July 23: Nepal Rastra Bank has resumed the concessional loan programme after a gap of five months.…
July 23: Nepal Rastra Bank has resumed the concessional loan programme after a gap of five months.…
July 23: Ncell customers can now avail data and SMS services on a daily basis along with unlimited voice calls on any…
July 23: President of Nepal Chamber of Commerce (NCC), Rajendra Malla, has emphasized on the need to reduce the trade deficit through export promotion by making maximum use of the natural resources within the…
July 23: The country has seen 68 percent of paddy plantation as of July 21 this year, according to data of the Department of Agriculture…
The export of Yarsagumba from Nepal increased by 31 percent in the first 11 months of fiscal year 2022/2023. According to the data from the Department of Customs, Nepal exported 627 kilograms of Yarsagumba from mid-July) 2022 to mid-June 2023. This marks a 31 percent increase compared to the previous year when Nepal exported 476 kilograms during the same…
Experts have called for Nepal to carefully assess the constraints faced by exporters and increase the utilization of trade preferences granted by the…
July 23: Nepal Rastra Bank (NRB) is unveiling the Monetary Policy for the current fiscal year today.…
The Securities Board of Nepal(SEBON) has decided to grant broker licenses to 11 more…
July 21: The private sector has complained that they are unable to do business due to the policies and directives brought by the government one after the…
July 21: The Government of Nepal has signed a grant agreement of more than Rs 10.5 billion with the European Union (EU) for two different…
July 21: Lawmakers have suggested the Nepal Rastra Bank (NRB) to bring a monetary policy for the fiscal year 2023/24 that encourages increasing investment in the productive…
July 21: The Supreme Court has sought a written response from the government on its financial arrangement for the constituency development…
July 21: The Nepal Agricultural Research Council (NARC) and Sichuan Academy of Agricultural Sciences (SAAS) signed a Memorandum of Understanding (MoU) on Thursday on technology development and exchange of skills in the field of…
July 21: The Department of Customs has formed a probe committee to investigate into the incident related to the smuggling in of around one quintal gold from TIA without…
July 20: Even though the government has made it mandatory for labeling imported goods with clear details of the importer and distributor since July…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18535', 'article_category_id' => '1', 'title' => 'NRB Resumes Concessional Loan Scheme', 'sub_title' => '', 'summary' => 'July 23: Nepal Rastra Bank has resumed the concessional loan programme after a gap of five months. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 23: Nepal Rastra Bank has resumed the concessional loan programme after a gap of five months. The scheme, which was halted in mid-December, has been revived by the central bank since mid-May.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the data published by NRB, 644 loans worth Rs 1.87 billion have been approved from mid-May to mid-June alone under this scheme. Banks and financial institutions (BFIs) have invested Rs 258.34 billion to 147,510 borrowers till mid-June. Of that, 231 billion rupees are yet to be recovered.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Till mid-May, 146,866 borrowers had taken subsidized loans of Rs 256.47 billion rupees. Out of that amount, Rs 232.4 billion remains to be recovered.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">NRB had informally stopped loan approval since mid-December after the government stopped payment of interest on subsidized loans due to the reduction in revenue collection following the ban on the import of some goods and slowdown of economic activities. Executive Director of NRB Dr Prakash Kumar Shrestha said that the concessional loan programme was postponed for some time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The government has announced that the subsidized loans will be restructured based on the loan effectiveness study in the budget of the current fiscal year. The government had allocated Rs 13.59 billion for this scheme in the previous fiscal year. But for the current FY, it has been reduced by Rs 2 billion to Rs 11.59 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Although there has been an increase in subsidized loans, it is being criticized for not being effective and for being misused by those who have access to it. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">NRB is also studying the effectiveness of subsidized loans. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the procedures related to subsidized loans, banks have been providing such loans in 10 sectors, namely commercial agriculture and animal husbandry, educated youth self-employment, projects of youth returning from abroad, women's enterprise, Dalit business development, higher technical and vocational education, construction of earthquake-affected private housing, textile industry, technical and professional and youth self-employment programme.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Under this scheme, banks can set the interest rate by adding a maximum of 2 percentage points to their base rate. Out of that, there is a provision of 6 percent subsidy for women entrepreneurship loans and 5 percent for other loans.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18266', 'image' => '20230723022857_hqdefault.jpg', 'article_date' => '2023-07-23 13:03:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18534', 'article_category_id' => '1', 'title' => 'Ncell Launches Combo Pack', 'sub_title' => '', 'summary' => 'July 23: Ncell customers can now avail data and SMS services on a daily basis along with unlimited voice calls on any network.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 23: Ncell customers can now avail data and SMS services on a daily basis along with unlimited voice calls on any network. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a statement, Ncell said it has launched a combo pack from which customers can take advantage of both 'on net and off net' services. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is said that 'All Net Combo Pack' has been introduced to make calls to Nepali mobile service providers other than Ncell at affordable rates. In this pack, the customers can get unlimited All Net voice calls, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> GB data every day and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> SMS inclusive of taxes at Rs 998. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the customers who need voice service to call Ncell numbers on net can get unlimited service at Rs 798. Ncell said that the duration of both these combo packs is of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">days.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18265', 'image' => '20230723123735_1690080341.jpg', 'article_date' => '2023-07-23 12:37:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18533', 'article_category_id' => '1', 'title' => 'Trade Deficit has Increased Nine Folds: NCC President', 'sub_title' => '', 'summary' => 'July 23: President of Nepal Chamber of Commerce (NCC), Rajendra Malla, has emphasized on the need to reduce the trade deficit through export promotion by making maximum use of the natural resources within the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 23: President of Nepal Chamber of Commerce (NCC), Rajendra Malla, has emphasized on the need to reduce the trade deficit through export promotion by making maximum use of the natural resources within the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said so while concluding the training program given by the NCC to young entrepreneurs on international trade access and customs procedures. According to Malla, trade deficit has increased by nine times due to the imbalance between imports and exports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It is necessary to attract young entrepreneurs to promote exports by increasing domestic production," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He emphasized on the need to facilitate customs process and establish quarantine labs of international level at the main border crossings to increase exports. Malla said that the NCC will also help in packaging and branding of the products for export promotion. He added that since international trade is becoming digitalized recently, online delivery should be organized.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NCC President Malla made it clear that the chamber conducts various programs aimed at young entrepreneurs every year for business facilitation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NCC trained about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">young entrepreneurs in technical matters such as customs procedures in the market, harmonic code of export goods. The NCC organized a four-day training program with the technical support of Trade and Export Promotion Center.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18264', 'image' => '20230723115344_Trade.jpg', 'article_date' => '2023-07-23 11:53:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18532', 'article_category_id' => '1', 'title' => '68 Percent Paddy Plantation Completed: DoA ', 'sub_title' => '', 'summary' => 'July 23: The country has seen 68 percent of paddy plantation as of July 21 this year, according to data of the Department of Agriculture (DoA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 23: The country has seen 68 percent of paddy plantation as of July 21 this year, according to data of the Department of Agriculture (DoA). The figure is 20 percent less compared to 88 percent of paddy cultivation across the country during the same period of last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of sufficient rainfall proportionally in all areas of the country is to blame in part for this decline, said Prakash Kumar Sanjel, spokesperson for the Ministry of Agriculture and Livestock Development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delay in the arrival of monsoon this year in Madhes Province, Bagmati Province and Gandaki Province in particular has caused a decline in the paddy plantation, said the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, there is a partial impact of monsoon winds in the country. The low-pressure line of monsoon has remained towards the south of its average place, resulting in comparatively low rainfall, said meteorologist Sanjib Adhikari. "Now, there is a break in monsoon. There is a decline in rainfall. It is not that rainfall has not occurred at all. There has been low rainfall as compared to the past," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of substantial monsoon rains has caused difficulty in the paddy cultivation this year, said another meteorologist Rojan Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Monsoon rains seem weak than average. The pattern of monsoon is not the same every year. Monsoon seems weak this year. There is no possibility of rainfall for the next two days or three," he said. However, rainfall is taking place fragmentally across the country, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paddy plantation in Sudurpaschim Province is almost over. The department estimates that 90-95 per cent paddy would be planted till August 17 as paddy plantation take place till mid-August in the Tarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Climate Analysis Branch of the Department of Hydrology and Meteorology, only 37 per cent monsoon rain has taken place across the country so far in this monsoon season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Branch, Sudarshan Humagain, said a total of 538.2 millimeters of rainfall has occurred in average across the country from June 1 to July 21. A total of 1,462 millimeters of rainfall occurred in four months (June 13 to October 2) in the country last year. Monsoon had entered Nepal on June 14 this year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18263', 'image' => '20230723104937_riceeee.jpg', 'article_date' => '2023-07-23 10:48:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18531', 'article_category_id' => '1', 'title' => 'Yarsagumba Export from Nepal Surges by 31% in FY 2022/2023', 'sub_title' => '', 'summary' => 'The export of Yarsagumba from Nepal increased by 31 percent in the first 11 months of fiscal year 2022/2023. According to the data from the Department of Customs, Nepal exported 627 kilograms of Yarsagumba from mid-July) 2022 to mid-June 2023. This marks a 31 percent increase compared to the previous year when Nepal exported 476 kilograms during the same period.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 23: The export of Yarsagumba from Nepal increased by 31 percent in the first 11 months of fiscal year 2022/2023.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to the data from the Department of Customs, Nepal exported 627 kilograms of Yarsagumba from mid-July) 2022 to mid-June 2023. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This marks a 31 percent increase compared to the previous year when Nepal exported 476 kilograms during the same period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Along with the increase in the export of Yarsagumba volume, the transaction amount has also increased. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal exported yarsagumba worth over Rs 40 crores in the first eleven months of fiscal year 2022/2023 against total export of worth Rs 29 crores during the same period the year before. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Yarsagumba was exported to 12 countries, with Hong Kong and Cambodia being the major importers. During the review period, Nepal exported Yarsagumba to Cambodia, China, France, Germany, Hong Kong, Italy, Korea, Malaysia, Singapore, the United Kingdom, the United States, and Vietnam, according to the data released by the Department of Customs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the review period, the highest quantity of Yarsagumba export from Nepal was to Hong Kong. In that period, Nepal exported 273 kilograms of Yarsagumba to Hong Kong, worth Rs 18 crores 87 lakhs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Cambodia was the second-largest importer, purchasing 184 kilograms of Yarsagumba worth Rs 12 crores 40 lakhs. The share of exports to Hong Kong and Cambodia combined accounted for more than three-quarters of the total Yarsagumba export from Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vietnam occupied the third position in the list of major importers of Yarsagumba from Nepal. During the review period, Vietnam imported Yarsagumba worth Rs 4 crores 53 lakhs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Nepal exported Yarsagumba worth Rs 1 crore 31 lakhs to Singapore, Rs 1 crore 14 lakhs to the United States, Rs 97 lakhs to China, Rs 80 lakhs to Malaysia, Rs 20 lakhs 63 thousand to the United Kingdom, Rs 10 lakhs to France, Rs 9 lakhs to Italy, Rs 2 lakhs to Germany, and Rs 62 thousand to South Korea.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18262', 'image' => '20230723064415_collage (1).jpg', 'article_date' => '2023-07-23 06:42:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18530', 'article_category_id' => '1', 'title' => 'US Trade Preferences Should Cover More Products and Build Capacity for Nepal's Export Growth: Expert', 'sub_title' => '', 'summary' => 'Experts have called for Nepal to carefully assess the constraints faced by exporters and increase the utilization of trade preferences granted by the US.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 23: Experts have called for Nepal to carefully assess the constraints faced by exporters and increase the utilization of trade preferences granted by the US. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite receiving duty-free access to 77 products, Nepal's export performance in these select products has been disappointing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To address this issue and improve export performance through such facilities, a roundtable discussion was organized by the South Asia Watch on Trade, Economics, and Environment (SAWTEE) in association with The Asia Foundation on July 20. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the discussion, a SAWTEE study on Nepal-US trade was presented, revealing that Nepal's merchandise exports to the US were lower in 2021, standing at US$108.3 million, compared to its peak in the late 1990s. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The US granted duty-free access to these additional products under the Nepal Trade Preference Programme (NTPP) to support Nepal's recovery from the 2015 earthquakes, and this program will continue until December 31, 2025.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the study found that while total goods exports to the US have been increasing since 2012, exports of NTPP products have been declining.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In 2021, NTPP products accounted for only US$8.47 million, constituting 7.8 percent of total exports to the US, compared to 14 percent in 2012.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The utilization of NTPP remains low, at less than 50 percent, compared to another US duty-free scheme, the Generalized System of Preferences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Paras Kharel, Executive Director of SAWTEE, emphasized the importance of tackling productive capacity and supply-side constraints. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He highlighted that even if the available preferences were fully utilized, it would not lead to a significant increase in exports without resolving production and supply-related challenges.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Madhu Kumar Marasini, Secretary of the Ministry of Industry, Commerce, and Supplies, suggested that Nepal explore new products with comparative advantages for exporting to the US.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> He proposed including more products of export interest in the US's trade preferences for Nepal and emphasized the potential of services trade, particularly in IT exports.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Purushottam Ojha, Former Secretary of the Ministry of Industry, Commerce, and Supplies, suggested using Nepal's Commerce Policy and Nepal Trade Integration Strategy, which have identified priority products, as the basis for negotiating an extension of the US trade preferences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shankar Prasad Pandey, President of the Federation of Export Entrepreneurs Nepal (FEEN), emphasized the importance of identifying precise items of export interest for Nepal when seeking an extension of the US trade preference program. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Pandey expressed concern over the underutilization of the provision for technical assistance and capacity building under the Nepal-US Trade and Investment Framework Agreement (TIFA). To maximize benefits, he stressed the need for Nepal to establish clear objectives regarding the type of technical assistance required from the US.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Vidushi Rana, Executive Director of Goldstar Shoes, highlighted the significant potential and demand for Nepali footwear in the US. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the prohibitive high tariff faced by Nepali footwear in the US market poses challenges. Rana urged the US government to include footwear in the list of preference-granted products, considering the industry's potential to contribute to inclusive growth and job creation in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Ajit Bikram Shah, Founding member and Chairperson of The American Chamber of Commerce in Nepal (AMCHAM), stressed the need for Nepal to strengthen its negotiation skills to unlock its export potential in the US market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The participants in the roundtable discussion called for greater support in promoting Nepali products in the US through trade fairs and expanding the product coverage of the Nepal Trade Preference Programme (NTPP) if it is extended. They emphasized the crucial role of the capacity building and technical assistance component of the NTPP and the Nepal-US TIFA in enhancing the productive capacity of Nepali exporters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event witnessed the participation of approximately four dozen attendees, including trade experts, policymakers, exporters, freight forwarders, and representatives from the US Embassy in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Participants in the discussion stressed the need for support in promoting Nepali products in the US through trade fairs and expanding the product coverage of the NTPP if it is extended. