August 22: Ncell Axiata Limited has launched 4G service in…
August 22: Ncell Axiata Limited has launched 4G service in…
August 22: A day after India increased the customs duty on export of onions, the price of onions skyrocketed in the Nepali market due to…
August 22: The country has recorded 92 percent paddy plantation as of August 18 this…
August 22: Political parties in the Federal Parliament have agreed to draft a term of reference to form a committee to probe the recent gold smuggling…
August 22: Acting Chief Justice Bishwambhar Prasad Shrestha has been appointed the Chief Justice (CJ) of the Supreme…
On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229…
The gold seized from smugglers arriving from Hong Kong, concealed within a motorcycle's brake shoe, has been determined to have a purity level of…
August 21: Most of the deaths in Nepal (71 percent) are caused by non-communicable diseases, according to a recent study conducted by a team of…
August 21: The government’s expenditure has increased slightly in the first month of the current fiscal year while the income has declined compared to the corresponding period of the last fiscal…
August 21: Due to the recent economic slowdown in the country, a large number of industrialists and businessmen of Chitwan have started to quit their business.…
August: The Kathmandu Metropolitan City (KMC) is planning link up the unemployed people to employment by means of the Labour…
August 21: Depositors have started depositing their money in ordinary savings accounts of banks and financial institutions (BFIs) instead of fixed deposit accounts after the BFIs lowered the interest…
August 21: The Nagpanchami festival is being celebrated today by worshiping the Naga or the serpent…
President Ram Chandra Paudel has scheduled an all-party meeting for Tuesday at 8:30 am. The President's press advisor, Kiran Pokhrel, said that President Paudel has invited all political parties to convene at his office on…
In a bid to address food shortages, Humla district headquarters will now receive a significant quantity of foodstuffs through the Kerung point after being sourced from Kathmandu. Approximately 4,000 quintals of essential foodstuffs are set to be transported to Simkot via roadways in Tibet, an autonomous region of…
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' => '18805', 'article_category_id' => '266', 'title' => 'Ncell Launches 4G Service in Jumla', 'sub_title' => '', 'summary' => 'August 22: Ncell Axiata Limited has launched 4G service in Jumla.', '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"">August 22: Ncell Axiata Limited has launched </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"">G service in Jumla. The company said in a statement that it has installed three new </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"">G service towersincluding one each in Chandannath Municipality, Tila Rural Municipality and Tatopani Rural Municipality of Jumla. Along with this, the company said that the reach of Ncell's </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"">G service has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">91.39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total population.</span></span></span></span></p> <p><span style="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 company, areas including the district headquarters Khalanga were already benefiting from access to mobile broadband and voice services. Earlier, the company was providing basic mobile services in Jumla through V-SAT technology.</span></span></span></span></p> <p><span style="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 company says that the new towers installed across the country 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) have contributed to the increase in access to </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"">G services and the expansion of services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Executive Officer and Managing Director of Ncell, Jabbor Kayumov, said that the company's focus is on building an effective telecommunication network to connect customers with the opportunities brought by connectivity and technology. He said that the company has made </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"">G a top priority. "This technology provides both quality voice and high-speed mobile broadband services," 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"">In the last fiscal year alone, Ncell said that it set up </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">338 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">new sites in different parts of the country. Similarly, the company has upgraded </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"">G capacity in more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">districts with nearly </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">450 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">towers.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18533', 'image' => '20230822025523_1692672227.jpg', 'article_date' => '2023-08-22 14:54:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18803', 'article_category_id' => '1', 'title' => 'Black Marketing of Onion Thrives after India Increases Customs Duty on Onion Exports', 'sub_title' => '', 'summary' => 'August 22: A day after India increased the customs duty on export of onions, the price of onions skyrocketed in the Nepali market due to black-marketing.', '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"">August 22: A day after India increased the customs duty on export of onions, the price of onions skyrocketed in the Nepali market due to black-marketing. A monitoring conducted by the Department of Commerce, Supply and Consumer Protection found that the price of onion increased by Rs </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""> per kg in a single day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Department of Commerce has started market monitoring due to the sharp rise in prices of onion stocks that entered Nepal before India hiked the export tax.</span></span></span></span></p> <p><span style="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 General of the Department of Commerce, Gajendra Kumar Thakur, said that they deployed three monitoring teams on Monday and inspected major vegetable markets and retail shops including Kalimati, Balkhu, Ekantakuna in a bid to curb artificial price hike. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thakur said that they monitored the market after receiving complaints that the traders increased the price of old stocks of onion on the pretest that India had increased the tax. Some traders who were found involved in black marketing were prosecuted, according to Thakur.</span></span></span></span></p> <p><span style="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 soon as we got the information about the black marketing and sharp increase in price of onions, the department mobilized three teams throughout the day to monitor the market prices. Three traders were fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> each and two traders were fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> each, while four importers and traders have been asked for documents for further investigation,” said Director General Thakur.</span></span></span></span></p> <p><span style="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 price of onion, which was being sold at the rate of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on Sunday in the Katimati Fruit and Vegetable Market, increased by Rs </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""> per kg and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“But after monitoring by the department, the price of onion in Kalimati vegetable market has decreased by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg,” added Thakur.</span></span></span></span></p> <p><span style="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, during the monitoring conducted at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> different places in the valley, the authorities took immediate action against five, documents were requested for further investigation from four traders, one was instructed to appear in the department within </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""> hours and the rest were given general instructions.</span></span></span></span></p> <p><span style="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 General Thakur also said that the department has been conducting a detailed study on the VAT bill with different prices and the prices sold by importers to retailers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">India's Ministry of Finance on Saturday decided to increase the customs duty on onion exports by up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to the Ministry of Finance of India, the customs duty has been increased due to the increase in the price of onion in the domestic market of India. This tax will be levied till December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, when India banned the export of rice other than basmati, the price of rice in Nepal also increased due to black marketing. According to Director General Thakur, the increase in prices has been controlled to some extent after extensive monitoring by the Department of Commerce.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => 'India, Nepal, onion, export, hike, price, increase, black, market, consumer, protection, department, commerce, supply', 'description' => '', 'sortorder' => '18532', 'image' => '20230822010414_1692625925.jpeg', 'article_date' => '2023-08-22 13:03:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18802', 'article_category_id' => '1', 'title' => '92 Percent Paddy Plantation Completed ', 'sub_title' => '', 'summary' => 'August 22: The country has recorded 92 percent paddy plantation as of August 18 this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The country has recorded 92 percent paddy plantation as of August 18 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock informed that paddy plantation has covered 1.48 million hectares of land across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint Spokesperson at the ministry, Tapendra Bahadur Bohara, said Karnali Province and Sudurpaschim Province each witnessed 99 percent paddy plantation followed by Koshi Province (97 percent), Lumbini Province (95 percent), Gandaki Province (94 percent), Bagamti Province (93 percent) and Madhes Province (82 percent). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the same period last year, paddy plantation was 95 percent, which declined to 92 percent due to delayed rainfall this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders have expressed concerns that Madhes Province, which has fertile land for cultivation, recorded least paddy plantation this year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18531', 'image' => '20230822122508_PemaLama_Banepa_RSS_27_IMG_20210911_160158.jpg', 'article_date' => '2023-08-22 12:24:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18801', 'article_category_id' => '1', 'title' => 'Parties Agree to Resume Parliamentary Business ', 'sub_title' => '', 'summary' => 'August 22: Political parties in the Federal Parliament have agreed to draft a term of reference to form a committee to probe the recent gold smuggling scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: Political parties in the Federal Parliament have agreed to draft a term of reference to form a committee to probe the recent gold smuggling scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the top leaders of the national political parties held at the prime minister’s official residence on Monday decided to form a task force to draft a ToR of the probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee members include Subas Chandra Nembang of CPN (UML), Ramesh Lekhak of Nepali Congress and Hit Raj Pandey of CPN (Maoist Centre). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Rastriya Swatantra Party Rabi Lamichhane told RSS that the parties have agreed to prepare the draft of the ToR by Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal had summoned the meeting of the national parties to seek a solution to end the parliamentary deadlock. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The UML was obstructing the parliament for a long time demanding the formation of a probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NC leader Lekhak shared that the parties agreed to resume the parliamentary business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal, Deputy Prime Minister Narayan Kaji Shrestha, NC President Sher Bahadur Deuba, UML chairman KP Sharma Oli, RSP President Lamichhane and other politicians were present at the meeting. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18530', 'image' => '20230822113623_066A1493.jpg', 'article_date' => '2023-08-22 11:35:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18800', 'article_category_id' => '1', 'title' => 'Shrestha Appointed Chief Justice ', 'sub_title' => '', 'summary' => 'August 22: Acting Chief Justice Bishwambhar Prasad Shrestha has been appointed the Chief Justice (CJ) of the Supreme Court. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: Acting Chief Justice Bishwambhar Prasad Shrestha has been appointed the Chief Justice (CJ) of the Supreme Court. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel appointed Shrestha as the CJ on Monday as per the Article 129 (2) of the Constitution of Nepal at the recommendation of the Constitutional Council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on Monday, the parliamentary hearings committee had approved Shrestha's name as the CJ unopposed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Born on October 16, 1959 in Doti district of Sudurpaschim Province, Shrestha started his career as a Section Officer in 1984. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18529', 'image' => '20230822112308_Supreme Court.jpg', 'article_date' => '2023-08-22 11:22:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18799', 'article_category_id' => '251', 'title' => 'Why is the NEPSE Index on a Downward Trend?', 'sub_title' => '', 'summary' => 'On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 22: On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that the NRB would ease its regulations concerning the stock market, which had been experiencing a bearish trend for the past two years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They expected that the central bank would decrease the risk weightage for loans against shares from 150 percent to 100 percent. Additionally, they anticipated the removal of the Rs 120 million cap imposed on share loans backed by securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to these expectations, the Nepal Rastra Bank decided not to alter its policies regarding both the risk weightage for share-backed loans and the Rs 120 million limit on margin loans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision disappointed investors. Longtime share investor Surendra Adhikari attributes the downturn in the stock market to the NRB and its Governor Maha Prasad Adhikari.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adhikari accused the Governor of aligning with the main opposition party, CPN-UML, and implementing stringent monetary policies to steer the economy. Moreover, he believes that the Governor holds a negative perspective on Nepal's stock market and its development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Adhikari, the stock market's recovery depends on substantial investments from major investors. The existing Rs 120 million loan limit for securities has created challenges for big investors seeking to borrow money from banks to inject fresh cash into the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investor and market analyst Prem Kumar Oli noted that despite the liquidity in the banking system, banks were hesitant to provide credit to investors. He explained that established investors refrained from borrowing money due to the reluctance of banks and financial institutions to disburse credit promptly.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oli, however, predicted that, despite the ongoing decline, the NEPSE Index would not experience a more severe drop. He advised individuals with surplus funds in the bank to consider purchasing shares at this time.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Interest rates and the stock market have an inverse relationship. When interest rates rise, share prices fall. Bonds become more attractive. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that banks would slash their interest rates for the period from mid-August to mid-September (Bhadra). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to their expectations, majority of the banks increased their rates for the period. They have offered interest rates up to 10.896% on individual fixed deposits for the period from mid-August to mid-September (Bhadra). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the rates increase on deposits, interest rates on loans are expected to go up during this same period. Rate hikes may have prompted investors and traders to exit the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The banking system currently has a liquidity of over Rs 350 billion. Finance Minister Dr. Prakash Sharan Mahat has approved including the local-level budget of approximately 100 billion as deposits. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, even with this liquidity in the market, investors are showing reluctance to take loans. What could be the reason behind this? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to a broker, "The present market is experiencing a downturn, and there's uncertainty about when it will rebound. This uncertainty is making investors hesitant about obtaining loans for long-term investments using borrowed money."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the stock market, the gains achieved in three months are sometimes equivalent to those obtained in three years. Consequently, many are cautious about investing in the declining market using borrowed funds due to the potential for incurring losses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adding to this, the Central Bank has imposed a loan limit of 120 million for individuals seeking loans against shares. Notably, large investors have already hit this threshold.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As the market continues to decline, both small investors and traders find their capital trapped in the market. Brokers point out that they are unable to infuse fresh capital into the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Central Bank, the total loan amount issued against shares experienced a 5% decrease in the fiscal year 2022/2023. Loans exceeding 10 million have seen a 4% reduction, loans ranging from 2.5 to 5 million have dropped by 16%, and loans below 2.5 million have decreased by 14%. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, loans within the 5 to 10 million range have shown an increase of 11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, besides the stock market, various other financial activities have also significantly contracted, contributing to a shortage of new funds in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and brokers share the perspective that the bearish trend in the share market will persist unless regulatory bodies, such as the government and the central bank, shift their policies towards share market. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18528', 'image' => '20230822065539_collage (2).jpg', 'article_date' => '2023-08-22 06:48:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18798', 'article_category_id' => '1', 'title' => 'Purity of Seized Gold 99.9 Per Cent', 'sub_title' => '', 'summary' => 'The gold seized from smugglers arriving from Hong Kong, concealed within a motorcycle's brake shoe, has been determined to have a purity level of 99.9%.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">August 21: The gold seized from smugglers arriving from Hong Kong, concealed within a motorcycle's brake shoe, has been determined to have a purity level of 99.9%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Dr. Dilliram Pokharel, Assistant Spokesperson of NRB, confirmed the gold's high purity. Dr. Pokharel explained, "A purity level of 99.9% signifies that the gold is entirely pure."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> The Department of Mint has completed its examination of the confiscated gold's purity and has shared its findings with relevant authorities, including NRB and the Department of Revenue Investigation (DRI).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Nawaraj Dhungana, Director-General of DRI, acknowledged receipt of the purity information, affirming that the gold is indeed of exceptional quality. The examination report specifies that the gold meets the 24-carat standard.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The confiscated gold, initially found within brake shoes, was processed into gold biscuits on August 15, with a total weight of 60.716 kilograms. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The extraction of gold from the brake shoe was conducted on August 14, revealing a weight of 60.789 kilograms. Notably, the gold's weight decreased by 73 grams during the melting process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">On July 19, Department of Revenue Investigation seized a total of 155 kilograms of brake shoes containing gold in front of the Sinamangal Customs Office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The ongoing investigation into the gold smuggling case is being carried out by the Nepal Police's Central Investigation Bureau (CIB).</span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18527', 'image' => '20230821053228_collage (23).jpg', 'article_date' => '2023-08-21 17:31:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18797', 'article_category_id' => '1', 'title' => '71 Percent of Deaths in Nepal Caused by Non-Communicable Diseases: Study ', 'sub_title' => '', 'summary' => 'August 21: Most of the deaths in Nepal (71 percent) are caused by non-communicable diseases, according to a recent study conducted by a team of doctors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 21: Most of the deaths in Nepal (71 percent) are caused by non-communicable diseases, according to a recent study conducted by a team of doctors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risk non-communicable diseases is lately increasing day by day, pointed out the lead researchers during the launch of the PEN-Plus programme at Damak Hospital in Jhapa with the objective of reducing and managing the risks of non-communicable diseases. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Kathmandu Institute of Child Health (KIOCH) coordinated the programme. On the occasion, KIOCH Chair Prof Dr Bhagawan Koirala presented the data of deaths from non-communicable disease putting the number of deaths at 71 percent. Non-infectious diseases have gone unchecked posing a greater risk to the country’s health sector, he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">When the PEN-Plus programme runs effectively, the mortality rate from non-communicable disease could be significantly dropped in the next five to 10 years, said Koirala, adding, “Providing treatment after early diagnose of diseases can help prevent early death. Health insurance for the poor, and availability of early treatment and medicines can also help.