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 department, the draft of 'Transfer Pricing Guidelines' has been prepared. Director Sapkota informed that it is ready to be implemented. "The final guideline will come and be implemented in one or two months," he said, "The only reason for developing the transfer pricing system is to hold the multinational companies accountable for the actual transactions in Nepal."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department believes that when the tax administration starts looking at 'transfer pricing', such companies will keep proper details and records. In the budget of the current fiscal year, it is mentioned that the 'transfer pricing' policy will be implemented from this year. According to tax officials, Google, Facebook and others are doing business outside Nepal. They do not come under the 'transfer pricing' monitoring. They have been brought under the ambit of taxation since last year by imposing electronic service tax and value added tax. The tax administration of Nepal cannot impose tax on their separate profit and loss account.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have been levied </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""> percent service tax and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent value added tax since last year. Now </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10/12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> such companies have come under the scope of tax. Nine international companies dealing in electronic services in Nepal have already paid taxes of about Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Those international companies registered with the Inland Revenue Department have paid the amount under the title of value addition only in the last fiscal year (FY) </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"">22</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"">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"">The process of registering such companies for tax is increasing.</span></span></span></span></p> <p><span style="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 nineties, the practice of 'transfer pricing' was widespread. Many American multinational companies, including Amazon, Apple, Google, and Starbucks, moved their profits to "tax haven" countries by adopting the method of "transfer pricing". Many countries, including the United States and Britain, started strongly opposing it. Most of these companies were fined billions of dollars after it was confirmed that they had shifted their profits with the help of 'transfer pricing'.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => 'transfer, pricing, multinational, companies, Nepal, government, monitor, profit, transaction, actual, Google, Amazon, evasion, tax', 'description' => '', 'sortorder' => '18674', 'image' => '20230908030244_Finshots--12455-03.jpg', 'article_date' => '2023-09-08 15:01:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18944', 'article_category_id' => '1', 'title' => '55 Percent of Families Engaged in Farming cannot Feed themselves Throughout the Year', 'sub_title' => '', 'summary' => 'September 8: The Seventh National Agricultural Census 2078 released by the National Statistics Office (NSO) in Thursday shows that only 45 percent of households involved in farming in Nepal, a predominantly agricultural country, are able to cultivate food crops enough to feed themselves throughout the year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 8: The Seventh National Agricultural Census 2078 released by the National Statistics Office (NSO) in Thursday shows that only 45 percent of households involved in farming in Nepal, a predominantly agricultural country, are able to cultivate food crops enough to feed themselves throughout the 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"">According to the agricultural census data, out of the total 66,67,000 households in Nepal, 41,30,789 families depend on agriculture for their livelihood. It means that 62 percent of the households in Nepal are engaged in agriculture.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among them, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families are able to feed themselves all year round with the income from their own agricultural 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"">In other words, roughly around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</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"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000 families involved in agriculture can feed themselves throughout the year while the number of farming families who cannot feed themselves all year round with their own produce stands at around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000, which is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</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 last decade, the number of families involved in farming that could produce enough for a year has increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points. In the previous count, the number of farming families who could feed themselves round the year their own produce was </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. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director of Agriculture and Livestock Counting Branch of the NSO, Badri Kumar Karki, said that the easy availability of chemical fertilizers, the use of advanced seeds and the availability of pesticides for crop diseases are the main reasons for the increase in the number of farmers who have adequate access to food. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, he says that this increase cannot be considered satisfactory as the number of people shifting from agricultural profession to other professions is increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families involved in farming say that they do not have enough food for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families say that they do not have enough food for three months. As per the previous agricultural census, the percentage of families not having enough food for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">44</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">and those who did not have enough food for even </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</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 order to make up for the shortfall, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the families involved in farming make a living by doing labor work within the country. Eighteen percent said that they opted for foreign employment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households said that they are engaged in non-agricultural works while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent said they took loans meet the daily expenses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Uddhav Adhikari, coordinator of the Agricultural Campaign for Food, said that the agriculture sector has been affected by damage caused by wild animals and climate change among others.</span></span></span></span></p> <p><span style="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 area of cultivated land decreased</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last decade, the area of agricultural land in Nepal has decreased. According to the seventh agricultural census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million hectares of arable land. Compared to the agricultural census of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2068</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the cultivable land has declined by 308,000. Back then, farmers used to cultivate on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million hectares of land.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the area of cultivated land has decreased, the number of families engaged in agricultural work has increased, the data shows. According to the new data, the number of farming families has increased by around </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"">00,000. Currently, around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">41</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">families are involved in agriculture across the country. In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2068</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, this number was roughly around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director Karki says that this number has increased not because of people leaving other professions and embracing agriculture, but because of the breakup of families engaged in agricultural work.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18673', 'image' => '20230908124019_agri maize.jpg', 'article_date' => '2023-09-08 12:39:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18943', 'article_category_id' => '1', 'title' => '51 Local Bodies yet to Unveil Budget', 'sub_title' => '', 'summary' => 'September 8: Altogether 51 local units across the country have not yet been able to come up with their budget for the current fiscal year (FY) 2023/24.', '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 8: Altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">51</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> local units across the country have not yet been able to come up with their budget for the current fiscal year (FY) </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</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"">According to the Inter-Governmental Fiscal Arrangement Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2074</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the local bodies across the country must unveil the budget for the next fiscal year by June 25</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"">The Ministry of Federal Affairs and General Administration has informed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">51</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> local levels out of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">753</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> across the country have not yet announced the budget.</span></span></span></span></p> <p><span style="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 local government cannot spend budget from the accumulated funds without endorsing the budget. Auditor General will raise questions if spending is done without passing budget. The National Natural Resources and Fiscal Commission also cuts the subsidy of the local level that does not bring the budget on 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 the ministry, there are four municipalities in Koshi province, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Madhesh Province, </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""> in Bagmati Province, </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""> in Gandaki Province, </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""> in Lumbini Province, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Karnali Province and </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""> in Far West Province that have not yet unveiled their budgets. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the local levels that have failed to unveil the budget for the current fiscal year within the constitutional deadline fall in Madhes Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no consensus in forming the budget especially when the mayor of a particular local body belongs to one political party and the other parties have majority in the executive body.