August 15: The government has started holding discussions with stakeholders including the private sector, donor agencies, development partners and regulatory bodies after expected improvement was not seen in economy despite government's positive…
August 15: The government has started holding discussions with stakeholders including the private sector, donor agencies, development partners and regulatory bodies after expected improvement was not seen in economy despite government's positive…
August 15: A meeting of the top leaders of the ruling coalition has concluded that a high-level probe commission is not necessary to investigate into the recent gold…
"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss…
The gold confiscated by the Department of Revenue Investigation some days ago from the Tribhuvan International Airport(TIA) premises weighs a total of 60.789 kilograms. The gold was smuggled to Nepal from Hong Kong by hiding inside brake shoes of…
August 14: Finance Minister Dr Prakash Sharan Mahat has made it clear that the contracts of projects failing to report the progress will be…
The police have arrested six employees of Citizens Bank International on the charge of possessing fake educational…
he Nepal Stock Exchange(NEPSE) Index, which posted the rise of 61 points from three days’ continuous increase, witnessed a normal correction on the second trading day on…
August 14: The US-funded Millennium Challenge Corporation (MCC) will be fully implemented from mid-August.…
August 14: The newly-opened Dusit Princess Kathmandu has unveiled the Kibu Sky Lounge within the…
August 14: Monsoon-induced landslides have led to the obstruction of highways and road sections in nine different locations across the…
August 14: At a time when the private sector’s investment in the hydropower sector as well as production is increasing, the government has prepared a report that recommends giving priority to government funded projects for power purchase and sale agreement…
August 14: The government has formed a taskforce to address the problems faced by the construction…
August 14: Water current of the Saptakoshi River in Sunsari has reached the highest level this…
August 14: Floods that occurred in Kagbeni of Baragung Muktichhetra Rrural Municipality-4 in Mustang district on Sunday evening swept away 10 houses, a police post and a…
Finance Minister Dr Prakash Sharan Mahat on Sunday held a meeting with the bankers to discuss the challenges facing the banking…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The government has started holding discussions with stakeholders including the private sector, donor agencies, development partners and regulatory bodies after expected improvement was not seen in economy despite government's positive interventions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is consulting with stakeholders as the market could not remain vibrant despite various reform measures to accelerate the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Monday met with the representatives of different umbrella organizations of the private sector to seek their suggestion to bring the economy on track. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal invited the representatives of the Federation of Nepalese Chambers of Commerce and Industries (NFCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the private sector leaders suggested that boosting the morale of the private sector was imperative to improve the country's economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Confidence of the general public has decreased and the morale of businessmen has gone down. The problem has surfaced after both government and private sector could not increase investment," the private sector's representatives said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Lack of demand in market despite increased remittance inflows and arrival of tourists has added challenges to the entrepreneurs," they added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They pointed out that the financial institutions have not been able to flow funds due to limited capital expenditure, high interest rate and some arrangements in the monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector demanded immediate payment of dues of the construction entrepreneurs, policy-level stability and environment conducive to attract foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisations also suggested that the government should encourage the private sector to bring in money from abroad by conducting the country's sovereign credit rating. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Regular supply of power at industrial corridor, participation of private sector in construction of transmission lines and opening the land plotting are other demands of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector also asked the government to make Bilateral Investment Promotion and Protection Agreement in the context that countries from the Middle East region are willing to invest in Nepal. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18471', 'image' => '20230815011333_PRO-Ktm-066A8805.jpg', 'article_date' => '2023-08-15 13:12:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18741', 'article_category_id' => '1', 'title' => 'Ruling Alliance Rejects Formation of High-Level Probe Commission on Recent Gold Scam ', 'sub_title' => '', 'summary' => 'August 15: A meeting of the top leaders of the ruling coalition has concluded that a high-level probe commission is not necessary to investigate into the recent gold scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: A meeting of the top leaders of the ruling coalition has concluded that a high-level probe commission is not necessary to investigate into the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting held at prime minister’s official residence in Baluwatar on Monday, discussions were held on contemporary political issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the leaders agreed that it was not necessary to form a high-level probe commission on the recent gold scam as demanded by the main opposition CPN (UML) in order to end the parliament obstruction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Whip of the Nepali Congress, Ramesh Lekhak, said the Central Investigation Bureau of the Nepal Police has been carrying out investigation into the scam, adding the formation of a high-level commission might obstruct the work of the CIB and distract the issue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Briefing about the meeting, he said, "The meeting concluded that the demand for formation of a high-level probe commission is to obstruct the ongoing investigation and divert the issue." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak further said that investigation regarding the alleged involvement of former Speaker and CPN (Maoist Centre) Spokesperson, Krishna Bahadur Mahara was underway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, discussions were also held on Gaur massacre, he shared, adding that the meeting also discussed that the government should finalize the Gaur massacre in accordance with the law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting also discussed about Lalita Niwas land scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the CPN (Maoist Centre) and Prime Minister Pushpa Kamal Dahal, Nepali Congress President Sher Bahadur Deuba, CPN (Unified Socialist) Chairman Madhav Kumar Nepal, Chairperson of Loktantrik Samajbadi Party Mahantha Thakur and other leaders were present during the meeting. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18470', 'image' => '20230815125402_PRO-Ktm-066A8936.jpg', 'article_date' => '2023-08-15 12:53:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18740', 'article_category_id' => '251', 'title' => 'Pertinence of Independent Commission to Probe Gold Confiscated from TIA Premises', 'sub_title' => '', 'summary' => '"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Department of Revenue Investigation seized approximately 61 kg from Tribhuvan International Airport in the evening of July 19. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off, the department intercepted the precious metal from a taxi about to exit the TIA customs area. The smuggling of a massive quantity of gold from the customs clearance without its detection has sent waves across the political and business circles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This substantial seizure of gold underscores the prevalent belief that corruption is deeply rooted and financial irregularities are entrenched within the government mechanisms and bureaucrats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discovery of smuggled 61 kg of gold has led to a face-off between the main opposition party, CPN-UML, and the coalition government in the parliament.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrarily, the government has chosen to dismiss the opposition's call for the formation of an investigation committee to delve into the gold smuggling incident. The huge cache of the gold was captured by the Department of Revenue Investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the directive of the Prime Minister Pushpa Kamal Dahal, the department has handed over the all the files and evidences collected into the incident to the CIB to go deeper into the case and dig out the truth stating that the incident draws to the organized crime due to the complexities of the scandal and wide connection of the scam. </span></span></p> <p><strong><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". </span></span></strong></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Home Minister Narayankaji Shrestha, addressing the House of Representatives, asserted the capability of existing government agencies like the Central Investigation Bureau (CIB) and Nepal Police to comprehensively investigate the incident and unveil the truth. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Shrestha proposed that the opposition party grant a 35-day period for the government's CIB to conduct its inquiry into the 61 kg gold affair.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Amidst this backdrop, the question arises: Is it appropriate and necessary to establish a dedicated probe commission to investigate the gold scandal? Can not the Nepal Police and CIB, which are established to investigate and control the crimes, effectively delve into the depths of the incident and unearth the facts? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Before addressing these inquiries, it is crucial to examine the various government bodies that have been established to combat corruption and irregularities within the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the era of the Panchayat regime, the creation of the Special Police Department (later known as the National Vigilance Centre) aimed to combat minor instances of corruption, while the Royal Palace established the Janch-buj Kendra to address major cases of corruption. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Subsequently, the CPAA was introduced in 1975 with extensive authority to investigate, prosecute, and adjudicate corruption-related crimes, evolving into the present-day CIAA after the restoration of democracy in 1990.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Commission for the Investigation of Authority (CIAA) serves as the apex constitutional body responsible for combating corruption within the Government of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Empowered by the Constitution of Nepal 2072, the CIAA is authorized to investigate cases involving public officials and their associates engaged in authority abuse through corrupt practices. Another anti-corruption entity, the National Vigilance Centre (NVC), was established in accordance with the Anti-Corruption Act, 2059 B.S., with the goal of promoting good governance, economic discipline, and transparency. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Money Laundering Investigation (DMLI), formed in 2011, focuses on combating money laundering, terrorist financing, and illicit earnings. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Central Investigation Bureau (CIB), a division of Nepal Police, possesses the mandate to investigate severe crimes, including financial irregularities and smuggling.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A substantial fund from taxpayers is channeled into the remuneration and benefits of individuals working within government agencies dedicated to combating corruption, irregularities, and other illicit activities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> These agencies have employed numerous professionals, each trained to combat corruption, address anomalies, and curb unlawful behaviors, including instances of financial irregularities and the smuggling of valuable metals such as gold within the nation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of this, it becomes a matter of prudence for the government to strategically allocate the requisite and ample resources needed to empower these anti-graft bodies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">By doing so, these agencies can effectively and efficiently execute their responsibilities, contributing to a more transparent and accountable government functioning. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The question now arises: Would an independent body, as demanded by the opposition, be more adept at investigating the 61 kg gold smuggling incident through Tribhuvan International Airport (TIA)? Is it judicious to bypass existing government entities, designed to combat corruption and anomalies, in favor of establishing a separate investigative commission? Historical instances of independent commissions have not set an encouraging precedent.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A case in point is the wide-body aircraft scandal. A parliamentary sub-committee exposed irregularities worth Rs 4.35 billion in the procurement of wide-body aircraft deals, implicating the sitting tourism minister, the NAC managing director, and several government officials, including former tourism ministers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>The demand to form a sepearte commission to investigate the gold arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the government formed an independent commission led by former chief judge Govinda Prasad Parajuli. The commission was given a 45-day timeline to submit its findings, seemingly to quell opposition voices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The principal opposition party, CPN-UML, has persistently demanded the establishment of an independent commission or committee to investigate the issue at hand. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This demand arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, CPN-UML's push for an independent commission serves a broader political agenda. It appears that the party is aiming to sow discord among the ruling coalition partners, particularly the Nepali Congress and CPN-UML. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">T</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">he arrest of Nepali Congress lawmaker Sunil Sharma by the Central Investigation Bureau provided the opposition with a rallying point. The main opposition leveraged the arrest to fuel their sentiment, showcasing CPN-UML's efforts to create fractures within the coalition partners.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The overt praise and public hobnobbing of Sunil Sharma and KP Oli suggest that Oli is resolute and shrewd availing every opportunity to destabilize the coalition partnership and unseat the collation government at any cost. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even if the government concedes and forms an independent commission, the commission's effectiveness could be marred by delays. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Negotiations surrounding the commission's mandate, membership, and jurisdiction could lead to substantial time consumption.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18469', 'image' => '20230815060756_collage (15).jpg', 'article_date' => '2023-08-15 05:55:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18739', 'article_category_id' => '1', 'title' => 'Gold Confiscated from TIA Premises Weighs 60.789 kg', 'sub_title' => '', 'summary' => 'The gold confiscated by the Department of Revenue Investigation some days ago from the Tribhuvan International Airport(TIA) premises weighs a total of 60.789 kilograms. The gold was smuggled to Nepal from Hong Kong by hiding inside brake shoes of motorcycles.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The gold confiscated by the Department of Revenue Investigation some days ago from the Tribhuvan International Airport(TIA) premises weighs a total of 60.789 kilograms. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gold was smuggled to Nepal from Hong Kong by hiding inside brake shoes of motorcycles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Thaneshwor Acharya, the Chief of the Mint Division at Nepal Rastra Bank, the provided weight is provisional as the accurate measurement will only be ascertained after the gold undergoes the melting process. The melting of the gold is scheduled to commence on Tuesday at 10:30 am.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the determination of the gold's monetary value will be finalized post the melting procedure, which is anticipated to require a day's time. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It would take three days to carry out the comprehensive assessment of the gold's monetary value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department had seized 155 kilogramme of brake shoes with gold attached from TIA premises on July 19. The seized brake shoes were kept at the Mint Division. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Revenue Investigation had handed over the responsibility to investigate the gold smuggling to the Central Investigation Bureau (CIB) of Nepal Police. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18468', 'image' => '20230815054933_collage (14).jpg', 'article_date' => '2023-08-15 05:48:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18738', 'article_category_id' => '1', 'title' => 'Contracts of Stalled Projects will be Terminated: Minister Mahat', 'sub_title' => '', 'summary' => 'August 14: Finance Minister Dr Prakash Sharan Mahat has made it clear that the contracts of projects failing to report the progress will be terminated.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">August 14: Finance Minister Dr Prakash Sharan Mahat has made it clear that the contracts of projects failing to report the progress will be terminated.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">During a discussion with the protesting contractors at his office on Monday, the finance minister said that the government would clear the dues of the contractors, but it would not hesitate to cancel the contracts of the stalled projects. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"> In case of those projects for which the termination of the contracts is not a feasible option, he urged for the management of budget and the acceleration of the projects. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Federation of Contractors' Association of Nepal (FCAN) has been agitating since July 30, alleging the government's procrastination to release the payments. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18467', 'image' => '20230814093534_20230402035731_1680390939.prakash sharan mahat.jpg', 'article_date' => '2023-08-14 21:34:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18737', 'article_category_id' => '1', 'title' => 'Six Employees of the Citizens Bank International Held', 'sub_title' => '', 'summary' => 'The police have arrested six employees of Citizens Bank International on the charge of possessing fake educational certificates.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: The police have arrested six employees of Citizens Bank International on the charge of possessing fake educational certificates. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off that employees have been working by furnishing counterfeit certificates, six employees have been nabbed from various branches of the bank, said Superintendent of Police (SP) Dan Bahadur Karki, Chief of the District Police Office in Kathmandu. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The incident is currently under investigation, police said. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18466', 'image' => '20230814061509_collage (12).jpg', 'article_date' => '2023-08-14 18:14:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18736', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 3.61 Points to Close at 2077.24 Points', 'sub_title' => '', 'summary' => 'he Nepal Stock Exchange(NEPSE) Index, which posted the rise of 61 points from three days’ continuous increase, witnessed a normal correction on the second trading day on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: The Nepal Stock Exchange(NEPSE) Index, which posted the rise of 61 points from three days’ continuous increase, witnessed a normal correction on the second trading day on Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In today's trading session, the Nepal Stock Exchange (NEPSE) Index shed 3.61 points or 0.17 percent and closed at 2077.24 points. On the last trading day, the index experienced a gain of 14.81 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, a total of 279 scrips exchanged their hands through 68,842 transactions. As many as 5,417,928 shares were traded amounting to Rs 2.09 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">IME Life Insurance Company Limited (ILI) recorded the highest turnover of Rs. 11.24 crores and closed at a market price of Rs. 589.90.