August 16: The government on Wednesday launched social security scheme for informal sector…
August 16: The government on Wednesday launched social security scheme for informal sector…
August 16: The government is preparing to collect Rs 677 billion revenue under seven different headings in the current fiscal year (FY…
August 16: The 'Cooperative Sector Improvement Suggestion Task Force' is preparing a blueprint to form a second level regulatory body for monitoring…
August 16: The government has amended the detailed project report (DPR) of the Kathmandu-Tarai Fast Track…
August 16: Ncell Axiata Limited has launched the ‘Ncell EPL League’ contest on its Ncell App in which customers can get a chance to win weekly prizes and grand prizes at the end of the English Premier League (EPL)…
August 16: The government and the private sector have expressed conflicting views regarding tax…
August 16: A total of 71 micro, domestic and small-scale industries were shut down in Dhanusha district in the last fiscal year (FY…
The dengue infection has been spreading across the nation. The country has recorded a total of 13,291 cases of dengue in 74 districts, according to Epidemiology and Communicable Disease Control Division. Tragically, the disease has claimed the lives of 10…
August 15: Nepal Oil Corporation (NOC) has increased the prices of petrol and…
August 15: The National Examinations Board (NEB) has published the results of Grade 12 on Tuesday.…
The country has witnessed 87 percent paddy plantation as of August 11 this year. The total paddy plantation marks a decline of seven percent compared to the previous…
The Nepal Stock Exchange (NEPSE) index decreased by 31.80 points, or 1.53 % and settled at 2045.44 points on the third trading of the week,…
August 15: Former industrialists say that this year's budget and monetary policy are not in favour of revitalizing the economy when the country is facing economic…
August 15: The contribution of the agricultural sector to the country's gross domestic product (GDP) seems to be gradually…
August 15: The Department of Industry had called for proposals on March 30 to avail startup loans for emerging enterprises that meet the criteria.…
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He added that this campaign will help the workers in the informal sector who work as long as they can and return home empty-handed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He clarified that since the Constitution of Nepal, built on the foundation of the historical struggle for the establishment of an egalitarian and just society, guarantees the right to social security of the working class as a fundamental right, the implementation of the constitution cannot be carried out unless the rights of the workers who have suffered injustice are established and their right to social security is ensured.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The PM added that the government had launched the social security scheme for Nepali migrant workers in foreign countries as part of the campaign to make all the workers join the social security fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Under this plan, the government is preparing to gradually make all the laborers in the informal sector, estimated to be more than 4 million, participate in the social security program.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that guaranteeing the rights of workers with social security is an essential condition for the establishment of an egalitarian society and a socialist-oriented political and economic system envisioned by the Constitution of Nepal, Prime Minister Dahal said that social security scheme is not just a general concept, but the creation of an environment where citizens can get education, health, employment, opportunities, concessions and respect without discrimination. He said he would.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that the 'Contribution-Based Social Security Act, 2074' should be implemented effectively to make social security sustainable and orderly, he said that the regulatory bodies will be mobilized for the implementation of the Act to ensure that employers and workers who join the fund are not deprived of the benefits of social security based on contributions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Minister for Labor, Employment and Social Security Minister Sharat Singh Bhandari, Chief Secretary Dr Baikuntha Aryal, Joint Labor Coordination Committee Chairman Binod Shrestha among others were present during the programme. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18486', 'image' => '20230816044108_SSF (1).jpg', 'article_date' => '2023-08-16 16:40:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18756', 'article_category_id' => '1', 'title' => 'Government to Collect Taxes worth Rs 677 Billion Under Seven Headings', 'sub_title' => '', 'summary' => 'August 16: The government is preparing to collect Rs 677 billion revenue under seven different headings in the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 16: The government is preparing to collect Rs 677 billion revenue under seven different headings in the current fiscal year (FY 2023/24). According to the Inland Revenue Department (IRD), the amount is being collected under the headings of income tax, value added tax, excise duty, property and lease income tax, interest tax, education service fee and health service 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"">The department is expecting to collect Rs 298.35 billion under the heading of income tax. Similarly, Rs 157.21 billion will be raised under VAT. The department said that around Rs 145.53 billion will be collected under the title of excise duty.</span></span></span></span></p> <p><span style="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 2022/23), the department collected more than Rs 213 billion under the heading of income tax. According to the details presented by the department in the Revenue Management Seminar held on Tuesday, 100 taxpayers contributed more than 52 percent of the total tax in the last fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although there are more than 55,54,000 taxpayers in Nepal, just 100 of them pay more than half of the taxes. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">An analysis of last year's taxpayers and the structure of revenue collection, it appears that Rs 251.73 billion in revenue. According to the department, this is 52.46 percent of the total collected taxes. </span></span></span></span></p> <p><span style="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 year, the department had set a target of collecting Rs 626 billion in revenue, but collected only 76.51 percent of it (Rs 479 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"">Last year according to the department</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last year, a total of 2,991 taxpayers paid Rs 3.74 billion in taxes. This is 78.14 percent of the total taxes collected in the review year. Last year, the top 10 taxpayers paid Rs 1.8 billion in taxes, which is 22.57 percent of the total taxes collected.</span></span></span></span></p> <p><span style="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 revenue officials said that they plan to effectively implement the revenue policies and programs 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"">The IRD will also implement the budget implementation action plan, complete the investigation of fraud and fake bills, identify taxpayers who are not covered by the tax system and bring them under the ambit of 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"">The IRD also pledged to bring electronic transactions under the ambit of taxation. The officials said they are working to identify the growing trend of fake bills and take effective action against them.</span></span></span></span></p> <p><span style="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, revenue officials consider the decision to bring electronic services provided by non-residents to consumers in Nepal under the scope of tax, levying luxury tax, foreign tourism tax and foreign employment service tax as policy reforms.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18485', 'image' => '20230816040519_IRDD.jpg', 'article_date' => '2023-08-16 16:04:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18755', 'article_category_id' => '1', 'title' => 'Government Prepares STI Blueprint to Monitor Cooperatives', 'sub_title' => '', 'summary' => 'August 16: The 'Cooperative Sector Improvement Suggestion Task Force' is preparing a blueprint to form a second level regulatory body for monitoring cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 16: The 'Cooperative Sector Improvement Suggestion Task Force' is preparing a blueprint to form a second level regulatory body for monitoring cooperatives. The task force is mandated to submit suggestions along with the cooperative sector reform plan to the regulatory body. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">A member of the task force informed New Business Age that the term of the task force expired on August 11.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif""> “We prepared a report with suggestions for the reform of the cooperative sector. The submission of the report has been delayed because of the delay in finalizing the Second Tier Institution (STI) framework.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The task force is discussing the options of developing the capacity of the Department of Cooperatives, assigning responsibility to the National Cooperative Development Board or forming a regulator under the Nepal Rastra Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Since the rights of the cooperatives have been transferred to the local level, the task force is in favor of delegating an authorized regulator rather than handing the responsibility to the federal government. After the task force recommends STI, the government will make a law accordingly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government had announced while unveiling the budget for the current fiscal year that it will establish a specialized regulatory body to effectively regulate and supervise the cooperatives dealing in savings and loans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In the new federal system, the right to register and monitor cooperatives has been delegated to the municipality. However, due to the lack of skilled manpower and infrastructure in those agencies, the regulation of cooperatives has become more chaotic. The government does not even have the details of the business of the cooperatives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Due to ineffective regulation of cooperatives, savings in such organizations are at risk. When some cooperatives could not return the savings of their members, the depositors started a movement against the cooperatives. After that, the government on May 6 formed the task force to identify the problems and suggest solutions. The task force was initially given a deadline of 2 months. After the task force was able to submit only the preliminary report on July 11, the deadline was extended by 1 month.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The task force comprises of a member of the National Planning Commission, who overlooks the cooperatives sector, Jayakant Raut, the secretary of the Ministry of Land Management, Cooperatives and Poverty Alleviation, the chairman of the troubled cooperative management committee, the joint secretary of the Ministry of Cooperatives, Finance, representatives from the Women, Children and Senior Citizens and the National Planning Commission, a director of Nepal Rastra Bank, senior police officers of the Central Investigation Bureau of Nepal Police. Chairman of the National Cooperative Federation is also a member of the task force. Similarly, the task force also has two experts and a financial analyst as its members.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government reached an understanding with the victims of the cooperative to address their problems and refund the money of the depositors based on the suggestions of the task force.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18484', 'image' => '20230816030415_Cooperative.jpg', 'article_date' => '2023-08-16 15:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18754', 'article_category_id' => '1', 'title' => 'Govt Revises DPR of Kathmandu-Terai Fast Track, Reduces Cost and Length of the Expressway ', 'sub_title' => '', 'summary' => 'August 16: The government has amended the detailed project report (DPR) of the Kathmandu-Tarai Fast Track (Expressway). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 16: The government has amended the detailed project report (DPR) of the Kathmandu-Tarai Fast Track (Expressway). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Minister for Physical Infrastructure and Transport, Prakash Jwala, the document has undergone revisions in a way that it would result in the reduction of both cost and length for the road project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Tuesday decided to revise the DPR for the expressway. With the revision, the project cost is to decrease by Rs 2 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the amendment, the fast track is estimated to cost Rs 211 billion. The integration of a tunnel in the project contributed to a reduction in the project's overall length and subsequently in its cost as well, said Minister Jwala.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project is being undertaken under the supervision of the Nepalese Army. The project had begun on April 25, 2017 and it has so far reported 25.54 percent progress. The deadline of the project completion is set for mid-April, 2027. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Initially, the project was estimated to cost Rs 213. 09 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18483', 'image' => '20230816021309_20170616052456_fast track nov 21.jpg', 'article_date' => '2023-08-16 14:12:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18753', 'article_category_id' => '266', 'title' => 'Ncell Announces EPL League Contest', 'sub_title' => '', 'summary' => 'August 16: Ncell Axiata Limited has launched the ‘Ncell EPL League’ contest on its Ncell App in which customers can get a chance to win weekly prizes and grand prizes at the end of the English Premier League (EPL) season.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 16: Ncell Axiata Limited has launched the ‘Ncell EPL League’ contest on its Ncell App in which customers can get a chance to win weekly prizes and grand prizes at the end of the English Premier League (EPL) season. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell said in a statement that its customers using the Ncell App can predict the football scorelines on a weekly basis on the fixtures of the ongoing matches of the English Premier League (EPL) season 2023/24. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">To take part in the contest, Ncell App users can simply log in to </span></span><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">the app, go to the hamburger icon on the top right corner of the app, click on the Predict & Win section, register the details, predict, and submit their scores weekly. There will also be a weekly bonus question to collect 10 points and some prizes for answers, added Ncell.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the EPL season, the first prize winner of the contest will get a free Wirefree device with</span></span><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif""> a 250 GB monthly subscription for 12 months, reads the statement. The second prize winner is entitled to get a free Wirefree device with a 250 GB monthly subscription for six months, while the third prize winner will get a Wirefree device with a 250 GB monthly subscription for free for three months. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Ncell, the winners will also be provided with the home jersey of their selected favorite team and club merchandise. This contest will run until the end of the season ie, 19<sup>th</sup> May 2024.</span></span></span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell further said that the weekly prizes and overall winning prizes will be awarded to the participants with the highest scores. In the weekly prizes, five lucky game week winners with the highest scores will get Ncell’s Combo Pack priced at Rs 998 in which they will get nonstop all net voice calls, 2 GB per day data, and 400 all net SMS that are valid for 28 days. </span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The notification of winners will be sent via SMS and in-app notification, added Ncell. In the event of the prediction of the same scores, the winners will be selected based on a lucky draw. The points will be awarded on the basis of the correct winning team (3 points) and correct score lines (5 points). </span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell said that only users above 18 are eligible to take part in the Predict & Win contest and the boxes for predicting the scores will be locked 30 minutes before the first game of the specific game week.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18482', 'image' => '20230816013610_Ncell EPL League.jpg', 'article_date' => '2023-08-16 13:35:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18752', 'article_category_id' => '1', 'title' => 'Government and Private Sector at Odds about Tax Collection ', 'sub_title' => '', 'summary' => 'August 16: The government and the private sector have expressed conflicting views regarding tax collection.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">August 16: The government and the private sector have expressed conflicting views regarding tax collection. The government is of the view that it should increase the tax base while the private sector stakeholders have suggested the government to increase the scope of tax instead of the tax base.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Arjun Prasad Pokharel, secretary at the Ministry of Finance, recently said that the government's revenue collection target for the current fiscal year could be met by increasing the tax base. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Secretary Pokharel expressed such views during the 'Management Seminar 2080' organized by the Inland Revenue Department on Tuesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Speaking on the occasion, Nepal Chamber of Commerce President Rajendra Malla said that the government could meet its revenue collection target if the scope of tax is extended rather than its base.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Stating that a huge number of enterprises and individuals were still out of the ambit of tax, he pointed out the need to bring them under the taxation system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">According to him, 40 percent of goods were being imported through the 'Grey Market'. He stressed that it should be brought under the scope of taxation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Similarly, Anjan Shrestha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), said that taxes in Nepal were higher than other countries in South Asia.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">"The growth rate of revenue is negative as compared to the growth rate of the gross domestic product (GDP)," he said.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Shrestha also expressed concern that there were no signs of improvement in the national economy 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:13.5pt"><span style="font-family:"Arial","sans-serif"">Likewise, Birendra Raj Pandey, vice-chairperson of the Confederation of Nepalese Industries, said that the taxation system of Nepal should focus on manufacturing sector rather than being import-oriented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Secretary Pokharel underscored the need to optimize technology to reduce the cost of revenue collection.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">"The cost of revenue collection has increased. We need to get rid of the manual style of working unlike in the past. We need to optimize technology," said Finance Secretary Pokharel, urging the concerned authorities to emphasize implementation of the new provisions in the Financial Act.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">He also expressed hope that the taxation system in Nepal would improve through systematic development and capacity building of the employees.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18481', 'image' => '20230816114842_taxxxxx.jpg', 'article_date' => '2023-08-16 11:46:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18751', 'article_category_id' => '1', 'title' => '71 Industries Closed in Dhanusha', 'sub_title' => '', 'summary' => 'August 16: A total of 71 micro, domestic and small-scale industries were shut down in Dhanusha district in the last fiscal year (FY 2022/23).', '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 16: A total of 71 micro, domestic and small-scale industries were shut down in Dhanusha district in the last fiscal year (FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">/</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Office of Domestic and Small Industries, Dhanusha, among the closed industries include </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> small-scale industries and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic industries. Hundreds of workers have become unemployed due to the closure of the industry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the office, these industries were closed due to the impact of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, increase in interest rates of banks, and lack of liquidity. Commercial shutters are becoming empty in Janakpurdham after the closure of 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"">Currently, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">536 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">small-scale industries and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">591 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic industries are operating in Dhanusha. Altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">930 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">people have got direct employment from these industries. The office informed that the fixed and current capital of the operating industry is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.55</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18480', 'image' => '20230816110747_1692150431.jpg', 'article_date' => '2023-08-16 11:06:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18750', 'article_category_id' => '1', 'title' => ' Over 13,000 Dengue Cases Confirmed Across the Country; Sunsari Records the Highest', 'sub_title' => '', 'summary' => 'The dengue infection has been spreading across the nation. The country has recorded a total of 13,291 cases of dengue in 74 districts, according to Epidemiology and Communicable Disease Control Division. Tragically, the disease has claimed the lives of 10 individuals.', 'content' => '<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">August 16: The dengue infection has been spreading across the nation. The country has recorded a total of 13,291 cases of dengue in 74 districts, according to Epidemiology and Communicable Disease Control Division. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Tragically, the disease has claimed the lives of 10 individuals.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Rudra Prasad Marasini, the director of the division, has identified two key factors contributing to the rapid expansion of dengue: persistent rainfall and inadequate sanitation practices. In response to the escalating daily case counts, he has issued a strong call for vigilance, urging the public to remain cautious and take appropriate measures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Given the escalating daily incidents of dengue, it is imperative that we adopt preventive measures, including upholding hygiene practices and safeguarding ourselves against mosquito bites," said Director Marasini. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He went on to highlight, "Dengue cases have a tendency to surge notably during the months of Bhadra and Ashoj."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The first instance of dengue case was recorded in Nepal in 2004. In the year 2022, the country had reported a staggering 54,784 confirmed cases, resulting in 88 fatalities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the affected areas, Sunasari District stands out with the highest dengue case count, tallying up to 7,089 infections. Similarly, Morang has reported 1,591 cases, Dhadhing has 1,202 cases, Jhapa has 896 cases, Kaski has 247 cases, and Dhankuta has 236 cases. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Kathmandu has documented 196 cases, Darchula has reported 194 cases, Sankhuwasabha has 156 cases, and Chitwan has confirmed dengue infections in 90 individuals, according to the Epidemiology and Communicable Disease Control Division's data.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The prevalence of dengue infections is highest in Koshi Province, which has seen a staggering 10,182 confirmed cases. Furthermore, Bagmati Province has recorded 1,793 cases, and Gandaki Province has 510 cases.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Sudurpaschim Province has 417 cases, Lumbini Province has 263 cases, Madhes Province has 92 cases, and Karnali Province has reported 36 cases, as per the division’s data.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the wake of surge of dengue cases, the division has issued a series of recommendations to the public: sleep under mosquito nets consistently, wear long sleeves and pants while engaged in outdoor activities, apply mosquito repellent, install mesh screens on windows and doors, and take care to prevent the accumulation of water in open containers, such as tires or pots. </span></span></p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18479', 'image' => '20230816060835_collage (19).jpg', 'article_date' => '2023-08-16 06:06:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18748', 'article_category_id' => '1', 'title' => 'NOC Hikes Prices of Petrol and Diesel', 'sub_title' => '', 'summary' => 'August 15: Nepal Oil Corporation (NOC) has increased the prices of petrol and diesel. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: Nepal Oil Corporation (NOC) has increased the prices of petrol and diesel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Board of Directors of the state-owned oil monopoly on Tuesday increased the price of diesel by Rs 14 per litre and that of petrol by Rs 5 per liter effective from August 16 (Wednesday). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the hike, petrol will now cost Rs 175 per litre while diesel and kerosene each will cost Rs 164.5 per liter, NOC said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NOC decided to increase the prices of petrol and diesel after its supplier, the Indian Oil Cororation (IOC), increased the prices. </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"">Prior to this, the NOC had increased the prices of petroleum products on August 1. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18478', 'image' => '20230815112737_20210824101943_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2023-08-15 23:26:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18749', 'article_category_id' => '1', 'title' => 'NEB Announces Grade 12 Results ', 'sub_title' => '', 'summary' => 'August 15: The National Examinations Board (NEB) has published the results of Grade 12 on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The National Examinations Board (NEB) has published the results of Grade 12 on Tuesday. The exams were held from May 9 to 19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organizing a news conference on Tuesday evening, NEB Chairman Dr Mahashram Sharma said that some 50.09 per cent students were graded in the results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Sharma, the results this year were better compared to the last year by three percentage points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 467,389 students from across the country had participated in the exams held at 1,457 exam centers. According to the board, this year, over 56,000 took the exams for grade improvement. The grade sheet is available if the student secures a minimum of 35 percent marks in theoretical part for each subject. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the board, the results will be accessible through its official website and Nepal Telecom's various platforms. The board has requested the students to visit the its website www.neb.gov.np or Nepal Telecom's website www.neb.ntc.net.np to view the results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the results can be obtained by dialing 1600 or by sending a text to 1601 of Nepal Telecom. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18477', 'image' => '20230815113922_blank - Copy - Copy.jpg', 'article_date' => '2023-08-15 23:32:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18747', 'article_category_id' => '1', 'title' => 'Nepal Records 87% Paddy Plantation; 7 Percent Less than Last year ', 'sub_title' => '', 'summary' => 'The country has witnessed 87 percent paddy plantation as of August 11 this year. The total paddy plantation marks a decline of seven percent compared to the previous year. ', 'content' => '<p><span style="font-size:20px">August 15: The country has witnessed 87 percent paddy plantation as of August 11 this year. The total paddy plantation marks a decline of seven percent compared to the previous year. </span></p> <p><span style="font-size:20px">The Ministry of Agriculture and Livestock Development has reported paddy has been planted in 87% of the total land area. This figure is notably lower than the same period last year.</span></p> <p><span style="font-size:20px">Sabnam Shivakoti, the spokesperson for the Ministry, said that the recorded data until August 11 accounts for paddy plantation on 1.4 million hectares of land, equating to 87%.</span></p> <p><span style="font-size:20px">The decline in paddy plantation for this year is attributed to the delayed monsoon in several provinces, namely Madhes, Bagmati, and Gandaki.</span></p> <p><span style="font-size:20px">The process of rice transplantation will continue until the mid-August (end of Shrawan). Despite the current figures, the Ministry anticipates that the paddy plantation rate will rise to 92-95% by the end of this month.</span></p> <p><span style="font-size:20px">Province-wise, Koshi Province has achieved a paddy plantation rate of 94%, whereas Madhes stands at only 68%. Meanwhile, Gandaki Province has completed 93% of its paddy plantation, Karnali boasts a rate of 98%, Lumbini stands at 93%, and Sudurpaschim claims the highest rate at 99%.</span></p> <p><span style="font-size:20px">Additionally, the Ministry has informed that Nepal has initiated tomato exports to India. A total of 30 metric tonnes of tomatoes have been exported to India through the Kakadbhitta and Bhairahawa border points. (RSS)</span><br /> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18476', 'image' => '20230815051513_collage (14).jpg', 'article_date' => '2023-08-15 17:13:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18746', 'article_category_id' => '1', 'title' => 'NEPSE Sheds 31.80 Points to Close at 2045.44 ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) index decreased by 31.80 points, or 1.53 % and settled at 2045.44 points on the third trading of the week, Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Nepal Stock Exchange (NEPSE) index decreased by 31.80 points, or 1.53 % and settled at 2045.44 points on the third trading of the week, Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The sensitive index decreased by 1.57%, the float index decreased by 1.54%, and the sensitive float index dropped by 12.73% respectively. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The secondary benchmark index is in sideways and traders tend to book their profits as soon the market makes gains of some points. Following the 61 points rise, the NEPSE has witnessed fall of 35 points in the last two days’ trading. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many companies listed in the NEPSE have published their fourth quarterly financial reports. Majority of them have published unsatisfactory report.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Most of the hydropower and production and manufacturing companies have published the reports with losses, discouraging the investors from increasing their purchases.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, a total of 278 scrips exchanged theiri hands through 61,341 transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As many as 5,603,179 shares were traded, amounting to Rs 2.15 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Distillery Limited (HDL) recorded the highest turnover of Rs. 20.55 crores and closed at a market price of Rs. 2,017.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Emerging Nepal Limited (ENL) gained the highest 5.18% to close at Rs. 1,016.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Himalayan Distillery Limited (HDL) lost the highest 7.69% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, only Mutual Fund Index closed in the green zone while the remaining closed in red zone.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Manufacturing and Processing Index lost the most with 4.26 percent while Trading Index lost the least 0.50%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18475', 'image' => '20230815044859_collage (13).jpg', 'article_date' => '2023-08-15 16:47:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18745', 'article_category_id' => '1', 'title' => '‘Budget and Monetary Policy not Helpful in Economic Growth’', 'sub_title' => '', 'summary' => 'August 15: Former industrialists say that this year's budget and monetary policy are not in favour of revitalizing the economy when the country is facing economic crisis.', '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 15: Former industrialists say that this year's budget and monetary policy are not in favour of revitalizing the economy when the country is facing economic crisis. </span></span></span></span></p> <p><span style="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 participants of the seventh series of Biztalk program organized by Morang Business Association claimed that the budget and monetary policy are not helpful towards economic growth of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In a discussion on the topic of 'State of the Economy: Current Discussion', Naveen Rijal, president of the association, said that the private sector can move forward only if the country develops. He pointed out that the government should speed up the development work to strengthen the economic sector. Participating in the event, CPN-UML MP Bhagwati Chaudhary said that if the government can increase capital expenditure, the pace of Nepal's development will also increase. She emphasized that the game of commission in the construction sector should be ended and the budget should be properly allocated in all sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Independent MP Amaresh Kumar Singh said that there is no financial discipline in the country. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is no discipline, the country has become a place of chaos, regulatory and service provider bodies should be separate," said Singh. Ganesh Parajuli, Member of Parliament of the Rastriya Swatantra Party, claimed that the young generation came into politics to end the political despair in the country and for responsible politics. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We had to come because the old guards did nothing. The country will not change just by insulting others. Let us take responsibility and participate in the campaign," 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"">MP Gyanendra Shahi of Rastriya Prajatantra Party accused the bureaucracy of not supporting the efforts made by the private sector for the development of the country.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18474', 'image' => '20230815041218_1692063085.jpg', 'article_date' => '2023-08-15 16:11:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18744', 'article_category_id' => '1', 'title' => 'Contribution of Agriculture Sector to GDP Declining', 'sub_title' => '', 'summary' => 'August 15: The contribution of the agricultural sector to the country's gross domestic product (GDP) seems to be gradually declining.', '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 15: The contribution of the agricultural sector to the country's gross domestic product (GDP) seems to be gradually declining. </span></span></span></span></p> <p><span style="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 contribution of this sector to the GDP has been comparatively low because of the lack of chemical fertilizers, lack of marketing of agricultural products, misuse of agricultural subsidies and lack of adequate irrigation facilities.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households out of the total population of Nepal are involved in small or large scale agricultural work. The agricultural sector provides direct or indirect employment to about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the economically active workforce.</span></span></span></span></p> <p><span style="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 growth rate of the industrial and service sector is higher than that of the agricultural sector, so the contribution of the agricultural sector to the GDP is less. This does not mean that agricultural production has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the National Statistics Office, the contribution of the agricultural sector to Nepal's GDP has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points in the last </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years. According to the data of the office, the contribution of the agricultural sector to the GDP was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29.39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent till the fiscal year (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72). </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, it has decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The share of non-agricultural sector is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, in which </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent is of the industrial sector and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the service sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Gyanendra Adhikari said that the contribution of the agricultural sector to the GDP has been decreasing recently due to the migration of agricultural workforce to foreign countries, the extreme shortage of chemical fertilizers during the planting season, the lack of proper marketing of agricultural products, the misuse of agricultural subsidies and the lack of adequate irrigation facilities. </span></span></span></span></p> <p><span style="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, due to the failure of the government to pay attention to the very basic aspects of agriculture, its contribution to the GDP has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The decline in the contribution of agriculture to the GDP means that the contribution of other sectors including industry and services is increasing. However, the contribution of the industrial sector in Nepal does not seem to have increased significantly. Instead, the contribution of the service sector to Nepal's GDP is more," he told New Business Age, adding, "The contribution of the service sector is higher only in countries that are considered developed."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economists argue that if we can advance agriculture by modernizing it, we can achieve better results. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is estimated that the size of Nepal's GDP in terms of consumer prices has reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5381</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"">According to Sunil Kumar Singh, Senior Agricultural Economist of the Department of Agriculture, the current contribution of the agricultural sector to the GDP cannot be considered to be so bad. </span></span></span></span></p> <p><span style="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 we look at the proportion of the population involved in the agricultural sector in Nepal, this contribution is not satisfactory, he said. According to the National Statistics Office, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of people above </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""> years of age are engaged in agriculture. Singh's argument is that decline in the contribution of the agricultural sector which is dependent on such a large population is not good for the economy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2048</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> BS, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81.23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total population was dependent on agriculture..</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of </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"">49</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"">83</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"">300 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">people involved in economic activities, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent are in agriculture, forestry and fishery sector. Nepal has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million hectares of arable land. Out of that, about </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"">million hectares are barren. The area of land where food, vegetables and fruits are produced has decreased as of last December</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, such land has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.1 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent compared to the same period of the previous year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18473', 'image' => '20230815040326_agri maize.jpg', 'article_date' => '2023-08-15 16:01:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18743', 'article_category_id' => '1', 'title' => 'Group of Scammers Active in Forging Letters for Start-up Loans', 'sub_title' => '', 'summary' => 'August 15: The Department of Industry had called for proposals on March 30 to avail startup loans for emerging enterprises that meet the criteria. ', '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 15: The Department of Industry had called for proposals on March 30 to avail startup loans for emerging enterprises that meet the criteria. However, the department has not been able to extend the loan under this heading due to submission of fake proposals.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It has been found that many of the proposals, submitted in response to the call, had included fake letters by misusing government letterpads.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A group has been actively involved in misusing the letterpad of the Ministry of Industry, Commerce and Supply, in order to distribute fake letters to various people regarding start-up enterprise loans. </span></span></span></span></p> <p><span style="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 issued a notice on Monday and informed that an investigation is being conducted on the distribution of fake letters. </span></span></span></span></p> <p><span style="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 final evaluation of the applications is yet to be done," the notice said, adding, "Let's be careful of fraud by such people." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even after more than three months, the department is not sure how many projects will get loans. In the first phase, the government plans to give start-up loans to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. The applications were filed by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">382</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. It has not been decided how many of them will get loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramila Bhandari, information officer of the department, said that an investigation is being conducted into the fake letters. She said that the issue of how many people will get the loan has not yet been decided. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Some provisions of Startup Loan Fund Procedure </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are being amended</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The review process is under discussion at the ministry. Bhandari said that the applied startups will get loans only after this procedure is approved.</span></span></span></span></p> <p><span style="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 procedure was introduced by the Ministry in February. Then the application was requested in March. Meanwhile, the Ministry has prepared a draft of the National Startup Enterprise Policy. According to the policy, which is still in the draft stage, the applicants will get loans only after some changes are made in the procedure, said Bhandari.