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			'id' => '18678',
			'article_category_id' => '1',
			'title' => 'NRB Increases Foreign Exchange Limit for Airline Companies',
			'sub_title' => '',
			'summary' => 'August 8: Nepal Rastra Bank has increased the foreign exchange facility that airlines companies get for importing services.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 8: Nepal Rastra Bank has increased the foreign exchange facility that airlines companies get for importing services.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The central bank has increased the limit of US</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">$</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">or equivalent that airline operators can exchange to US$ 100,000 by revising the Unified Directive-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> on Monday.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Similarly, the central bank has also increased the limit of import &nbsp;through Document Against Payment (DPA) and Document Against Acceptance (DAA).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the instructions, the limit of US$ </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">for imports through DPA and DAA has been increased to US$ </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">60,000</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">. Similarly, arrangement has been made for importers to import goods worth INR 30 million from India through DAA.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The NRB revised the Unified Directive to implement the announcements made in the monetary policy of the current fiscal year.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'NRB Increases Maximum Limit for Opening LC to Ease Imports',
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			'summary' => 'August 8: With the increase in foreign exchange reserves, Nepal Rastra Bank (NRB) has increased the maximum limit for opening letters of credit (LC) to ease imports. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">August 8: With the increase in foreign exchange reserves, Nepal Rastra Bank (NRB) has increased the maximum limit for opening letters of credit (LC) to ease imports. Prior to this, there was a provision which allowed opening an LC of up to USD 50,000 at a time. By amending this provision, the NRB has now allowed imports worth USD 60,000 or INR 30 million at a time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In other words, goods worth USD 60,000 or equivalent in foreign currency can be imported into Nepal through a single transaction. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to this arrangement, after obtaining the foreign exchange facility once, the importer must meet certain conditions for obtaining the same facility for the import of the next shipment of goods from the same exporter, the central bank has mentioned in the amended version of the Unified Circular-2079. In case of imports from India, such limit will be maintained at INR 30 million.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the limit of LC has been increased, some conditions still need to be fulfilled. According to the revised provisions, after importing goods the importers can avail similar facility only after seven days have passed since the previous shipment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In order to get the same facility for the second time, the importer must submit a form certified by the customs office as proof of import of goods along with the customs declaration form and the receipt of the customs revenue clearance slip to the concerned bank and financial institution. Similarly, importers must also submit a self-declaration regarding the lapse of seven days in addition to these documents if they want to open LC in other banks.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cash limit to be kept as security deposit for import of goods has also been reduced. As per the new provision, the security deposit on import by a manufacturer is maintained at only one percent of the value of imported goods while it is three percent for the traders. Previously, the rate was two percent and 10 percent for a manufacturer and a trader, respectively.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Heavy Downpour Inundates Different Parts of Kathmandu Valley   ',
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			'summary' => 'August 8: The incessant rainfall that occurred since last night has caused inundation in different parts of the Kathmandu Valley.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: The incessant rainfall that occurred since last night has caused inundation in different parts of the Kathmandu Valley.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The District Police Range, Kathmandu has said that Dhungedhara, Gaurighat, Guheshwori, Kapan, Samakhushi and Anamnagar, among others have been inundated with downpour. Senior Superintendent of Police Dan Bahadur Karki said, &quot;Heavy rainfall that occurred since last night inundated many places in the Kathmandu Valley. Police teams are making people aware to stay safe in the places near the Bagmati and Manohara rivers with regular patrol and miking.&quot;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The inundations have badly affected public life. Waterlogged roads and schools have caused sheer inconvenience to the people.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Police further said the downpour at Budhanilakantha, Sundarijal and Nagarkot areas flooded the rivers and streams in the Kathmandu Valley.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Weather Forecasting Division has already issued alert to all people to stay safe in the places near the Bishnumati, Dhobikhola, Bagmati, and Manohara rivers citing that there the water level have reached the danger mark. Police teams have been mobilized in different places for public awareness and safety in the wake of floods and inundation, SSP Karki added. -- RSS&nbsp; </span></span></span></p>
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			'title' => 'Manang Farmers Drawn Towards Apple Farming   ',
			'sub_title' => '',
			'summary' => 'August 8: Farmers of the mountainous district of Manang are getting attracted to apple farming with many finding their calling in this sector. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: Farmers of the mountainous district of Manang are getting attracted to apple farming with many finding their calling in this sector. Sol Bahadur Gurung of Naso Rural Municipality-8 has switched to apple farming from traditional agriculture as apple farming generates high income.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;&ldquo;I switched to hybrid apple farming from cereal crops as the production of cereal was of low quantity and the harvest got a delay. I could not generate good income from cereal crop farming,&rdquo; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A high density apple farm based in Manang started growing hybrid apples on four ropanis of land by applying the high density farming technology. Encouraged by good yields, the apple farming has gradually expanded, according to Gurung.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;Most of the farmers in Manang have planted apple saplings brought from the high density apple farm, and are generating good income from it,&rdquo; he said. The farm has been expanding apple cultivation of various varieties including Fuji, gala, golden and delicious red apples initially brought from Italy and Serbia. These species are said to be producing good yields.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Apple trees of these varieties start bearing fruits two years after plantation, and their production increases every year. So, farmers have been attracted to it, added Gurung.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;My apple trees started bearing fruits one year after plantation. It has been four years since they bore fruits,&rdquo; he further said. Gurung started the farming with an initial investment of Rs 1 million. Now, he is satisfied with the income from the farming.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Tanka Gurung of Tilche of Naso Rural Municipality-6 has grown hybrid apple on three ropanis of land. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;This apple bears fruits much earlier, and we can get quick returns on the investment, he said, adding, &ldquo;There is however a problem in transporting the apples to the market due to various reasons like the lack of accessible road network. We are satisfied with the apple production however.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Most of the farmers of the area have switched to hybrid apple farming using the high density farming technology, he added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Although apple can grow nearly in any zone, the fruit tends to thrive in climates where it is cold in the winter and moderate temperature in the summer with medium to high humidity rather than a hot and dry climate. In general, apples can grow best in the regions where the temperature rarely increases above 90 degrees Fahrenheit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">They can grow best on a well-drained, loam soil with a depth of 45 cm and a pH range of 5.5-6.5. The soil should be free of hard substrata and water-logged conditions. Soil with heavy clay or compact subsoil should be avoided.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">An apple tree can produce up to 45 kilograms of apple in a season if the weather is favourable, say agriculture experts.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Most of the farmers in Manang district have cultivated hybrid apple using the high density farming technology, said Rajeshwor Silwal, chief of the Agriculture Knowledge Centre, Manang. They are getting attracted to apple farming because of good production leading to an increase in their income, he said, adding that they were providing technical service to the farmers by reaching their orchards. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;Technicians have been deployed from the centre and local levels to provide service to the farmers. Apple cultivation is expanding from the lower parts of Manang to the higher areas,&rdquo; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Agro Manang Private Limited introduced the high density farming technology by planting apple saplings brought by former lawmaker Polden Chhopang Gurung from Italy and Serbia. It has been growing apple species of gala, golden and Fuji on 735 ropanis of land at Bhratang of Dingsyang Rural Municipality in Manang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It produced over 450 metric tonnes of apple this year, said Samaraj Gurung, chair of Agro Manang. Last year, it produced more than 400 metric tonnes. It takes around one and a half months to pluck apples from the orchard, he said, adding that they generated an annual income of over Rs 50 million from apple farming.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The production is supplied to various major cities of Nepal including Kathmandu and Pokhara under the brand of &#39;Himalayan Fresh&#39;. Cold stores have been set up at Bhratang, Besishahar and Kathmandu. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;At present, Nepal has been importing apples worth Rs 13 billion annually from foreign countries. We must produce apples enough to meet the demand at home to stop the imports. For this, it requires motivation and encouragement for farmers to engage in apple farming,&quot; said former lawmaker Polden.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">We have a plan to export the apple produced here to third countries through Kolkata in India, said Samaraj. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Himali (High Mountain Agribusiness and Livelihood Improvement) Project provided a subsidy of Rs 22 million to grow apple, and the Prime Minister Modernisation Project provided subsidies to purchase fertilisers and seeds, and in packaging, he said. Most of the apple trees (total 62,000) in the orchard have started producing apples, and 32 people have been directly employed, he added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Agriculture Knowledge Centre, Manang, apple cultivation has expanded to over 13,000 hectares of land using the new technology. The centre said that the government has been providing 50 percent subsidies for management and 75 percent for apple saplings after selecting the farmers. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Apples produced using this technology are generally considered to be of high quality, sweet and juicy with demand in the market, he said. The production is exported to Besisahar, Pokhara, Chitwan, Kathmandu and the international market as well, said the knowledge centre.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The lack of road connectivity has posed a problem in transporting the produce from Manang. As a result, apples produced in Manang are not getting a decent price, complained the farmers. Due to bad condition of roads, in many cases, fresh and healthy apples end up rotting by the time they reach the market, they said. -- RSS&nbsp; </span><br />
&nbsp;&nbsp; </span></span></p>
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			'title' => 'Downpour in Kathmandu Valley as WFD Issues Alert for Safety   ',
			'sub_title' => '',
			'summary' => 'August 8: The Kathmandu Valley has been witnessing heavy rainfall since last night, causing floods in the rivers and streams. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: The Kathmandu Valley has been witnessing heavy rainfall since last night, causing floods in the rivers and streams. The Weather Forecasting Division said the federal capital saw continuous downpour since Monday night.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The division said that the country will receive rainfall for some more days as the low pressure turf of monsoon is north of the average location (near Nepal). The heavy rainfall is a result of the monsoon winds and low pressure system around Bihar of India, the WFD said.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Currently, light to moderate rainfall has been taking place in Madhes, Bagmati, Lumbini and Gandaki provinces.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Meanwhile, the division has issued alert, urging people not to go near the rivers and streams which are flooded with downpour. The flood forecasting section under the division has appealed to all to stay alert till 11:00 am as the water level has been rising in the rivers and streams.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Budhanilakantha, Surdarijal, Nagarkot and the vicinity had heavy rainfall since 6:00am today (Tuesday). It has triggered floods in Bishnumati, Dhobikhola and Manohara rivers and streams, said the division urging people travelling on the road along the rivers to be cautious.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The weather forecasting bulletin of the division has mentioned that Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces are likely to have more rainfall while others to have light to moderate rainfall.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">One to two places in Koshi, Lumbini, Madhes and Bagmati provinces are likely to have downpour coupled with thunderstorm and lightning. -- RSS&nbsp;&nbsp; </span></span></span></p>
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		'Article' => array(
			'id' => '18673',
			'article_category_id' => '251',
			'title' => 'Exploring the Reasons Behind Nepali Students' Exodus in Pursuit of Higher Education Abroad',
			'sub_title' => '',
			'summary' => 'A number of factors such as societal and peer pressure, pervasive political interference in academics, mess in education system, and inherent curiosity prevalent in today's youngsters combine to drive Nepal's students to seek education abroad in foreign universities and colleges. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 8: Hangma Limbu is currently doing A-Levels at Malpi Institute in Baluwatar. After her class concluded, I engaged in a casual conversation with her. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Curious about her choice of A-levels, I inquired, &quot;What motivated you to opt for A-levels?&quot; To this, she promptly responded, &quot;A-levels serve as a direct passport for international opportunities,&quot; highlighting their potential to facilitate for overseas education.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Milan Sharma works as a Senior Reporter at a prominent national economic newspaper in Kathmandu. He holds a Bachelor of Business Administration (BBA) from Pokhara University with straight A&rsquo;s across all subjects. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One Saturday morning, we met at a caf&eacute; and delved into diverse topics. As our conversation drew to a close, Milan expressed his interest in seeking guidance to secure funding for a Master&#39;s Degree at a reputable university in either the US or Canada.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the summer hiatus of 2023, I embarked on a journey to my uncle&#39;s house in Jhapa. My uncle is the proud father of Rojan, his eighth-grade son. Though Rojan has a commendable academic track record, uncle is concerned with Rojan&rsquo;s proficiency in English. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;Recommend some books and resources to assist your younger brother in enhancing his English skills, enabling him to excel in IELTS and pursue higher education in Australia post his twelfth grade,&quot; my uncle commanded me.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These instances reflect the growing trend of students seeking higher education abroad. If the ongoing exodus of students seeking higher education abroad persists, there is a risk of classrooms and lecture halls going vacant. This concerning trend could potentially culminate in the unfortunate closure of colleges and universities in the future in the country, some analysists fear. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This write-up aims at exploring the major reasons behind &nbsp;the exodus of Nepali students to overseas in pursuit of higher education. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Social reason:</strong> our society has constructed a new narrative of social status. If you venture out in the foreign land and settle down there, you and your family receive admiration and respect. If you study, work and settle down in English speaking country, you receive a tag of being competent, capable, and successful in the eyes of the society.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Not going anywhere, especially to America, Canada, or Australia, is tantamount to a failure. If you work in a private company, have launched a small business, people don&rsquo;t even recognize your efforts. They say, &ldquo;he started a business because he could not go abroad&rdquo;. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;If you study, work and settle down in English speaking country, you are competent, capable, and successful in the eyes of the society. Not going anywhere, especially to America, Canada, or Australia, is tantamount to becoming a failure</strong>.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many parents begin to plan for sending their children abroad from as early as high school. However, instead of assisting their children in discovering their interests and talents, some parents prioritize the idea of sending them to a foreign country for the sake of &quot;prestige and status in society.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Another motivation driving this pursuit is the desire to eventually visit the country where their sons and daughters settle down. Phrases like &quot;My son resides in the USA&quot; or &quot;My daughter holds permanent residency in Canada&quot; often serve to boost parent&rsquo;s egos within the community.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, there are young individuals who initially have a strong desire to study, work, and remain in their home country. However, after a few semesters, their enthusiasm to stay in Nepal can suddenly wane. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, their peers from school may have already ventured abroad, flooding social media with picturesque images of beaches, iconic landmarks, expansive highways, and grand universities surrounded by lush greenery. These posts can easily divert the attention of these young individuals from their academic and professional pursuits in Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Parents, too, hold certain expectations from their children. They compare their children&#39;s progress with those of their peers and ask questions like, &quot;Your friend has already sent money and phones to his parents. When will you start working and earning? Why don&#39;t you apply and go abroad like them?&quot; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These parental questions add to the pressure felt by sons and daughters. This combination of peer pressure and familial expectations compels many young people to pursue opportunities abroad, often at any cost.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Deficiency in education system</strong>: A robust education system hinges on key factors such as dynamic syllabus and curriculum revisions, consistent teacher training and workshops, a transparent and reliable assessment structure, well-equipped laboratories, and timely result announcements. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These elements collectively contribute to the competitiveness of an education system in today&#39;s rapidly evolving world.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the stagnation in curriculum and syllabus updates within Nepal&#39;s education system presents a significant obstacle. Without continuous adjustments, students are deprived of knowledge that aligns with global advancements.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vital fields like technology, business, and sciences demand frequent updates to stay relevant to emerging trends. The absence of timely revisions leaves students ill-equipped with outdated information, ultimately diminishing their competitiveness within the global job arena.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the examination system in Nepal grapples with persistent delays and unreliability, causing substantial disruptions to students&#39; academic journeys and future career prospects. The consistent delays in result publication only add to the frustration. Students find themselves waiting for months, and in some cases, even years, to receive their results. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This delay not only hampers their career trajectory but also impedes their pursuit of further education. A master&rsquo;s two-year course might take four years to complete.&nbsp; This might frustrate youths from pursuing higher education in home country.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;A master&rsquo;s two-year course might take four years to complete.&nbsp; This might frustrate youths from pursuing higher education in home country.&rdquo;</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the dearth of training programs and workshops for faculty members hinders their ability to enhance subject expertise and refine pedagogical skills. The absence of an equitable and transparent hiring process discourages accomplished individuals from pursuing teaching and mentoring roles, further exacerbating the scarcity of qualified educators. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a shortage of well-equipped laboratories impedes practical learning opportunities in subjects such as Physics, Chemistry, agriculture, and engineering. This deficiency in practical facilities undermines the comprehensive educational experience and fails to adequately prepare students for real-world applications.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Compounding these challenges, examinations are not consistently administered according to the published schedule, adding to the uncertainty and disarray within the education system. Even when examinations are conducted as planned, there is no assurance that results will be released in a timely manner, exacerbating the frustration and disruption experienced by students.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Politicization</strong>: Politicization within academic institutions represents a disconcerting facet of Nepal&#39;s education system. This issue becomes evident when examining the affiliation of school, college and university level teachers with various political parties, leading them to neglect their responsibilities and prioritize political advocacy over student performance, skill enhancement, and academic progress.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, political influence extends to the composition of university office members, who are often shared between the ruling government and opposition parties. The appointment of Campus Chiefs by the governing party further highlights the pervasive political interference within academic institutions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, campuses that should serve as bastions of education have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The volatile nature of this politicization is exemplified by unpredictable student union actions, such as padlocking colleges and universities, which disrupts academic activities. Government campuses frequently witness clashes between rival student factions affiliated with different political parties, further exacerbating the politicization of these institutions.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;There is pervasive political interference within academic institutions. Regrettably, campuses have transformed&nbsp;into arenas for political maneuvering rather than centers of innovation, invention, and research.&rdquo;</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Colleges, campuses, and universities, originally envisioned as hubs of intellectual growth, have regrettably become platforms for flexing political muscle and showcasing the strength of rival parties and their student wings.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This intrusive political interference has proven to be a significant impediment to the pursuit of quality education and research. Consequently, the dream of attaining a genuinely high-quality education remains elusive.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Student unions frequently subject college and university administrations to duress, preventing them from working freely and fairly towards academic development. D</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">isturbing incidents of students assaulting faculty members under various pretexts serve&nbsp;as distressing indicators of the chaos and impunity that have permeated Nepal&#39;s education system.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Lacuna between theory and practice: </strong>The education system in Nepal suffers from a significant imbalance between theory and practical skills, which hampers students&#39; ability to succeed in the real world. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A prime example of this discrepancy can be observed in the field of Business Administration (BBA), where graduates may lack fundamental knowledge of essential banking and insurance services despite completing their degree. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, graduates in the field of agriculture often lack practical skills required for effective agricultural practices. Language and literature graduates may struggle when it comes to crafting well-written application or complaint letters, highlighting the deficiency in practical writing skills.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, universities and colleges have become factories that produce a surplus of unemployed graduates. These individuals may have spent several years pursuing their education, but their lack of marketable skills leaves them struggling to secure decent employment in today&#39;s fiercely competitive job market.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The curriculum primarily focuses on imparting theoretical knowledge, neglecting the crucial practical skills necessary for survival and success in various industries and areas. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Shortage of opportunities:</strong> One of the pressing issues Nepal faces is the lack of opportunities and inadequate incentives for educated youths inside the country. Despite their qualifications, many individuals, including engineering and medical science graduates, find themselves jobless due to the scarcity of suitable employment options. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This lack of opportunities has led to a significant outflow of doctors, nurses, engineers, and other professionals seeking better prospects abroad. The perception of limited job prospects and minimal job security in the country has encouraged talented graduates with exceptional academic records to pursue higher education in foreign lands. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even in cases where employment opportunities do exist, these jobs often pay meager compensation packages and lack the security necessary to sustain a prosperous livelihood. The corporate landscape is plagued by companies and industries notorious for paying paltry salaries, compelling the youth to turn their gaze towards foreign shores.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Inherent Curiosity</strong>: Humans, particularly the younger generation, possess an innate curiosity that drives them to travel to novel destinations, embrace unfamiliar cultures, and amass fresh experiences.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout the course of human history, individuals have embarked on journeys, driven by the pursuit of opportunities, the allure of exploration, and the desire to uncover new territories. Even prior to the advent of modern transportation methods, humans displayed a penchant for world exploration.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The evolution of communication and transportation technologies has transformed the world into a closely interconnected global community. Consequently, it is entirely natural for young individuals to step beyond their comfort zones and embark on global expeditions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the contemporary era, the notion of staying rooted in a single location indefinitely has lost its appeal. People aspire to pursue education in one nation, pursue careers across several others, engage in humanitarian work in distant corners of the world, and ultimately retire in a foreign land.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hence, it is unsurprising that Nepali youngsters, like their global counterparts, venture beyond their homeland in search of educational goals, personal growth, lucrative opportunities, skill acquisition and international exposure. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Conclusion:&nbsp;</strong>The trend of students seeking higher education abroad is a multifaceted issue with far-reaching implications. The stories of Hangma Limbu, Milan Sharma, and Rojan highlight the undeniable allure of international education, job opportunities, and the pursuit of personal growth that push individuals away from their home country. However, this growing exodus raises crucial concerns that call for serious attention. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal&#39;s education system is marred by systemic deficiencies, from outdated curricula to unreliable examinations, and a lack of practical training facilities. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The pervasive politicization of academic institutions further undermines the quality of education, transforming campuses into arenas of political maneuvering rather than centers of intellectual growth.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gap between theoretical knowledge and practical skills has left many graduates unprepared for real-world challenges, contributing to unemployment and underemployment. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the intrinsic curiosity of the human spirit remains a driving force. The urge to explore, learn, and embrace new experiences is a universal trait, propelling Nepali youngsters to set their feet in the foreign lands to broad their horizons. </span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '18672',
			'article_category_id' => '1',
			'title' => 'NEPSE Grants Membership to Three New Broker Companies',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) has granted membership to all new broker companies that applied for it. In three phases, NEPSE has granted membership to a total of 17 broker companies.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Nepal Stock Exchange (NEPSE) has granted membership to all new broker companies that applied for it. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In three phases, NEPSE has granted membership to a total of 17 broker companies.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first and second phases, NEPSE granted membership to seven broker companies each on July 7 and July 28.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the third phase, on August 4, three broker companies - Mega Stock Market Limited, Machhapuchhre Securities Limited, and Nabil Securities Limited - were given membership.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Giriraj Dahal, Assistant Manager at NEPSE, Mega Stock Market, Machhapuchhre Securities, and Nabil Securities have been assigned broker numbers 75, 76, and 77 respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nabil Securities, with a capital of Rs 1.5 billion, will function as a stock dealer.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mega Stock Market, with a capital of Rs 600 million, will function as a second-tier broker, providing services like investment consulting, investment management, margin trading, and share trading. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Machhapuchhre Securities, with a capital of Rs 230 million, will operate as a broker company with limited activities.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As of now, 29 new companies have secured broker licenses from the Securities Board of Nepal (SEBON). During the three phases, SEBON granted licenses to seven, 11, and 11 new companies respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Companies that have obtained broker licenses from SEBON are required to also gain membership from NEPSE as per the existing regulations of the board. Currently, 17 companies have received NEPSE membership.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KBL Securities Limited licensed by SEBON, has not applied for NEPSE membership as it is in the process of merging with an old broker company.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SEBON has classified brokers into three categories, based on a minimum paid-up capital of Rs 200 million, Rs 600 million, and Rs 1.50 billion for broker licenses.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In accordance with the same framework, the board has granted licenses to one stock trader, one full-service stock broker, and 27 limited-service stock brokers.</span></span></p>