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They emphasized the utilization of capacity building and technical assistance components of the NTPP and the Nepal-US Trade and Investment Framework Agreement (TIFA) to enhance the productive capacity of Nepali exporters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Around four dozen participants, including trade experts, policymakers, exporters, freight forwarders, and representatives from the US Embassy in Nepal, attended the event.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18261', 'image' => '20230723060733_collage.jpg', 'article_date' => '2023-07-23 06:02:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18537', 'article_category_id' => '1', 'title' => 'Central Bank to Unveil Monetary Policy Today ', 'sub_title' => '', 'summary' => 'July 23: Nepal Rastra Bank (NRB) is unveiling the Monetary Policy for the current fiscal year today. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 23: Nepal Rastra Bank (NRB) is unveiling the Monetary Policy for the current fiscal year today. The central bank is organizing a news conference at 3 pm to unveil the policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Board of Governors of NRB this morning endorsed the monetary policy. The monetary policy is the policy formulated by the country's central bank to support economic expansion by maintaining macroeconomic stability. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18260', 'image' => '20230723022952_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-23 14:29:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18529', 'article_category_id' => '1', 'title' => 'SEBON Grants Broker Licenses to 11 More Companies', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal(SEBON) has decided to grant broker licenses to 11 more companies.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 21: The Securities Board of Nepal(SEBON) has decided to grant broker licenses to 11 more companies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The meeting of the Board of Directors held on July 20 took the decision to grant broker licenses to additional 11 companies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the spokesperson of the Board, Mukti Shrestha, Milky Way Share Broker Company, Capital Hub Pvt. Ltd., Ashabhairav Securities, and Paahi Investment Pvt. Ltd have been granted broker licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Other companies granted broker licenses include S.P.S.A. Securities, N.M.B. Securities, Sanima Securities, Stocksarts Securities, Indira Securities, Blue Chip Securities, and Garima Securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the SEBON had issued broker licenses to 18 companies out of 46 companies which were provided with the letters of intent for the licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among them, seven broker companies have already started their operations in the stock market, while the remaining ten companies are still in the process of obtaining membership of Nepal Stock Exchange to begin the trading of the equities on the NEPSE. </span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18259', 'image' => '20230721051200_collage (17).jpg', 'article_date' => '2023-07-21 17:10:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18528', 'article_category_id' => '1', 'title' => 'Private Sector Complains of Policy Intervention', 'sub_title' => '', 'summary' => 'July 21: The private sector has complained that they are unable to do business due to the policies and directives brought by the government one after the other.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 21: The private sector has complained that they are unable to do business due to the policies and directives brought by the government one after the other. The presidents of Birgunj Chamber of Commerce and Industry, Morang Chamber of Commerce and Industry, Siddhartha Chamber of Commerce and Industry and Nepalgunj Chamber of Commerce and Industry issued a joint statement on Thursday and warned that if the situation continues, there will be no option than to go on a strike.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Anil Agarwal of Birgunj Chamber of Commerce and Industry, Naveen Rijal of Morang Chamber of Commerce and Industry, Thakur Kumar Shrestha of Siddhartha Chamber of Commerce and Industry and Abdul Waheed Mansuri of Nepalgunj Chamber of Commerce and Industry stated that the government agencies have caused challenges in transportation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They said that economic activities have been declining due to unexpected policy intervention. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The provision requiring details of of importer and distributor on the labels of imported goods has become mandatory now but the notification issued by the Department of Customs has created more confusion, reads the joint statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">This arrangement has been implemented since July 17, the first day of the new fiscal year. Agrawal, President of Birgunj Chamber of Commerce and Industry, said that the Director General of the Department of Customs was asked to solve the problem before it was implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The private has sector termed this provision as vague and unreasonable and said that it has badly affected imports and domestic trade. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“The information issued by the department is not clear, and the relevant authorities are also not clear about the labelling. Therefore, this labelling should be postponed until clear provisions and policy arrangements and guidelines regarding labelling are issued," the joint statement further added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They also claim that for the past few months, the customs administrators have been harassing the importers in the name of revenue collection. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The organizations have said that importers are also in trouble due to the practice of seizing the cargo vehicles that have passed the customs clearance and sending them to the Revenue Investigation Office in the name of investigation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They demanded an end to the practice of sending the goods to the Revenue Investigation Office with the intention of causing trouble to the cargo vehicles that have passed the customs inspection after completing the necessary procedures.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18258', 'image' => '20230721025659_Birgunjjjjjjjjjj.jpg', 'article_date' => '2023-07-21 14:55:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18527', 'article_category_id' => '1', 'title' => 'Nepal, EU Sign Grant Agreement of More than Rs 10.5 Billion ', 'sub_title' => '', 'summary' => 'July 21: The Government of Nepal has signed a grant agreement of more than Rs 10.5 billion with the European Union (EU) for two different programmes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Government of Nepal has signed a grant agreement of more than Rs 10.5 billion with the European Union (EU) for two different programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal and the EU signed the agreements at a programme organised at the Finance Ministry in Singha Durbar on Friday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Two separate Financing Agreements includes a grant agreement of 50 million pound sterling (equivalent to Rs 7.38 billion) for 'Quality Education for All' to support the School Education Sector Plan (SESP) and a grant agreement of 22 million pound sterling (equivalent to Rs 3.25 billion) for the 'Local Adaptation to Climate Change' initiative. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'Quality Education for All' will support the implementation of the government's School Education Sector Plan in a sector-wide approach supported by eight development partners, including the EU. The overall objective of this support is to contribute to a well-educated and skilled society in Nepal which is able to play an active role in the social and economic development of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Secretary Arjun Prasad Pokharel said that the support for SESP in increasing equitable access to education and improving the quality is crucial for human capital development.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal is making sincere efforts to balance the development and climate action. I appreciate the support of EU to plan and develop measures for Disaster Risk Reduction and to focus on increased human and financial capacities in order to enable the selected local levels and communities manage their natural resources in regards to adaptation to climate change. I would like to thank the European Union for its continued support in the socio-economic development endeavors of Nepal," said Pokharel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, EU Commissioner for international Partnerships, Jutta Urpilainen, mentioned that the European Union was proud to continue its 20-year support to Nepal in education. “Supporting quality education is one of our core commitments in our cooperation. We are heartened by the government's commitment to support quality education and are happy to be a close partner," stated EU Ambassador to Nepal, Nona Deprez. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further said that the European Union and Finland, as team Europe, will continue to work with local and provincial governments in Sudurpaschim and Karnali so they are empowered to make the most of their natural resources sustainable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'Local Adaptation to Climate Change' is initiated with an overall objective to improve the sustainability and conservation of natural resources to notably increase their climate resilience in Sudurpaschim and Karnali provinces, reads a press release issued by the Finance Ministry.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18257', 'image' => '20230721025506_eu.jpg', 'article_date' => '2023-07-21 14:54:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18526', 'article_category_id' => '1', 'title' => 'Monetary Policy should Prioritize Investment in Productive Sector: MPs ', 'sub_title' => '', 'summary' => 'July 21: Lawmakers have suggested the Nepal Rastra Bank (NRB) to bring a monetary policy for the fiscal year 2023/24 that encourages increasing investment in the productive sector.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: Lawmakers have suggested the Nepal Rastra Bank (NRB) to bring a monetary policy for the fiscal year 2023/24 that encourages increasing investment in the productive sector. They also stressed on creating more jobs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Members of Parliament made such remarks at a meeting of the Finance Committee of the House of Representatives (HoR) on Thursday. The MPs argued that the monetary policy should focus on creating domestic production to make a robust national economy. Most of the committee members said that the new monetary policy should prioritize the agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Former Finance Minister Bishnu Prasad Poudel asked the NRB to ponder on applying best policies that create more jobs and ensure increased productivity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poudel was of the view that a moderate monetary policy was needed instead of a tough or a flexible policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The current situation is the result of the past. So it is necessary to review the policies of the past," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, lawmaker Dr Swornim Wagle said that there wasn’t any balance between the economic growth rate and loan investment. He added that the banks and financial institutions made their loan investment more on unproductive sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Wagle stated that loan in the productive sector should be increased by tightening loans on real estate sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Gyan Bahadur Shahi claimed that the BFIs were making unfair benefits by investing loans on high interest rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, lawmaker Bhagwati Chaudhary said that the small and medium-sized enterprises should get loan in an accessible manner and the micro-finance institutions should be regulated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Governor of NRB Maha Prasad Adhikari said that the new monetary policy would focus on achieving economic growth rate set by the government, inflation control and management of external sector in the economy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18256', 'image' => '20230721022413_KB-KTM-0U3A1929.JPG', 'article_date' => '2023-07-21 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18525', 'article_category_id' => '1', 'title' => 'SC Seeks Written Response from Government on Constituency Development Fund ', 'sub_title' => '', 'summary' => 'July 21: The Supreme Court has sought a written response from the government on its financial arrangement for the constituency development fund. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Supreme Court has sought a written response from the government on its financial arrangement for the constituency development fund. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Justice Hari Prasad Phuyal issued a show cause notice to the government after conducting a preliminary hearing on a writ petition on Thursday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, Office of the Prime Minister, and Finance Ministry, among others have been demanded written response on why Rs 50 million was allocated to the constituency development fund through the recent budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the budget speech (point no 445) announced on May 29, the government included the controversial provision of allocating Rs 50 million to a constituency. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A writ petition was filed against this arrangement, arguing that it was a wrong trend to distribute money to lawmakers at a time when the country was facing economic crisis. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18255', 'image' => '20230721013914_Supreme Court.jpg', 'article_date' => '2023-07-21 13:38:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18524', 'article_category_id' => '1', 'title' => 'Nepal-China sign MoU on Development and Exchange of Agricultural Technology, Skills ', 'sub_title' => '', 'summary' => 'July 21: The Nepal Agricultural Research Council (NARC) and Sichuan Academy of Agricultural Sciences (SAAS) signed a Memorandum of Understanding (MoU) on Thursday on technology development and exchange of skills in the field of agriculture. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Nepal Agricultural Research Council (NARC) and Sichuan Academy of Agricultural Sciences (SAAS) signed a Memorandum of Understanding (MoU) on Thursday on technology development and exchange of skills in the field of agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Director of NARC Dr Dhurba Raj Bhattarai and Vice-Chairman of SAAS Dr Leo Younghang signed the MoU on technology transfer and skills exchange. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the two institutions would cooperate on technology transfer and developed in the field of agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing the information about the MoU, NARC Executive Director Dr Bhattarai said that agreement has been made to collaborate on increasing quality productions as well as agriculture development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, SAAS Vice-Chairman has pledged to provide training to Nepali researchers and technicians on high-quality agricultural technology. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Such training would be given to Nepali researchers on maize and sweet yam production in the near future. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of SAAS Vice-Chairman is currently on three-day Nepal visit. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18254', 'image' => '20230721010028_Agri.jpg', 'article_date' => '2023-07-21 12:59:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18523', 'article_category_id' => '1', 'title' => 'Probe Committee to Investigate Gold Smuggling Incident at TIA ', 'sub_title' => '', 'summary' => 'July 21: The Department of Customs has formed a probe committee to investigate into the incident related to the smuggling in of around one quintal gold from TIA without checking. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Department of Customs has formed a probe committee to investigate into the incident related to the smuggling in of around one quintal gold from TIA without checking. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A six-member probe committee was formed under coordination of Man Bahadur Poudel, the director at the Investigation Section of the Department of Customs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Information Officer of the department Punya Bikram Khadka, the investigation committee has been directed to submit its report within five days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the department, Shova Kanta Poudel, formed the probe committee on Friday to look into the incident of how around one quintal gold was cleared from the customs undetected. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Information Officer Khadka said, "The probe committee has been formed as such situation can sometimes arise due to technical error even when the department’s staff carry out necessary checking." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Revenue Investigation had seized around 100 kilogrammes of gold from Sinamangal on Wednesday on a special tip-off. A total of six persons have been arrested in this connection so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the Department of Revenue Investigation, Nawaraj Dhungana, said the seized yellow metal has been sent to Nepal Rastra Bank through the Department of Customs for its safe-keeping. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18253', 'image' => '20230721113507_goldee.jpg', 'article_date' => '2023-07-21 11:34:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18522', 'article_category_id' => '1', 'title' => 'Mandatory Labeling Provision for Import Items Courts Controversy', 'sub_title' => 'Import of Medicines Halted due to the New Provision of Labeling', 'summary' => 'July 20: Even though the government has made it mandatory for labeling imported goods with clear details of the importer and distributor since July 17,', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 20: Even though the government has made it mandatory for labeling imported goods with clear details of the importer and distributor since July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">7, the importers complain that the authorities are indifferent towards solving the unreasonable difficulties caused by this new provision. Import of medicine has been stopped for three days due to conflicting legal arrangements of government agencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Prakash Khandelwal, senior vice president of Nepal Drug Practitioners Association, the importers have stopped the importing drugs after the Department of Customs instructed them to label only the label, but the Drug Administration Department said that no details can be mentioned on the packaging of the drugs without approval.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, the importers has not yet received the medicines that have arrived at the border. Senior Vice President Khandelwal also warned that if the problem is not resolved soon, there may be shortage of medicines. Even now, about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of medicine supplies depend on imports, say businessmen.