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Three Star Hydropower Limited (TSHL) gained the highest 9.98% to close at Rs. 308.50.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Siddhartha Premier Insurance Limited (SPIL) lost the highest 6.46% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Five sector indices closed in the green zone while the remaining closed in the red. Manufacturing and Processing Index gained the most with 0.65 percent positive change while Hydropower Index lost the most 1.59%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index increased by 0.01 and 0.10 percent respectively, while Float Index dropped by 0.19 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18465', 'image' => '20230814045753_collage (11).jpg', 'article_date' => '2023-08-14 16:56:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18735', 'article_category_id' => '1', 'title' => 'Implementation of MCC in Full Swing from mid-August', 'sub_title' => '', 'summary' => 'August 14: The US-funded Millennium Challenge Corporation (MCC) will be fully implemented from mid-August. ', '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 14: The US-funded Millennium Challenge Corporation (MCC) will be fully implemented from mid-August. The Millennium Challenge Account Nepal (MCA Nepal), the body responsible for implementing the agreement, has made final preparations to implement the agreement approved by the Parliament. While the MCC is in the implementation phase, there are still some obstructions in the land acquisition process. Due to this, the cost of the project is likely to increase.</span></span></span></span></p> <p> </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"">There is also doubt if the project will be completed within five years.</span></span></span></span></p> <p> </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"">If the MCC project is not completed within five years, the Government of Nepal will have to bear the responsibility for the rest of the work.</span></span></span></span></p> <p> </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"">If it is not completed on time, there is a risk that the government will have to bear the financial burden and other responsibilities later, said a senior official of MCA Nepal.</span></span></span></span></p> <p> </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 agencies should help MCA Nepal to solve the problem of land acquisition,” said the official, adding, "It is not clear how the government will proceed with the land acquisition This has increased the risk of liability increasing later.”</span></span></span></span></p> <p> </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 process for land acquisition has progressed in Chitwan and Nawalparasi but obstacles remain in some places.</span></span></span></span></p> <p> </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"">Executive Director of MCA Nepal, Khadga Bahadur Bista said that the land acquisition process has progressed in nine districts. According to him, there is problem only in about 2 kilometres stretch of Kathmandu district. There is a dispute between the Nepal Electricity Authority and the locals. Although there was a plan to resolve the dispute and proceed with the work, it was not successful, said Bista.</span></span></span></span></p> <p> </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 process of land acquisition in 313 kilometres long area of the other nine districts has already progressed. The transmission line will touch 10 districts namely Kathmandu, Sindhupalchok, Nuwakot, Dhading, Makwanpur, Chitwan, Tanahun, Palpa, Nawalpur and Parasi. After completing the compensation work, it is ready to go into full implementation in some of these districts.</span></span></span></span></p> <p> </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"">According to MCA Nepal, the selection of the company to build the transmission line under the MCC is also underway. Six proposals have been submitted for the construction of the transmission line.</span></span></span></span></p> <p> </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 bids invited globally, MCA Nepal has received proposals from Mega Engineering and Infrastructure Limited and Power Mech Projects Limited, a joint venture of Kalpataru Power Transmission Limited, KEC International Limited, Transrail Lighting Limited, Tata Projects Limited and Larsen & Turbay Limited. Evaluation of these proposals is underway. It is said that the company will be selected after proper evaluation.</span></span></span></span></p> <p> </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 has allocated a budget of Rs 10.84 billion to MCA Nepal for the current fiscal year.</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 will contribute Rs 2.21 billion while the MCC will fund Rs 8.63 billion. </span></span></span></span></p> <p> </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 of Nepal had reached an understanding with the US government in 2017 to undertake the MCC project which would cover construction of cross-border transmission lines and road expansion works</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18464', 'image' => '20230814042024_1691983136.1690248678.1681795913[1].jpg', 'article_date' => '2023-08-14 16:19:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18734', 'article_category_id' => '1', 'title' => 'Dusit Princess Launches Kibu Sky Lounge', 'sub_title' => '', 'summary' => 'August 14: The newly-opened Dusit Princess Kathmandu has unveiled the Kibu Sky Lounge within the hotel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 14: The newly-opened Dusit Princess Kathmandu has unveiled the Kibu Sky Lounge within the hotel premises. The lounge is based on the top floor of the hotel with cozy indoor corners and comfortable outdoor seating along with DJ deck. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the hotel, this captivating venue promises to redefine the city's scene with a blend of sophisticated ambiance, signature cocktails and handpicked menu inspired by Japanese, Italian and other delectable cuisine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement, Dusit Princess Kathmandu said that the Kibu Sky Lounge embraces the essence of elegance, offering patrons a breathtaking panoramic view of Kathmandu's skyline. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The highlight of Kibu Sky Lounge is its meticulously long bar with large digital screen, added the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“From tantalizing barbeques to innovative fusion dishes, the culinary offerings at Kibu are destined to captivate your palate,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the hotel, curated selection of cocktails, premium spirits, and an extensive wine list are available for connoisseurs and cocktail enthusiasts alike. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We're thrilled to introduce Kibu Sky Lounge to the Kathmandu community and beyond," says Dorje Lama, managing director of Dusit Princess Kathmandu. "With its prime location on the top floor, Kibu promises a unique blend of breathtaking views, handcrafted beverages, and culinary delights, making it an ideal destination for those seeking unforgettable nights out."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The lounge will operate every day from 5PM to 2AM.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18463', 'image' => '20230814040129_Image 2.jpg', 'article_date' => '2023-08-14 16:00:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18733', 'article_category_id' => '1', 'title' => 'Landslides Block Highways in Nine Places Across Nepal ', 'sub_title' => '', 'summary' => 'August 14: Monsoon-induced landslides have led to the obstruction of highways and road sections in nine different locations across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Monsoon-induced landslides have led to the obstruction of highways and road sections in nine different locations across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Continuous rainfall triggered landslides, resulting in the obstructions of highways in various districts including Darchula, Sindhupalchowk, Mugu, Dadheldhura, Palpa, Rolpa, and Rukum (East), as confirmed by the Police Headquarters in Naxal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Gokuleshwar-Darchula Highway in Darchula, Melamchi-Helambu road section and Melamchi- Bhotang road section in Sindhupalchowk, Jumla-Nagma-Mugu road section in Mugu, Dadheldhura-Dipayal road section in Dadheldhura and Bhimdutta Highway have been obstructed, the police headquarters said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Siddhartha Highway in Palpa, Shahidmarga road section in Rolpa and Mid-Hill Highway in Rukum (East) have also been obstructed by landslides, thereby, affecting vehicular movement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Efforts are underway to clear off the landslide debris and restore the traffic along the obstructed highways and road sections, police said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => 'disaster, rainfall, highway, obstruction, Nepal, induced, block', 'description' => '', 'sortorder' => '18462', 'image' => '20230814022232_KN-Damauli-image_6483441.JPG', 'article_date' => '2023-08-14 14:21:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18732', 'article_category_id' => '1', 'title' => 'Government Report Recommends Prioritizing PPA for State-Sponsored Hydropower Projects', 'sub_title' => '', 'summary' => 'August 14: At a time when the private sector’s investment in the hydropower sector as well as production is increasing, the government has prepared a report that recommends giving priority to government funded projects for power purchase and sale agreement (PPA).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 14: At a time when the private sector’s investment in the hydropower sector as well as production is increasing, the government has prepared a report that recommends giving priority to government funded projects for power purchase and sale agreement (PPA). </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report has recommended giving priority to projects of Nepal Electricity Authority (NEA) and its subsidiaries and government-owned companies for PPA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The 'Report on Policy Arrangements Regarding Power Purchase and Sale Agreement-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">' prepared a committee headed by Joint Secretary of the Ministry of Energy, Water Resources and Irrigation, Sandeep Kumar Dev, made such a recommendation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After publishing the report of the committee formed by the government, the Independent Power Producers Association of Nepal (IPPAN) expressed discontent with the recommendation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Karki, president of IPPAN, said that it is not fair that the private sector projects that have already invested millions of rupees are not prioritized for the PPA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">IPPAN held a press conference in Kathmandu on Sunday to publicize its views on the report. On the occasion, Karki said, "PPA should be done on a first-come, first-served basis." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee has made </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> recommendations including PPA. Similarly, IPPAN said that that the committee’s recommendation to cancel the survey license and PPA of the projects that have failed to secure financial resources within a certain period is not justifiable in the current situation. </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">IPPAN demanded the government grant a special extension period of one year for projects that could not achieve financial closure due to Covid-19 and lack of liquidity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">IPPAN has suggested that the period of financial management should be fixed for </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""> years for projects up 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""> MW and for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years for 100 to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MW projects and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years for projects above </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MW. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the report of the committee, it is recommended to manage the financial management within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years from the date of completion of PPA for projects up 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""> MW and within </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""> years from the date of completion of PPA for projects above </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""> MW. It has been mentioned that if there is no financial management during this period, regardless of what is written in the production license and PPA, the authority may cancel the PPA and confiscate the bank guarantee of the project.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Mohan Kumar Dangi, senior vice president of IPPAN, said that the provision of allowing the return on equity (ROE) of 17 percent and more for large projects has come as per the demand of the private sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee formed by the government has given priority to the government's projects in the PPA, but has recommended to encourage small investors from the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It has been mentioned that ROR and PROR hydropower projects with a connected capacity of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts will be given priority over larger projects. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal as set a target to produce </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</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"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts of electricity by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2028. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal has already signed an agreement with India to achieve this goal and to export up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts of electricity from Nepal to India.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18461', 'image' => '20230814121559_hydro.jpg', 'article_date' => '2023-08-14 12:14:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18731', 'article_category_id' => '1', 'title' => 'Government Forms Taskforce to Address the Demands of Contractors ', 'sub_title' => '', 'summary' => 'August 14: The government has formed a taskforce to address the problems faced by the construction entrepreneurs.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: The government has formed a taskforce to address the problems faced by the construction entrepreneurs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Office of the Prime Minister and Council of Ministers (OPMCM) confirmed that a six-member taskforce has been formed under the coordination of Public Procurement Monitoring Office Secretary Dr Damodar Regmi with join-secretaries of line ministries as members in order to resolve the problems. The taskforce comprises representatives from the ministry of finance, physical infrastructure and, urban development among others. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee is mandated to submit a report within 15 days after conducting necessary consultations and coordination with all stakeholders, said Narayan Prasad Bhatta, spokesperson for the OPMCM. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The contractors have been voicing their concerns over the issue of non-payment of their completed works by the government. This has resulted in other problems amid rising inflation, say the agitating contractors. </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"">OPMCM Spokesperson Bhatta said that Prime Minister Pushpa Kamal Dahal has directed the Ministry of Finance and other line ministries to promptly address the demands, including payment of completed works of the contractors. He added that Prime Minister Dahal was serious about addressing several demands of the contractors. </span></span></span><br /> </p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18460', 'image' => '20230814112332_92875562_101727424839026_8489939004500738048_n.jpg', 'article_date' => '2023-08-14 11:22:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18730', 'article_category_id' => '1', 'title' => 'Koshi River’s Water Current Highest in 34 Years, all 56 Sluice Gates Opened ', 'sub_title' => '', 'summary' => 'August 14: Water current of the Saptakoshi River in Sunsari has reached the highest level this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Water current of the Saptakoshi River in Sunsari has reached the highest level this year, according to the latest measurement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police (DSP) of the District Police Office, Saptari, Naresh Kumar Singh, informed that water level has gone up in the Koshi barrage due to incessant rainfall in the mountainous area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the water level alarmingly rising, all 56 sluice gates of the Koshi barrage have been kept open, informed the police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing that a red light has been issued to mark danger in the barrage, DSP Singh said water current was measured at 462,000 cu sec in the river at 4.00 am this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the water current is declining now. In 1989, the Saptakoshi River had witnessed water current measurement of 472,000 cu sec. This morning, the water current of 462,000 cu sec was almost close to the mark of 1989. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Koshi saw such a higher level of water current after 34 years. Local administration has urged the residents near the river basins to adopt safety measures with the rise in the water current in the Saptakoshi. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18459', 'image' => '20230814104459_115931986_3859907530702809_6841247244640180715_n.jpg', 'article_date' => '2023-08-14 10:42:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18729', 'article_category_id' => '1', 'title' => 'Mustang Floods Sweep away 10 Houses, Police Post and Bridge ', 'sub_title' => '', 'summary' => 'August 14: Floods that occurred in Kagbeni of Baragung Muktichhetra Rrural Municipality-4 in Mustang district on Sunday evening swept away 10 houses, a police post and a bridge. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Floods that occurred in Kagbeni of Baragung Muktichhetra Rrural Municipality-4 in Mustang district on Sunday evening swept away 10 houses, a police post and a bridge. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flood-fed Kag rivulet, that sneaked into the human settlement in Kagbeni, a popular religious site, at 8.00 pm last night caused damages to the physical infrastructures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Muktichhetra Rural municipality Rinjin Gurung shared that the flood took away 10 houses including hotels, a police post, an under-construction motorable bridge on Jomsom-Korala road, a trail bridge, two vehicles and three electricity poles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Human loss was narrowly escaped due to timely evacuation of people after getting information about imminent flood. The flood took place after the Tiri rivulet above Kagbeni was blocked, resulting in a flash flood," he shared, adding, "It has buried houses in Kagbeni. Flood has put human settlement in a mess". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer Anup KC said the Nepalese Army, Armed Police Force and Nepal Police along with the people's representatives are being mobilized in the field for rescue operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flood in the Panda stream has caused trouble to the security personnel to reach Kagbeni through Jomsom. The road leading to the Upper Mustang via Kagbeni has been obstructed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mustang has witnessed incessant rain for the past couple of days. Water level has also increased in other rivulets of Mustang due to the incessant rain. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => 'Flood, Mustang, Kagbeni, Nepal, flash, Army, rescue, Armed, Police', 'description' => '', 'sortorder' => '18458', 'image' => '20230814022455_RSS_Mustang-Kagbenifoodgharmabadipasako.jpg', 'article_date' => '2023-08-14 10:31:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18728', 'article_category_id' => '1', 'title' => 'Finance Minister Dr Mahat Consults Bankers on Current Challenges Seen in BFIS', 'sub_title' => '', 'summary' => 'Finance Minister Dr Prakash Sharan Mahat on Sunday held a meeting with the bankers to discuss the challenges facing the banking system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: Finance Minister Dr Prakash Sharan Mahat on Sunday held a meeting with the bankers to discuss the challenges facing the banking system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The meeting, which saw the participation of CEOs of the commercial banks at the Ministry of Finance, delved into reasons for limited demand for loan despite sufficient liquidity in the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the recent days, the finance minister is holding consultations with the representatives of the private sector, donor agencies, regulatory bodies and other stakeholders regarding the interventions to be taken for reforms in economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Mahat posed pertinent questions to the participants: "Why has demands for loan not increased in the banks and financial institutions? How the banking sector can help in making economy floating? What the government and Nepal Rastra Bank should do to end the existing status?" </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the session, Sunil KC, Chairman of the Nepal Banker's Association, expressed concerns over the waning confidence levels in both the private sector and the banking industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KC also cited confusion stemming from the taxation applied to FPOs (Further Public Offerings).