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		'Article' => array(
			'id' => '18671',
			'article_category_id' => '1',
			'title' => 'Public Procurement Monitoring Office to Operate 'Procurement Clinic'   ',
			'sub_title' => '',
			'summary' => 'August 7: The Public Procurement Monitoring Office (PPMO) is preparing to operate 'Procurement Clinic' with the objective of resolving the problems faced in connection with issues related to public procurement.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 7: The Public Procurement Monitoring Office (PPMO) is preparing to operate &#39;Procurement Clinic&#39; with the objective of resolving the problems faced in connection with issues related to public procurement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The clinic aims to help in capacity development of the human resources involved in the procurement unit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Secretary at the PPMO Dr Damodar Regmi told the state-owned National News Agency, RSS, that the office will run &#39;procurement clinic interactive programme&#39; wherein the participants will express about the challenges that come up regarding public procurement issues and the experts will tell them about the ways of resolving the problems.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;Procurement clinic will be operated soon for the employees of the local level and the province level,&rdquo; said Regmi, adding, &nbsp;&ldquo;The procurement clinic is a successful international practice which can develop the capacity of the human resources involved in the procurement job.&quot; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The PPMO is also preparing to develop a general guideline on public procurement so as to simplify the issues related to the public procurement process which in itself is a technical issue and its laws are complex. The simple guideline will be prepared as promptly as possible for resolving problems related to public procurement faced by the provincial and local level offices as well the federal offices.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Secretary Regmi further added that intensive training on e-procurement would also be held for enhancing the public procurement capacity of the local and provincial governments. -- RSS</span></span></span></p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '18670',
			'article_category_id' => '1',
			'title' => 'Construction Entrepreneurs Announce more Protest Programmes ',
			'sub_title' => '',
			'summary' => 'August 7: The Federation of Contractors' Associations of Nepal (FCAN) has announced more protest programmes saying that the government has not yet addressed their legitimate demands. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">August 7: The Federation of Contractors&#39; Associations of Nepal (FCAN) has announced more protest programmes saying that the government has not yet addressed their legitimate demands. The federation announced the second and third phases of protest programme at a press conference in Kathmandu on Sunday. As part of the second phase of the programme, the federation has announced the protest from Monday, August 7 to Friday, August 11.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The federation has announced a daily demonstration through the week with a whistle rally in addition to a procession, a corner meeting and a sit-in, from the Federation to the Parliament building with black bands in their hands. Similarly, as part of the third phase of protest programme, all non-essential construction works will be stopped indefinitely from Sunday, August 13, said FCAN President Ravi Singh.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Under the third phase of protest programme, the federation will organize a live public hearing among construction experts. In the press conference, the president of the federation Singh said that only if the construction industry functions the overall economy will function.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He said that the payment for the work completed by the builders cannot be stopped under any pretext.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Yakshadhwaj Karki, adviser and former president of the federation, said that there are many problems in the construction industry and that it is wrong for the consumer committee to get involved in construction works. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">General Secretary of the Federation Roshan Dahal said that the federation is agitating with demands such as payment of all construction works, amendment of the extension order issued by the Nepal government and re-issue of a lump-sum extension of the entire project. The Federation of Nepalese Chamber of Commerce and Industries, Nepal Heavy Equipment Federation and other organizations have expressed solidarity with the ongoing movement of the federation.</span></span></span></p>

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			'id' => '18669',
			'article_category_id' => '1',
			'title' => 'Buddha Air’s Tickets now Available through IME Pay',
			'sub_title' => '',
			'summary' => 'August 7: Passengers can now purchase tickets of Buddha Air through the airline company’s website and app using IME Pay.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 7: Passengers can now purchase tickets of Buddha Air through the airline company&rsquo;s website and app using IME Pay. The service was launched on Sunday after IME Pay and Buddha Air signed an agreement to this effect.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As per the agreement, passengers will be able to pay easily by selecting IME Pay while purchasing tickets on Buddha Air&rsquo;s website and app. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Passengers will also get a free coupon of Chandragiri Cable Car on every payment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Issuing a statement, IME Pay said that the company expects encouragement in creating a cashless society for the convenience of customers. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Praveen Regmi, Chief Executive Officer of IME Pay, said that the agreement was signed with the aim of making the air travel experience of the user more convenient.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '18668',
			'article_category_id' => '1',
			'title' => 'Profit of Commercial Banks Increased by 25 Percent during Last FY',
			'sub_title' => '',
			'summary' => 'August 7: The net profit of commercial banks increased by almost 25 percent in the last fiscal year (FY 2022/23) despite slowdown of economic activities due to the impacts of Covid-19 and Russia-Ukraine war.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 7: The net profit of commercial banks increased by almost 25 percent in the last fiscal year (FY 2022/23) despite slowdown of economic activities due to the impacts of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> and Russia-Ukraine war.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The profits of banks improved in the review year due to the increase in income from interest and the control in growth rate of bad loans. According to the financial statements published by the commercial banks for the FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23, they earned a total net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">70</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">.17 billion in the review year. In the previous year (FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">21</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22), the profit was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">56.17</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion, which is an increase of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">24.93</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent last year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Although the profit growth rate decreased in the first, second and third quarters of the last fiscal year, there was an improvement in the fourth quarter. Compared to the same period of the previous year, the profit increased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">5.94</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the first quarter of FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23, by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">11.10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the second quarter and by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">11.67</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the third quarter. Coming to the fourth quarter, the growth in profit was more than double compared to the third quarter.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Former banker Analraj Bhattarai said that although the business expansion of banks was not significant in the last fiscal year, the increase in spread rate and the increase in income from investments made by banks in treasury bills and bonds had a positive effect on the profit. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&quot;Last year, the spread rate was also high and the income from the government treasury was also good,&quot; he said, &quot;Because of which the profit of the banks has been seen somewhat positive.&quot;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">He says that the merger of banks had a positive effect on some banks. However, compared to the capital of the banks, this year&#39;s profit should be considered normal, Bhattarai said.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">In the fourth quarter of the last fiscal year, banks also succeeded in controlling bad loans. In the previous year, bad loans of banks were </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. However, bad loans of banks increased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.83</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the first quarter of FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23. Bad loans further increased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.35</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the second quarter while the average bad loans reached </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">3.03</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent by the third quarter. In the fourth quarter, banks succeeded in reducing bad loans to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.7</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Control of bad loans also had a positive effect on the profit of banks. Former banker Bhattarai says that it can be compared to the financial discipline of banks and businessmen. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Last year, Nabil Bank earned the highest net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.52</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion after acquiring Nepal Bangladesh Bank which is an increase of 76.86 percent compared to the previous year. Similarly, Global IME Bank, which merged with Bank of Kathmandu, earned a net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.25</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion. The profit of Global IME increased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">46.26</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">In the last fiscal year, the profit of Kumari Bank and Prime Commercial Bank was less than the previous year. The profit Kumari, which acquired NCC Bank, decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">24.14 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent compared to the previous year and was limited to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.95 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion. In the previous year, the profit of the bank was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.57 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion rupees. Similarly, the profit of Prime Bank decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">18.81 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.26 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '18667',
			'article_category_id' => '1',
			'title' => 'Project Cost of MCC to Increase by Rs 900 Million',
			'sub_title' => 'Preparations Underway for Declaring EIF Phase of MCC from mid-August',
			'summary' => 'August 7: The Millennium Challenge Corporation (MCC) Compact that was signed between the Ministry of Finance and the US Government around six years ago has reached the entry into force (EIF) phase and the development itself marks a significant milestone in the implementation of the agreement. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">August 7: The Millennium Challenge Corporation (MCC) Compact that was signed between the Ministry of Finance and the US Government around six years ago has reached the entry into force (EIF) phase and the development itself marks a significant milestone in the implementation of the agreement.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to the Millennium Challenge Account (MCA)-Nepal Development Committee, preparations are on to announce the date for EIP regarding the MCC soon.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over the course of six years since signing of the agreement, the Compact was endorsed by the Federal Parliament along with a 12-point descriptive note. During this period, Nepal has met almost all conditions, five out of six, required to be enabled by it before advancing the agreement to the implementation phase. Of the six prerequisites, land acquisition for the implementation of the pact has been awaited.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">However, over the course of time, Nepal is needed to own up additional economic responsibility for initiations and projects to be implemented under the agreement. Initially, it was agreed that USD 500 million shall be provided in grants to Nepal while the government shall bear USD 130, expecting the total cost of the MCC project to remain at USD 630 million.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&nbsp;But the &#39;supplemental agreement&#39; over the MCC that was signed in last May-June, demands the government to bear additional USD 67 million, seeking its total contribution of USD 197 million to the enforcement of the agreement. In the beginning, Nepal was supposed to take up the 20.63 per cent economic responsibility for the MCC project and now it has risen to 28.26 percent. The increased responsibility amount is equivalent to Rs 900 million.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The preparations for the announcement of EIF date&nbsp; sans meeting all the preconditions is another concern regarding the implementation of projects under the MCA-Nepal, the government agency formed to implement the projects co-funded by the US government under the MCC.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The acquisition of land for the implementation of MCC Nepal Compact projects, as well as the guarantee of the land use rights within forest areas is still awaited.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Compact mandates the project implementing body to complete the projects within five years of the declaration of EIF.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The prevailing time provides room to doubt over the completion of the projects within the stipulated time frame.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">This article primarily highlights the factors contributing to the increase in the cost of Compact implementation and sheds light on the reasons behind the decision to proceed with the Entry into Force (EIF) without fulfilling all the prerequisites.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Factors contributing to additional responsibility for Nepal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Council of Ministers on May 23 decided to endorse the Finance Ministry&#39;s proposal to revise the agreement between Nepal and the MCC and increase the government&#39;s share in its implementation.&nbsp; On the basis of the same agreement, Nepal Electricity Authority (NEA) and the MCA-Nepal on May 30 signed the &#39;supplemental agreement&#39;.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The NEA and MCA-Nepal signed the agreement a few days ago. The MCA-Nepal issued a public statement citing that &quot;The government has decided to include additional endeavors included in the electricity transmission projects under the MCC Compact on the request of the Nepal Electricity Authority.&quot; &nbsp; The statement further mentioned that the additional budget of USD 67 million required to implement these additional endeavors will be managed from the major budget of the Compact. In the event of the full utilization of the allocated budget, any insufficient funds will be borne by the NEA.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The additional budget to be required for the implementation of the Compact is to be considered as the government&#39;s contribution to it and it will be adjusted in the relevant schedule of the Compact through the implementation letter.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Road and electricity projects are the areas of priorities for Nepal identified by the MCC Compact signed on September 14, 2017.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">As per the statement, the cost amount of USD 67 million which has been recently added will be spent for the construction of the section of the 400kV New Butwal-Gorakhpur Nepal-India Inter-country Transmission line towards the Nepal side and for increasing the capacity of three substations. This transmission line project is in the construction process at present.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Schedule-1 (B) (1) of the MCC Compact states about the transmission line to be constructed under MCA-Nepal. It is mentioned in the Compact that around 300 kilometers of double circuit 400 kV transmission line would be constructed within Nepal.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Compact states that the transmission line would be constructed on five different routes &ndash; from Lapsiphedi of Kathmandu up to Ratamaate, from Ratamate to Hetauda, from Ratamate to Damauli, from Damauli to Butwal and from Butwal to the India border. This means that the plan of constructing the transmission line from Butwal to the India border for which the added cost has been managed is included in the existing cost of USD 630 million.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">RSS had approached the MCA-Nepal for its comment regarding allocation of additional budget for the construction of the transmission line on this route the estimated cost of which has been already included in the Compact. In response, MCA-Nepal stated that the amount added in the MCC Nepal Compact programme would be merged with the Electricity Transmission Project &nbsp; budget and it would be used for increasing the capacity of three substations by installing extra &#39;bays&#39; as per the requirement and request of Nepal Electricity Authority (NEA).&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">To RSS&#39; question whether the amount merged in this way can be termed as an increment in the project&#39;s cost, MCA-Nepal&#39;s information officer Rajib Dahal said the cost automatically goes up when extra work has to be carried out than what was previously determined.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&quot;Additional work of expanding the capacity of the under-construction three substations by installing extra bays is being carried out from the amount added on behalf of the Government of Nepal to the MCC Nepal Compact, as per the NEA&#39;s need and request. The increase in cost is obvious after the addition of extra work on the predetermined work. Therefore, we can call it the need for additional investment due to the expansion of the limit of the project&#39;s work,&quot; the MCA-Nepal has stated.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Similarly, MCA-Nepal has said although some changes have been made in the works of the Road Maintenance Project, it will not have any impact on the overall budget related to the roads.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">NEA executive director Kulman Ghising said India had already started the process for tender for the construction of the transmission line on its side.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&ldquo;But in our case, the dispute whether the MCC Compact would be endorsed by the parliament or not was not finalized. Therefore, we detached this from the MCC Compact,&quot; Ghising said, adding that the tendering process of programmes under the MCC Compact also moves ahead after the parliament&#39;s endorsement. &quot;It was again included in the MCC after coming to the conclusion that only small contractors will come for the bidding when NEA does the contract for the project whereas big contractors would come if the MCA-Nepal calls for the contract. The cost increased after the NEA added to the scope of work that was already in the compact before.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Preparations for EIF without meeting prerequisites&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The agreement which was signed on 14 September, 2017 between the Finance Ministry of Nepal and the MCC, was endorsed by the parliament on 27 February, 2022.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The countdown for the five-year project will as per the agreement begin from the day of EIF.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to the preliminary agreement, EIF would take place from 30 June 2020. However, many factors like a dispute in getting the compact endorsed from the parliament and other difficulties are blamed for the delay.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Land acquisition as a prerequisite for EIF has yet to take place</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to Section 8.1 of Article 8 of the MCC Compact, the Government will ensure the full and expeditious cooperation of all relevant government entities to ensure that all land acquisition, site access, and forest clearance required to implement the Compact is provided in a timely manner, and consistent with all MCC policies.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Asked about the implementation of the compact, the MCC Nepal said the date for its implementation would be announced within the Nepali month of Bhadra. &quot;Preparations are underway to announce the date for the implementation of the MCC Nepal Compact 2080,&quot; said the MCC Nepal.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">It requires a total of 1,471 hectares of land for the electricity transmission project, and around 20 hectares for the construction of a substation at Ratmate in Nuwakot. It requires 104 hectares of land for constructing around 856 electrical towers. There is still a dispute in the land required for constructing a substation, and the distribution of compensation for the land acquired for the transmission line has yet to begin, said the MCC Nepal.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&quot;Except for a family-disputed plot, the distribution of compensation for the land acquired for a substation at Ratamate has been completed. A preliminary legal process has been initiated to acquire the land required to build the electrical towers.&quot;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The legal process to determine compensation amounts for the land acquired for the project has started under the leadership of Chief District Officer of the respective district of the total nine affected districts, it has been said. The affected areas have 122 community and government forests.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over Rs 10.8 billion allocated for the current FY</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">For the project, the government has allocated over Rs 10.8 billion for the current FY, 2023/24. Out of the allocated budget, Rs 8.7 billion will go for the electricity transmission project, Rs 1.5 billion for road repair, Rs 2 million for monitoring and evaluation, and Rs 555 million for administrative work. -- RSS</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '18666',
			'article_category_id' => '1',
			'title' => 'CIB Handed Responsibility to Investigate into Gold Smuggling',
			'sub_title' => '',
			'summary' => 'The Central Investigation Bureau (CIB) of Nepal Police has been handed over the responsibility to further investigate the smuggling of 100 kg gold.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Central Investigation Bureau (CIB) of Nepal Police has been handed over the responsibility to further investigate the smuggling of 100 kg gold.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;After 17 days of the seizure of the gold smuggled from foreign country, the Revenue Investigation Department (RID) handed over the responsibility to the CIB to dig deeper into the gold smuggling incident on Sunday. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Director General of RID Nabaraj Dhungana said that the CIB had been provided with the files of the investigations to dig further issues into the case of gold smuggling.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhungana said that entire other activities of the investigations now would be carried out by the CIB. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier on Thursday, Prime Minister Pushpa Kamal Dahal &#39;Prachanda&#39; had directed the RID to give responsibility to the CIB for investigation.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the PM&#39;s directive, the files have been sent to the CIB by fulfilling necessary processes.&nbsp; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Now, the CIB will also investigate the financial issues, organized and trans-national crimes. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Deputy Inspector General of Nepal Police Kuber Kadayat said that the CIB will begin the investigation after getting letter from the Department.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Currently, 17 individuals are in the custody of security force on their alleged involvement in the case. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">(RSS)</span></span></p>
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			'id' => '18665',
			'article_category_id' => '1',
			'title' => 'Lalita Niwas Land Scam: SC Orders to Probe Decision Makers',
			'sub_title' => '',
			'summary' => 'The Supreme Court (SC) on Sunday ordered to investigate into the individuals directly responsible for decision-making related to Lalita Niwas land grab scam.  The directive was issued by a bench comprising Justices Anil Kumar Sinha and Dr. Kumar Chudal.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Supreme Court (SC) on Sunday ordered to investigate into the individuals directly responsible for decision-making related to Lalita Niwas land grab scam.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The directive was issued by a bench comprising Justices Anil Kumar Sinha and Dr. Kumar Chudal. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The implicated decisions were made during the tenures of Madhav Kumar Nepal and Dr. Baburam Bhattarai as Prime Ministers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The SC&#39;s order mandates an investigation into members of the former Council of Ministers responsible for decision-making, as well as those who certified these decisions for implementation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, the SC has also ordered to investigate those taking the proposal to the higher level or authority.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
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			'title' => 'Ncell Flood Alert SMS Contributing to Saving Lives of Nepali Citizens',
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			'summary' => 'August 6: Ncell, a private sector telecommunication giant of Nepal, has claimed that the company has been disseminating early warning SMS alerts to people living in flood-prone areas, contributing to saving lives and properties from monsoon-induced floods each year.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 6: Ncell, a private sector telecommunication giant of Nepal, has claimed that the company has been disseminating early warning SMS alerts to people living in flood-prone areas, contributing to saving lives and properties from monsoon-induced floods each year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Issuing a statement, Ncell said that the company has sent over 4.4 million such SMS in the last two months, pre-informing people from flood risk areas.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The areas where SMS alerts were disseminated this year include downstream communities or basins of major rivers such as Narayani, Babai, Rapti, Kankai, Bagmati, Koshi, and Karnali, among others. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Ncell under its Corporate Social Responsibility (CSR) has been pre-notifying risks of flood via SMS since 2016 in collaboration with the Department of Hydrology and Meteorology (DHM), added the statement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Under this initiative, Ncell has been collaborating with the DHM for Early Warning System (EWS) to broadcast SMS alerts to the public mainly during the monsoon season. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Early warning SMS alerts ensure that people get pre-informed about the risk and move to safe locations with their belongings, while organisations involved in disaster response and preparedness get time to act on time, the statement further said. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">When the water level returns to normal in the rivers, people also receive an SMS alert that there is no looming risk, and they can now return to their places. &nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&ldquo;At Ncell, we are committed to serving people and the community of Nepal. Leveraging on our technical expertise and reach, we are pleased to support our community of Nepal with timely dissemination of flood alerts contributing to reducing potential loss of lives and properties every year during monsoon. This collaborative initiative under our CSR is a testament to how public-private partnership can deliver results for the betterment of our society,&rdquo; the statement quoted Ncell&rsquo;s Chief Executive Officer and Managing Director Jabbor Kayumov as saying.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">DHM through its telemetry stations keeps close track of the hydrological and metrological situations and triggers the messaging based on the level of water in the rivers. Ncell upon DHM&rsquo;s request broadcasts location-based alert messages to people living along the downstream communities of rivers known for creating flood mayhem via short code number 1155, which is also a DHM&rsquo;s toll-free hotline dedicated to providing information updates on flood situations. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the Flood Forecasting Division of DHM, with almost all households having access to GMS mobile service, flood SMS alert has been one of the most effective mediums in the flood EWS to minimize loss of lives and properties, and it is thankful to Ncell for collaboration in this noble cause, the statement reads.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The statement says that apart from individuals within the identified hazard zones, these alerts are also sent to vital organisations involved in disaster risk reduction, including the National Emergency Operating Centre for necessary activities on disaster response and preparedness.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As part of continued collaboration, last year Ncell disseminated over 7.8 million such flood alerts mainly during monsoon to the public from basins and communities that are identified as flood-prone areas. After signing an agreement for this initiative in 2016, Ncell and DHM strengthened the association further in 2018 for improving disaster preparedness.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As a responsible corporate entity, Ncell said it remains committed to serving people and the community and is also exploring possibilities to implement EWS for other hydro-meteorology related disasters too. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&ldquo;As DHM installs new telemetry devices and expands hydro-meteorological stations, Ncell will continue to provide similar connectivity support to those stations, so that more people could benefit from the EWS initiative.&rdquo;</span></span></span></p>
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		'Article' => array(
			'id' => '18678',
			'article_category_id' => '1',
			'title' => 'NRB Increases Foreign Exchange Limit for Airline Companies',
			'sub_title' => '',
			'summary' => 'August 8: Nepal Rastra Bank has increased the foreign exchange facility that airlines companies get for importing services.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 8: Nepal Rastra Bank has increased the foreign exchange facility that airlines companies get for importing services.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The central bank has increased the limit of US</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">$</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">or equivalent that airline operators can exchange to US$ 100,000 by revising the Unified Directive-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> on Monday.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Similarly, the central bank has also increased the limit of import &nbsp;through Document Against Payment (DPA) and Document Against Acceptance (DAA).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the instructions, the limit of US$ </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">for imports through DPA and DAA has been increased to US$ </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">60,000</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">. Similarly, arrangement has been made for importers to import goods worth INR 30 million from India through DAA.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The NRB revised the Unified Directive to implement the announcements made in the monetary policy of the current fiscal year.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'NRB Increases Maximum Limit for Opening LC to Ease Imports',