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The customs clearance of drugs has not been possible since July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The customs officials cite one rule while the DDA says no content can be added to the packaging. In such a situation, there is no option but to stop the import,'' said Khandelwal, who is also a medicine importer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Customs Administrator of Birganj Customs, Dilaram Panthi, admitted that the businessmen were confused due to the contradictions in the rules between the government agencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“There is no need to put a label when passing the customs inspection. The label should be kept at the time of distribution. There is no obstacle in clearing the customs check. The businessmen must have been talking about the difficulties caused by the rules of the drug administration department,” said Customs Administrator Panthi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government, through the Finance Bill </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, has made arrangement for labeling the imported goods before sending them to the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The labels should include the details of the importer and the distributor. The Department of Customs has said that if goods are found to be sold without labels, such goods will be confiscated. The department had sent information about this to the importers last month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The importers complain that the government implemented this system in a very short time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We had informed all agencies concerned about the problems that may arise in the import of medicines due to this system. Instead of a solution, they issued us a warning that they would confiscate the medicines. How can medicines be imported in such a situation?” questioned Khandelwal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government claims that the labeling system will be effective in controlling the import of low-quality goods and preventing illegal imports. However, Hari Gautam, senior vice president of Birgunj Chamber of Commerce and Industry, says that this arrangement could be just another pretext of collecting unauthorized money by extorting the businessmen.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18252', 'image' => '20230721105831_20190107110731_maxresdefault.jpg', 'article_date' => '2023-07-21 10:57:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18535', 'article_category_id' => '1', 'title' => 'NRB Resumes Concessional Loan Scheme', 'sub_title' => '', 'summary' => 'July 23: Nepal Rastra Bank has resumed the concessional loan programme after a gap of five months. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 23: Nepal Rastra Bank has resumed the concessional loan programme after a gap of five months. The scheme, which was halted in mid-December, has been revived by the central bank since mid-May.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the data published by NRB, 644 loans worth Rs 1.87 billion have been approved from mid-May to mid-June alone under this scheme. Banks and financial institutions (BFIs) have invested Rs 258.34 billion to 147,510 borrowers till mid-June. Of that, 231 billion rupees are yet to be recovered.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Till mid-May, 146,866 borrowers had taken subsidized loans of Rs 256.47 billion rupees. Out of that amount, Rs 232.4 billion remains to be recovered.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">NRB had informally stopped loan approval since mid-December after the government stopped payment of interest on subsidized loans due to the reduction in revenue collection following the ban on the import of some goods and slowdown of economic activities. Executive Director of NRB Dr Prakash Kumar Shrestha said that the concessional loan programme was postponed for some time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The government has announced that the subsidized loans will be restructured based on the loan effectiveness study in the budget of the current fiscal year. The government had allocated Rs 13.59 billion for this scheme in the previous fiscal year. But for the current FY, it has been reduced by Rs 2 billion to Rs 11.59 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Although there has been an increase in subsidized loans, it is being criticized for not being effective and for being misused by those who have access to it. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">NRB is also studying the effectiveness of subsidized loans. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the procedures related to subsidized loans, banks have been providing such loans in 10 sectors, namely commercial agriculture and animal husbandry, educated youth self-employment, projects of youth returning from abroad, women's enterprise, Dalit business development, higher technical and vocational education, construction of earthquake-affected private housing, textile industry, technical and professional and youth self-employment programme.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Under this scheme, banks can set the interest rate by adding a maximum of 2 percentage points to their base rate. Out of that, there is a provision of 6 percent subsidy for women entrepreneurship loans and 5 percent for other loans.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18266', 'image' => '20230723022857_hqdefault.jpg', 'article_date' => '2023-07-23 13:03:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18534', 'article_category_id' => '1', 'title' => 'Ncell Launches Combo Pack', 'sub_title' => '', 'summary' => 'July 23: Ncell customers can now avail data and SMS services on a daily basis along with unlimited voice calls on any network.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 23: Ncell customers can now avail data and SMS services on a daily basis along with unlimited voice calls on any network. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a statement, Ncell said it has launched a combo pack from which customers can take advantage of both 'on net and off net' services. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is said that 'All Net Combo Pack' has been introduced to make calls to Nepali mobile service providers other than Ncell at affordable rates. In this pack, the customers can get unlimited All Net voice calls, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> GB data every day and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> SMS inclusive of taxes at Rs 998. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the customers who need voice service to call Ncell numbers on net can get unlimited service at Rs 798. Ncell said that the duration of both these combo packs is of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">days.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18265', 'image' => '20230723123735_1690080341.jpg', 'article_date' => '2023-07-23 12:37:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18533', 'article_category_id' => '1', 'title' => 'Trade Deficit has Increased Nine Folds: NCC President', 'sub_title' => '', 'summary' => 'July 23: President of Nepal Chamber of Commerce (NCC), Rajendra Malla, has emphasized on the need to reduce the trade deficit through export promotion by making maximum use of the natural resources within the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 23: President of Nepal Chamber of Commerce (NCC), Rajendra Malla, has emphasized on the need to reduce the trade deficit through export promotion by making maximum use of the natural resources within the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said so while concluding the training program given by the NCC to young entrepreneurs on international trade access and customs procedures. According to Malla, trade deficit has increased by nine times due to the imbalance between imports and exports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It is necessary to attract young entrepreneurs to promote exports by increasing domestic production," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He emphasized on the need to facilitate customs process and establish quarantine labs of international level at the main border crossings to increase exports. Malla said that the NCC will also help in packaging and branding of the products for export promotion. He added that since international trade is becoming digitalized recently, online delivery should be organized.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NCC President Malla made it clear that the chamber conducts various programs aimed at young entrepreneurs every year for business facilitation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NCC trained about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">young entrepreneurs in technical matters such as customs procedures in the market, harmonic code of export goods. The NCC organized a four-day training program with the technical support of Trade and Export Promotion Center.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18264', 'image' => '20230723115344_Trade.jpg', 'article_date' => '2023-07-23 11:53:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18532', 'article_category_id' => '1', 'title' => '68 Percent Paddy Plantation Completed: DoA ', 'sub_title' => '', 'summary' => 'July 23: The country has seen 68 percent of paddy plantation as of July 21 this year, according to data of the Department of Agriculture (DoA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 23: The country has seen 68 percent of paddy plantation as of July 21 this year, according to data of the Department of Agriculture (DoA). The figure is 20 percent less compared to 88 percent of paddy cultivation across the country during the same period of last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of sufficient rainfall proportionally in all areas of the country is to blame in part for this decline, said Prakash Kumar Sanjel, spokesperson for the Ministry of Agriculture and Livestock Development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delay in the arrival of monsoon this year in Madhes Province, Bagmati Province and Gandaki Province in particular has caused a decline in the paddy plantation, said the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, there is a partial impact of monsoon winds in the country. The low-pressure line of monsoon has remained towards the south of its average place, resulting in comparatively low rainfall, said meteorologist Sanjib Adhikari. "Now, there is a break in monsoon. There is a decline in rainfall. It is not that rainfall has not occurred at all. There has been low rainfall as compared to the past," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of substantial monsoon rains has caused difficulty in the paddy cultivation this year, said another meteorologist Rojan Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Monsoon rains seem weak than average. The pattern of monsoon is not the same every year. Monsoon seems weak this year. There is no possibility of rainfall for the next two days or three," he said. However, rainfall is taking place fragmentally across the country, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paddy plantation in Sudurpaschim Province is almost over. The department estimates that 90-95 per cent paddy would be planted till August 17 as paddy plantation take place till mid-August in the Tarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Climate Analysis Branch of the Department of Hydrology and Meteorology, only 37 per cent monsoon rain has taken place across the country so far in this monsoon season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Branch, Sudarshan Humagain, said a total of 538.2 millimeters of rainfall has occurred in average across the country from June 1 to July 21. A total of 1,462 millimeters of rainfall occurred in four months (June 13 to October 2) in the country last year. Monsoon had entered Nepal on June 14 this year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18263', 'image' => '20230723104937_riceeee.jpg', 'article_date' => '2023-07-23 10:48:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18531', 'article_category_id' => '1', 'title' => 'Yarsagumba Export from Nepal Surges by 31% in FY 2022/2023', 'sub_title' => '', 'summary' => 'The export of Yarsagumba from Nepal increased by 31 percent in the first 11 months of fiscal year 2022/2023. According to the data from the Department of Customs, Nepal exported 627 kilograms of Yarsagumba from mid-July) 2022 to mid-June 2023. This marks a 31 percent increase compared to the previous year when Nepal exported 476 kilograms during the same period.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 23: The export of Yarsagumba from Nepal increased by 31 percent in the first 11 months of fiscal year 2022/2023.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to the data from the Department of Customs, Nepal exported 627 kilograms of Yarsagumba from mid-July) 2022 to mid-June 2023. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This marks a 31 percent increase compared to the previous year when Nepal exported 476 kilograms during the same period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Along with the increase in the export of Yarsagumba volume, the transaction amount has also increased. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal exported yarsagumba worth over Rs 40 crores in the first eleven months of fiscal year 2022/2023 against total export of worth Rs 29 crores during the same period the year before. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Yarsagumba was exported to 12 countries, with Hong Kong and Cambodia being the major importers. During the review period, Nepal exported Yarsagumba to Cambodia, China, France, Germany, Hong Kong, Italy, Korea, Malaysia, Singapore, the United Kingdom, the United States, and Vietnam, according to the data released by the Department of Customs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the review period, the highest quantity of Yarsagumba export from Nepal was to Hong Kong. In that period, Nepal exported 273 kilograms of Yarsagumba to Hong Kong, worth Rs 18 crores 87 lakhs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Cambodia was the second-largest importer, purchasing 184 kilograms of Yarsagumba worth Rs 12 crores 40 lakhs. The share of exports to Hong Kong and Cambodia combined accounted for more than three-quarters of the total Yarsagumba export from Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vietnam occupied the third position in the list of major importers of Yarsagumba from Nepal. During the review period, Vietnam imported Yarsagumba worth Rs 4 crores 53 lakhs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Nepal exported Yarsagumba worth Rs 1 crore 31 lakhs to Singapore, Rs 1 crore 14 lakhs to the United States, Rs 97 lakhs to China, Rs 80 lakhs to Malaysia, Rs 20 lakhs 63 thousand to the United Kingdom, Rs 10 lakhs to France, Rs 9 lakhs to Italy, Rs 2 lakhs to Germany, and Rs 62 thousand to South Korea.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18262', 'image' => '20230723064415_collage (1).jpg', 'article_date' => '2023-07-23 06:42:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18530', 'article_category_id' => '1', 'title' => 'US Trade Preferences Should Cover More Products and Build Capacity for Nepal's Export Growth: Expert', 'sub_title' => '', 'summary' => 'Experts have called for Nepal to carefully assess the constraints faced by exporters and increase the utilization of trade preferences granted by the US.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 23: Experts have called for Nepal to carefully assess the constraints faced by exporters and increase the utilization of trade preferences granted by the US. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite receiving duty-free access to 77 products, Nepal's export performance in these select products has been disappointing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To address this issue and improve export performance through such facilities, a roundtable discussion was organized by the South Asia Watch on Trade, Economics, and Environment (SAWTEE) in association with The Asia Foundation on July 20. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the discussion, a SAWTEE study on Nepal-US trade was presented, revealing that Nepal's merchandise exports to the US were lower in 2021, standing at US$108.3 million, compared to its peak in the late 1990s. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The US granted duty-free access to these additional products under the Nepal Trade Preference Programme (NTPP) to support Nepal's recovery from the 2015 earthquakes, and this program will continue until December 31, 2025.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the study found that while total goods exports to the US have been increasing since 2012, exports of NTPP products have been declining.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In 2021, NTPP products accounted for only US$8.47 million, constituting 7.8 percent of total exports to the US, compared to 14 percent in 2012.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The utilization of NTPP remains low, at less than 50 percent, compared to another US duty-free scheme, the Generalized System of Preferences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Paras Kharel, Executive Director of SAWTEE, emphasized the importance of tackling productive capacity and supply-side constraints. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He highlighted that even if the available preferences were fully utilized, it would not lead to a significant increase in exports without resolving production and supply-related challenges.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Madhu Kumar Marasini, Secretary of the Ministry of Industry, Commerce, and Supplies, suggested that Nepal explore new products with comparative advantages for exporting to the US.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> He proposed including more products of export interest in the US's trade preferences for Nepal and emphasized the potential of services trade, particularly in IT exports.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Purushottam Ojha, Former Secretary of the Ministry of Industry, Commerce, and Supplies, suggested using Nepal's Commerce Policy and Nepal Trade Integration Strategy, which have identified priority products, as the basis for negotiating an extension of the US trade preferences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shankar Prasad Pandey, President of the Federation of Export Entrepreneurs Nepal (FEEN), emphasized the importance of identifying precise items of export interest for Nepal when seeking an extension of the US trade preference program. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Pandey expressed concern over the underutilization of the provision for technical assistance and capacity building under the Nepal-US Trade and Investment Framework Agreement (TIFA). To maximize benefits, he stressed the need for Nepal to establish clear objectives regarding the type of technical assistance required from the US.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Vidushi Rana, Executive Director of Goldstar Shoes, highlighted the significant potential and demand for Nepali footwear in the US. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the prohibitive high tariff faced by Nepali footwear in the US market poses challenges. Rana urged the US government to include footwear in the list of preference-granted products, considering the industry's potential to contribute to inclusive growth and job creation in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Ajit Bikram Shah, Founding member and Chairperson of The American Chamber of Commerce in Nepal (AMCHAM), stressed the need for Nepal to strengthen its negotiation skills to unlock its export potential in the US market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The participants in the roundtable discussion called for greater support in promoting Nepali products in the US through trade fairs and expanding the product coverage of the Nepal Trade Preference Programme (NTPP) if it is extended. They emphasized the crucial role of the capacity building and technical assistance component of the NTPP and the Nepal-US TIFA in enhancing the productive capacity of Nepali exporters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event witnessed the participation of approximately four dozen attendees, including trade experts, policymakers, exporters, freight forwarders, and representatives from the US Embassy in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Participants in the discussion stressed the need for support in promoting Nepali products in the US through trade fairs and expanding the product coverage of the NTPP if it is extended. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They emphasized the utilization of capacity building and technical assistance components of the NTPP and the Nepal-US Trade and Investment Framework Agreement (TIFA) to enhance the productive capacity of Nepali exporters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Around four dozen participants, including trade experts, policymakers, exporters, freight forwarders, and representatives from the US Embassy in Nepal, attended the event.