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Purushottam Ghimire, chief administrative officer of Kanchanrup Municipality of Saptari, said that the budget has not been announced due to lack of consensus. </span></span></span></span></p> <p><span style="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 people’s representatives have not been able to reach an understanding to announce the budget. Efforts are being made to reach an agreement," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Rajviraj and Hanumannagar Kankalini municipalities of Saptari and Chinnamasta, Mahadeva, Rupni and Balan-Bihul Rural Municipality are also unable to bring the budget due to internal disputes among the people’s representatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sirah has a similar problem. Kalyanpur Municipality of Siraha and Aurhi, Navrajpur and Bhagwanpur Rural Municipality have not announced their budget. Kamala Municipality of Dhanusha, Dhanauji Rural Municipality and Sonama Rural Municipality of Mahottari have not announced their budget as well. Sarlahi's Balra, Hariwan and Haripurwa municipalities and Chandranagar Rural Municipality have not announced their budget either. It has raised questions about the responsibility and good governance of the local level.</span></span></span></span></p> <p><span style="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 local governments cannot spend money from the accumulated fund until the budget is passed by the Municipal Council. It is illegal for the local level to spend the budget without passing the budget. Joint secretary of the federal affairs ministry, Kamal Prasad Bhattarai, says that the local level is not serious about this arrangement. </span></span></span></span></p> <p><span style="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, if the budget is not brought on time, the local government will not be able to spend the budget. As the local governments are autonomous, the federal government cannot legally punish those who do not announce the budget on time. In this case, the program implemented by the local government is affected. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18672', 'image' => '20230908115059_1683767264.jpg', 'article_date' => '2023-09-08 11:50:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18942', 'article_category_id' => '1', 'title' => 'SC Issues Mandamus Order to Form New Government in Koshi Province within 48 Hours ', 'sub_title' => '', 'summary' => 'September 8: The Supreme Court (SC) on Thursday issued a mandamus order to form a new Council of Ministers in Koshi Province within 48 hours. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: The Supreme Court (SC) on Thursday issued a mandamus order to form a new Council of Ministers in Koshi Province within 48 hours. The apex court issued such an order after concluding that the vote of confidence taken by Chief Minister Uddhab Thapa was unconstitutional. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of justices Sapana Pradhan Malla, Dr Kumar Chudal and Nahakul Subedi issued the mandamus order in the name of Koshi Province chief to form a new government as per the Article 168 (3) of the Constitution of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC said that the parliamentary party leader of a single largest party is deemed necessary to be appointed as the chief minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The SC has stated that opting for the alternatives given by the constitution is appropriate in terms of healthy constitutional exercise instead of applying a single option repeatedly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The parliamentary party leader of the CPN (UML) Koshi Province Hikmat Kumar Karki had lodged a petition at the SC stating that the process to obtain vote of confidence by Chief Minister Thapa was unconstitutional. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa had taken the vote of confidence from the province assembly on August 23. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => 'supreme, court, new, government, council, ministers, Koshi, province, unconstitutional, mandamus, order', 'description' => '', 'sortorder' => '18671', 'image' => '20230908110339_Supreme Court.jpg', 'article_date' => '2023-09-08 11:02:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18941', 'article_category_id' => '1', 'title' => 'Ainapahara Waterfall Gaining Popularity Among Domestic Tourists in Tanahun', 'sub_title' => '', 'summary' => 'Ainapahara waterfall, seated in the Abukhaireni rural municipality-2 of Tanahu district, has emerged as a favourite destination for domestic tourists.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 8 : Ainapahara waterfall, seated in the Abukhaireni rural municipality-2 of Tanahu district, has emerged as a favourite destination for domestic tourists.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Previously, the site lacked proper management, but significant improvements have transformed its overall appeal. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Local representatives are now dedicatedly working towards establishing Ainapahara as a prominent tourism hotspot.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The primary objective is to elevate Ainapahara waterfall into a recreational haven for tourists. To achieve this, artisans are meticulously crafting artistic statues and structures from the natural rocks and stones found in the vicinity of Ainapahara.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The Abukhaireni rural municipality has initiated the creation of sculptures, such as those depicting a mother and son, to enhance the tourism potential of the area.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These efforts have led to a notable increase in the number of tourists visiting Ainapahara, with local resident Bijay Gurung expressing optimism about its prospects as a tourism destination, particularly due to its proximity to the Prithvi Highway.