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			'summary' => 'August 8: With the increase in foreign exchange reserves, Nepal Rastra Bank (NRB) has increased the maximum limit for opening letters of credit (LC) to ease imports. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">August 8: With the increase in foreign exchange reserves, Nepal Rastra Bank (NRB) has increased the maximum limit for opening letters of credit (LC) to ease imports. Prior to this, there was a provision which allowed opening an LC of up to USD 50,000 at a time. By amending this provision, the NRB has now allowed imports worth USD 60,000 or INR 30 million at a time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In other words, goods worth USD 60,000 or equivalent in foreign currency can be imported into Nepal through a single transaction. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to this arrangement, after obtaining the foreign exchange facility once, the importer must meet certain conditions for obtaining the same facility for the import of the next shipment of goods from the same exporter, the central bank has mentioned in the amended version of the Unified Circular-2079. In case of imports from India, such limit will be maintained at INR 30 million.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the limit of LC has been increased, some conditions still need to be fulfilled. According to the revised provisions, after importing goods the importers can avail similar facility only after seven days have passed since the previous shipment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In order to get the same facility for the second time, the importer must submit a form certified by the customs office as proof of import of goods along with the customs declaration form and the receipt of the customs revenue clearance slip to the concerned bank and financial institution. Similarly, importers must also submit a self-declaration regarding the lapse of seven days in addition to these documents if they want to open LC in other banks.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cash limit to be kept as security deposit for import of goods has also been reduced. As per the new provision, the security deposit on import by a manufacturer is maintained at only one percent of the value of imported goods while it is three percent for the traders. Previously, the rate was two percent and 10 percent for a manufacturer and a trader, respectively.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '18676',
			'article_category_id' => '1',
			'title' => 'Heavy Downpour Inundates Different Parts of Kathmandu Valley   ',
			'sub_title' => '',
			'summary' => 'August 8: The incessant rainfall that occurred since last night has caused inundation in different parts of the Kathmandu Valley.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: The incessant rainfall that occurred since last night has caused inundation in different parts of the Kathmandu Valley.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The District Police Range, Kathmandu has said that Dhungedhara, Gaurighat, Guheshwori, Kapan, Samakhushi and Anamnagar, among others have been inundated with downpour. Senior Superintendent of Police Dan Bahadur Karki said, &quot;Heavy rainfall that occurred since last night inundated many places in the Kathmandu Valley. Police teams are making people aware to stay safe in the places near the Bagmati and Manohara rivers with regular patrol and miking.&quot;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The inundations have badly affected public life. Waterlogged roads and schools have caused sheer inconvenience to the people.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Police further said the downpour at Budhanilakantha, Sundarijal and Nagarkot areas flooded the rivers and streams in the Kathmandu Valley.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Weather Forecasting Division has already issued alert to all people to stay safe in the places near the Bishnumati, Dhobikhola, Bagmati, and Manohara rivers citing that there the water level have reached the danger mark. Police teams have been mobilized in different places for public awareness and safety in the wake of floods and inundation, SSP Karki added. -- RSS&nbsp; </span></span></span></p>
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		'Article' => array(
			'id' => '18675',
			'article_category_id' => '1',
			'title' => 'Manang Farmers Drawn Towards Apple Farming   ',
			'sub_title' => '',
			'summary' => 'August 8: Farmers of the mountainous district of Manang are getting attracted to apple farming with many finding their calling in this sector. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: Farmers of the mountainous district of Manang are getting attracted to apple farming with many finding their calling in this sector. Sol Bahadur Gurung of Naso Rural Municipality-8 has switched to apple farming from traditional agriculture as apple farming generates high income.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;&ldquo;I switched to hybrid apple farming from cereal crops as the production of cereal was of low quantity and the harvest got a delay. I could not generate good income from cereal crop farming,&rdquo; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A high density apple farm based in Manang started growing hybrid apples on four ropanis of land by applying the high density farming technology. Encouraged by good yields, the apple farming has gradually expanded, according to Gurung.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;Most of the farmers in Manang have planted apple saplings brought from the high density apple farm, and are generating good income from it,&rdquo; he said. The farm has been expanding apple cultivation of various varieties including Fuji, gala, golden and delicious red apples initially brought from Italy and Serbia. These species are said to be producing good yields.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Apple trees of these varieties start bearing fruits two years after plantation, and their production increases every year. So, farmers have been attracted to it, added Gurung.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;My apple trees started bearing fruits one year after plantation. It has been four years since they bore fruits,&rdquo; he further said. Gurung started the farming with an initial investment of Rs 1 million. Now, he is satisfied with the income from the farming.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Tanka Gurung of Tilche of Naso Rural Municipality-6 has grown hybrid apple on three ropanis of land. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;This apple bears fruits much earlier, and we can get quick returns on the investment, he said, adding, &ldquo;There is however a problem in transporting the apples to the market due to various reasons like the lack of accessible road network. We are satisfied with the apple production however.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Most of the farmers of the area have switched to hybrid apple farming using the high density farming technology, he added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Although apple can grow nearly in any zone, the fruit tends to thrive in climates where it is cold in the winter and moderate temperature in the summer with medium to high humidity rather than a hot and dry climate. In general, apples can grow best in the regions where the temperature rarely increases above 90 degrees Fahrenheit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">They can grow best on a well-drained, loam soil with a depth of 45 cm and a pH range of 5.5-6.5. The soil should be free of hard substrata and water-logged conditions. Soil with heavy clay or compact subsoil should be avoided.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">An apple tree can produce up to 45 kilograms of apple in a season if the weather is favourable, say agriculture experts.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Most of the farmers in Manang district have cultivated hybrid apple using the high density farming technology, said Rajeshwor Silwal, chief of the Agriculture Knowledge Centre, Manang. They are getting attracted to apple farming because of good production leading to an increase in their income, he said, adding that they were providing technical service to the farmers by reaching their orchards. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;Technicians have been deployed from the centre and local levels to provide service to the farmers. Apple cultivation is expanding from the lower parts of Manang to the higher areas,&rdquo; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Agro Manang Private Limited introduced the high density farming technology by planting apple saplings brought by former lawmaker Polden Chhopang Gurung from Italy and Serbia. It has been growing apple species of gala, golden and Fuji on 735 ropanis of land at Bhratang of Dingsyang Rural Municipality in Manang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It produced over 450 metric tonnes of apple this year, said Samaraj Gurung, chair of Agro Manang. Last year, it produced more than 400 metric tonnes. It takes around one and a half months to pluck apples from the orchard, he said, adding that they generated an annual income of over Rs 50 million from apple farming.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The production is supplied to various major cities of Nepal including Kathmandu and Pokhara under the brand of &#39;Himalayan Fresh&#39;. Cold stores have been set up at Bhratang, Besishahar and Kathmandu. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;At present, Nepal has been importing apples worth Rs 13 billion annually from foreign countries. We must produce apples enough to meet the demand at home to stop the imports. For this, it requires motivation and encouragement for farmers to engage in apple farming,&quot; said former lawmaker Polden.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">We have a plan to export the apple produced here to third countries through Kolkata in India, said Samaraj. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Himali (High Mountain Agribusiness and Livelihood Improvement) Project provided a subsidy of Rs 22 million to grow apple, and the Prime Minister Modernisation Project provided subsidies to purchase fertilisers and seeds, and in packaging, he said. Most of the apple trees (total 62,000) in the orchard have started producing apples, and 32 people have been directly employed, he added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Agriculture Knowledge Centre, Manang, apple cultivation has expanded to over 13,000 hectares of land using the new technology. The centre said that the government has been providing 50 percent subsidies for management and 75 percent for apple saplings after selecting the farmers. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Apples produced using this technology are generally considered to be of high quality, sweet and juicy with demand in the market, he said. The production is exported to Besisahar, Pokhara, Chitwan, Kathmandu and the international market as well, said the knowledge centre.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The lack of road connectivity has posed a problem in transporting the produce from Manang. As a result, apples produced in Manang are not getting a decent price, complained the farmers. Due to bad condition of roads, in many cases, fresh and healthy apples end up rotting by the time they reach the market, they said. -- RSS&nbsp; </span><br />
&nbsp;&nbsp; </span></span></p>
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		'Article' => array(
			'id' => '18674',
			'article_category_id' => '1',
			'title' => 'Downpour in Kathmandu Valley as WFD Issues Alert for Safety   ',
			'sub_title' => '',
			'summary' => 'August 8: The Kathmandu Valley has been witnessing heavy rainfall since last night, causing floods in the rivers and streams. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: The Kathmandu Valley has been witnessing heavy rainfall since last night, causing floods in the rivers and streams. The Weather Forecasting Division said the federal capital saw continuous downpour since Monday night.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The division said that the country will receive rainfall for some more days as the low pressure turf of monsoon is north of the average location (near Nepal). The heavy rainfall is a result of the monsoon winds and low pressure system around Bihar of India, the WFD said.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Currently, light to moderate rainfall has been taking place in Madhes, Bagmati, Lumbini and Gandaki provinces.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Meanwhile, the division has issued alert, urging people not to go near the rivers and streams which are flooded with downpour. The flood forecasting section under the division has appealed to all to stay alert till 11:00 am as the water level has been rising in the rivers and streams.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Budhanilakantha, Surdarijal, Nagarkot and the vicinity had heavy rainfall since 6:00am today (Tuesday). It has triggered floods in Bishnumati, Dhobikhola and Manohara rivers and streams, said the division urging people travelling on the road along the rivers to be cautious.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The weather forecasting bulletin of the division has mentioned that Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces are likely to have more rainfall while others to have light to moderate rainfall.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">One to two places in Koshi, Lumbini, Madhes and Bagmati provinces are likely to have downpour coupled with thunderstorm and lightning. -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '18673',
			'article_category_id' => '251',
			'title' => 'Exploring the Reasons Behind Nepali Students' Exodus in Pursuit of Higher Education Abroad',
			'sub_title' => '',
			'summary' => 'A number of factors such as societal and peer pressure, pervasive political interference in academics, mess in education system, and inherent curiosity prevalent in today's youngsters combine to drive Nepal's students to seek education abroad in foreign universities and colleges. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 8: Hangma Limbu is currently doing A-Levels at Malpi Institute in Baluwatar. After her class concluded, I engaged in a casual conversation with her. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Curious about her choice of A-levels, I inquired, &quot;What motivated you to opt for A-levels?&quot; To this, she promptly responded, &quot;A-levels serve as a direct passport for international opportunities,&quot; highlighting their potential to facilitate for overseas education.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Milan Sharma works as a Senior Reporter at a prominent national economic newspaper in Kathmandu. He holds a Bachelor of Business Administration (BBA) from Pokhara University with straight A&rsquo;s across all subjects. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One Saturday morning, we met at a caf&eacute; and delved into diverse topics. As our conversation drew to a close, Milan expressed his interest in seeking guidance to secure funding for a Master&#39;s Degree at a reputable university in either the US or Canada.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the summer hiatus of 2023, I embarked on a journey to my uncle&#39;s house in Jhapa. My uncle is the proud father of Rojan, his eighth-grade son. Though Rojan has a commendable academic track record, uncle is concerned with Rojan&rsquo;s proficiency in English. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;Recommend some books and resources to assist your younger brother in enhancing his English skills, enabling him to excel in IELTS and pursue higher education in Australia post his twelfth grade,&quot; my uncle commanded me.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These instances reflect the growing trend of students seeking higher education abroad. If the ongoing exodus of students seeking higher education abroad persists, there is a risk of classrooms and lecture halls going vacant. This concerning trend could potentially culminate in the unfortunate closure of colleges and universities in the future in the country, some analysists fear. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This write-up aims at exploring the major reasons behind &nbsp;the exodus of Nepali students to overseas in pursuit of higher education. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Social reason:</strong> our society has constructed a new narrative of social status. If you venture out in the foreign land and settle down there, you and your family receive admiration and respect. If you study, work and settle down in English speaking country, you receive a tag of being competent, capable, and successful in the eyes of the society.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Not going anywhere, especially to America, Canada, or Australia, is tantamount to a failure. If you work in a private company, have launched a small business, people don&rsquo;t even recognize your efforts. They say, &ldquo;he started a business because he could not go abroad&rdquo;. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;If you study, work and settle down in English speaking country, you are competent, capable, and successful in the eyes of the society. Not going anywhere, especially to America, Canada, or Australia, is tantamount to becoming a failure</strong>.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many parents begin to plan for sending their children abroad from as early as high school. However, instead of assisting their children in discovering their interests and talents, some parents prioritize the idea of sending them to a foreign country for the sake of &quot;prestige and status in society.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Another motivation driving this pursuit is the desire to eventually visit the country where their sons and daughters settle down. Phrases like &quot;My son resides in the USA&quot; or &quot;My daughter holds permanent residency in Canada&quot; often serve to boost parent&rsquo;s egos within the community.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, there are young individuals who initially have a strong desire to study, work, and remain in their home country. However, after a few semesters, their enthusiasm to stay in Nepal can suddenly wane. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, their peers from school may have already ventured abroad, flooding social media with picturesque images of beaches, iconic landmarks, expansive highways, and grand universities surrounded by lush greenery. These posts can easily divert the attention of these young individuals from their academic and professional pursuits in Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Parents, too, hold certain expectations from their children. They compare their children&#39;s progress with those of their peers and ask questions like, &quot;Your friend has already sent money and phones to his parents. When will you start working and earning? Why don&#39;t you apply and go abroad like them?&quot; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These parental questions add to the pressure felt by sons and daughters. This combination of peer pressure and familial expectations compels many young people to pursue opportunities abroad, often at any cost.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Deficiency in education system</strong>: A robust education system hinges on key factors such as dynamic syllabus and curriculum revisions, consistent teacher training and workshops, a transparent and reliable assessment structure, well-equipped laboratories, and timely result announcements. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These elements collectively contribute to the competitiveness of an education system in today&#39;s rapidly evolving world.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the stagnation in curriculum and syllabus updates within Nepal&#39;s education system presents a significant obstacle. Without continuous adjustments, students are deprived of knowledge that aligns with global advancements.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vital fields like technology, business, and sciences demand frequent updates to stay relevant to emerging trends. The absence of timely revisions leaves students ill-equipped with outdated information, ultimately diminishing their competitiveness within the global job arena.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the examination system in Nepal grapples with persistent delays and unreliability, causing substantial disruptions to students&#39; academic journeys and future career prospects. The consistent delays in result publication only add to the frustration. Students find themselves waiting for months, and in some cases, even years, to receive their results. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This delay not only hampers their career trajectory but also impedes their pursuit of further education. A master&rsquo;s two-year course might take four years to complete.&nbsp; This might frustrate youths from pursuing higher education in home country.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;A master&rsquo;s two-year course might take four years to complete.&nbsp; This might frustrate youths from pursuing higher education in home country.&rdquo;</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the dearth of training programs and workshops for faculty members hinders their ability to enhance subject expertise and refine pedagogical skills. The absence of an equitable and transparent hiring process discourages accomplished individuals from pursuing teaching and mentoring roles, further exacerbating the scarcity of qualified educators. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a shortage of well-equipped laboratories impedes practical learning opportunities in subjects such as Physics, Chemistry, agriculture, and engineering. This deficiency in practical facilities undermines the comprehensive educational experience and fails to adequately prepare students for real-world applications.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Compounding these challenges, examinations are not consistently administered according to the published schedule, adding to the uncertainty and disarray within the education system. Even when examinations are conducted as planned, there is no assurance that results will be released in a timely manner, exacerbating the frustration and disruption experienced by students.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Politicization</strong>: Politicization within academic institutions represents a disconcerting facet of Nepal&#39;s education system. This issue becomes evident when examining the affiliation of school, college and university level teachers with various political parties, leading them to neglect their responsibilities and prioritize political advocacy over student performance, skill enhancement, and academic progress.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, political influence extends to the composition of university office members, who are often shared between the ruling government and opposition parties. The appointment of Campus Chiefs by the governing party further highlights the pervasive political interference within academic institutions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, campuses that should serve as bastions of education have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The volatile nature of this politicization is exemplified by unpredictable student union actions, such as padlocking colleges and universities, which disrupts academic activities. Government campuses frequently witness clashes between rival student factions affiliated with different political parties, further exacerbating the politicization of these institutions.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;There is pervasive political interference within academic institutions. Regrettably, campuses have transformed&nbsp;into arenas for political maneuvering rather than centers of innovation, invention, and research.&rdquo;</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Colleges, campuses, and universities, originally envisioned as hubs of intellectual growth, have regrettably become platforms for flexing political muscle and showcasing the strength of rival parties and their student wings.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This intrusive political interference has proven to be a significant impediment to the pursuit of quality education and research. Consequently, the dream of attaining a genuinely high-quality education remains elusive.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Student unions frequently subject college and university administrations to duress, preventing them from working freely and fairly towards academic development. D</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">isturbing incidents of students assaulting faculty members under various pretexts serve&nbsp;as distressing indicators of the chaos and impunity that have permeated Nepal&#39;s education system.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Lacuna between theory and practice: </strong>The education system in Nepal suffers from a significant imbalance between theory and practical skills, which hampers students&#39; ability to succeed in the real world. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A prime example of this discrepancy can be observed in the field of Business Administration (BBA), where graduates may lack fundamental knowledge of essential banking and insurance services despite completing their degree. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, graduates in the field of agriculture often lack practical skills required for effective agricultural practices. Language and literature graduates may struggle when it comes to crafting well-written application or complaint letters, highlighting the deficiency in practical writing skills.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, universities and colleges have become factories that produce a surplus of unemployed graduates. These individuals may have spent several years pursuing their education, but their lack of marketable skills leaves them struggling to secure decent employment in today&#39;s fiercely competitive job market.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The curriculum primarily focuses on imparting theoretical knowledge, neglecting the crucial practical skills necessary for survival and success in various industries and areas. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Shortage of opportunities:</strong> One of the pressing issues Nepal faces is the lack of opportunities and inadequate incentives for educated youths inside the country. Despite their qualifications, many individuals, including engineering and medical science graduates, find themselves jobless due to the scarcity of suitable employment options. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This lack of opportunities has led to a significant outflow of doctors, nurses, engineers, and other professionals seeking better prospects abroad. The perception of limited job prospects and minimal job security in the country has encouraged talented graduates with exceptional academic records to pursue higher education in foreign lands. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even in cases where employment opportunities do exist, these jobs often pay meager compensation packages and lack the security necessary to sustain a prosperous livelihood. The corporate landscape is plagued by companies and industries notorious for paying paltry salaries, compelling the youth to turn their gaze towards foreign shores.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Inherent Curiosity</strong>: Humans, particularly the younger generation, possess an innate curiosity that drives them to travel to novel destinations, embrace unfamiliar cultures, and amass fresh experiences.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout the course of human history, individuals have embarked on journeys, driven by the pursuit of opportunities, the allure of exploration, and the desire to uncover new territories. Even prior to the advent of modern transportation methods, humans displayed a penchant for world exploration.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The evolution of communication and transportation technologies has transformed the world into a closely interconnected global community. Consequently, it is entirely natural for young individuals to step beyond their comfort zones and embark on global expeditions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the contemporary era, the notion of staying rooted in a single location indefinitely has lost its appeal. People aspire to pursue education in one nation, pursue careers across several others, engage in humanitarian work in distant corners of the world, and ultimately retire in a foreign land.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hence, it is unsurprising that Nepali youngsters, like their global counterparts, venture beyond their homeland in search of educational goals, personal growth, lucrative opportunities, skill acquisition and international exposure. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Conclusion:&nbsp;</strong>The trend of students seeking higher education abroad is a multifaceted issue with far-reaching implications. The stories of Hangma Limbu, Milan Sharma, and Rojan highlight the undeniable allure of international education, job opportunities, and the pursuit of personal growth that push individuals away from their home country. However, this growing exodus raises crucial concerns that call for serious attention. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal&#39;s education system is marred by systemic deficiencies, from outdated curricula to unreliable examinations, and a lack of practical training facilities. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The pervasive politicization of academic institutions further undermines the quality of education, transforming campuses into arenas of political maneuvering rather than centers of intellectual growth.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gap between theoretical knowledge and practical skills has left many graduates unprepared for real-world challenges, contributing to unemployment and underemployment. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the intrinsic curiosity of the human spirit remains a driving force. The urge to explore, learn, and embrace new experiences is a universal trait, propelling Nepali youngsters to set their feet in the foreign lands to broad their horizons. </span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '18402',
			'image' => '20230808061226_collage (6).jpg',
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	(int) 6 => array(
		'Article' => array(
			'id' => '18672',
			'article_category_id' => '1',
			'title' => 'NEPSE Grants Membership to Three New Broker Companies',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) has granted membership to all new broker companies that applied for it. In three phases, NEPSE has granted membership to a total of 17 broker companies.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Nepal Stock Exchange (NEPSE) has granted membership to all new broker companies that applied for it. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In three phases, NEPSE has granted membership to a total of 17 broker companies.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first and second phases, NEPSE granted membership to seven broker companies each on July 7 and July 28.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the third phase, on August 4, three broker companies - Mega Stock Market Limited, Machhapuchhre Securities Limited, and Nabil Securities Limited - were given membership.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Giriraj Dahal, Assistant Manager at NEPSE, Mega Stock Market, Machhapuchhre Securities, and Nabil Securities have been assigned broker numbers 75, 76, and 77 respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nabil Securities, with a capital of Rs 1.5 billion, will function as a stock dealer.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mega Stock Market, with a capital of Rs 600 million, will function as a second-tier broker, providing services like investment consulting, investment management, margin trading, and share trading. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Machhapuchhre Securities, with a capital of Rs 230 million, will operate as a broker company with limited activities.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As of now, 29 new companies have secured broker licenses from the Securities Board of Nepal (SEBON). During the three phases, SEBON granted licenses to seven, 11, and 11 new companies respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Companies that have obtained broker licenses from SEBON are required to also gain membership from NEPSE as per the existing regulations of the board. Currently, 17 companies have received NEPSE membership.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KBL Securities Limited licensed by SEBON, has not applied for NEPSE membership as it is in the process of merging with an old broker company.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SEBON has classified brokers into three categories, based on a minimum paid-up capital of Rs 200 million, Rs 600 million, and Rs 1.50 billion for broker licenses.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In accordance with the same framework, the board has granted licenses to one stock trader, one full-service stock broker, and 27 limited-service stock brokers.</span></span></p>
',
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			'created' => '2023-08-07',