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18261', 'image' => '20230723060733_collage.jpg', 'article_date' => '2023-07-23 06:02:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18537', 'article_category_id' => '1', 'title' => 'Central Bank to Unveil Monetary Policy Today ', 'sub_title' => '', 'summary' => 'July 23: Nepal Rastra Bank (NRB) is unveiling the Monetary Policy for the current fiscal year today. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 23: Nepal Rastra Bank (NRB) is unveiling the Monetary Policy for the current fiscal year today. The central bank is organizing a news conference at 3 pm to unveil the policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Board of Governors of NRB this morning endorsed the monetary policy. The monetary policy is the policy formulated by the country's central bank to support economic expansion by maintaining macroeconomic stability. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18260', 'image' => '20230723022952_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-23 14:29:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18529', 'article_category_id' => '1', 'title' => 'SEBON Grants Broker Licenses to 11 More Companies', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal(SEBON) has decided to grant broker licenses to 11 more companies.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 21: The Securities Board of Nepal(SEBON) has decided to grant broker licenses to 11 more companies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The meeting of the Board of Directors held on July 20 took the decision to grant broker licenses to additional 11 companies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the spokesperson of the Board, Mukti Shrestha, Milky Way Share Broker Company, Capital Hub Pvt. Ltd., Ashabhairav Securities, and Paahi Investment Pvt. Ltd have been granted broker licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Other companies granted broker licenses include S.P.S.A. Securities, N.M.B. Securities, Sanima Securities, Stocksarts Securities, Indira Securities, Blue Chip Securities, and Garima Securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the SEBON had issued broker licenses to 18 companies out of 46 companies which were provided with the letters of intent for the licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among them, seven broker companies have already started their operations in the stock market, while the remaining ten companies are still in the process of obtaining membership of Nepal Stock Exchange to begin the trading of the equities on the NEPSE. </span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18259', 'image' => '20230721051200_collage (17).jpg', 'article_date' => '2023-07-21 17:10:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18528', 'article_category_id' => '1', 'title' => 'Private Sector Complains of Policy Intervention', 'sub_title' => '', 'summary' => 'July 21: The private sector has complained that they are unable to do business due to the policies and directives brought by the government one after the other.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 21: The private sector has complained that they are unable to do business due to the policies and directives brought by the government one after the other. The presidents of Birgunj Chamber of Commerce and Industry, Morang Chamber of Commerce and Industry, Siddhartha Chamber of Commerce and Industry and Nepalgunj Chamber of Commerce and Industry issued a joint statement on Thursday and warned that if the situation continues, there will be no option than to go on a strike.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Anil Agarwal of Birgunj Chamber of Commerce and Industry, Naveen Rijal of Morang Chamber of Commerce and Industry, Thakur Kumar Shrestha of Siddhartha Chamber of Commerce and Industry and Abdul Waheed Mansuri of Nepalgunj Chamber of Commerce and Industry stated that the government agencies have caused challenges in transportation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They said that economic activities have been declining due to unexpected policy intervention. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The provision requiring details of of importer and distributor on the labels of imported goods has become mandatory now but the notification issued by the Department of Customs has created more confusion, reads the joint statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">This arrangement has been implemented since July 17, the first day of the new fiscal year. Agrawal, President of Birgunj Chamber of Commerce and Industry, said that the Director General of the Department of Customs was asked to solve the problem before it was implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The private has sector termed this provision as vague and unreasonable and said that it has badly affected imports and domestic trade. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“The information issued by the department is not clear, and the relevant authorities are also not clear about the labelling. Therefore, this labelling should be postponed until clear provisions and policy arrangements and guidelines regarding labelling are issued," the joint statement further added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They also claim that for the past few months, the customs administrators have been harassing the importers in the name of revenue collection. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The organizations have said that importers are also in trouble due to the practice of seizing the cargo vehicles that have passed the customs clearance and sending them to the Revenue Investigation Office in the name of investigation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They demanded an end to the practice of sending the goods to the Revenue Investigation Office with the intention of causing trouble to the cargo vehicles that have passed the customs inspection after completing the necessary procedures.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18258', 'image' => '20230721025659_Birgunjjjjjjjjjj.jpg', 'article_date' => '2023-07-21 14:55:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18527', 'article_category_id' => '1', 'title' => 'Nepal, EU Sign Grant Agreement of More than Rs 10.5 Billion ', 'sub_title' => '', 'summary' => 'July 21: The Government of Nepal has signed a grant agreement of more than Rs 10.5 billion with the European Union (EU) for two different programmes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Government of Nepal has signed a grant agreement of more than Rs 10.5 billion with the European Union (EU) for two different programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal and the EU signed the agreements at a programme organised at the Finance Ministry in Singha Durbar on Friday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Two separate Financing Agreements includes a grant agreement of 50 million pound sterling (equivalent to Rs 7.38 billion) for 'Quality Education for All' to support the School Education Sector Plan (SESP) and a grant agreement of 22 million pound sterling (equivalent to Rs 3.25 billion) for the 'Local Adaptation to Climate Change' initiative. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'Quality Education for All' will support the implementation of the government's School Education Sector Plan in a sector-wide approach supported by eight development partners, including the EU. The overall objective of this support is to contribute to a well-educated and skilled society in Nepal which is able to play an active role in the social and economic development of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Secretary Arjun Prasad Pokharel said that the support for SESP in increasing equitable access to education and improving the quality is crucial for human capital development.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal is making sincere efforts to balance the development and climate action. I appreciate the support of EU to plan and develop measures for Disaster Risk Reduction and to focus on increased human and financial capacities in order to enable the selected local levels and communities manage their natural resources in regards to adaptation to climate change. I would like to thank the European Union for its continued support in the socio-economic development endeavors of Nepal," said Pokharel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, EU Commissioner for international Partnerships, Jutta Urpilainen, mentioned that the European Union was proud to continue its 20-year support to Nepal in education. “Supporting quality education is one of our core commitments in our cooperation. We are heartened by the government's commitment to support quality education and are happy to be a close partner," stated EU Ambassador to Nepal, Nona Deprez. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further said that the European Union and Finland, as team Europe, will continue to work with local and provincial governments in Sudurpaschim and Karnali so they are empowered to make the most of their natural resources sustainable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'Local Adaptation to Climate Change' is initiated with an overall objective to improve the sustainability and conservation of natural resources to notably increase their climate resilience in Sudurpaschim and Karnali provinces, reads a press release issued by the Finance Ministry.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18257', 'image' => '20230721025506_eu.jpg', 'article_date' => '2023-07-21 14:54:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18526', 'article_category_id' => '1', 'title' => 'Monetary Policy should Prioritize Investment in Productive Sector: MPs ', 'sub_title' => '', 'summary' => 'July 21: Lawmakers have suggested the Nepal Rastra Bank (NRB) to bring a monetary policy for the fiscal year 2023/24 that encourages increasing investment in the productive sector.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: Lawmakers have suggested the Nepal Rastra Bank (NRB) to bring a monetary policy for the fiscal year 2023/24 that encourages increasing investment in the productive sector. They also stressed on creating more jobs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Members of Parliament made such remarks at a meeting of the Finance Committee of the House of Representatives (HoR) on Thursday. The MPs argued that the monetary policy should focus on creating domestic production to make a robust national economy. Most of the committee members said that the new monetary policy should prioritize the agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Former Finance Minister Bishnu Prasad Poudel asked the NRB to ponder on applying best policies that create more jobs and ensure increased productivity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poudel was of the view that a moderate monetary policy was needed instead of a tough or a flexible policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The current situation is the result of the past. So it is necessary to review the policies of the past," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, lawmaker Dr Swornim Wagle said that there wasn’t any balance between the economic growth rate and loan investment. He added that the banks and financial institutions made their loan investment more on unproductive sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Wagle stated that loan in the productive sector should be increased by tightening loans on real estate sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Gyan Bahadur Shahi claimed that the BFIs were making unfair benefits by investing loans on high interest rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, lawmaker Bhagwati Chaudhary said that the small and medium-sized enterprises should get loan in an accessible manner and the micro-finance institutions should be regulated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Governor of NRB Maha Prasad Adhikari said that the new monetary policy would focus on achieving economic growth rate set by the government, inflation control and management of external sector in the economy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18256', 'image' => '20230721022413_KB-KTM-0U3A1929.JPG', 'article_date' => '2023-07-21 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18525', 'article_category_id' => '1', 'title' => 'SC Seeks Written Response from Government on Constituency Development Fund ', 'sub_title' => '', 'summary' => 'July 21: The Supreme Court has sought a written response from the government on its financial arrangement for the constituency development fund. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Supreme Court has sought a written response from the government on its financial arrangement for the constituency development fund. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Justice Hari Prasad Phuyal issued a show cause notice to the government after conducting a preliminary hearing on a writ petition on Thursday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, Office of the Prime Minister, and Finance Ministry, among others have been demanded written response on why Rs 50 million was allocated to the constituency development fund through the recent budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the budget speech (point no 445) announced on May 29, the government included the controversial provision of allocating Rs 50 million to a constituency. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A writ petition was filed against this arrangement, arguing that it was a wrong trend to distribute money to lawmakers at a time when the country was facing economic crisis. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18255', 'image' => '20230721013914_Supreme Court.jpg', 'article_date' => '2023-07-21 13:38:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18524', 'article_category_id' => '1', 'title' => 'Nepal-China sign MoU on Development and Exchange of Agricultural Technology, Skills ', 'sub_title' => '', 'summary' => 'July 21: The Nepal Agricultural Research Council (NARC) and Sichuan Academy of Agricultural Sciences (SAAS) signed a Memorandum of Understanding (MoU) on Thursday on technology development and exchange of skills in the field of agriculture. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Nepal Agricultural Research Council (NARC) and Sichuan Academy of Agricultural Sciences (SAAS) signed a Memorandum of Understanding (MoU) on Thursday on technology development and exchange of skills in the field of agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Director of NARC Dr Dhurba Raj Bhattarai and Vice-Chairman of SAAS Dr Leo Younghang signed the MoU on technology transfer and skills exchange. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the two institutions would cooperate on technology transfer and developed in the field of agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing the information about the MoU, NARC Executive Director Dr Bhattarai said that agreement has been made to collaborate on increasing quality productions as well as agriculture development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, SAAS Vice-Chairman has pledged to provide training to Nepali researchers and technicians on high-quality agricultural technology. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Such training would be given to Nepali researchers on maize and sweet yam production in the near future. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of SAAS Vice-Chairman is currently on three-day Nepal visit. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18254', 'image' => '20230721010028_Agri.jpg', 'article_date' => '2023-07-21 12:59:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18523', 'article_category_id' => '1', 'title' => 'Probe Committee to Investigate Gold Smuggling Incident at TIA ', 'sub_title' => '', 'summary' => 'July 21: The Department of Customs has formed a probe committee to investigate into the incident related to the smuggling in of around one quintal gold from TIA without checking. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Department of Customs has formed a probe committee to investigate into the incident related to the smuggling in of around one quintal gold from TIA without checking. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A six-member probe committee was formed under coordination of Man Bahadur Poudel, the director at the Investigation Section of the Department of Customs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Information Officer of the department Punya Bikram Khadka, the investigation committee has been directed to submit its report within five days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the department, Shova Kanta Poudel, formed the probe committee on Friday to look into the incident of how around one quintal gold was cleared from the customs undetected. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Information Officer Khadka said, "The probe committee has been formed as such situation can sometimes arise due to technical error even when the department’s staff carry out necessary checking." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Revenue Investigation had seized around 100 kilogrammes of gold from Sinamangal on Wednesday on a special tip-off. A total of six persons have been arrested in this connection so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the Department of Revenue Investigation, Nawaraj Dhungana, said the seized yellow metal has been sent to Nepal Rastra Bank through the Department of Customs for its safe-keeping. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18253', 'image' => '20230721113507_goldee.jpg', 'article_date' => '2023-07-21 11:34:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18522', 'article_category_id' => '1', 'title' => 'Mandatory Labeling Provision for Import Items Courts Controversy', 'sub_title' => 'Import of Medicines Halted due to the New Provision of Labeling', 'summary' => 'July 20: Even though the government has made it mandatory for labeling imported goods with clear details of the importer and distributor since July 17,', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 20: Even though the government has made it mandatory for labeling imported goods with clear details of the importer and distributor since July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">7, the importers complain that the authorities are indifferent towards solving the unreasonable difficulties caused by this new provision. Import of medicine has been stopped for three days due to conflicting legal arrangements of government agencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Prakash Khandelwal, senior vice president of Nepal Drug Practitioners Association, the importers have stopped the importing drugs after the Department of Customs instructed them to label only the label, but the Drug Administration Department said that no details can be mentioned on the packaging of the drugs without approval.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, the importers has not yet received the medicines that have arrived at the border. Senior Vice President Khandelwal also warned that if the problem is not resolved soon, there may be shortage of medicines. Even now, about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of medicine supplies depend on imports, say businessmen.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The customs clearance of drugs has not been possible since July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The customs officials cite one rule while the DDA says no content can be added to the packaging. In such a situation, there is no option but to stop the import,'' said Khandelwal, who is also a medicine importer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Customs Administrator of Birganj Customs, Dilaram Panthi, admitted that the businessmen were confused due to the contradictions in the rules between the government agencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“There is no need to put a label when passing the customs inspection. The label should be kept at the time of distribution. There is no obstacle in clearing the customs check. The businessmen must have been talking about the difficulties caused by the rules of the drug administration department,” said Customs Administrator Panthi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government, through the Finance Bill </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, has made arrangement for labeling the imported goods before sending them to the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The labels should include the details of the importer and the distributor. The Department of Customs has said that if goods are found to be sold without labels, such goods will be confiscated. The department had sent information about this to the importers last month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The importers complain that the government implemented this system in a very short time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We had informed all agencies concerned about the problems that may arise in the import of medicines due to this system. Instead of a solution, they issued us a warning that they would confiscate the medicines. How can medicines be imported in such a situation?” questioned Khandelwal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government claims that the labeling system will be effective in controlling the import of low-quality goods and preventing illegal imports. However, Hari Gautam, senior vice president of Birgunj Chamber of Commerce and Industry, says that this arrangement could be just another pretext of collecting unauthorized money by extorting the businessmen.