</span></span></span></span></p> <p><span style="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 Bhandari, even if the issue of providing loans has not been finalized, the first priority will be given to those who have applied for loans.</span></span></span></span></p> <p><span style="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 will provide start-up enterprise loans to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">different sectors, including agriculture, tourism, infrastructure, mining and minerals, automobiles, garbage and waste management and environment.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18472', 'image' => '20230815024352_1692059563.1687803456[1].jpg', 'article_date' => '2023-08-15 14:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '18757', 'article_category_id' => '1', 'title' => 'Government Launches Social Security Scheme for Informal Sector Workers', 'sub_title' => '', 'summary' => 'August 16: The government on Wednesday launched social security scheme for informal sector workers.', '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:"Nirmala UI","sans-serif"">August 16: The government on Wednesday launched social security scheme for informal sector workers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Addressing the launch of the social security scheme for workers in the informal sector and self-employed persons organized by the Social Security Fund (SSF), Prime Minister Pushpa Kamal Dahal said that the government will integrate the social security structure to eliminate duplication seen in this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pointing out the need to manage the fund through an integrated manner, Prime Minister Dahal said, "The fund is an important mechanism for the protection of the neglected and oppressed workers of the society." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to PM Dahal, this mechanism has the ability to increase the overall productivity by activating the internal production cycle. He added that this campaign will help the workers in the informal sector who work as long as they can and return home empty-handed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He clarified that since the Constitution of Nepal, built on the foundation of the historical struggle for the establishment of an egalitarian and just society, guarantees the right to social security of the working class as a fundamental right, the implementation of the constitution cannot be carried out unless the rights of the workers who have suffered injustice are established and their right to social security is ensured.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The PM added that the government had launched the social security scheme for Nepali migrant workers in foreign countries as part of the campaign to make all the workers join the social security fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Under this plan, the government is preparing to gradually make all the laborers in the informal sector, estimated to be more than 4 million, participate in the social security program.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that guaranteeing the rights of workers with social security is an essential condition for the establishment of an egalitarian society and a socialist-oriented political and economic system envisioned by the Constitution of Nepal, Prime Minister Dahal said that social security scheme is not just a general concept, but the creation of an environment where citizens can get education, health, employment, opportunities, concessions and respect without discrimination. He said he would.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that the 'Contribution-Based Social Security Act, 2074' should be implemented effectively to make social security sustainable and orderly, he said that the regulatory bodies will be mobilized for the implementation of the Act to ensure that employers and workers who join the fund are not deprived of the benefits of social security based on contributions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Minister for Labor, Employment and Social Security Minister Sharat Singh Bhandari, Chief Secretary Dr Baikuntha Aryal, Joint Labor Coordination Committee Chairman Binod Shrestha among others were present during the programme. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18486', 'image' => '20230816044108_SSF (1).jpg', 'article_date' => '2023-08-16 16:40:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18756', 'article_category_id' => '1', 'title' => 'Government to Collect Taxes worth Rs 677 Billion Under Seven Headings', 'sub_title' => '', 'summary' => 'August 16: The government is preparing to collect Rs 677 billion revenue under seven different headings in the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 16: The government is preparing to collect Rs 677 billion revenue under seven different headings in the current fiscal year (FY 2023/24). According to the Inland Revenue Department (IRD), the amount is being collected under the headings of income tax, value added tax, excise duty, property and lease income tax, interest tax, education service fee and health service 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"">The department is expecting to collect Rs 298.35 billion under the heading of income tax. Similarly, Rs 157.21 billion will be raised under VAT. The department said that around Rs 145.53 billion will be collected under the title of excise duty.</span></span></span></span></p> <p><span style="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 2022/23), the department collected more than Rs 213 billion under the heading of income tax. According to the details presented by the department in the Revenue Management Seminar held on Tuesday, 100 taxpayers contributed more than 52 percent of the total tax in the last fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although there are more than 55,54,000 taxpayers in Nepal, just 100 of them pay more than half of the taxes. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">An analysis of last year's taxpayers and the structure of revenue collection, it appears that Rs 251.73 billion in revenue. According to the department, this is 52.46 percent of the total collected taxes. </span></span></span></span></p> <p><span style="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 year, the department had set a target of collecting Rs 626 billion in revenue, but collected only 76.51 percent of it (Rs 479 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"">Last year according to the department</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last year, a total of 2,991 taxpayers paid Rs 3.74 billion in taxes. This is 78.14 percent of the total taxes collected in the review year. Last year, the top 10 taxpayers paid Rs 1.8 billion in taxes, which is 22.57 percent of the total taxes collected.</span></span></span></span></p> <p><span style="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 revenue officials said that they plan to effectively implement the revenue policies and programs 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"">The IRD will also implement the budget implementation action plan, complete the investigation of fraud and fake bills, identify taxpayers who are not covered by the tax system and bring them under the ambit of 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"">The IRD also pledged to bring electronic transactions under the ambit of taxation. The officials said they are working to identify the growing trend of fake bills and take effective action against them.</span></span></span></span></p> <p><span style="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, revenue officials consider the decision to bring electronic services provided by non-residents to consumers in Nepal under the scope of tax, levying luxury tax, foreign tourism tax and foreign employment service tax as policy reforms.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18485', 'image' => '20230816040519_IRDD.jpg', 'article_date' => '2023-08-16 16:04:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18755', 'article_category_id' => '1', 'title' => 'Government Prepares STI Blueprint to Monitor Cooperatives', 'sub_title' => '', 'summary' => 'August 16: The 'Cooperative Sector Improvement Suggestion Task Force' is preparing a blueprint to form a second level regulatory body for monitoring cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 16: The 'Cooperative Sector Improvement Suggestion Task Force' is preparing a blueprint to form a second level regulatory body for monitoring cooperatives. The task force is mandated to submit suggestions along with the cooperative sector reform plan to the regulatory body. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">A member of the task force informed New Business Age that the term of the task force expired on August 11.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif""> “We prepared a report with suggestions for the reform of the cooperative sector. The submission of the report has been delayed because of the delay in finalizing the Second Tier Institution (STI) framework.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The task force is discussing the options of developing the capacity of the Department of Cooperatives, assigning responsibility to the National Cooperative Development Board or forming a regulator under the Nepal Rastra Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Since the rights of the cooperatives have been transferred to the local level, the task force is in favor of delegating an authorized regulator rather than handing the responsibility to the federal government. After the task force recommends STI, the government will make a law accordingly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government had announced while unveiling the budget for the current fiscal year that it will establish a specialized regulatory body to effectively regulate and supervise the cooperatives dealing in savings and loans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In the new federal system, the right to register and monitor cooperatives has been delegated to the municipality. However, due to the lack of skilled manpower and infrastructure in those agencies, the regulation of cooperatives has become more chaotic. The government does not even have the details of the business of the cooperatives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Due to ineffective regulation of cooperatives, savings in such organizations are at risk. When some cooperatives could not return the savings of their members, the depositors started a movement against the cooperatives. After that, the government on May 6 formed the task force to identify the problems and suggest solutions. The task force was initially given a deadline of 2 months. After the task force was able to submit only the preliminary report on July 11, the deadline was extended by 1 month.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The task force comprises of a member of the National Planning Commission, who overlooks the cooperatives sector, Jayakant Raut, the secretary of the Ministry of Land Management, Cooperatives and Poverty Alleviation, the chairman of the troubled cooperative management committee, the joint secretary of the Ministry of Cooperatives, Finance, representatives from the Women, Children and Senior Citizens and the National Planning Commission, a director of Nepal Rastra Bank, senior police officers of the Central Investigation Bureau of Nepal Police. Chairman of the National Cooperative Federation is also a member of the task force. Similarly, the task force also has two experts and a financial analyst as its members.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government reached an understanding with the victims of the cooperative to address their problems and refund the money of the depositors based on the suggestions of the task force.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18484', 'image' => '20230816030415_Cooperative.jpg', 'article_date' => '2023-08-16 15:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18754', 'article_category_id' => '1', 'title' => 'Govt Revises DPR of Kathmandu-Terai Fast Track, Reduces Cost and Length of the Expressway ', 'sub_title' => '', 'summary' => 'August 16: The government has amended the detailed project report (DPR) of the Kathmandu-Tarai Fast Track (Expressway). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 16: The government has amended the detailed project report (DPR) of the Kathmandu-Tarai Fast Track (Expressway). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Minister for Physical Infrastructure and Transport, Prakash Jwala, the document has undergone revisions in a way that it would result in the reduction of both cost and length for the road project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Tuesday decided to revise the DPR for the expressway. With the revision, the project cost is to decrease by Rs 2 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the amendment, the fast track is estimated to cost Rs 211 billion. The integration of a tunnel in the project contributed to a reduction in the project's overall length and subsequently in its cost as well, said Minister Jwala.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project is being undertaken under the supervision of the Nepalese Army. The project had begun on April 25, 2017 and it has so far reported 25.54 percent progress. The deadline of the project completion is set for mid-April, 2027. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Initially, the project was estimated to cost Rs 213. 09 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18483', 'image' => '20230816021309_20170616052456_fast track nov 21.jpg', 'article_date' => '2023-08-16 14:12:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18753', 'article_category_id' => '266', 'title' => 'Ncell Announces EPL League Contest', 'sub_title' => '', 'summary' => 'August 16: Ncell Axiata Limited has launched the ‘Ncell EPL League’ contest on its Ncell App in which customers can get a chance to win weekly prizes and grand prizes at the end of the English Premier League (EPL) season.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 16: Ncell Axiata Limited has launched the ‘Ncell EPL League’ contest on its Ncell App in which customers can get a chance to win weekly prizes and grand prizes at the end of the English Premier League (EPL) season. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell said in a statement that its customers using the Ncell App can predict the football scorelines on a weekly basis on the fixtures of the ongoing matches of the English Premier League (EPL) season 2023/24. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">To take part in the contest, Ncell App users can simply log in to </span></span><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">the app, go to the hamburger icon on the top right corner of the app, click on the Predict & Win section, register the details, predict, and submit their scores weekly. There will also be a weekly bonus question to collect 10 points and some prizes for answers, added Ncell.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the EPL season, the first prize winner of the contest will get a free Wirefree device with</span></span><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif""> a 250 GB monthly subscription for 12 months, reads the statement. The second prize winner is entitled to get a free Wirefree device with a 250 GB monthly subscription for six months, while the third prize winner will get a Wirefree device with a 250 GB monthly subscription for free for three months. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Ncell, the winners will also be provided with the home jersey of their selected favorite team and club merchandise. This contest will run until the end of the season ie, 19<sup>th</sup> May 2024.</span></span></span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell further said that the weekly prizes and overall winning prizes will be awarded to the participants with the highest scores. In the weekly prizes, five lucky game week winners with the highest scores will get Ncell’s Combo Pack priced at Rs 998 in which they will get nonstop all net voice calls, 2 GB per day data, and 400 all net SMS that are valid for 28 days. </span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The notification of winners will be sent via SMS and in-app notification, added Ncell. In the event of the prediction of the same scores, the winners will be selected based on a lucky draw. The points will be awarded on the basis of the correct winning team (3 points) and correct score lines (5 points). </span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell said that only users above 18 are eligible to take part in the Predict & Win contest and the boxes for predicting the scores will be locked 30 minutes before the first game of the specific game week.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18482', 'image' => '20230816013610_Ncell EPL League.jpg', 'article_date' => '2023-08-16 13:35:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18752', 'article_category_id' => '1', 'title' => 'Government and Private Sector at Odds about Tax Collection ', 'sub_title' => '', 'summary' => 'August 16: The government and the private sector have expressed conflicting views regarding tax collection.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">August 16: The government and the private sector have expressed conflicting views regarding tax collection. The government is of the view that it should increase the tax base while the private sector stakeholders have suggested the government to increase the scope of tax instead of the tax base.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Arjun Prasad Pokharel, secretary at the Ministry of Finance, recently said that the government's revenue collection target for the current fiscal year could be met by increasing the tax base. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Secretary Pokharel expressed such views during the 'Management Seminar 2080' organized by the Inland Revenue Department on Tuesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Speaking on the occasion, Nepal Chamber of Commerce President Rajendra Malla said that the government could meet its revenue collection target if the scope of tax is extended rather than its base.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Stating that a huge number of enterprises and individuals were still out of the ambit of tax, he pointed out the need to bring them under the taxation system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">According to him, 40 percent of goods were being imported through the 'Grey Market'. He stressed that it should be brought under the scope of taxation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Similarly, Anjan Shrestha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), said that taxes in Nepal were higher than other countries in South Asia.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">"The growth rate of revenue is negative as compared to the growth rate of the gross domestic product (GDP)," he said.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Shrestha also expressed concern that there were no signs of improvement in the national economy 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:13.5pt"><span style="font-family:"Arial","sans-serif"">Likewise, Birendra Raj Pandey, vice-chairperson of the Confederation of Nepalese Industries, said that the taxation system of Nepal should focus on manufacturing sector rather than being import-oriented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Secretary Pokharel underscored the need to optimize technology to reduce the cost of revenue collection.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">"The cost of revenue collection has increased. We need to get rid of the manual style of working unlike in the past. We need to optimize technology," said Finance Secretary Pokharel, urging the concerned authorities to emphasize implementation of the new provisions in the Financial Act.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">He also expressed hope that the taxation system in Nepal would improve through systematic development and capacity building of the employees.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18481', 'image' => '20230816114842_taxxxxx.jpg', 'article_date' => '2023-08-16 11:46:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18751', 'article_category_id' => '1', 'title' => '71 Industries Closed in Dhanusha', 'sub_title' => '', 'summary' => 'August 16: A total of 71 micro, domestic and small-scale industries were shut down in Dhanusha district in the last fiscal year (FY 2022/23).', '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 16: A total of 71 micro, domestic and small-scale industries were shut down in Dhanusha district in the last fiscal year (FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">/</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Office of Domestic and Small Industries, Dhanusha, among the closed industries include </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> small-scale industries and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic industries. Hundreds of workers have become unemployed due to the closure of the industry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the office, these industries were closed due to the impact of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, increase in interest rates of banks, and lack of liquidity. Commercial shutters are becoming empty in Janakpurdham after the closure of 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"">Currently, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">536 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">small-scale industries and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">591 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic industries are operating in Dhanusha. Altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">930 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">people have got direct employment from these industries. The office informed that the fixed and current capital of the operating industry is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.55</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18480', 'image' => '20230816110747_1692150431.jpg', 'article_date' => '2023-08-16 11:06:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18750', 'article_category_id' => '1', 'title' => ' Over 13,000 Dengue Cases Confirmed Across the Country; Sunsari Records the Highest', 'sub_title' => '', 'summary' => 'The dengue infection has been spreading across the nation. The country has recorded a total of 13,291 cases of dengue in 74 districts, according to Epidemiology and Communicable Disease Control Division. Tragically, the disease has claimed the lives of 10 individuals.', 'content' => '<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">August 16: The dengue infection has been spreading across the nation. The country has recorded a total of 13,291 cases of dengue in 74 districts, according to Epidemiology and Communicable Disease Control Division. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Tragically, the disease has claimed the lives of 10 individuals.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Rudra Prasad Marasini, the director of the division, has identified two key factors contributing to the rapid expansion of dengue: persistent rainfall and inadequate sanitation practices. In response to the escalating daily case counts, he has issued a strong call for vigilance, urging the public to remain cautious and take appropriate measures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Given the escalating daily incidents of dengue, it is imperative that we adopt preventive measures, including upholding hygiene practices and safeguarding ourselves against mosquito bites," said Director Marasini. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He went on to highlight, "Dengue cases have a tendency to surge notably during the months of Bhadra and Ashoj."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The first instance of dengue case was recorded in Nepal in 2004. In the year 2022, the country had reported a staggering 54,784 confirmed cases, resulting in 88 fatalities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the affected areas, Sunasari District stands out with the highest dengue case count, tallying up to 7,089 infections. Similarly, Morang has reported 1,591 cases, Dhadhing has 1,202 cases, Jhapa has 896 cases, Kaski has 247 cases, and Dhankuta has 236 cases. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Kathmandu has documented 196 cases, Darchula has reported 194 cases, Sankhuwasabha has 156 cases, and Chitwan has confirmed dengue infections in 90 individuals, according to the Epidemiology and Communicable Disease Control Division's data.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The prevalence of dengue infections is highest in Koshi Province, which has seen a staggering 10,182 confirmed cases. Furthermore, Bagmati Province has recorded 1,793 cases, and Gandaki Province has 510 cases.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Sudurpaschim Province has 417 cases, Lumbini Province has 263 cases, Madhes Province has 92 cases, and Karnali Province has reported 36 cases, as per the division’s data.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the wake of surge of dengue cases, the division has issued a series of recommendations to the public: sleep under mosquito nets consistently, wear long sleeves and pants while engaged in outdoor activities, apply mosquito repellent, install mesh screens on windows and doors, and take care to prevent the accumulation of water in open containers, such as tires or pots. </span></span></p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18479', 'image' => '20230816060835_collage (19).jpg', 'article_date' => '2023-08-16 06:06:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18748', 'article_category_id' => '1', 'title' => 'NOC Hikes Prices of Petrol and Diesel', 'sub_title' => '', 'summary' => 'August 15: Nepal Oil Corporation (NOC) has increased the prices of petrol and diesel. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: Nepal Oil Corporation (NOC) has increased the prices of petrol and diesel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Board of Directors of the state-owned oil monopoly on Tuesday increased the price of diesel by Rs 14 per litre and that of petrol by Rs 5 per liter effective from August 16 (Wednesday). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the hike, petrol will now cost Rs 175 per litre while diesel and kerosene each will cost Rs 164.5 per liter, NOC said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NOC decided to increase the prices of petrol and diesel after its supplier, the Indian Oil Cororation (IOC), increased the prices. </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"">Prior to this, the NOC had increased the prices of petroleum products on August 1. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18478', 'image' => '20230815112737_20210824101943_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2023-08-15 23:26:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18749', 'article_category_id' => '1', 'title' => 'NEB Announces Grade 12 Results ', 'sub_title' => '', 'summary' => 'August 15: The National Examinations Board (NEB) has published the results of Grade 12 on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The National Examinations Board (NEB) has published the results of Grade 12 on Tuesday. The exams were held from May 9 to 19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organizing a news conference on Tuesday evening, NEB Chairman Dr Mahashram Sharma said that some 50.09 per cent students were graded in the results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Sharma, the results this year were better compared to the last year by three percentage points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 467,389 students from across the country had participated in the exams held at 1,457 exam centers. According to the board, this year, over 56,000 took the exams for grade improvement. The grade sheet is available if the student secures a minimum of 35 percent marks in theoretical part for each subject. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the board, the results will be accessible through its official website and Nepal Telecom's various platforms. The board has requested the students to visit the its website www.neb.gov.np or Nepal Telecom's website www.neb.ntc.net.np to view the results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the results can be obtained by dialing 1600 or by sending a text to 1601 of Nepal Telecom. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18477', 'image' => '20230815113922_blank - Copy - Copy.jpg', 'article_date' => '2023-08-15 23:32:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18747', 'article_category_id' => '1', 'title' => 'Nepal Records 87% Paddy Plantation; 7 Percent Less than Last year ', 'sub_title' => '', 'summary' => 'The country has witnessed 87 percent paddy plantation as of August 11 this year. The total paddy plantation marks a decline of seven percent compared to the previous year. ', 'content' => '<p><span style="font-size:20px">August 15: The country has witnessed 87 percent paddy plantation as of August 11 this year. The total paddy plantation marks a decline of seven percent compared to the previous year. </span></p> <p><span style="font-size:20px">The Ministry of Agriculture and Livestock Development has reported paddy has been planted in 87% of the total land area. This figure is notably lower than the same period last year.</span></p> <p><span style="font-size:20px">Sabnam Shivakoti, the spokesperson for the Ministry, said that the recorded data until August 11 accounts for paddy plantation on 1.4 million hectares of land, equating to 87%.</span></p> <p><span style="font-size:20px">The decline in paddy plantation for this year is attributed to the delayed monsoon in several provinces, namely Madhes, Bagmati, and Gandaki.</span></p> <p><span style="font-size:20px">The process of rice transplantation will continue until the mid-August (end of Shrawan). Despite the current figures, the Ministry anticipates that the paddy plantation rate will rise to 92-95% by the end of this month.</span></p> <p><span style="font-size:20px">Province-wise, Koshi Province has achieved a paddy plantation rate of 94%, whereas Madhes stands at only 68%. Meanwhile, Gandaki Province has completed 93% of its paddy plantation, Karnali boasts a rate of 98%, Lumbini stands at 93%, and Sudurpaschim claims the highest rate at 99%.</span></p> <p><span style="font-size:20px">Additionally, the Ministry has informed that Nepal has initiated tomato exports to India. A total of 30 metric tonnes of tomatoes have been exported to India through the Kakadbhitta and Bhairahawa border points. (RSS)</span><br /> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18476', 'image' => '20230815051513_collage (14).jpg', 'article_date' => '2023-08-15 17:13:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18746', 'article_category_id' => '1', 'title' => 'NEPSE Sheds 31.80 Points to Close at 2045.44 ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) index decreased by 31.80 points, or 1.53 % and settled at 2045.44 points on the third trading of the week, Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Nepal Stock Exchange (NEPSE) index decreased by 31.80 points, or 1.53 % and settled at 2045.44 points on the third trading of the week, Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The sensitive index decreased by 1.57%, the float index decreased by 1.54%, and the sensitive float index dropped by 12.73% respectively. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The secondary benchmark index is in sideways and traders tend to book their profits as soon the market makes gains of some points. Following the 61 points rise, the NEPSE has witnessed fall of 35 points in the last two days’ trading. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many companies listed in the NEPSE have published their fourth quarterly financial reports. Majority of them have published unsatisfactory report.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Most of the hydropower and production and manufacturing companies have published the reports with losses, discouraging the investors from increasing their purchases.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, a total of 278 scrips exchanged theiri hands through 61,341 transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As many as 5,603,179 shares were traded, amounting to Rs 2.15 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Distillery Limited (HDL) recorded the highest turnover of Rs. 20.55 crores and closed at a market price of Rs. 2,017.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Emerging Nepal Limited (ENL) gained the highest 5.18% to close at Rs. 1,016.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Himalayan Distillery Limited (HDL) lost the highest 7.69% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, only Mutual Fund Index closed in the green zone while the remaining closed in red zone.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Manufacturing and Processing Index lost the most with 4.26 percent while Trading Index lost the least 0.50%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18475', 'image' => '20230815044859_collage (13).jpg', 'article_date' => '2023-08-15 16:47:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18745', 'article_category_id' => '1', 'title' => '‘Budget and Monetary Policy not Helpful in Economic Growth’', 'sub_title' => '', 'summary' => 'August 15: Former industrialists say that this year's budget and monetary policy are not in favour of revitalizing the economy when the country is facing economic crisis.', '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 15: Former industrialists say that this year's budget and monetary policy are not in favour of revitalizing the economy when the country is facing economic crisis. </span></span></span></span></p> <p><span style="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 participants of the seventh series of Biztalk program organized by Morang Business Association claimed that the budget and monetary policy are not helpful towards economic growth of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In a discussion on the topic of 'State of the Economy: Current Discussion', Naveen Rijal, president of the association, said that the private sector can move forward only if the country develops. He pointed out that the government should speed up the development work to strengthen the economic sector. Participating in the event, CPN-UML MP Bhagwati Chaudhary said that if the government can increase capital expenditure, the pace of Nepal's development will also increase. She emphasized that the game of commission in the construction sector should be ended and the budget should be properly allocated in all sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Independent MP Amaresh Kumar Singh said that there is no financial discipline in the country. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is no discipline, the country has become a place of chaos, regulatory and service provider bodies should be separate," said Singh. Ganesh Parajuli, Member of Parliament of the Rastriya Swatantra Party, claimed that the young generation came into politics to end the political despair in the country and for responsible politics. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We had to come because the old guards did nothing. The country will not change just by insulting others. Let us take responsibility and participate in the campaign," 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"">MP Gyanendra Shahi of Rastriya Prajatantra Party accused the bureaucracy of not supporting the efforts made by the private sector for the development of the country.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18474', 'image' => '20230815041218_1692063085.jpg', 'article_date' => '2023-08-15 16:11:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18744', 'article_category_id' => '1', 'title' => 'Contribution of Agriculture Sector to GDP Declining', 'sub_title' => '', 'summary' => 'August 15: The contribution of the agricultural sector to the country's gross domestic product (GDP) seems to be gradually declining.', '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 15: The contribution of the agricultural sector to the country's gross domestic product (GDP) seems to be gradually declining. </span></span></span></span></p> <p><span style="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 contribution of this sector to the GDP has been comparatively low because of the lack of chemical fertilizers, lack of marketing of agricultural products, misuse of agricultural subsidies and lack of adequate irrigation facilities.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households out of the total population of Nepal are involved in small or large scale agricultural work. The agricultural sector provides direct or indirect employment to about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the economically active workforce.</span></span></span></span></p> <p><span style="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 growth rate of the industrial and service sector is higher than that of the agricultural sector, so the contribution of the agricultural sector to the GDP is less. This does not mean that agricultural production has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the National Statistics Office, the contribution of the agricultural sector to Nepal's GDP has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points in the last </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years. According to the data of the office, the contribution of the agricultural sector to the GDP was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29.39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent till the fiscal year (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72). </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, it has decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The share of non-agricultural sector is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, in which </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent is of the industrial sector and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the service sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Gyanendra Adhikari said that the contribution of the agricultural sector to the GDP has been decreasing recently due to the migration of agricultural workforce to foreign countries, the extreme shortage of chemical fertilizers during the planting season, the lack of proper marketing of agricultural products, the misuse of agricultural subsidies and the lack of adequate irrigation facilities. </span></span></span></span></p> <p><span style="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, due to the failure of the government to pay attention to the very basic aspects of agriculture, its contribution to the GDP has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The decline in the contribution of agriculture to the GDP means that the contribution of other sectors including industry and services is increasing. However, the contribution of the industrial sector in Nepal does not seem to have increased significantly. Instead, the contribution of the service sector to Nepal's GDP is more," he told New Business Age, adding, "The contribution of the service sector is higher only in countries that are considered developed."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economists argue that if we can advance agriculture by modernizing it, we can achieve better results. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is estimated that the size of Nepal's GDP in terms of consumer prices has reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5381</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"">According to Sunil Kumar Singh, Senior Agricultural Economist of the Department of Agriculture, the current contribution of the agricultural sector to the GDP cannot be considered to be so bad. </span></span></span></span></p> <p><span style="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 we look at the proportion of the population involved in the agricultural sector in Nepal, this contribution is not satisfactory, he said. According to the National Statistics Office, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of people above </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""> years of age are engaged in agriculture. Singh's argument is that decline in the contribution of the agricultural sector which is dependent on such a large population is not good for the economy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2048</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> BS, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81.23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total population was dependent on agriculture..</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of </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"">49</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"">83</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"">300 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">people involved in economic activities, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent are in agriculture, forestry and fishery sector. Nepal has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million hectares of arable land. Out of that, about </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"">million hectares are barren. The area of land where food, vegetables and fruits are produced has decreased as of last December</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, such land has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.1 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent compared to the same period of the previous year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18473', 'image' => '20230815040326_agri maize.jpg', 'article_date' => '2023-08-15 16:01:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18743', 'article_category_id' => '1', 'title' => 'Group of Scammers Active in Forging Letters for Start-up Loans', 'sub_title' => '', 'summary' => 'August 15: The Department of Industry had called for proposals on March 30 to avail startup loans for emerging enterprises that meet the criteria. ', '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 15: The Department of Industry had called for proposals on March 30 to avail startup loans for emerging enterprises that meet the criteria. However, the department has not been able to extend the loan under this heading due to submission of fake proposals.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It has been found that many of the proposals, submitted in response to the call, had included fake letters by misusing government letterpads.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A group has been actively involved in misusing the letterpad of the Ministry of Industry, Commerce and Supply, in order to distribute fake letters to various people regarding start-up enterprise loans. </span></span></span></span></p> <p><span style="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 issued a notice on Monday and informed that an investigation is being conducted on the distribution of fake letters. </span></span></span></span></p> <p><span style="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 final evaluation of the applications is yet to be done," the notice said, adding, "Let's be careful of fraud by such people." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even after more than three months, the department is not sure how many projects will get loans. In the first phase, the government plans to give start-up loans to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. The applications were filed by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">382</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. It has not been decided how many of them will get loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramila Bhandari, information officer of the department, said that an investigation is being conducted into the fake letters. She said that the issue of how many people will get the loan has not yet been decided. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Some provisions of Startup Loan Fund Procedure </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are being amended</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The review process is under discussion at the ministry. Bhandari said that the applied startups will get loans only after this procedure is approved.</span></span></span></span></p> <p><span style="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 procedure was introduced by the Ministry in February. Then the application was requested in March. Meanwhile, the Ministry has prepared a draft of the National Startup Enterprise Policy. According to the policy, which is still in the draft stage, the applicants will get loans only after some changes are made in the procedure, said Bhandari.</span></span></span></span></p> <p><span style="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 Bhandari, even if the issue of providing loans has not been finalized, the first priority will be given to those who have applied for loans.