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Rector of the BP Koirala Institute of Health Sciences, Prof Dr Sanjeev Sharma, shared that untimely death of the people could be prevented if PEN-Plus programme is effectively implemented. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Package of Essential NCD Intervention-Plus (PEN-Plus) an integrated care delivery model focused on alleviating the burden of non-communicable diseases (NCDs) by increasing the accessibility and quality of severe and chronic NCD care at first-level hospitals. The programme was initiated by the NCDI Poverty Network, whose co-secretariat is based at Harvard Medical School, USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Sharma expressed commitment of making necessary arrangement for the health examination and treatment of the patients. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Chief of PEN-Plus programme under the Department of Health Services, Phanindra Prasad Baral, mentioned that the programme has been launched as a pilot programme in Damak and Bardiya and it would be expanded to other places. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deputy-Mayor of Damak municipality, Regina Bhattarai, urged neighbouring local bodies to take benefit as the PEN-Plus programme has been launched at Damak Hospital. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Discussion was held among mayor, deputy mayor of Damak Municipality, chiefs and representatives of neighbouring local units regarding test, treatment and medicine of non-communicable diseases such as heart ailments, diabetes, respiratory problem, cancer, heart attack and sickle cell anemia under the PEN-Plus programme. -- RSS</span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18526', 'image' => '20230821033145_health sector.jpg', 'article_date' => '2023-08-21 15:30:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18796', 'article_category_id' => '1', 'title' => 'Govt Spent More Money on Financial Management than Current Expenses in First Month of FY 2023/24', 'sub_title' => '', 'summary' => 'August 21: The government’s expenditure has increased slightly in the first month of the current fiscal year while the income has declined compared to the corresponding period of the last 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"">August 21: The government’s expenditure has increased slightly in the first month of the current fiscal year while the income has declined compared to the corresponding period of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-August of FY 2023/24, the government has collected revenue of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">79.92</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. In the same period of last fiscal year, the government had collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.82</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Government expenditure this year seems to have increased significantly compared to last year. Last year, the government had spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.00 billion in between mid-July and mid-August while the expenditure this year stands at Rs </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"">.43 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The interesting thing is that the government seems to have spent more money on financial management than on current expenditure. </span></span></span></span></p> <p><span style="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 of mid-August, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14.61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of current expenses and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the financial management heading. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government started raising internal debt from mid-July saying that the interest burden would be higher later on. In previous years, there was no practice of taking loans at the beginning of the fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In terms of income, it was difficult for the Department of Customs and the Inland Revenue Department to meet the target in the month of Shrawn (mid-July to mid-August). In the review month, the Department of Customs collected only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32.66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion against the target of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39.71</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department was not able to collect revenue as per the target even in the first month of the last fiscal year. Last year, the department was able to collect only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.19 billion against the target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.60 billion. In mid-July to mid-August of the current fiscal year, the government has collected a little more revenue than last year, but this growth rate is not enough to achieve the overall revenue target. </span></span></span></span></p> <p><span style="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, which collected revenue of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">391</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion last year, has been given a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">627</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To collect revenue according to the target, the department needs a growth rate of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.36</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"">Punya Bikram Khadka, information officer of the Department of Customs, says that the department cannot increase the revenue until there is an increase in imports. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Khadka says that since the revenue collection was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56/57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target in the previous years, this year’s collection of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">82</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent revenue against the target should be considered positive. </span></span></span></span></p> <p><span style="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 Inland Revenue Department (IRD), which had set a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue in mid-July to mid-August, has collected only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Inland Revenue Department, which collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">479</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue last year, has set a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">677</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, it seems that it will be difficult for the department to achieve the target.</span></span></span></span></p> <p><span style="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 director general of the Inland Revenue Department, Dirgha Raj Mainali, says that since the economy is becoming vibrant, the revenue will be collected as per the target in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stating that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">76/77 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of the revenue was collected in the first month of last FY, he said that the department has collected </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">82 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent revenue this year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18525', 'image' => '20230821025054_1683767264.jpg', 'article_date' => '2023-08-21 14:50:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18795', 'article_category_id' => '1', 'title' => 'Entrepreneur of Chitwan Quitting Business En Masse', 'sub_title' => '', 'summary' => 'August 21: Due to the recent economic slowdown in the country, a large number of industrialists and businessmen of Chitwan have started to quit their business. ', '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"">Surya Prasad Adhikari</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 21: Due to the recent economic slowdown in the country, a large number of industrialists and businessmen of Chitwan have started to quit their business. As they could not afford to pay the exorbitant interest, various taxes, rent and other expenses of banks and financial institutions, some industrialists have migrated abroad, while others have abandoned their business and are looking for other alternatives.</span></span></span></span></p> <p><span style="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 lack of market demand, the industries have not been able to run at full capacity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Businessmen in Chitwan say that poultry business, construction industry and fancy shops have been worst affected by the economic slowdown. Most of the entrepreneurs have gone bankrupt due to the impact of the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chunnarayan Shrestha, president of Chitwan Chamber of Commerce and Industry, says that the number of people leaving business and migrating abroad has increased since then. Although industrialists are optimistic, there has been no improvement in business. As a result, some entrepreneurs have started to change their business while some have gone abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that because they could not afford the high interest rate of banks coupled with multiple taxes imposed by the government as well as rent and other operating expenses, people left the business and went to countries like the USA, Australia, Canada, and Japan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> "If there is no improvement in economic and commercial activities, many more businessmen will migrate abroad," said Shrestha. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that there has been a decrease in the sale and consumption of manufactured goods due to the decline in the purchasing power of the consumers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Subsequently, the industries have reached a state where they cannot operate anymore. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“On the one hand, economic activity is slow, and on the other hand, the government's policy is not business-friendly. It is natural for businessmen to migrate abroad and look for alternatives in such a situation. But the government is not serious about its consequences. This will have a serious impact not only on the government's revenue, but also on the economy as a whole,'' says Shrestha. He said that since the government has recently increased the minimum wage, the industry will be affected more.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Raju Poudel, the outgoing president of Chitwan Industry Association, said that since a few months ago, industrialists started migrating abroad, looking for better alternatives. </span></span></span></span></p> <p><span style="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, the economic slowdown has affected the poultry business the most followed by the construction industry. He said that currently the industries in the district are running only at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent capacity.</span></span></span></span></p> <p><span style="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 economic slowdown has also affected retail and small businesses. Shops that used to be crowded for twelve months are often deserted these days. Businessmen say that customers come only sporadically to shops selling clothes, gold and silver, and 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"">Gopal Bhattarai, vice president of Chitwan Chamber of Commerce, said that industrialists from Chitwan have gone abroad and started doing business.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no hope or possibility that the business would improve," he said, "Forget about making a profit, we couldn’t even meet the current expenses. In such a situation, the industrialists were forced to look for other options at home and abroad."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bhattarai said that most of the businessmen are in confusion as to whether to quit or continue their business. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, there are no signs of immediate improvement in the economy. The government's budget, policies and programmes and monetary policy have not addressed the current issues, says Bhattatrai.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18524', 'image' => '20230821014856_20230227041039_economic crisis.jpg', 'article_date' => '2023-08-21 13:46:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18794', 'article_category_id' => '1', 'title' => 'KMC to Link Unemployed People to Jobs through Labour Bank ', 'sub_title' => '', 'summary' => 'August: The Kathmandu Metropolitan City (KMC) is planning link up the unemployed people to employment by means of the Labour Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August: The Kathmandu Metropolitan City (KMC) is planning link up the unemployed people to employment by means of the Labour Bank. Issuing a notice, KMC has urged the unemployed citizens within the metropolis to link up with the Labour Bank. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC stated that the metropolis will operate bank to give continuity to the supply of workforce it requires for social development, infrastructure building, repair and maintenance, heritage preservation, environmental conservation and maintaining the urban system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to KMC, the Labour Bank will also serve as a link for the supply of the workforce registered with the bank with other governmental, non-governmental agencies and private sector organisations. </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"">Operation of the Labour Bank is as a part of the metropolis' Golden Plan that is included in the KMC's annual policies and programmes for the fiscal year 2023-24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice says that the KMC believes that operation of this scheme will increase the access of unemployed labour force to employment opportunities. This will promote a labour culture in the country and help stem to some extent the migration of youth work force to foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">KMC has urged the metropolis denizens who wish to work within the metropolis in the current fiscal year to fill up a designated form and submit it to the Employment Service Centre at the metropolis or the ward where they live in. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has stated that the labourers would be paid on the basis of the approved labour rate while assigning them for part-time or daily wage labour in the current fiscal year. It is said the people from KMC will be given special preference for the employment. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18523', 'image' => '20230821124453_20220717044224_Kathmandu Valley.jpg', 'article_date' => '2023-08-21 12:42:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18793', 'article_category_id' => '1', 'title' => 'Bank Deposits Shift from Term Deposits to Ordinary Savings', 'sub_title' => '', 'summary' => 'August 21: Depositors have started depositing their money in ordinary savings accounts of banks and financial institutions (BFIs) instead of fixed deposit accounts after the BFIs lowered the interest rates.', '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"">August 21: Depositors have started depositing their money in ordinary savings accounts of banks and financial institutions (BFIs) instead of fixed deposit accounts after the BFIs lowered the interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have reduced the interest rates due to ease in liquidity situation in the banking system. As a result, the ratio of fixed deposits has also started to decrease.</span></span></span></span></p> <p><span style="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 fiscal year (FY), banks had increased interest rates to attract deposits due to lack of liquidity. After that, the share of fixed deposits in the bank increased. In the last few months, with the ease in liquidity situation, the share of fixed deposits has started to decrease after the reduction in interest rates.</span></span></span></span></p> <p><span style="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 data of Nepal Rastra Bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total deposits with banks and financial institutions worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.70</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last fiscal year (FY 2022/23) accounted for fixed deposits</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"">In the previous year (FY 2021/22), the share of fixed deposits in banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55.8</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"">Due to lack of liquidity in the last fiscal year, banks provided high interest rates to increase deposits. In order to attract deposits, they collected deposits by introducing schemes up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years with a return of up to </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""> times. As a result, the share of fixed deposits had reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in mid-January last year. In mid-December last year, the interest rate on deposits of commercial banks had reached as high as </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Since the banks have started reducing the interest rates, the share of fixed deposits has started to decrease. Banks had reduced the interest rate on fixed deposits to a single digit since mid-April.</span></span></span></span></p> <p><span style="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 instructions of the central bank, banks are allowed to give a maximum interest rate of </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 more on fixed deposits than the minimum interest rate on ordinary savings. </span></span></span></span></p> <p><span style="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 a provision that the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, except for call deposits, cannot exceed </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. Similarly, there is a provision that banks can give </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""> percentage point more interest on fixed deposits of remittance than on ordinary fixed deposits. Therefore, banks have been stressing on tenure to attract deposits.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last December, the share of fixed deposits reached its highest point with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent while current account was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, savings account </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and others </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Compared to January, the share of fixed deposits decreased in June, while the share of savings and other deposits increased.</span></span></span></span></p> <p><span style="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 interest rate published by the banks for mid-August to mid-September, the interest rate on term deposits has been determined up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10.896 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The banks, which had been applying a uniform interest rate determined by the Nepal Bankers' Association for the past one and a half years, have started to determine interest rates on their own from mid-July.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18522', 'image' => '20230821120247_bankkkkkkk.jpg', 'article_date' => '2023-08-21 12:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18792', 'article_category_id' => '1', 'title' => 'Nagpanchami Festival being Celebrated Today ', 'sub_title' => '', 'summary' => 'August 21: The Nagpanchami festival is being celebrated today by worshiping the Naga or the serpent god.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Nagpanchami festival is being celebrated today by worshiping the Naga or the serpent god, with many pasting pictures of a serpent god on the front door of the house as per the Hindu tradition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This festival is celebrated every year on the fifth day of Shrawan Shukla Paksha (bright half of the waxing moon) as per the lunar calendar. </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"">There is a religious belief that by hanging a picture of a serpent in the house will avoid harm from snakes and scorpions, as well as from the incidents of fire and lightning, says Prof Dr Debmani Bhattarai, a theologian and a member of the Nepal Calendar Determination Committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The practice of worshipping Naga is believed to have started from the Vedic period. According to Vedic beliefs, Naga is considered the king of snakes. Devotees throng the temples of Naga in Kathmandu valley at Nagpokhari, Taudaha and Nagdaha on this day. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18521', 'image' => '20230821105904_MD_Sundarharaicha_095431.jpg', 'article_date' => '2023-08-21 10:57:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18791', 'article_category_id' => '1', 'title' => 'President Calls All-Party Meeting to Open Parliamentary Obstruction', 'sub_title' => '', 'summary' => 'President Ram Chandra Paudel has scheduled an all-party meeting for Tuesday at 8:30 am. The President's press advisor, Kiran Pokhrel, said that President Paudel has invited all political parties to convene at his office on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 20: President Ram Chandra Paudel has scheduled an all-party meeting for Tuesday at 8:30 am. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The President's press advisor, Kiran Pokhrel, said that President Paudel has invited all political parties to convene at his office on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This marks the first instance of President Paudel convening an all-party meeting since assuming office. The objective behind this meeting is to find a resolution to the ongoing parliamentary deadlock. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN UML, has consistently disrupted parliamentary proceedings, insisting on the formation of a high-level probe committee to investigate the gold smuggling scandal. (RSS) </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18520', 'image' => '20230821060125_collage (1).jpg', 'article_date' => '2023-08-21 06:00:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18790', 'article_category_id' => '1', 'title' => 'Humla District to Receive Food Supplies via Kerung Point for Cost Savings', 'sub_title' => '', 'summary' => 'In a bid to address food shortages, Humla district headquarters will now receive a significant quantity of foodstuffs through the Kerung point after being sourced from Kathmandu. Approximately 4,000 quintals of essential foodstuffs are set to be transported to Simkot via roadways in Tibet, an autonomous region of China.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> August 20: In a bid to address food shortages, Humla district headquarters will now receive a significant quantity of foodstuffs through the Kerung point after being sourced from Kathmandu. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 4,000 quintals of essential foodstuffs are set to be transported to Simkot via roadways in Tibet, an autonomous region of China.