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18252', 'image' => '20230721105831_20190107110731_maxresdefault.jpg', 'article_date' => '2023-07-21 10:57:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18535', 'article_category_id' => '1', 'title' => 'NRB Resumes Concessional Loan Scheme', 'sub_title' => '', 'summary' => 'July 23: Nepal Rastra Bank has resumed the concessional loan programme after a gap of five months. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 23: Nepal Rastra Bank has resumed the concessional loan programme after a gap of five months. The scheme, which was halted in mid-December, has been revived by the central bank since mid-May.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the data published by NRB, 644 loans worth Rs 1.87 billion have been approved from mid-May to mid-June alone under this scheme. Banks and financial institutions (BFIs) have invested Rs 258.34 billion to 147,510 borrowers till mid-June. Of that, 231 billion rupees are yet to be recovered.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Till mid-May, 146,866 borrowers had taken subsidized loans of Rs 256.47 billion rupees. Out of that amount, Rs 232.4 billion remains to be recovered.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">NRB had informally stopped loan approval since mid-December after the government stopped payment of interest on subsidized loans due to the reduction in revenue collection following the ban on the import of some goods and slowdown of economic activities. Executive Director of NRB Dr Prakash Kumar Shrestha said that the concessional loan programme was postponed for some time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The government has announced that the subsidized loans will be restructured based on the loan effectiveness study in the budget of the current fiscal year. The government had allocated Rs 13.59 billion for this scheme in the previous fiscal year. But for the current FY, it has been reduced by Rs 2 billion to Rs 11.59 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Although there has been an increase in subsidized loans, it is being criticized for not being effective and for being misused by those who have access to it. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">NRB is also studying the effectiveness of subsidized loans. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the procedures related to subsidized loans, banks have been providing such loans in 10 sectors, namely commercial agriculture and animal husbandry, educated youth self-employment, projects of youth returning from abroad, women's enterprise, Dalit business development, higher technical and vocational education, construction of earthquake-affected private housing, textile industry, technical and professional and youth self-employment programme.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Under this scheme, banks can set the interest rate by adding a maximum of 2 percentage points to their base rate. Out of that, there is a provision of 6 percent subsidy for women entrepreneurship loans and 5 percent for other loans.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18266', 'image' => '20230723022857_hqdefault.jpg', 'article_date' => '2023-07-23 13:03:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18534', 'article_category_id' => '1', 'title' => 'Ncell Launches Combo Pack', 'sub_title' => '', 'summary' => 'July 23: Ncell customers can now avail data and SMS services on a daily basis along with unlimited voice calls on any network.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 23: Ncell customers can now avail data and SMS services on a daily basis along with unlimited voice calls on any network. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a statement, Ncell said it has launched a combo pack from which customers can take advantage of both 'on net and off net' services. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is said that 'All Net Combo Pack' has been introduced to make calls to Nepali mobile service providers other than Ncell at affordable rates. In this pack, the customers can get unlimited All Net voice calls, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> GB data every day and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> SMS inclusive of taxes at Rs 998. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the customers who need voice service to call Ncell numbers on net can get unlimited service at Rs 798. Ncell said that the duration of both these combo packs is of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">days.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18265', 'image' => '20230723123735_1690080341.jpg', 'article_date' => '2023-07-23 12:37:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18533', 'article_category_id' => '1', 'title' => 'Trade Deficit has Increased Nine Folds: NCC President', 'sub_title' => '', 'summary' => 'July 23: President of Nepal Chamber of Commerce (NCC), Rajendra Malla, has emphasized on the need to reduce the trade deficit through export promotion by making maximum use of the natural resources within the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 23: President of Nepal Chamber of Commerce (NCC), Rajendra Malla, has emphasized on the need to reduce the trade deficit through export promotion by making maximum use of the natural resources within the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said so while concluding the training program given by the NCC to young entrepreneurs on international trade access and customs procedures. According to Malla, trade deficit has increased by nine times due to the imbalance between imports and exports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It is necessary to attract young entrepreneurs to promote exports by increasing domestic production," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He emphasized on the need to facilitate customs process and establish quarantine labs of international level at the main border crossings to increase exports. Malla said that the NCC will also help in packaging and branding of the products for export promotion. He added that since international trade is becoming digitalized recently, online delivery should be organized.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NCC President Malla made it clear that the chamber conducts various programs aimed at young entrepreneurs every year for business facilitation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NCC trained about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">young entrepreneurs in technical matters such as customs procedures in the market, harmonic code of export goods. The NCC organized a four-day training program with the technical support of Trade and Export Promotion Center.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18264', 'image' => '20230723115344_Trade.jpg', 'article_date' => '2023-07-23 11:53:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18532', 'article_category_id' => '1', 'title' => '68 Percent Paddy Plantation Completed: DoA ', 'sub_title' => '', 'summary' => 'July 23: The country has seen 68 percent of paddy plantation as of July 21 this year, according to data of the Department of Agriculture (DoA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 23: The country has seen 68 percent of paddy plantation as of July 21 this year, according to data of the Department of Agriculture (DoA). The figure is 20 percent less compared to 88 percent of paddy cultivation across the country during the same period of last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of sufficient rainfall proportionally in all areas of the country is to blame in part for this decline, said Prakash Kumar Sanjel, spokesperson for the Ministry of Agriculture and Livestock Development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delay in the arrival of monsoon this year in Madhes Province, Bagmati Province and Gandaki Province in particular has caused a decline in the paddy plantation, said the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, there is a partial impact of monsoon winds in the country. The low-pressure line of monsoon has remained towards the south of its average place, resulting in comparatively low rainfall, said meteorologist Sanjib Adhikari. "Now, there is a break in monsoon. There is a decline in rainfall. It is not that rainfall has not occurred at all. There has been low rainfall as compared to the past," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of substantial monsoon rains has caused difficulty in the paddy cultivation this year, said another meteorologist Rojan Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Monsoon rains seem weak than average. The pattern of monsoon is not the same every year. Monsoon seems weak this year. There is no possibility of rainfall for the next two days or three," he said. However, rainfall is taking place fragmentally across the country, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paddy plantation in Sudurpaschim Province is almost over. The department estimates that 90-95 per cent paddy would be planted till August 17 as paddy plantation take place till mid-August in the Tarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Climate Analysis Branch of the Department of Hydrology and Meteorology, only 37 per cent monsoon rain has taken place across the country so far in this monsoon season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Branch, Sudarshan Humagain, said a total of 538.2 millimeters of rainfall has occurred in average across the country from June 1 to July 21. A total of 1,462 millimeters of rainfall occurred in four months (June 13 to October 2) in the country last year. Monsoon had entered Nepal on June 14 this year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18263', 'image' => '20230723104937_riceeee.jpg', 'article_date' => '2023-07-23 10:48:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18531', 'article_category_id' => '1', 'title' => 'Yarsagumba Export from Nepal Surges by 31% in FY 2022/2023', 'sub_title' => '', 'summary' => 'The export of Yarsagumba from Nepal increased by 31 percent in the first 11 months of fiscal year 2022/2023. According to the data from the Department of Customs, Nepal exported 627 kilograms of Yarsagumba from mid-July) 2022 to mid-June 2023. This marks a 31 percent increase compared to the previous year when Nepal exported 476 kilograms during the same period.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 23: The export of Yarsagumba from Nepal increased by 31 percent in the first 11 months of fiscal year 2022/2023.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to the data from the Department of Customs, Nepal exported 627 kilograms of Yarsagumba from mid-July) 2022 to mid-June 2023. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This marks a 31 percent increase compared to the previous year when Nepal exported 476 kilograms during the same period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Along with the increase in the export of Yarsagumba volume, the transaction amount has also increased. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal exported yarsagumba worth over Rs 40 crores in the first eleven months of fiscal year 2022/2023 against total export of worth Rs 29 crores during the same period the year before. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Yarsagumba was exported to 12 countries, with Hong Kong and Cambodia being the major importers. During the review period, Nepal exported Yarsagumba to Cambodia, China, France, Germany, Hong Kong, Italy, Korea, Malaysia, Singapore, the United Kingdom, the United States, and Vietnam, according to the data released by the Department of Customs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the review period, the highest quantity of Yarsagumba export from Nepal was to Hong Kong. In that period, Nepal exported 273 kilograms of Yarsagumba to Hong Kong, worth Rs 18 crores 87 lakhs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Cambodia was the second-largest importer, purchasing 184 kilograms of Yarsagumba worth Rs 12 crores 40 lakhs. The share of exports to Hong Kong and Cambodia combined accounted for more than three-quarters of the total Yarsagumba export from Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vietnam occupied the third position in the list of major importers of Yarsagumba from Nepal. During the review period, Vietnam imported Yarsagumba worth Rs 4 crores 53 lakhs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Nepal exported Yarsagumba worth Rs 1 crore 31 lakhs to Singapore, Rs 1 crore 14 lakhs to the United States, Rs 97 lakhs to China, Rs 80 lakhs to Malaysia, Rs 20 lakhs 63 thousand to the United Kingdom, Rs 10 lakhs to France, Rs 9 lakhs to Italy, Rs 2 lakhs to Germany, and Rs 62 thousand to South Korea.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18262', 'image' => '20230723064415_collage (1).jpg', 'article_date' => '2023-07-23 06:42:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18530', 'article_category_id' => '1', 'title' => 'US Trade Preferences Should Cover More Products and Build Capacity for Nepal's Export Growth: Expert', 'sub_title' => '', 'summary' => 'Experts have called for Nepal to carefully assess the constraints faced by exporters and increase the utilization of trade preferences granted by the US.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 23: Experts have called for Nepal to carefully assess the constraints faced by exporters and increase the utilization of trade preferences granted by the US. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite receiving duty-free access to 77 products, Nepal's export performance in these select products has been disappointing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To address this issue and improve export performance through such facilities, a roundtable discussion was organized by the South Asia Watch on Trade, Economics, and Environment (SAWTEE) in association with The Asia Foundation on July 20. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the discussion, a SAWTEE study on Nepal-US trade was presented, revealing that Nepal's merchandise exports to the US were lower in 2021, standing at US$108.3 million, compared to its peak in the late 1990s. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The US granted duty-free access to these additional products under the Nepal Trade Preference Programme (NTPP) to support Nepal's recovery from the 2015 earthquakes, and this program will continue until December 31, 2025.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the study found that while total goods exports to the US have been increasing since 2012, exports of NTPP products have been declining.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In 2021, NTPP products accounted for only US$8.47 million, constituting 7.8 percent of total exports to the US, compared to 14 percent in 2012.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The utilization of NTPP remains low, at less than 50 percent, compared to another US duty-free scheme, the Generalized System of Preferences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Paras Kharel, Executive Director of SAWTEE, emphasized the importance of tackling productive capacity and supply-side constraints. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He highlighted that even if the available preferences were fully utilized, it would not lead to a significant increase in exports without resolving production and supply-related challenges.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Madhu Kumar Marasini, Secretary of the Ministry of Industry, Commerce, and Supplies, suggested that Nepal explore new products with comparative advantages for exporting to the US.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> He proposed including more products of export interest in the US's trade preferences for Nepal and emphasized the potential of services trade, particularly in IT exports.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Purushottam Ojha, Former Secretary of the Ministry of Industry, Commerce, and Supplies, suggested using Nepal's Commerce Policy and Nepal Trade Integration Strategy, which have identified priority products, as the basis for negotiating an extension of the US trade preferences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shankar Prasad Pandey, President of the Federation of Export Entrepreneurs Nepal (FEEN), emphasized the importance of identifying precise items of export interest for Nepal when seeking an extension of the US trade preference program. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Pandey expressed concern over the underutilization of the provision for technical assistance and capacity building under the Nepal-US Trade and Investment Framework Agreement (TIFA). To maximize benefits, he stressed the need for Nepal to establish clear objectives regarding the type of technical assistance required from the US.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Vidushi Rana, Executive Director of Goldstar Shoes, highlighted the significant potential and demand for Nepali footwear in the US. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the prohibitive high tariff faced by Nepali footwear in the US market poses challenges. Rana urged the US government to include footwear in the list of preference-granted products, considering the industry's potential to contribute to inclusive growth and job creation in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Ajit Bikram Shah, Founding member and Chairperson of The American Chamber of Commerce in Nepal (AMCHAM), stressed the need for Nepal to strengthen its negotiation skills to unlock its export potential in the US market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The participants in the roundtable discussion called for greater support in promoting Nepali products in the US through trade fairs and expanding the product coverage of the Nepal Trade Preference Programme (NTPP) if it is extended. They emphasized the crucial role of the capacity building and technical assistance component of the NTPP and the Nepal-US TIFA in enhancing the productive capacity of Nepali exporters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event witnessed the participation of approximately four dozen attendees, including trade experts, policymakers, exporters, freight forwarders, and representatives from the US Embassy in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Participants in the discussion stressed the need for support in promoting Nepali products in the US through trade fairs and expanding the product coverage of the NTPP if it is extended. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They emphasized the utilization of capacity building and technical assistance components of the NTPP and the Nepal-US Trade and Investment Framework Agreement (TIFA) to enhance the productive capacity of Nepali exporters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Around four dozen participants, including trade experts, policymakers, exporters, freight forwarders, and representatives from the US Embassy in Nepal, attended the event.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18261', 'image' => '20230723060733_collage.jpg', 'article_date' => '2023-07-23 06:02:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18537', 'article_category_id' => '1', 'title' => 'Central Bank to Unveil Monetary Policy Today ', 'sub_title' => '', 'summary' => 'July 23: Nepal Rastra Bank (NRB) is unveiling the Monetary Policy for the current fiscal year today. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 23: Nepal Rastra Bank (NRB) is unveiling the Monetary Policy for the current fiscal year today. The central bank is organizing a news conference at 3 pm to unveil the policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Board of Governors of NRB this morning endorsed the monetary policy. The monetary policy is the policy formulated by the country's central bank to support economic expansion by maintaining macroeconomic stability. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18260', 'image' => '20230723022952_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-23 14:29:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18529', 'article_category_id' => '1', 'title' => 'SEBON Grants Broker Licenses to 11 More Companies', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal(SEBON) has decided to grant broker licenses to 11 more companies.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 21: The Securities Board of Nepal(SEBON) has decided to grant broker licenses to 11 more companies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The meeting of the Board of Directors held on July 20 took the decision to grant broker licenses to additional 11 companies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the spokesperson of the Board, Mukti Shrestha, Milky Way Share Broker Company, Capital Hub Pvt. Ltd., Ashabhairav Securities, and Paahi Investment Pvt. Ltd have been granted broker licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Other companies granted broker licenses include S.P.S.A. Securities, N.M.B. Securities, Sanima Securities, Stocksarts Securities, Indira Securities, Blue Chip Securities, and Garima Securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the SEBON had issued broker licenses to 18 companies out of 46 companies which were provided with the letters of intent for the licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among them, seven broker companies have already started their operations in the stock market, while the remaining ten companies are still in the process of obtaining membership of Nepal Stock Exchange to begin the trading of the equities on the NEPSE. </span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18259', 'image' => '20230721051200_collage (17).jpg', 'article_date' => '2023-07-21 17:10:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18528', 'article_category_id' => '1', 'title' => 'Private Sector Complains of Policy Intervention', 'sub_title' => '', 'summary' => 'July 21: The private sector has complained that they are unable to do business due to the policies and directives brought by the government one after the other.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 21: The private sector has complained that they are unable to do business due to the policies and directives brought by the government one after the other. The presidents of Birgunj Chamber of Commerce and Industry, Morang Chamber of Commerce and Industry, Siddhartha Chamber of Commerce and Industry and Nepalgunj Chamber of Commerce and Industry issued a joint statement on Thursday and warned that if the situation continues, there will be no option than to go on a strike.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Anil Agarwal of Birgunj Chamber of Commerce and Industry, Naveen Rijal of Morang Chamber of Commerce and Industry, Thakur Kumar Shrestha of Siddhartha Chamber of Commerce and Industry and Abdul Waheed Mansuri of Nepalgunj Chamber of Commerce and Industry stated that the government agencies have caused challenges in transportation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They said that economic activities have been declining due to unexpected policy intervention. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The provision requiring details of of importer and distributor on the labels of imported goods has become mandatory now but the notification issued by the Department of Customs has created more confusion, reads the joint statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">This arrangement has been implemented since July 17, the first day of the new fiscal year. Agrawal, President of Birgunj Chamber of Commerce and Industry, said that the Director General of the Department of Customs was asked to solve the problem before it was implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The private has sector termed this provision as vague and unreasonable and said that it has badly affected imports and domestic trade. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“The information issued by the department is not clear, and the relevant authorities are also not clear about the labelling. Therefore, this labelling should be postponed until clear provisions and policy arrangements and guidelines regarding labelling are issued," the joint statement further added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They also claim that for the past few months, the customs administrators have been harassing the importers in the name of revenue collection. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The organizations have said that importers are also in trouble due to the practice of seizing the cargo vehicles that have passed the customs clearance and sending them to the Revenue Investigation Office in the name of investigation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They demanded an end to the practice of sending the goods to the Revenue Investigation Office with the intention of causing trouble to the cargo vehicles that have passed the customs inspection after completing the necessary procedures.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18258', 'image' => '20230721025659_Birgunjjjjjjjjjj.jpg', 'article_date' => '2023-07-21 14:55:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18527', 'article_category_id' => '1', 'title' => 'Nepal, EU Sign Grant Agreement of More than Rs 10.5 Billion ', 'sub_title' => '', 'summary' => 'July 21: The Government of Nepal has signed a grant agreement of more than Rs 10.5 billion with the European Union (EU) for two different programmes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Government of Nepal has signed a grant agreement of more than Rs 10.5 billion with the European Union (EU) for two different programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal and the EU signed the agreements at a programme organised at the Finance Ministry in Singha Durbar on Friday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Two separate Financing Agreements includes a grant agreement of 50 million pound sterling (equivalent to Rs 7.38 billion) for 'Quality Education for All' to support the School Education Sector Plan (SESP) and a grant agreement of 22 million pound sterling (equivalent to Rs 3.25 billion) for the 'Local Adaptation to Climate Change' initiative. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'Quality Education for All' will support the implementation of the government's School Education Sector Plan in a sector-wide approach supported by eight development partners, including the EU. The overall objective of this support is to contribute to a well-educated and skilled society in Nepal which is able to play an active role in the social and economic development of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Secretary Arjun Prasad Pokharel said that the support for SESP in increasing equitable access to education and improving the quality is crucial for human capital development.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal is making sincere efforts to balance the development and climate action. I appreciate the support of EU to plan and develop measures for Disaster Risk Reduction and to focus on increased human and financial capacities in order to enable the selected local levels and communities manage their natural resources in regards to adaptation to climate change. I would like to thank the European Union for its continued support in the socio-economic development endeavors of Nepal," said Pokharel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, EU Commissioner for international Partnerships, Jutta Urpilainen, mentioned that the European Union was proud to continue its 20-year support to Nepal in education. “Supporting quality education is one of our core commitments in our cooperation. We are heartened by the government's commitment to support quality education and are happy to be a close partner," stated EU Ambassador to Nepal, Nona Deprez. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further said that the European Union and Finland, as team Europe, will continue to work with local and provincial governments in Sudurpaschim and Karnali so they are empowered to make the most of their natural resources sustainable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'Local Adaptation to Climate Change' is initiated with an overall objective to improve the sustainability and conservation of natural resources to notably increase their climate resilience in Sudurpaschim and Karnali provinces, reads a press release issued by the Finance Ministry.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18257', 'image' => '20230721025506_eu.jpg', 'article_date' => '2023-07-21 14:54:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18526', 'article_category_id' => '1', 'title' => 'Monetary Policy should Prioritize Investment in Productive Sector: MPs ', 'sub_title' => '', 'summary' => 'July 21: Lawmakers have suggested the Nepal Rastra Bank (NRB) to bring a monetary policy for the fiscal year 2023/24 that encourages increasing investment in the productive sector.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: Lawmakers have suggested the Nepal Rastra Bank (NRB) to bring a monetary policy for the fiscal year 2023/24 that encourages increasing investment in the productive sector. They also stressed on creating more jobs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Members of Parliament made such remarks at a meeting of the Finance Committee of the House of Representatives (HoR) on Thursday. The MPs argued that the monetary policy should focus on creating domestic production to make a robust national economy. Most of the committee members said that the new monetary policy should prioritize the agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Former Finance Minister Bishnu Prasad Poudel asked the NRB to ponder on applying best policies that create more jobs and ensure increased productivity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poudel was of the view that a moderate monetary policy was needed instead of a tough or a flexible policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The current situation is the result of the past. So it is necessary to review the policies of the past," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, lawmaker Dr Swornim Wagle said that there wasn’t any balance between the economic growth rate and loan investment. He added that the banks and financial institutions made their loan investment more on unproductive sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Wagle stated that loan in the productive sector should be increased by tightening loans on real estate sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Gyan Bahadur Shahi claimed that the BFIs were making unfair benefits by investing loans on high interest rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, lawmaker Bhagwati Chaudhary said that the small and medium-sized enterprises should get loan in an accessible manner and the micro-finance institutions should be regulated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Governor of NRB Maha Prasad Adhikari said that the new monetary policy would focus on achieving economic growth rate set by the government, inflation control and management of external sector in the economy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18256', 'image' => '20230721022413_KB-KTM-0U3A1929.JPG', 'article_date' => '2023-07-21 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18525', 'article_category_id' => '1', 'title' => 'SC Seeks Written Response from Government on Constituency Development Fund ', 'sub_title' => '', 'summary' => 'July 21: The Supreme Court has sought a written response from the government on its financial arrangement for the constituency development fund. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Supreme Court has sought a written response from the government on its financial arrangement for the constituency development fund. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Justice Hari Prasad Phuyal issued a show cause notice to the government after conducting a preliminary hearing on a writ petition on Thursday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, Office of the Prime Minister, and Finance Ministry, among others have been demanded written response on why Rs 50 million was allocated to the constituency development fund through the recent budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the budget speech (point no 445) announced on May 29, the government included the controversial provision of allocating Rs 50 million to a constituency. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A writ petition was filed against this arrangement, arguing that it was a wrong trend to distribute money to lawmakers at a time when the country was facing economic crisis. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18255', 'image' => '20230721013914_Supreme Court.jpg', 'article_date' => '2023-07-21 13:38:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18524', 'article_category_id' => '1', 'title' => 'Nepal-China sign MoU on Development and Exchange of Agricultural Technology, Skills ', 'sub_title' => '', 'summary' => 'July 21: The Nepal Agricultural Research Council (NARC) and Sichuan Academy of Agricultural Sciences (SAAS) signed a Memorandum of Understanding (MoU) on Thursday on technology development and exchange of skills in the field of agriculture. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Nepal Agricultural Research Council (NARC) and Sichuan Academy of Agricultural Sciences (SAAS) signed a Memorandum of Understanding (MoU) on Thursday on technology development and exchange of skills in the field of agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Director of NARC Dr Dhurba Raj Bhattarai and Vice-Chairman of SAAS Dr Leo Younghang signed the MoU on technology transfer and skills exchange. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the two institutions would cooperate on technology transfer and developed in the field of agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing the information about the MoU, NARC Executive Director Dr Bhattarai said that agreement has been made to collaborate on increasing quality productions as well as agriculture development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, SAAS Vice-Chairman has pledged to provide training to Nepali researchers and technicians on high-quality agricultural technology. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Such training would be given to Nepali researchers on maize and sweet yam production in the near future. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of SAAS Vice-Chairman is currently on three-day Nepal visit. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18254', 'image' => '20230721010028_Agri.jpg', 'article_date' => '2023-07-21 12:59:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18523', 'article_category_id' => '1', 'title' => 'Probe Committee to Investigate Gold Smuggling Incident at TIA ', 'sub_title' => '', 'summary' => 'July 21: The Department of Customs has formed a probe committee to investigate into the incident related to the smuggling in of around one quintal gold from TIA without checking. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Department of Customs has formed a probe committee to investigate into the incident related to the smuggling in of around one quintal gold from TIA without checking. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A six-member probe committee was formed under coordination of Man Bahadur Poudel, the director at the Investigation Section of the Department of Customs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Information Officer of the department Punya Bikram Khadka, the investigation committee has been directed to submit its report within five days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the department, Shova Kanta Poudel, formed the probe committee on Friday to look into the incident of how around one quintal gold was cleared from the customs undetected. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Information Officer Khadka said, "The probe committee has been formed as such situation can sometimes arise due to technical error even when the department’s staff carry out necessary checking." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Revenue Investigation had seized around 100 kilogrammes of gold from Sinamangal on Wednesday on a special tip-off. A total of six persons have been arrested in this connection so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the Department of Revenue Investigation, Nawaraj Dhungana, said the seized yellow metal has been sent to Nepal Rastra Bank through the Department of Customs for its safe-keeping. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18253', 'image' => '20230721113507_goldee.jpg', 'article_date' => '2023-07-21 11:34:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18522', 'article_category_id' => '1', 'title' => 'Mandatory Labeling Provision for Import Items Courts Controversy', 'sub_title' => 'Import of Medicines Halted due to the New Provision of Labeling', 'summary' => 'July 20: Even though the government has made it mandatory for labeling imported goods with clear details of the importer and distributor since July 17,', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 20: Even though the government has made it mandatory for labeling imported goods with clear details of the importer and distributor since July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">7, the importers complain that the authorities are indifferent towards solving the unreasonable difficulties caused by this new provision. Import of medicine has been stopped for three days due to conflicting legal arrangements of government agencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Prakash Khandelwal, senior vice president of Nepal Drug Practitioners Association, the importers have stopped the importing drugs after the Department of Customs instructed them to label only the label, but the Drug Administration Department said that no details can be mentioned on the packaging of the drugs without approval.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, the importers has not yet received the medicines that have arrived at the border. Senior Vice President Khandelwal also warned that if the problem is not resolved soon, there may be shortage of medicines. Even now, about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of medicine supplies depend on imports, say businessmen.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The customs clearance of drugs has not been possible since July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The customs officials cite one rule while the DDA says no content can be added to the packaging. In such a situation, there is no option but to stop the import,'' said Khandelwal, who is also a medicine importer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Customs Administrator of Birganj Customs, Dilaram Panthi, admitted that the businessmen were confused due to the contradictions in the rules between the government agencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“There is no need to put a label when passing the customs inspection. The label should be kept at the time of distribution. There is no obstacle in clearing the customs check. The businessmen must have been talking about the difficulties caused by the rules of the drug administration department,” said Customs Administrator Panthi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government, through the Finance Bill </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, has made arrangement for labeling the imported goods before sending them to the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The labels should include the details of the importer and the distributor. The Department of Customs has said that if goods are found to be sold without labels, such goods will be confiscated. The department had sent information about this to the importers last month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The importers complain that the government implemented this system in a very short time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We had informed all agencies concerned about the problems that may arise in the import of medicines due to this system. Instead of a solution, they issued us a warning that they would confiscate the medicines. How can medicines be imported in such a situation?” questioned Khandelwal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government claims that the labeling system will be effective in controlling the import of low-quality goods and preventing illegal imports. However, Hari Gautam, senior vice president of Birgunj Chamber of Commerce and Industry, says that this arrangement could be just another pretext of collecting unauthorized money by extorting the businessmen.