			'modified' => '2023-08-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '18401',
			'image' => '20230807052917_collage (2).jpg',
			'article_date' => '2023-08-07 17:27:14',
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	(int) 7 => array(
		'Article' => array(
			'id' => '18671',
			'article_category_id' => '1',
			'title' => 'Public Procurement Monitoring Office to Operate 'Procurement Clinic'   ',
			'sub_title' => '',
			'summary' => 'August 7: The Public Procurement Monitoring Office (PPMO) is preparing to operate 'Procurement Clinic' with the objective of resolving the problems faced in connection with issues related to public procurement.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 7: The Public Procurement Monitoring Office (PPMO) is preparing to operate &#39;Procurement Clinic&#39; with the objective of resolving the problems faced in connection with issues related to public procurement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The clinic aims to help in capacity development of the human resources involved in the procurement unit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Secretary at the PPMO Dr Damodar Regmi told the state-owned National News Agency, RSS, that the office will run &#39;procurement clinic interactive programme&#39; wherein the participants will express about the challenges that come up regarding public procurement issues and the experts will tell them about the ways of resolving the problems.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;Procurement clinic will be operated soon for the employees of the local level and the province level,&rdquo; said Regmi, adding, &nbsp;&ldquo;The procurement clinic is a successful international practice which can develop the capacity of the human resources involved in the procurement job.&quot; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The PPMO is also preparing to develop a general guideline on public procurement so as to simplify the issues related to the public procurement process which in itself is a technical issue and its laws are complex. The simple guideline will be prepared as promptly as possible for resolving problems related to public procurement faced by the provincial and local level offices as well the federal offices.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Secretary Regmi further added that intensive training on e-procurement would also be held for enhancing the public procurement capacity of the local and provincial governments. -- RSS</span></span></span></p>
',
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			'sortorder' => '18400',
			'image' => '20230807043651_PPMOOO.jpg',
			'article_date' => '2023-08-07 16:36:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '18670',
			'article_category_id' => '1',
			'title' => 'Construction Entrepreneurs Announce more Protest Programmes ',
			'sub_title' => '',
			'summary' => 'August 7: The Federation of Contractors' Associations of Nepal (FCAN) has announced more protest programmes saying that the government has not yet addressed their legitimate demands. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">August 7: The Federation of Contractors&#39; Associations of Nepal (FCAN) has announced more protest programmes saying that the government has not yet addressed their legitimate demands. The federation announced the second and third phases of protest programme at a press conference in Kathmandu on Sunday. As part of the second phase of the programme, the federation has announced the protest from Monday, August 7 to Friday, August 11.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The federation has announced a daily demonstration through the week with a whistle rally in addition to a procession, a corner meeting and a sit-in, from the Federation to the Parliament building with black bands in their hands. Similarly, as part of the third phase of protest programme, all non-essential construction works will be stopped indefinitely from Sunday, August 13, said FCAN President Ravi Singh.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Under the third phase of protest programme, the federation will organize a live public hearing among construction experts. In the press conference, the president of the federation Singh said that only if the construction industry functions the overall economy will function.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He said that the payment for the work completed by the builders cannot be stopped under any pretext.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Yakshadhwaj Karki, adviser and former president of the federation, said that there are many problems in the construction industry and that it is wrong for the consumer committee to get involved in construction works. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">General Secretary of the Federation Roshan Dahal said that the federation is agitating with demands such as payment of all construction works, amendment of the extension order issued by the Nepal government and re-issue of a lump-sum extension of the entire project. The Federation of Nepalese Chamber of Commerce and Industries, Nepal Heavy Equipment Federation and other organizations have expressed solidarity with the ongoing movement of the federation.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2023-08-07',
			'modified' => '2023-08-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '18399',
			'image' => '20230807034938_fcann.jpg',
			'article_date' => '2023-08-07 15:48:29',
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	(int) 9 => array(
		'Article' => array(
			'id' => '18669',
			'article_category_id' => '1',
			'title' => 'Buddha Air’s Tickets now Available through IME Pay',
			'sub_title' => '',
			'summary' => 'August 7: Passengers can now purchase tickets of Buddha Air through the airline company’s website and app using IME Pay.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 7: Passengers can now purchase tickets of Buddha Air through the airline company&rsquo;s website and app using IME Pay. The service was launched on Sunday after IME Pay and Buddha Air signed an agreement to this effect.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As per the agreement, passengers will be able to pay easily by selecting IME Pay while purchasing tickets on Buddha Air&rsquo;s website and app. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Passengers will also get a free coupon of Chandragiri Cable Car on every payment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Issuing a statement, IME Pay said that the company expects encouragement in creating a cashless society for the convenience of customers. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Praveen Regmi, Chief Executive Officer of IME Pay, said that the agreement was signed with the aim of making the air travel experience of the user more convenient.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '18668',
			'article_category_id' => '1',
			'title' => 'Profit of Commercial Banks Increased by 25 Percent during Last FY',
			'sub_title' => '',
			'summary' => 'August 7: The net profit of commercial banks increased by almost 25 percent in the last fiscal year (FY 2022/23) despite slowdown of economic activities due to the impacts of Covid-19 and Russia-Ukraine war.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 7: The net profit of commercial banks increased by almost 25 percent in the last fiscal year (FY 2022/23) despite slowdown of economic activities due to the impacts of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> and Russia-Ukraine war.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The profits of banks improved in the review year due to the increase in income from interest and the control in growth rate of bad loans. According to the financial statements published by the commercial banks for the FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23, they earned a total net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">70</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">.17 billion in the review year. In the previous year (FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">21</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22), the profit was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">56.17</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion, which is an increase of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">24.93</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent last year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Although the profit growth rate decreased in the first, second and third quarters of the last fiscal year, there was an improvement in the fourth quarter. Compared to the same period of the previous year, the profit increased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">5.94</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the first quarter of FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23, by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">11.10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the second quarter and by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">11.67</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the third quarter. Coming to the fourth quarter, the growth in profit was more than double compared to the third quarter.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Former banker Analraj Bhattarai said that although the business expansion of banks was not significant in the last fiscal year, the increase in spread rate and the increase in income from investments made by banks in treasury bills and bonds had a positive effect on the profit. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&quot;Last year, the spread rate was also high and the income from the government treasury was also good,&quot; he said, &quot;Because of which the profit of the banks has been seen somewhat positive.&quot;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">He says that the merger of banks had a positive effect on some banks. However, compared to the capital of the banks, this year&#39;s profit should be considered normal, Bhattarai said.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">In the fourth quarter of the last fiscal year, banks also succeeded in controlling bad loans. In the previous year, bad loans of banks were </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. However, bad loans of banks increased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.83</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the first quarter of FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23. Bad loans further increased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.35</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the second quarter while the average bad loans reached </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">3.03</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent by the third quarter. In the fourth quarter, banks succeeded in reducing bad loans to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.7</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Control of bad loans also had a positive effect on the profit of banks. Former banker Bhattarai says that it can be compared to the financial discipline of banks and businessmen. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Last year, Nabil Bank earned the highest net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.52</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion after acquiring Nepal Bangladesh Bank which is an increase of 76.86 percent compared to the previous year. Similarly, Global IME Bank, which merged with Bank of Kathmandu, earned a net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.25</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion. The profit of Global IME increased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">46.26</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">In the last fiscal year, the profit of Kumari Bank and Prime Commercial Bank was less than the previous year. The profit Kumari, which acquired NCC Bank, decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">24.14 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent compared to the previous year and was limited to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.95 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion. In the previous year, the profit of the bank was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.57 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion rupees. Similarly, the profit of Prime Bank decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">18.81 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.26 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '18667',
			'article_category_id' => '1',
			'title' => 'Project Cost of MCC to Increase by Rs 900 Million',
			'sub_title' => 'Preparations Underway for Declaring EIF Phase of MCC from mid-August',
			'summary' => 'August 7: The Millennium Challenge Corporation (MCC) Compact that was signed between the Ministry of Finance and the US Government around six years ago has reached the entry into force (EIF) phase and the development itself marks a significant milestone in the implementation of the agreement. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">August 7: The Millennium Challenge Corporation (MCC) Compact that was signed between the Ministry of Finance and the US Government around six years ago has reached the entry into force (EIF) phase and the development itself marks a significant milestone in the implementation of the agreement.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to the Millennium Challenge Account (MCA)-Nepal Development Committee, preparations are on to announce the date for EIP regarding the MCC soon.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over the course of six years since signing of the agreement, the Compact was endorsed by the Federal Parliament along with a 12-point descriptive note. During this period, Nepal has met almost all conditions, five out of six, required to be enabled by it before advancing the agreement to the implementation phase. Of the six prerequisites, land acquisition for the implementation of the pact has been awaited.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">However, over the course of time, Nepal is needed to own up additional economic responsibility for initiations and projects to be implemented under the agreement. Initially, it was agreed that USD 500 million shall be provided in grants to Nepal while the government shall bear USD 130, expecting the total cost of the MCC project to remain at USD 630 million.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&nbsp;But the &#39;supplemental agreement&#39; over the MCC that was signed in last May-June, demands the government to bear additional USD 67 million, seeking its total contribution of USD 197 million to the enforcement of the agreement. In the beginning, Nepal was supposed to take up the 20.63 per cent economic responsibility for the MCC project and now it has risen to 28.26 percent. The increased responsibility amount is equivalent to Rs 900 million.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The preparations for the announcement of EIF date&nbsp; sans meeting all the preconditions is another concern regarding the implementation of projects under the MCA-Nepal, the government agency formed to implement the projects co-funded by the US government under the MCC.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The acquisition of land for the implementation of MCC Nepal Compact projects, as well as the guarantee of the land use rights within forest areas is still awaited.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Compact mandates the project implementing body to complete the projects within five years of the declaration of EIF.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The prevailing time provides room to doubt over the completion of the projects within the stipulated time frame.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">This article primarily highlights the factors contributing to the increase in the cost of Compact implementation and sheds light on the reasons behind the decision to proceed with the Entry into Force (EIF) without fulfilling all the prerequisites.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Factors contributing to additional responsibility for Nepal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Council of Ministers on May 23 decided to endorse the Finance Ministry&#39;s proposal to revise the agreement between Nepal and the MCC and increase the government&#39;s share in its implementation.&nbsp; On the basis of the same agreement, Nepal Electricity Authority (NEA) and the MCA-Nepal on May 30 signed the &#39;supplemental agreement&#39;.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The NEA and MCA-Nepal signed the agreement a few days ago. The MCA-Nepal issued a public statement citing that &quot;The government has decided to include additional endeavors included in the electricity transmission projects under the MCC Compact on the request of the Nepal Electricity Authority.&quot; &nbsp; The statement further mentioned that the additional budget of USD 67 million required to implement these additional endeavors will be managed from the major budget of the Compact. In the event of the full utilization of the allocated budget, any insufficient funds will be borne by the NEA.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The additional budget to be required for the implementation of the Compact is to be considered as the government&#39;s contribution to it and it will be adjusted in the relevant schedule of the Compact through the implementation letter.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Road and electricity projects are the areas of priorities for Nepal identified by the MCC Compact signed on September 14, 2017.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">As per the statement, the cost amount of USD 67 million which has been recently added will be spent for the construction of the section of the 400kV New Butwal-Gorakhpur Nepal-India Inter-country Transmission line towards the Nepal side and for increasing the capacity of three substations. This transmission line project is in the construction process at present.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Schedule-1 (B) (1) of the MCC Compact states about the transmission line to be constructed under MCA-Nepal. It is mentioned in the Compact that around 300 kilometers of double circuit 400 kV transmission line would be constructed within Nepal.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Compact states that the transmission line would be constructed on five different routes &ndash; from Lapsiphedi of Kathmandu up to Ratamaate, from Ratamate to Hetauda, from Ratamate to Damauli, from Damauli to Butwal and from Butwal to the India border. This means that the plan of constructing the transmission line from Butwal to the India border for which the added cost has been managed is included in the existing cost of USD 630 million.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">RSS had approached the MCA-Nepal for its comment regarding allocation of additional budget for the construction of the transmission line on this route the estimated cost of which has been already included in the Compact. In response, MCA-Nepal stated that the amount added in the MCC Nepal Compact programme would be merged with the Electricity Transmission Project &nbsp; budget and it would be used for increasing the capacity of three substations by installing extra &#39;bays&#39; as per the requirement and request of Nepal Electricity Authority (NEA).&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">To RSS&#39; question whether the amount merged in this way can be termed as an increment in the project&#39;s cost, MCA-Nepal&#39;s information officer Rajib Dahal said the cost automatically goes up when extra work has to be carried out than what was previously determined.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&quot;Additional work of expanding the capacity of the under-construction three substations by installing extra bays is being carried out from the amount added on behalf of the Government of Nepal to the MCC Nepal Compact, as per the NEA&#39;s need and request. The increase in cost is obvious after the addition of extra work on the predetermined work. Therefore, we can call it the need for additional investment due to the expansion of the limit of the project&#39;s work,&quot; the MCA-Nepal has stated.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Similarly, MCA-Nepal has said although some changes have been made in the works of the Road Maintenance Project, it will not have any impact on the overall budget related to the roads.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">NEA executive director Kulman Ghising said India had already started the process for tender for the construction of the transmission line on its side.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&ldquo;But in our case, the dispute whether the MCC Compact would be endorsed by the parliament or not was not finalized. Therefore, we detached this from the MCC Compact,&quot; Ghising said, adding that the tendering process of programmes under the MCC Compact also moves ahead after the parliament&#39;s endorsement. &quot;It was again included in the MCC after coming to the conclusion that only small contractors will come for the bidding when NEA does the contract for the project whereas big contractors would come if the MCA-Nepal calls for the contract. The cost increased after the NEA added to the scope of work that was already in the compact before.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Preparations for EIF without meeting prerequisites&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The agreement which was signed on 14 September, 2017 between the Finance Ministry of Nepal and the MCC, was endorsed by the parliament on 27 February, 2022.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The countdown for the five-year project will as per the agreement begin from the day of EIF.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to the preliminary agreement, EIF would take place from 30 June 2020. However, many factors like a dispute in getting the compact endorsed from the parliament and other difficulties are blamed for the delay.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Land acquisition as a prerequisite for EIF has yet to take place</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to Section 8.1 of Article 8 of the MCC Compact, the Government will ensure the full and expeditious cooperation of all relevant government entities to ensure that all land acquisition, site access, and forest clearance required to implement the Compact is provided in a timely manner, and consistent with all MCC policies.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Asked about the implementation of the compact, the MCC Nepal said the date for its implementation would be announced within the Nepali month of Bhadra. &quot;Preparations are underway to announce the date for the implementation of the MCC Nepal Compact 2080,&quot; said the MCC Nepal.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">It requires a total of 1,471 hectares of land for the electricity transmission project, and around 20 hectares for the construction of a substation at Ratmate in Nuwakot. It requires 104 hectares of land for constructing around 856 electrical towers. There is still a dispute in the land required for constructing a substation, and the distribution of compensation for the land acquired for the transmission line has yet to begin, said the MCC Nepal.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&quot;Except for a family-disputed plot, the distribution of compensation for the land acquired for a substation at Ratamate has been completed. A preliminary legal process has been initiated to acquire the land required to build the electrical towers.&quot;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The legal process to determine compensation amounts for the land acquired for the project has started under the leadership of Chief District Officer of the respective district of the total nine affected districts, it has been said. The affected areas have 122 community and government forests.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over Rs 10.8 billion allocated for the current FY</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">For the project, the government has allocated over Rs 10.8 billion for the current FY, 2023/24. Out of the allocated budget, Rs 8.7 billion will go for the electricity transmission project, Rs 1.5 billion for road repair, Rs 2 million for monitoring and evaluation, and Rs 555 million for administrative work. -- RSS</span></span></span></p>

<p>&nbsp;</p>
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			'created' => '2023-08-07',
			'modified' => '2023-08-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '18396',
			'image' => '20230807114556_MCC.jpg',
			'article_date' => '2023-08-07 11:43:54',
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	(int) 12 => array(
		'Article' => array(
			'id' => '18666',
			'article_category_id' => '1',
			'title' => 'CIB Handed Responsibility to Investigate into Gold Smuggling',
			'sub_title' => '',
			'summary' => 'The Central Investigation Bureau (CIB) of Nepal Police has been handed over the responsibility to further investigate the smuggling of 100 kg gold.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Central Investigation Bureau (CIB) of Nepal Police has been handed over the responsibility to further investigate the smuggling of 100 kg gold.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;After 17 days of the seizure of the gold smuggled from foreign country, the Revenue Investigation Department (RID) handed over the responsibility to the CIB to dig deeper into the gold smuggling incident on Sunday. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Director General of RID Nabaraj Dhungana said that the CIB had been provided with the files of the investigations to dig further issues into the case of gold smuggling.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhungana said that entire other activities of the investigations now would be carried out by the CIB. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier on Thursday, Prime Minister Pushpa Kamal Dahal &#39;Prachanda&#39; had directed the RID to give responsibility to the CIB for investigation.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the PM&#39;s directive, the files have been sent to the CIB by fulfilling necessary processes.&nbsp; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Now, the CIB will also investigate the financial issues, organized and trans-national crimes. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Deputy Inspector General of Nepal Police Kuber Kadayat said that the CIB will begin the investigation after getting letter from the Department.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Currently, 17 individuals are in the custody of security force on their alleged involvement in the case. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">(RSS)</span></span></p>
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			'sortorder' => '18395',
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			'article_date' => '2023-08-07 06:00:55',
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	(int) 13 => array(
		'Article' => array(
			'id' => '18665',
			'article_category_id' => '1',
			'title' => 'Lalita Niwas Land Scam: SC Orders to Probe Decision Makers',
			'sub_title' => '',
			'summary' => 'The Supreme Court (SC) on Sunday ordered to investigate into the individuals directly responsible for decision-making related to Lalita Niwas land grab scam.  The directive was issued by a bench comprising Justices Anil Kumar Sinha and Dr. Kumar Chudal.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Supreme Court (SC) on Sunday ordered to investigate into the individuals directly responsible for decision-making related to Lalita Niwas land grab scam.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The directive was issued by a bench comprising Justices Anil Kumar Sinha and Dr. Kumar Chudal. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The implicated decisions were made during the tenures of Madhav Kumar Nepal and Dr. Baburam Bhattarai as Prime Ministers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The SC&#39;s order mandates an investigation into members of the former Council of Ministers responsible for decision-making, as well as those who certified these decisions for implementation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, the SC has also ordered to investigate those taking the proposal to the higher level or authority.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
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			'title' => 'Ncell Flood Alert SMS Contributing to Saving Lives of Nepali Citizens',
			'sub_title' => '',
			'summary' => 'August 6: Ncell, a private sector telecommunication giant of Nepal, has claimed that the company has been disseminating early warning SMS alerts to people living in flood-prone areas, contributing to saving lives and properties from monsoon-induced floods each year.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 6: Ncell, a private sector telecommunication giant of Nepal, has claimed that the company has been disseminating early warning SMS alerts to people living in flood-prone areas, contributing to saving lives and properties from monsoon-induced floods each year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Issuing a statement, Ncell said that the company has sent over 4.4 million such SMS in the last two months, pre-informing people from flood risk areas.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The areas where SMS alerts were disseminated this year include downstream communities or basins of major rivers such as Narayani, Babai, Rapti, Kankai, Bagmati, Koshi, and Karnali, among others. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Ncell under its Corporate Social Responsibility (CSR) has been pre-notifying risks of flood via SMS since 2016 in collaboration with the Department of Hydrology and Meteorology (DHM), added the statement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Under this initiative, Ncell has been collaborating with the DHM for Early Warning System (EWS) to broadcast SMS alerts to the public mainly during the monsoon season. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Early warning SMS alerts ensure that people get pre-informed about the risk and move to safe locations with their belongings, while organisations involved in disaster response and preparedness get time to act on time, the statement further said. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">When the water level returns to normal in the rivers, people also receive an SMS alert that there is no looming risk, and they can now return to their places. &nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&ldquo;At Ncell, we are committed to serving people and the community of Nepal. Leveraging on our technical expertise and reach, we are pleased to support our community of Nepal with timely dissemination of flood alerts contributing to reducing potential loss of lives and properties every year during monsoon. This collaborative initiative under our CSR is a testament to how public-private partnership can deliver results for the betterment of our society,&rdquo; the statement quoted Ncell&rsquo;s Chief Executive Officer and Managing Director Jabbor Kayumov as saying.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">DHM through its telemetry stations keeps close track of the hydrological and metrological situations and triggers the messaging based on the level of water in the rivers. Ncell upon DHM&rsquo;s request broadcasts location-based alert messages to people living along the downstream communities of rivers known for creating flood mayhem via short code number 1155, which is also a DHM&rsquo;s toll-free hotline dedicated to providing information updates on flood situations. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the Flood Forecasting Division of DHM, with almost all households having access to GMS mobile service, flood SMS alert has been one of the most effective mediums in the flood EWS to minimize loss of lives and properties, and it is thankful to Ncell for collaboration in this noble cause, the statement reads.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The statement says that apart from individuals within the identified hazard zones, these alerts are also sent to vital organisations involved in disaster risk reduction, including the National Emergency Operating Centre for necessary activities on disaster response and preparedness.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As part of continued collaboration, last year Ncell disseminated over 7.8 million such flood alerts mainly during monsoon to the public from basins and communities that are identified as flood-prone areas. After signing an agreement for this initiative in 2016, Ncell and DHM strengthened the association further in 2018 for improving disaster preparedness.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As a responsible corporate entity, Ncell said it remains committed to serving people and the community and is also exploring possibilities to implement EWS for other hydro-meteorology related disasters too. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&ldquo;As DHM installs new telemetry devices and expands hydro-meteorological stations, Ncell will continue to provide similar connectivity support to those stations, so that more people could benefit from the EWS initiative.&rdquo;</span></span></span></p>
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		'Article' => array(
			'id' => '18678',
			'article_category_id' => '1',
			'title' => 'NRB Increases Foreign Exchange Limit for Airline Companies',
			'sub_title' => '',