</span></span></span></span></p> <p><span style="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 will provide start-up enterprise loans to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">different sectors, including agriculture, tourism, infrastructure, mining and minerals, automobiles, garbage and waste management and environment.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18472', 'image' => '20230815024352_1692059563.1687803456[1].jpg', 'article_date' => '2023-08-15 14:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18757', 'article_category_id' => '1', 'title' => 'Government Launches Social Security Scheme for Informal Sector Workers', 'sub_title' => '', 'summary' => 'August 16: The government on Wednesday launched social security scheme for informal sector workers.', '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:"Nirmala UI","sans-serif"">August 16: The government on Wednesday launched social security scheme for informal sector workers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Addressing the launch of the social security scheme for workers in the informal sector and self-employed persons organized by the Social Security Fund (SSF), Prime Minister Pushpa Kamal Dahal said that the government will integrate the social security structure to eliminate duplication seen in this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pointing out the need to manage the fund through an integrated manner, Prime Minister Dahal said, "The fund is an important mechanism for the protection of the neglected and oppressed workers of the society." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to PM Dahal, this mechanism has the ability to increase the overall productivity by activating the internal production cycle. He added that this campaign will help the workers in the informal sector who work as long as they can and return home empty-handed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He clarified that since the Constitution of Nepal, built on the foundation of the historical struggle for the establishment of an egalitarian and just society, guarantees the right to social security of the working class as a fundamental right, the implementation of the constitution cannot be carried out unless the rights of the workers who have suffered injustice are established and their right to social security is ensured.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The PM added that the government had launched the social security scheme for Nepali migrant workers in foreign countries as part of the campaign to make all the workers join the social security fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Under this plan, the government is preparing to gradually make all the laborers in the informal sector, estimated to be more than 4 million, participate in the social security program.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that guaranteeing the rights of workers with social security is an essential condition for the establishment of an egalitarian society and a socialist-oriented political and economic system envisioned by the Constitution of Nepal, Prime Minister Dahal said that social security scheme is not just a general concept, but the creation of an environment where citizens can get education, health, employment, opportunities, concessions and respect without discrimination. He said he would.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that the 'Contribution-Based Social Security Act, 2074' should be implemented effectively to make social security sustainable and orderly, he said that the regulatory bodies will be mobilized for the implementation of the Act to ensure that employers and workers who join the fund are not deprived of the benefits of social security based on contributions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Minister for Labor, Employment and Social Security Minister Sharat Singh Bhandari, Chief Secretary Dr Baikuntha Aryal, Joint Labor Coordination Committee Chairman Binod Shrestha among others were present during the programme. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18486', 'image' => '20230816044108_SSF (1).jpg', 'article_date' => '2023-08-16 16:40:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18756', 'article_category_id' => '1', 'title' => 'Government to Collect Taxes worth Rs 677 Billion Under Seven Headings', 'sub_title' => '', 'summary' => 'August 16: The government is preparing to collect Rs 677 billion revenue under seven different headings in the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 16: The government is preparing to collect Rs 677 billion revenue under seven different headings in the current fiscal year (FY 2023/24). According to the Inland Revenue Department (IRD), the amount is being collected under the headings of income tax, value added tax, excise duty, property and lease income tax, interest tax, education service fee and health service 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"">The department is expecting to collect Rs 298.35 billion under the heading of income tax. Similarly, Rs 157.21 billion will be raised under VAT. The department said that around Rs 145.53 billion will be collected under the title of excise duty.</span></span></span></span></p> <p><span style="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 2022/23), the department collected more than Rs 213 billion under the heading of income tax. According to the details presented by the department in the Revenue Management Seminar held on Tuesday, 100 taxpayers contributed more than 52 percent of the total tax in the last fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although there are more than 55,54,000 taxpayers in Nepal, just 100 of them pay more than half of the taxes. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">An analysis of last year's taxpayers and the structure of revenue collection, it appears that Rs 251.73 billion in revenue. According to the department, this is 52.46 percent of the total collected taxes. </span></span></span></span></p> <p><span style="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 year, the department had set a target of collecting Rs 626 billion in revenue, but collected only 76.51 percent of it (Rs 479 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"">Last year according to the department</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last year, a total of 2,991 taxpayers paid Rs 3.74 billion in taxes. This is 78.14 percent of the total taxes collected in the review year. Last year, the top 10 taxpayers paid Rs 1.8 billion in taxes, which is 22.57 percent of the total taxes collected.</span></span></span></span></p> <p><span style="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 revenue officials said that they plan to effectively implement the revenue policies and programs 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"">The IRD will also implement the budget implementation action plan, complete the investigation of fraud and fake bills, identify taxpayers who are not covered by the tax system and bring them under the ambit of 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"">The IRD also pledged to bring electronic transactions under the ambit of taxation. The officials said they are working to identify the growing trend of fake bills and take effective action against them.</span></span></span></span></p> <p><span style="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, revenue officials consider the decision to bring electronic services provided by non-residents to consumers in Nepal under the scope of tax, levying luxury tax, foreign tourism tax and foreign employment service tax as policy reforms.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18485', 'image' => '20230816040519_IRDD.jpg', 'article_date' => '2023-08-16 16:04:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18755', 'article_category_id' => '1', 'title' => 'Government Prepares STI Blueprint to Monitor Cooperatives', 'sub_title' => '', 'summary' => 'August 16: The 'Cooperative Sector Improvement Suggestion Task Force' is preparing a blueprint to form a second level regulatory body for monitoring cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 16: The 'Cooperative Sector Improvement Suggestion Task Force' is preparing a blueprint to form a second level regulatory body for monitoring cooperatives. The task force is mandated to submit suggestions along with the cooperative sector reform plan to the regulatory body. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">A member of the task force informed New Business Age that the term of the task force expired on August 11.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif""> “We prepared a report with suggestions for the reform of the cooperative sector. The submission of the report has been delayed because of the delay in finalizing the Second Tier Institution (STI) framework.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The task force is discussing the options of developing the capacity of the Department of Cooperatives, assigning responsibility to the National Cooperative Development Board or forming a regulator under the Nepal Rastra Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Since the rights of the cooperatives have been transferred to the local level, the task force is in favor of delegating an authorized regulator rather than handing the responsibility to the federal government. After the task force recommends STI, the government will make a law accordingly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government had announced while unveiling the budget for the current fiscal year that it will establish a specialized regulatory body to effectively regulate and supervise the cooperatives dealing in savings and loans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In the new federal system, the right to register and monitor cooperatives has been delegated to the municipality. However, due to the lack of skilled manpower and infrastructure in those agencies, the regulation of cooperatives has become more chaotic. The government does not even have the details of the business of the cooperatives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Due to ineffective regulation of cooperatives, savings in such organizations are at risk. When some cooperatives could not return the savings of their members, the depositors started a movement against the cooperatives. After that, the government on May 6 formed the task force to identify the problems and suggest solutions. The task force was initially given a deadline of 2 months. After the task force was able to submit only the preliminary report on July 11, the deadline was extended by 1 month.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The task force comprises of a member of the National Planning Commission, who overlooks the cooperatives sector, Jayakant Raut, the secretary of the Ministry of Land Management, Cooperatives and Poverty Alleviation, the chairman of the troubled cooperative management committee, the joint secretary of the Ministry of Cooperatives, Finance, representatives from the Women, Children and Senior Citizens and the National Planning Commission, a director of Nepal Rastra Bank, senior police officers of the Central Investigation Bureau of Nepal Police. Chairman of the National Cooperative Federation is also a member of the task force. Similarly, the task force also has two experts and a financial analyst as its members.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government reached an understanding with the victims of the cooperative to address their problems and refund the money of the depositors based on the suggestions of the task force.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18484', 'image' => '20230816030415_Cooperative.jpg', 'article_date' => '2023-08-16 15:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18754', 'article_category_id' => '1', 'title' => 'Govt Revises DPR of Kathmandu-Terai Fast Track, Reduces Cost and Length of the Expressway ', 'sub_title' => '', 'summary' => 'August 16: The government has amended the detailed project report (DPR) of the Kathmandu-Tarai Fast Track (Expressway). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 16: The government has amended the detailed project report (DPR) of the Kathmandu-Tarai Fast Track (Expressway). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Minister for Physical Infrastructure and Transport, Prakash Jwala, the document has undergone revisions in a way that it would result in the reduction of both cost and length for the road project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Tuesday decided to revise the DPR for the expressway. With the revision, the project cost is to decrease by Rs 2 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the amendment, the fast track is estimated to cost Rs 211 billion. The integration of a tunnel in the project contributed to a reduction in the project's overall length and subsequently in its cost as well, said Minister Jwala.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project is being undertaken under the supervision of the Nepalese Army. The project had begun on April 25, 2017 and it has so far reported 25.54 percent progress. The deadline of the project completion is set for mid-April, 2027. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Initially, the project was estimated to cost Rs 213. 09 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18483', 'image' => '20230816021309_20170616052456_fast track nov 21.jpg', 'article_date' => '2023-08-16 14:12:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18753', 'article_category_id' => '266', 'title' => 'Ncell Announces EPL League Contest', 'sub_title' => '', 'summary' => 'August 16: Ncell Axiata Limited has launched the ‘Ncell EPL League’ contest on its Ncell App in which customers can get a chance to win weekly prizes and grand prizes at the end of the English Premier League (EPL) season.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 16: Ncell Axiata Limited has launched the ‘Ncell EPL League’ contest on its Ncell App in which customers can get a chance to win weekly prizes and grand prizes at the end of the English Premier League (EPL) season. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell said in a statement that its customers using the Ncell App can predict the football scorelines on a weekly basis on the fixtures of the ongoing matches of the English Premier League (EPL) season 2023/24. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">To take part in the contest, Ncell App users can simply log in to </span></span><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">the app, go to the hamburger icon on the top right corner of the app, click on the Predict & Win section, register the details, predict, and submit their scores weekly. There will also be a weekly bonus question to collect 10 points and some prizes for answers, added Ncell.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the EPL season, the first prize winner of the contest will get a free Wirefree device with</span></span><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif""> a 250 GB monthly subscription for 12 months, reads the statement. The second prize winner is entitled to get a free Wirefree device with a 250 GB monthly subscription for six months, while the third prize winner will get a Wirefree device with a 250 GB monthly subscription for free for three months. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Ncell, the winners will also be provided with the home jersey of their selected favorite team and club merchandise. This contest will run until the end of the season ie, 19<sup>th</sup> May 2024.</span></span></span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell further said that the weekly prizes and overall winning prizes will be awarded to the participants with the highest scores. In the weekly prizes, five lucky game week winners with the highest scores will get Ncell’s Combo Pack priced at Rs 998 in which they will get nonstop all net voice calls, 2 GB per day data, and 400 all net SMS that are valid for 28 days. </span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The notification of winners will be sent via SMS and in-app notification, added Ncell. In the event of the prediction of the same scores, the winners will be selected based on a lucky draw. The points will be awarded on the basis of the correct winning team (3 points) and correct score lines (5 points). </span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell said that only users above 18 are eligible to take part in the Predict & Win contest and the boxes for predicting the scores will be locked 30 minutes before the first game of the specific game week.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18482', 'image' => '20230816013610_Ncell EPL League.jpg', 'article_date' => '2023-08-16 13:35:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18752', 'article_category_id' => '1', 'title' => 'Government and Private Sector at Odds about Tax Collection ', 'sub_title' => '', 'summary' => 'August 16: The government and the private sector have expressed conflicting views regarding tax collection.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">August 16: The government and the private sector have expressed conflicting views regarding tax collection. The government is of the view that it should increase the tax base while the private sector stakeholders have suggested the government to increase the scope of tax instead of the tax base.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Arjun Prasad Pokharel, secretary at the Ministry of Finance, recently said that the government's revenue collection target for the current fiscal year could be met by increasing the tax base. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Secretary Pokharel expressed such views during the 'Management Seminar 2080' organized by the Inland Revenue Department on Tuesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Speaking on the occasion, Nepal Chamber of Commerce President Rajendra Malla said that the government could meet its revenue collection target if the scope of tax is extended rather than its base.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Stating that a huge number of enterprises and individuals were still out of the ambit of tax, he pointed out the need to bring them under the taxation system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">According to him, 40 percent of goods were being imported through the 'Grey Market'. He stressed that it should be brought under the scope of taxation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Similarly, Anjan Shrestha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), said that taxes in Nepal were higher than other countries in South Asia.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">"The growth rate of revenue is negative as compared to the growth rate of the gross domestic product (GDP)," he said.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Shrestha also expressed concern that there were no signs of improvement in the national economy 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:13.5pt"><span style="font-family:"Arial","sans-serif"">Likewise, Birendra Raj Pandey, vice-chairperson of the Confederation of Nepalese Industries, said that the taxation system of Nepal should focus on manufacturing sector rather than being import-oriented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Secretary Pokharel underscored the need to optimize technology to reduce the cost of revenue collection.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">"The cost of revenue collection has increased. We need to get rid of the manual style of working unlike in the past. We need to optimize technology," said Finance Secretary Pokharel, urging the concerned authorities to emphasize implementation of the new provisions in the Financial Act.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">He also expressed hope that the taxation system in Nepal would improve through systematic development and capacity building of the employees.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18481', 'image' => '20230816114842_taxxxxx.jpg', 'article_date' => '2023-08-16 11:46:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18751', 'article_category_id' => '1', 'title' => '71 Industries Closed in Dhanusha', 'sub_title' => '', 'summary' => 'August 16: A total of 71 micro, domestic and small-scale industries were shut down in Dhanusha district in the last fiscal year (FY 2022/23).', '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 16: A total of 71 micro, domestic and small-scale industries were shut down in Dhanusha district in the last fiscal year (FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">/</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Office of Domestic and Small Industries, Dhanusha, among the closed industries include </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> small-scale industries and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic industries. Hundreds of workers have become unemployed due to the closure of the industry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the office, these industries were closed due to the impact of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, increase in interest rates of banks, and lack of liquidity. Commercial shutters are becoming empty in Janakpurdham after the closure of 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"">Currently, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">536 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">small-scale industries and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">591 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic industries are operating in Dhanusha. Altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">930 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">people have got direct employment from these industries. The office informed that the fixed and current capital of the operating industry is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.55</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18480', 'image' => '20230816110747_1692150431.jpg', 'article_date' => '2023-08-16 11:06:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18750', 'article_category_id' => '1', 'title' => ' Over 13,000 Dengue Cases Confirmed Across the Country; Sunsari Records the Highest', 'sub_title' => '', 'summary' => 'The dengue infection has been spreading across the nation. The country has recorded a total of 13,291 cases of dengue in 74 districts, according to Epidemiology and Communicable Disease Control Division. Tragically, the disease has claimed the lives of 10 individuals.', 'content' => '<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">August 16: The dengue infection has been spreading across the nation. The country has recorded a total of 13,291 cases of dengue in 74 districts, according to Epidemiology and Communicable Disease Control Division. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Tragically, the disease has claimed the lives of 10 individuals.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Rudra Prasad Marasini, the director of the division, has identified two key factors contributing to the rapid expansion of dengue: persistent rainfall and inadequate sanitation practices. In response to the escalating daily case counts, he has issued a strong call for vigilance, urging the public to remain cautious and take appropriate measures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Given the escalating daily incidents of dengue, it is imperative that we adopt preventive measures, including upholding hygiene practices and safeguarding ourselves against mosquito bites," said Director Marasini. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He went on to highlight, "Dengue cases have a tendency to surge notably during the months of Bhadra and Ashoj."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The first instance of dengue case was recorded in Nepal in 2004. In the year 2022, the country had reported a staggering 54,784 confirmed cases, resulting in 88 fatalities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the affected areas, Sunasari District stands out with the highest dengue case count, tallying up to 7,089 infections. Similarly, Morang has reported 1,591 cases, Dhadhing has 1,202 cases, Jhapa has 896 cases, Kaski has 247 cases, and Dhankuta has 236 cases. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Kathmandu has documented 196 cases, Darchula has reported 194 cases, Sankhuwasabha has 156 cases, and Chitwan has confirmed dengue infections in 90 individuals, according to the Epidemiology and Communicable Disease Control Division's data.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The prevalence of dengue infections is highest in Koshi Province, which has seen a staggering 10,182 confirmed cases. Furthermore, Bagmati Province has recorded 1,793 cases, and Gandaki Province has 510 cases.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Sudurpaschim Province has 417 cases, Lumbini Province has 263 cases, Madhes Province has 92 cases, and Karnali Province has reported 36 cases, as per the division’s data.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the wake of surge of dengue cases, the division has issued a series of recommendations to the public: sleep under mosquito nets consistently, wear long sleeves and pants while engaged in outdoor activities, apply mosquito repellent, install mesh screens on windows and doors, and take care to prevent the accumulation of water in open containers, such as tires or pots. </span></span></p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18479', 'image' => '20230816060835_collage (19).jpg', 'article_date' => '2023-08-16 06:06:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18748', 'article_category_id' => '1', 'title' => 'NOC Hikes Prices of Petrol and Diesel', 'sub_title' => '', 'summary' => 'August 15: Nepal Oil Corporation (NOC) has increased the prices of petrol and diesel. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: Nepal Oil Corporation (NOC) has increased the prices of petrol and diesel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Board of Directors of the state-owned oil monopoly on Tuesday increased the price of diesel by Rs 14 per litre and that of petrol by Rs 5 per liter effective from August 16 (Wednesday). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the hike, petrol will now cost Rs 175 per litre while diesel and kerosene each will cost Rs 164.5 per liter, NOC said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NOC decided to increase the prices of petrol and diesel after its supplier, the Indian Oil Cororation (IOC), increased the prices. </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"">Prior to this, the NOC had increased the prices of petroleum products on August 1. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18478', 'image' => '20230815112737_20210824101943_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2023-08-15 23:26:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18749', 'article_category_id' => '1', 'title' => 'NEB Announces Grade 12 Results ', 'sub_title' => '', 'summary' => 'August 15: The National Examinations Board (NEB) has published the results of Grade 12 on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The National Examinations Board (NEB) has published the results of Grade 12 on Tuesday. The exams were held from May 9 to 19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organizing a news conference on Tuesday evening, NEB Chairman Dr Mahashram Sharma said that some 50.09 per cent students were graded in the results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Sharma, the results this year were better compared to the last year by three percentage points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 467,389 students from across the country had participated in the exams held at 1,457 exam centers. According to the board, this year, over 56,000 took the exams for grade improvement. The grade sheet is available if the student secures a minimum of 35 percent marks in theoretical part for each subject. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the board, the results will be accessible through its official website and Nepal Telecom's various platforms. The board has requested the students to visit the its website www.neb.gov.np or Nepal Telecom's website www.neb.ntc.net.np to view the results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the results can be obtained by dialing 1600 or by sending a text to 1601 of Nepal Telecom. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18477', 'image' => '20230815113922_blank - Copy - Copy.jpg', 'article_date' => '2023-08-15 23:32:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18747', 'article_category_id' => '1', 'title' => 'Nepal Records 87% Paddy Plantation; 7 Percent Less than Last year ', 'sub_title' => '', 'summary' => 'The country has witnessed 87 percent paddy plantation as of August 11 this year. The total paddy plantation marks a decline of seven percent compared to the previous year. ', 'content' => '<p><span style="font-size:20px">August 15: The country has witnessed 87 percent paddy plantation as of August 11 this year. The total paddy plantation marks a decline of seven percent compared to the previous year. </span></p> <p><span style="font-size:20px">The Ministry of Agriculture and Livestock Development has reported paddy has been planted in 87% of the total land area. This figure is notably lower than the same period last year.</span></p> <p><span style="font-size:20px">Sabnam Shivakoti, the spokesperson for the Ministry, said that the recorded data until August 11 accounts for paddy plantation on 1.4 million hectares of land, equating to 87%.</span></p> <p><span style="font-size:20px">The decline in paddy plantation for this year is attributed to the delayed monsoon in several provinces, namely Madhes, Bagmati, and Gandaki.</span></p> <p><span style="font-size:20px">The process of rice transplantation will continue until the mid-August (end of Shrawan). Despite the current figures, the Ministry anticipates that the paddy plantation rate will rise to 92-95% by the end of this month.</span></p> <p><span style="font-size:20px">Province-wise, Koshi Province has achieved a paddy plantation rate of 94%, whereas Madhes stands at only 68%. Meanwhile, Gandaki Province has completed 93% of its paddy plantation, Karnali boasts a rate of 98%, Lumbini stands at 93%, and Sudurpaschim claims the highest rate at 99%.</span></p> <p><span style="font-size:20px">Additionally, the Ministry has informed that Nepal has initiated tomato exports to India. A total of 30 metric tonnes of tomatoes have been exported to India through the Kakadbhitta and Bhairahawa border points. (RSS)</span><br /> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18476', 'image' => '20230815051513_collage (14).jpg', 'article_date' => '2023-08-15 17:13:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18746', 'article_category_id' => '1', 'title' => 'NEPSE Sheds 31.80 Points to Close at 2045.44 ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) index decreased by 31.80 points, or 1.53 % and settled at 2045.44 points on the third trading of the week, Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Nepal Stock Exchange (NEPSE) index decreased by 31.80 points, or 1.53 % and settled at 2045.44 points on the third trading of the week, Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The sensitive index decreased by 1.57%, the float index decreased by 1.54%, and the sensitive float index dropped by 12.73% respectively. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The secondary benchmark index is in sideways and traders tend to book their profits as soon the market makes gains of some points. Following the 61 points rise, the NEPSE has witnessed fall of 35 points in the last two days’ trading. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many companies listed in the NEPSE have published their fourth quarterly financial reports. Majority of them have published unsatisfactory report.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Most of the hydropower and production and manufacturing companies have published the reports with losses, discouraging the investors from increasing their purchases.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, a total of 278 scrips exchanged theiri hands through 61,341 transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As many as 5,603,179 shares were traded, amounting to Rs 2.15 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Distillery Limited (HDL) recorded the highest turnover of Rs. 20.55 crores and closed at a market price of Rs. 2,017.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Emerging Nepal Limited (ENL) gained the highest 5.18% to close at Rs. 1,016.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Himalayan Distillery Limited (HDL) lost the highest 7.69% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, only Mutual Fund Index closed in the green zone while the remaining closed in red zone.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Manufacturing and Processing Index lost the most with 4.26 percent while Trading Index lost the least 0.50%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18475', 'image' => '20230815044859_collage (13).jpg', 'article_date' => '2023-08-15 16:47:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18745', 'article_category_id' => '1', 'title' => '‘Budget and Monetary Policy not Helpful in Economic Growth’', 'sub_title' => '', 'summary' => 'August 15: Former industrialists say that this year's budget and monetary policy are not in favour of revitalizing the economy when the country is facing economic crisis.', '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 15: Former industrialists say that this year's budget and monetary policy are not in favour of revitalizing the economy when the country is facing economic crisis. </span></span></span></span></p> <p><span style="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 participants of the seventh series of Biztalk program organized by Morang Business Association claimed that the budget and monetary policy are not helpful towards economic growth of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In a discussion on the topic of 'State of the Economy: Current Discussion', Naveen Rijal, president of the association, said that the private sector can move forward only if the country develops. He pointed out that the government should speed up the development work to strengthen the economic sector. Participating in the event, CPN-UML MP Bhagwati Chaudhary said that if the government can increase capital expenditure, the pace of Nepal's development will also increase. She emphasized that the game of commission in the construction sector should be ended and the budget should be properly allocated in all sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Independent MP Amaresh Kumar Singh said that there is no financial discipline in the country. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is no discipline, the country has become a place of chaos, regulatory and service provider bodies should be separate," said Singh. Ganesh Parajuli, Member of Parliament of the Rastriya Swatantra Party, claimed that the young generation came into politics to end the political despair in the country and for responsible politics. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We had to come because the old guards did nothing. The country will not change just by insulting others. Let us take responsibility and participate in the campaign," 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"">MP Gyanendra Shahi of Rastriya Prajatantra Party accused the bureaucracy of not supporting the efforts made by the private sector for the development of the country.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18474', 'image' => '20230815041218_1692063085.jpg', 'article_date' => '2023-08-15 16:11:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18744', 'article_category_id' => '1', 'title' => 'Contribution of Agriculture Sector to GDP Declining', 'sub_title' => '', 'summary' => 'August 15: The contribution of the agricultural sector to the country's gross domestic product (GDP) seems to be gradually declining.', '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 15: The contribution of the agricultural sector to the country's gross domestic product (GDP) seems to be gradually declining. </span></span></span></span></p> <p><span style="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 contribution of this sector to the GDP has been comparatively low because of the lack of chemical fertilizers, lack of marketing of agricultural products, misuse of agricultural subsidies and lack of adequate irrigation facilities.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households out of the total population of Nepal are involved in small or large scale agricultural work. The agricultural sector provides direct or indirect employment to about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the economically active workforce.</span></span></span></span></p> <p><span style="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 growth rate of the industrial and service sector is higher than that of the agricultural sector, so the contribution of the agricultural sector to the GDP is less. This does not mean that agricultural production has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the National Statistics Office, the contribution of the agricultural sector to Nepal's GDP has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points in the last </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years. According to the data of the office, the contribution of the agricultural sector to the GDP was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29.39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent till the fiscal year (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72). </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, it has decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The share of non-agricultural sector is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, in which </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent is of the industrial sector and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the service sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Gyanendra Adhikari said that the contribution of the agricultural sector to the GDP has been decreasing recently due to the migration of agricultural workforce to foreign countries, the extreme shortage of chemical fertilizers during the planting season, the lack of proper marketing of agricultural products, the misuse of agricultural subsidies and the lack of adequate irrigation facilities. </span></span></span></span></p> <p><span style="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, due to the failure of the government to pay attention to the very basic aspects of agriculture, its contribution to the GDP has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The decline in the contribution of agriculture to the GDP means that the contribution of other sectors including industry and services is increasing. However, the contribution of the industrial sector in Nepal does not seem to have increased significantly. Instead, the contribution of the service sector to Nepal's GDP is more," he told New Business Age, adding, "The contribution of the service sector is higher only in countries that are considered developed."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economists argue that if we can advance agriculture by modernizing it, we can achieve better results. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is estimated that the size of Nepal's GDP in terms of consumer prices has reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5381</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"">According to Sunil Kumar Singh, Senior Agricultural Economist of the Department of Agriculture, the current contribution of the agricultural sector to the GDP cannot be considered to be so bad. </span></span></span></span></p> <p><span style="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 we look at the proportion of the population involved in the agricultural sector in Nepal, this contribution is not satisfactory, he said. According to the National Statistics Office, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of people above </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""> years of age are engaged in agriculture. Singh's argument is that decline in the contribution of the agricultural sector which is dependent on such a large population is not good for the economy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2048</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> BS, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81.23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total population was dependent on agriculture..</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of </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"">49</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"">83</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"">300 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">people involved in economic activities, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent are in agriculture, forestry and fishery sector. Nepal has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million hectares of arable land. Out of that, about </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"">million hectares are barren. The area of land where food, vegetables and fruits are produced has decreased as of last December</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, such land has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.1 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent compared to the same period of the previous year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18473', 'image' => '20230815040326_agri maize.jpg', 'article_date' => '2023-08-15 16:01:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18743', 'article_category_id' => '1', 'title' => 'Group of Scammers Active in Forging Letters for Start-up Loans', 'sub_title' => '', 'summary' => 'August 15: The Department of Industry had called for proposals on March 30 to avail startup loans for emerging enterprises that meet the criteria. ', '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 15: The Department of Industry had called for proposals on March 30 to avail startup loans for emerging enterprises that meet the criteria. However, the department has not been able to extend the loan under this heading due to submission of fake proposals.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It has been found that many of the proposals, submitted in response to the call, had included fake letters by misusing government letterpads.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A group has been actively involved in misusing the letterpad of the Ministry of Industry, Commerce and Supply, in order to distribute fake letters to various people regarding start-up enterprise loans. </span></span></span></span></p> <p><span style="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 issued a notice on Monday and informed that an investigation is being conducted on the distribution of fake letters. </span></span></span></span></p> <p><span style="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 final evaluation of the applications is yet to be done," the notice said, adding, "Let's be careful of fraud by such people." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even after more than three months, the department is not sure how many projects will get loans. In the first phase, the government plans to give start-up loans to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. The applications were filed by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">382</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. It has not been decided how many of them will get loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramila Bhandari, information officer of the department, said that an investigation is being conducted into the fake letters. She said that the issue of how many people will get the loan has not yet been decided. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Some provisions of Startup Loan Fund Procedure </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are being amended</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The review process is under discussion at the ministry. Bhandari said that the applied startups will get loans only after this procedure is approved.</span></span></span></span></p> <p><span style="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 procedure was introduced by the Ministry in February. Then the application was requested in March. Meanwhile, the Ministry has prepared a draft of the National Startup Enterprise Policy. According to the policy, which is still in the draft stage, the applicants will get loans only after some changes are made in the procedure, said Bhandari.</span></span></span></span></p> <p><span style="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 Bhandari, even if the issue of providing loans has not been finalized, the first priority will be given to those who have applied for loans.</span></span></span></span></p> <p><span style="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 will provide start-up enterprise loans to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">different sectors, including agriculture, tourism, infrastructure, mining and minerals, automobiles, garbage and waste management and environment.