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18252', 'image' => '20230721105831_20190107110731_maxresdefault.jpg', 'article_date' => '2023-07-21 10:57:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18535', 'article_category_id' => '1', 'title' => 'NRB Resumes Concessional Loan Scheme', 'sub_title' => '', 'summary' => 'July 23: Nepal Rastra Bank has resumed the concessional loan programme after a gap of five months. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 23: Nepal Rastra Bank has resumed the concessional loan programme after a gap of five months. The scheme, which was halted in mid-December, has been revived by the central bank since mid-May.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the data published by NRB, 644 loans worth Rs 1.87 billion have been approved from mid-May to mid-June alone under this scheme. Banks and financial institutions (BFIs) have invested Rs 258.34 billion to 147,510 borrowers till mid-June. Of that, 231 billion rupees are yet to be recovered.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Till mid-May, 146,866 borrowers had taken subsidized loans of Rs 256.47 billion rupees. Out of that amount, Rs 232.4 billion remains to be recovered.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">NRB had informally stopped loan approval since mid-December after the government stopped payment of interest on subsidized loans due to the reduction in revenue collection following the ban on the import of some goods and slowdown of economic activities. Executive Director of NRB Dr Prakash Kumar Shrestha said that the concessional loan programme was postponed for some time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The government has announced that the subsidized loans will be restructured based on the loan effectiveness study in the budget of the current fiscal year. The government had allocated Rs 13.59 billion for this scheme in the previous fiscal year. But for the current FY, it has been reduced by Rs 2 billion to Rs 11.59 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Although there has been an increase in subsidized loans, it is being criticized for not being effective and for being misused by those who have access to it. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">NRB is also studying the effectiveness of subsidized loans. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the procedures related to subsidized loans, banks have been providing such loans in 10 sectors, namely commercial agriculture and animal husbandry, educated youth self-employment, projects of youth returning from abroad, women's enterprise, Dalit business development, higher technical and vocational education, construction of earthquake-affected private housing, textile industry, technical and professional and youth self-employment programme.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Under this scheme, banks can set the interest rate by adding a maximum of 2 percentage points to their base rate. Out of that, there is a provision of 6 percent subsidy for women entrepreneurship loans and 5 percent for other loans.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18266', 'image' => '20230723022857_hqdefault.jpg', 'article_date' => '2023-07-23 13:03:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18534', 'article_category_id' => '1', 'title' => 'Ncell Launches Combo Pack', 'sub_title' => '', 'summary' => 'July 23: Ncell customers can now avail data and SMS services on a daily basis along with unlimited voice calls on any network.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 23: Ncell customers can now avail data and SMS services on a daily basis along with unlimited voice calls on any network. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a statement, Ncell said it has launched a combo pack from which customers can take advantage of both 'on net and off net' services. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is said that 'All Net Combo Pack' has been introduced to make calls to Nepali mobile service providers other than Ncell at affordable rates. In this pack, the customers can get unlimited All Net voice calls, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> GB data every day and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> SMS inclusive of taxes at Rs 998. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the customers who need voice service to call Ncell numbers on net can get unlimited service at Rs 798. Ncell said that the duration of both these combo packs is of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">days.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18265', 'image' => '20230723123735_1690080341.jpg', 'article_date' => '2023-07-23 12:37:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18533', 'article_category_id' => '1', 'title' => 'Trade Deficit has Increased Nine Folds: NCC President', 'sub_title' => '', 'summary' => 'July 23: President of Nepal Chamber of Commerce (NCC), Rajendra Malla, has emphasized on the need to reduce the trade deficit through export promotion by making maximum use of the natural resources within the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 23: President of Nepal Chamber of Commerce (NCC), Rajendra Malla, has emphasized on the need to reduce the trade deficit through export promotion by making maximum use of the natural resources within the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said so while concluding the training program given by the NCC to young entrepreneurs on international trade access and customs procedures. According to Malla, trade deficit has increased by nine times due to the imbalance between imports and exports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"It is necessary to attract young entrepreneurs to promote exports by increasing domestic production," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He emphasized on the need to facilitate customs process and establish quarantine labs of international level at the main border crossings to increase exports. Malla said that the NCC will also help in packaging and branding of the products for export promotion. He added that since international trade is becoming digitalized recently, online delivery should be organized.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NCC President Malla made it clear that the chamber conducts various programs aimed at young entrepreneurs every year for business facilitation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NCC trained about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">young entrepreneurs in technical matters such as customs procedures in the market, harmonic code of export goods. The NCC organized a four-day training program with the technical support of Trade and Export Promotion Center.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18264', 'image' => '20230723115344_Trade.jpg', 'article_date' => '2023-07-23 11:53:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18532', 'article_category_id' => '1', 'title' => '68 Percent Paddy Plantation Completed: DoA ', 'sub_title' => '', 'summary' => 'July 23: The country has seen 68 percent of paddy plantation as of July 21 this year, according to data of the Department of Agriculture (DoA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 23: The country has seen 68 percent of paddy plantation as of July 21 this year, according to data of the Department of Agriculture (DoA). The figure is 20 percent less compared to 88 percent of paddy cultivation across the country during the same period of last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of sufficient rainfall proportionally in all areas of the country is to blame in part for this decline, said Prakash Kumar Sanjel, spokesperson for the Ministry of Agriculture and Livestock Development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delay in the arrival of monsoon this year in Madhes Province, Bagmati Province and Gandaki Province in particular has caused a decline in the paddy plantation, said the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, there is a partial impact of monsoon winds in the country. The low-pressure line of monsoon has remained towards the south of its average place, resulting in comparatively low rainfall, said meteorologist Sanjib Adhikari. "Now, there is a break in monsoon. There is a decline in rainfall. It is not that rainfall has not occurred at all. There has been low rainfall as compared to the past," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of substantial monsoon rains has caused difficulty in the paddy cultivation this year, said another meteorologist Rojan Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Monsoon rains seem weak than average. The pattern of monsoon is not the same every year. Monsoon seems weak this year. There is no possibility of rainfall for the next two days or three," he said. However, rainfall is taking place fragmentally across the country, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paddy plantation in Sudurpaschim Province is almost over. The department estimates that 90-95 per cent paddy would be planted till August 17 as paddy plantation take place till mid-August in the Tarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Climate Analysis Branch of the Department of Hydrology and Meteorology, only 37 per cent monsoon rain has taken place across the country so far in this monsoon season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Branch, Sudarshan Humagain, said a total of 538.2 millimeters of rainfall has occurred in average across the country from June 1 to July 21. A total of 1,462 millimeters of rainfall occurred in four months (June 13 to October 2) in the country last year. Monsoon had entered Nepal on June 14 this year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18263', 'image' => '20230723104937_riceeee.jpg', 'article_date' => '2023-07-23 10:48:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18531', 'article_category_id' => '1', 'title' => 'Yarsagumba Export from Nepal Surges by 31% in FY 2022/2023', 'sub_title' => '', 'summary' => 'The export of Yarsagumba from Nepal increased by 31 percent in the first 11 months of fiscal year 2022/2023. According to the data from the Department of Customs, Nepal exported 627 kilograms of Yarsagumba from mid-July) 2022 to mid-June 2023. This marks a 31 percent increase compared to the previous year when Nepal exported 476 kilograms during the same period.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 23: The export of Yarsagumba from Nepal increased by 31 percent in the first 11 months of fiscal year 2022/2023.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to the data from the Department of Customs, Nepal exported 627 kilograms of Yarsagumba from mid-July) 2022 to mid-June 2023. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This marks a 31 percent increase compared to the previous year when Nepal exported 476 kilograms during the same period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Along with the increase in the export of Yarsagumba volume, the transaction amount has also increased. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal exported yarsagumba worth over Rs 40 crores in the first eleven months of fiscal year 2022/2023 against total export of worth Rs 29 crores during the same period the year before. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Yarsagumba was exported to 12 countries, with Hong Kong and Cambodia being the major importers. During the review period, Nepal exported Yarsagumba to Cambodia, China, France, Germany, Hong Kong, Italy, Korea, Malaysia, Singapore, the United Kingdom, the United States, and Vietnam, according to the data released by the Department of Customs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the review period, the highest quantity of Yarsagumba export from Nepal was to Hong Kong. In that period, Nepal exported 273 kilograms of Yarsagumba to Hong Kong, worth Rs 18 crores 87 lakhs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Cambodia was the second-largest importer, purchasing 184 kilograms of Yarsagumba worth Rs 12 crores 40 lakhs. The share of exports to Hong Kong and Cambodia combined accounted for more than three-quarters of the total Yarsagumba export from Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vietnam occupied the third position in the list of major importers of Yarsagumba from Nepal. During the review period, Vietnam imported Yarsagumba worth Rs 4 crores 53 lakhs.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Nepal exported Yarsagumba worth Rs 1 crore 31 lakhs to Singapore, Rs 1 crore 14 lakhs to the United States, Rs 97 lakhs to China, Rs 80 lakhs to Malaysia, Rs 20 lakhs 63 thousand to the United Kingdom, Rs 10 lakhs to France, Rs 9 lakhs to Italy, Rs 2 lakhs to Germany, and Rs 62 thousand to South Korea.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18262', 'image' => '20230723064415_collage (1).jpg', 'article_date' => '2023-07-23 06:42:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18530', 'article_category_id' => '1', 'title' => 'US Trade Preferences Should Cover More Products and Build Capacity for Nepal's Export Growth: Expert', 'sub_title' => '', 'summary' => 'Experts have called for Nepal to carefully assess the constraints faced by exporters and increase the utilization of trade preferences granted by the US.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 23: Experts have called for Nepal to carefully assess the constraints faced by exporters and increase the utilization of trade preferences granted by the US. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite receiving duty-free access to 77 products, Nepal's export performance in these select products has been disappointing. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To address this issue and improve export performance through such facilities, a roundtable discussion was organized by the South Asia Watch on Trade, Economics, and Environment (SAWTEE) in association with The Asia Foundation on July 20. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the discussion, a SAWTEE study on Nepal-US trade was presented, revealing that Nepal's merchandise exports to the US were lower in 2021, standing at US$108.3 million, compared to its peak in the late 1990s. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The US granted duty-free access to these additional products under the Nepal Trade Preference Programme (NTPP) to support Nepal's recovery from the 2015 earthquakes, and this program will continue until December 31, 2025.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the study found that while total goods exports to the US have been increasing since 2012, exports of NTPP products have been declining.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In 2021, NTPP products accounted for only US$8.47 million, constituting 7.8 percent of total exports to the US, compared to 14 percent in 2012.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The utilization of NTPP remains low, at less than 50 percent, compared to another US duty-free scheme, the Generalized System of Preferences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Paras Kharel, Executive Director of SAWTEE, emphasized the importance of tackling productive capacity and supply-side constraints. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He highlighted that even if the available preferences were fully utilized, it would not lead to a significant increase in exports without resolving production and supply-related challenges.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Madhu Kumar Marasini, Secretary of the Ministry of Industry, Commerce, and Supplies, suggested that Nepal explore new products with comparative advantages for exporting to the US.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> He proposed including more products of export interest in the US's trade preferences for Nepal and emphasized the potential of services trade, particularly in IT exports.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Purushottam Ojha, Former Secretary of the Ministry of Industry, Commerce, and Supplies, suggested using Nepal's Commerce Policy and Nepal Trade Integration Strategy, which have identified priority products, as the basis for negotiating an extension of the US trade preferences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shankar Prasad Pandey, President of the Federation of Export Entrepreneurs Nepal (FEEN), emphasized the importance of identifying precise items of export interest for Nepal when seeking an extension of the US trade preference program. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Pandey expressed concern over the underutilization of the provision for technical assistance and capacity building under the Nepal-US Trade and Investment Framework Agreement (TIFA). To maximize benefits, he stressed the need for Nepal to establish clear objectives regarding the type of technical assistance required from the US.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Vidushi Rana, Executive Director of Goldstar Shoes, highlighted the significant potential and demand for Nepali footwear in the US. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the prohibitive high tariff faced by Nepali footwear in the US market poses challenges. Rana urged the US government to include footwear in the list of preference-granted products, considering the industry's potential to contribute to inclusive growth and job creation in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Ajit Bikram Shah, Founding member and Chairperson of The American Chamber of Commerce in Nepal (AMCHAM), stressed the need for Nepal to strengthen its negotiation skills to unlock its export potential in the US market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The participants in the roundtable discussion called for greater support in promoting Nepali products in the US through trade fairs and expanding the product coverage of the Nepal Trade Preference Programme (NTPP) if it is extended. They emphasized the crucial role of the capacity building and technical assistance component of the NTPP and the Nepal-US TIFA in enhancing the productive capacity of Nepali exporters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The event witnessed the participation of approximately four dozen attendees, including trade experts, policymakers, exporters, freight forwarders, and representatives from the US Embassy in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Participants in the discussion stressed the need for support in promoting Nepali products in the US through trade fairs and expanding the product coverage of the NTPP if it is extended. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They emphasized the utilization of capacity building and technical assistance components of the NTPP and the Nepal-US Trade and Investment Framework Agreement (TIFA) to enhance the productive capacity of Nepali exporters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Around four dozen participants, including trade experts, policymakers, exporters, freight forwarders, and representatives from the US Embassy in Nepal, attended the event.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18261', 'image' => '20230723060733_collage.jpg', 'article_date' => '2023-07-23 06:02:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18537', 'article_category_id' => '1', 'title' => 'Central Bank to Unveil Monetary Policy Today ', 'sub_title' => '', 'summary' => 'July 23: Nepal Rastra Bank (NRB) is unveiling the Monetary Policy for the current fiscal year today. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 23: Nepal Rastra Bank (NRB) is unveiling the Monetary Policy for the current fiscal year today. The central bank is organizing a news conference at 3 pm to unveil the policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Board of Governors of NRB this morning endorsed the monetary policy. The monetary policy is the policy formulated by the country's central bank to support economic expansion by maintaining macroeconomic stability. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-23', 'modified' => '2023-07-23', 'keywords' => '', 'description' => '', 'sortorder' => '18260', 'image' => '20230723022952_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-23 14:29:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18529', 'article_category_id' => '1', 'title' => 'SEBON Grants Broker Licenses to 11 More Companies', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal(SEBON) has decided to grant broker licenses to 11 more companies.