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, KC highlighted that funds held at the local level should be accounted for as deposits, emphasizing that approximately Rs 150 billion in deposits has dwindled since the commencement of the current fiscal year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KC predicted a downward trend in interest rates, with the possibility of rates reaching single digit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bankers suggested that the plotting of the land should be opened and the real estate market should be relaxed and loan to the small and medium enterprises should be simplified. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18457', 'image' => '20230814060959_collage (13).jpg', 'article_date' => '2023-08-14 06:07:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The government has started holding discussions with stakeholders including the private sector, donor agencies, development partners and regulatory bodies after expected improvement was not seen in economy despite government's positive interventions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is consulting with stakeholders as the market could not remain vibrant despite various reform measures to accelerate the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Monday met with the representatives of different umbrella organizations of the private sector to seek their suggestion to bring the economy on track. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal invited the representatives of the Federation of Nepalese Chambers of Commerce and Industries (NFCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the private sector leaders suggested that boosting the morale of the private sector was imperative to improve the country's economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Confidence of the general public has decreased and the morale of businessmen has gone down. The problem has surfaced after both government and private sector could not increase investment," the private sector's representatives said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Lack of demand in market despite increased remittance inflows and arrival of tourists has added challenges to the entrepreneurs," they added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They pointed out that the financial institutions have not been able to flow funds due to limited capital expenditure, high interest rate and some arrangements in the monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector demanded immediate payment of dues of the construction entrepreneurs, policy-level stability and environment conducive to attract foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisations also suggested that the government should encourage the private sector to bring in money from abroad by conducting the country's sovereign credit rating. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Regular supply of power at industrial corridor, participation of private sector in construction of transmission lines and opening the land plotting are other demands of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector also asked the government to make Bilateral Investment Promotion and Protection Agreement in the context that countries from the Middle East region are willing to invest in Nepal. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18471', 'image' => '20230815011333_PRO-Ktm-066A8805.jpg', 'article_date' => '2023-08-15 13:12:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18741', 'article_category_id' => '1', 'title' => 'Ruling Alliance Rejects Formation of High-Level Probe Commission on Recent Gold Scam ', 'sub_title' => '', 'summary' => 'August 15: A meeting of the top leaders of the ruling coalition has concluded that a high-level probe commission is not necessary to investigate into the recent gold scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: A meeting of the top leaders of the ruling coalition has concluded that a high-level probe commission is not necessary to investigate into the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting held at prime minister’s official residence in Baluwatar on Monday, discussions were held on contemporary political issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the leaders agreed that it was not necessary to form a high-level probe commission on the recent gold scam as demanded by the main opposition CPN (UML) in order to end the parliament obstruction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Whip of the Nepali Congress, Ramesh Lekhak, said the Central Investigation Bureau of the Nepal Police has been carrying out investigation into the scam, adding the formation of a high-level commission might obstruct the work of the CIB and distract the issue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Briefing about the meeting, he said, "The meeting concluded that the demand for formation of a high-level probe commission is to obstruct the ongoing investigation and divert the issue." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak further said that investigation regarding the alleged involvement of former Speaker and CPN (Maoist Centre) Spokesperson, Krishna Bahadur Mahara was underway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, discussions were also held on Gaur massacre, he shared, adding that the meeting also discussed that the government should finalize the Gaur massacre in accordance with the law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting also discussed about Lalita Niwas land scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the CPN (Maoist Centre) and Prime Minister Pushpa Kamal Dahal, Nepali Congress President Sher Bahadur Deuba, CPN (Unified Socialist) Chairman Madhav Kumar Nepal, Chairperson of Loktantrik Samajbadi Party Mahantha Thakur and other leaders were present during the meeting. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18470', 'image' => '20230815125402_PRO-Ktm-066A8936.jpg', 'article_date' => '2023-08-15 12:53:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18740', 'article_category_id' => '251', 'title' => 'Pertinence of Independent Commission to Probe Gold Confiscated from TIA Premises', 'sub_title' => '', 'summary' => '"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Department of Revenue Investigation seized approximately 61 kg from Tribhuvan International Airport in the evening of July 19. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off, the department intercepted the precious metal from a taxi about to exit the TIA customs area. The smuggling of a massive quantity of gold from the customs clearance without its detection has sent waves across the political and business circles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This substantial seizure of gold underscores the prevalent belief that corruption is deeply rooted and financial irregularities are entrenched within the government mechanisms and bureaucrats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discovery of smuggled 61 kg of gold has led to a face-off between the main opposition party, CPN-UML, and the coalition government in the parliament.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrarily, the government has chosen to dismiss the opposition's call for the formation of an investigation committee to delve into the gold smuggling incident. The huge cache of the gold was captured by the Department of Revenue Investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the directive of the Prime Minister Pushpa Kamal Dahal, the department has handed over the all the files and evidences collected into the incident to the CIB to go deeper into the case and dig out the truth stating that the incident draws to the organized crime due to the complexities of the scandal and wide connection of the scam. </span></span></p> <p><strong><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". </span></span></strong></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Home Minister Narayankaji Shrestha, addressing the House of Representatives, asserted the capability of existing government agencies like the Central Investigation Bureau (CIB) and Nepal Police to comprehensively investigate the incident and unveil the truth. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Shrestha proposed that the opposition party grant a 35-day period for the government's CIB to conduct its inquiry into the 61 kg gold affair.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Amidst this backdrop, the question arises: Is it appropriate and necessary to establish a dedicated probe commission to investigate the gold scandal? Can not the Nepal Police and CIB, which are established to investigate and control the crimes, effectively delve into the depths of the incident and unearth the facts? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Before addressing these inquiries, it is crucial to examine the various government bodies that have been established to combat corruption and irregularities within the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the era of the Panchayat regime, the creation of the Special Police Department (later known as the National Vigilance Centre) aimed to combat minor instances of corruption, while the Royal Palace established the Janch-buj Kendra to address major cases of corruption. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Subsequently, the CPAA was introduced in 1975 with extensive authority to investigate, prosecute, and adjudicate corruption-related crimes, evolving into the present-day CIAA after the restoration of democracy in 1990.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Commission for the Investigation of Authority (CIAA) serves as the apex constitutional body responsible for combating corruption within the Government of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Empowered by the Constitution of Nepal 2072, the CIAA is authorized to investigate cases involving public officials and their associates engaged in authority abuse through corrupt practices. Another anti-corruption entity, the National Vigilance Centre (NVC), was established in accordance with the Anti-Corruption Act, 2059 B.S., with the goal of promoting good governance, economic discipline, and transparency. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Money Laundering Investigation (DMLI), formed in 2011, focuses on combating money laundering, terrorist financing, and illicit earnings. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Central Investigation Bureau (CIB), a division of Nepal Police, possesses the mandate to investigate severe crimes, including financial irregularities and smuggling.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A substantial fund from taxpayers is channeled into the remuneration and benefits of individuals working within government agencies dedicated to combating corruption, irregularities, and other illicit activities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> These agencies have employed numerous professionals, each trained to combat corruption, address anomalies, and curb unlawful behaviors, including instances of financial irregularities and the smuggling of valuable metals such as gold within the nation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of this, it becomes a matter of prudence for the government to strategically allocate the requisite and ample resources needed to empower these anti-graft bodies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">By doing so, these agencies can effectively and efficiently execute their responsibilities, contributing to a more transparent and accountable government functioning. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The question now arises: Would an independent body, as demanded by the opposition, be more adept at investigating the 61 kg gold smuggling incident through Tribhuvan International Airport (TIA)? Is it judicious to bypass existing government entities, designed to combat corruption and anomalies, in favor of establishing a separate investigative commission? Historical instances of independent commissions have not set an encouraging precedent.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A case in point is the wide-body aircraft scandal. A parliamentary sub-committee exposed irregularities worth Rs 4.35 billion in the procurement of wide-body aircraft deals, implicating the sitting tourism minister, the NAC managing director, and several government officials, including former tourism ministers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>The demand to form a sepearte commission to investigate the gold arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the government formed an independent commission led by former chief judge Govinda Prasad Parajuli. The commission was given a 45-day timeline to submit its findings, seemingly to quell opposition voices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The principal opposition party, CPN-UML, has persistently demanded the establishment of an independent commission or committee to investigate the issue at hand. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This demand arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, CPN-UML's push for an independent commission serves a broader political agenda. It appears that the party is aiming to sow discord among the ruling coalition partners, particularly the Nepali Congress and CPN-UML. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">T</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">he arrest of Nepali Congress lawmaker Sunil Sharma by the Central Investigation Bureau provided the opposition with a rallying point. The main opposition leveraged the arrest to fuel their sentiment, showcasing CPN-UML's efforts to create fractures within the coalition partners.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The overt praise and public hobnobbing of Sunil Sharma and KP Oli suggest that Oli is resolute and shrewd availing every opportunity to destabilize the coalition partnership and unseat the collation government at any cost. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even if the government concedes and forms an independent commission, the commission's effectiveness could be marred by delays. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Negotiations surrounding the commission's mandate, membership, and jurisdiction could lead to substantial time consumption.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18469', 'image' => '20230815060756_collage (15).jpg', 'article_date' => '2023-08-15 05:55:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18739', 'article_category_id' => '1', 'title' => 'Gold Confiscated from TIA Premises Weighs 60.789 kg', 'sub_title' => '', 'summary' => 'The gold confiscated by the Department of Revenue Investigation some days ago from the Tribhuvan International Airport(TIA) premises weighs a total of 60.789 kilograms. The gold was smuggled to Nepal from Hong Kong by hiding inside brake shoes of motorcycles.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The gold confiscated by the Department of Revenue Investigation some days ago from the Tribhuvan International Airport(TIA) premises weighs a total of 60.789 kilograms. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gold was smuggled to Nepal from Hong Kong by hiding inside brake shoes of motorcycles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Thaneshwor Acharya, the Chief of the Mint Division at Nepal Rastra Bank, the provided weight is provisional as the accurate measurement will only be ascertained after the gold undergoes the melting process. The melting of the gold is scheduled to commence on Tuesday at 10:30 am.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the determination of the gold's monetary value will be finalized post the melting procedure, which is anticipated to require a day's time. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It would take three days to carry out the comprehensive assessment of the gold's monetary value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department had seized 155 kilogramme of brake shoes with gold attached from TIA premises on July 19. The seized brake shoes were kept at the Mint Division. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Revenue Investigation had handed over the responsibility to investigate the gold smuggling to the Central Investigation Bureau (CIB) of Nepal Police. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18468', 'image' => '20230815054933_collage (14).jpg', 'article_date' => '2023-08-15 05:48:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18738', 'article_category_id' => '1', 'title' => 'Contracts of Stalled Projects will be Terminated: Minister Mahat', 'sub_title' => '', 'summary' => 'August 14: Finance Minister Dr Prakash Sharan Mahat has made it clear that the contracts of projects failing to report the progress will be terminated.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">August 14: Finance Minister Dr Prakash Sharan Mahat has made it clear that the contracts of projects failing to report the progress will be terminated.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">During a discussion with the protesting contractors at his office on Monday, the finance minister said that the government would clear the dues of the contractors, but it would not hesitate to cancel the contracts of the stalled projects. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"> In case of those projects for which the termination of the contracts is not a feasible option, he urged for the management of budget and the acceleration of the projects. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Federation of Contractors' Association of Nepal (FCAN) has been agitating since July 30, alleging the government's procrastination to release the payments. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18467', 'image' => '20230814093534_20230402035731_1680390939.prakash sharan mahat.jpg', 'article_date' => '2023-08-14 21:34:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18737', 'article_category_id' => '1', 'title' => 'Six Employees of the Citizens Bank International Held', 'sub_title' => '', 'summary' => 'The police have arrested six employees of Citizens Bank International on the charge of possessing fake educational certificates.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: The police have arrested six employees of Citizens Bank International on the charge of possessing fake educational certificates. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off that employees have been working by furnishing counterfeit certificates, six employees have been nabbed from various branches of the bank, said Superintendent of Police (SP) Dan Bahadur Karki, Chief of the District Police Office in Kathmandu. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The incident is currently under investigation, police said. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18466', 'image' => '20230814061509_collage (12).jpg', 'article_date' => '2023-08-14 18:14:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18736', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 3.61 Points to Close at 2077.24 Points', 'sub_title' => '', 'summary' => 'he Nepal Stock Exchange(NEPSE) Index, which posted the rise of 61 points from three days’ continuous increase, witnessed a normal correction on the second trading day on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: The Nepal Stock Exchange(NEPSE) Index, which posted the rise of 61 points from three days’ continuous increase, witnessed a normal correction on the second trading day on Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In today's trading session, the Nepal Stock Exchange (NEPSE) Index shed 3.61 points or 0.17 percent and closed at 2077.24 points. On the last trading day, the index experienced a gain of 14.81 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, a total of 279 scrips exchanged their hands through 68,842 transactions. As many as 5,417,928 shares were traded amounting to Rs 2.09 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">IME Life Insurance Company Limited (ILI) recorded the highest turnover of Rs. 11.24 crores and closed at a market price of Rs. 589.90.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Three Star Hydropower Limited (TSHL) gained the highest 9.98% to close at Rs. 308.50.