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Krishna Prasad Adhikari, Chief of Humla Station at Food Management and Trading Company Limited, said that the food supplies have been dispatched to Humla and will be brought in through the Kerung point of the Nepal-China border. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This move comes as a response to Humla's limited food supplies due to reduced flights to the district last month. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On Sunday, a convoy of 40 vehicles departed for Humla, carrying the 4,000 quintals of food, which will reach its destination via the Kerung route to Hilsa.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company responsible for supplying food to Humla has strategically organized the transportation of food via the Tibetan route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> A notable allocation of 1,000 quintals of food grains will be reserved for Namkha Rural Municipality, while the remaining portion will be transported to the Simkot Branch.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Officials have emphasized that transporting food grains via the roadways in Tibet offers cost advantages over air transportation. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The total transportation cost per quintal of food, spanning from Kathmandu to Kerung, Tibet, Hilsa, and finally Simkot, amounts to Rs 7,500. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In contrast, the cost for the same quantity of supplies is Rs 4,800 up to Yalwang of Namkha. Notably, if transported by plane, the cost skyrockets to Rs 15,000 from Nepalgunj and Rs 15,500 from Surkhet per quintal. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18519', 'image' => '20230821054317_collage.jpg', 'article_date' => '2023-08-21 05:41:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '18805', 'article_category_id' => '266', 'title' => 'Ncell Launches 4G Service in Jumla', 'sub_title' => '', 'summary' => 'August 22: Ncell Axiata Limited has launched 4G service in Jumla.', '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"">August 22: Ncell Axiata Limited has launched </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"">G service in Jumla. The company said in a statement that it has installed three new </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"">G service towersincluding one each in Chandannath Municipality, Tila Rural Municipality and Tatopani Rural Municipality of Jumla. Along with this, the company said that the reach of Ncell's </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"">G service has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">91.39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total population.</span></span></span></span></p> <p><span style="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 company, areas including the district headquarters Khalanga were already benefiting from access to mobile broadband and voice services. Earlier, the company was providing basic mobile services in Jumla through V-SAT technology.</span></span></span></span></p> <p><span style="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 company says that the new towers installed across the country 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) have contributed to the increase in access to </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"">G services and the expansion of services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Executive Officer and Managing Director of Ncell, Jabbor Kayumov, said that the company's focus is on building an effective telecommunication network to connect customers with the opportunities brought by connectivity and technology. He said that the company has made </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"">G a top priority. "This technology provides both quality voice and high-speed mobile broadband services," 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"">In the last fiscal year alone, Ncell said that it set up </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">338 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">new sites in different parts of the country. Similarly, the company has upgraded </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"">G capacity in more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">districts with nearly </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">450 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">towers.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18533', 'image' => '20230822025523_1692672227.jpg', 'article_date' => '2023-08-22 14:54:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18803', 'article_category_id' => '1', 'title' => 'Black Marketing of Onion Thrives after India Increases Customs Duty on Onion Exports', 'sub_title' => '', 'summary' => 'August 22: A day after India increased the customs duty on export of onions, the price of onions skyrocketed in the Nepali market due to black-marketing.', '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"">August 22: A day after India increased the customs duty on export of onions, the price of onions skyrocketed in the Nepali market due to black-marketing. A monitoring conducted by the Department of Commerce, Supply and Consumer Protection found that the price of onion increased by Rs </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""> per kg in a single day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Department of Commerce has started market monitoring due to the sharp rise in prices of onion stocks that entered Nepal before India hiked the export tax.</span></span></span></span></p> <p><span style="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 General of the Department of Commerce, Gajendra Kumar Thakur, said that they deployed three monitoring teams on Monday and inspected major vegetable markets and retail shops including Kalimati, Balkhu, Ekantakuna in a bid to curb artificial price hike. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thakur said that they monitored the market after receiving complaints that the traders increased the price of old stocks of onion on the pretest that India had increased the tax. Some traders who were found involved in black marketing were prosecuted, according to Thakur.</span></span></span></span></p> <p><span style="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 soon as we got the information about the black marketing and sharp increase in price of onions, the department mobilized three teams throughout the day to monitor the market prices. Three traders were fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> each and two traders were fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> each, while four importers and traders have been asked for documents for further investigation,” said Director General Thakur.</span></span></span></span></p> <p><span style="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 price of onion, which was being sold at the rate of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on Sunday in the Katimati Fruit and Vegetable Market, increased by Rs </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""> per kg and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“But after monitoring by the department, the price of onion in Kalimati vegetable market has decreased by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg,” added Thakur.</span></span></span></span></p> <p><span style="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, during the monitoring conducted at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> different places in the valley, the authorities took immediate action against five, documents were requested for further investigation from four traders, one was instructed to appear in the department within </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""> hours and the rest were given general instructions.</span></span></span></span></p> <p><span style="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 General Thakur also said that the department has been conducting a detailed study on the VAT bill with different prices and the prices sold by importers to retailers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">India's Ministry of Finance on Saturday decided to increase the customs duty on onion exports by up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to the Ministry of Finance of India, the customs duty has been increased due to the increase in the price of onion in the domestic market of India. This tax will be levied till December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, when India banned the export of rice other than basmati, the price of rice in Nepal also increased due to black marketing. According to Director General Thakur, the increase in prices has been controlled to some extent after extensive monitoring by the Department of Commerce.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => 'India, Nepal, onion, export, hike, price, increase, black, market, consumer, protection, department, commerce, supply', 'description' => '', 'sortorder' => '18532', 'image' => '20230822010414_1692625925.jpeg', 'article_date' => '2023-08-22 13:03:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18802', 'article_category_id' => '1', 'title' => '92 Percent Paddy Plantation Completed ', 'sub_title' => '', 'summary' => 'August 22: The country has recorded 92 percent paddy plantation as of August 18 this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The country has recorded 92 percent paddy plantation as of August 18 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock informed that paddy plantation has covered 1.48 million hectares of land across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint Spokesperson at the ministry, Tapendra Bahadur Bohara, said Karnali Province and Sudurpaschim Province each witnessed 99 percent paddy plantation followed by Koshi Province (97 percent), Lumbini Province (95 percent), Gandaki Province (94 percent), Bagamti Province (93 percent) and Madhes Province (82 percent). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the same period last year, paddy plantation was 95 percent, which declined to 92 percent due to delayed rainfall this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders have expressed concerns that Madhes Province, which has fertile land for cultivation, recorded least paddy plantation this year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18531', 'image' => '20230822122508_PemaLama_Banepa_RSS_27_IMG_20210911_160158.jpg', 'article_date' => '2023-08-22 12:24:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18801', 'article_category_id' => '1', 'title' => 'Parties Agree to Resume Parliamentary Business ', 'sub_title' => '', 'summary' => 'August 22: Political parties in the Federal Parliament have agreed to draft a term of reference to form a committee to probe the recent gold smuggling scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: Political parties in the Federal Parliament have agreed to draft a term of reference to form a committee to probe the recent gold smuggling scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the top leaders of the national political parties held at the prime minister’s official residence on Monday decided to form a task force to draft a ToR of the probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee members include Subas Chandra Nembang of CPN (UML), Ramesh Lekhak of Nepali Congress and Hit Raj Pandey of CPN (Maoist Centre). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Rastriya Swatantra Party Rabi Lamichhane told RSS that the parties have agreed to prepare the draft of the ToR by Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal had summoned the meeting of the national parties to seek a solution to end the parliamentary deadlock. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The UML was obstructing the parliament for a long time demanding the formation of a probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NC leader Lekhak shared that the parties agreed to resume the parliamentary business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal, Deputy Prime Minister Narayan Kaji Shrestha, NC President Sher Bahadur Deuba, UML chairman KP Sharma Oli, RSP President Lamichhane and other politicians were present at the meeting. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18530', 'image' => '20230822113623_066A1493.jpg', 'article_date' => '2023-08-22 11:35:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18800', 'article_category_id' => '1', 'title' => 'Shrestha Appointed Chief Justice ', 'sub_title' => '', 'summary' => 'August 22: Acting Chief Justice Bishwambhar Prasad Shrestha has been appointed the Chief Justice (CJ) of the Supreme Court. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: Acting Chief Justice Bishwambhar Prasad Shrestha has been appointed the Chief Justice (CJ) of the Supreme Court. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel appointed Shrestha as the CJ on Monday as per the Article 129 (2) of the Constitution of Nepal at the recommendation of the Constitutional Council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on Monday, the parliamentary hearings committee had approved Shrestha's name as the CJ unopposed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Born on October 16, 1959 in Doti district of Sudurpaschim Province, Shrestha started his career as a Section Officer in 1984. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18529', 'image' => '20230822112308_Supreme Court.jpg', 'article_date' => '2023-08-22 11:22:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18799', 'article_category_id' => '251', 'title' => 'Why is the NEPSE Index on a Downward Trend?', 'sub_title' => '', 'summary' => 'On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 22: On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that the NRB would ease its regulations concerning the stock market, which had been experiencing a bearish trend for the past two years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They expected that the central bank would decrease the risk weightage for loans against shares from 150 percent to 100 percent. Additionally, they anticipated the removal of the Rs 120 million cap imposed on share loans backed by securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to these expectations, the Nepal Rastra Bank decided not to alter its policies regarding both the risk weightage for share-backed loans and the Rs 120 million limit on margin loans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision disappointed investors. Longtime share investor Surendra Adhikari attributes the downturn in the stock market to the NRB and its Governor Maha Prasad Adhikari.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adhikari accused the Governor of aligning with the main opposition party, CPN-UML, and implementing stringent monetary policies to steer the economy. Moreover, he believes that the Governor holds a negative perspective on Nepal's stock market and its development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Adhikari, the stock market's recovery depends on substantial investments from major investors. The existing Rs 120 million loan limit for securities has created challenges for big investors seeking to borrow money from banks to inject fresh cash into the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investor and market analyst Prem Kumar Oli noted that despite the liquidity in the banking system, banks were hesitant to provide credit to investors. He explained that established investors refrained from borrowing money due to the reluctance of banks and financial institutions to disburse credit promptly.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oli, however, predicted that, despite the ongoing decline, the NEPSE Index would not experience a more severe drop. He advised individuals with surplus funds in the bank to consider purchasing shares at this time.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Interest rates and the stock market have an inverse relationship. When interest rates rise, share prices fall. Bonds become more attractive. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that banks would slash their interest rates for the period from mid-August to mid-September (Bhadra). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to their expectations, majority of the banks increased their rates for the period. They have offered interest rates up to 10.896% on individual fixed deposits for the period from mid-August to mid-September (Bhadra). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the rates increase on deposits, interest rates on loans are expected to go up during this same period. Rate hikes may have prompted investors and traders to exit the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The banking system currently has a liquidity of over Rs 350 billion. Finance Minister Dr. Prakash Sharan Mahat has approved including the local-level budget of approximately 100 billion as deposits. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, even with this liquidity in the market, investors are showing reluctance to take loans. What could be the reason behind this? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to a broker, "The present market is experiencing a downturn, and there's uncertainty about when it will rebound. This uncertainty is making investors hesitant about obtaining loans for long-term investments using borrowed money."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the stock market, the gains achieved in three months are sometimes equivalent to those obtained in three years. Consequently, many are cautious about investing in the declining market using borrowed funds due to the potential for incurring losses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adding to this, the Central Bank has imposed a loan limit of 120 million for individuals seeking loans against shares. Notably, large investors have already hit this threshold.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As the market continues to decline, both small investors and traders find their capital trapped in the market. Brokers point out that they are unable to infuse fresh capital into the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Central Bank, the total loan amount issued against shares experienced a 5% decrease in the fiscal year 2022/2023. Loans exceeding 10 million have seen a 4% reduction, loans ranging from 2.5 to 5 million have dropped by 16%, and loans below 2.5 million have decreased by 14%. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, loans within the 5 to 10 million range have shown an increase of 11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, besides the stock market, various other financial activities have also significantly contracted, contributing to a shortage of new funds in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and brokers share the perspective that the bearish trend in the share market will persist unless regulatory bodies, such as the government and the central bank, shift their policies towards share market. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18528', 'image' => '20230822065539_collage (2).jpg', 'article_date' => '2023-08-22 06:48:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18798', 'article_category_id' => '1', 'title' => 'Purity of Seized Gold 99.9 Per Cent', 'sub_title' => '', 'summary' => 'The gold seized from smugglers arriving from Hong Kong, concealed within a motorcycle's brake shoe, has been determined to have a purity level of 99.9%.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">August 21: The gold seized from smugglers arriving from Hong Kong, concealed within a motorcycle's brake shoe, has been determined to have a purity level of 99.9%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Dr. Dilliram Pokharel, Assistant Spokesperson of NRB, confirmed the gold's high purity. Dr. Pokharel explained, "A purity level of 99.9% signifies that the gold is entirely pure."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> The Department of Mint has completed its examination of the confiscated gold's purity and has shared its findings with relevant authorities, including NRB and the Department of Revenue Investigation (DRI).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Nawaraj Dhungana, Director-General of DRI, acknowledged receipt of the purity information, affirming that the gold is indeed of exceptional quality. The examination report specifies that the gold meets the 24-carat standard.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The confiscated gold, initially found within brake shoes, was processed into gold biscuits on August 15, with a total weight of 60.716 kilograms. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The extraction of gold from the brake shoe was conducted on August 14, revealing a weight of 60.789 kilograms. Notably, the gold's weight decreased by 73 grams during the melting process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">On July 19, Department of Revenue Investigation seized a total of 155 kilograms of brake shoes containing gold in front of the Sinamangal Customs Office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The ongoing investigation into the gold smuggling case is being carried out by the Nepal Police's Central Investigation Bureau (CIB).</span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18527', 'image' => '20230821053228_collage (23).jpg', 'article_date' => '2023-08-21 17:31:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18797', 'article_category_id' => '1', 'title' => '71 Percent of Deaths in Nepal Caused by Non-Communicable Diseases: Study ', 'sub_title' => '', 'summary' => 'August 21: Most of the deaths in Nepal (71 percent) are caused by non-communicable diseases, according to a recent study conducted by a team of doctors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 21: Most of the deaths in Nepal (71 percent) are caused by non-communicable diseases, according to a recent study conducted by a team of doctors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risk non-communicable diseases is lately increasing day by day, pointed out the lead researchers during the launch of the PEN-Plus programme at Damak Hospital in Jhapa with the objective of reducing and managing the risks of non-communicable diseases. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Kathmandu Institute of Child Health (KIOCH) coordinated the programme. On the occasion, KIOCH Chair Prof Dr Bhagawan Koirala presented the data of deaths from non-communicable disease putting the number of deaths at 71 percent. Non-infectious diseases have gone unchecked posing a greater risk to the country’s health sector, he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">When the PEN-Plus programme runs effectively, the mortality rate from non-communicable disease could be significantly dropped in the next five to 10 years, said Koirala, adding, “Providing treatment after early diagnose of diseases can help prevent early death. Health insurance for the poor, and availability of early treatment and medicines can also help.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Rector of the BP Koirala Institute of Health Sciences, Prof Dr Sanjeev Sharma, shared that untimely death of the people could be prevented if PEN-Plus programme is effectively implemented. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Package of Essential NCD Intervention-Plus (PEN-Plus) an integrated care delivery model focused on alleviating the burden of non-communicable diseases (NCDs) by increasing the accessibility and quality of severe and chronic NCD care at first-level hospitals. The programme was initiated by the NCDI Poverty Network, whose co-secretariat is based at Harvard Medical School, USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Sharma expressed commitment of making necessary arrangement for the health examination and treatment of the patients. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Chief of PEN-Plus programme under the Department of Health Services, Phanindra Prasad Baral, mentioned that the programme has been launched as a pilot programme in Damak and Bardiya and it would be expanded to other places. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deputy-Mayor of Damak municipality, Regina Bhattarai, urged neighbouring local bodies to take benefit as the PEN-Plus programme has been launched at Damak Hospital. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Discussion was held among mayor, deputy mayor of Damak Municipality, chiefs and representatives of neighbouring local units regarding test, treatment and medicine of non-communicable diseases such as heart ailments, diabetes, respiratory problem, cancer, heart attack and sickle cell anemia under the PEN-Plus programme. -- RSS</span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18526', 'image' => '20230821033145_health sector.jpg', 'article_date' => '2023-08-21 15:30:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18796', 'article_category_id' => '1', 'title' => 'Govt Spent More Money on Financial Management than Current Expenses in First Month of FY 2023/24', 'sub_title' => '', 'summary' => 'August 21: The government’s expenditure has increased slightly in the first month of the current fiscal year while the income has declined compared to the corresponding period of the last 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"">August 21: The government’s expenditure has increased slightly in the first month of the current fiscal year while the income has declined compared to the corresponding period of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-August of FY 2023/24, the government has collected revenue of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">79.92</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. In the same period of last fiscal year, the government had collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.82</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Government expenditure this year seems to have increased significantly compared to last year. Last year, the government had spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.00 billion in between mid-July and mid-August while the expenditure this year stands at Rs </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"">.43 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The interesting thing is that the government seems to have spent more money on financial management than on current expenditure. </span></span></span></span></p> <p><span style="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 of mid-August, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14.61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of current expenses and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the financial management heading. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government started raising internal debt from mid-July saying that the interest burden would be higher later on. In previous years, there was no practice of taking loans at the beginning of the fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In terms of income, it was difficult for the Department of Customs and the Inland Revenue Department to meet the target in the month of Shrawn (mid-July to mid-August). In the review month, the Department of Customs collected only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32.66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion against the target of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39.71</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department was not able to collect revenue as per the target even in the first month of the last fiscal year. Last year, the department was able to collect only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.19 billion against the target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.60 billion. In mid-July to mid-August of the current fiscal year, the government has collected a little more revenue than last year, but this growth rate is not enough to achieve the overall revenue target. </span></span></span></span></p> <p><span style="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, which collected revenue of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">391</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion last year, has been given a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">627</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To collect revenue according to the target, the department needs a growth rate of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.36</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"">Punya Bikram Khadka, information officer of the Department of Customs, says that the department cannot increase the revenue until there is an increase in imports. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Khadka says that since the revenue collection was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56/57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target in the previous years, this year’s collection of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">82</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent revenue against the target should be considered positive. </span></span></span></span></p> <p><span style="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 Inland Revenue Department (IRD), which had set a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue in mid-July to mid-August, has collected only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Inland Revenue Department, which collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">479</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue last year, has set a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">677</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, it seems that it will be difficult for the department to achieve the target.</span></span></span></span></p> <p><span style="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 director general of the Inland Revenue Department, Dirgha Raj Mainali, says that since the economy is becoming vibrant, the revenue will be collected as per the target in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stating that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">76/77 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of the revenue was collected in the first month of last FY, he said that the department has collected </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">82 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent revenue this year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18525', 'image' => '20230821025054_1683767264.jpg', 'article_date' => '2023-08-21 14:50:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18795', 'article_category_id' => '1', 'title' => 'Entrepreneur of Chitwan Quitting Business En Masse', 'sub_title' => '', 'summary' => 'August 21: Due to the recent economic slowdown in the country, a large number of industrialists and businessmen of Chitwan have started to quit their business. ', '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"">Surya Prasad Adhikari</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 21: Due to the recent economic slowdown in the country, a large number of industrialists and businessmen of Chitwan have started to quit their business. As they could not afford to pay the exorbitant interest, various taxes, rent and other expenses of banks and financial institutions, some industrialists have migrated abroad, while others have abandoned their business and are looking for other alternatives.</span></span></span></span></p> <p><span style="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 lack of market demand, the industries have not been able to run at full capacity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Businessmen in Chitwan say that poultry business, construction industry and fancy shops have been worst affected by the economic slowdown. Most of the entrepreneurs have gone bankrupt due to the impact of the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chunnarayan Shrestha, president of Chitwan Chamber of Commerce and Industry, says that the number of people leaving business and migrating abroad has increased since then. Although industrialists are optimistic, there has been no improvement in business. As a result, some entrepreneurs have started to change their business while some have gone abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that because they could not afford the high interest rate of banks coupled with multiple taxes imposed by the government as well as rent and other operating expenses, people left the business and went to countries like the USA, Australia, Canada, and Japan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> "If there is no improvement in economic and commercial activities, many more businessmen will migrate abroad," said Shrestha. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that there has been a decrease in the sale and consumption of manufactured goods due to the decline in the purchasing power of the consumers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Subsequently, the industries have reached a state where they cannot operate anymore. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“On the one hand, economic activity is slow, and on the other hand, the government's policy is not business-friendly. It is natural for businessmen to migrate abroad and look for alternatives in such a situation. But the government is not serious about its consequences. This will have a serious impact not only on the government's revenue, but also on the economy as a whole,'' says Shrestha. He said that since the government has recently increased the minimum wage, the industry will be affected more.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Raju Poudel, the outgoing president of Chitwan Industry Association, said that since a few months ago, industrialists started migrating abroad, looking for better alternatives. </span></span></span></span></p> <p><span style="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, the economic slowdown has affected the poultry business the most followed by the construction industry. He said that currently the industries in the district are running only at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent capacity.</span></span></span></span></p> <p><span style="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 economic slowdown has also affected retail and small businesses. Shops that used to be crowded for twelve months are often deserted these days. Businessmen say that customers come only sporadically to shops selling clothes, gold and silver, and 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"">Gopal Bhattarai, vice president of Chitwan Chamber of Commerce, said that industrialists from Chitwan have gone abroad and started doing business.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no hope or possibility that the business would improve," he said, "Forget about making a profit, we couldn’t even meet the current expenses. In such a situation, the industrialists were forced to look for other options at home and abroad."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bhattarai said that most of the businessmen are in confusion as to whether to quit or continue their business. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, there are no signs of immediate improvement in the economy. The government's budget, policies and programmes and monetary policy have not addressed the current issues, says Bhattatrai.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18524', 'image' => '20230821014856_20230227041039_economic crisis.jpg', 'article_date' => '2023-08-21 13:46:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18794', 'article_category_id' => '1', 'title' => 'KMC to Link Unemployed People to Jobs through Labour Bank ', 'sub_title' => '', 'summary' => 'August: The Kathmandu Metropolitan City (KMC) is planning link up the unemployed people to employment by means of the Labour Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August: The Kathmandu Metropolitan City (KMC) is planning link up the unemployed people to employment by means of the Labour Bank. Issuing a notice, KMC has urged the unemployed citizens within the metropolis to link up with the Labour Bank. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC stated that the metropolis will operate bank to give continuity to the supply of workforce it requires for social development, infrastructure building, repair and maintenance, heritage preservation, environmental conservation and maintaining the urban system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to KMC, the Labour Bank will also serve as a link for the supply of the workforce registered with the bank with other governmental, non-governmental agencies and private sector organisations. </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"">Operation of the Labour Bank is as a part of the metropolis' Golden Plan that is included in the KMC's annual policies and programmes for the fiscal year 2023-24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice says that the KMC believes that operation of this scheme will increase the access of unemployed labour force to employment opportunities. This will promote a labour culture in the country and help stem to some extent the migration of youth work force to foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">KMC has urged the metropolis denizens who wish to work within the metropolis in the current fiscal year to fill up a designated form and submit it to the Employment Service Centre at the metropolis or the ward where they live in. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has stated that the labourers would be paid on the basis of the approved labour rate while assigning them for part-time or daily wage labour in the current fiscal year. It is said the people from KMC will be given special preference for the employment. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18523', 'image' => '20230821124453_20220717044224_Kathmandu Valley.jpg', 'article_date' => '2023-08-21 12:42:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18793', 'article_category_id' => '1', 'title' => 'Bank Deposits Shift from Term Deposits to Ordinary Savings', 'sub_title' => '', 'summary' => 'August 21: Depositors have started depositing their money in ordinary savings accounts of banks and financial institutions (BFIs) instead of fixed deposit accounts after the BFIs lowered the interest rates.', '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"">August 21: Depositors have started depositing their money in ordinary savings accounts of banks and financial institutions (BFIs) instead of fixed deposit accounts after the BFIs lowered the interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have reduced the interest rates due to ease in liquidity situation in the banking system. As a result, the ratio of fixed deposits has also started to decrease.</span></span></span></span></p> <p><span style="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 fiscal year (FY), banks had increased interest rates to attract deposits due to lack of liquidity. After that, the share of fixed deposits in the bank increased. In the last few months, with the ease in liquidity situation, the share of fixed deposits has started to decrease after the reduction in interest rates.</span></span></span></span></p> <p><span style="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 data of Nepal Rastra Bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total deposits with banks and financial institutions worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.70</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last fiscal year (FY 2022/23) accounted for fixed deposits</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"">In the previous year (FY 2021/22), the share of fixed deposits in banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55.8</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"">Due to lack of liquidity in the last fiscal year, banks provided high interest rates to increase deposits. In order to attract deposits, they collected deposits by introducing schemes up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years with a return of up to </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""> times. As a result, the share of fixed deposits had reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in mid-January last year. In mid-December last year, the interest rate on deposits of commercial banks had reached as high as </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Since the banks have started reducing the interest rates, the share of fixed deposits has started to decrease. Banks had reduced the interest rate on fixed deposits to a single digit since mid-April.</span></span></span></span></p> <p><span style="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 instructions of the central bank, banks are allowed to give a maximum interest rate of </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 more on fixed deposits than the minimum interest rate on ordinary savings. </span></span></span></span></p> <p><span style="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 a provision that the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, except for call deposits, cannot exceed </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. Similarly, there is a provision that banks can give </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""> percentage point more interest on fixed deposits of remittance than on ordinary fixed deposits. Therefore, banks have been stressing on tenure to attract deposits.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last December, the share of fixed deposits reached its highest point with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent while current account was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, savings account </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and others </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Compared to January, the share of fixed deposits decreased in June, while the share of savings and other deposits increased.</span></span></span></span></p> <p><span style="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 interest rate published by the banks for mid-August to mid-September, the interest rate on term deposits has been determined up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10.896 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The banks, which had been applying a uniform interest rate determined by the Nepal Bankers' Association for the past one and a half years, have started to determine interest rates on their own from mid-July.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18522', 'image' => '20230821120247_bankkkkkkk.jpg', 'article_date' => '2023-08-21 12:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18792', 'article_category_id' => '1', 'title' => 'Nagpanchami Festival being Celebrated Today ', 'sub_title' => '', 'summary' => 'August 21: The Nagpanchami festival is being celebrated today by worshiping the Naga or the serpent god.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Nagpanchami festival is being celebrated today by worshiping the Naga or the serpent god, with many pasting pictures of a serpent god on the front door of the house as per the Hindu tradition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This festival is celebrated every year on the fifth day of Shrawan Shukla Paksha (bright half of the waxing moon) as per the lunar calendar. </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"">There is a religious belief that by hanging a picture of a serpent in the house will avoid harm from snakes and scorpions, as well as from the incidents of fire and lightning, says Prof Dr Debmani Bhattarai, a theologian and a member of the Nepal Calendar Determination Committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The practice of worshipping Naga is believed to have started from the Vedic period. According to Vedic beliefs, Naga is considered the king of snakes. Devotees throng the temples of Naga in Kathmandu valley at Nagpokhari, Taudaha and Nagdaha on this day. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18521', 'image' => '20230821105904_MD_Sundarharaicha_095431.jpg', 'article_date' => '2023-08-21 10:57:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18791', 'article_category_id' => '1', 'title' => 'President Calls All-Party Meeting to Open Parliamentary Obstruction', 'sub_title' => '', 'summary' => 'President Ram Chandra Paudel has scheduled an all-party meeting for Tuesday at 8:30 am. The President's press advisor, Kiran Pokhrel, said that President Paudel has invited all political parties to convene at his office on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 20: President Ram Chandra Paudel has scheduled an all-party meeting for Tuesday at 8:30 am. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The President's press advisor, Kiran Pokhrel, said that President Paudel has invited all political parties to convene at his office on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This marks the first instance of President Paudel convening an all-party meeting since assuming office. The objective behind this meeting is to find a resolution to the ongoing parliamentary deadlock. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN UML, has consistently disrupted parliamentary proceedings, insisting on the formation of a high-level probe committee to investigate the gold smuggling scandal. (RSS) </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18520', 'image' => '20230821060125_collage (1).jpg', 'article_date' => '2023-08-21 06:00:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18790', 'article_category_id' => '1', 'title' => 'Humla District to Receive Food Supplies via Kerung Point for Cost Savings', 'sub_title' => '', 'summary' => 'In a bid to address food shortages, Humla district headquarters will now receive a significant quantity of foodstuffs through the Kerung point after being sourced from Kathmandu. Approximately 4,000 quintals of essential foodstuffs are set to be transported to Simkot via roadways in Tibet, an autonomous region of China.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> August 20: In a bid to address food shortages, Humla district headquarters will now receive a significant quantity of foodstuffs through the Kerung point after being sourced from Kathmandu. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 4,000 quintals of essential foodstuffs are set to be transported to Simkot via roadways in Tibet, an autonomous region of China.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Krishna Prasad Adhikari, Chief of Humla Station at Food Management and Trading Company Limited, said that the food supplies have been dispatched to Humla and will be brought in through the Kerung point of the Nepal-China border. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This move comes as a response to Humla's limited food supplies due to reduced flights to the district last month. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On Sunday, a convoy of 40 vehicles departed for Humla, carrying the 4,000 quintals of food, which will reach its destination via the Kerung route to Hilsa.