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18472', 'image' => '20230815024352_1692059563.1687803456[1].jpg', 'article_date' => '2023-08-15 14:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18757', 'article_category_id' => '1', 'title' => 'Government Launches Social Security Scheme for Informal Sector Workers', 'sub_title' => '', 'summary' => 'August 16: The government on Wednesday launched social security scheme for informal sector workers.', '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:"Nirmala UI","sans-serif"">August 16: The government on Wednesday launched social security scheme for informal sector workers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Addressing the launch of the social security scheme for workers in the informal sector and self-employed persons organized by the Social Security Fund (SSF), Prime Minister Pushpa Kamal Dahal said that the government will integrate the social security structure to eliminate duplication seen in this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pointing out the need to manage the fund through an integrated manner, Prime Minister Dahal said, "The fund is an important mechanism for the protection of the neglected and oppressed workers of the society." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to PM Dahal, this mechanism has the ability to increase the overall productivity by activating the internal production cycle. He added that this campaign will help the workers in the informal sector who work as long as they can and return home empty-handed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He clarified that since the Constitution of Nepal, built on the foundation of the historical struggle for the establishment of an egalitarian and just society, guarantees the right to social security of the working class as a fundamental right, the implementation of the constitution cannot be carried out unless the rights of the workers who have suffered injustice are established and their right to social security is ensured.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The PM added that the government had launched the social security scheme for Nepali migrant workers in foreign countries as part of the campaign to make all the workers join the social security fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Under this plan, the government is preparing to gradually make all the laborers in the informal sector, estimated to be more than 4 million, participate in the social security program.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that guaranteeing the rights of workers with social security is an essential condition for the establishment of an egalitarian society and a socialist-oriented political and economic system envisioned by the Constitution of Nepal, Prime Minister Dahal said that social security scheme is not just a general concept, but the creation of an environment where citizens can get education, health, employment, opportunities, concessions and respect without discrimination. He said he would.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stating that the 'Contribution-Based Social Security Act, 2074' should be implemented effectively to make social security sustainable and orderly, he said that the regulatory bodies will be mobilized for the implementation of the Act to ensure that employers and workers who join the fund are not deprived of the benefits of social security based on contributions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Minister for Labor, Employment and Social Security Minister Sharat Singh Bhandari, Chief Secretary Dr Baikuntha Aryal, Joint Labor Coordination Committee Chairman Binod Shrestha among others were present during the programme. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18486', 'image' => '20230816044108_SSF (1).jpg', 'article_date' => '2023-08-16 16:40:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18756', 'article_category_id' => '1', 'title' => 'Government to Collect Taxes worth Rs 677 Billion Under Seven Headings', 'sub_title' => '', 'summary' => 'August 16: The government is preparing to collect Rs 677 billion revenue under seven different headings in the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 16: The government is preparing to collect Rs 677 billion revenue under seven different headings in the current fiscal year (FY 2023/24). According to the Inland Revenue Department (IRD), the amount is being collected under the headings of income tax, value added tax, excise duty, property and lease income tax, interest tax, education service fee and health service 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"">The department is expecting to collect Rs 298.35 billion under the heading of income tax. Similarly, Rs 157.21 billion will be raised under VAT. The department said that around Rs 145.53 billion will be collected under the title of excise duty.</span></span></span></span></p> <p><span style="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 2022/23), the department collected more than Rs 213 billion under the heading of income tax. According to the details presented by the department in the Revenue Management Seminar held on Tuesday, 100 taxpayers contributed more than 52 percent of the total tax in the last fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although there are more than 55,54,000 taxpayers in Nepal, just 100 of them pay more than half of the taxes. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">An analysis of last year's taxpayers and the structure of revenue collection, it appears that Rs 251.73 billion in revenue. According to the department, this is 52.46 percent of the total collected taxes. </span></span></span></span></p> <p><span style="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 year, the department had set a target of collecting Rs 626 billion in revenue, but collected only 76.51 percent of it (Rs 479 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"">Last year according to the department</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last year, a total of 2,991 taxpayers paid Rs 3.74 billion in taxes. This is 78.14 percent of the total taxes collected in the review year. Last year, the top 10 taxpayers paid Rs 1.8 billion in taxes, which is 22.57 percent of the total taxes collected.</span></span></span></span></p> <p><span style="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 revenue officials said that they plan to effectively implement the revenue policies and programs 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"">The IRD will also implement the budget implementation action plan, complete the investigation of fraud and fake bills, identify taxpayers who are not covered by the tax system and bring them under the ambit of 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"">The IRD also pledged to bring electronic transactions under the ambit of taxation. The officials said they are working to identify the growing trend of fake bills and take effective action against them.</span></span></span></span></p> <p><span style="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, revenue officials consider the decision to bring electronic services provided by non-residents to consumers in Nepal under the scope of tax, levying luxury tax, foreign tourism tax and foreign employment service tax as policy reforms.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18485', 'image' => '20230816040519_IRDD.jpg', 'article_date' => '2023-08-16 16:04:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18755', 'article_category_id' => '1', 'title' => 'Government Prepares STI Blueprint to Monitor Cooperatives', 'sub_title' => '', 'summary' => 'August 16: The 'Cooperative Sector Improvement Suggestion Task Force' is preparing a blueprint to form a second level regulatory body for monitoring cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 16: The 'Cooperative Sector Improvement Suggestion Task Force' is preparing a blueprint to form a second level regulatory body for monitoring cooperatives. The task force is mandated to submit suggestions along with the cooperative sector reform plan to the regulatory body. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">A member of the task force informed New Business Age that the term of the task force expired on August 11.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif""> “We prepared a report with suggestions for the reform of the cooperative sector. The submission of the report has been delayed because of the delay in finalizing the Second Tier Institution (STI) framework.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The task force is discussing the options of developing the capacity of the Department of Cooperatives, assigning responsibility to the National Cooperative Development Board or forming a regulator under the Nepal Rastra Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Since the rights of the cooperatives have been transferred to the local level, the task force is in favor of delegating an authorized regulator rather than handing the responsibility to the federal government. After the task force recommends STI, the government will make a law accordingly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government had announced while unveiling the budget for the current fiscal year that it will establish a specialized regulatory body to effectively regulate and supervise the cooperatives dealing in savings and loans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In the new federal system, the right to register and monitor cooperatives has been delegated to the municipality. However, due to the lack of skilled manpower and infrastructure in those agencies, the regulation of cooperatives has become more chaotic. The government does not even have the details of the business of the cooperatives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Due to ineffective regulation of cooperatives, savings in such organizations are at risk. When some cooperatives could not return the savings of their members, the depositors started a movement against the cooperatives. After that, the government on May 6 formed the task force to identify the problems and suggest solutions. The task force was initially given a deadline of 2 months. After the task force was able to submit only the preliminary report on July 11, the deadline was extended by 1 month.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The task force comprises of a member of the National Planning Commission, who overlooks the cooperatives sector, Jayakant Raut, the secretary of the Ministry of Land Management, Cooperatives and Poverty Alleviation, the chairman of the troubled cooperative management committee, the joint secretary of the Ministry of Cooperatives, Finance, representatives from the Women, Children and Senior Citizens and the National Planning Commission, a director of Nepal Rastra Bank, senior police officers of the Central Investigation Bureau of Nepal Police. Chairman of the National Cooperative Federation is also a member of the task force. Similarly, the task force also has two experts and a financial analyst as its members.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The government reached an understanding with the victims of the cooperative to address their problems and refund the money of the depositors based on the suggestions of the task force.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18484', 'image' => '20230816030415_Cooperative.jpg', 'article_date' => '2023-08-16 15:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18754', 'article_category_id' => '1', 'title' => 'Govt Revises DPR of Kathmandu-Terai Fast Track, Reduces Cost and Length of the Expressway ', 'sub_title' => '', 'summary' => 'August 16: The government has amended the detailed project report (DPR) of the Kathmandu-Tarai Fast Track (Expressway). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 16: The government has amended the detailed project report (DPR) of the Kathmandu-Tarai Fast Track (Expressway). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Minister for Physical Infrastructure and Transport, Prakash Jwala, the document has undergone revisions in a way that it would result in the reduction of both cost and length for the road project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Tuesday decided to revise the DPR for the expressway. With the revision, the project cost is to decrease by Rs 2 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the amendment, the fast track is estimated to cost Rs 211 billion. The integration of a tunnel in the project contributed to a reduction in the project's overall length and subsequently in its cost as well, said Minister Jwala.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project is being undertaken under the supervision of the Nepalese Army. The project had begun on April 25, 2017 and it has so far reported 25.54 percent progress. The deadline of the project completion is set for mid-April, 2027. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Initially, the project was estimated to cost Rs 213. 09 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18483', 'image' => '20230816021309_20170616052456_fast track nov 21.jpg', 'article_date' => '2023-08-16 14:12:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18753', 'article_category_id' => '266', 'title' => 'Ncell Announces EPL League Contest', 'sub_title' => '', 'summary' => 'August 16: Ncell Axiata Limited has launched the ‘Ncell EPL League’ contest on its Ncell App in which customers can get a chance to win weekly prizes and grand prizes at the end of the English Premier League (EPL) season.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 16: Ncell Axiata Limited has launched the ‘Ncell EPL League’ contest on its Ncell App in which customers can get a chance to win weekly prizes and grand prizes at the end of the English Premier League (EPL) season. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell said in a statement that its customers using the Ncell App can predict the football scorelines on a weekly basis on the fixtures of the ongoing matches of the English Premier League (EPL) season 2023/24. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">To take part in the contest, Ncell App users can simply log in to </span></span><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">the app, go to the hamburger icon on the top right corner of the app, click on the Predict & Win section, register the details, predict, and submit their scores weekly. There will also be a weekly bonus question to collect 10 points and some prizes for answers, added Ncell.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the EPL season, the first prize winner of the contest will get a free Wirefree device with</span></span><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif""> a 250 GB monthly subscription for 12 months, reads the statement. The second prize winner is entitled to get a free Wirefree device with a 250 GB monthly subscription for six months, while the third prize winner will get a Wirefree device with a 250 GB monthly subscription for free for three months. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Ncell, the winners will also be provided with the home jersey of their selected favorite team and club merchandise. This contest will run until the end of the season ie, 19<sup>th</sup> May 2024.</span></span></span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell further said that the weekly prizes and overall winning prizes will be awarded to the participants with the highest scores. In the weekly prizes, five lucky game week winners with the highest scores will get Ncell’s Combo Pack priced at Rs 998 in which they will get nonstop all net voice calls, 2 GB per day data, and 400 all net SMS that are valid for 28 days. </span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The notification of winners will be sent via SMS and in-app notification, added Ncell. In the event of the prediction of the same scores, the winners will be selected based on a lucky draw. The points will be awarded on the basis of the correct winning team (3 points) and correct score lines (5 points). </span></span></p> <p><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ncell said that only users above 18 are eligible to take part in the Predict & Win contest and the boxes for predicting the scores will be locked 30 minutes before the first game of the specific game week.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18482', 'image' => '20230816013610_Ncell EPL League.jpg', 'article_date' => '2023-08-16 13:35:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18752', 'article_category_id' => '1', 'title' => 'Government and Private Sector at Odds about Tax Collection ', 'sub_title' => '', 'summary' => 'August 16: The government and the private sector have expressed conflicting views regarding tax collection.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">August 16: The government and the private sector have expressed conflicting views regarding tax collection. The government is of the view that it should increase the tax base while the private sector stakeholders have suggested the government to increase the scope of tax instead of the tax base.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Arjun Prasad Pokharel, secretary at the Ministry of Finance, recently said that the government's revenue collection target for the current fiscal year could be met by increasing the tax base. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Secretary Pokharel expressed such views during the 'Management Seminar 2080' organized by the Inland Revenue Department on Tuesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Speaking on the occasion, Nepal Chamber of Commerce President Rajendra Malla said that the government could meet its revenue collection target if the scope of tax is extended rather than its base.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Stating that a huge number of enterprises and individuals were still out of the ambit of tax, he pointed out the need to bring them under the taxation system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">According to him, 40 percent of goods were being imported through the 'Grey Market'. He stressed that it should be brought under the scope of taxation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Similarly, Anjan Shrestha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), said that taxes in Nepal were higher than other countries in South Asia.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">"The growth rate of revenue is negative as compared to the growth rate of the gross domestic product (GDP)," he said.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Shrestha also expressed concern that there were no signs of improvement in the national economy 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:13.5pt"><span style="font-family:"Arial","sans-serif"">Likewise, Birendra Raj Pandey, vice-chairperson of the Confederation of Nepalese Industries, said that the taxation system of Nepal should focus on manufacturing sector rather than being import-oriented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Secretary Pokharel underscored the need to optimize technology to reduce the cost of revenue collection.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">"The cost of revenue collection has increased. We need to get rid of the manual style of working unlike in the past. We need to optimize technology," said Finance Secretary Pokharel, urging the concerned authorities to emphasize implementation of the new provisions in the Financial Act.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">He also expressed hope that the taxation system in Nepal would improve through systematic development and capacity building of the employees.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18481', 'image' => '20230816114842_taxxxxx.jpg', 'article_date' => '2023-08-16 11:46:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18751', 'article_category_id' => '1', 'title' => '71 Industries Closed in Dhanusha', 'sub_title' => '', 'summary' => 'August 16: A total of 71 micro, domestic and small-scale industries were shut down in Dhanusha district in the last fiscal year (FY 2022/23).', '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 16: A total of 71 micro, domestic and small-scale industries were shut down in Dhanusha district in the last fiscal year (FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">/</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">23)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Office of Domestic and Small Industries, Dhanusha, among the closed industries include </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> small-scale industries and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic industries. Hundreds of workers have become unemployed due to the closure of the industry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the office, these industries were closed due to the impact of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, increase in interest rates of banks, and lack of liquidity. Commercial shutters are becoming empty in Janakpurdham after the closure of 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"">Currently, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">536 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">small-scale industries and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">591 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic industries are operating in Dhanusha. Altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">930 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">people have got direct employment from these industries. The office informed that the fixed and current capital of the operating industry is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.55</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18480', 'image' => '20230816110747_1692150431.jpg', 'article_date' => '2023-08-16 11:06:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18750', 'article_category_id' => '1', 'title' => ' Over 13,000 Dengue Cases Confirmed Across the Country; Sunsari Records the Highest', 'sub_title' => '', 'summary' => 'The dengue infection has been spreading across the nation. The country has recorded a total of 13,291 cases of dengue in 74 districts, according to Epidemiology and Communicable Disease Control Division. Tragically, the disease has claimed the lives of 10 individuals.', 'content' => '<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">August 16: The dengue infection has been spreading across the nation. The country has recorded a total of 13,291 cases of dengue in 74 districts, according to Epidemiology and Communicable Disease Control Division. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Tragically, the disease has claimed the lives of 10 individuals.