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Siddhartha Premier Insurance Limited (SPIL) lost the highest 6.46% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Five sector indices closed in the green zone while the remaining closed in the red. Manufacturing and Processing Index gained the most with 0.65 percent positive change while Hydropower Index lost the most 1.59%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index increased by 0.01 and 0.10 percent respectively, while Float Index dropped by 0.19 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18465', 'image' => '20230814045753_collage (11).jpg', 'article_date' => '2023-08-14 16:56:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18735', 'article_category_id' => '1', 'title' => 'Implementation of MCC in Full Swing from mid-August', 'sub_title' => '', 'summary' => 'August 14: The US-funded Millennium Challenge Corporation (MCC) will be fully implemented from mid-August. ', '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 14: The US-funded Millennium Challenge Corporation (MCC) will be fully implemented from mid-August. The Millennium Challenge Account Nepal (MCA Nepal), the body responsible for implementing the agreement, has made final preparations to implement the agreement approved by the Parliament. While the MCC is in the implementation phase, there are still some obstructions in the land acquisition process. Due to this, the cost of the project is likely to increase.</span></span></span></span></p> <p> </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"">There is also doubt if the project will be completed within five years.</span></span></span></span></p> <p> </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"">If the MCC project is not completed within five years, the Government of Nepal will have to bear the responsibility for the rest of the work.</span></span></span></span></p> <p> </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"">If it is not completed on time, there is a risk that the government will have to bear the financial burden and other responsibilities later, said a senior official of MCA Nepal.</span></span></span></span></p> <p> </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 agencies should help MCA Nepal to solve the problem of land acquisition,” said the official, adding, "It is not clear how the government will proceed with the land acquisition This has increased the risk of liability increasing later.”</span></span></span></span></p> <p> </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 process for land acquisition has progressed in Chitwan and Nawalparasi but obstacles remain in some places.</span></span></span></span></p> <p> </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"">Executive Director of MCA Nepal, Khadga Bahadur Bista said that the land acquisition process has progressed in nine districts. According to him, there is problem only in about 2 kilometres stretch of Kathmandu district. There is a dispute between the Nepal Electricity Authority and the locals. Although there was a plan to resolve the dispute and proceed with the work, it was not successful, said Bista.</span></span></span></span></p> <p> </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 process of land acquisition in 313 kilometres long area of the other nine districts has already progressed. The transmission line will touch 10 districts namely Kathmandu, Sindhupalchok, Nuwakot, Dhading, Makwanpur, Chitwan, Tanahun, Palpa, Nawalpur and Parasi. After completing the compensation work, it is ready to go into full implementation in some of these districts.</span></span></span></span></p> <p> </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"">According to MCA Nepal, the selection of the company to build the transmission line under the MCC is also underway. Six proposals have been submitted for the construction of the transmission line.</span></span></span></span></p> <p> </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 bids invited globally, MCA Nepal has received proposals from Mega Engineering and Infrastructure Limited and Power Mech Projects Limited, a joint venture of Kalpataru Power Transmission Limited, KEC International Limited, Transrail Lighting Limited, Tata Projects Limited and Larsen & Turbay Limited. Evaluation of these proposals is underway. It is said that the company will be selected after proper evaluation.</span></span></span></span></p> <p> </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 has allocated a budget of Rs 10.84 billion to MCA Nepal for the current fiscal year.</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 will contribute Rs 2.21 billion while the MCC will fund Rs 8.63 billion. </span></span></span></span></p> <p> </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 of Nepal had reached an understanding with the US government in 2017 to undertake the MCC project which would cover construction of cross-border transmission lines and road expansion works</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18464', 'image' => '20230814042024_1691983136.1690248678.1681795913[1].jpg', 'article_date' => '2023-08-14 16:19:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18734', 'article_category_id' => '1', 'title' => 'Dusit Princess Launches Kibu Sky Lounge', 'sub_title' => '', 'summary' => 'August 14: The newly-opened Dusit Princess Kathmandu has unveiled the Kibu Sky Lounge within the hotel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 14: The newly-opened Dusit Princess Kathmandu has unveiled the Kibu Sky Lounge within the hotel premises. The lounge is based on the top floor of the hotel with cozy indoor corners and comfortable outdoor seating along with DJ deck. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the hotel, this captivating venue promises to redefine the city's scene with a blend of sophisticated ambiance, signature cocktails and handpicked menu inspired by Japanese, Italian and other delectable cuisine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement, Dusit Princess Kathmandu said that the Kibu Sky Lounge embraces the essence of elegance, offering patrons a breathtaking panoramic view of Kathmandu's skyline. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The highlight of Kibu Sky Lounge is its meticulously long bar with large digital screen, added the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“From tantalizing barbeques to innovative fusion dishes, the culinary offerings at Kibu are destined to captivate your palate,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the hotel, curated selection of cocktails, premium spirits, and an extensive wine list are available for connoisseurs and cocktail enthusiasts alike. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We're thrilled to introduce Kibu Sky Lounge to the Kathmandu community and beyond," says Dorje Lama, managing director of Dusit Princess Kathmandu. "With its prime location on the top floor, Kibu promises a unique blend of breathtaking views, handcrafted beverages, and culinary delights, making it an ideal destination for those seeking unforgettable nights out."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The lounge will operate every day from 5PM to 2AM.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18463', 'image' => '20230814040129_Image 2.jpg', 'article_date' => '2023-08-14 16:00:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18733', 'article_category_id' => '1', 'title' => 'Landslides Block Highways in Nine Places Across Nepal ', 'sub_title' => '', 'summary' => 'August 14: Monsoon-induced landslides have led to the obstruction of highways and road sections in nine different locations across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Monsoon-induced landslides have led to the obstruction of highways and road sections in nine different locations across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Continuous rainfall triggered landslides, resulting in the obstructions of highways in various districts including Darchula, Sindhupalchowk, Mugu, Dadheldhura, Palpa, Rolpa, and Rukum (East), as confirmed by the Police Headquarters in Naxal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Gokuleshwar-Darchula Highway in Darchula, Melamchi-Helambu road section and Melamchi- Bhotang road section in Sindhupalchowk, Jumla-Nagma-Mugu road section in Mugu, Dadheldhura-Dipayal road section in Dadheldhura and Bhimdutta Highway have been obstructed, the police headquarters said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Siddhartha Highway in Palpa, Shahidmarga road section in Rolpa and Mid-Hill Highway in Rukum (East) have also been obstructed by landslides, thereby, affecting vehicular movement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Efforts are underway to clear off the landslide debris and restore the traffic along the obstructed highways and road sections, police said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => 'disaster, rainfall, highway, obstruction, Nepal, induced, block', 'description' => '', 'sortorder' => '18462', 'image' => '20230814022232_KN-Damauli-image_6483441.JPG', 'article_date' => '2023-08-14 14:21:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18732', 'article_category_id' => '1', 'title' => 'Government Report Recommends Prioritizing PPA for State-Sponsored Hydropower Projects', 'sub_title' => '', 'summary' => 'August 14: At a time when the private sector’s investment in the hydropower sector as well as production is increasing, the government has prepared a report that recommends giving priority to government funded projects for power purchase and sale agreement (PPA).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 14: At a time when the private sector’s investment in the hydropower sector as well as production is increasing, the government has prepared a report that recommends giving priority to government funded projects for power purchase and sale agreement (PPA). </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report has recommended giving priority to projects of Nepal Electricity Authority (NEA) and its subsidiaries and government-owned companies for PPA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The 'Report on Policy Arrangements Regarding Power Purchase and Sale Agreement-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">' prepared a committee headed by Joint Secretary of the Ministry of Energy, Water Resources and Irrigation, Sandeep Kumar Dev, made such a recommendation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After publishing the report of the committee formed by the government, the Independent Power Producers Association of Nepal (IPPAN) expressed discontent with the recommendation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Karki, president of IPPAN, said that it is not fair that the private sector projects that have already invested millions of rupees are not prioritized for the PPA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">IPPAN held a press conference in Kathmandu on Sunday to publicize its views on the report. On the occasion, Karki said, "PPA should be done on a first-come, first-served basis." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee has made </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> recommendations including PPA. Similarly, IPPAN said that that the committee’s recommendation to cancel the survey license and PPA of the projects that have failed to secure financial resources within a certain period is not justifiable in the current situation. </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">IPPAN demanded the government grant a special extension period of one year for projects that could not achieve financial closure due to Covid-19 and lack of liquidity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">IPPAN has suggested that the period of financial management should be fixed for </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""> years for projects up 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""> MW and for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years for 100 to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MW projects and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years for projects above </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MW. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the report of the committee, it is recommended to manage the financial management within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years from the date of completion of PPA for projects up 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""> MW and within </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""> years from the date of completion of PPA for projects above </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""> MW. It has been mentioned that if there is no financial management during this period, regardless of what is written in the production license and PPA, the authority may cancel the PPA and confiscate the bank guarantee of the project.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Mohan Kumar Dangi, senior vice president of IPPAN, said that the provision of allowing the return on equity (ROE) of 17 percent and more for large projects has come as per the demand of the private sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee formed by the government has given priority to the government's projects in the PPA, but has recommended to encourage small investors from the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It has been mentioned that ROR and PROR hydropower projects with a connected capacity of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts will be given priority over larger projects. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal as set a target to produce </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</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"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts of electricity by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2028. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal has already signed an agreement with India to achieve this goal and to export up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts of electricity from Nepal to India.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18461', 'image' => '20230814121559_hydro.jpg', 'article_date' => '2023-08-14 12:14:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18731', 'article_category_id' => '1', 'title' => 'Government Forms Taskforce to Address the Demands of Contractors ', 'sub_title' => '', 'summary' => 'August 14: The government has formed a taskforce to address the problems faced by the construction entrepreneurs.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: The government has formed a taskforce to address the problems faced by the construction entrepreneurs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Office of the Prime Minister and Council of Ministers (OPMCM) confirmed that a six-member taskforce has been formed under the coordination of Public Procurement Monitoring Office Secretary Dr Damodar Regmi with join-secretaries of line ministries as members in order to resolve the problems. The taskforce comprises representatives from the ministry of finance, physical infrastructure and, urban development among others. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee is mandated to submit a report within 15 days after conducting necessary consultations and coordination with all stakeholders, said Narayan Prasad Bhatta, spokesperson for the OPMCM. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The contractors have been voicing their concerns over the issue of non-payment of their completed works by the government. This has resulted in other problems amid rising inflation, say the agitating contractors. </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"">OPMCM Spokesperson Bhatta said that Prime Minister Pushpa Kamal Dahal has directed the Ministry of Finance and other line ministries to promptly address the demands, including payment of completed works of the contractors. He added that Prime Minister Dahal was serious about addressing several demands of the contractors. </span></span></span><br /> </p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18460', 'image' => '20230814112332_92875562_101727424839026_8489939004500738048_n.jpg', 'article_date' => '2023-08-14 11:22:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18730', 'article_category_id' => '1', 'title' => 'Koshi River’s Water Current Highest in 34 Years, all 56 Sluice Gates Opened ', 'sub_title' => '', 'summary' => 'August 14: Water current of the Saptakoshi River in Sunsari has reached the highest level this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Water current of the Saptakoshi River in Sunsari has reached the highest level this year, according to the latest measurement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police (DSP) of the District Police Office, Saptari, Naresh Kumar Singh, informed that water level has gone up in the Koshi barrage due to incessant rainfall in the mountainous area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the water level alarmingly rising, all 56 sluice gates of the Koshi barrage have been kept open, informed the police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing that a red light has been issued to mark danger in the barrage, DSP Singh said water current was measured at 462,000 cu sec in the river at 4.00 am this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the water current is declining now. In 1989, the Saptakoshi River had witnessed water current measurement of 472,000 cu sec. This morning, the water current of 462,000 cu sec was almost close to the mark of 1989. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Koshi saw such a higher level of water current after 34 years. Local administration has urged the residents near the river basins to adopt safety measures with the rise in the water current in the Saptakoshi. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18459', 'image' => '20230814104459_115931986_3859907530702809_6841247244640180715_n.jpg', 'article_date' => '2023-08-14 10:42:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18729', 'article_category_id' => '1', 'title' => 'Mustang Floods Sweep away 10 Houses, Police Post and Bridge ', 'sub_title' => '', 'summary' => 'August 14: Floods that occurred in Kagbeni of Baragung Muktichhetra Rrural Municipality-4 in Mustang district on Sunday evening swept away 10 houses, a police post and a bridge. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Floods that occurred in Kagbeni of Baragung Muktichhetra Rrural Municipality-4 in Mustang district on Sunday evening swept away 10 houses, a police post and a bridge. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flood-fed Kag rivulet, that sneaked into the human settlement in Kagbeni, a popular religious site, at 8.00 pm last night caused damages to the physical infrastructures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Muktichhetra Rural municipality Rinjin Gurung shared that the flood took away 10 houses including hotels, a police post, an under-construction motorable bridge on Jomsom-Korala road, a trail bridge, two vehicles and three electricity poles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Human loss was narrowly escaped due to timely evacuation of people after getting information about imminent flood. The flood took place after the Tiri rivulet above Kagbeni was blocked, resulting in a flash flood," he shared, adding, "It has buried houses in Kagbeni. Flood has put human settlement in a mess". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer Anup KC said the Nepalese Army, Armed Police Force and Nepal Police along with the people's representatives are being mobilized in the field for rescue operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flood in the Panda stream has caused trouble to the security personnel to reach Kagbeni through Jomsom. The road leading to the Upper Mustang via Kagbeni has been obstructed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mustang has witnessed incessant rain for the past couple of days. Water level has also increased in other rivulets of Mustang due to the incessant rain. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => 'Flood, Mustang, Kagbeni, Nepal, flash, Army, rescue, Armed, Police', 'description' => '', 'sortorder' => '18458', 'image' => '20230814022455_RSS_Mustang-Kagbenifoodgharmabadipasako.jpg', 'article_date' => '2023-08-14 10:31:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18728', 'article_category_id' => '1', 'title' => 'Finance Minister Dr Mahat Consults Bankers on Current Challenges Seen in BFIS', 'sub_title' => '', 'summary' => 'Finance Minister Dr Prakash Sharan Mahat on Sunday held a meeting with the bankers to discuss the challenges facing the banking system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: Finance Minister Dr Prakash Sharan Mahat on Sunday held a meeting with the bankers to discuss the challenges facing the banking system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The meeting, which saw the participation of CEOs of the commercial banks at the Ministry of Finance, delved into reasons for limited demand for loan despite sufficient liquidity in the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the recent days, the finance minister is holding consultations with the representatives of the private sector, donor agencies, regulatory bodies and other stakeholders regarding the interventions to be taken for reforms in economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Mahat posed pertinent questions to the participants: "Why has demands for loan not increased in the banks and financial institutions? How the banking sector can help in making economy floating? What the government and Nepal Rastra Bank should do to end the existing status?" </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the session, Sunil KC, Chairman of the Nepal Banker's Association, expressed concerns over the waning confidence levels in both the private sector and the banking industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KC also cited confusion stemming from the taxation applied to FPOs (Further Public Offerings).