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company responsible for supplying food to Humla has strategically organized the transportation of food via the Tibetan route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> A notable allocation of 1,000 quintals of food grains will be reserved for Namkha Rural Municipality, while the remaining portion will be transported to the Simkot Branch.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Officials have emphasized that transporting food grains via the roadways in Tibet offers cost advantages over air transportation. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The total transportation cost per quintal of food, spanning from Kathmandu to Kerung, Tibet, Hilsa, and finally Simkot, amounts to Rs 7,500. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In contrast, the cost for the same quantity of supplies is Rs 4,800 up to Yalwang of Namkha. Notably, if transported by plane, the cost skyrockets to Rs 15,000 from Nepalgunj and Rs 15,500 from Surkhet per quintal. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18519', 'image' => '20230821054317_collage.jpg', 'article_date' => '2023-08-21 05:41:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '18805', 'article_category_id' => '266', 'title' => 'Ncell Launches 4G Service in Jumla', 'sub_title' => '', 'summary' => 'August 22: Ncell Axiata Limited has launched 4G service in Jumla.', '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"">August 22: Ncell Axiata Limited has launched </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"">G service in Jumla. The company said in a statement that it has installed three new </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"">G service towersincluding one each in Chandannath Municipality, Tila Rural Municipality and Tatopani Rural Municipality of Jumla. Along with this, the company said that the reach of Ncell's </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"">G service has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">91.39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total population.</span></span></span></span></p> <p><span style="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 company, areas including the district headquarters Khalanga were already benefiting from access to mobile broadband and voice services. Earlier, the company was providing basic mobile services in Jumla through V-SAT technology.</span></span></span></span></p> <p><span style="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 company says that the new towers installed across the country 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) have contributed to the increase in access to </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"">G services and the expansion of services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Executive Officer and Managing Director of Ncell, Jabbor Kayumov, said that the company's focus is on building an effective telecommunication network to connect customers with the opportunities brought by connectivity and technology. He said that the company has made </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"">G a top priority. "This technology provides both quality voice and high-speed mobile broadband services," 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"">In the last fiscal year alone, Ncell said that it set up </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">338 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">new sites in different parts of the country. Similarly, the company has upgraded </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"">G capacity in more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">districts with nearly </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">450 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">towers.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18533', 'image' => '20230822025523_1692672227.jpg', 'article_date' => '2023-08-22 14:54:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18803', 'article_category_id' => '1', 'title' => 'Black Marketing of Onion Thrives after India Increases Customs Duty on Onion Exports', 'sub_title' => '', 'summary' => 'August 22: A day after India increased the customs duty on export of onions, the price of onions skyrocketed in the Nepali market due to black-marketing.', '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"">August 22: A day after India increased the customs duty on export of onions, the price of onions skyrocketed in the Nepali market due to black-marketing. A monitoring conducted by the Department of Commerce, Supply and Consumer Protection found that the price of onion increased by Rs </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""> per kg in a single day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Department of Commerce has started market monitoring due to the sharp rise in prices of onion stocks that entered Nepal before India hiked the export tax.</span></span></span></span></p> <p><span style="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 General of the Department of Commerce, Gajendra Kumar Thakur, said that they deployed three monitoring teams on Monday and inspected major vegetable markets and retail shops including Kalimati, Balkhu, Ekantakuna in a bid to curb artificial price hike. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thakur said that they monitored the market after receiving complaints that the traders increased the price of old stocks of onion on the pretest that India had increased the tax. Some traders who were found involved in black marketing were prosecuted, according to Thakur.</span></span></span></span></p> <p><span style="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 soon as we got the information about the black marketing and sharp increase in price of onions, the department mobilized three teams throughout the day to monitor the market prices. Three traders were fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> each and two traders were fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> each, while four importers and traders have been asked for documents for further investigation,” said Director General Thakur.</span></span></span></span></p> <p><span style="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 price of onion, which was being sold at the rate of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on Sunday in the Katimati Fruit and Vegetable Market, increased by Rs </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""> per kg and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“But after monitoring by the department, the price of onion in Kalimati vegetable market has decreased by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg,” added Thakur.</span></span></span></span></p> <p><span style="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, during the monitoring conducted at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> different places in the valley, the authorities took immediate action against five, documents were requested for further investigation from four traders, one was instructed to appear in the department within </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""> hours and the rest were given general instructions.</span></span></span></span></p> <p><span style="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 General Thakur also said that the department has been conducting a detailed study on the VAT bill with different prices and the prices sold by importers to retailers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">India's Ministry of Finance on Saturday decided to increase the customs duty on onion exports by up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to the Ministry of Finance of India, the customs duty has been increased due to the increase in the price of onion in the domestic market of India. This tax will be levied till December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, when India banned the export of rice other than basmati, the price of rice in Nepal also increased due to black marketing. According to Director General Thakur, the increase in prices has been controlled to some extent after extensive monitoring by the Department of Commerce.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => 'India, Nepal, onion, export, hike, price, increase, black, market, consumer, protection, department, commerce, supply', 'description' => '', 'sortorder' => '18532', 'image' => '20230822010414_1692625925.jpeg', 'article_date' => '2023-08-22 13:03:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18802', 'article_category_id' => '1', 'title' => '92 Percent Paddy Plantation Completed ', 'sub_title' => '', 'summary' => 'August 22: The country has recorded 92 percent paddy plantation as of August 18 this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The country has recorded 92 percent paddy plantation as of August 18 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock informed that paddy plantation has covered 1.48 million hectares of land across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint Spokesperson at the ministry, Tapendra Bahadur Bohara, said Karnali Province and Sudurpaschim Province each witnessed 99 percent paddy plantation followed by Koshi Province (97 percent), Lumbini Province (95 percent), Gandaki Province (94 percent), Bagamti Province (93 percent) and Madhes Province (82 percent). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the same period last year, paddy plantation was 95 percent, which declined to 92 percent due to delayed rainfall this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders have expressed concerns that Madhes Province, which has fertile land for cultivation, recorded least paddy plantation this year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18531', 'image' => '20230822122508_PemaLama_Banepa_RSS_27_IMG_20210911_160158.jpg', 'article_date' => '2023-08-22 12:24:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18801', 'article_category_id' => '1', 'title' => 'Parties Agree to Resume Parliamentary Business ', 'sub_title' => '', 'summary' => 'August 22: Political parties in the Federal Parliament have agreed to draft a term of reference to form a committee to probe the recent gold smuggling scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: Political parties in the Federal Parliament have agreed to draft a term of reference to form a committee to probe the recent gold smuggling scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the top leaders of the national political parties held at the prime minister’s official residence on Monday decided to form a task force to draft a ToR of the probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee members include Subas Chandra Nembang of CPN (UML), Ramesh Lekhak of Nepali Congress and Hit Raj Pandey of CPN (Maoist Centre). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Rastriya Swatantra Party Rabi Lamichhane told RSS that the parties have agreed to prepare the draft of the ToR by Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal had summoned the meeting of the national parties to seek a solution to end the parliamentary deadlock. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The UML was obstructing the parliament for a long time demanding the formation of a probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NC leader Lekhak shared that the parties agreed to resume the parliamentary business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal, Deputy Prime Minister Narayan Kaji Shrestha, NC President Sher Bahadur Deuba, UML chairman KP Sharma Oli, RSP President Lamichhane and other politicians were present at the meeting. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18530', 'image' => '20230822113623_066A1493.jpg', 'article_date' => '2023-08-22 11:35:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18800', 'article_category_id' => '1', 'title' => 'Shrestha Appointed Chief Justice ', 'sub_title' => '', 'summary' => 'August 22: Acting Chief Justice Bishwambhar Prasad Shrestha has been appointed the Chief Justice (CJ) of the Supreme Court. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: Acting Chief Justice Bishwambhar Prasad Shrestha has been appointed the Chief Justice (CJ) of the Supreme Court. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel appointed Shrestha as the CJ on Monday as per the Article 129 (2) of the Constitution of Nepal at the recommendation of the Constitutional Council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on Monday, the parliamentary hearings committee had approved Shrestha's name as the CJ unopposed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Born on October 16, 1959 in Doti district of Sudurpaschim Province, Shrestha started his career as a Section Officer in 1984. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18529', 'image' => '20230822112308_Supreme Court.jpg', 'article_date' => '2023-08-22 11:22:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18799', 'article_category_id' => '251', 'title' => 'Why is the NEPSE Index on a Downward Trend?', 'sub_title' => '', 'summary' => 'On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 22: On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that the NRB would ease its regulations concerning the stock market, which had been experiencing a bearish trend for the past two years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They expected that the central bank would decrease the risk weightage for loans against shares from 150 percent to 100 percent. Additionally, they anticipated the removal of the Rs 120 million cap imposed on share loans backed by securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to these expectations, the Nepal Rastra Bank decided not to alter its policies regarding both the risk weightage for share-backed loans and the Rs 120 million limit on margin loans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision disappointed investors. Longtime share investor Surendra Adhikari attributes the downturn in the stock market to the NRB and its Governor Maha Prasad Adhikari.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adhikari accused the Governor of aligning with the main opposition party, CPN-UML, and implementing stringent monetary policies to steer the economy. Moreover, he believes that the Governor holds a negative perspective on Nepal's stock market and its development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Adhikari, the stock market's recovery depends on substantial investments from major investors. The existing Rs 120 million loan limit for securities has created challenges for big investors seeking to borrow money from banks to inject fresh cash into the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investor and market analyst Prem Kumar Oli noted that despite the liquidity in the banking system, banks were hesitant to provide credit to investors. He explained that established investors refrained from borrowing money due to the reluctance of banks and financial institutions to disburse credit promptly.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oli, however, predicted that, despite the ongoing decline, the NEPSE Index would not experience a more severe drop. He advised individuals with surplus funds in the bank to consider purchasing shares at this time.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Interest rates and the stock market have an inverse relationship. When interest rates rise, share prices fall. Bonds become more attractive. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that banks would slash their interest rates for the period from mid-August to mid-September (Bhadra). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to their expectations, majority of the banks increased their rates for the period. They have offered interest rates up to 10.896% on individual fixed deposits for the period from mid-August to mid-September (Bhadra). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the rates increase on deposits, interest rates on loans are expected to go up during this same period. Rate hikes may have prompted investors and traders to exit the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The banking system currently has a liquidity of over Rs 350 billion. Finance Minister Dr. Prakash Sharan Mahat has approved including the local-level budget of approximately 100 billion as deposits. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, even with this liquidity in the market, investors are showing reluctance to take loans. What could be the reason behind this? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to a broker, "The present market is experiencing a downturn, and there's uncertainty about when it will rebound. This uncertainty is making investors hesitant about obtaining loans for long-term investments using borrowed money."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the stock market, the gains achieved in three months are sometimes equivalent to those obtained in three years. Consequently, many are cautious about investing in the declining market using borrowed funds due to the potential for incurring losses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adding to this, the Central Bank has imposed a loan limit of 120 million for individuals seeking loans against shares. Notably, large investors have already hit this threshold.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As the market continues to decline, both small investors and traders find their capital trapped in the market. Brokers point out that they are unable to infuse fresh capital into the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Central Bank, the total loan amount issued against shares experienced a 5% decrease in the fiscal year 2022/2023. Loans exceeding 10 million have seen a 4% reduction, loans ranging from 2.5 to 5 million have dropped by 16%, and loans below 2.5 million have decreased by 14%. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, loans within the 5 to 10 million range have shown an increase of 11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, besides the stock market, various other financial activities have also significantly contracted, contributing to a shortage of new funds in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and brokers share the perspective that the bearish trend in the share market will persist unless regulatory bodies, such as the government and the central bank, shift their policies towards share market. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18528', 'image' => '20230822065539_collage (2).jpg', 'article_date' => '2023-08-22 06:48:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18798', 'article_category_id' => '1', 'title' => 'Purity of Seized Gold 99.9 Per Cent', 'sub_title' => '', 'summary' => 'The gold seized from smugglers arriving from Hong Kong, concealed within a motorcycle's brake shoe, has been determined to have a purity level of 99.9%.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">August 21: The gold seized from smugglers arriving from Hong Kong, concealed within a motorcycle's brake shoe, has been determined to have a purity level of 99.9%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Dr. Dilliram Pokharel, Assistant Spokesperson of NRB, confirmed the gold's high purity. Dr. Pokharel explained, "A purity level of 99.9% signifies that the gold is entirely pure."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> The Department of Mint has completed its examination of the confiscated gold's purity and has shared its findings with relevant authorities, including NRB and the Department of Revenue Investigation (DRI).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Nawaraj Dhungana, Director-General of DRI, acknowledged receipt of the purity information, affirming that the gold is indeed of exceptional quality. The examination report specifies that the gold meets the 24-carat standard.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The confiscated gold, initially found within brake shoes, was processed into gold biscuits on August 15, with a total weight of 60.716 kilograms. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The extraction of gold from the brake shoe was conducted on August 14, revealing a weight of 60.789 kilograms. Notably, the gold's weight decreased by 73 grams during the melting process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">On July 19, Department of Revenue Investigation seized a total of 155 kilograms of brake shoes containing gold in front of the Sinamangal Customs Office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The ongoing investigation into the gold smuggling case is being carried out by the Nepal Police's Central Investigation Bureau (CIB).</span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18527', 'image' => '20230821053228_collage (23).jpg', 'article_date' => '2023-08-21 17:31:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18797', 'article_category_id' => '1', 'title' => '71 Percent of Deaths in Nepal Caused by Non-Communicable Diseases: Study ', 'sub_title' => '', 'summary' => 'August 21: Most of the deaths in Nepal (71 percent) are caused by non-communicable diseases, according to a recent study conducted by a team of doctors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 21: Most of the deaths in Nepal (71 percent) are caused by non-communicable diseases, according to a recent study conducted by a team of doctors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risk non-communicable diseases is lately increasing day by day, pointed out the lead researchers during the launch of the PEN-Plus programme at Damak Hospital in Jhapa with the objective of reducing and managing the risks of non-communicable diseases. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Kathmandu Institute of Child Health (KIOCH) coordinated the programme. On the occasion, KIOCH Chair Prof Dr Bhagawan Koirala presented the data of deaths from non-communicable disease putting the number of deaths at 71 percent. Non-infectious diseases have gone unchecked posing a greater risk to the country’s health sector, he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">When the PEN-Plus programme runs effectively, the mortality rate from non-communicable disease could be significantly dropped in the next five to 10 years, said Koirala, adding, “Providing treatment after early diagnose of diseases can help prevent early death. Health insurance for the poor, and availability of early treatment and medicines can also help.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Rector of the BP Koirala Institute of Health Sciences, Prof Dr Sanjeev Sharma, shared that untimely death of the people could be prevented if PEN-Plus programme is effectively implemented. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Package of Essential NCD Intervention-Plus (PEN-Plus) an integrated care delivery model focused on alleviating the burden of non-communicable diseases (NCDs) by increasing the accessibility and quality of severe and chronic NCD care at first-level hospitals. The programme was initiated by the NCDI Poverty Network, whose co-secretariat is based at Harvard Medical School, USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Sharma expressed commitment of making necessary arrangement for the health examination and treatment of the patients. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Chief of PEN-Plus programme under the Department of Health Services, Phanindra Prasad Baral, mentioned that the programme has been launched as a pilot programme in Damak and Bardiya and it would be expanded to other places. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deputy-Mayor of Damak municipality, Regina Bhattarai, urged neighbouring local bodies to take benefit as the PEN-Plus programme has been launched at Damak Hospital. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Discussion was held among mayor, deputy mayor of Damak Municipality, chiefs and representatives of neighbouring local units regarding test, treatment and medicine of non-communicable diseases such as heart ailments, diabetes, respiratory problem, cancer, heart attack and sickle cell anemia under the PEN-Plus programme. -- RSS</span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18526', 'image' => '20230821033145_health sector.jpg', 'article_date' => '2023-08-21 15:30:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18796', 'article_category_id' => '1', 'title' => 'Govt Spent More Money on Financial Management than Current Expenses in First Month of FY 2023/24', 'sub_title' => '', 'summary' => 'August 21: The government’s expenditure has increased slightly in the first month of the current fiscal year while the income has declined compared to the corresponding period of the last 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"">August 21: The government’s expenditure has increased slightly in the first month of the current fiscal year while the income has declined compared to the corresponding period of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-August of FY 2023/24, the government has collected revenue of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">79.92</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. In the same period of last fiscal year, the government had collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.82</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Government expenditure this year seems to have increased significantly compared to last year. Last year, the government had spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.00 billion in between mid-July and mid-August while the expenditure this year stands at Rs </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"">.43 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The interesting thing is that the government seems to have spent more money on financial management than on current expenditure. </span></span></span></span></p> <p><span style="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 of mid-August, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14.61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of current expenses and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the financial management heading. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government started raising internal debt from mid-July saying that the interest burden would be higher later on. In previous years, there was no practice of taking loans at the beginning of the fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In terms of income, it was difficult for the Department of Customs and the Inland Revenue Department to meet the target in the month of Shrawn (mid-July to mid-August). In the review month, the Department of Customs collected only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32.66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion against the target of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39.71</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department was not able to collect revenue as per the target even in the first month of the last fiscal year. Last year, the department was able to collect only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.19 billion against the target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.60 billion. In mid-July to mid-August of the current fiscal year, the government has collected a little more revenue than last year, but this growth rate is not enough to achieve the overall revenue target. </span></span></span></span></p> <p><span style="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, which collected revenue of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">391</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion last year, has been given a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">627</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To collect revenue according to the target, the department needs a growth rate of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.36</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"">Punya Bikram Khadka, information officer of the Department of Customs, says that the department cannot increase the revenue until there is an increase in imports. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Khadka says that since the revenue collection was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56/57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target in the previous years, this year’s collection of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">82</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent revenue against the target should be considered positive. </span></span></span></span></p> <p><span style="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 Inland Revenue Department (IRD), which had set a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue in mid-July to mid-August, has collected only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Inland Revenue Department, which collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">479</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue last year, has set a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">677</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, it seems that it will be difficult for the department to achieve the target.</span></span></span></span></p> <p><span style="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 director general of the Inland Revenue Department, Dirgha Raj Mainali, says that since the economy is becoming vibrant, the revenue will be collected as per the target in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stating that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">76/77 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of the revenue was collected in the first month of last FY, he said that the department has collected </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">82 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent revenue this year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18525', 'image' => '20230821025054_1683767264.jpg', 'article_date' => '2023-08-21 14:50:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18795', 'article_category_id' => '1', 'title' => 'Entrepreneur of Chitwan Quitting Business En Masse', 'sub_title' => '', 'summary' => 'August 21: Due to the recent economic slowdown in the country, a large number of industrialists and businessmen of Chitwan have started to quit their business. ', '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"">Surya Prasad Adhikari</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 21: Due to the recent economic slowdown in the country, a large number of industrialists and businessmen of Chitwan have started to quit their business. As they could not afford to pay the exorbitant interest, various taxes, rent and other expenses of banks and financial institutions, some industrialists have migrated abroad, while others have abandoned their business and are looking for other alternatives.</span></span></span></span></p> <p><span style="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 lack of market demand, the industries have not been able to run at full capacity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Businessmen in Chitwan say that poultry business, construction industry and fancy shops have been worst affected by the economic slowdown. Most of the entrepreneurs have gone bankrupt due to the impact of the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chunnarayan Shrestha, president of Chitwan Chamber of Commerce and Industry, says that the number of people leaving business and migrating abroad has increased since then. Although industrialists are optimistic, there has been no improvement in business. As a result, some entrepreneurs have started to change their business while some have gone abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that because they could not afford the high interest rate of banks coupled with multiple taxes imposed by the government as well as rent and other operating expenses, people left the business and went to countries like the USA, Australia, Canada, and Japan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> "If there is no improvement in economic and commercial activities, many more businessmen will migrate abroad," said Shrestha. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that there has been a decrease in the sale and consumption of manufactured goods due to the decline in the purchasing power of the consumers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Subsequently, the industries have reached a state where they cannot operate anymore. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“On the one hand, economic activity is slow, and on the other hand, the government's policy is not business-friendly. It is natural for businessmen to migrate abroad and look for alternatives in such a situation. But the government is not serious about its consequences. This will have a serious impact not only on the government's revenue, but also on the economy as a whole,'' says Shrestha. He said that since the government has recently increased the minimum wage, the industry will be affected more.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Raju Poudel, the outgoing president of Chitwan Industry Association, said that since a few months ago, industrialists started migrating abroad, looking for better alternatives. </span></span></span></span></p> <p><span style="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, the economic slowdown has affected the poultry business the most followed by the construction industry. He said that currently the industries in the district are running only at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent capacity.</span></span></span></span></p> <p><span style="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 economic slowdown has also affected retail and small businesses. Shops that used to be crowded for twelve months are often deserted these days. Businessmen say that customers come only sporadically to shops selling clothes, gold and silver, and 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"">Gopal Bhattarai, vice president of Chitwan Chamber of Commerce, said that industrialists from Chitwan have gone abroad and started doing business.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no hope or possibility that the business would improve," he said, "Forget about making a profit, we couldn’t even meet the current expenses. In such a situation, the industrialists were forced to look for other options at home and abroad."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bhattarai said that most of the businessmen are in confusion as to whether to quit or continue their business. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, there are no signs of immediate improvement in the economy. The government's budget, policies and programmes and monetary policy have not addressed the current issues, says Bhattatrai.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18524', 'image' => '20230821014856_20230227041039_economic crisis.jpg', 'article_date' => '2023-08-21 13:46:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18794', 'article_category_id' => '1', 'title' => 'KMC to Link Unemployed People to Jobs through Labour Bank ', 'sub_title' => '', 'summary' => 'August: The Kathmandu Metropolitan City (KMC) is planning link up the unemployed people to employment by means of the Labour Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August: The Kathmandu Metropolitan City (KMC) is planning link up the unemployed people to employment by means of the Labour Bank. Issuing a notice, KMC has urged the unemployed citizens within the metropolis to link up with the Labour Bank. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC stated that the metropolis will operate bank to give continuity to the supply of workforce it requires for social development, infrastructure building, repair and maintenance, heritage preservation, environmental conservation and maintaining the urban system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to KMC, the Labour Bank will also serve as a link for the supply of the workforce registered with the bank with other governmental, non-governmental agencies and private sector organisations. </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"">Operation of the Labour Bank is as a part of the metropolis' Golden Plan that is included in the KMC's annual policies and programmes for the fiscal year 2023-24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice says that the KMC believes that operation of this scheme will increase the access of unemployed labour force to employment opportunities. This will promote a labour culture in the country and help stem to some extent the migration of youth work force to foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">KMC has urged the metropolis denizens who wish to work within the metropolis in the current fiscal year to fill up a designated form and submit it to the Employment Service Centre at the metropolis or the ward where they live in. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has stated that the labourers would be paid on the basis of the approved labour rate while assigning them for part-time or daily wage labour in the current fiscal year. It is said the people from KMC will be given special preference for the employment. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18523', 'image' => '20230821124453_20220717044224_Kathmandu Valley.jpg', 'article_date' => '2023-08-21 12:42:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18793', 'article_category_id' => '1', 'title' => 'Bank Deposits Shift from Term Deposits to Ordinary Savings', 'sub_title' => '', 'summary' => 'August 21: Depositors have started depositing their money in ordinary savings accounts of banks and financial institutions (BFIs) instead of fixed deposit accounts after the BFIs lowered the interest rates.', '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"">August 21: Depositors have started depositing their money in ordinary savings accounts of banks and financial institutions (BFIs) instead of fixed deposit accounts after the BFIs lowered the interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have reduced the interest rates due to ease in liquidity situation in the banking system. As a result, the ratio of fixed deposits has also started to decrease.</span></span></span></span></p> <p><span style="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 fiscal year (FY), banks had increased interest rates to attract deposits due to lack of liquidity. After that, the share of fixed deposits in the bank increased. In the last few months, with the ease in liquidity situation, the share of fixed deposits has started to decrease after the reduction in interest rates.</span></span></span></span></p> <p><span style="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 data of Nepal Rastra Bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total deposits with banks and financial institutions worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.70</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last fiscal year (FY 2022/23) accounted for fixed deposits</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"">In the previous year (FY 2021/22), the share of fixed deposits in banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55.8</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"">Due to lack of liquidity in the last fiscal year, banks provided high interest rates to increase deposits. In order to attract deposits, they collected deposits by introducing schemes up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years with a return of up to </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""> times. As a result, the share of fixed deposits had reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in mid-January last year. In mid-December last year, the interest rate on deposits of commercial banks had reached as high as </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Since the banks have started reducing the interest rates, the share of fixed deposits has started to decrease. Banks had reduced the interest rate on fixed deposits to a single digit since mid-April.</span></span></span></span></p> <p><span style="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 instructions of the central bank, banks are allowed to give a maximum interest rate of </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 more on fixed deposits than the minimum interest rate on ordinary savings. </span></span></span></span></p> <p><span style="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 a provision that the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, except for call deposits, cannot exceed </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. Similarly, there is a provision that banks can give </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""> percentage point more interest on fixed deposits of remittance than on ordinary fixed deposits. Therefore, banks have been stressing on tenure to attract deposits.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last December, the share of fixed deposits reached its highest point with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent while current account was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, savings account </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and others </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Compared to January, the share of fixed deposits decreased in June, while the share of savings and other deposits increased.</span></span></span></span></p> <p><span style="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 interest rate published by the banks for mid-August to mid-September, the interest rate on term deposits has been determined up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10.896 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The banks, which had been applying a uniform interest rate determined by the Nepal Bankers' Association for the past one and a half years, have started to determine interest rates on their own from mid-July.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18522', 'image' => '20230821120247_bankkkkkkk.jpg', 'article_date' => '2023-08-21 12:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18792', 'article_category_id' => '1', 'title' => 'Nagpanchami Festival being Celebrated Today ', 'sub_title' => '', 'summary' => 'August 21: The Nagpanchami festival is being celebrated today by worshiping the Naga or the serpent god.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Nagpanchami festival is being celebrated today by worshiping the Naga or the serpent god, with many pasting pictures of a serpent god on the front door of the house as per the Hindu tradition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This festival is celebrated every year on the fifth day of Shrawan Shukla Paksha (bright half of the waxing moon) as per the lunar calendar. </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"">There is a religious belief that by hanging a picture of a serpent in the house will avoid harm from snakes and scorpions, as well as from the incidents of fire and lightning, says Prof Dr Debmani Bhattarai, a theologian and a member of the Nepal Calendar Determination Committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The practice of worshipping Naga is believed to have started from the Vedic period. According to Vedic beliefs, Naga is considered the king of snakes. Devotees throng the temples of Naga in Kathmandu valley at Nagpokhari, Taudaha and Nagdaha on this day. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18521', 'image' => '20230821105904_MD_Sundarharaicha_095431.jpg', 'article_date' => '2023-08-21 10:57:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18791', 'article_category_id' => '1', 'title' => 'President Calls All-Party Meeting to Open Parliamentary Obstruction', 'sub_title' => '', 'summary' => 'President Ram Chandra Paudel has scheduled an all-party meeting for Tuesday at 8:30 am. The President's press advisor, Kiran Pokhrel, said that President Paudel has invited all political parties to convene at his office on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 20: President Ram Chandra Paudel has scheduled an all-party meeting for Tuesday at 8:30 am. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The President's press advisor, Kiran Pokhrel, said that President Paudel has invited all political parties to convene at his office on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This marks the first instance of President Paudel convening an all-party meeting since assuming office. The objective behind this meeting is to find a resolution to the ongoing parliamentary deadlock. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN UML, has consistently disrupted parliamentary proceedings, insisting on the formation of a high-level probe committee to investigate the gold smuggling scandal. (RSS) </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18520', 'image' => '20230821060125_collage (1).jpg', 'article_date' => '2023-08-21 06:00:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18790', 'article_category_id' => '1', 'title' => 'Humla District to Receive Food Supplies via Kerung Point for Cost Savings', 'sub_title' => '', 'summary' => 'In a bid to address food shortages, Humla district headquarters will now receive a significant quantity of foodstuffs through the Kerung point after being sourced from Kathmandu. Approximately 4,000 quintals of essential foodstuffs are set to be transported to Simkot via roadways in Tibet, an autonomous region of China.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> August 20: In a bid to address food shortages, Humla district headquarters will now receive a significant quantity of foodstuffs through the Kerung point after being sourced from Kathmandu. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 4,000 quintals of essential foodstuffs are set to be transported to Simkot via roadways in Tibet, an autonomous region of China.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Krishna Prasad Adhikari, Chief of Humla Station at Food Management and Trading Company Limited, said that the food supplies have been dispatched to Humla and will be brought in through the Kerung point of the Nepal-China border. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This move comes as a response to Humla's limited food supplies due to reduced flights to the district last month. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On Sunday, a convoy of 40 vehicles departed for Humla, carrying the 4,000 quintals of food, which will reach its destination via the Kerung route to Hilsa.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company responsible for supplying food to Humla has strategically organized the transportation of food via the Tibetan route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> A notable allocation of 1,000 quintals of food grains will be reserved for Namkha Rural Municipality, while the remaining portion will be transported to the Simkot Branch.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Officials have emphasized that transporting food grains via the roadways in Tibet offers cost advantages over air transportation. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The total transportation cost per quintal of food, spanning from Kathmandu to Kerung, Tibet, Hilsa, and finally Simkot, amounts to Rs 7,500. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In contrast, the cost for the same quantity of supplies is Rs 4,800 up to Yalwang of Namkha. Notably, if transported by plane, the cost skyrockets to Rs 15,000 from Nepalgunj and Rs 15,500 from Surkhet per quintal. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18519', 'image' => '20230821054317_collage.jpg', 'article_date' => '2023-08-21 05:41:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The company said in a statement that it has installed three new </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"">G service towersincluding one each in Chandannath Municipality, Tila Rural Municipality and Tatopani Rural Municipality of Jumla. Along with this, the company said that the reach of Ncell's </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"">G service has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">91.39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total population.</span></span></span></span></p> <p><span style="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 company, areas including the district headquarters Khalanga were already benefiting from access to mobile broadband and voice services. Earlier, the company was providing basic mobile services in Jumla through V-SAT technology.</span></span></span></span></p> <p><span style="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 company says that the new towers installed across the country 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) have contributed to the increase in access to </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"">G services and the expansion of services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Executive Officer and Managing Director of Ncell, Jabbor Kayumov, said that the company's focus is on building an effective telecommunication network to connect customers with the opportunities brought by connectivity and technology. He said that the company has made </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"">G a top priority. "This technology provides both quality voice and high-speed mobile broadband services," 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"">In the last fiscal year alone, Ncell said that it set up </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">338 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">new sites in different parts of the country. Similarly, the company has upgraded </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"">G capacity in more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">districts with nearly </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">450 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">towers.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18533', 'image' => '20230822025523_1692672227.jpg', 'article_date' => '2023-08-22 14:54:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18803', 'article_category_id' => '1', 'title' => 'Black Marketing of Onion Thrives after India Increases Customs Duty on Onion Exports', 'sub_title' => '', 'summary' => 'August 22: A day after India increased the customs duty on export of onions, the price of onions skyrocketed in the Nepali market due to black-marketing.', '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"">August 22: A day after India increased the customs duty on export of onions, the price of onions skyrocketed in the Nepali market due to black-marketing. A monitoring conducted by the Department of Commerce, Supply and Consumer Protection found that the price of onion increased by Rs </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""> per kg in a single day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Department of Commerce has started market monitoring due to the sharp rise in prices of onion stocks that entered Nepal before India hiked the export tax.</span></span></span></span></p> <p><span style="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 General of the Department of Commerce, Gajendra Kumar Thakur, said that they deployed three monitoring teams on Monday and inspected major vegetable markets and retail shops including Kalimati, Balkhu, Ekantakuna in a bid to curb artificial price hike. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thakur said that they monitored the market after receiving complaints that the traders increased the price of old stocks of onion on the pretest that India had increased the tax. Some traders who were found involved in black marketing were prosecuted, according to Thakur.</span></span></span></span></p> <p><span style="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 soon as we got the information about the black marketing and sharp increase in price of onions, the department mobilized three teams throughout the day to monitor the market prices. Three traders were fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> each and two traders were fined Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> each, while four importers and traders have been asked for documents for further investigation,” said Director General Thakur.</span></span></span></span></p> <p><span style="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 price of onion, which was being sold at the rate of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on Sunday in the Katimati Fruit and Vegetable Market, increased by Rs </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""> per kg and reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“But after monitoring by the department, the price of onion in Kalimati vegetable market has decreased by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg,” added Thakur.</span></span></span></span></p> <p><span style="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, during the monitoring conducted at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> different places in the valley, the authorities took immediate action against five, documents were requested for further investigation from four traders, one was instructed to appear in the department within </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""> hours and the rest were given general instructions.</span></span></span></span></p> <p><span style="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 General Thakur also said that the department has been conducting a detailed study on the VAT bill with different prices and the prices sold by importers to retailers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">India's Ministry of Finance on Saturday decided to increase the customs duty on onion exports by up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to the Ministry of Finance of India, the customs duty has been increased due to the increase in the price of onion in the domestic market of India. This tax will be levied till December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Recently, when India banned the export of rice other than basmati, the price of rice in Nepal also increased due to black marketing. According to Director General Thakur, the increase in prices has been controlled to some extent after extensive monitoring by the Department of Commerce.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => 'India, Nepal, onion, export, hike, price, increase, black, market, consumer, protection, department, commerce, supply', 'description' => '', 'sortorder' => '18532', 'image' => '20230822010414_1692625925.jpeg', 'article_date' => '2023-08-22 13:03:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18802', 'article_category_id' => '1', 'title' => '92 Percent Paddy Plantation Completed ', 'sub_title' => '', 'summary' => 'August 22: The country has recorded 92 percent paddy plantation as of August 18 this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The country has recorded 92 percent paddy plantation as of August 18 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock informed that paddy plantation has covered 1.48 million hectares of land across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint Spokesperson at the ministry, Tapendra Bahadur Bohara, said Karnali Province and Sudurpaschim Province each witnessed 99 percent paddy plantation followed by Koshi Province (97 percent), Lumbini Province (95 percent), Gandaki Province (94 percent), Bagamti Province (93 percent) and Madhes Province (82 percent). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the same period last year, paddy plantation was 95 percent, which declined to 92 percent due to delayed rainfall this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders have expressed concerns that Madhes Province, which has fertile land for cultivation, recorded least paddy plantation this year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18531', 'image' => '20230822122508_PemaLama_Banepa_RSS_27_IMG_20210911_160158.jpg', 'article_date' => '2023-08-22 12:24:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18801', 'article_category_id' => '1', 'title' => 'Parties Agree to Resume Parliamentary Business ', 'sub_title' => '', 'summary' => 'August 22: Political parties in the Federal Parliament have agreed to draft a term of reference to form a committee to probe the recent gold smuggling scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: Political parties in the Federal Parliament have agreed to draft a term of reference to form a committee to probe the recent gold smuggling scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the top leaders of the national political parties held at the prime minister’s official residence on Monday decided to form a task force to draft a ToR of the probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee members include Subas Chandra Nembang of CPN (UML), Ramesh Lekhak of Nepali Congress and Hit Raj Pandey of CPN (Maoist Centre). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Rastriya Swatantra Party Rabi Lamichhane told RSS that the parties have agreed to prepare the draft of the ToR by Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal had summoned the meeting of the national parties to seek a solution to end the parliamentary deadlock. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The UML was obstructing the parliament for a long time demanding the formation of a probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NC leader Lekhak shared that the parties agreed to resume the parliamentary business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal, Deputy Prime Minister Narayan Kaji Shrestha, NC President Sher Bahadur Deuba, UML chairman KP Sharma Oli, RSP President Lamichhane and other politicians were present at the meeting. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18530', 'image' => '20230822113623_066A1493.jpg', 'article_date' => '2023-08-22 11:35:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18800', 'article_category_id' => '1', 'title' => 'Shrestha Appointed Chief Justice ', 'sub_title' => '', 'summary' => 'August 22: Acting Chief Justice Bishwambhar Prasad Shrestha has been appointed the Chief Justice (CJ) of the Supreme Court. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: Acting Chief Justice Bishwambhar Prasad Shrestha has been appointed the Chief Justice (CJ) of the Supreme Court. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel appointed Shrestha as the CJ on Monday as per the Article 129 (2) of the Constitution of Nepal at the recommendation of the Constitutional Council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on Monday, the parliamentary hearings committee had approved Shrestha's name as the CJ unopposed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Born on October 16, 1959 in Doti district of Sudurpaschim Province, Shrestha started his career as a Section Officer in 1984. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18529', 'image' => '20230822112308_Supreme Court.jpg', 'article_date' => '2023-08-22 11:22:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18799', 'article_category_id' => '251', 'title' => 'Why is the NEPSE Index on a Downward Trend?', 'sub_title' => '', 'summary' => 'On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 22: On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that the NRB would ease its regulations concerning the stock market, which had been experiencing a bearish trend for the past two years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They expected that the central bank would decrease the risk weightage for loans against shares from 150 percent to 100 percent. Additionally, they anticipated the removal of the Rs 120 million cap imposed on share loans backed by securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to these expectations, the Nepal Rastra Bank decided not to alter its policies regarding both the risk weightage for share-backed loans and the Rs 120 million limit on margin loans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision disappointed investors. Longtime share investor Surendra Adhikari attributes the downturn in the stock market to the NRB and its Governor Maha Prasad Adhikari.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adhikari accused the Governor of aligning with the main opposition party, CPN-UML, and implementing stringent monetary policies to steer the economy. Moreover, he believes that the Governor holds a negative perspective on Nepal's stock market and its development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Adhikari, the stock market's recovery depends on substantial investments from major investors. The existing Rs 120 million loan limit for securities has created challenges for big investors seeking to borrow money from banks to inject fresh cash into the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investor and market analyst Prem Kumar Oli noted that despite the liquidity in the banking system, banks were hesitant to provide credit to investors. He explained that established investors refrained from borrowing money due to the reluctance of banks and financial institutions to disburse credit promptly.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oli, however, predicted that, despite the ongoing decline, the NEPSE Index would not experience a more severe drop. He advised individuals with surplus funds in the bank to consider purchasing shares at this time.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Interest rates and the stock market have an inverse relationship. When interest rates rise, share prices fall. Bonds become more attractive. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that banks would slash their interest rates for the period from mid-August to mid-September (Bhadra). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to their expectations, majority of the banks increased their rates for the period. They have offered interest rates up to 10.896% on individual fixed deposits for the period from mid-August to mid-September (Bhadra). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the rates increase on deposits, interest rates on loans are expected to go up during this same period. Rate hikes may have prompted investors and traders to exit the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The banking system currently has a liquidity of over Rs 350 billion. Finance Minister Dr. Prakash Sharan Mahat has approved including the local-level budget of approximately 100 billion as deposits. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, even with this liquidity in the market, investors are showing reluctance to take loans. What could be the reason behind this? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to a broker, "The present market is experiencing a downturn, and there's uncertainty about when it will rebound. This uncertainty is making investors hesitant about obtaining loans for long-term investments using borrowed money."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the stock market, the gains achieved in three months are sometimes equivalent to those obtained in three years. Consequently, many are cautious about investing in the declining market using borrowed funds due to the potential for incurring losses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adding to this, the Central Bank has imposed a loan limit of 120 million for individuals seeking loans against shares. Notably, large investors have already hit this threshold.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As the market continues to decline, both small investors and traders find their capital trapped in the market. Brokers point out that they are unable to infuse fresh capital into the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Central Bank, the total loan amount issued against shares experienced a 5% decrease in the fiscal year 2022/2023. Loans exceeding 10 million have seen a 4% reduction, loans ranging from 2.5 to 5 million have dropped by 16%, and loans below 2.5 million have decreased by 14%. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, loans within the 5 to 10 million range have shown an increase of 11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, besides the stock market, various other financial activities have also significantly contracted, contributing to a shortage of new funds in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and brokers share the perspective that the bearish trend in the share market will persist unless regulatory bodies, such as the government and the central bank, shift their policies towards share market. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18528', 'image' => '20230822065539_collage (2).jpg', 'article_date' => '2023-08-22 06:48:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18798', 'article_category_id' => '1', 'title' => 'Purity of Seized Gold 99.9 Per Cent', 'sub_title' => '', 'summary' => 'The gold seized from smugglers arriving from Hong Kong, concealed within a motorcycle's brake shoe, has been determined to have a purity level of 99.9%.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">August 21: The gold seized from smugglers arriving from Hong Kong, concealed within a motorcycle's brake shoe, has been determined to have a purity level of 99.9%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Dr. Dilliram Pokharel, Assistant Spokesperson of NRB, confirmed the gold's high purity. Dr. Pokharel explained, "A purity level of 99.9% signifies that the gold is entirely pure."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"> The Department of Mint has completed its examination of the confiscated gold's purity and has shared its findings with relevant authorities, including NRB and the Department of Revenue Investigation (DRI).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Nawaraj Dhungana, Director-General of DRI, acknowledged receipt of the purity information, affirming that the gold is indeed of exceptional quality. The examination report specifies that the gold meets the 24-carat standard.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The confiscated gold, initially found within brake shoes, was processed into gold biscuits on August 15, with a total weight of 60.716 kilograms. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The extraction of gold from the brake shoe was conducted on August 14, revealing a weight of 60.789 kilograms. Notably, the gold's weight decreased by 73 grams during the melting process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">On July 19, Department of Revenue Investigation seized a total of 155 kilograms of brake shoes containing gold in front of the Sinamangal Customs Office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The ongoing investigation into the gold smuggling case is being carried out by the Nepal Police's Central Investigation Bureau (CIB).</span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18527', 'image' => '20230821053228_collage (23).jpg', 'article_date' => '2023-08-21 17:31:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18797', 'article_category_id' => '1', 'title' => '71 Percent of Deaths in Nepal Caused by Non-Communicable Diseases: Study ', 'sub_title' => '', 'summary' => 'August 21: Most of the deaths in Nepal (71 percent) are caused by non-communicable diseases, according to a recent study conducted by a team of doctors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 21: Most of the deaths in Nepal (71 percent) are caused by non-communicable diseases, according to a recent study conducted by a team of doctors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risk non-communicable diseases is lately increasing day by day, pointed out the lead researchers during the launch of the PEN-Plus programme at Damak Hospital in Jhapa with the objective of reducing and managing the risks of non-communicable diseases. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Kathmandu Institute of Child Health (KIOCH) coordinated the programme. On the occasion, KIOCH Chair Prof Dr Bhagawan Koirala presented the data of deaths from non-communicable disease putting the number of deaths at 71 percent. Non-infectious diseases have gone unchecked posing a greater risk to the country’s health sector, he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">When the PEN-Plus programme runs effectively, the mortality rate from non-communicable disease could be significantly dropped in the next five to 10 years, said Koirala, adding, “Providing treatment after early diagnose of diseases can help prevent early death. Health insurance for the poor, and availability of early treatment and medicines can also help.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Rector of the BP Koirala Institute of Health Sciences, Prof Dr Sanjeev Sharma, shared that untimely death of the people could be prevented if PEN-Plus programme is effectively implemented. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Package of Essential NCD Intervention-Plus (PEN-Plus) an integrated care delivery model focused on alleviating the burden of non-communicable diseases (NCDs) by increasing the accessibility and quality of severe and chronic NCD care at first-level hospitals. The programme was initiated by the NCDI Poverty Network, whose co-secretariat is based at Harvard Medical School, USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Sharma expressed commitment of making necessary arrangement for the health examination and treatment of the patients. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Chief of PEN-Plus programme under the Department of Health Services, Phanindra Prasad Baral, mentioned that the programme has been launched as a pilot programme in Damak and Bardiya and it would be expanded to other places. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deputy-Mayor of Damak municipality, Regina Bhattarai, urged neighbouring local bodies to take benefit as the PEN-Plus programme has been launched at Damak Hospital. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Discussion was held among mayor, deputy mayor of Damak Municipality, chiefs and representatives of neighbouring local units regarding test, treatment and medicine of non-communicable diseases such as heart ailments, diabetes, respiratory problem, cancer, heart attack and sickle cell anemia under the PEN-Plus programme. -- RSS</span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18526', 'image' => '20230821033145_health sector.jpg', 'article_date' => '2023-08-21 15:30:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18796', 'article_category_id' => '1', 'title' => 'Govt Spent More Money on Financial Management than Current Expenses in First Month of FY 2023/24', 'sub_title' => '', 'summary' => 'August 21: The government’s expenditure has increased slightly in the first month of the current fiscal year while the income has declined compared to the corresponding period of the last 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"">August 21: The government’s expenditure has increased slightly in the first month of the current fiscal year while the income has declined compared to the corresponding period of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-August of FY 2023/24, the government has collected revenue of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">79.92</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. In the same period of last fiscal year, the government had collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80.82</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Government expenditure this year seems to have increased significantly compared to last year. Last year, the government had spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.00 billion in between mid-July and mid-August while the expenditure this year stands at Rs </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"">.43 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The interesting thing is that the government seems to have spent more money on financial management than on current expenditure. </span></span></span></span></p> <p><span style="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 of mid-August, the government has spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14.61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the heading of current expenses and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.86</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion under the financial management heading. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government started raising internal debt from mid-July saying that the interest burden would be higher later on. In previous years, there was no practice of taking loans at the beginning of the fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In terms of income, it was difficult for the Department of Customs and the Inland Revenue Department to meet the target in the month of Shrawn (mid-July to mid-August). In the review month, the Department of Customs collected only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32.66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion against the target of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39.71</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The department was not able to collect revenue as per the target even in the first month of the last fiscal year. Last year, the department was able to collect only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.19 billion against the target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.60 billion. In mid-July to mid-August of the current fiscal year, the government has collected a little more revenue than last year, but this growth rate is not enough to achieve the overall revenue target. </span></span></span></span></p> <p><span style="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, which collected revenue of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">391</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion last year, has been given a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">627</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To collect revenue according to the target, the department needs a growth rate of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.36</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"">Punya Bikram Khadka, information officer of the Department of Customs, says that the department cannot increase the revenue until there is an increase in imports. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Khadka says that since the revenue collection was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56/57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the target in the previous years, this year’s collection of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">82</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent revenue against the target should be considered positive. </span></span></span></span></p> <p><span style="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 Inland Revenue Department (IRD), which had set a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue in mid-July to mid-August, has collected only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Inland Revenue Department, which collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">479</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in revenue last year, has set a target of collecting Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">677</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, it seems that it will be difficult for the department to achieve the target.</span></span></span></span></p> <p><span style="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 director general of the Inland Revenue Department, Dirgha Raj Mainali, says that since the economy is becoming vibrant, the revenue will be collected as per the target in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stating that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">76/77 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of the revenue was collected in the first month of last FY, he said that the department has collected </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">82 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent revenue this year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18525', 'image' => '20230821025054_1683767264.jpg', 'article_date' => '2023-08-21 14:50:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18795', 'article_category_id' => '1', 'title' => 'Entrepreneur of Chitwan Quitting Business En Masse', 'sub_title' => '', 'summary' => 'August 21: Due to the recent economic slowdown in the country, a large number of industrialists and businessmen of Chitwan have started to quit their business. ', '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"">Surya Prasad Adhikari</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 21: Due to the recent economic slowdown in the country, a large number of industrialists and businessmen of Chitwan have started to quit their business. As they could not afford to pay the exorbitant interest, various taxes, rent and other expenses of banks and financial institutions, some industrialists have migrated abroad, while others have abandoned their business and are looking for other alternatives.</span></span></span></span></p> <p><span style="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 lack of market demand, the industries have not been able to run at full capacity. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Businessmen in Chitwan say that poultry business, construction industry and fancy shops have been worst affected by the economic slowdown. Most of the entrepreneurs have gone bankrupt due to the impact of the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chunnarayan Shrestha, president of Chitwan Chamber of Commerce and Industry, says that the number of people leaving business and migrating abroad has increased since then. Although industrialists are optimistic, there has been no improvement in business. As a result, some entrepreneurs have started to change their business while some have gone abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that because they could not afford the high interest rate of banks coupled with multiple taxes imposed by the government as well as rent and other operating expenses, people left the business and went to countries like the USA, Australia, Canada, and Japan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> "If there is no improvement in economic and commercial activities, many more businessmen will migrate abroad," said Shrestha. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Shrestha said that there has been a decrease in the sale and consumption of manufactured goods due to the decline in the purchasing power of the consumers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Subsequently, the industries have reached a state where they cannot operate anymore. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“On the one hand, economic activity is slow, and on the other hand, the government's policy is not business-friendly. It is natural for businessmen to migrate abroad and look for alternatives in such a situation. But the government is not serious about its consequences. This will have a serious impact not only on the government's revenue, but also on the economy as a whole,'' says Shrestha. He said that since the government has recently increased the minimum wage, the industry will be affected more.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Raju Poudel, the outgoing president of Chitwan Industry Association, said that since a few months ago, industrialists started migrating abroad, looking for better alternatives. </span></span></span></span></p> <p><span style="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, the economic slowdown has affected the poultry business the most followed by the construction industry. He said that currently the industries in the district are running only at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent capacity.</span></span></span></span></p> <p><span style="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 economic slowdown has also affected retail and small businesses. Shops that used to be crowded for twelve months are often deserted these days. Businessmen say that customers come only sporadically to shops selling clothes, gold and silver, and 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"">Gopal Bhattarai, vice president of Chitwan Chamber of Commerce, said that industrialists from Chitwan have gone abroad and started doing business.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no hope or possibility that the business would improve," he said, "Forget about making a profit, we couldn’t even meet the current expenses. In such a situation, the industrialists were forced to look for other options at home and abroad."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bhattarai said that most of the businessmen are in confusion as to whether to quit or continue their business. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, there are no signs of immediate improvement in the economy. The government's budget, policies and programmes and monetary policy have not addressed the current issues, says Bhattatrai.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18524', 'image' => '20230821014856_20230227041039_economic crisis.jpg', 'article_date' => '2023-08-21 13:46:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18794', 'article_category_id' => '1', 'title' => 'KMC to Link Unemployed People to Jobs through Labour Bank ', 'sub_title' => '', 'summary' => 'August: The Kathmandu Metropolitan City (KMC) is planning link up the unemployed people to employment by means of the Labour Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August: The Kathmandu Metropolitan City (KMC) is planning link up the unemployed people to employment by means of the Labour Bank. Issuing a notice, KMC has urged the unemployed citizens within the metropolis to link up with the Labour Bank. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC stated that the metropolis will operate bank to give continuity to the supply of workforce it requires for social development, infrastructure building, repair and maintenance, heritage preservation, environmental conservation and maintaining the urban system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to KMC, the Labour Bank will also serve as a link for the supply of the workforce registered with the bank with other governmental, non-governmental agencies and private sector organisations. </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"">Operation of the Labour Bank is as a part of the metropolis' Golden Plan that is included in the KMC's annual policies and programmes for the fiscal year 2023-24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice says that the KMC believes that operation of this scheme will increase the access of unemployed labour force to employment opportunities. This will promote a labour culture in the country and help stem to some extent the migration of youth work force to foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">KMC has urged the metropolis denizens who wish to work within the metropolis in the current fiscal year to fill up a designated form and submit it to the Employment Service Centre at the metropolis or the ward where they live in. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has stated that the labourers would be paid on the basis of the approved labour rate while assigning them for part-time or daily wage labour in the current fiscal year. It is said the people from KMC will be given special preference for the employment. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18523', 'image' => '20230821124453_20220717044224_Kathmandu Valley.jpg', 'article_date' => '2023-08-21 12:42:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18793', 'article_category_id' => '1', 'title' => 'Bank Deposits Shift from Term Deposits to Ordinary Savings', 'sub_title' => '', 'summary' => 'August 21: Depositors have started depositing their money in ordinary savings accounts of banks and financial institutions (BFIs) instead of fixed deposit accounts after the BFIs lowered the interest rates.', '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"">August 21: Depositors have started depositing their money in ordinary savings accounts of banks and financial institutions (BFIs) instead of fixed deposit accounts after the BFIs lowered the interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have reduced the interest rates due to ease in liquidity situation in the banking system. As a result, the ratio of fixed deposits has also started to decrease.</span></span></span></span></p> <p><span style="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 fiscal year (FY), banks had increased interest rates to attract deposits due to lack of liquidity. After that, the share of fixed deposits in the bank increased. In the last few months, with the ease in liquidity situation, the share of fixed deposits has started to decrease after the reduction in interest rates.</span></span></span></span></p> <p><span style="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 data of Nepal Rastra Bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total deposits with banks and financial institutions worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.70</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last fiscal year (FY 2022/23) accounted for fixed deposits</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"">In the previous year (FY 2021/22), the share of fixed deposits in banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55.8</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"">Due to lack of liquidity in the last fiscal year, banks provided high interest rates to increase deposits. In order to attract deposits, they collected deposits by introducing schemes up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years with a return of up to </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""> times. As a result, the share of fixed deposits had reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in mid-January last year. In mid-December last year, the interest rate on deposits of commercial banks had reached as high as </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Since the banks have started reducing the interest rates, the share of fixed deposits has started to decrease. Banks had reduced the interest rate on fixed deposits to a single digit since mid-April.</span></span></span></span></p> <p><span style="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 instructions of the central bank, banks are allowed to give a maximum interest rate of </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 more on fixed deposits than the minimum interest rate on ordinary savings. </span></span></span></span></p> <p><span style="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 a provision that the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, except for call deposits, cannot exceed </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. Similarly, there is a provision that banks can give </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""> percentage point more interest on fixed deposits of remittance than on ordinary fixed deposits. Therefore, banks have been stressing on tenure to attract deposits.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last December, the share of fixed deposits reached its highest point with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent while current account was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, savings account </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and others </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Compared to January, the share of fixed deposits decreased in June, while the share of savings and other deposits increased.</span></span></span></span></p> <p><span style="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 interest rate published by the banks for mid-August to mid-September, the interest rate on term deposits has been determined up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10.896 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The banks, which had been applying a uniform interest rate determined by the Nepal Bankers' Association for the past one and a half years, have started to determine interest rates on their own from mid-July.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18522', 'image' => '20230821120247_bankkkkkkk.jpg', 'article_date' => '2023-08-21 12:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18792', 'article_category_id' => '1', 'title' => 'Nagpanchami Festival being Celebrated Today ', 'sub_title' => '', 'summary' => 'August 21: The Nagpanchami festival is being celebrated today by worshiping the Naga or the serpent god.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Nagpanchami festival is being celebrated today by worshiping the Naga or the serpent god, with many pasting pictures of a serpent god on the front door of the house as per the Hindu tradition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This festival is celebrated every year on the fifth day of Shrawan Shukla Paksha (bright half of the waxing moon) as per the lunar calendar. </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"">There is a religious belief that by hanging a picture of a serpent in the house will avoid harm from snakes and scorpions, as well as from the incidents of fire and lightning, says Prof Dr Debmani Bhattarai, a theologian and a member of the Nepal Calendar Determination Committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The practice of worshipping Naga is believed to have started from the Vedic period. According to Vedic beliefs, Naga is considered the king of snakes. Devotees throng the temples of Naga in Kathmandu valley at Nagpokhari, Taudaha and Nagdaha on this day. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18521', 'image' => '20230821105904_MD_Sundarharaicha_095431.jpg', 'article_date' => '2023-08-21 10:57:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18791', 'article_category_id' => '1', 'title' => 'President Calls All-Party Meeting to Open Parliamentary Obstruction', 'sub_title' => '', 'summary' => 'President Ram Chandra Paudel has scheduled an all-party meeting for Tuesday at 8:30 am. The President's press advisor, Kiran Pokhrel, said that President Paudel has invited all political parties to convene at his office on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 20: President Ram Chandra Paudel has scheduled an all-party meeting for Tuesday at 8:30 am. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The President's press advisor, Kiran Pokhrel, said that President Paudel has invited all political parties to convene at his office on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This marks the first instance of President Paudel convening an all-party meeting since assuming office. The objective behind this meeting is to find a resolution to the ongoing parliamentary deadlock. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN UML, has consistently disrupted parliamentary proceedings, insisting on the formation of a high-level probe committee to investigate the gold smuggling scandal. (RSS) </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18520', 'image' => '20230821060125_collage (1).jpg', 'article_date' => '2023-08-21 06:00:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18790', 'article_category_id' => '1', 'title' => 'Humla District to Receive Food Supplies via Kerung Point for Cost Savings', 'sub_title' => '', 'summary' => 'In a bid to address food shortages, Humla district headquarters will now receive a significant quantity of foodstuffs through the Kerung point after being sourced from Kathmandu. Approximately 4,000 quintals of essential foodstuffs are set to be transported to Simkot via roadways in Tibet, an autonomous region of China.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> August 20: In a bid to address food shortages, Humla district headquarters will now receive a significant quantity of foodstuffs through the Kerung point after being sourced from Kathmandu. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 4,000 quintals of essential foodstuffs are set to be transported to Simkot via roadways in Tibet, an autonomous region of China.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Krishna Prasad Adhikari, Chief of Humla Station at Food Management and Trading Company Limited, said that the food supplies have been dispatched to Humla and will be brought in through the Kerung point of the Nepal-China border. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This move comes as a response to Humla's limited food supplies due to reduced flights to the district last month. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On Sunday, a convoy of 40 vehicles departed for Humla, carrying the 4,000 quintals of food, which will reach its destination via the Kerung route to Hilsa.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The company responsible for supplying food to Humla has strategically organized the transportation of food via the Tibetan route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> A notable allocation of 1,000 quintals of food grains will be reserved for Namkha Rural Municipality, while the remaining portion will be transported to the Simkot Branch.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Officials have emphasized that transporting food grains via the roadways in Tibet offers cost advantages over air transportation. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The total transportation cost per quintal of food, spanning from Kathmandu to Kerung, Tibet, Hilsa, and finally Simkot, amounts to Rs 7,500. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In contrast, the cost for the same quantity of supplies is Rs 4,800 up to Yalwang of Namkha. Notably, if transported by plane, the cost skyrockets to Rs 15,000 from Nepalgunj and Rs 15,500 from Surkhet per quintal. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-21', 'modified' => '2023-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '18519', 'image' => '20230821054317_collage.jpg', 'article_date' => '2023-08-21 05:41:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