			'summary' => 'August 8: Nepal Rastra Bank has increased the foreign exchange facility that airlines companies get for importing services.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 8: Nepal Rastra Bank has increased the foreign exchange facility that airlines companies get for importing services.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The central bank has increased the limit of US</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">$</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">or equivalent that airline operators can exchange to US$ 100,000 by revising the Unified Directive-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> on Monday.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Similarly, the central bank has also increased the limit of import &nbsp;through Document Against Payment (DPA) and Document Against Acceptance (DAA).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the instructions, the limit of US$ </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">for imports through DPA and DAA has been increased to US$ </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">60,000</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">. Similarly, arrangement has been made for importers to import goods worth INR 30 million from India through DAA.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The NRB revised the Unified Directive to implement the announcements made in the monetary policy of the current fiscal year.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'NRB Increases Maximum Limit for Opening LC to Ease Imports',
			'sub_title' => '',
			'summary' => 'August 8: With the increase in foreign exchange reserves, Nepal Rastra Bank (NRB) has increased the maximum limit for opening letters of credit (LC) to ease imports. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">August 8: With the increase in foreign exchange reserves, Nepal Rastra Bank (NRB) has increased the maximum limit for opening letters of credit (LC) to ease imports. Prior to this, there was a provision which allowed opening an LC of up to USD 50,000 at a time. By amending this provision, the NRB has now allowed imports worth USD 60,000 or INR 30 million at a time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In other words, goods worth USD 60,000 or equivalent in foreign currency can be imported into Nepal through a single transaction. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to this arrangement, after obtaining the foreign exchange facility once, the importer must meet certain conditions for obtaining the same facility for the import of the next shipment of goods from the same exporter, the central bank has mentioned in the amended version of the Unified Circular-2079. In case of imports from India, such limit will be maintained at INR 30 million.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the limit of LC has been increased, some conditions still need to be fulfilled. According to the revised provisions, after importing goods the importers can avail similar facility only after seven days have passed since the previous shipment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In order to get the same facility for the second time, the importer must submit a form certified by the customs office as proof of import of goods along with the customs declaration form and the receipt of the customs revenue clearance slip to the concerned bank and financial institution. Similarly, importers must also submit a self-declaration regarding the lapse of seven days in addition to these documents if they want to open LC in other banks.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cash limit to be kept as security deposit for import of goods has also been reduced. As per the new provision, the security deposit on import by a manufacturer is maintained at only one percent of the value of imported goods while it is three percent for the traders. Previously, the rate was two percent and 10 percent for a manufacturer and a trader, respectively.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Heavy Downpour Inundates Different Parts of Kathmandu Valley   ',
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			'summary' => 'August 8: The incessant rainfall that occurred since last night has caused inundation in different parts of the Kathmandu Valley.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: The incessant rainfall that occurred since last night has caused inundation in different parts of the Kathmandu Valley.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The District Police Range, Kathmandu has said that Dhungedhara, Gaurighat, Guheshwori, Kapan, Samakhushi and Anamnagar, among others have been inundated with downpour. Senior Superintendent of Police Dan Bahadur Karki said, &quot;Heavy rainfall that occurred since last night inundated many places in the Kathmandu Valley. Police teams are making people aware to stay safe in the places near the Bagmati and Manohara rivers with regular patrol and miking.&quot;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The inundations have badly affected public life. Waterlogged roads and schools have caused sheer inconvenience to the people.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Police further said the downpour at Budhanilakantha, Sundarijal and Nagarkot areas flooded the rivers and streams in the Kathmandu Valley.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Weather Forecasting Division has already issued alert to all people to stay safe in the places near the Bishnumati, Dhobikhola, Bagmati, and Manohara rivers citing that there the water level have reached the danger mark. Police teams have been mobilized in different places for public awareness and safety in the wake of floods and inundation, SSP Karki added. -- RSS&nbsp; </span></span></span></p>
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			'id' => '18675',
			'article_category_id' => '1',
			'title' => 'Manang Farmers Drawn Towards Apple Farming   ',
			'sub_title' => '',
			'summary' => 'August 8: Farmers of the mountainous district of Manang are getting attracted to apple farming with many finding their calling in this sector. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: Farmers of the mountainous district of Manang are getting attracted to apple farming with many finding their calling in this sector. Sol Bahadur Gurung of Naso Rural Municipality-8 has switched to apple farming from traditional agriculture as apple farming generates high income.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;&ldquo;I switched to hybrid apple farming from cereal crops as the production of cereal was of low quantity and the harvest got a delay. I could not generate good income from cereal crop farming,&rdquo; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A high density apple farm based in Manang started growing hybrid apples on four ropanis of land by applying the high density farming technology. Encouraged by good yields, the apple farming has gradually expanded, according to Gurung.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;Most of the farmers in Manang have planted apple saplings brought from the high density apple farm, and are generating good income from it,&rdquo; he said. The farm has been expanding apple cultivation of various varieties including Fuji, gala, golden and delicious red apples initially brought from Italy and Serbia. These species are said to be producing good yields.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Apple trees of these varieties start bearing fruits two years after plantation, and their production increases every year. So, farmers have been attracted to it, added Gurung.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;My apple trees started bearing fruits one year after plantation. It has been four years since they bore fruits,&rdquo; he further said. Gurung started the farming with an initial investment of Rs 1 million. Now, he is satisfied with the income from the farming.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Tanka Gurung of Tilche of Naso Rural Municipality-6 has grown hybrid apple on three ropanis of land. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;This apple bears fruits much earlier, and we can get quick returns on the investment, he said, adding, &ldquo;There is however a problem in transporting the apples to the market due to various reasons like the lack of accessible road network. We are satisfied with the apple production however.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Most of the farmers of the area have switched to hybrid apple farming using the high density farming technology, he added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Although apple can grow nearly in any zone, the fruit tends to thrive in climates where it is cold in the winter and moderate temperature in the summer with medium to high humidity rather than a hot and dry climate. In general, apples can grow best in the regions where the temperature rarely increases above 90 degrees Fahrenheit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">They can grow best on a well-drained, loam soil with a depth of 45 cm and a pH range of 5.5-6.5. The soil should be free of hard substrata and water-logged conditions. Soil with heavy clay or compact subsoil should be avoided.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">An apple tree can produce up to 45 kilograms of apple in a season if the weather is favourable, say agriculture experts.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Most of the farmers in Manang district have cultivated hybrid apple using the high density farming technology, said Rajeshwor Silwal, chief of the Agriculture Knowledge Centre, Manang. They are getting attracted to apple farming because of good production leading to an increase in their income, he said, adding that they were providing technical service to the farmers by reaching their orchards. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;Technicians have been deployed from the centre and local levels to provide service to the farmers. Apple cultivation is expanding from the lower parts of Manang to the higher areas,&rdquo; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Agro Manang Private Limited introduced the high density farming technology by planting apple saplings brought by former lawmaker Polden Chhopang Gurung from Italy and Serbia. It has been growing apple species of gala, golden and Fuji on 735 ropanis of land at Bhratang of Dingsyang Rural Municipality in Manang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It produced over 450 metric tonnes of apple this year, said Samaraj Gurung, chair of Agro Manang. Last year, it produced more than 400 metric tonnes. It takes around one and a half months to pluck apples from the orchard, he said, adding that they generated an annual income of over Rs 50 million from apple farming.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The production is supplied to various major cities of Nepal including Kathmandu and Pokhara under the brand of &#39;Himalayan Fresh&#39;. Cold stores have been set up at Bhratang, Besishahar and Kathmandu. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;At present, Nepal has been importing apples worth Rs 13 billion annually from foreign countries. We must produce apples enough to meet the demand at home to stop the imports. For this, it requires motivation and encouragement for farmers to engage in apple farming,&quot; said former lawmaker Polden.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">We have a plan to export the apple produced here to third countries through Kolkata in India, said Samaraj. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Himali (High Mountain Agribusiness and Livelihood Improvement) Project provided a subsidy of Rs 22 million to grow apple, and the Prime Minister Modernisation Project provided subsidies to purchase fertilisers and seeds, and in packaging, he said. Most of the apple trees (total 62,000) in the orchard have started producing apples, and 32 people have been directly employed, he added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Agriculture Knowledge Centre, Manang, apple cultivation has expanded to over 13,000 hectares of land using the new technology. The centre said that the government has been providing 50 percent subsidies for management and 75 percent for apple saplings after selecting the farmers. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Apples produced using this technology are generally considered to be of high quality, sweet and juicy with demand in the market, he said. The production is exported to Besisahar, Pokhara, Chitwan, Kathmandu and the international market as well, said the knowledge centre.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The lack of road connectivity has posed a problem in transporting the produce from Manang. As a result, apples produced in Manang are not getting a decent price, complained the farmers. Due to bad condition of roads, in many cases, fresh and healthy apples end up rotting by the time they reach the market, they said. -- RSS&nbsp; </span><br />
&nbsp;&nbsp; </span></span></p>
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		'Article' => array(
			'id' => '18674',
			'article_category_id' => '1',
			'title' => 'Downpour in Kathmandu Valley as WFD Issues Alert for Safety   ',
			'sub_title' => '',
			'summary' => 'August 8: The Kathmandu Valley has been witnessing heavy rainfall since last night, causing floods in the rivers and streams. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: The Kathmandu Valley has been witnessing heavy rainfall since last night, causing floods in the rivers and streams. The Weather Forecasting Division said the federal capital saw continuous downpour since Monday night.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The division said that the country will receive rainfall for some more days as the low pressure turf of monsoon is north of the average location (near Nepal). The heavy rainfall is a result of the monsoon winds and low pressure system around Bihar of India, the WFD said.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Currently, light to moderate rainfall has been taking place in Madhes, Bagmati, Lumbini and Gandaki provinces.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Meanwhile, the division has issued alert, urging people not to go near the rivers and streams which are flooded with downpour. The flood forecasting section under the division has appealed to all to stay alert till 11:00 am as the water level has been rising in the rivers and streams.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Budhanilakantha, Surdarijal, Nagarkot and the vicinity had heavy rainfall since 6:00am today (Tuesday). It has triggered floods in Bishnumati, Dhobikhola and Manohara rivers and streams, said the division urging people travelling on the road along the rivers to be cautious.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The weather forecasting bulletin of the division has mentioned that Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces are likely to have more rainfall while others to have light to moderate rainfall.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">One to two places in Koshi, Lumbini, Madhes and Bagmati provinces are likely to have downpour coupled with thunderstorm and lightning. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'id' => '18673',
			'article_category_id' => '251',
			'title' => 'Exploring the Reasons Behind Nepali Students' Exodus in Pursuit of Higher Education Abroad',
			'sub_title' => '',
			'summary' => 'A number of factors such as societal and peer pressure, pervasive political interference in academics, mess in education system, and inherent curiosity prevalent in today's youngsters combine to drive Nepal's students to seek education abroad in foreign universities and colleges. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 8: Hangma Limbu is currently doing A-Levels at Malpi Institute in Baluwatar. After her class concluded, I engaged in a casual conversation with her. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Curious about her choice of A-levels, I inquired, &quot;What motivated you to opt for A-levels?&quot; To this, she promptly responded, &quot;A-levels serve as a direct passport for international opportunities,&quot; highlighting their potential to facilitate for overseas education.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Milan Sharma works as a Senior Reporter at a prominent national economic newspaper in Kathmandu. He holds a Bachelor of Business Administration (BBA) from Pokhara University with straight A&rsquo;s across all subjects. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One Saturday morning, we met at a caf&eacute; and delved into diverse topics. As our conversation drew to a close, Milan expressed his interest in seeking guidance to secure funding for a Master&#39;s Degree at a reputable university in either the US or Canada.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the summer hiatus of 2023, I embarked on a journey to my uncle&#39;s house in Jhapa. My uncle is the proud father of Rojan, his eighth-grade son. Though Rojan has a commendable academic track record, uncle is concerned with Rojan&rsquo;s proficiency in English. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;Recommend some books and resources to assist your younger brother in enhancing his English skills, enabling him to excel in IELTS and pursue higher education in Australia post his twelfth grade,&quot; my uncle commanded me.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These instances reflect the growing trend of students seeking higher education abroad. If the ongoing exodus of students seeking higher education abroad persists, there is a risk of classrooms and lecture halls going vacant. This concerning trend could potentially culminate in the unfortunate closure of colleges and universities in the future in the country, some analysists fear. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This write-up aims at exploring the major reasons behind &nbsp;the exodus of Nepali students to overseas in pursuit of higher education. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Social reason:</strong> our society has constructed a new narrative of social status. If you venture out in the foreign land and settle down there, you and your family receive admiration and respect. If you study, work and settle down in English speaking country, you receive a tag of being competent, capable, and successful in the eyes of the society.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Not going anywhere, especially to America, Canada, or Australia, is tantamount to a failure. If you work in a private company, have launched a small business, people don&rsquo;t even recognize your efforts. They say, &ldquo;he started a business because he could not go abroad&rdquo;. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;If you study, work and settle down in English speaking country, you are competent, capable, and successful in the eyes of the society. Not going anywhere, especially to America, Canada, or Australia, is tantamount to becoming a failure</strong>.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many parents begin to plan for sending their children abroad from as early as high school. However, instead of assisting their children in discovering their interests and talents, some parents prioritize the idea of sending them to a foreign country for the sake of &quot;prestige and status in society.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Another motivation driving this pursuit is the desire to eventually visit the country where their sons and daughters settle down. Phrases like &quot;My son resides in the USA&quot; or &quot;My daughter holds permanent residency in Canada&quot; often serve to boost parent&rsquo;s egos within the community.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, there are young individuals who initially have a strong desire to study, work, and remain in their home country. However, after a few semesters, their enthusiasm to stay in Nepal can suddenly wane. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, their peers from school may have already ventured abroad, flooding social media with picturesque images of beaches, iconic landmarks, expansive highways, and grand universities surrounded by lush greenery. These posts can easily divert the attention of these young individuals from their academic and professional pursuits in Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Parents, too, hold certain expectations from their children. They compare their children&#39;s progress with those of their peers and ask questions like, &quot;Your friend has already sent money and phones to his parents. When will you start working and earning? Why don&#39;t you apply and go abroad like them?&quot; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These parental questions add to the pressure felt by sons and daughters. This combination of peer pressure and familial expectations compels many young people to pursue opportunities abroad, often at any cost.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Deficiency in education system</strong>: A robust education system hinges on key factors such as dynamic syllabus and curriculum revisions, consistent teacher training and workshops, a transparent and reliable assessment structure, well-equipped laboratories, and timely result announcements. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These elements collectively contribute to the competitiveness of an education system in today&#39;s rapidly evolving world.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the stagnation in curriculum and syllabus updates within Nepal&#39;s education system presents a significant obstacle. Without continuous adjustments, students are deprived of knowledge that aligns with global advancements.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vital fields like technology, business, and sciences demand frequent updates to stay relevant to emerging trends. The absence of timely revisions leaves students ill-equipped with outdated information, ultimately diminishing their competitiveness within the global job arena.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the examination system in Nepal grapples with persistent delays and unreliability, causing substantial disruptions to students&#39; academic journeys and future career prospects. The consistent delays in result publication only add to the frustration. Students find themselves waiting for months, and in some cases, even years, to receive their results. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This delay not only hampers their career trajectory but also impedes their pursuit of further education. A master&rsquo;s two-year course might take four years to complete.&nbsp; This might frustrate youths from pursuing higher education in home country.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;A master&rsquo;s two-year course might take four years to complete.&nbsp; This might frustrate youths from pursuing higher education in home country.&rdquo;</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the dearth of training programs and workshops for faculty members hinders their ability to enhance subject expertise and refine pedagogical skills. The absence of an equitable and transparent hiring process discourages accomplished individuals from pursuing teaching and mentoring roles, further exacerbating the scarcity of qualified educators. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a shortage of well-equipped laboratories impedes practical learning opportunities in subjects such as Physics, Chemistry, agriculture, and engineering. This deficiency in practical facilities undermines the comprehensive educational experience and fails to adequately prepare students for real-world applications.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Compounding these challenges, examinations are not consistently administered according to the published schedule, adding to the uncertainty and disarray within the education system. Even when examinations are conducted as planned, there is no assurance that results will be released in a timely manner, exacerbating the frustration and disruption experienced by students.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Politicization</strong>: Politicization within academic institutions represents a disconcerting facet of Nepal&#39;s education system. This issue becomes evident when examining the affiliation of school, college and university level teachers with various political parties, leading them to neglect their responsibilities and prioritize political advocacy over student performance, skill enhancement, and academic progress.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, political influence extends to the composition of university office members, who are often shared between the ruling government and opposition parties. The appointment of Campus Chiefs by the governing party further highlights the pervasive political interference within academic institutions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, campuses that should serve as bastions of education have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The volatile nature of this politicization is exemplified by unpredictable student union actions, such as padlocking colleges and universities, which disrupts academic activities. Government campuses frequently witness clashes between rival student factions affiliated with different political parties, further exacerbating the politicization of these institutions.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;There is pervasive political interference within academic institutions. Regrettably, campuses have transformed&nbsp;into arenas for political maneuvering rather than centers of innovation, invention, and research.&rdquo;</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Colleges, campuses, and universities, originally envisioned as hubs of intellectual growth, have regrettably become platforms for flexing political muscle and showcasing the strength of rival parties and their student wings.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This intrusive political interference has proven to be a significant impediment to the pursuit of quality education and research. Consequently, the dream of attaining a genuinely high-quality education remains elusive.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Student unions frequently subject college and university administrations to duress, preventing them from working freely and fairly towards academic development. D</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">isturbing incidents of students assaulting faculty members under various pretexts serve&nbsp;as distressing indicators of the chaos and impunity that have permeated Nepal&#39;s education system.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Lacuna between theory and practice: </strong>The education system in Nepal suffers from a significant imbalance between theory and practical skills, which hampers students&#39; ability to succeed in the real world. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A prime example of this discrepancy can be observed in the field of Business Administration (BBA), where graduates may lack fundamental knowledge of essential banking and insurance services despite completing their degree. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, graduates in the field of agriculture often lack practical skills required for effective agricultural practices. Language and literature graduates may struggle when it comes to crafting well-written application or complaint letters, highlighting the deficiency in practical writing skills.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, universities and colleges have become factories that produce a surplus of unemployed graduates. These individuals may have spent several years pursuing their education, but their lack of marketable skills leaves them struggling to secure decent employment in today&#39;s fiercely competitive job market.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The curriculum primarily focuses on imparting theoretical knowledge, neglecting the crucial practical skills necessary for survival and success in various industries and areas. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Shortage of opportunities:</strong> One of the pressing issues Nepal faces is the lack of opportunities and inadequate incentives for educated youths inside the country. Despite their qualifications, many individuals, including engineering and medical science graduates, find themselves jobless due to the scarcity of suitable employment options. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This lack of opportunities has led to a significant outflow of doctors, nurses, engineers, and other professionals seeking better prospects abroad. The perception of limited job prospects and minimal job security in the country has encouraged talented graduates with exceptional academic records to pursue higher education in foreign lands. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even in cases where employment opportunities do exist, these jobs often pay meager compensation packages and lack the security necessary to sustain a prosperous livelihood. The corporate landscape is plagued by companies and industries notorious for paying paltry salaries, compelling the youth to turn their gaze towards foreign shores.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Inherent Curiosity</strong>: Humans, particularly the younger generation, possess an innate curiosity that drives them to travel to novel destinations, embrace unfamiliar cultures, and amass fresh experiences.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout the course of human history, individuals have embarked on journeys, driven by the pursuit of opportunities, the allure of exploration, and the desire to uncover new territories. Even prior to the advent of modern transportation methods, humans displayed a penchant for world exploration.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The evolution of communication and transportation technologies has transformed the world into a closely interconnected global community. Consequently, it is entirely natural for young individuals to step beyond their comfort zones and embark on global expeditions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the contemporary era, the notion of staying rooted in a single location indefinitely has lost its appeal. People aspire to pursue education in one nation, pursue careers across several others, engage in humanitarian work in distant corners of the world, and ultimately retire in a foreign land.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hence, it is unsurprising that Nepali youngsters, like their global counterparts, venture beyond their homeland in search of educational goals, personal growth, lucrative opportunities, skill acquisition and international exposure. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Conclusion:&nbsp;</strong>The trend of students seeking higher education abroad is a multifaceted issue with far-reaching implications. The stories of Hangma Limbu, Milan Sharma, and Rojan highlight the undeniable allure of international education, job opportunities, and the pursuit of personal growth that push individuals away from their home country. However, this growing exodus raises crucial concerns that call for serious attention. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal&#39;s education system is marred by systemic deficiencies, from outdated curricula to unreliable examinations, and a lack of practical training facilities. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The pervasive politicization of academic institutions further undermines the quality of education, transforming campuses into arenas of political maneuvering rather than centers of intellectual growth.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gap between theoretical knowledge and practical skills has left many graduates unprepared for real-world challenges, contributing to unemployment and underemployment. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the intrinsic curiosity of the human spirit remains a driving force. The urge to explore, learn, and embrace new experiences is a universal trait, propelling Nepali youngsters to set their feet in the foreign lands to broad their horizons. </span></span></p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '18402',
			'image' => '20230808061226_collage (6).jpg',
			'article_date' => '2023-08-08 06:00:15',
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	(int) 6 => array(
		'Article' => array(
			'id' => '18672',
			'article_category_id' => '1',
			'title' => 'NEPSE Grants Membership to Three New Broker Companies',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) has granted membership to all new broker companies that applied for it. In three phases, NEPSE has granted membership to a total of 17 broker companies.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Nepal Stock Exchange (NEPSE) has granted membership to all new broker companies that applied for it. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In three phases, NEPSE has granted membership to a total of 17 broker companies.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first and second phases, NEPSE granted membership to seven broker companies each on July 7 and July 28.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the third phase, on August 4, three broker companies - Mega Stock Market Limited, Machhapuchhre Securities Limited, and Nabil Securities Limited - were given membership.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Giriraj Dahal, Assistant Manager at NEPSE, Mega Stock Market, Machhapuchhre Securities, and Nabil Securities have been assigned broker numbers 75, 76, and 77 respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nabil Securities, with a capital of Rs 1.5 billion, will function as a stock dealer.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mega Stock Market, with a capital of Rs 600 million, will function as a second-tier broker, providing services like investment consulting, investment management, margin trading, and share trading. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Machhapuchhre Securities, with a capital of Rs 230 million, will operate as a broker company with limited activities.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As of now, 29 new companies have secured broker licenses from the Securities Board of Nepal (SEBON). During the three phases, SEBON granted licenses to seven, 11, and 11 new companies respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Companies that have obtained broker licenses from SEBON are required to also gain membership from NEPSE as per the existing regulations of the board. Currently, 17 companies have received NEPSE membership.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KBL Securities Limited licensed by SEBON, has not applied for NEPSE membership as it is in the process of merging with an old broker company.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SEBON has classified brokers into three categories, based on a minimum paid-up capital of Rs 200 million, Rs 600 million, and Rs 1.50 billion for broker licenses.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In accordance with the same framework, the board has granted licenses to one stock trader, one full-service stock broker, and 27 limited-service stock brokers.</span></span></p>