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, KC highlighted that funds held at the local level should be accounted for as deposits, emphasizing that approximately Rs 150 billion in deposits has dwindled since the commencement of the current fiscal year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KC predicted a downward trend in interest rates, with the possibility of rates reaching single digit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bankers suggested that the plotting of the land should be opened and the real estate market should be relaxed and loan to the small and medium enterprises should be simplified. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18457', 'image' => '20230814060959_collage (13).jpg', 'article_date' => '2023-08-14 06:07:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18742', 'article_category_id' => '1', 'title' => 'PM Consults with Private Sector in a Bid to Improve Economy ', 'sub_title' => '', 'summary' => 'August 15: The government has started holding discussions with stakeholders including the private sector, donor agencies, development partners and regulatory bodies after expected improvement was not seen in economy despite government's positive interventions. ', '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 government has started holding discussions with stakeholders including the private sector, donor agencies, development partners and regulatory bodies after expected improvement was not seen in economy despite government's positive interventions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is consulting with stakeholders as the market could not remain vibrant despite various reform measures to accelerate the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Monday met with the representatives of different umbrella organizations of the private sector to seek their suggestion to bring the economy on track. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal invited the representatives of the Federation of Nepalese Chambers of Commerce and Industries (NFCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the private sector leaders suggested that boosting the morale of the private sector was imperative to improve the country's economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Confidence of the general public has decreased and the morale of businessmen has gone down. The problem has surfaced after both government and private sector could not increase investment," the private sector's representatives said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Lack of demand in market despite increased remittance inflows and arrival of tourists has added challenges to the entrepreneurs," they added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They pointed out that the financial institutions have not been able to flow funds due to limited capital expenditure, high interest rate and some arrangements in the monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector demanded immediate payment of dues of the construction entrepreneurs, policy-level stability and environment conducive to attract foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisations also suggested that the government should encourage the private sector to bring in money from abroad by conducting the country's sovereign credit rating. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Regular supply of power at industrial corridor, participation of private sector in construction of transmission lines and opening the land plotting are other demands of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector also asked the government to make Bilateral Investment Promotion and Protection Agreement in the context that countries from the Middle East region are willing to invest in Nepal. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18471', 'image' => '20230815011333_PRO-Ktm-066A8805.jpg', 'article_date' => '2023-08-15 13:12:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18741', 'article_category_id' => '1', 'title' => 'Ruling Alliance Rejects Formation of High-Level Probe Commission on Recent Gold Scam ', 'sub_title' => '', 'summary' => 'August 15: A meeting of the top leaders of the ruling coalition has concluded that a high-level probe commission is not necessary to investigate into the recent gold scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: A meeting of the top leaders of the ruling coalition has concluded that a high-level probe commission is not necessary to investigate into the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting held at prime minister’s official residence in Baluwatar on Monday, discussions were held on contemporary political issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the leaders agreed that it was not necessary to form a high-level probe commission on the recent gold scam as demanded by the main opposition CPN (UML) in order to end the parliament obstruction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Whip of the Nepali Congress, Ramesh Lekhak, said the Central Investigation Bureau of the Nepal Police has been carrying out investigation into the scam, adding the formation of a high-level commission might obstruct the work of the CIB and distract the issue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Briefing about the meeting, he said, "The meeting concluded that the demand for formation of a high-level probe commission is to obstruct the ongoing investigation and divert the issue." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak further said that investigation regarding the alleged involvement of former Speaker and CPN (Maoist Centre) Spokesperson, Krishna Bahadur Mahara was underway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, discussions were also held on Gaur massacre, he shared, adding that the meeting also discussed that the government should finalize the Gaur massacre in accordance with the law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting also discussed about Lalita Niwas land scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the CPN (Maoist Centre) and Prime Minister Pushpa Kamal Dahal, Nepali Congress President Sher Bahadur Deuba, CPN (Unified Socialist) Chairman Madhav Kumar Nepal, Chairperson of Loktantrik Samajbadi Party Mahantha Thakur and other leaders were present during the meeting. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18470', 'image' => '20230815125402_PRO-Ktm-066A8936.jpg', 'article_date' => '2023-08-15 12:53:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18740', 'article_category_id' => '251', 'title' => 'Pertinence of Independent Commission to Probe Gold Confiscated from TIA Premises', 'sub_title' => '', 'summary' => '"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Department of Revenue Investigation seized approximately 61 kg from Tribhuvan International Airport in the evening of July 19. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off, the department intercepted the precious metal from a taxi about to exit the TIA customs area. The smuggling of a massive quantity of gold from the customs clearance without its detection has sent waves across the political and business circles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This substantial seizure of gold underscores the prevalent belief that corruption is deeply rooted and financial irregularities are entrenched within the government mechanisms and bureaucrats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discovery of smuggled 61 kg of gold has led to a face-off between the main opposition party, CPN-UML, and the coalition government in the parliament.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrarily, the government has chosen to dismiss the opposition's call for the formation of an investigation committee to delve into the gold smuggling incident. The huge cache of the gold was captured by the Department of Revenue Investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the directive of the Prime Minister Pushpa Kamal Dahal, the department has handed over the all the files and evidences collected into the incident to the CIB to go deeper into the case and dig out the truth stating that the incident draws to the organized crime due to the complexities of the scandal and wide connection of the scam. </span></span></p> <p><strong><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". </span></span></strong></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Home Minister Narayankaji Shrestha, addressing the House of Representatives, asserted the capability of existing government agencies like the Central Investigation Bureau (CIB) and Nepal Police to comprehensively investigate the incident and unveil the truth. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Shrestha proposed that the opposition party grant a 35-day period for the government's CIB to conduct its inquiry into the 61 kg gold affair.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Amidst this backdrop, the question arises: Is it appropriate and necessary to establish a dedicated probe commission to investigate the gold scandal? Can not the Nepal Police and CIB, which are established to investigate and control the crimes, effectively delve into the depths of the incident and unearth the facts? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Before addressing these inquiries, it is crucial to examine the various government bodies that have been established to combat corruption and irregularities within the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the era of the Panchayat regime, the creation of the Special Police Department (later known as the National Vigilance Centre) aimed to combat minor instances of corruption, while the Royal Palace established the Janch-buj Kendra to address major cases of corruption. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Subsequently, the CPAA was introduced in 1975 with extensive authority to investigate, prosecute, and adjudicate corruption-related crimes, evolving into the present-day CIAA after the restoration of democracy in 1990.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Commission for the Investigation of Authority (CIAA) serves as the apex constitutional body responsible for combating corruption within the Government of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Empowered by the Constitution of Nepal 2072, the CIAA is authorized to investigate cases involving public officials and their associates engaged in authority abuse through corrupt practices. Another anti-corruption entity, the National Vigilance Centre (NVC), was established in accordance with the Anti-Corruption Act, 2059 B.S., with the goal of promoting good governance, economic discipline, and transparency. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Money Laundering Investigation (DMLI), formed in 2011, focuses on combating money laundering, terrorist financing, and illicit earnings. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Central Investigation Bureau (CIB), a division of Nepal Police, possesses the mandate to investigate severe crimes, including financial irregularities and smuggling.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A substantial fund from taxpayers is channeled into the remuneration and benefits of individuals working within government agencies dedicated to combating corruption, irregularities, and other illicit activities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> These agencies have employed numerous professionals, each trained to combat corruption, address anomalies, and curb unlawful behaviors, including instances of financial irregularities and the smuggling of valuable metals such as gold within the nation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of this, it becomes a matter of prudence for the government to strategically allocate the requisite and ample resources needed to empower these anti-graft bodies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">By doing so, these agencies can effectively and efficiently execute their responsibilities, contributing to a more transparent and accountable government functioning. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The question now arises: Would an independent body, as demanded by the opposition, be more adept at investigating the 61 kg gold smuggling incident through Tribhuvan International Airport (TIA)? Is it judicious to bypass existing government entities, designed to combat corruption and anomalies, in favor of establishing a separate investigative commission? Historical instances of independent commissions have not set an encouraging precedent.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A case in point is the wide-body aircraft scandal. A parliamentary sub-committee exposed irregularities worth Rs 4.35 billion in the procurement of wide-body aircraft deals, implicating the sitting tourism minister, the NAC managing director, and several government officials, including former tourism ministers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>The demand to form a sepearte commission to investigate the gold arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the government formed an independent commission led by former chief judge Govinda Prasad Parajuli. The commission was given a 45-day timeline to submit its findings, seemingly to quell opposition voices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The principal opposition party, CPN-UML, has persistently demanded the establishment of an independent commission or committee to investigate the issue at hand. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This demand arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, CPN-UML's push for an independent commission serves a broader political agenda. It appears that the party is aiming to sow discord among the ruling coalition partners, particularly the Nepali Congress and CPN-UML. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">T</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">he arrest of Nepali Congress lawmaker Sunil Sharma by the Central Investigation Bureau provided the opposition with a rallying point. The main opposition leveraged the arrest to fuel their sentiment, showcasing CPN-UML's efforts to create fractures within the coalition partners.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The overt praise and public hobnobbing of Sunil Sharma and KP Oli suggest that Oli is resolute and shrewd availing every opportunity to destabilize the coalition partnership and unseat the collation government at any cost. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even if the government concedes and forms an independent commission, the commission's effectiveness could be marred by delays. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Negotiations surrounding the commission's mandate, membership, and jurisdiction could lead to substantial time consumption.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18469', 'image' => '20230815060756_collage (15).jpg', 'article_date' => '2023-08-15 05:55:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18739', 'article_category_id' => '1', 'title' => 'Gold Confiscated from TIA Premises Weighs 60.789 kg', 'sub_title' => '', 'summary' => 'The gold confiscated by the Department of Revenue Investigation some days ago from the Tribhuvan International Airport(TIA) premises weighs a total of 60.789 kilograms. The gold was smuggled to Nepal from Hong Kong by hiding inside brake shoes of motorcycles.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The gold confiscated by the Department of Revenue Investigation some days ago from the Tribhuvan International Airport(TIA) premises weighs a total of 60.789 kilograms. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gold was smuggled to Nepal from Hong Kong by hiding inside brake shoes of motorcycles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Thaneshwor Acharya, the Chief of the Mint Division at Nepal Rastra Bank, the provided weight is provisional as the accurate measurement will only be ascertained after the gold undergoes the melting process. The melting of the gold is scheduled to commence on Tuesday at 10:30 am.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the determination of the gold's monetary value will be finalized post the melting procedure, which is anticipated to require a day's time. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It would take three days to carry out the comprehensive assessment of the gold's monetary value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department had seized 155 kilogramme of brake shoes with gold attached from TIA premises on July 19. The seized brake shoes were kept at the Mint Division. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Revenue Investigation had handed over the responsibility to investigate the gold smuggling to the Central Investigation Bureau (CIB) of Nepal Police. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18468', 'image' => '20230815054933_collage (14).jpg', 'article_date' => '2023-08-15 05:48:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18738', 'article_category_id' => '1', 'title' => 'Contracts of Stalled Projects will be Terminated: Minister Mahat', 'sub_title' => '', 'summary' => 'August 14: Finance Minister Dr Prakash Sharan Mahat has made it clear that the contracts of projects failing to report the progress will be terminated.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">August 14: Finance Minister Dr Prakash Sharan Mahat has made it clear that the contracts of projects failing to report the progress will be terminated.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">During a discussion with the protesting contractors at his office on Monday, the finance minister said that the government would clear the dues of the contractors, but it would not hesitate to cancel the contracts of the stalled projects. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"> In case of those projects for which the termination of the contracts is not a feasible option, he urged for the management of budget and the acceleration of the projects. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Federation of Contractors' Association of Nepal (FCAN) has been agitating since July 30, alleging the government's procrastination to release the payments. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18467', 'image' => '20230814093534_20230402035731_1680390939.prakash sharan mahat.jpg', 'article_date' => '2023-08-14 21:34:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18737', 'article_category_id' => '1', 'title' => 'Six Employees of the Citizens Bank International Held', 'sub_title' => '', 'summary' => 'The police have arrested six employees of Citizens Bank International on the charge of possessing fake educational certificates.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: The police have arrested six employees of Citizens Bank International on the charge of possessing fake educational certificates. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off that employees have been working by furnishing counterfeit certificates, six employees have been nabbed from various branches of the bank, said Superintendent of Police (SP) Dan Bahadur Karki, Chief of the District Police Office in Kathmandu. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The incident is currently under investigation, police said. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18466', 'image' => '20230814061509_collage (12).jpg', 'article_date' => '2023-08-14 18:14:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18736', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 3.61 Points to Close at 2077.24 Points', 'sub_title' => '', 'summary' => 'he Nepal Stock Exchange(NEPSE) Index, which posted the rise of 61 points from three days’ continuous increase, witnessed a normal correction on the second trading day on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: The Nepal Stock Exchange(NEPSE) Index, which posted the rise of 61 points from three days’ continuous increase, witnessed a normal correction on the second trading day on Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In today's trading session, the Nepal Stock Exchange (NEPSE) Index shed 3.61 points or 0.17 percent and closed at 2077.24 points. On the last trading day, the index experienced a gain of 14.81 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, a total of 279 scrips exchanged their hands through 68,842 transactions. As many as 5,417,928 shares were traded amounting to Rs 2.09 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">IME Life Insurance Company Limited (ILI) recorded the highest turnover of Rs. 11.24 crores and closed at a market price of Rs. 589.90.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Three Star Hydropower Limited (TSHL) gained the highest 9.98% to close at Rs. 308.50.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Siddhartha Premier Insurance Limited (SPIL) lost the highest 6.46% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Five sector indices closed in the green zone while the remaining closed in the red. Manufacturing and Processing Index gained the most with 0.65 percent positive change while Hydropower Index lost the most 1.59%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index increased by 0.01 and 0.10 percent respectively, while Float Index dropped by 0.19 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18465', 'image' => '20230814045753_collage (11).jpg', 'article_date' => '2023-08-14 16:56:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18735', 'article_category_id' => '1', 'title' => 'Implementation of MCC in Full Swing from mid-August', 'sub_title' => '', 'summary' => 'August 14: The US-funded Millennium Challenge Corporation (MCC) will be fully implemented from mid-August. ', '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 14: The US-funded Millennium Challenge Corporation (MCC) will be fully implemented from mid-August. The Millennium Challenge Account Nepal (MCA Nepal), the body responsible for implementing the agreement, has made final preparations to implement the agreement approved by the Parliament. While the MCC is in the implementation phase, there are still some obstructions in the land acquisition process. Due to this, the cost of the project is likely to increase.