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 21: The Securities Board of Nepal(SEBON) has decided to grant broker licenses to 11 more companies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The meeting of the Board of Directors held on July 20 took the decision to grant broker licenses to additional 11 companies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the spokesperson of the Board, Mukti Shrestha, Milky Way Share Broker Company, Capital Hub Pvt. Ltd., Ashabhairav Securities, and Paahi Investment Pvt. Ltd have been granted broker licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Other companies granted broker licenses include S.P.S.A. Securities, N.M.B. Securities, Sanima Securities, Stocksarts Securities, Indira Securities, Blue Chip Securities, and Garima Securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the SEBON had issued broker licenses to 18 companies out of 46 companies which were provided with the letters of intent for the licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among them, seven broker companies have already started their operations in the stock market, while the remaining ten companies are still in the process of obtaining membership of Nepal Stock Exchange to begin the trading of the equities on the NEPSE. </span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18259', 'image' => '20230721051200_collage (17).jpg', 'article_date' => '2023-07-21 17:10:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18528', 'article_category_id' => '1', 'title' => 'Private Sector Complains of Policy Intervention', 'sub_title' => '', 'summary' => 'July 21: The private sector has complained that they are unable to do business due to the policies and directives brought by the government one after the other.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">July 21: The private sector has complained that they are unable to do business due to the policies and directives brought by the government one after the other. The presidents of Birgunj Chamber of Commerce and Industry, Morang Chamber of Commerce and Industry, Siddhartha Chamber of Commerce and Industry and Nepalgunj Chamber of Commerce and Industry issued a joint statement on Thursday and warned that if the situation continues, there will be no option than to go on a strike.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Anil Agarwal of Birgunj Chamber of Commerce and Industry, Naveen Rijal of Morang Chamber of Commerce and Industry, Thakur Kumar Shrestha of Siddhartha Chamber of Commerce and Industry and Abdul Waheed Mansuri of Nepalgunj Chamber of Commerce and Industry stated that the government agencies have caused challenges in transportation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They said that economic activities have been declining due to unexpected policy intervention. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The provision requiring details of of importer and distributor on the labels of imported goods has become mandatory now but the notification issued by the Department of Customs has created more confusion, reads the joint statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">This arrangement has been implemented since July 17, the first day of the new fiscal year. Agrawal, President of Birgunj Chamber of Commerce and Industry, said that the Director General of the Department of Customs was asked to solve the problem before it was implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The private has sector termed this provision as vague and unreasonable and said that it has badly affected imports and domestic trade. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">“The information issued by the department is not clear, and the relevant authorities are also not clear about the labelling. Therefore, this labelling should be postponed until clear provisions and policy arrangements and guidelines regarding labelling are issued," the joint statement further added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They also claim that for the past few months, the customs administrators have been harassing the importers in the name of revenue collection. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The organizations have said that importers are also in trouble due to the practice of seizing the cargo vehicles that have passed the customs clearance and sending them to the Revenue Investigation Office in the name of investigation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They demanded an end to the practice of sending the goods to the Revenue Investigation Office with the intention of causing trouble to the cargo vehicles that have passed the customs inspection after completing the necessary procedures.</span></span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18258', 'image' => '20230721025659_Birgunjjjjjjjjjj.jpg', 'article_date' => '2023-07-21 14:55:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18527', 'article_category_id' => '1', 'title' => 'Nepal, EU Sign Grant Agreement of More than Rs 10.5 Billion ', 'sub_title' => '', 'summary' => 'July 21: The Government of Nepal has signed a grant agreement of more than Rs 10.5 billion with the European Union (EU) for two different programmes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Government of Nepal has signed a grant agreement of more than Rs 10.5 billion with the European Union (EU) for two different programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal and the EU signed the agreements at a programme organised at the Finance Ministry in Singha Durbar on Friday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Two separate Financing Agreements includes a grant agreement of 50 million pound sterling (equivalent to Rs 7.38 billion) for 'Quality Education for All' to support the School Education Sector Plan (SESP) and a grant agreement of 22 million pound sterling (equivalent to Rs 3.25 billion) for the 'Local Adaptation to Climate Change' initiative. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'Quality Education for All' will support the implementation of the government's School Education Sector Plan in a sector-wide approach supported by eight development partners, including the EU. The overall objective of this support is to contribute to a well-educated and skilled society in Nepal which is able to play an active role in the social and economic development of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Secretary Arjun Prasad Pokharel said that the support for SESP in increasing equitable access to education and improving the quality is crucial for human capital development.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal is making sincere efforts to balance the development and climate action. I appreciate the support of EU to plan and develop measures for Disaster Risk Reduction and to focus on increased human and financial capacities in order to enable the selected local levels and communities manage their natural resources in regards to adaptation to climate change. I would like to thank the European Union for its continued support in the socio-economic development endeavors of Nepal," said Pokharel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, EU Commissioner for international Partnerships, Jutta Urpilainen, mentioned that the European Union was proud to continue its 20-year support to Nepal in education. “Supporting quality education is one of our core commitments in our cooperation. We are heartened by the government's commitment to support quality education and are happy to be a close partner," stated EU Ambassador to Nepal, Nona Deprez. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further said that the European Union and Finland, as team Europe, will continue to work with local and provincial governments in Sudurpaschim and Karnali so they are empowered to make the most of their natural resources sustainable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'Local Adaptation to Climate Change' is initiated with an overall objective to improve the sustainability and conservation of natural resources to notably increase their climate resilience in Sudurpaschim and Karnali provinces, reads a press release issued by the Finance Ministry.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18257', 'image' => '20230721025506_eu.jpg', 'article_date' => '2023-07-21 14:54:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18526', 'article_category_id' => '1', 'title' => 'Monetary Policy should Prioritize Investment in Productive Sector: MPs ', 'sub_title' => '', 'summary' => 'July 21: Lawmakers have suggested the Nepal Rastra Bank (NRB) to bring a monetary policy for the fiscal year 2023/24 that encourages increasing investment in the productive sector.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: Lawmakers have suggested the Nepal Rastra Bank (NRB) to bring a monetary policy for the fiscal year 2023/24 that encourages increasing investment in the productive sector. They also stressed on creating more jobs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Members of Parliament made such remarks at a meeting of the Finance Committee of the House of Representatives (HoR) on Thursday. The MPs argued that the monetary policy should focus on creating domestic production to make a robust national economy. Most of the committee members said that the new monetary policy should prioritize the agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Former Finance Minister Bishnu Prasad Poudel asked the NRB to ponder on applying best policies that create more jobs and ensure increased productivity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poudel was of the view that a moderate monetary policy was needed instead of a tough or a flexible policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The current situation is the result of the past. So it is necessary to review the policies of the past," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, lawmaker Dr Swornim Wagle said that there wasn’t any balance between the economic growth rate and loan investment. He added that the banks and financial institutions made their loan investment more on unproductive sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Wagle stated that loan in the productive sector should be increased by tightening loans on real estate sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Gyan Bahadur Shahi claimed that the BFIs were making unfair benefits by investing loans on high interest rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, lawmaker Bhagwati Chaudhary said that the small and medium-sized enterprises should get loan in an accessible manner and the micro-finance institutions should be regulated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Governor of NRB Maha Prasad Adhikari said that the new monetary policy would focus on achieving economic growth rate set by the government, inflation control and management of external sector in the economy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18256', 'image' => '20230721022413_KB-KTM-0U3A1929.JPG', 'article_date' => '2023-07-21 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18525', 'article_category_id' => '1', 'title' => 'SC Seeks Written Response from Government on Constituency Development Fund ', 'sub_title' => '', 'summary' => 'July 21: The Supreme Court has sought a written response from the government on its financial arrangement for the constituency development fund. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Supreme Court has sought a written response from the government on its financial arrangement for the constituency development fund. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Justice Hari Prasad Phuyal issued a show cause notice to the government after conducting a preliminary hearing on a writ petition on Thursday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, Office of the Prime Minister, and Finance Ministry, among others have been demanded written response on why Rs 50 million was allocated to the constituency development fund through the recent budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the budget speech (point no 445) announced on May 29, the government included the controversial provision of allocating Rs 50 million to a constituency. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A writ petition was filed against this arrangement, arguing that it was a wrong trend to distribute money to lawmakers at a time when the country was facing economic crisis. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18255', 'image' => '20230721013914_Supreme Court.jpg', 'article_date' => '2023-07-21 13:38:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18524', 'article_category_id' => '1', 'title' => 'Nepal-China sign MoU on Development and Exchange of Agricultural Technology, Skills ', 'sub_title' => '', 'summary' => 'July 21: The Nepal Agricultural Research Council (NARC) and Sichuan Academy of Agricultural Sciences (SAAS) signed a Memorandum of Understanding (MoU) on Thursday on technology development and exchange of skills in the field of agriculture. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Nepal Agricultural Research Council (NARC) and Sichuan Academy of Agricultural Sciences (SAAS) signed a Memorandum of Understanding (MoU) on Thursday on technology development and exchange of skills in the field of agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Director of NARC Dr Dhurba Raj Bhattarai and Vice-Chairman of SAAS Dr Leo Younghang signed the MoU on technology transfer and skills exchange. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the two institutions would cooperate on technology transfer and developed in the field of agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing the information about the MoU, NARC Executive Director Dr Bhattarai said that agreement has been made to collaborate on increasing quality productions as well as agriculture development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, SAAS Vice-Chairman has pledged to provide training to Nepali researchers and technicians on high-quality agricultural technology. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Such training would be given to Nepali researchers on maize and sweet yam production in the near future. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of SAAS Vice-Chairman is currently on three-day Nepal visit. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18254', 'image' => '20230721010028_Agri.jpg', 'article_date' => '2023-07-21 12:59:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18523', 'article_category_id' => '1', 'title' => 'Probe Committee to Investigate Gold Smuggling Incident at TIA ', 'sub_title' => '', 'summary' => 'July 21: The Department of Customs has formed a probe committee to investigate into the incident related to the smuggling in of around one quintal gold from TIA without checking. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 21: The Department of Customs has formed a probe committee to investigate into the incident related to the smuggling in of around one quintal gold from TIA without checking. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A six-member probe committee was formed under coordination of Man Bahadur Poudel, the director at the Investigation Section of the Department of Customs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Information Officer of the department Punya Bikram Khadka, the investigation committee has been directed to submit its report within five days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the department, Shova Kanta Poudel, formed the probe committee on Friday to look into the incident of how around one quintal gold was cleared from the customs undetected. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Information Officer Khadka said, "The probe committee has been formed as such situation can sometimes arise due to technical error even when the department’s staff carry out necessary checking." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Revenue Investigation had seized around 100 kilogrammes of gold from Sinamangal on Wednesday on a special tip-off. A total of six persons have been arrested in this connection so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the Department of Revenue Investigation, Nawaraj Dhungana, said the seized yellow metal has been sent to Nepal Rastra Bank through the Department of Customs for its safe-keeping. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18253', 'image' => '20230721113507_goldee.jpg', 'article_date' => '2023-07-21 11:34:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18522', 'article_category_id' => '1', 'title' => 'Mandatory Labeling Provision for Import Items Courts Controversy', 'sub_title' => 'Import of Medicines Halted due to the New Provision of Labeling', 'summary' => 'July 20: Even though the government has made it mandatory for labeling imported goods with clear details of the importer and distributor since July 17,', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 20: Even though the government has made it mandatory for labeling imported goods with clear details of the importer and distributor since July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">7, the importers complain that the authorities are indifferent towards solving the unreasonable difficulties caused by this new provision. Import of medicine has been stopped for three days due to conflicting legal arrangements of government agencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Prakash Khandelwal, senior vice president of Nepal Drug Practitioners Association, the importers have stopped the importing drugs after the Department of Customs instructed them to label only the label, but the Drug Administration Department said that no details can be mentioned on the packaging of the drugs without approval.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, the importers has not yet received the medicines that have arrived at the border. Senior Vice President Khandelwal also warned that if the problem is not resolved soon, there may be shortage of medicines. Even now, about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of medicine supplies depend on imports, say businessmen.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The customs clearance of drugs has not been possible since July </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The customs officials cite one rule while the DDA says no content can be added to the packaging. In such a situation, there is no option but to stop the import,'' said Khandelwal, who is also a medicine importer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Customs Administrator of Birganj Customs, Dilaram Panthi, admitted that the businessmen were confused due to the contradictions in the rules between the government agencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“There is no need to put a label when passing the customs inspection. The label should be kept at the time of distribution. There is no obstacle in clearing the customs check. The businessmen must have been talking about the difficulties caused by the rules of the drug administration department,” said Customs Administrator Panthi.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government, through the Finance Bill </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, has made arrangement for labeling the imported goods before sending them to the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The labels should include the details of the importer and the distributor. The Department of Customs has said that if goods are found to be sold without labels, such goods will be confiscated. The department had sent information about this to the importers last month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The importers complain that the government implemented this system in a very short time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We had informed all agencies concerned about the problems that may arise in the import of medicines due to this system. Instead of a solution, they issued us a warning that they would confiscate the medicines. How can medicines be imported in such a situation?” questioned Khandelwal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government claims that the labeling system will be effective in controlling the import of low-quality goods and preventing illegal imports. However, Hari Gautam, senior vice president of Birgunj Chamber of Commerce and Industry, says that this arrangement could be just another pretext of collecting unauthorized money by extorting the businessmen.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-21', 'modified' => '2023-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '18252', 'image' => '20230721105831_20190107110731_maxresdefault.jpg', 'article_date' => '2023-07-21 10:57:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