',
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			'created' => '2023-08-07',
			'modified' => '2023-08-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '18401',
			'image' => '20230807052917_collage (2).jpg',
			'article_date' => '2023-08-07 17:27:14',
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	(int) 7 => array(
		'Article' => array(
			'id' => '18671',
			'article_category_id' => '1',
			'title' => 'Public Procurement Monitoring Office to Operate 'Procurement Clinic'   ',
			'sub_title' => '',
			'summary' => 'August 7: The Public Procurement Monitoring Office (PPMO) is preparing to operate 'Procurement Clinic' with the objective of resolving the problems faced in connection with issues related to public procurement.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 7: The Public Procurement Monitoring Office (PPMO) is preparing to operate &#39;Procurement Clinic&#39; with the objective of resolving the problems faced in connection with issues related to public procurement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The clinic aims to help in capacity development of the human resources involved in the procurement unit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Secretary at the PPMO Dr Damodar Regmi told the state-owned National News Agency, RSS, that the office will run &#39;procurement clinic interactive programme&#39; wherein the participants will express about the challenges that come up regarding public procurement issues and the experts will tell them about the ways of resolving the problems.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;Procurement clinic will be operated soon for the employees of the local level and the province level,&rdquo; said Regmi, adding, &nbsp;&ldquo;The procurement clinic is a successful international practice which can develop the capacity of the human resources involved in the procurement job.&quot; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The PPMO is also preparing to develop a general guideline on public procurement so as to simplify the issues related to the public procurement process which in itself is a technical issue and its laws are complex. The simple guideline will be prepared as promptly as possible for resolving problems related to public procurement faced by the provincial and local level offices as well the federal offices.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Secretary Regmi further added that intensive training on e-procurement would also be held for enhancing the public procurement capacity of the local and provincial governments. -- RSS</span></span></span></p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '18400',
			'image' => '20230807043651_PPMOOO.jpg',
			'article_date' => '2023-08-07 16:36:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '18670',
			'article_category_id' => '1',
			'title' => 'Construction Entrepreneurs Announce more Protest Programmes ',
			'sub_title' => '',
			'summary' => 'August 7: The Federation of Contractors' Associations of Nepal (FCAN) has announced more protest programmes saying that the government has not yet addressed their legitimate demands. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">August 7: The Federation of Contractors&#39; Associations of Nepal (FCAN) has announced more protest programmes saying that the government has not yet addressed their legitimate demands. The federation announced the second and third phases of protest programme at a press conference in Kathmandu on Sunday. As part of the second phase of the programme, the federation has announced the protest from Monday, August 7 to Friday, August 11.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The federation has announced a daily demonstration through the week with a whistle rally in addition to a procession, a corner meeting and a sit-in, from the Federation to the Parliament building with black bands in their hands. Similarly, as part of the third phase of protest programme, all non-essential construction works will be stopped indefinitely from Sunday, August 13, said FCAN President Ravi Singh.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Under the third phase of protest programme, the federation will organize a live public hearing among construction experts. In the press conference, the president of the federation Singh said that only if the construction industry functions the overall economy will function.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He said that the payment for the work completed by the builders cannot be stopped under any pretext.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Yakshadhwaj Karki, adviser and former president of the federation, said that there are many problems in the construction industry and that it is wrong for the consumer committee to get involved in construction works. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">General Secretary of the Federation Roshan Dahal said that the federation is agitating with demands such as payment of all construction works, amendment of the extension order issued by the Nepal government and re-issue of a lump-sum extension of the entire project. The Federation of Nepalese Chamber of Commerce and Industries, Nepal Heavy Equipment Federation and other organizations have expressed solidarity with the ongoing movement of the federation.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2023-08-07',
			'modified' => '2023-08-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '18399',
			'image' => '20230807034938_fcann.jpg',
			'article_date' => '2023-08-07 15:48:29',
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	(int) 9 => array(
		'Article' => array(
			'id' => '18669',
			'article_category_id' => '1',
			'title' => 'Buddha Air’s Tickets now Available through IME Pay',
			'sub_title' => '',
			'summary' => 'August 7: Passengers can now purchase tickets of Buddha Air through the airline company’s website and app using IME Pay.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 7: Passengers can now purchase tickets of Buddha Air through the airline company&rsquo;s website and app using IME Pay. The service was launched on Sunday after IME Pay and Buddha Air signed an agreement to this effect.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As per the agreement, passengers will be able to pay easily by selecting IME Pay while purchasing tickets on Buddha Air&rsquo;s website and app. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Passengers will also get a free coupon of Chandragiri Cable Car on every payment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Issuing a statement, IME Pay said that the company expects encouragement in creating a cashless society for the convenience of customers. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Praveen Regmi, Chief Executive Officer of IME Pay, said that the agreement was signed with the aim of making the air travel experience of the user more convenient.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2023-08-07',
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			'sortorder' => '18398',
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			'article_date' => '2023-08-07 14:32:30',
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	(int) 10 => array(
		'Article' => array(
			'id' => '18668',
			'article_category_id' => '1',
			'title' => 'Profit of Commercial Banks Increased by 25 Percent during Last FY',
			'sub_title' => '',
			'summary' => 'August 7: The net profit of commercial banks increased by almost 25 percent in the last fiscal year (FY 2022/23) despite slowdown of economic activities due to the impacts of Covid-19 and Russia-Ukraine war.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 7: The net profit of commercial banks increased by almost 25 percent in the last fiscal year (FY 2022/23) despite slowdown of economic activities due to the impacts of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> and Russia-Ukraine war.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The profits of banks improved in the review year due to the increase in income from interest and the control in growth rate of bad loans. According to the financial statements published by the commercial banks for the FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23, they earned a total net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">70</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">.17 billion in the review year. In the previous year (FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">21</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22), the profit was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">56.17</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion, which is an increase of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">24.93</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent last year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Although the profit growth rate decreased in the first, second and third quarters of the last fiscal year, there was an improvement in the fourth quarter. Compared to the same period of the previous year, the profit increased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">5.94</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the first quarter of FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23, by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">11.10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the second quarter and by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">11.67</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the third quarter. Coming to the fourth quarter, the growth in profit was more than double compared to the third quarter.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Former banker Analraj Bhattarai said that although the business expansion of banks was not significant in the last fiscal year, the increase in spread rate and the increase in income from investments made by banks in treasury bills and bonds had a positive effect on the profit. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&quot;Last year, the spread rate was also high and the income from the government treasury was also good,&quot; he said, &quot;Because of which the profit of the banks has been seen somewhat positive.&quot;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">He says that the merger of banks had a positive effect on some banks. However, compared to the capital of the banks, this year&#39;s profit should be considered normal, Bhattarai said.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">In the fourth quarter of the last fiscal year, banks also succeeded in controlling bad loans. In the previous year, bad loans of banks were </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. However, bad loans of banks increased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.83</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the first quarter of FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23. Bad loans further increased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.35</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the second quarter while the average bad loans reached </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">3.03</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent by the third quarter. In the fourth quarter, banks succeeded in reducing bad loans to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.7</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Control of bad loans also had a positive effect on the profit of banks. Former banker Bhattarai says that it can be compared to the financial discipline of banks and businessmen. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Last year, Nabil Bank earned the highest net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.52</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion after acquiring Nepal Bangladesh Bank which is an increase of 76.86 percent compared to the previous year. Similarly, Global IME Bank, which merged with Bank of Kathmandu, earned a net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.25</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion. The profit of Global IME increased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">46.26</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">In the last fiscal year, the profit of Kumari Bank and Prime Commercial Bank was less than the previous year. The profit Kumari, which acquired NCC Bank, decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">24.14 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent compared to the previous year and was limited to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.95 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion. In the previous year, the profit of the bank was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.57 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion rupees. Similarly, the profit of Prime Bank decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">18.81 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.26 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Project Cost of MCC to Increase by Rs 900 Million',
			'sub_title' => 'Preparations Underway for Declaring EIF Phase of MCC from mid-August',
			'summary' => 'August 7: The Millennium Challenge Corporation (MCC) Compact that was signed between the Ministry of Finance and the US Government around six years ago has reached the entry into force (EIF) phase and the development itself marks a significant milestone in the implementation of the agreement. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">August 7: The Millennium Challenge Corporation (MCC) Compact that was signed between the Ministry of Finance and the US Government around six years ago has reached the entry into force (EIF) phase and the development itself marks a significant milestone in the implementation of the agreement.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to the Millennium Challenge Account (MCA)-Nepal Development Committee, preparations are on to announce the date for EIP regarding the MCC soon.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over the course of six years since signing of the agreement, the Compact was endorsed by the Federal Parliament along with a 12-point descriptive note. During this period, Nepal has met almost all conditions, five out of six, required to be enabled by it before advancing the agreement to the implementation phase. Of the six prerequisites, land acquisition for the implementation of the pact has been awaited.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">However, over the course of time, Nepal is needed to own up additional economic responsibility for initiations and projects to be implemented under the agreement. Initially, it was agreed that USD 500 million shall be provided in grants to Nepal while the government shall bear USD 130, expecting the total cost of the MCC project to remain at USD 630 million.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&nbsp;But the &#39;supplemental agreement&#39; over the MCC that was signed in last May-June, demands the government to bear additional USD 67 million, seeking its total contribution of USD 197 million to the enforcement of the agreement. In the beginning, Nepal was supposed to take up the 20.63 per cent economic responsibility for the MCC project and now it has risen to 28.26 percent. The increased responsibility amount is equivalent to Rs 900 million.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The preparations for the announcement of EIF date&nbsp; sans meeting all the preconditions is another concern regarding the implementation of projects under the MCA-Nepal, the government agency formed to implement the projects co-funded by the US government under the MCC.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The acquisition of land for the implementation of MCC Nepal Compact projects, as well as the guarantee of the land use rights within forest areas is still awaited.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Compact mandates the project implementing body to complete the projects within five years of the declaration of EIF.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The prevailing time provides room to doubt over the completion of the projects within the stipulated time frame.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">This article primarily highlights the factors contributing to the increase in the cost of Compact implementation and sheds light on the reasons behind the decision to proceed with the Entry into Force (EIF) without fulfilling all the prerequisites.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Factors contributing to additional responsibility for Nepal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Council of Ministers on May 23 decided to endorse the Finance Ministry&#39;s proposal to revise the agreement between Nepal and the MCC and increase the government&#39;s share in its implementation.&nbsp; On the basis of the same agreement, Nepal Electricity Authority (NEA) and the MCA-Nepal on May 30 signed the &#39;supplemental agreement&#39;.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The NEA and MCA-Nepal signed the agreement a few days ago. The MCA-Nepal issued a public statement citing that &quot;The government has decided to include additional endeavors included in the electricity transmission projects under the MCC Compact on the request of the Nepal Electricity Authority.&quot; &nbsp; The statement further mentioned that the additional budget of USD 67 million required to implement these additional endeavors will be managed from the major budget of the Compact. In the event of the full utilization of the allocated budget, any insufficient funds will be borne by the NEA.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The additional budget to be required for the implementation of the Compact is to be considered as the government&#39;s contribution to it and it will be adjusted in the relevant schedule of the Compact through the implementation letter.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Road and electricity projects are the areas of priorities for Nepal identified by the MCC Compact signed on September 14, 2017.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">As per the statement, the cost amount of USD 67 million which has been recently added will be spent for the construction of the section of the 400kV New Butwal-Gorakhpur Nepal-India Inter-country Transmission line towards the Nepal side and for increasing the capacity of three substations. This transmission line project is in the construction process at present.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Schedule-1 (B) (1) of the MCC Compact states about the transmission line to be constructed under MCA-Nepal. It is mentioned in the Compact that around 300 kilometers of double circuit 400 kV transmission line would be constructed within Nepal.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Compact states that the transmission line would be constructed on five different routes &ndash; from Lapsiphedi of Kathmandu up to Ratamaate, from Ratamate to Hetauda, from Ratamate to Damauli, from Damauli to Butwal and from Butwal to the India border. This means that the plan of constructing the transmission line from Butwal to the India border for which the added cost has been managed is included in the existing cost of USD 630 million.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">RSS had approached the MCA-Nepal for its comment regarding allocation of additional budget for the construction of the transmission line on this route the estimated cost of which has been already included in the Compact. In response, MCA-Nepal stated that the amount added in the MCC Nepal Compact programme would be merged with the Electricity Transmission Project &nbsp; budget and it would be used for increasing the capacity of three substations by installing extra &#39;bays&#39; as per the requirement and request of Nepal Electricity Authority (NEA).&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">To RSS&#39; question whether the amount merged in this way can be termed as an increment in the project&#39;s cost, MCA-Nepal&#39;s information officer Rajib Dahal said the cost automatically goes up when extra work has to be carried out than what was previously determined.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&quot;Additional work of expanding the capacity of the under-construction three substations by installing extra bays is being carried out from the amount added on behalf of the Government of Nepal to the MCC Nepal Compact, as per the NEA&#39;s need and request. The increase in cost is obvious after the addition of extra work on the predetermined work. Therefore, we can call it the need for additional investment due to the expansion of the limit of the project&#39;s work,&quot; the MCA-Nepal has stated.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Similarly, MCA-Nepal has said although some changes have been made in the works of the Road Maintenance Project, it will not have any impact on the overall budget related to the roads.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">NEA executive director Kulman Ghising said India had already started the process for tender for the construction of the transmission line on its side.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&ldquo;But in our case, the dispute whether the MCC Compact would be endorsed by the parliament or not was not finalized. Therefore, we detached this from the MCC Compact,&quot; Ghising said, adding that the tendering process of programmes under the MCC Compact also moves ahead after the parliament&#39;s endorsement. &quot;It was again included in the MCC after coming to the conclusion that only small contractors will come for the bidding when NEA does the contract for the project whereas big contractors would come if the MCA-Nepal calls for the contract. The cost increased after the NEA added to the scope of work that was already in the compact before.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Preparations for EIF without meeting prerequisites&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The agreement which was signed on 14 September, 2017 between the Finance Ministry of Nepal and the MCC, was endorsed by the parliament on 27 February, 2022.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The countdown for the five-year project will as per the agreement begin from the day of EIF.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to the preliminary agreement, EIF would take place from 30 June 2020. However, many factors like a dispute in getting the compact endorsed from the parliament and other difficulties are blamed for the delay.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Land acquisition as a prerequisite for EIF has yet to take place</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to Section 8.1 of Article 8 of the MCC Compact, the Government will ensure the full and expeditious cooperation of all relevant government entities to ensure that all land acquisition, site access, and forest clearance required to implement the Compact is provided in a timely manner, and consistent with all MCC policies.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Asked about the implementation of the compact, the MCC Nepal said the date for its implementation would be announced within the Nepali month of Bhadra. &quot;Preparations are underway to announce the date for the implementation of the MCC Nepal Compact 2080,&quot; said the MCC Nepal.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">It requires a total of 1,471 hectares of land for the electricity transmission project, and around 20 hectares for the construction of a substation at Ratmate in Nuwakot. It requires 104 hectares of land for constructing around 856 electrical towers. There is still a dispute in the land required for constructing a substation, and the distribution of compensation for the land acquired for the transmission line has yet to begin, said the MCC Nepal.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&quot;Except for a family-disputed plot, the distribution of compensation for the land acquired for a substation at Ratamate has been completed. A preliminary legal process has been initiated to acquire the land required to build the electrical towers.&quot;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The legal process to determine compensation amounts for the land acquired for the project has started under the leadership of Chief District Officer of the respective district of the total nine affected districts, it has been said. The affected areas have 122 community and government forests.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over Rs 10.8 billion allocated for the current FY</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">For the project, the government has allocated over Rs 10.8 billion for the current FY, 2023/24. Out of the allocated budget, Rs 8.7 billion will go for the electricity transmission project, Rs 1.5 billion for road repair, Rs 2 million for monitoring and evaluation, and Rs 555 million for administrative work. -- RSS</span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '18666',
			'article_category_id' => '1',
			'title' => 'CIB Handed Responsibility to Investigate into Gold Smuggling',
			'sub_title' => '',
			'summary' => 'The Central Investigation Bureau (CIB) of Nepal Police has been handed over the responsibility to further investigate the smuggling of 100 kg gold.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Central Investigation Bureau (CIB) of Nepal Police has been handed over the responsibility to further investigate the smuggling of 100 kg gold.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;After 17 days of the seizure of the gold smuggled from foreign country, the Revenue Investigation Department (RID) handed over the responsibility to the CIB to dig deeper into the gold smuggling incident on Sunday. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Director General of RID Nabaraj Dhungana said that the CIB had been provided with the files of the investigations to dig further issues into the case of gold smuggling.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhungana said that entire other activities of the investigations now would be carried out by the CIB. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier on Thursday, Prime Minister Pushpa Kamal Dahal &#39;Prachanda&#39; had directed the RID to give responsibility to the CIB for investigation.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the PM&#39;s directive, the files have been sent to the CIB by fulfilling necessary processes.&nbsp; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Now, the CIB will also investigate the financial issues, organized and trans-national crimes. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Deputy Inspector General of Nepal Police Kuber Kadayat said that the CIB will begin the investigation after getting letter from the Department.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Currently, 17 individuals are in the custody of security force on their alleged involvement in the case. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">(RSS)</span></span></p>
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		'Article' => array(
			'id' => '18665',
			'article_category_id' => '1',
			'title' => 'Lalita Niwas Land Scam: SC Orders to Probe Decision Makers',
			'sub_title' => '',
			'summary' => 'The Supreme Court (SC) on Sunday ordered to investigate into the individuals directly responsible for decision-making related to Lalita Niwas land grab scam.  The directive was issued by a bench comprising Justices Anil Kumar Sinha and Dr. Kumar Chudal.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Supreme Court (SC) on Sunday ordered to investigate into the individuals directly responsible for decision-making related to Lalita Niwas land grab scam.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The directive was issued by a bench comprising Justices Anil Kumar Sinha and Dr. Kumar Chudal. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The implicated decisions were made during the tenures of Madhav Kumar Nepal and Dr. Baburam Bhattarai as Prime Ministers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The SC&#39;s order mandates an investigation into members of the former Council of Ministers responsible for decision-making, as well as those who certified these decisions for implementation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, the SC has also ordered to investigate those taking the proposal to the higher level or authority.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
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			'title' => 'Ncell Flood Alert SMS Contributing to Saving Lives of Nepali Citizens',
			'sub_title' => '',
			'summary' => 'August 6: Ncell, a private sector telecommunication giant of Nepal, has claimed that the company has been disseminating early warning SMS alerts to people living in flood-prone areas, contributing to saving lives and properties from monsoon-induced floods each year.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 6: Ncell, a private sector telecommunication giant of Nepal, has claimed that the company has been disseminating early warning SMS alerts to people living in flood-prone areas, contributing to saving lives and properties from monsoon-induced floods each year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Issuing a statement, Ncell said that the company has sent over 4.4 million such SMS in the last two months, pre-informing people from flood risk areas.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The areas where SMS alerts were disseminated this year include downstream communities or basins of major rivers such as Narayani, Babai, Rapti, Kankai, Bagmati, Koshi, and Karnali, among others. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Ncell under its Corporate Social Responsibility (CSR) has been pre-notifying risks of flood via SMS since 2016 in collaboration with the Department of Hydrology and Meteorology (DHM), added the statement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Under this initiative, Ncell has been collaborating with the DHM for Early Warning System (EWS) to broadcast SMS alerts to the public mainly during the monsoon season. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Early warning SMS alerts ensure that people get pre-informed about the risk and move to safe locations with their belongings, while organisations involved in disaster response and preparedness get time to act on time, the statement further said. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">When the water level returns to normal in the rivers, people also receive an SMS alert that there is no looming risk, and they can now return to their places. &nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&ldquo;At Ncell, we are committed to serving people and the community of Nepal. Leveraging on our technical expertise and reach, we are pleased to support our community of Nepal with timely dissemination of flood alerts contributing to reducing potential loss of lives and properties every year during monsoon. This collaborative initiative under our CSR is a testament to how public-private partnership can deliver results for the betterment of our society,&rdquo; the statement quoted Ncell&rsquo;s Chief Executive Officer and Managing Director Jabbor Kayumov as saying.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">DHM through its telemetry stations keeps close track of the hydrological and metrological situations and triggers the messaging based on the level of water in the rivers. Ncell upon DHM&rsquo;s request broadcasts location-based alert messages to people living along the downstream communities of rivers known for creating flood mayhem via short code number 1155, which is also a DHM&rsquo;s toll-free hotline dedicated to providing information updates on flood situations. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the Flood Forecasting Division of DHM, with almost all households having access to GMS mobile service, flood SMS alert has been one of the most effective mediums in the flood EWS to minimize loss of lives and properties, and it is thankful to Ncell for collaboration in this noble cause, the statement reads.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The statement says that apart from individuals within the identified hazard zones, these alerts are also sent to vital organisations involved in disaster risk reduction, including the National Emergency Operating Centre for necessary activities on disaster response and preparedness.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As part of continued collaboration, last year Ncell disseminated over 7.8 million such flood alerts mainly during monsoon to the public from basins and communities that are identified as flood-prone areas. After signing an agreement for this initiative in 2016, Ncell and DHM strengthened the association further in 2018 for improving disaster preparedness.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As a responsible corporate entity, Ncell said it remains committed to serving people and the community and is also exploring possibilities to implement EWS for other hydro-meteorology related disasters too. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&ldquo;As DHM installs new telemetry devices and expands hydro-meteorological stations, Ncell will continue to provide similar connectivity support to those stations, so that more people could benefit from the EWS initiative.&rdquo;</span></span></span></p>
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		'Article' => array(
			'id' => '18678',
			'article_category_id' => '1',
			'title' => 'NRB Increases Foreign Exchange Limit for Airline Companies',
			'sub_title' => '',