</span></span></span></span></p> <p> </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"">There is also doubt if the project will be completed within five years.</span></span></span></span></p> <p> </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"">If the MCC project is not completed within five years, the Government of Nepal will have to bear the responsibility for the rest of the work.</span></span></span></span></p> <p> </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"">If it is not completed on time, there is a risk that the government will have to bear the financial burden and other responsibilities later, said a senior official of MCA Nepal.</span></span></span></span></p> <p> </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 agencies should help MCA Nepal to solve the problem of land acquisition,” said the official, adding, "It is not clear how the government will proceed with the land acquisition This has increased the risk of liability increasing later.”</span></span></span></span></p> <p> </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 process for land acquisition has progressed in Chitwan and Nawalparasi but obstacles remain in some places.</span></span></span></span></p> <p> </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"">Executive Director of MCA Nepal, Khadga Bahadur Bista said that the land acquisition process has progressed in nine districts. According to him, there is problem only in about 2 kilometres stretch of Kathmandu district. There is a dispute between the Nepal Electricity Authority and the locals. Although there was a plan to resolve the dispute and proceed with the work, it was not successful, said Bista.</span></span></span></span></p> <p> </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 process of land acquisition in 313 kilometres long area of the other nine districts has already progressed. The transmission line will touch 10 districts namely Kathmandu, Sindhupalchok, Nuwakot, Dhading, Makwanpur, Chitwan, Tanahun, Palpa, Nawalpur and Parasi. After completing the compensation work, it is ready to go into full implementation in some of these districts.</span></span></span></span></p> <p> </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"">According to MCA Nepal, the selection of the company to build the transmission line under the MCC is also underway. Six proposals have been submitted for the construction of the transmission line.</span></span></span></span></p> <p> </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 bids invited globally, MCA Nepal has received proposals from Mega Engineering and Infrastructure Limited and Power Mech Projects Limited, a joint venture of Kalpataru Power Transmission Limited, KEC International Limited, Transrail Lighting Limited, Tata Projects Limited and Larsen & Turbay Limited. Evaluation of these proposals is underway. It is said that the company will be selected after proper evaluation.</span></span></span></span></p> <p> </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 has allocated a budget of Rs 10.84 billion to MCA Nepal for the current fiscal year.</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 will contribute Rs 2.21 billion while the MCC will fund Rs 8.63 billion. </span></span></span></span></p> <p> </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 of Nepal had reached an understanding with the US government in 2017 to undertake the MCC project which would cover construction of cross-border transmission lines and road expansion works</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18464', 'image' => '20230814042024_1691983136.1690248678.1681795913[1].jpg', 'article_date' => '2023-08-14 16:19:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18734', 'article_category_id' => '1', 'title' => 'Dusit Princess Launches Kibu Sky Lounge', 'sub_title' => '', 'summary' => 'August 14: The newly-opened Dusit Princess Kathmandu has unveiled the Kibu Sky Lounge within the hotel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 14: The newly-opened Dusit Princess Kathmandu has unveiled the Kibu Sky Lounge within the hotel premises. The lounge is based on the top floor of the hotel with cozy indoor corners and comfortable outdoor seating along with DJ deck. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the hotel, this captivating venue promises to redefine the city's scene with a blend of sophisticated ambiance, signature cocktails and handpicked menu inspired by Japanese, Italian and other delectable cuisine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement, Dusit Princess Kathmandu said that the Kibu Sky Lounge embraces the essence of elegance, offering patrons a breathtaking panoramic view of Kathmandu's skyline. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The highlight of Kibu Sky Lounge is its meticulously long bar with large digital screen, added the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“From tantalizing barbeques to innovative fusion dishes, the culinary offerings at Kibu are destined to captivate your palate,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the hotel, curated selection of cocktails, premium spirits, and an extensive wine list are available for connoisseurs and cocktail enthusiasts alike. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We're thrilled to introduce Kibu Sky Lounge to the Kathmandu community and beyond," says Dorje Lama, managing director of Dusit Princess Kathmandu. "With its prime location on the top floor, Kibu promises a unique blend of breathtaking views, handcrafted beverages, and culinary delights, making it an ideal destination for those seeking unforgettable nights out."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The lounge will operate every day from 5PM to 2AM.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18463', 'image' => '20230814040129_Image 2.jpg', 'article_date' => '2023-08-14 16:00:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18733', 'article_category_id' => '1', 'title' => 'Landslides Block Highways in Nine Places Across Nepal ', 'sub_title' => '', 'summary' => 'August 14: Monsoon-induced landslides have led to the obstruction of highways and road sections in nine different locations across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Monsoon-induced landslides have led to the obstruction of highways and road sections in nine different locations across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Continuous rainfall triggered landslides, resulting in the obstructions of highways in various districts including Darchula, Sindhupalchowk, Mugu, Dadheldhura, Palpa, Rolpa, and Rukum (East), as confirmed by the Police Headquarters in Naxal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Gokuleshwar-Darchula Highway in Darchula, Melamchi-Helambu road section and Melamchi- Bhotang road section in Sindhupalchowk, Jumla-Nagma-Mugu road section in Mugu, Dadheldhura-Dipayal road section in Dadheldhura and Bhimdutta Highway have been obstructed, the police headquarters said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Siddhartha Highway in Palpa, Shahidmarga road section in Rolpa and Mid-Hill Highway in Rukum (East) have also been obstructed by landslides, thereby, affecting vehicular movement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Efforts are underway to clear off the landslide debris and restore the traffic along the obstructed highways and road sections, police said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => 'disaster, rainfall, highway, obstruction, Nepal, induced, block', 'description' => '', 'sortorder' => '18462', 'image' => '20230814022232_KN-Damauli-image_6483441.JPG', 'article_date' => '2023-08-14 14:21:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18732', 'article_category_id' => '1', 'title' => 'Government Report Recommends Prioritizing PPA for State-Sponsored Hydropower Projects', 'sub_title' => '', 'summary' => 'August 14: At a time when the private sector’s investment in the hydropower sector as well as production is increasing, the government has prepared a report that recommends giving priority to government funded projects for power purchase and sale agreement (PPA).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 14: At a time when the private sector’s investment in the hydropower sector as well as production is increasing, the government has prepared a report that recommends giving priority to government funded projects for power purchase and sale agreement (PPA). </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report has recommended giving priority to projects of Nepal Electricity Authority (NEA) and its subsidiaries and government-owned companies for PPA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The 'Report on Policy Arrangements Regarding Power Purchase and Sale Agreement-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">' prepared a committee headed by Joint Secretary of the Ministry of Energy, Water Resources and Irrigation, Sandeep Kumar Dev, made such a recommendation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After publishing the report of the committee formed by the government, the Independent Power Producers Association of Nepal (IPPAN) expressed discontent with the recommendation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Karki, president of IPPAN, said that it is not fair that the private sector projects that have already invested millions of rupees are not prioritized for the PPA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">IPPAN held a press conference in Kathmandu on Sunday to publicize its views on the report. On the occasion, Karki said, "PPA should be done on a first-come, first-served basis." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee has made </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> recommendations including PPA. Similarly, IPPAN said that that the committee’s recommendation to cancel the survey license and PPA of the projects that have failed to secure financial resources within a certain period is not justifiable in the current situation. </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">IPPAN demanded the government grant a special extension period of one year for projects that could not achieve financial closure due to Covid-19 and lack of liquidity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">IPPAN has suggested that the period of financial management should be fixed for </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""> years for projects up 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""> MW and for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years for 100 to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MW projects and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years for projects above </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MW. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the report of the committee, it is recommended to manage the financial management within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years from the date of completion of PPA for projects up 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""> MW and within </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""> years from the date of completion of PPA for projects above </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""> MW. It has been mentioned that if there is no financial management during this period, regardless of what is written in the production license and PPA, the authority may cancel the PPA and confiscate the bank guarantee of the project.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Mohan Kumar Dangi, senior vice president of IPPAN, said that the provision of allowing the return on equity (ROE) of 17 percent and more for large projects has come as per the demand of the private sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee formed by the government has given priority to the government's projects in the PPA, but has recommended to encourage small investors from the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It has been mentioned that ROR and PROR hydropower projects with a connected capacity of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts will be given priority over larger projects. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal as set a target to produce </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</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"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts of electricity by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2028. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal has already signed an agreement with India to achieve this goal and to export up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts of electricity from Nepal to India.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18461', 'image' => '20230814121559_hydro.jpg', 'article_date' => '2023-08-14 12:14:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18731', 'article_category_id' => '1', 'title' => 'Government Forms Taskforce to Address the Demands of Contractors ', 'sub_title' => '', 'summary' => 'August 14: The government has formed a taskforce to address the problems faced by the construction entrepreneurs.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: The government has formed a taskforce to address the problems faced by the construction entrepreneurs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Office of the Prime Minister and Council of Ministers (OPMCM) confirmed that a six-member taskforce has been formed under the coordination of Public Procurement Monitoring Office Secretary Dr Damodar Regmi with join-secretaries of line ministries as members in order to resolve the problems. The taskforce comprises representatives from the ministry of finance, physical infrastructure and, urban development among others. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee is mandated to submit a report within 15 days after conducting necessary consultations and coordination with all stakeholders, said Narayan Prasad Bhatta, spokesperson for the OPMCM. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The contractors have been voicing their concerns over the issue of non-payment of their completed works by the government. This has resulted in other problems amid rising inflation, say the agitating contractors. </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"">OPMCM Spokesperson Bhatta said that Prime Minister Pushpa Kamal Dahal has directed the Ministry of Finance and other line ministries to promptly address the demands, including payment of completed works of the contractors. He added that Prime Minister Dahal was serious about addressing several demands of the contractors. </span></span></span><br /> </p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18460', 'image' => '20230814112332_92875562_101727424839026_8489939004500738048_n.jpg', 'article_date' => '2023-08-14 11:22:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18730', 'article_category_id' => '1', 'title' => 'Koshi River’s Water Current Highest in 34 Years, all 56 Sluice Gates Opened ', 'sub_title' => '', 'summary' => 'August 14: Water current of the Saptakoshi River in Sunsari has reached the highest level this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Water current of the Saptakoshi River in Sunsari has reached the highest level this year, according to the latest measurement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police (DSP) of the District Police Office, Saptari, Naresh Kumar Singh, informed that water level has gone up in the Koshi barrage due to incessant rainfall in the mountainous area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the water level alarmingly rising, all 56 sluice gates of the Koshi barrage have been kept open, informed the police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing that a red light has been issued to mark danger in the barrage, DSP Singh said water current was measured at 462,000 cu sec in the river at 4.00 am this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the water current is declining now. In 1989, the Saptakoshi River had witnessed water current measurement of 472,000 cu sec. This morning, the water current of 462,000 cu sec was almost close to the mark of 1989. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Koshi saw such a higher level of water current after 34 years. Local administration has urged the residents near the river basins to adopt safety measures with the rise in the water current in the Saptakoshi. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18459', 'image' => '20230814104459_115931986_3859907530702809_6841247244640180715_n.jpg', 'article_date' => '2023-08-14 10:42:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18729', 'article_category_id' => '1', 'title' => 'Mustang Floods Sweep away 10 Houses, Police Post and Bridge ', 'sub_title' => '', 'summary' => 'August 14: Floods that occurred in Kagbeni of Baragung Muktichhetra Rrural Municipality-4 in Mustang district on Sunday evening swept away 10 houses, a police post and a bridge. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Floods that occurred in Kagbeni of Baragung Muktichhetra Rrural Municipality-4 in Mustang district on Sunday evening swept away 10 houses, a police post and a bridge. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flood-fed Kag rivulet, that sneaked into the human settlement in Kagbeni, a popular religious site, at 8.00 pm last night caused damages to the physical infrastructures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Muktichhetra Rural municipality Rinjin Gurung shared that the flood took away 10 houses including hotels, a police post, an under-construction motorable bridge on Jomsom-Korala road, a trail bridge, two vehicles and three electricity poles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Human loss was narrowly escaped due to timely evacuation of people after getting information about imminent flood. The flood took place after the Tiri rivulet above Kagbeni was blocked, resulting in a flash flood," he shared, adding, "It has buried houses in Kagbeni. Flood has put human settlement in a mess". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer Anup KC said the Nepalese Army, Armed Police Force and Nepal Police along with the people's representatives are being mobilized in the field for rescue operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flood in the Panda stream has caused trouble to the security personnel to reach Kagbeni through Jomsom. The road leading to the Upper Mustang via Kagbeni has been obstructed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mustang has witnessed incessant rain for the past couple of days. Water level has also increased in other rivulets of Mustang due to the incessant rain. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => 'Flood, Mustang, Kagbeni, Nepal, flash, Army, rescue, Armed, Police', 'description' => '', 'sortorder' => '18458', 'image' => '20230814022455_RSS_Mustang-Kagbenifoodgharmabadipasako.jpg', 'article_date' => '2023-08-14 10:31:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18728', 'article_category_id' => '1', 'title' => 'Finance Minister Dr Mahat Consults Bankers on Current Challenges Seen in BFIS', 'sub_title' => '', 'summary' => 'Finance Minister Dr Prakash Sharan Mahat on Sunday held a meeting with the bankers to discuss the challenges facing the banking system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: Finance Minister Dr Prakash Sharan Mahat on Sunday held a meeting with the bankers to discuss the challenges facing the banking system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The meeting, which saw the participation of CEOs of the commercial banks at the Ministry of Finance, delved into reasons for limited demand for loan despite sufficient liquidity in the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the recent days, the finance minister is holding consultations with the representatives of the private sector, donor agencies, regulatory bodies and other stakeholders regarding the interventions to be taken for reforms in economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Mahat posed pertinent questions to the participants: "Why has demands for loan not increased in the banks and financial institutions? How the banking sector can help in making economy floating? What the government and Nepal Rastra Bank should do to end the existing status?" </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the session, Sunil KC, Chairman of the Nepal Banker's Association, expressed concerns over the waning confidence levels in both the private sector and the banking industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KC also cited confusion stemming from the taxation applied to FPOs (Further Public Offerings).