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shukra Chuman, the Chairperson of Abukhaireni rural municipality, highlighted the role of social media in boosting Ainapahara's popularity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The sharing of photos and videos of the site on social platforms has contributed to its growing appeal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the previous fiscal year, an allocation of Rs 14 million was earmarked for the construction of Ainapahara Park. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Chuman outlined a vision to develop Ainapahara as one of the premier tourism sites not just in Tanahu but also within the Gandaki Province.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> To make Ainapahara even more captivating, plans are underway to introduce sky-cycling and a glass walk bridge at the location. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a comprehensive master plan has been devised to ensure the systematic development of Ainapahara waterfall. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-09-08', 'modified' => '2023-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '18670', 'image' => '20230908060317_collage (5).jpg', 'article_date' => '2023-09-08 06:00:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18940', 'article_category_id' => '1', 'title' => 'CAAN Unveils Budget of Over Rs 36 Billion ', 'sub_title' => '', 'summary' => 'September 7: The Civil Aviation Authority of Nepal (CAAN) has endorsed a budget of Rs 36.66 billion for the fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The Civil Aviation Authority of Nepal (CAAN) has endorsed a budget of Rs 36.66 billion for the fiscal year 2023/24. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of CAAN’s Board of Directors approved the budget of Rs 36.66 billion for the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN spokesperson Jagannath Niraula said the budget for the current fiscal year has been allocated by determining priority sectors including aviation and air safety, infrastructure development, airport operation etc. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Niraula, the budget has prioritized collaboration with international organisations, increasing the services and facilities for passengers, income generation and fiscal discipline and human resources development, among others. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN has set the target of generating income of Rs 15.88 billion in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, looking at the records of CAAN, the aviation regulatory body has failed to meet its income target in the last four years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CAAN admitted that it has not been able to generate income as per the target since the fiscal year 2019/20 due to the coronavirus pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CAAN earns income from fees collected from landing, parking, ground handling of aircraft as well as the rent of the airport and physical infrastructures of the CAAN. (With inputs from RSS)</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18669', 'image' => '20230907060137_20230901035752_1693541792.jpg', 'article_date' => '2023-09-07 18:01:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18939', 'article_category_id' => '1', 'title' => '‘Industrialists at the Receiving End due to NRB’s Policy’', 'sub_title' => '', 'summary' => 'September 7: Biratnagar chapter of the Federation of Nepalese Chamber of Commerce and Industry President Rajendra Raut shared that the industrial sector has suffered due to exorbitant interest rates of banks and other problems caused by the policy adopted by the Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Biratnagar chapter of the Federation of Nepalese Chamber of Commerce and Industry President Rajendra Raut shared that the industrial sector has suffered due to exorbitant interest rates of banks and other problems caused by the policy adopted by the Nepal Rastra Bank (NRB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a round table program organized by the International Finance Corporation (IFC) in Biratnagar on Tuesday, Raut said that the private sector, which had made some progress after tackling the issues like political instability, heavy load shedding, and India's blockade, got more affected by the Covid-19 pandemic and the Ukraine crisis. He said that the economy is headed towards further crisis due to additional problems including high interest rates of banks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FNCCI Koshi Province said that attention should be paid to aspects like development of competitiveness, marketing, revenue policy and administration of the government, investment environment, easy supply of energy, anti-export trade economy, preferential trade and open border with India. In the program, IFC's Nepal office head Babacar S. Faye said that the delegation is ready to cooperate with the private sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the economic census published by the government in 2075, there are 168,518 industries operating in Koshi Province, of which 66,783 industries are operating in Morang and Sunsari alone. In the last 10 years, more than 250 new productive industries have been registered with the Department of Industries in Morang and Sunsari districts of Koshi Province.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FNCCI Koshi Province has been saying that industries that can increase the availability of raw materials based on agriculture, forestry, mining and animal husbandry and industries focused on the processing of those products should be promoted. Officials of the Federation as well as representatives from Morang-Sunsari Industrial Zone, President of Morang Industry Association Rakesh Surana and representatives of business organizations and institutions participated in the program.