			'summary' => 'August 8: Nepal Rastra Bank has increased the foreign exchange facility that airlines companies get for importing services.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 8: Nepal Rastra Bank has increased the foreign exchange facility that airlines companies get for importing services.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The central bank has increased the limit of US</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">$</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">or equivalent that airline operators can exchange to US$ 100,000 by revising the Unified Directive-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2079</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> on Monday.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Similarly, the central bank has also increased the limit of import &nbsp;through Document Against Payment (DPA) and Document Against Acceptance (DAA).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the instructions, the limit of US$ </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">50,000</span></span> <span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">for imports through DPA and DAA has been increased to US$ </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">60,000</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">. Similarly, arrangement has been made for importers to import goods worth INR 30 million from India through DAA.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The NRB revised the Unified Directive to implement the announcements made in the monetary policy of the current fiscal year.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '18677',
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			'title' => 'NRB Increases Maximum Limit for Opening LC to Ease Imports',
			'sub_title' => '',
			'summary' => 'August 8: With the increase in foreign exchange reserves, Nepal Rastra Bank (NRB) has increased the maximum limit for opening letters of credit (LC) to ease imports. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">August 8: With the increase in foreign exchange reserves, Nepal Rastra Bank (NRB) has increased the maximum limit for opening letters of credit (LC) to ease imports. Prior to this, there was a provision which allowed opening an LC of up to USD 50,000 at a time. By amending this provision, the NRB has now allowed imports worth USD 60,000 or INR 30 million at a time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In other words, goods worth USD 60,000 or equivalent in foreign currency can be imported into Nepal through a single transaction. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to this arrangement, after obtaining the foreign exchange facility once, the importer must meet certain conditions for obtaining the same facility for the import of the next shipment of goods from the same exporter, the central bank has mentioned in the amended version of the Unified Circular-2079. In case of imports from India, such limit will be maintained at INR 30 million.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the limit of LC has been increased, some conditions still need to be fulfilled. According to the revised provisions, after importing goods the importers can avail similar facility only after seven days have passed since the previous shipment. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In order to get the same facility for the second time, the importer must submit a form certified by the customs office as proof of import of goods along with the customs declaration form and the receipt of the customs revenue clearance slip to the concerned bank and financial institution. Similarly, importers must also submit a self-declaration regarding the lapse of seven days in addition to these documents if they want to open LC in other banks.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cash limit to be kept as security deposit for import of goods has also been reduced. As per the new provision, the security deposit on import by a manufacturer is maintained at only one percent of the value of imported goods while it is three percent for the traders. Previously, the rate was two percent and 10 percent for a manufacturer and a trader, respectively.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '18676',
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			'title' => 'Heavy Downpour Inundates Different Parts of Kathmandu Valley   ',
			'sub_title' => '',
			'summary' => 'August 8: The incessant rainfall that occurred since last night has caused inundation in different parts of the Kathmandu Valley.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: The incessant rainfall that occurred since last night has caused inundation in different parts of the Kathmandu Valley.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The District Police Range, Kathmandu has said that Dhungedhara, Gaurighat, Guheshwori, Kapan, Samakhushi and Anamnagar, among others have been inundated with downpour. Senior Superintendent of Police Dan Bahadur Karki said, &quot;Heavy rainfall that occurred since last night inundated many places in the Kathmandu Valley. Police teams are making people aware to stay safe in the places near the Bagmati and Manohara rivers with regular patrol and miking.&quot;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The inundations have badly affected public life. Waterlogged roads and schools have caused sheer inconvenience to the people.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Police further said the downpour at Budhanilakantha, Sundarijal and Nagarkot areas flooded the rivers and streams in the Kathmandu Valley.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Weather Forecasting Division has already issued alert to all people to stay safe in the places near the Bishnumati, Dhobikhola, Bagmati, and Manohara rivers citing that there the water level have reached the danger mark. Police teams have been mobilized in different places for public awareness and safety in the wake of floods and inundation, SSP Karki added. -- RSS&nbsp; </span></span></span></p>
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			'title' => 'Manang Farmers Drawn Towards Apple Farming   ',
			'sub_title' => '',
			'summary' => 'August 8: Farmers of the mountainous district of Manang are getting attracted to apple farming with many finding their calling in this sector. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: Farmers of the mountainous district of Manang are getting attracted to apple farming with many finding their calling in this sector. Sol Bahadur Gurung of Naso Rural Municipality-8 has switched to apple farming from traditional agriculture as apple farming generates high income.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;&ldquo;I switched to hybrid apple farming from cereal crops as the production of cereal was of low quantity and the harvest got a delay. I could not generate good income from cereal crop farming,&rdquo; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A high density apple farm based in Manang started growing hybrid apples on four ropanis of land by applying the high density farming technology. Encouraged by good yields, the apple farming has gradually expanded, according to Gurung.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;Most of the farmers in Manang have planted apple saplings brought from the high density apple farm, and are generating good income from it,&rdquo; he said. The farm has been expanding apple cultivation of various varieties including Fuji, gala, golden and delicious red apples initially brought from Italy and Serbia. These species are said to be producing good yields.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Apple trees of these varieties start bearing fruits two years after plantation, and their production increases every year. So, farmers have been attracted to it, added Gurung.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;My apple trees started bearing fruits one year after plantation. It has been four years since they bore fruits,&rdquo; he further said. Gurung started the farming with an initial investment of Rs 1 million. Now, he is satisfied with the income from the farming.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Tanka Gurung of Tilche of Naso Rural Municipality-6 has grown hybrid apple on three ropanis of land. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;This apple bears fruits much earlier, and we can get quick returns on the investment, he said, adding, &ldquo;There is however a problem in transporting the apples to the market due to various reasons like the lack of accessible road network. We are satisfied with the apple production however.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Most of the farmers of the area have switched to hybrid apple farming using the high density farming technology, he added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Although apple can grow nearly in any zone, the fruit tends to thrive in climates where it is cold in the winter and moderate temperature in the summer with medium to high humidity rather than a hot and dry climate. In general, apples can grow best in the regions where the temperature rarely increases above 90 degrees Fahrenheit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">They can grow best on a well-drained, loam soil with a depth of 45 cm and a pH range of 5.5-6.5. The soil should be free of hard substrata and water-logged conditions. Soil with heavy clay or compact subsoil should be avoided.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">An apple tree can produce up to 45 kilograms of apple in a season if the weather is favourable, say agriculture experts.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Most of the farmers in Manang district have cultivated hybrid apple using the high density farming technology, said Rajeshwor Silwal, chief of the Agriculture Knowledge Centre, Manang. They are getting attracted to apple farming because of good production leading to an increase in their income, he said, adding that they were providing technical service to the farmers by reaching their orchards. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&ldquo;Technicians have been deployed from the centre and local levels to provide service to the farmers. Apple cultivation is expanding from the lower parts of Manang to the higher areas,&rdquo; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Agro Manang Private Limited introduced the high density farming technology by planting apple saplings brought by former lawmaker Polden Chhopang Gurung from Italy and Serbia. It has been growing apple species of gala, golden and Fuji on 735 ropanis of land at Bhratang of Dingsyang Rural Municipality in Manang.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It produced over 450 metric tonnes of apple this year, said Samaraj Gurung, chair of Agro Manang. Last year, it produced more than 400 metric tonnes. It takes around one and a half months to pluck apples from the orchard, he said, adding that they generated an annual income of over Rs 50 million from apple farming.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The production is supplied to various major cities of Nepal including Kathmandu and Pokhara under the brand of &#39;Himalayan Fresh&#39;. Cold stores have been set up at Bhratang, Besishahar and Kathmandu. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;At present, Nepal has been importing apples worth Rs 13 billion annually from foreign countries. We must produce apples enough to meet the demand at home to stop the imports. For this, it requires motivation and encouragement for farmers to engage in apple farming,&quot; said former lawmaker Polden.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">We have a plan to export the apple produced here to third countries through Kolkata in India, said Samaraj. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Himali (High Mountain Agribusiness and Livelihood Improvement) Project provided a subsidy of Rs 22 million to grow apple, and the Prime Minister Modernisation Project provided subsidies to purchase fertilisers and seeds, and in packaging, he said. Most of the apple trees (total 62,000) in the orchard have started producing apples, and 32 people have been directly employed, he added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Agriculture Knowledge Centre, Manang, apple cultivation has expanded to over 13,000 hectares of land using the new technology. The centre said that the government has been providing 50 percent subsidies for management and 75 percent for apple saplings after selecting the farmers. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Apples produced using this technology are generally considered to be of high quality, sweet and juicy with demand in the market, he said. The production is exported to Besisahar, Pokhara, Chitwan, Kathmandu and the international market as well, said the knowledge centre.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The lack of road connectivity has posed a problem in transporting the produce from Manang. As a result, apples produced in Manang are not getting a decent price, complained the farmers. Due to bad condition of roads, in many cases, fresh and healthy apples end up rotting by the time they reach the market, they said. -- RSS&nbsp; </span><br />
&nbsp;&nbsp; </span></span></p>
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			'title' => 'Downpour in Kathmandu Valley as WFD Issues Alert for Safety   ',
			'sub_title' => '',
			'summary' => 'August 8: The Kathmandu Valley has been witnessing heavy rainfall since last night, causing floods in the rivers and streams. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 8: The Kathmandu Valley has been witnessing heavy rainfall since last night, causing floods in the rivers and streams. The Weather Forecasting Division said the federal capital saw continuous downpour since Monday night.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The division said that the country will receive rainfall for some more days as the low pressure turf of monsoon is north of the average location (near Nepal). The heavy rainfall is a result of the monsoon winds and low pressure system around Bihar of India, the WFD said.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Currently, light to moderate rainfall has been taking place in Madhes, Bagmati, Lumbini and Gandaki provinces.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Meanwhile, the division has issued alert, urging people not to go near the rivers and streams which are flooded with downpour. The flood forecasting section under the division has appealed to all to stay alert till 11:00 am as the water level has been rising in the rivers and streams.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Budhanilakantha, Surdarijal, Nagarkot and the vicinity had heavy rainfall since 6:00am today (Tuesday). It has triggered floods in Bishnumati, Dhobikhola and Manohara rivers and streams, said the division urging people travelling on the road along the rivers to be cautious.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The weather forecasting bulletin of the division has mentioned that Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces are likely to have more rainfall while others to have light to moderate rainfall.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">One to two places in Koshi, Lumbini, Madhes and Bagmati provinces are likely to have downpour coupled with thunderstorm and lightning. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'title' => 'Exploring the Reasons Behind Nepali Students' Exodus in Pursuit of Higher Education Abroad',
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			'summary' => 'A number of factors such as societal and peer pressure, pervasive political interference in academics, mess in education system, and inherent curiosity prevalent in today's youngsters combine to drive Nepal's students to seek education abroad in foreign universities and colleges. ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 8: Hangma Limbu is currently doing A-Levels at Malpi Institute in Baluwatar. After her class concluded, I engaged in a casual conversation with her. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Curious about her choice of A-levels, I inquired, &quot;What motivated you to opt for A-levels?&quot; To this, she promptly responded, &quot;A-levels serve as a direct passport for international opportunities,&quot; highlighting their potential to facilitate for overseas education.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Milan Sharma works as a Senior Reporter at a prominent national economic newspaper in Kathmandu. He holds a Bachelor of Business Administration (BBA) from Pokhara University with straight A&rsquo;s across all subjects. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One Saturday morning, we met at a caf&eacute; and delved into diverse topics. As our conversation drew to a close, Milan expressed his interest in seeking guidance to secure funding for a Master&#39;s Degree at a reputable university in either the US or Canada.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the summer hiatus of 2023, I embarked on a journey to my uncle&#39;s house in Jhapa. My uncle is the proud father of Rojan, his eighth-grade son. Though Rojan has a commendable academic track record, uncle is concerned with Rojan&rsquo;s proficiency in English. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&quot;Recommend some books and resources to assist your younger brother in enhancing his English skills, enabling him to excel in IELTS and pursue higher education in Australia post his twelfth grade,&quot; my uncle commanded me.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These instances reflect the growing trend of students seeking higher education abroad. If the ongoing exodus of students seeking higher education abroad persists, there is a risk of classrooms and lecture halls going vacant. This concerning trend could potentially culminate in the unfortunate closure of colleges and universities in the future in the country, some analysists fear. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This write-up aims at exploring the major reasons behind &nbsp;the exodus of Nepali students to overseas in pursuit of higher education. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Social reason:</strong> our society has constructed a new narrative of social status. If you venture out in the foreign land and settle down there, you and your family receive admiration and respect. If you study, work and settle down in English speaking country, you receive a tag of being competent, capable, and successful in the eyes of the society.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Not going anywhere, especially to America, Canada, or Australia, is tantamount to a failure. If you work in a private company, have launched a small business, people don&rsquo;t even recognize your efforts. They say, &ldquo;he started a business because he could not go abroad&rdquo;. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;If you study, work and settle down in English speaking country, you are competent, capable, and successful in the eyes of the society. Not going anywhere, especially to America, Canada, or Australia, is tantamount to becoming a failure</strong>.&rdquo;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many parents begin to plan for sending their children abroad from as early as high school. However, instead of assisting their children in discovering their interests and talents, some parents prioritize the idea of sending them to a foreign country for the sake of &quot;prestige and status in society.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Another motivation driving this pursuit is the desire to eventually visit the country where their sons and daughters settle down. Phrases like &quot;My son resides in the USA&quot; or &quot;My daughter holds permanent residency in Canada&quot; often serve to boost parent&rsquo;s egos within the community.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, there are young individuals who initially have a strong desire to study, work, and remain in their home country. However, after a few semesters, their enthusiasm to stay in Nepal can suddenly wane. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, their peers from school may have already ventured abroad, flooding social media with picturesque images of beaches, iconic landmarks, expansive highways, and grand universities surrounded by lush greenery. These posts can easily divert the attention of these young individuals from their academic and professional pursuits in Nepal.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Parents, too, hold certain expectations from their children. They compare their children&#39;s progress with those of their peers and ask questions like, &quot;Your friend has already sent money and phones to his parents. When will you start working and earning? Why don&#39;t you apply and go abroad like them?&quot; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These parental questions add to the pressure felt by sons and daughters. This combination of peer pressure and familial expectations compels many young people to pursue opportunities abroad, often at any cost.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Deficiency in education system</strong>: A robust education system hinges on key factors such as dynamic syllabus and curriculum revisions, consistent teacher training and workshops, a transparent and reliable assessment structure, well-equipped laboratories, and timely result announcements. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These elements collectively contribute to the competitiveness of an education system in today&#39;s rapidly evolving world.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the stagnation in curriculum and syllabus updates within Nepal&#39;s education system presents a significant obstacle. Without continuous adjustments, students are deprived of knowledge that aligns with global advancements.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vital fields like technology, business, and sciences demand frequent updates to stay relevant to emerging trends. The absence of timely revisions leaves students ill-equipped with outdated information, ultimately diminishing their competitiveness within the global job arena.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the examination system in Nepal grapples with persistent delays and unreliability, causing substantial disruptions to students&#39; academic journeys and future career prospects. The consistent delays in result publication only add to the frustration. Students find themselves waiting for months, and in some cases, even years, to receive their results. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This delay not only hampers their career trajectory but also impedes their pursuit of further education. A master&rsquo;s two-year course might take four years to complete.&nbsp; This might frustrate youths from pursuing higher education in home country.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;A master&rsquo;s two-year course might take four years to complete.&nbsp; This might frustrate youths from pursuing higher education in home country.&rdquo;</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the dearth of training programs and workshops for faculty members hinders their ability to enhance subject expertise and refine pedagogical skills. The absence of an equitable and transparent hiring process discourages accomplished individuals from pursuing teaching and mentoring roles, further exacerbating the scarcity of qualified educators. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a shortage of well-equipped laboratories impedes practical learning opportunities in subjects such as Physics, Chemistry, agriculture, and engineering. This deficiency in practical facilities undermines the comprehensive educational experience and fails to adequately prepare students for real-world applications.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Compounding these challenges, examinations are not consistently administered according to the published schedule, adding to the uncertainty and disarray within the education system. Even when examinations are conducted as planned, there is no assurance that results will be released in a timely manner, exacerbating the frustration and disruption experienced by students.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Politicization</strong>: Politicization within academic institutions represents a disconcerting facet of Nepal&#39;s education system. This issue becomes evident when examining the affiliation of school, college and university level teachers with various political parties, leading them to neglect their responsibilities and prioritize political advocacy over student performance, skill enhancement, and academic progress.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, political influence extends to the composition of university office members, who are often shared between the ruling government and opposition parties. The appointment of Campus Chiefs by the governing party further highlights the pervasive political interference within academic institutions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, campuses that should serve as bastions of education have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The volatile nature of this politicization is exemplified by unpredictable student union actions, such as padlocking colleges and universities, which disrupts academic activities. Government campuses frequently witness clashes between rival student factions affiliated with different political parties, further exacerbating the politicization of these institutions.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>&ldquo;There is pervasive political interference within academic institutions. Regrettably, campuses have transformed&nbsp;into arenas for political maneuvering rather than centers of innovation, invention, and research.&rdquo;</strong></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Colleges, campuses, and universities, originally envisioned as hubs of intellectual growth, have regrettably become platforms for flexing political muscle and showcasing the strength of rival parties and their student wings.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This intrusive political interference has proven to be a significant impediment to the pursuit of quality education and research. Consequently, the dream of attaining a genuinely high-quality education remains elusive.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Student unions frequently subject college and university administrations to duress, preventing them from working freely and fairly towards academic development. D</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">isturbing incidents of students assaulting faculty members under various pretexts serve&nbsp;as distressing indicators of the chaos and impunity that have permeated Nepal&#39;s education system.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Lacuna between theory and practice: </strong>The education system in Nepal suffers from a significant imbalance between theory and practical skills, which hampers students&#39; ability to succeed in the real world. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A prime example of this discrepancy can be observed in the field of Business Administration (BBA), where graduates may lack fundamental knowledge of essential banking and insurance services despite completing their degree. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, graduates in the field of agriculture often lack practical skills required for effective agricultural practices. Language and literature graduates may struggle when it comes to crafting well-written application or complaint letters, highlighting the deficiency in practical writing skills.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, universities and colleges have become factories that produce a surplus of unemployed graduates. These individuals may have spent several years pursuing their education, but their lack of marketable skills leaves them struggling to secure decent employment in today&#39;s fiercely competitive job market.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The curriculum primarily focuses on imparting theoretical knowledge, neglecting the crucial practical skills necessary for survival and success in various industries and areas. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Shortage of opportunities:</strong> One of the pressing issues Nepal faces is the lack of opportunities and inadequate incentives for educated youths inside the country. Despite their qualifications, many individuals, including engineering and medical science graduates, find themselves jobless due to the scarcity of suitable employment options. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This lack of opportunities has led to a significant outflow of doctors, nurses, engineers, and other professionals seeking better prospects abroad. The perception of limited job prospects and minimal job security in the country has encouraged talented graduates with exceptional academic records to pursue higher education in foreign lands. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even in cases where employment opportunities do exist, these jobs often pay meager compensation packages and lack the security necessary to sustain a prosperous livelihood. The corporate landscape is plagued by companies and industries notorious for paying paltry salaries, compelling the youth to turn their gaze towards foreign shores.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Inherent Curiosity</strong>: Humans, particularly the younger generation, possess an innate curiosity that drives them to travel to novel destinations, embrace unfamiliar cultures, and amass fresh experiences.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout the course of human history, individuals have embarked on journeys, driven by the pursuit of opportunities, the allure of exploration, and the desire to uncover new territories. Even prior to the advent of modern transportation methods, humans displayed a penchant for world exploration.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The evolution of communication and transportation technologies has transformed the world into a closely interconnected global community. Consequently, it is entirely natural for young individuals to step beyond their comfort zones and embark on global expeditions. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the contemporary era, the notion of staying rooted in a single location indefinitely has lost its appeal. People aspire to pursue education in one nation, pursue careers across several others, engage in humanitarian work in distant corners of the world, and ultimately retire in a foreign land.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hence, it is unsurprising that Nepali youngsters, like their global counterparts, venture beyond their homeland in search of educational goals, personal growth, lucrative opportunities, skill acquisition and international exposure. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Conclusion:&nbsp;</strong>The trend of students seeking higher education abroad is a multifaceted issue with far-reaching implications. The stories of Hangma Limbu, Milan Sharma, and Rojan highlight the undeniable allure of international education, job opportunities, and the pursuit of personal growth that push individuals away from their home country. However, this growing exodus raises crucial concerns that call for serious attention. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal&#39;s education system is marred by systemic deficiencies, from outdated curricula to unreliable examinations, and a lack of practical training facilities. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The pervasive politicization of academic institutions further undermines the quality of education, transforming campuses into arenas of political maneuvering rather than centers of intellectual growth.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gap between theoretical knowledge and practical skills has left many graduates unprepared for real-world challenges, contributing to unemployment and underemployment. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the intrinsic curiosity of the human spirit remains a driving force. The urge to explore, learn, and embrace new experiences is a universal trait, propelling Nepali youngsters to set their feet in the foreign lands to broad their horizons. </span></span></p>

<p>&nbsp;</p>
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			'id' => '18672',
			'article_category_id' => '1',
			'title' => 'NEPSE Grants Membership to Three New Broker Companies',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) has granted membership to all new broker companies that applied for it. In three phases, NEPSE has granted membership to a total of 17 broker companies.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Nepal Stock Exchange (NEPSE) has granted membership to all new broker companies that applied for it. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In three phases, NEPSE has granted membership to a total of 17 broker companies.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first and second phases, NEPSE granted membership to seven broker companies each on July 7 and July 28.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the third phase, on August 4, three broker companies - Mega Stock Market Limited, Machhapuchhre Securities Limited, and Nabil Securities Limited - were given membership.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Giriraj Dahal, Assistant Manager at NEPSE, Mega Stock Market, Machhapuchhre Securities, and Nabil Securities have been assigned broker numbers 75, 76, and 77 respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nabil Securities, with a capital of Rs 1.5 billion, will function as a stock dealer.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mega Stock Market, with a capital of Rs 600 million, will function as a second-tier broker, providing services like investment consulting, investment management, margin trading, and share trading. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Machhapuchhre Securities, with a capital of Rs 230 million, will operate as a broker company with limited activities.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As of now, 29 new companies have secured broker licenses from the Securities Board of Nepal (SEBON). During the three phases, SEBON granted licenses to seven, 11, and 11 new companies respectively.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Companies that have obtained broker licenses from SEBON are required to also gain membership from NEPSE as per the existing regulations of the board. Currently, 17 companies have received NEPSE membership.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">KBL Securities Limited licensed by SEBON, has not applied for NEPSE membership as it is in the process of merging with an old broker company.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SEBON has classified brokers into three categories, based on a minimum paid-up capital of Rs 200 million, Rs 600 million, and Rs 1.50 billion for broker licenses.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In accordance with the same framework, the board has granted licenses to one stock trader, one full-service stock broker, and 27 limited-service stock brokers.</span></span></p>