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, KC highlighted that funds held at the local level should be accounted for as deposits, emphasizing that approximately Rs 150 billion in deposits has dwindled since the commencement of the current fiscal year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KC predicted a downward trend in interest rates, with the possibility of rates reaching single digit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bankers suggested that the plotting of the land should be opened and the real estate market should be relaxed and loan to the small and medium enterprises should be simplified. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18457', 'image' => '20230814060959_collage (13).jpg', 'article_date' => '2023-08-14 06:07:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', '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 government has started holding discussions with stakeholders including the private sector, donor agencies, development partners and regulatory bodies after expected improvement was not seen in economy despite government's positive interventions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is consulting with stakeholders as the market could not remain vibrant despite various reform measures to accelerate the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Monday met with the representatives of different umbrella organizations of the private sector to seek their suggestion to bring the economy on track. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal invited the representatives of the Federation of Nepalese Chambers of Commerce and Industries (NFCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the private sector leaders suggested that boosting the morale of the private sector was imperative to improve the country's economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Confidence of the general public has decreased and the morale of businessmen has gone down. The problem has surfaced after both government and private sector could not increase investment," the private sector's representatives said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Lack of demand in market despite increased remittance inflows and arrival of tourists has added challenges to the entrepreneurs," they added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They pointed out that the financial institutions have not been able to flow funds due to limited capital expenditure, high interest rate and some arrangements in the monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector demanded immediate payment of dues of the construction entrepreneurs, policy-level stability and environment conducive to attract foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisations also suggested that the government should encourage the private sector to bring in money from abroad by conducting the country's sovereign credit rating. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Regular supply of power at industrial corridor, participation of private sector in construction of transmission lines and opening the land plotting are other demands of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector also asked the government to make Bilateral Investment Promotion and Protection Agreement in the context that countries from the Middle East region are willing to invest in Nepal. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18471', 'image' => '20230815011333_PRO-Ktm-066A8805.jpg', 'article_date' => '2023-08-15 13:12:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18741', 'article_category_id' => '1', 'title' => 'Ruling Alliance Rejects Formation of High-Level Probe Commission on Recent Gold Scam ', 'sub_title' => '', 'summary' => 'August 15: A meeting of the top leaders of the ruling coalition has concluded that a high-level probe commission is not necessary to investigate into the recent gold scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: A meeting of the top leaders of the ruling coalition has concluded that a high-level probe commission is not necessary to investigate into the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting held at prime minister’s official residence in Baluwatar on Monday, discussions were held on contemporary political issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the leaders agreed that it was not necessary to form a high-level probe commission on the recent gold scam as demanded by the main opposition CPN (UML) in order to end the parliament obstruction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Whip of the Nepali Congress, Ramesh Lekhak, said the Central Investigation Bureau of the Nepal Police has been carrying out investigation into the scam, adding the formation of a high-level commission might obstruct the work of the CIB and distract the issue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Briefing about the meeting, he said, "The meeting concluded that the demand for formation of a high-level probe commission is to obstruct the ongoing investigation and divert the issue." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak further said that investigation regarding the alleged involvement of former Speaker and CPN (Maoist Centre) Spokesperson, Krishna Bahadur Mahara was underway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, discussions were also held on Gaur massacre, he shared, adding that the meeting also discussed that the government should finalize the Gaur massacre in accordance with the law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting also discussed about Lalita Niwas land scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the CPN (Maoist Centre) and Prime Minister Pushpa Kamal Dahal, Nepali Congress President Sher Bahadur Deuba, CPN (Unified Socialist) Chairman Madhav Kumar Nepal, Chairperson of Loktantrik Samajbadi Party Mahantha Thakur and other leaders were present during the meeting. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18470', 'image' => '20230815125402_PRO-Ktm-066A8936.jpg', 'article_date' => '2023-08-15 12:53:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18740', 'article_category_id' => '251', 'title' => 'Pertinence of Independent Commission to Probe Gold Confiscated from TIA Premises', 'sub_title' => '', 'summary' => '"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Department of Revenue Investigation seized approximately 61 kg from Tribhuvan International Airport in the evening of July 19. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off, the department intercepted the precious metal from a taxi about to exit the TIA customs area. The smuggling of a massive quantity of gold from the customs clearance without its detection has sent waves across the political and business circles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This substantial seizure of gold underscores the prevalent belief that corruption is deeply rooted and financial irregularities are entrenched within the government mechanisms and bureaucrats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discovery of smuggled 61 kg of gold has led to a face-off between the main opposition party, CPN-UML, and the coalition government in the parliament.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrarily, the government has chosen to dismiss the opposition's call for the formation of an investigation committee to delve into the gold smuggling incident. The huge cache of the gold was captured by the Department of Revenue Investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the directive of the Prime Minister Pushpa Kamal Dahal, the department has handed over the all the files and evidences collected into the incident to the CIB to go deeper into the case and dig out the truth stating that the incident draws to the organized crime due to the complexities of the scandal and wide connection of the scam. </span></span></p> <p><strong><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". </span></span></strong></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Home Minister Narayankaji Shrestha, addressing the House of Representatives, asserted the capability of existing government agencies like the Central Investigation Bureau (CIB) and Nepal Police to comprehensively investigate the incident and unveil the truth. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Shrestha proposed that the opposition party grant a 35-day period for the government's CIB to conduct its inquiry into the 61 kg gold affair.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Amidst this backdrop, the question arises: Is it appropriate and necessary to establish a dedicated probe commission to investigate the gold scandal? Can not the Nepal Police and CIB, which are established to investigate and control the crimes, effectively delve into the depths of the incident and unearth the facts? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Before addressing these inquiries, it is crucial to examine the various government bodies that have been established to combat corruption and irregularities within the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the era of the Panchayat regime, the creation of the Special Police Department (later known as the National Vigilance Centre) aimed to combat minor instances of corruption, while the Royal Palace established the Janch-buj Kendra to address major cases of corruption. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Subsequently, the CPAA was introduced in 1975 with extensive authority to investigate, prosecute, and adjudicate corruption-related crimes, evolving into the present-day CIAA after the restoration of democracy in 1990.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Commission for the Investigation of Authority (CIAA) serves as the apex constitutional body responsible for combating corruption within the Government of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Empowered by the Constitution of Nepal 2072, the CIAA is authorized to investigate cases involving public officials and their associates engaged in authority abuse through corrupt practices. Another anti-corruption entity, the National Vigilance Centre (NVC), was established in accordance with the Anti-Corruption Act, 2059 B.S., with the goal of promoting good governance, economic discipline, and transparency. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Money Laundering Investigation (DMLI), formed in 2011, focuses on combating money laundering, terrorist financing, and illicit earnings. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Central Investigation Bureau (CIB), a division of Nepal Police, possesses the mandate to investigate severe crimes, including financial irregularities and smuggling.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A substantial fund from taxpayers is channeled into the remuneration and benefits of individuals working within government agencies dedicated to combating corruption, irregularities, and other illicit activities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> These agencies have employed numerous professionals, each trained to combat corruption, address anomalies, and curb unlawful behaviors, including instances of financial irregularities and the smuggling of valuable metals such as gold within the nation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of this, it becomes a matter of prudence for the government to strategically allocate the requisite and ample resources needed to empower these anti-graft bodies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">By doing so, these agencies can effectively and efficiently execute their responsibilities, contributing to a more transparent and accountable government functioning. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The question now arises: Would an independent body, as demanded by the opposition, be more adept at investigating the 61 kg gold smuggling incident through Tribhuvan International Airport (TIA)? Is it judicious to bypass existing government entities, designed to combat corruption and anomalies, in favor of establishing a separate investigative commission? Historical instances of independent commissions have not set an encouraging precedent.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A case in point is the wide-body aircraft scandal. A parliamentary sub-committee exposed irregularities worth Rs 4.35 billion in the procurement of wide-body aircraft deals, implicating the sitting tourism minister, the NAC managing director, and several government officials, including former tourism ministers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>The demand to form a sepearte commission to investigate the gold arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the government formed an independent commission led by former chief judge Govinda Prasad Parajuli. The commission was given a 45-day timeline to submit its findings, seemingly to quell opposition voices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The principal opposition party, CPN-UML, has persistently demanded the establishment of an independent commission or committee to investigate the issue at hand. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This demand arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, CPN-UML's push for an independent commission serves a broader political agenda. It appears that the party is aiming to sow discord among the ruling coalition partners, particularly the Nepali Congress and CPN-UML. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">T</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">he arrest of Nepali Congress lawmaker Sunil Sharma by the Central Investigation Bureau provided the opposition with a rallying point. The main opposition leveraged the arrest to fuel their sentiment, showcasing CPN-UML's efforts to create fractures within the coalition partners.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The overt praise and public hobnobbing of Sunil Sharma and KP Oli suggest that Oli is resolute and shrewd availing every opportunity to destabilize the coalition partnership and unseat the collation government at any cost. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even if the government concedes and forms an independent commission, the commission's effectiveness could be marred by delays. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Negotiations surrounding the commission's mandate, membership, and jurisdiction could lead to substantial time consumption.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18469', 'image' => '20230815060756_collage (15).jpg', 'article_date' => '2023-08-15 05:55:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18739', 'article_category_id' => '1', 'title' => 'Gold Confiscated from TIA Premises Weighs 60.789 kg', 'sub_title' => '', 'summary' => 'The gold confiscated by the Department of Revenue Investigation some days ago from the Tribhuvan International Airport(TIA) premises weighs a total of 60.789 kilograms. The gold was smuggled to Nepal from Hong Kong by hiding inside brake shoes of motorcycles.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The gold confiscated by the Department of Revenue Investigation some days ago from the Tribhuvan International Airport(TIA) premises weighs a total of 60.789 kilograms. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gold was smuggled to Nepal from Hong Kong by hiding inside brake shoes of motorcycles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Thaneshwor Acharya, the Chief of the Mint Division at Nepal Rastra Bank, the provided weight is provisional as the accurate measurement will only be ascertained after the gold undergoes the melting process. The melting of the gold is scheduled to commence on Tuesday at 10:30 am.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the determination of the gold's monetary value will be finalized post the melting procedure, which is anticipated to require a day's time. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It would take three days to carry out the comprehensive assessment of the gold's monetary value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department had seized 155 kilogramme of brake shoes with gold attached from TIA premises on July 19. The seized brake shoes were kept at the Mint Division. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Revenue Investigation had handed over the responsibility to investigate the gold smuggling to the Central Investigation Bureau (CIB) of Nepal Police. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18468', 'image' => '20230815054933_collage (14).jpg', 'article_date' => '2023-08-15 05:48:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18738', 'article_category_id' => '1', 'title' => 'Contracts of Stalled Projects will be Terminated: Minister Mahat', 'sub_title' => '', 'summary' => 'August 14: Finance Minister Dr Prakash Sharan Mahat has made it clear that the contracts of projects failing to report the progress will be terminated.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">August 14: Finance Minister Dr Prakash Sharan Mahat has made it clear that the contracts of projects failing to report the progress will be terminated.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">During a discussion with the protesting contractors at his office on Monday, the finance minister said that the government would clear the dues of the contractors, but it would not hesitate to cancel the contracts of the stalled projects. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"> In case of those projects for which the termination of the contracts is not a feasible option, he urged for the management of budget and the acceleration of the projects. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Federation of Contractors' Association of Nepal (FCAN) has been agitating since July 30, alleging the government's procrastination to release the payments. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18467', 'image' => '20230814093534_20230402035731_1680390939.prakash sharan mahat.jpg', 'article_date' => '2023-08-14 21:34:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18737', 'article_category_id' => '1', 'title' => 'Six Employees of the Citizens Bank International Held', 'sub_title' => '', 'summary' => 'The police have arrested six employees of Citizens Bank International on the charge of possessing fake educational certificates.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: The police have arrested six employees of Citizens Bank International on the charge of possessing fake educational certificates. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off that employees have been working by furnishing counterfeit certificates, six employees have been nabbed from various branches of the bank, said Superintendent of Police (SP) Dan Bahadur Karki, Chief of the District Police Office in Kathmandu. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The incident is currently under investigation, police said. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18466', 'image' => '20230814061509_collage (12).jpg', 'article_date' => '2023-08-14 18:14:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18736', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 3.61 Points to Close at 2077.24 Points', 'sub_title' => '', 'summary' => 'he Nepal Stock Exchange(NEPSE) Index, which posted the rise of 61 points from three days’ continuous increase, witnessed a normal correction on the second trading day on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: The Nepal Stock Exchange(NEPSE) Index, which posted the rise of 61 points from three days’ continuous increase, witnessed a normal correction on the second trading day on Monday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In today's trading session, the Nepal Stock Exchange (NEPSE) Index shed 3.61 points or 0.17 percent and closed at 2077.24 points. On the last trading day, the index experienced a gain of 14.81 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, a total of 279 scrips exchanged their hands through 68,842 transactions. As many as 5,417,928 shares were traded amounting to Rs 2.09 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">IME Life Insurance Company Limited (ILI) recorded the highest turnover of Rs. 11.24 crores and closed at a market price of Rs. 589.90.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Three Star Hydropower Limited (TSHL) gained the highest 9.98% to close at Rs. 308.50.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Siddhartha Premier Insurance Limited (SPIL) lost the highest 6.46% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Five sector indices closed in the green zone while the remaining closed in the red. Manufacturing and Processing Index gained the most with 0.65 percent positive change while Hydropower Index lost the most 1.59%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index increased by 0.01 and 0.10 percent respectively, while Float Index dropped by 0.19 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18465', 'image' => '20230814045753_collage (11).jpg', 'article_date' => '2023-08-14 16:56:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18735', 'article_category_id' => '1', 'title' => 'Implementation of MCC in Full Swing from mid-August', 'sub_title' => '', 'summary' => 'August 14: The US-funded Millennium Challenge Corporation (MCC) will be fully implemented from mid-August. ', '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 14: The US-funded Millennium Challenge Corporation (MCC) will be fully implemented from mid-August. The Millennium Challenge Account Nepal (MCA Nepal), the body responsible for implementing the agreement, has made final preparations to implement the agreement approved by the Parliament. While the MCC is in the implementation phase, there are still some obstructions in the land acquisition process. Due to this, the cost of the project is likely to increase.