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18668', 'image' => '20230907031127_1694054563.jane.jpeg', 'article_date' => '2023-09-07 15:10:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18938', 'article_category_id' => '1', 'title' => 'OTC Market Transactions Gaining Popularity', 'sub_title' => '', 'summary' => 'September 7: Over the counter (OTC) market is on a rise in recent years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Over the counter (OTC) market is on a rise in recent years. In particular, the shares of companies whose listings have been canceled from the secondary market and which have not entered the listing process are traded in the OTC market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NEPSE informed that billions of rupees worth of securities are traded annually in the OTC market based on the agreed price of the buyer and the seller without the help of the securities brokers. NEPSE has been operating the OTC market as well in its own office through a separate counter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Looking at the data of the last five fiscal years provided by NEPSE, it appears that the highest numbers of securities transactions were made in the fiscal year (FY) 2077/78 with trading of approximately 12.6 million shares worth around Rs 2.93 billion. Before that, in the year 2075/76, around 16 million shares worth Rs 2.16 billion were traded.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Looking at the data of five years, in the years 2076/77 and 2078/79, the securities traded in the OTC market were worth less than Rs 2 billion. NEPSE informed that approximately 7.2 million shares worth around Rs 1.89 billion were traded in the year 2076/77 and around 11.7 million shares worth around Rs 1.53 billion in the year 2078/79.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the last fiscal year (FY 2079/80), around 2.1 million shares worth Rs 2.85 billion were traded. In terms of share, it seems that the last year saw the highest turnover in five years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Apart from the premium rates, there is an arrangement to buy shares of initial public offering (IPO) at a face value of Rs 100 per share in the primary market of securities. In the OTC market, there is no certainty in the price as the transaction is based on the agreed price of the buyer and the seller.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">There is also a situation where companies whose shares are traded at a higher price in the OTC market have issued IPO at a lower price. Hathaway Investment Nepal sold shares to the general public at a face value of Rs 50 per share. The company, which was trading at Rs 86 per share in the OTC market, sold the IPO at less than that price. Looking at the OTC market trading on June 6, a total of 357,295 shares of Hathaway Investments were traded at Rs 86 per share.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18667', 'image' => '20230907030323_1471338751226067.jpg', 'article_date' => '2023-09-07 15:02:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18937', 'article_category_id' => '1', 'title' => 'Central Bank to Test Digital Currency within Current Fiscal Year', 'sub_title' => '', 'summary' => 'September 7: Nepal Rastra Bank is going to test its digital currency within the current fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 7: Nepal Rastra Bank is going to test its digital currency within the current fiscal year. The central bank is going to develop the necessary infrastructure for issuing electronic currency and test it within a certain group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Our goal is to test the Central Bank Digital Currency (CBDC) within the current fiscal year by formulating the necessary laws, policies and developing the necessary technical infrastructure," Nepal Rastra Bank's Deputy Spokesperson Dr Dilliram Pokharel said, adding, “We have taken help from the International Finance Corporation (IFC) to this end.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank signed an agreement with the IFC last Monday for the setting up a new innovation and testing center known as the Regulatory Sandbox. It is said that new issues will be tested by creating a closed group of certain users through the 'Regulatory Sandbox'. CBDC will be put into public use only after successful testing within the closed group, said Deputy Spokesperson Pokharel.</span></span></span></span></p> <p><span style="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 interest shown by the general public in digital currency transactions and other countries also started issuing such currency, the central bank started the necessary homework to issue CBDC two years ago. Nepal Rastra Bank has formed a 'Steering Committee' under the coordination of Deputy Governor Bam Bahadur Mishra to advance the work of CBDC. A working group formed by the committee under the coordination of director Anuj Dahal for studying CBDC submitted a feasibility report in the previous 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"">Based on the study, the central bank while issuing the monetary policy said that further work will be carried forward regarding the issuance of CBDC. Accordingly, a separate unit has also been created in the Central Bank's Payment System Department.</span></span></span></span></p> <p><span style="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 feasibility study report conducted by the central bank has mentioned that it is appropriate to proceed with the CBDC project only by building a separate structure and team with the participation of all stakeholders. </span></span></span></span></p> <p><span style="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 initial stage, it has been suggested that a small unit can be set up within the Payment System Department or the Information Technology Department of the central bank and the work can be carried forward. </span></span></span></span></p> <p><span style="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 report has suggested to ensure high-level technology with security of data, capacity development of the central bank, detailed feasibility study, adequate legal system, target setting and public awareness before issuing CBDC. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the economy is gradually transforming from cash to digital, the report states that although electronic currency is necessary, political ownership and public acceptance are equally important for its success.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Central banks around the world have started issuing digital currencies with the increase in public interest in electronic currencies including 'cryptocurrencies' issued by the private sector. Since electronic money issued by the private sector does not have a legal basis or a responsible body, investing in it is considered risky. The electronic currency issued by the central bank is considered safe because it takes responsibility for it.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'digital, currency, Nepal, Rastra, Bank, electronic, IFC', 'description' => '', 'sortorder' => '18666', 'image' => '20230907012510_20230619074931_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-07 13:24:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18935', 'article_category_id' => '1', 'title' => 'NEA Launched 51 Rapid Charging Stations across the Country', 'sub_title' => '', 'summary' => 'September 7: The Nepal Electricity Authority (NEA) has built 51 fast-charging stations for electric vehicles with an investment of Rs 400 million.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 7: The Nepal Electricity Authority (NEA) has built 51 fast-charging stations for electric vehicles with an investment of Rs 400 million.</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"">The NEA on Wednesday inaugurated the 51 state-of-the-art fast charging stations built in main highways, bus parks and big cities of all seven provinces across the country.</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"">The charging stations were built with the investment of the NEA and concessional loans from the Asian Development Bank and the technical support from the Norwegian government under the EV Charging Infrastructure Development Project.</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"">According to the NEA, among the charging stations built at a cost of Rs 400 million, big buses, micro buses, trucks, pickups vans and cars can be charged in 26 stations while small and large cars can be charged in 25 of the newly built facilities.</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"">Minister for Energy, Water Resources and Irrigation Minister Shakti Bahadur Basnet and Secretary Dinesh Kumar Ghimire jointly inaugurated the fast charging stations constructed at the Nepal Police Club at Exhibition Road, Kathmandu.</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"">On the occasion, Minister Basnet described the operation of the 51 charging stations as an important step towards sustainable development of the country through reduction in carbon emissions and the adverse impact of climate change by means of consumption of clean energy. </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"">He mentioned that the government is working for policy and legal arrangements for the promotion of electric vehicles. He also said that efforts are being made to attract investors to produce electric vehicles in Nepal.</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"">NEA executive director Kulman Ghising said the charging stations have been set up for promoting EVs. Stating that EVs are 15 to 20 times cheaper than petrol-operated vehicles, he said the use of EVs will make positive contribution to the foreign currency reserves of the country. He shared that the NEA is going to install 500 more charging stations across the country. </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"">Chief of ADB South Asia Energy Division, Sujata Gupta said transport is an important sector for reducing carbon emissions and stressed on construction of infrastructures that promote the use of electric vehicles. </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"">After charging the vehicles, the customers can pay the bill through QR code and mobile app. </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'charging, stations, NEA, EV, electric, vehicles, clean, energy, ADB, Asian, Development Bank, Nepal, Electricity, Authority, cheap, efficient, fast, rapid, country', 'description' => '', 'sortorder' => '18665', 'image' => '20230907114127_20181206052724_Auto.jpg', 'article_date' => '2023-09-07 11:39:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18934', 'article_category_id' => '1', 'title' => 'Ncell Collaborates with Government to Facilitate Hello Sarkar', 'sub_title' => '', 'summary' => 'September 7: Ncell Axiata Limited has announced collaboration with the government to facilitate the operation of Hello Sarkar’s toll-free number 1111 round the clock.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 7: Ncell Axiata Limited has announced collaboration with the government to facilitate the operation of Hello Sarkar’s toll-free number 1111 round the clock.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Issuing a recent statement, Ncell said its customers can now call the number for free to lodge their complaints.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prime Minister Pushpa Kamal Dahal had inaugurated the expanded operation of the Hello Sarkar services on Sunday. During the programme, the government had announced formally that the service has now been made accessible from the Ncell network too. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Inaugurating the services, Prime Minister Dahal said that it is a matter of happiness that Hello Sarkar will be operating 24/7 in three shifts to further strengthen the relationship between the government and the people. Talking about the Hello Sarkar and Ncell collaboration, he said, “I would like to thank Ncell for being connected with the Hello Sarkar.