',
			'published' => true,
			'created' => '2023-08-07',
			'modified' => '2023-08-08',
			'keywords' => '',
			'description' => '',
			'sortorder' => '18401',
			'image' => '20230807052917_collage (2).jpg',
			'article_date' => '2023-08-07 17:27:14',
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	(int) 7 => array(
		'Article' => array(
			'id' => '18671',
			'article_category_id' => '1',
			'title' => 'Public Procurement Monitoring Office to Operate 'Procurement Clinic'   ',
			'sub_title' => '',
			'summary' => 'August 7: The Public Procurement Monitoring Office (PPMO) is preparing to operate 'Procurement Clinic' with the objective of resolving the problems faced in connection with issues related to public procurement.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">August 7: The Public Procurement Monitoring Office (PPMO) is preparing to operate &#39;Procurement Clinic&#39; with the objective of resolving the problems faced in connection with issues related to public procurement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The clinic aims to help in capacity development of the human resources involved in the procurement unit.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Secretary at the PPMO Dr Damodar Regmi told the state-owned National News Agency, RSS, that the office will run &#39;procurement clinic interactive programme&#39; wherein the participants will express about the challenges that come up regarding public procurement issues and the experts will tell them about the ways of resolving the problems.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;Procurement clinic will be operated soon for the employees of the local level and the province level,&rdquo; said Regmi, adding, &nbsp;&ldquo;The procurement clinic is a successful international practice which can develop the capacity of the human resources involved in the procurement job.&quot; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The PPMO is also preparing to develop a general guideline on public procurement so as to simplify the issues related to the public procurement process which in itself is a technical issue and its laws are complex. The simple guideline will be prepared as promptly as possible for resolving problems related to public procurement faced by the provincial and local level offices as well the federal offices.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Secretary Regmi further added that intensive training on e-procurement would also be held for enhancing the public procurement capacity of the local and provincial governments. -- RSS</span></span></span></p>
',
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			'sortorder' => '18400',
			'image' => '20230807043651_PPMOOO.jpg',
			'article_date' => '2023-08-07 16:36:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '18670',
			'article_category_id' => '1',
			'title' => 'Construction Entrepreneurs Announce more Protest Programmes ',
			'sub_title' => '',
			'summary' => 'August 7: The Federation of Contractors' Associations of Nepal (FCAN) has announced more protest programmes saying that the government has not yet addressed their legitimate demands. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">August 7: The Federation of Contractors&#39; Associations of Nepal (FCAN) has announced more protest programmes saying that the government has not yet addressed their legitimate demands. The federation announced the second and third phases of protest programme at a press conference in Kathmandu on Sunday. As part of the second phase of the programme, the federation has announced the protest from Monday, August 7 to Friday, August 11.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The federation has announced a daily demonstration through the week with a whistle rally in addition to a procession, a corner meeting and a sit-in, from the Federation to the Parliament building with black bands in their hands. Similarly, as part of the third phase of protest programme, all non-essential construction works will be stopped indefinitely from Sunday, August 13, said FCAN President Ravi Singh.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Under the third phase of protest programme, the federation will organize a live public hearing among construction experts. In the press conference, the president of the federation Singh said that only if the construction industry functions the overall economy will function.&nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He said that the payment for the work completed by the builders cannot be stopped under any pretext.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Yakshadhwaj Karki, adviser and former president of the federation, said that there are many problems in the construction industry and that it is wrong for the consumer committee to get involved in construction works. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">General Secretary of the Federation Roshan Dahal said that the federation is agitating with demands such as payment of all construction works, amendment of the extension order issued by the Nepal government and re-issue of a lump-sum extension of the entire project. The Federation of Nepalese Chamber of Commerce and Industries, Nepal Heavy Equipment Federation and other organizations have expressed solidarity with the ongoing movement of the federation.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '18399',
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			'article_date' => '2023-08-07 15:48:29',
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	(int) 9 => array(
		'Article' => array(
			'id' => '18669',
			'article_category_id' => '1',
			'title' => 'Buddha Air’s Tickets now Available through IME Pay',
			'sub_title' => '',
			'summary' => 'August 7: Passengers can now purchase tickets of Buddha Air through the airline company’s website and app using IME Pay.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 7: Passengers can now purchase tickets of Buddha Air through the airline company&rsquo;s website and app using IME Pay. The service was launched on Sunday after IME Pay and Buddha Air signed an agreement to this effect.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As per the agreement, passengers will be able to pay easily by selecting IME Pay while purchasing tickets on Buddha Air&rsquo;s website and app. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Passengers will also get a free coupon of Chandragiri Cable Car on every payment.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Issuing a statement, IME Pay said that the company expects encouragement in creating a cashless society for the convenience of customers. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Praveen Regmi, Chief Executive Officer of IME Pay, said that the agreement was signed with the aim of making the air travel experience of the user more convenient.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '18668',
			'article_category_id' => '1',
			'title' => 'Profit of Commercial Banks Increased by 25 Percent during Last FY',
			'sub_title' => '',
			'summary' => 'August 7: The net profit of commercial banks increased by almost 25 percent in the last fiscal year (FY 2022/23) despite slowdown of economic activities due to the impacts of Covid-19 and Russia-Ukraine war.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 7: The net profit of commercial banks increased by almost 25 percent in the last fiscal year (FY 2022/23) despite slowdown of economic activities due to the impacts of Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">19</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> and Russia-Ukraine war.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The profits of banks improved in the review year due to the increase in income from interest and the control in growth rate of bad loans. According to the financial statements published by the commercial banks for the FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23, they earned a total net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">70</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">.17 billion in the review year. In the previous year (FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">21</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22), the profit was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">56.17</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion, which is an increase of </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">24.93</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent last year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Although the profit growth rate decreased in the first, second and third quarters of the last fiscal year, there was an improvement in the fourth quarter. Compared to the same period of the previous year, the profit increased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">5.94</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the first quarter of FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23, by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">11.10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the second quarter and by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">11.67</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the third quarter. Coming to the fourth quarter, the growth in profit was more than double compared to the third quarter.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Former banker Analraj Bhattarai said that although the business expansion of banks was not significant in the last fiscal year, the increase in spread rate and the increase in income from investments made by banks in treasury bills and bonds had a positive effect on the profit. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&quot;Last year, the spread rate was also high and the income from the government treasury was also good,&quot; he said, &quot;Because of which the profit of the banks has been seen somewhat positive.&quot;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">He says that the merger of banks had a positive effect on some banks. However, compared to the capital of the banks, this year&#39;s profit should be considered normal, Bhattarai said.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">In the fourth quarter of the last fiscal year, banks also succeeded in controlling bad loans. In the previous year, bad loans of banks were </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.10</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent. However, bad loans of banks increased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.83</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the first quarter of FY </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">20</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">22</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">/</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">23. Bad loans further increased to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.35</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent in the second quarter while the average bad loans reached </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">3.03</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent by the third quarter. In the fourth quarter, banks succeeded in reducing bad loans to </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.7</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Control of bad loans also had a positive effect on the profit of banks. Former banker Bhattarai says that it can be compared to the financial discipline of banks and businessmen. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Last year, Nabil Bank earned the highest net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.52</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion after acquiring Nepal Bangladesh Bank which is an increase of 76.86 percent compared to the previous year. Similarly, Global IME Bank, which merged with Bank of Kathmandu, earned a net profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">7.25</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> billion. The profit of Global IME increased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">46.26</span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> percent.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">In the last fiscal year, the profit of Kumari Bank and Prime Commercial Bank was less than the previous year. The profit Kumari, which acquired NCC Bank, decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">24.14 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent compared to the previous year and was limited to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">1.95 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion. In the previous year, the profit of the bank was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.57 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion rupees. Similarly, the profit of Prime Bank decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">18.81 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">percent to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">2.26 </span></span><span style="font-size:15.0pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">billion.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '18667',
			'article_category_id' => '1',
			'title' => 'Project Cost of MCC to Increase by Rs 900 Million',
			'sub_title' => 'Preparations Underway for Declaring EIF Phase of MCC from mid-August',
			'summary' => 'August 7: The Millennium Challenge Corporation (MCC) Compact that was signed between the Ministry of Finance and the US Government around six years ago has reached the entry into force (EIF) phase and the development itself marks a significant milestone in the implementation of the agreement. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">August 7: The Millennium Challenge Corporation (MCC) Compact that was signed between the Ministry of Finance and the US Government around six years ago has reached the entry into force (EIF) phase and the development itself marks a significant milestone in the implementation of the agreement.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to the Millennium Challenge Account (MCA)-Nepal Development Committee, preparations are on to announce the date for EIP regarding the MCC soon.&nbsp;&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over the course of six years since signing of the agreement, the Compact was endorsed by the Federal Parliament along with a 12-point descriptive note. During this period, Nepal has met almost all conditions, five out of six, required to be enabled by it before advancing the agreement to the implementation phase. Of the six prerequisites, land acquisition for the implementation of the pact has been awaited.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">However, over the course of time, Nepal is needed to own up additional economic responsibility for initiations and projects to be implemented under the agreement. Initially, it was agreed that USD 500 million shall be provided in grants to Nepal while the government shall bear USD 130, expecting the total cost of the MCC project to remain at USD 630 million.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&nbsp;But the &#39;supplemental agreement&#39; over the MCC that was signed in last May-June, demands the government to bear additional USD 67 million, seeking its total contribution of USD 197 million to the enforcement of the agreement. In the beginning, Nepal was supposed to take up the 20.63 per cent economic responsibility for the MCC project and now it has risen to 28.26 percent. The increased responsibility amount is equivalent to Rs 900 million.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The preparations for the announcement of EIF date&nbsp; sans meeting all the preconditions is another concern regarding the implementation of projects under the MCA-Nepal, the government agency formed to implement the projects co-funded by the US government under the MCC.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The acquisition of land for the implementation of MCC Nepal Compact projects, as well as the guarantee of the land use rights within forest areas is still awaited.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Compact mandates the project implementing body to complete the projects within five years of the declaration of EIF.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The prevailing time provides room to doubt over the completion of the projects within the stipulated time frame.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">This article primarily highlights the factors contributing to the increase in the cost of Compact implementation and sheds light on the reasons behind the decision to proceed with the Entry into Force (EIF) without fulfilling all the prerequisites.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Factors contributing to additional responsibility for Nepal</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Council of Ministers on May 23 decided to endorse the Finance Ministry&#39;s proposal to revise the agreement between Nepal and the MCC and increase the government&#39;s share in its implementation.&nbsp; On the basis of the same agreement, Nepal Electricity Authority (NEA) and the MCA-Nepal on May 30 signed the &#39;supplemental agreement&#39;.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The NEA and MCA-Nepal signed the agreement a few days ago. The MCA-Nepal issued a public statement citing that &quot;The government has decided to include additional endeavors included in the electricity transmission projects under the MCC Compact on the request of the Nepal Electricity Authority.&quot; &nbsp; The statement further mentioned that the additional budget of USD 67 million required to implement these additional endeavors will be managed from the major budget of the Compact. In the event of the full utilization of the allocated budget, any insufficient funds will be borne by the NEA.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The additional budget to be required for the implementation of the Compact is to be considered as the government&#39;s contribution to it and it will be adjusted in the relevant schedule of the Compact through the implementation letter.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Road and electricity projects are the areas of priorities for Nepal identified by the MCC Compact signed on September 14, 2017.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">As per the statement, the cost amount of USD 67 million which has been recently added will be spent for the construction of the section of the 400kV New Butwal-Gorakhpur Nepal-India Inter-country Transmission line towards the Nepal side and for increasing the capacity of three substations. This transmission line project is in the construction process at present.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Schedule-1 (B) (1) of the MCC Compact states about the transmission line to be constructed under MCA-Nepal. It is mentioned in the Compact that around 300 kilometers of double circuit 400 kV transmission line would be constructed within Nepal.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The Compact states that the transmission line would be constructed on five different routes &ndash; from Lapsiphedi of Kathmandu up to Ratamaate, from Ratamate to Hetauda, from Ratamate to Damauli, from Damauli to Butwal and from Butwal to the India border. This means that the plan of constructing the transmission line from Butwal to the India border for which the added cost has been managed is included in the existing cost of USD 630 million.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">RSS had approached the MCA-Nepal for its comment regarding allocation of additional budget for the construction of the transmission line on this route the estimated cost of which has been already included in the Compact. In response, MCA-Nepal stated that the amount added in the MCC Nepal Compact programme would be merged with the Electricity Transmission Project &nbsp; budget and it would be used for increasing the capacity of three substations by installing extra &#39;bays&#39; as per the requirement and request of Nepal Electricity Authority (NEA).&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">To RSS&#39; question whether the amount merged in this way can be termed as an increment in the project&#39;s cost, MCA-Nepal&#39;s information officer Rajib Dahal said the cost automatically goes up when extra work has to be carried out than what was previously determined.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&quot;Additional work of expanding the capacity of the under-construction three substations by installing extra bays is being carried out from the amount added on behalf of the Government of Nepal to the MCC Nepal Compact, as per the NEA&#39;s need and request. The increase in cost is obvious after the addition of extra work on the predetermined work. Therefore, we can call it the need for additional investment due to the expansion of the limit of the project&#39;s work,&quot; the MCA-Nepal has stated.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Similarly, MCA-Nepal has said although some changes have been made in the works of the Road Maintenance Project, it will not have any impact on the overall budget related to the roads.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">NEA executive director Kulman Ghising said India had already started the process for tender for the construction of the transmission line on its side.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&ldquo;But in our case, the dispute whether the MCC Compact would be endorsed by the parliament or not was not finalized. Therefore, we detached this from the MCC Compact,&quot; Ghising said, adding that the tendering process of programmes under the MCC Compact also moves ahead after the parliament&#39;s endorsement. &quot;It was again included in the MCC after coming to the conclusion that only small contractors will come for the bidding when NEA does the contract for the project whereas big contractors would come if the MCA-Nepal calls for the contract. The cost increased after the NEA added to the scope of work that was already in the compact before.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Preparations for EIF without meeting prerequisites&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The agreement which was signed on 14 September, 2017 between the Finance Ministry of Nepal and the MCC, was endorsed by the parliament on 27 February, 2022.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The countdown for the five-year project will as per the agreement begin from the day of EIF.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to the preliminary agreement, EIF would take place from 30 June 2020. However, many factors like a dispute in getting the compact endorsed from the parliament and other difficulties are blamed for the delay.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Land acquisition as a prerequisite for EIF has yet to take place</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">According to Section 8.1 of Article 8 of the MCC Compact, the Government will ensure the full and expeditious cooperation of all relevant government entities to ensure that all land acquisition, site access, and forest clearance required to implement the Compact is provided in a timely manner, and consistent with all MCC policies.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Asked about the implementation of the compact, the MCC Nepal said the date for its implementation would be announced within the Nepali month of Bhadra. &quot;Preparations are underway to announce the date for the implementation of the MCC Nepal Compact 2080,&quot; said the MCC Nepal.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">It requires a total of 1,471 hectares of land for the electricity transmission project, and around 20 hectares for the construction of a substation at Ratmate in Nuwakot. It requires 104 hectares of land for constructing around 856 electrical towers. There is still a dispute in the land required for constructing a substation, and the distribution of compensation for the land acquired for the transmission line has yet to begin, said the MCC Nepal.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">&quot;Except for a family-disputed plot, the distribution of compensation for the land acquired for a substation at Ratamate has been completed. A preliminary legal process has been initiated to acquire the land required to build the electrical towers.&quot;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The legal process to determine compensation amounts for the land acquired for the project has started under the leadership of Chief District Officer of the respective district of the total nine affected districts, it has been said. The affected areas have 122 community and government forests.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over Rs 10.8 billion allocated for the current FY</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">For the project, the government has allocated over Rs 10.8 billion for the current FY, 2023/24. Out of the allocated budget, Rs 8.7 billion will go for the electricity transmission project, Rs 1.5 billion for road repair, Rs 2 million for monitoring and evaluation, and Rs 555 million for administrative work. -- RSS</span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '18396',
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			'article_date' => '2023-08-07 11:43:54',
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	(int) 12 => array(
		'Article' => array(
			'id' => '18666',
			'article_category_id' => '1',
			'title' => 'CIB Handed Responsibility to Investigate into Gold Smuggling',
			'sub_title' => '',
			'summary' => 'The Central Investigation Bureau (CIB) of Nepal Police has been handed over the responsibility to further investigate the smuggling of 100 kg gold.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Central Investigation Bureau (CIB) of Nepal Police has been handed over the responsibility to further investigate the smuggling of 100 kg gold.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;After 17 days of the seizure of the gold smuggled from foreign country, the Revenue Investigation Department (RID) handed over the responsibility to the CIB to dig deeper into the gold smuggling incident on Sunday. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Director General of RID Nabaraj Dhungana said that the CIB had been provided with the files of the investigations to dig further issues into the case of gold smuggling.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dhungana said that entire other activities of the investigations now would be carried out by the CIB. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier on Thursday, Prime Minister Pushpa Kamal Dahal &#39;Prachanda&#39; had directed the RID to give responsibility to the CIB for investigation.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the PM&#39;s directive, the files have been sent to the CIB by fulfilling necessary processes.&nbsp; </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Now, the CIB will also investigate the financial issues, organized and trans-national crimes. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Deputy Inspector General of Nepal Police Kuber Kadayat said that the CIB will begin the investigation after getting letter from the Department.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Currently, 17 individuals are in the custody of security force on their alleged involvement in the case. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">(RSS)</span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '18665',
			'article_category_id' => '1',
			'title' => 'Lalita Niwas Land Scam: SC Orders to Probe Decision Makers',
			'sub_title' => '',
			'summary' => 'The Supreme Court (SC) on Sunday ordered to investigate into the individuals directly responsible for decision-making related to Lalita Niwas land grab scam.  The directive was issued by a bench comprising Justices Anil Kumar Sinha and Dr. Kumar Chudal.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 7: The Supreme Court (SC) on Sunday ordered to investigate into the individuals directly responsible for decision-making related to Lalita Niwas land grab scam.&nbsp;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The directive was issued by a bench comprising Justices Anil Kumar Sinha and Dr. Kumar Chudal. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The implicated decisions were made during the tenures of Madhav Kumar Nepal and Dr. Baburam Bhattarai as Prime Ministers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The SC&#39;s order mandates an investigation into members of the former Council of Ministers responsible for decision-making, as well as those who certified these decisions for implementation.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, the SC has also ordered to investigate those taking the proposal to the higher level or authority.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
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			'id' => '18664',
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			'title' => 'Ncell Flood Alert SMS Contributing to Saving Lives of Nepali Citizens',
			'sub_title' => '',
			'summary' => 'August 6: Ncell, a private sector telecommunication giant of Nepal, has claimed that the company has been disseminating early warning SMS alerts to people living in flood-prone areas, contributing to saving lives and properties from monsoon-induced floods each year.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">August 6: Ncell, a private sector telecommunication giant of Nepal, has claimed that the company has been disseminating early warning SMS alerts to people living in flood-prone areas, contributing to saving lives and properties from monsoon-induced floods each year. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Issuing a statement, Ncell said that the company has sent over 4.4 million such SMS in the last two months, pre-informing people from flood risk areas.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The areas where SMS alerts were disseminated this year include downstream communities or basins of major rivers such as Narayani, Babai, Rapti, Kankai, Bagmati, Koshi, and Karnali, among others. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Ncell under its Corporate Social Responsibility (CSR) has been pre-notifying risks of flood via SMS since 2016 in collaboration with the Department of Hydrology and Meteorology (DHM), added the statement.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Under this initiative, Ncell has been collaborating with the DHM for Early Warning System (EWS) to broadcast SMS alerts to the public mainly during the monsoon season. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Early warning SMS alerts ensure that people get pre-informed about the risk and move to safe locations with their belongings, while organisations involved in disaster response and preparedness get time to act on time, the statement further said. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">When the water level returns to normal in the rivers, people also receive an SMS alert that there is no looming risk, and they can now return to their places. &nbsp;</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&ldquo;At Ncell, we are committed to serving people and the community of Nepal. Leveraging on our technical expertise and reach, we are pleased to support our community of Nepal with timely dissemination of flood alerts contributing to reducing potential loss of lives and properties every year during monsoon. This collaborative initiative under our CSR is a testament to how public-private partnership can deliver results for the betterment of our society,&rdquo; the statement quoted Ncell&rsquo;s Chief Executive Officer and Managing Director Jabbor Kayumov as saying.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">DHM through its telemetry stations keeps close track of the hydrological and metrological situations and triggers the messaging based on the level of water in the rivers. Ncell upon DHM&rsquo;s request broadcasts location-based alert messages to people living along the downstream communities of rivers known for creating flood mayhem via short code number 1155, which is also a DHM&rsquo;s toll-free hotline dedicated to providing information updates on flood situations. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">According to the Flood Forecasting Division of DHM, with almost all households having access to GMS mobile service, flood SMS alert has been one of the most effective mediums in the flood EWS to minimize loss of lives and properties, and it is thankful to Ncell for collaboration in this noble cause, the statement reads.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">The statement says that apart from individuals within the identified hazard zones, these alerts are also sent to vital organisations involved in disaster risk reduction, including the National Emergency Operating Centre for necessary activities on disaster response and preparedness.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As part of continued collaboration, last year Ncell disseminated over 7.8 million such flood alerts mainly during monsoon to the public from basins and communities that are identified as flood-prone areas. After signing an agreement for this initiative in 2016, Ncell and DHM strengthened the association further in 2018 for improving disaster preparedness.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">As a responsible corporate entity, Ncell said it remains committed to serving people and the community and is also exploring possibilities to implement EWS for other hydro-meteorology related disasters too. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">&ldquo;As DHM installs new telemetry devices and expands hydro-meteorological stations, Ncell will continue to provide similar connectivity support to those stations, so that more people could benefit from the EWS initiative.&rdquo;</span></span></span></p>
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			'created' => '2023-08-06',
			'modified' => '2023-08-06',
			'keywords' => '',
			'description' => '',
			'sortorder' => '18393',
			'image' => '20230806062642_20221007090312_DevrajSubedi_Sindhupalchok_RSS_19_khatam.jpg',
			'article_date' => '2023-08-06 18:25:54',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
simplexml_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