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Rudra Prasad Marasini, the director of the division, has identified two key factors contributing to the rapid expansion of dengue: persistent rainfall and inadequate sanitation practices. In response to the escalating daily case counts, he has issued a strong call for vigilance, urging the public to remain cautious and take appropriate measures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Given the escalating daily incidents of dengue, it is imperative that we adopt preventive measures, including upholding hygiene practices and safeguarding ourselves against mosquito bites," said Director Marasini. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He went on to highlight, "Dengue cases have a tendency to surge notably during the months of Bhadra and Ashoj."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The first instance of dengue case was recorded in Nepal in 2004. In the year 2022, the country had reported a staggering 54,784 confirmed cases, resulting in 88 fatalities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the affected areas, Sunasari District stands out with the highest dengue case count, tallying up to 7,089 infections. Similarly, Morang has reported 1,591 cases, Dhadhing has 1,202 cases, Jhapa has 896 cases, Kaski has 247 cases, and Dhankuta has 236 cases. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Kathmandu has documented 196 cases, Darchula has reported 194 cases, Sankhuwasabha has 156 cases, and Chitwan has confirmed dengue infections in 90 individuals, according to the Epidemiology and Communicable Disease Control Division's data.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The prevalence of dengue infections is highest in Koshi Province, which has seen a staggering 10,182 confirmed cases. Furthermore, Bagmati Province has recorded 1,793 cases, and Gandaki Province has 510 cases.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Sudurpaschim Province has 417 cases, Lumbini Province has 263 cases, Madhes Province has 92 cases, and Karnali Province has reported 36 cases, as per the division’s data.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the wake of surge of dengue cases, the division has issued a series of recommendations to the public: sleep under mosquito nets consistently, wear long sleeves and pants while engaged in outdoor activities, apply mosquito repellent, install mesh screens on windows and doors, and take care to prevent the accumulation of water in open containers, such as tires or pots. </span></span></p> ', 'published' => true, 'created' => '2023-08-16', 'modified' => '2023-08-16', 'keywords' => '', 'description' => '', 'sortorder' => '18479', 'image' => '20230816060835_collage (19).jpg', 'article_date' => '2023-08-16 06:06:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18748', 'article_category_id' => '1', 'title' => 'NOC Hikes Prices of Petrol and Diesel', 'sub_title' => '', 'summary' => 'August 15: Nepal Oil Corporation (NOC) has increased the prices of petrol and diesel. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: Nepal Oil Corporation (NOC) has increased the prices of petrol and diesel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Board of Directors of the state-owned oil monopoly on Tuesday increased the price of diesel by Rs 14 per litre and that of petrol by Rs 5 per liter effective from August 16 (Wednesday). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the hike, petrol will now cost Rs 175 per litre while diesel and kerosene each will cost Rs 164.5 per liter, NOC said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NOC decided to increase the prices of petrol and diesel after its supplier, the Indian Oil Cororation (IOC), increased the prices. </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"">Prior to this, the NOC had increased the prices of petroleum products on August 1. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18478', 'image' => '20230815112737_20210824101943_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2023-08-15 23:26:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18749', 'article_category_id' => '1', 'title' => 'NEB Announces Grade 12 Results ', 'sub_title' => '', 'summary' => 'August 15: The National Examinations Board (NEB) has published the results of Grade 12 on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The National Examinations Board (NEB) has published the results of Grade 12 on Tuesday. The exams were held from May 9 to 19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organizing a news conference on Tuesday evening, NEB Chairman Dr Mahashram Sharma said that some 50.09 per cent students were graded in the results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Sharma, the results this year were better compared to the last year by three percentage points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 467,389 students from across the country had participated in the exams held at 1,457 exam centers. According to the board, this year, over 56,000 took the exams for grade improvement. The grade sheet is available if the student secures a minimum of 35 percent marks in theoretical part for each subject. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the board, the results will be accessible through its official website and Nepal Telecom's various platforms. The board has requested the students to visit the its website www.neb.gov.np or Nepal Telecom's website www.neb.ntc.net.np to view the results. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the results can be obtained by dialing 1600 or by sending a text to 1601 of Nepal Telecom. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18477', 'image' => '20230815113922_blank - Copy - Copy.jpg', 'article_date' => '2023-08-15 23:32:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18747', 'article_category_id' => '1', 'title' => 'Nepal Records 87% Paddy Plantation; 7 Percent Less than Last year ', 'sub_title' => '', 'summary' => 'The country has witnessed 87 percent paddy plantation as of August 11 this year. The total paddy plantation marks a decline of seven percent compared to the previous year. ', 'content' => '<p><span style="font-size:20px">August 15: The country has witnessed 87 percent paddy plantation as of August 11 this year. The total paddy plantation marks a decline of seven percent compared to the previous year. </span></p> <p><span style="font-size:20px">The Ministry of Agriculture and Livestock Development has reported paddy has been planted in 87% of the total land area. This figure is notably lower than the same period last year.</span></p> <p><span style="font-size:20px">Sabnam Shivakoti, the spokesperson for the Ministry, said that the recorded data until August 11 accounts for paddy plantation on 1.4 million hectares of land, equating to 87%.</span></p> <p><span style="font-size:20px">The decline in paddy plantation for this year is attributed to the delayed monsoon in several provinces, namely Madhes, Bagmati, and Gandaki.</span></p> <p><span style="font-size:20px">The process of rice transplantation will continue until the mid-August (end of Shrawan). Despite the current figures, the Ministry anticipates that the paddy plantation rate will rise to 92-95% by the end of this month.</span></p> <p><span style="font-size:20px">Province-wise, Koshi Province has achieved a paddy plantation rate of 94%, whereas Madhes stands at only 68%. Meanwhile, Gandaki Province has completed 93% of its paddy plantation, Karnali boasts a rate of 98%, Lumbini stands at 93%, and Sudurpaschim claims the highest rate at 99%.</span></p> <p><span style="font-size:20px">Additionally, the Ministry has informed that Nepal has initiated tomato exports to India. A total of 30 metric tonnes of tomatoes have been exported to India through the Kakadbhitta and Bhairahawa border points. (RSS)</span><br /> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18476', 'image' => '20230815051513_collage (14).jpg', 'article_date' => '2023-08-15 17:13:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '18746', 'article_category_id' => '1', 'title' => 'NEPSE Sheds 31.80 Points to Close at 2045.44 ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) index decreased by 31.80 points, or 1.53 % and settled at 2045.44 points on the third trading of the week, Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Nepal Stock Exchange (NEPSE) index decreased by 31.80 points, or 1.53 % and settled at 2045.44 points on the third trading of the week, Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The sensitive index decreased by 1.57%, the float index decreased by 1.54%, and the sensitive float index dropped by 12.73% respectively. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The secondary benchmark index is in sideways and traders tend to book their profits as soon the market makes gains of some points. Following the 61 points rise, the NEPSE has witnessed fall of 35 points in the last two days’ trading. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many companies listed in the NEPSE have published their fourth quarterly financial reports. Majority of them have published unsatisfactory report.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Most of the hydropower and production and manufacturing companies have published the reports with losses, discouraging the investors from increasing their purchases.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, a total of 278 scrips exchanged theiri hands through 61,341 transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As many as 5,603,179 shares were traded, amounting to Rs 2.15 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Distillery Limited (HDL) recorded the highest turnover of Rs. 20.55 crores and closed at a market price of Rs. 2,017.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Emerging Nepal Limited (ENL) gained the highest 5.18% to close at Rs. 1,016.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Himalayan Distillery Limited (HDL) lost the highest 7.69% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, only Mutual Fund Index closed in the green zone while the remaining closed in red zone.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Manufacturing and Processing Index lost the most with 4.26 percent while Trading Index lost the least 0.50%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18475', 'image' => '20230815044859_collage (13).jpg', 'article_date' => '2023-08-15 16:47:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18745', 'article_category_id' => '1', 'title' => '‘Budget and Monetary Policy not Helpful in Economic Growth’', 'sub_title' => '', 'summary' => 'August 15: Former industrialists say that this year's budget and monetary policy are not in favour of revitalizing the economy when the country is facing economic crisis.', '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 15: Former industrialists say that this year's budget and monetary policy are not in favour of revitalizing the economy when the country is facing economic crisis. </span></span></span></span></p> <p><span style="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 participants of the seventh series of Biztalk program organized by Morang Business Association claimed that the budget and monetary policy are not helpful towards economic growth of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In a discussion on the topic of 'State of the Economy: Current Discussion', Naveen Rijal, president of the association, said that the private sector can move forward only if the country develops. He pointed out that the government should speed up the development work to strengthen the economic sector. Participating in the event, CPN-UML MP Bhagwati Chaudhary said that if the government can increase capital expenditure, the pace of Nepal's development will also increase. She emphasized that the game of commission in the construction sector should be ended and the budget should be properly allocated in all sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Independent MP Amaresh Kumar Singh said that there is no financial discipline in the country. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is no discipline, the country has become a place of chaos, regulatory and service provider bodies should be separate," said Singh. Ganesh Parajuli, Member of Parliament of the Rastriya Swatantra Party, claimed that the young generation came into politics to end the political despair in the country and for responsible politics. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We had to come because the old guards did nothing. The country will not change just by insulting others. Let us take responsibility and participate in the campaign," 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"">MP Gyanendra Shahi of Rastriya Prajatantra Party accused the bureaucracy of not supporting the efforts made by the private sector for the development of the country.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18474', 'image' => '20230815041218_1692063085.jpg', 'article_date' => '2023-08-15 16:11:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18744', 'article_category_id' => '1', 'title' => 'Contribution of Agriculture Sector to GDP Declining', 'sub_title' => '', 'summary' => 'August 15: The contribution of the agricultural sector to the country's gross domestic product (GDP) seems to be gradually declining.', '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 15: The contribution of the agricultural sector to the country's gross domestic product (GDP) seems to be gradually declining. </span></span></span></span></p> <p><span style="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 contribution of this sector to the GDP has been comparatively low because of the lack of chemical fertilizers, lack of marketing of agricultural products, misuse of agricultural subsidies and lack of adequate irrigation facilities.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households out of the total population of Nepal are involved in small or large scale agricultural work. The agricultural sector provides direct or indirect employment to about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the economically active workforce.</span></span></span></span></p> <p><span style="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 growth rate of the industrial and service sector is higher than that of the agricultural sector, so the contribution of the agricultural sector to the GDP is less. This does not mean that agricultural production has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the National Statistics Office, the contribution of the agricultural sector to Nepal's GDP has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points in the last </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years. According to the data of the office, the contribution of the agricultural sector to the GDP was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29.39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent till the fiscal year (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72). </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, it has decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The share of non-agricultural sector is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, in which </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent is of the industrial sector and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the service sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Gyanendra Adhikari said that the contribution of the agricultural sector to the GDP has been decreasing recently due to the migration of agricultural workforce to foreign countries, the extreme shortage of chemical fertilizers during the planting season, the lack of proper marketing of agricultural products, the misuse of agricultural subsidies and the lack of adequate irrigation facilities. </span></span></span></span></p> <p><span style="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, due to the failure of the government to pay attention to the very basic aspects of agriculture, its contribution to the GDP has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The decline in the contribution of agriculture to the GDP means that the contribution of other sectors including industry and services is increasing. However, the contribution of the industrial sector in Nepal does not seem to have increased significantly. Instead, the contribution of the service sector to Nepal's GDP is more," he told New Business Age, adding, "The contribution of the service sector is higher only in countries that are considered developed."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economists argue that if we can advance agriculture by modernizing it, we can achieve better results. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is estimated that the size of Nepal's GDP in terms of consumer prices has reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5381</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"">According to Sunil Kumar Singh, Senior Agricultural Economist of the Department of Agriculture, the current contribution of the agricultural sector to the GDP cannot be considered to be so bad. </span></span></span></span></p> <p><span style="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 we look at the proportion of the population involved in the agricultural sector in Nepal, this contribution is not satisfactory, he said. According to the National Statistics Office, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of people above </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""> years of age are engaged in agriculture. Singh's argument is that decline in the contribution of the agricultural sector which is dependent on such a large population is not good for the economy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2048</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> BS, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81.23</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total population was dependent on agriculture..</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of </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"">49</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"">83</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"">300 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">people involved in economic activities, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent are in agriculture, forestry and fishery sector. Nepal has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million hectares of arable land. Out of that, about </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"">million hectares are barren. The area of land where food, vegetables and fruits are produced has decreased as of last December</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, such land has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.1 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent compared to the same period of the previous year.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18473', 'image' => '20230815040326_agri maize.jpg', 'article_date' => '2023-08-15 16:01:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18743', 'article_category_id' => '1', 'title' => 'Group of Scammers Active in Forging Letters for Start-up Loans', 'sub_title' => '', 'summary' => 'August 15: The Department of Industry had called for proposals on March 30 to avail startup loans for emerging enterprises that meet the criteria. ', '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 15: The Department of Industry had called for proposals on March 30 to avail startup loans for emerging enterprises that meet the criteria. However, the department has not been able to extend the loan under this heading due to submission of fake proposals.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It has been found that many of the proposals, submitted in response to the call, had included fake letters by misusing government letterpads.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A group has been actively involved in misusing the letterpad of the Ministry of Industry, Commerce and Supply, in order to distribute fake letters to various people regarding start-up enterprise loans. </span></span></span></span></p> <p><span style="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 issued a notice on Monday and informed that an investigation is being conducted on the distribution of fake letters. </span></span></span></span></p> <p><span style="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 final evaluation of the applications is yet to be done," the notice said, adding, "Let's be careful of fraud by such people." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even after more than three months, the department is not sure how many projects will get loans. In the first phase, the government plans to give start-up loans to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. The applications were filed by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">382</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. It has not been decided how many of them will get loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramila Bhandari, information officer of the department, said that an investigation is being conducted into the fake letters. She said that the issue of how many people will get the loan has not yet been decided. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Some provisions of Startup Loan Fund Procedure </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are being amended</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The review process is under discussion at the ministry. Bhandari said that the applied startups will get loans only after this procedure is approved.</span></span></span></span></p> <p><span style="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 procedure was introduced by the Ministry in February. Then the application was requested in March. Meanwhile, the Ministry has prepared a draft of the National Startup Enterprise Policy. According to the policy, which is still in the draft stage, the applicants will get loans only after some changes are made in the procedure, said Bhandari.</span></span></span></span></p> <p><span style="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 Bhandari, even if the issue of providing loans has not been finalized, the first priority will be given to those who have applied for loans.</span></span></span></span></p> <p><span style="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 will provide start-up enterprise loans to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">different sectors, including agriculture, tourism, infrastructure, mining and minerals, automobiles, garbage and waste management and environment.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18472', 'image' => '20230815024352_1692059563.1687803456[1].jpg', 'article_date' => '2023-08-15 14:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