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hello Sarkar is a public grievances redressal mechanism that the government has been operating for the past 12 years to listen to the complaints and suggestions of the common citizens.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Expressing his excitement about this collaboration, Jabbor Kayumov, Chief Executive Officer and Managing Director of Ncell said, "Hello Sarkar is an exemplary mechanism of the Government of Nepal to listen to public concerns. We are delighted to collaborate with the government to contribute towards making the public service delivery even more effective as envisioned by the government.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Ncell users have been able to access Hello Sarkar’s toll-free number from the third week of August 2023. The announcement about the facility was made formally by the Office of the Prime Minister and Council of Ministers (OPMCM) on Sunday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the occasion, Chief Secretary Dr Baikuntha Aryal said that the government has also formed a Rapid Response Team to make the service of the Hello Sarkar more effective. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">As per the OPMCM, apart from phone calls, citizens can also lodge their grievances and suggestions through digital channels such as Email, Facebook, Twitter, Hello Sarkar Portal, Viber, WhatsApp, among others.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'Hello, sarkar, government, Nepal, Ncell, collaboration, complaints, effective, grievances', 'description' => '', 'sortorder' => '18664', 'image' => '20230907111811_ncell.jpg', 'article_date' => '2023-09-07 11:14:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18936', 'article_category_id' => '1', 'title' => 'Yamaha Announced Ride to MotoGP Trip', 'sub_title' => '', 'summary' => 'September 7: Yamaha Nepal has announced to take 10 Yamaha owners on an eight-day trip from Katmandu to Noida-based Buddh International Circuit under its ‘Ride to MotoGP’ scheme to watch the event in India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Yamaha Nepal has announced to take 10 Yamaha owners on an eight-day trip from Katmandu to Noida-based Buddh International Circuit under its ‘Ride to MotoGP’ scheme to watch the event in India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Wednesday, Yamaha Nepal said that the journey will take off from the Blue Square, Naxal on September 20 all the way to the Moto GP racing circuit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company stated that the selected Yamaha owners will get “true racing experience” at the MotoGP India from practice session, qualifiers to race. The MotoGP India is happening on September 22 to 24, 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Yamaha R15 has carried and infused the racing essence to the Nepalese community and has an excellent cult following. The ‘Ride to MotoGP’ is structured to acknowledge Yamaha owners’ passion over Yamaha sports motorcycles and MotoGP,” reads the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To be eligible for the trip, Yamaha Nepal said it has created a dedicated micro site where the owners can enter their initial details for the first round of registration. The registration for the first-round ends on Sept 9. Post registration Yamaha officials will inform the aspirants for further selection rounds. Yamaha said it will take 10 riders to India under certain terms and conditions. However, the company did not reveal the terms and conditions in the press statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We’ve seen many motorcycle and MotoGP fans getting Valentino Rossi VR46 stickers in their two wheelers. We are absolutely delighted to announce, ‘Ride to MotoGP’ offering an opportunity to owners who are passionate MotoGP fans, who want to witness the live race. We at Yamaha want to appeal to all the Yamaha owners to apply for the contest and experience this once in a lifetime opportunity,” the statement quoted Raju Chettri, CEO of MAW Two Wheelers Division, the authorized distributors of Yamaha brand in Nepal, as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement further says that Yamaha has a very prestigious racing legacy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Motorsports have been an essential part of Yamaha Motor’s corporate culture since its inception, and the first time a Yamaha motorcycle competed in earnest happened 10 days after the company was established, at the third Mount Fuji Ascent Race on July 10, 1955.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, the motive of Ride to MotoGP is to bring MotoGP experience closer to Nepal and add another milestone to aspire many motorsports enthusiasts towards racing. Yamaha Nepal claimed that it has been promoting racing events in Nepal.</span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'MotoGP, ride, Yamaha, Noida, Nepal, India', 'description' => '', 'sortorder' => '18663', 'image' => '20230907115911_ride.jpg', 'article_date' => '2023-09-07 11:58:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18933', 'article_category_id' => '1', 'title' => 'NTC Expands Internet Service to Four Districts of Eastern Nepal ', 'sub_title' => '', 'summary' => 'September 6: Nepal Telecom Corporation (NTC) has expanded internet service in four districts in eastern Nepal including Dhankuta, Tehrathum, Sankhuwasabha and Bhojpur by laying optical fibre.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: Nepal Telecom Corporation (NTC) has expanded internet service in four districts in eastern Nepal including Dhankuta, Tehrathum, Sankhuwasabha and Bhojpur by laying optical fibre. With the installation of the fibre, customers can now avail fast internet and 4G service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTC customers can have internet package ranging from up to 82,580 Mbps, said senior engineer Suman Acharya, chief of the NTC Dhankuta branch office. Internet has been expanded to Hile bazaar, Mulghat, Sindhuwa bazaar and Bhedetar bazaar in Dhankuta district, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the expansion of internet service in Pakhribas Municipality and Chaubise Rural Municipality in the district will be complete within the current fiscal year, added Acharya. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet service has also been expanded in Khandabari, Tumlingtar, Muheshanishare of Dharma Devi Municipality in Sankhuwasabha, while the works of installing optical fibre in Chainpur Municipality will begin this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet speed of 100 Gbps has been set up in Itahari of Sunsari district, Hile of Dhankuta, Myanglung of Tehrathum, Phidim of Panchthar and Birtamod of Jhapa. In Dhankuta, 8,000 households have been using internet, 1,500 in Bhojpur, 2,000 in Sankhuwasabha and 1,500 in Tehrathum. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => 'Internet, Nepal, eastern, telecom, NTC, optical, fibre, high, speed, mbps, gbps', 'description' => '', 'sortorder' => '18662', 'image' => '20230907105804_internet.jpg', 'article_date' => '2023-09-07 10:56:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18932', 'article_category_id' => '1', 'title' => 'Toxic Grass Kills Seven Cows in Chitwan', 'sub_title' => '', 'summary' => 'Due to the consumption of poisonous grass, seven cows in a single farm have died in Bharatpur, Chitwan. Out of 11 cows, seven of them have died at Shubh Narayani Cow Farm, in Bharatpur-11 due to the consumption of poisonous grass.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">September 7: Due to the consumption of poisonous grass, seven cows in a single farm have died in Bharatpur, Chitwan. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Out of 11 cows, seven of them have died at Shubh Narayani Cow Farm, in Bharatpur-11 due to the consumption of poisonous grass.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The farm's operator, Shiv Lamichhane, said that they noticed that the cows had become sick after eating grass since last Sunday after they had the grass. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Initially, the sick cows were provided home treatment as they stopped drinking water. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Despite providing home remedies, the cows did not recover, so they had informed veterinary doctors. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Even after receiving professional treatment, condition of the cows did not improve, according to him.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Lamichhane mentioned that on Sunday evening, five cows died, and on Monday evening, two more breathed their last. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Symptoms such as drooling, protruding tongue, and bloating were seen in the cows before they died.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Another cow in the same has also fallen ill since Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">“I have been in keeping cow for the last 16 years, and has never seen such a problem before,”Lamichhane lamented. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The death of cows has incurred Lamichanne a loss of around Rs 1 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Veterinary doctors and livestock experts attributed the death of cows to poisonous grass. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Sushil KC the chief of the veterinary center, said, "It appears that the grass was poisoned. Besides that, we have not identified any other issues." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The post- mortem shows no other problems. The cows that consumed the poisoned grass died, while those that did not eat it survived, according to KC. </span></span></span></p> ', 'published' => true, 'created' => '2023-09-07', 'modified' => '2023-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '18661', 'image' => '20230907060023_collage (4).jpg', 'article_date' => '2023-09-07 05:58:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18931', 'article_category_id' => '1', 'title' => 'NEPSE Grants Final Membership Licenses to 11 More Broker Companies', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) has approved final membership licenses for 11 new broker companies. This decision was made during the NEPSE Board of Directors meeting held on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">September 6: The Nepal Stock Exchange (NEPSE) has approved final membership licenses for 11 new broker companies. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> This decision was made during the NEPSE Board of Directors meeting held on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The companies that have received licenses include Garima Securities Limited, Pahi Investment Pvt. Ltd, Indira Securities Pvt. Ltd, NMB Securities Ltd and Akash Bhairav Securities Ltd.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Similarly, Sanima Securities Ltd, Milky Way Share Broker Company Ltd, Stochastic Securities Ltd, S.P.S.A Securities Ltd, and Bluechip Securities Ltd also received the final membership licenses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The licenses were granted after the NEPSE officials assessed that these companies met the necessary infrastructural requirements. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With this, the total number of companies receiving the final licenses from the Securities Board of Nepal (SEBON) has reached 37. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Initially, out of the 46 applicant companies, 43 had received preliminary licenses or letters of intent (LOI) from SEBON in three different phases.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18660', 'image' => '20230906021205_collage (3).jpg', 'article_date' => '2023-09-06 14:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