</span></span></span></span></p> <p> </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"">There is also doubt if the project will be completed within five years.</span></span></span></span></p> <p> </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"">If the MCC project is not completed within five years, the Government of Nepal will have to bear the responsibility for the rest of the work.</span></span></span></span></p> <p> </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"">If it is not completed on time, there is a risk that the government will have to bear the financial burden and other responsibilities later, said a senior official of MCA Nepal.</span></span></span></span></p> <p> </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 agencies should help MCA Nepal to solve the problem of land acquisition,” said the official, adding, "It is not clear how the government will proceed with the land acquisition This has increased the risk of liability increasing later.”</span></span></span></span></p> <p> </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 process for land acquisition has progressed in Chitwan and Nawalparasi but obstacles remain in some places.</span></span></span></span></p> <p> </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"">Executive Director of MCA Nepal, Khadga Bahadur Bista said that the land acquisition process has progressed in nine districts. According to him, there is problem only in about 2 kilometres stretch of Kathmandu district. There is a dispute between the Nepal Electricity Authority and the locals. Although there was a plan to resolve the dispute and proceed with the work, it was not successful, said Bista.</span></span></span></span></p> <p> </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 process of land acquisition in 313 kilometres long area of the other nine districts has already progressed. The transmission line will touch 10 districts namely Kathmandu, Sindhupalchok, Nuwakot, Dhading, Makwanpur, Chitwan, Tanahun, Palpa, Nawalpur and Parasi. After completing the compensation work, it is ready to go into full implementation in some of these districts.</span></span></span></span></p> <p> </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"">According to MCA Nepal, the selection of the company to build the transmission line under the MCC is also underway. Six proposals have been submitted for the construction of the transmission line.</span></span></span></span></p> <p> </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 bids invited globally, MCA Nepal has received proposals from Mega Engineering and Infrastructure Limited and Power Mech Projects Limited, a joint venture of Kalpataru Power Transmission Limited, KEC International Limited, Transrail Lighting Limited, Tata Projects Limited and Larsen & Turbay Limited. Evaluation of these proposals is underway. It is said that the company will be selected after proper evaluation.</span></span></span></span></p> <p> </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 has allocated a budget of Rs 10.84 billion to MCA Nepal for the current fiscal year.</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 will contribute Rs 2.21 billion while the MCC will fund Rs 8.63 billion. </span></span></span></span></p> <p> </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 of Nepal had reached an understanding with the US government in 2017 to undertake the MCC project which would cover construction of cross-border transmission lines and road expansion works</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18464', 'image' => '20230814042024_1691983136.1690248678.1681795913[1].jpg', 'article_date' => '2023-08-14 16:19:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18734', 'article_category_id' => '1', 'title' => 'Dusit Princess Launches Kibu Sky Lounge', 'sub_title' => '', 'summary' => 'August 14: The newly-opened Dusit Princess Kathmandu has unveiled the Kibu Sky Lounge within the hotel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 14: The newly-opened Dusit Princess Kathmandu has unveiled the Kibu Sky Lounge within the hotel premises. The lounge is based on the top floor of the hotel with cozy indoor corners and comfortable outdoor seating along with DJ deck. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the hotel, this captivating venue promises to redefine the city's scene with a blend of sophisticated ambiance, signature cocktails and handpicked menu inspired by Japanese, Italian and other delectable cuisine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement, Dusit Princess Kathmandu said that the Kibu Sky Lounge embraces the essence of elegance, offering patrons a breathtaking panoramic view of Kathmandu's skyline. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The highlight of Kibu Sky Lounge is its meticulously long bar with large digital screen, added the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“From tantalizing barbeques to innovative fusion dishes, the culinary offerings at Kibu are destined to captivate your palate,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the hotel, curated selection of cocktails, premium spirits, and an extensive wine list are available for connoisseurs and cocktail enthusiasts alike. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We're thrilled to introduce Kibu Sky Lounge to the Kathmandu community and beyond," says Dorje Lama, managing director of Dusit Princess Kathmandu. "With its prime location on the top floor, Kibu promises a unique blend of breathtaking views, handcrafted beverages, and culinary delights, making it an ideal destination for those seeking unforgettable nights out."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The lounge will operate every day from 5PM to 2AM.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18463', 'image' => '20230814040129_Image 2.jpg', 'article_date' => '2023-08-14 16:00:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18733', 'article_category_id' => '1', 'title' => 'Landslides Block Highways in Nine Places Across Nepal ', 'sub_title' => '', 'summary' => 'August 14: Monsoon-induced landslides have led to the obstruction of highways and road sections in nine different locations across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Monsoon-induced landslides have led to the obstruction of highways and road sections in nine different locations across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Continuous rainfall triggered landslides, resulting in the obstructions of highways in various districts including Darchula, Sindhupalchowk, Mugu, Dadheldhura, Palpa, Rolpa, and Rukum (East), as confirmed by the Police Headquarters in Naxal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Gokuleshwar-Darchula Highway in Darchula, Melamchi-Helambu road section and Melamchi- Bhotang road section in Sindhupalchowk, Jumla-Nagma-Mugu road section in Mugu, Dadheldhura-Dipayal road section in Dadheldhura and Bhimdutta Highway have been obstructed, the police headquarters said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Siddhartha Highway in Palpa, Shahidmarga road section in Rolpa and Mid-Hill Highway in Rukum (East) have also been obstructed by landslides, thereby, affecting vehicular movement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Efforts are underway to clear off the landslide debris and restore the traffic along the obstructed highways and road sections, police said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => 'disaster, rainfall, highway, obstruction, Nepal, induced, block', 'description' => '', 'sortorder' => '18462', 'image' => '20230814022232_KN-Damauli-image_6483441.JPG', 'article_date' => '2023-08-14 14:21:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18732', 'article_category_id' => '1', 'title' => 'Government Report Recommends Prioritizing PPA for State-Sponsored Hydropower Projects', 'sub_title' => '', 'summary' => 'August 14: At a time when the private sector’s investment in the hydropower sector as well as production is increasing, the government has prepared a report that recommends giving priority to government funded projects for power purchase and sale agreement (PPA).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 14: At a time when the private sector’s investment in the hydropower sector as well as production is increasing, the government has prepared a report that recommends giving priority to government funded projects for power purchase and sale agreement (PPA). </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report has recommended giving priority to projects of Nepal Electricity Authority (NEA) and its subsidiaries and government-owned companies for PPA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The 'Report on Policy Arrangements Regarding Power Purchase and Sale Agreement-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">' prepared a committee headed by Joint Secretary of the Ministry of Energy, Water Resources and Irrigation, Sandeep Kumar Dev, made such a recommendation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After publishing the report of the committee formed by the government, the Independent Power Producers Association of Nepal (IPPAN) expressed discontent with the recommendation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Karki, president of IPPAN, said that it is not fair that the private sector projects that have already invested millions of rupees are not prioritized for the PPA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">IPPAN held a press conference in Kathmandu on Sunday to publicize its views on the report. On the occasion, Karki said, "PPA should be done on a first-come, first-served basis." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee has made </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> recommendations including PPA. Similarly, IPPAN said that that the committee’s recommendation to cancel the survey license and PPA of the projects that have failed to secure financial resources within a certain period is not justifiable in the current situation. </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">IPPAN demanded the government grant a special extension period of one year for projects that could not achieve financial closure due to Covid-19 and lack of liquidity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">IPPAN has suggested that the period of financial management should be fixed for </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""> years for projects up 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""> MW and for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years for 100 to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MW projects and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years for projects above </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MW. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the report of the committee, it is recommended to manage the financial management within </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years from the date of completion of PPA for projects up 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""> MW and within </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""> years from the date of completion of PPA for projects above </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""> MW. It has been mentioned that if there is no financial management during this period, regardless of what is written in the production license and PPA, the authority may cancel the PPA and confiscate the bank guarantee of the project.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Mohan Kumar Dangi, senior vice president of IPPAN, said that the provision of allowing the return on equity (ROE) of 17 percent and more for large projects has come as per the demand of the private sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The committee formed by the government has given priority to the government's projects in the PPA, but has recommended to encourage small investors from the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It has been mentioned that ROR and PROR hydropower projects with a connected capacity of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts will be given priority over larger projects. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal as set a target to produce </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</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"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts of electricity by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2028. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal has already signed an agreement with India to achieve this goal and to export up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">megawatts of electricity from Nepal to India.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18461', 'image' => '20230814121559_hydro.jpg', 'article_date' => '2023-08-14 12:14:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18731', 'article_category_id' => '1', 'title' => 'Government Forms Taskforce to Address the Demands of Contractors ', 'sub_title' => '', 'summary' => 'August 14: The government has formed a taskforce to address the problems faced by the construction entrepreneurs.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: The government has formed a taskforce to address the problems faced by the construction entrepreneurs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Office of the Prime Minister and Council of Ministers (OPMCM) confirmed that a six-member taskforce has been formed under the coordination of Public Procurement Monitoring Office Secretary Dr Damodar Regmi with join-secretaries of line ministries as members in order to resolve the problems. The taskforce comprises representatives from the ministry of finance, physical infrastructure and, urban development among others. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee is mandated to submit a report within 15 days after conducting necessary consultations and coordination with all stakeholders, said Narayan Prasad Bhatta, spokesperson for the OPMCM. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The contractors have been voicing their concerns over the issue of non-payment of their completed works by the government. This has resulted in other problems amid rising inflation, say the agitating contractors. </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"">OPMCM Spokesperson Bhatta said that Prime Minister Pushpa Kamal Dahal has directed the Ministry of Finance and other line ministries to promptly address the demands, including payment of completed works of the contractors. He added that Prime Minister Dahal was serious about addressing several demands of the contractors. </span></span></span><br /> </p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18460', 'image' => '20230814112332_92875562_101727424839026_8489939004500738048_n.jpg', 'article_date' => '2023-08-14 11:22:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18730', 'article_category_id' => '1', 'title' => 'Koshi River’s Water Current Highest in 34 Years, all 56 Sluice Gates Opened ', 'sub_title' => '', 'summary' => 'August 14: Water current of the Saptakoshi River in Sunsari has reached the highest level this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Water current of the Saptakoshi River in Sunsari has reached the highest level this year, according to the latest measurement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police (DSP) of the District Police Office, Saptari, Naresh Kumar Singh, informed that water level has gone up in the Koshi barrage due to incessant rainfall in the mountainous area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the water level alarmingly rising, all 56 sluice gates of the Koshi barrage have been kept open, informed the police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing that a red light has been issued to mark danger in the barrage, DSP Singh said water current was measured at 462,000 cu sec in the river at 4.00 am this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the water current is declining now. In 1989, the Saptakoshi River had witnessed water current measurement of 472,000 cu sec. This morning, the water current of 462,000 cu sec was almost close to the mark of 1989. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Koshi saw such a higher level of water current after 34 years. Local administration has urged the residents near the river basins to adopt safety measures with the rise in the water current in the Saptakoshi. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18459', 'image' => '20230814104459_115931986_3859907530702809_6841247244640180715_n.jpg', 'article_date' => '2023-08-14 10:42:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18729', 'article_category_id' => '1', 'title' => 'Mustang Floods Sweep away 10 Houses, Police Post and Bridge ', 'sub_title' => '', 'summary' => 'August 14: Floods that occurred in Kagbeni of Baragung Muktichhetra Rrural Municipality-4 in Mustang district on Sunday evening swept away 10 houses, a police post and a bridge. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 14: Floods that occurred in Kagbeni of Baragung Muktichhetra Rrural Municipality-4 in Mustang district on Sunday evening swept away 10 houses, a police post and a bridge. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flood-fed Kag rivulet, that sneaked into the human settlement in Kagbeni, a popular religious site, at 8.00 pm last night caused damages to the physical infrastructures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Muktichhetra Rural municipality Rinjin Gurung shared that the flood took away 10 houses including hotels, a police post, an under-construction motorable bridge on Jomsom-Korala road, a trail bridge, two vehicles and three electricity poles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Human loss was narrowly escaped due to timely evacuation of people after getting information about imminent flood. The flood took place after the Tiri rivulet above Kagbeni was blocked, resulting in a flash flood," he shared, adding, "It has buried houses in Kagbeni. Flood has put human settlement in a mess". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer Anup KC said the Nepalese Army, Armed Police Force and Nepal Police along with the people's representatives are being mobilized in the field for rescue operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flood in the Panda stream has caused trouble to the security personnel to reach Kagbeni through Jomsom. The road leading to the Upper Mustang via Kagbeni has been obstructed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mustang has witnessed incessant rain for the past couple of days. Water level has also increased in other rivulets of Mustang due to the incessant rain. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => 'Flood, Mustang, Kagbeni, Nepal, flash, Army, rescue, Armed, Police', 'description' => '', 'sortorder' => '18458', 'image' => '20230814022455_RSS_Mustang-Kagbenifoodgharmabadipasako.jpg', 'article_date' => '2023-08-14 10:31:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18728', 'article_category_id' => '1', 'title' => 'Finance Minister Dr Mahat Consults Bankers on Current Challenges Seen in BFIS', 'sub_title' => '', 'summary' => 'Finance Minister Dr Prakash Sharan Mahat on Sunday held a meeting with the bankers to discuss the challenges facing the banking system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 14: Finance Minister Dr Prakash Sharan Mahat on Sunday held a meeting with the bankers to discuss the challenges facing the banking system. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The meeting, which saw the participation of CEOs of the commercial banks at the Ministry of Finance, delved into reasons for limited demand for loan despite sufficient liquidity in the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the recent days, the finance minister is holding consultations with the representatives of the private sector, donor agencies, regulatory bodies and other stakeholders regarding the interventions to be taken for reforms in economy. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Mahat posed pertinent questions to the participants: "Why has demands for loan not increased in the banks and financial institutions? How the banking sector can help in making economy floating? What the government and Nepal Rastra Bank should do to end the existing status?" </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the session, Sunil KC, Chairman of the Nepal Banker's Association, expressed concerns over the waning confidence levels in both the private sector and the banking industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KC also cited confusion stemming from the taxation applied to FPOs (Further Public Offerings).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, KC highlighted that funds held at the local level should be accounted for as deposits, emphasizing that approximately Rs 150 billion in deposits has dwindled since the commencement of the current fiscal year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KC predicted a downward trend in interest rates, with the possibility of rates reaching single digit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bankers suggested that the plotting of the land should be opened and the real estate market should be relaxed and loan to the small and medium enterprises should be simplified. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-14', 'modified' => '2023-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '18457', 'image' => '20230814060959_collage (13).jpg', 'article_date' => '2023-08-14 06:07:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
