July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower…
July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower…
July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi'…
July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19.…
July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street…
July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning.…
Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the…
July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider…
Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July…
July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu…
July 11: The government’s expenditure system is still full of…
July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal.…
July 11: Police have busted a racket involved in using Nepali migrant workers to smuggle gold into the country.…
July 11: A helicopter belonging to Manang Air has been reported missing since 10:01 am today.…
July 11: The Hetauda-Bharatpur 220 kV transmission line has come into operation.…
…
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' => '18440', 'article_category_id' => '1', 'title' => 'Construction of Pancheshwar Hydropower Project Remains Uncertain', 'sub_title' => '', 'summary' => 'July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Dahal conveyed the message to the parliament that Nepal and India had agreed to finalize the Detailed Project Report (DPR) of Pancheshwar project within three months and prepare the investment draft within a year. The construction of the Pancheshwar hydropower project has been ongoing since the signing of the Mahakali Treaty almost three decades ago in 2052 BS, without any tangible achievements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that PM’s Dahal's announcement to "complete the DPR within three months and prepare the investment draft within one year" is not likely to happen anytime soon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is concern among the general public that this agreement will expire like the previous agreements, and Pancheshwar project won't move ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the signing of the Mahakali Treaty between the Government of Nepal and the Government of India, it was first decided to implement this project with bilateral investment and operate it jointly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It is said that a total of 6,480 megawatts of electricity will be generated from this reservoir-based hydropower project. The average production is estimated to be 10,671 gigawatt hours per year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2066, in the joint meeting of the Ministry of Water Resources of Nepal and India, it was agreed to establish the Pancheswar Development Authority and complete the DPR and other necessary works to advance the Pancheswar Hydropower Project. Accordingly, the Pancheswar Development Board was also formed. But the board has not done anything significant so far.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the commitment to proceed with the construction of the Pancheshwar Hydropower Project is made time and again but is not implemented, questions have started to arise about the reason for the delay. Hydroelectrician Anup Kumar Upadhyay says strong political commitment from both countries is needed for the construction of the project to go ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"In the case of Pancheshwar, there seems to be a lack of commitment and willingness to build the project from the political level," he said, adding, "Differences in interpreting the Mahakali Treaty and the issue of water distribution is delaying the project."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Radhesh Pant, an expert in the hydropower sector and a former executive officer of the Investment Board, believes that Pancheshwar will be of a great significance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“If Pancheshwar is built, both Nepal and India can benefit. This project will also have a positive impact on the people's lives. Apart from energy, the Pancheshwar hydropower project can have many positive outcomes,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As Pancheswar is a reservoir-based project, it is also possible to collect flood water from the Mahakali River and use it for irrigation during dry season to increase food production. It is said that the dam of the project will be 315 meters high.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Despite many benefits, Pant is not confident that the stalled project will move forward. There seems to be a practice of agreeing and not implementing the project. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18170', 'image' => '20230712020710_1689103845.2023-07-12-1.jpg', 'article_date' => '2023-07-12 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18438', 'article_category_id' => '1', 'title' => 'Daraz to Promote Make in Nepal 'Swadeshi' Campaign of CNI', 'sub_title' => '', 'summary' => 'July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI had launched the Make in Nepal ‘Swadeshi' Campaign from 2021 with the goal of building a self-sufficient economy by increasing domestic industrial production and making Nepali goods and services accessible in the national and international markets.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has been doing policy advocacy, networking and marketing support for industries involved in the Swadeshi campaign, promoting indigenous products, and increasing the workforce.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has reached an understanding with Daraz for assisting in the marketing of goods and services of CNI members. According to the agreement, Daraz will help to display the goods of the members involved in the Make in Nepal Campaign on its online platform and to provide the necessary training and consultations to the CNI members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajesh Kumar Agarwal, president of the CNI, said that this agreement with Daraz would support in marketing and networking of the members affiliated to the Make in Nepal Swadeshi Campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that policy advocacy and other promotional activities will be carried forward to achieve the objectives of the campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Aanchal Kunwar, managing director of Daraz, said that the company’s online platform has been made available for the promotion of domestic products and to encourage the members involved in this campaign.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18169', 'image' => '20230712010536_1689124547.1 CNI_DRAJ_11zon.jpeg', 'article_date' => '2023-07-12 13:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18437', 'article_category_id' => '1', 'title' => 'More and More Entrepreneurs Quitting Business for Foreign Employment ', 'sub_title' => '', 'summary' => 'July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. More and more entrepreneurs are leaving the country for foreign countries after their efforts to revitalize their COVID-dented businesses failed to pay off. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs are finding it hard to pay their staff and rent for the building or land. The number of entrepreneurs leaving the country for overseas has increased in the district in recent months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon observation, one can see that many outlets and shutters in the main trading hub Narayangadh and surrounding markets are either shut or have put up 'On Sale' notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chitwan Chamber of Commerce and Industry President Chun Narayan Shrestha said several businesspersons have closed their businesses and gone abroad. According to him, they went abroad on business visa. Similarly, 12 industrialists and business persons have formally applied for closing their businesses, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The situation is such that it is difficult to either start a new venture or to continue with the existing business due to the economic slowdown and the exorbitant interest rates charged by the banks," Shrestha summed up the current business environment and the reason for entrepreneurs quitting the business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, although this problem is comparatively less in the main market areas, it is severe in new and expanding trade hubs. He said the entrepreneurs and traders are leaving their businesses due to the 'tight' monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shrestha further added, "The big industries and businesses are running for the 'sake of their existence' whereas the smaller businesses have been hit hard and are in vulnerable situation." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even those enterprises that are somehow keeping their businesses afloat have been cutting down on their production and employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chamber of Commerce and Industry, Chitwan, said the enterprises that are in operation have also reduced their production. They are producing only around 40 per cent of their total production capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that among the 4,000 registered members of the Chitwan Chamber of Commerce and Industry that are in operation, most are running in financially weak condition. The automobile sector, poultry sector, manufacturing industries, food industries, construction enterprises, among others, are affected the most by the economic downturn exacerbated by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Industry Association of Chitwan, Trilochan Kandel said till date 30 per cent industries have shut down in Chitwan. He added that this trend is on the rise. </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 him, 30 per cent of the 1,200 members affiliated to the association have closed their businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The trend of industries closing down is increasing while opening new ones is minimal. It appears that the trend of industries closing down will still continue with the increasing bank interest rates and the economic uncertainty," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that with this growing trend of entrepreneurs going abroad by closing their enterprises will result in large number of people losing employment and hundreds of thousands of youths being left with no option but to go for foreign employment, Kandel suggested that the monetary policy of the state should be flexible to stop this trend. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18168', 'image' => '20230712120844_foreign emp.jpg', 'article_date' => '2023-07-12 12:08:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18436', 'article_category_id' => '1', 'title' => 'KMC Police Punished for Behaving Rudely with Street Vendors', 'sub_title' => '', 'summary' => 'July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Police, Rajunath Pandey, shared that seven police personnel working on a contract basis have been removed from their jobs while five who are in permanent service have been suspended. They were punished for behaving rudely and inhumanely with street vendors at various times within the metropolitan city. </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"">Though the police personnel were directed not to behave indecently, the city police who acted indecently and inhumanly without following the order and were found to have been in a fault based on complaints from the public, were punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that departmental action has been taken against 12 city policepersons. A training is being organized in order to prevent the recurrence of such acts towards the street vendors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18167', 'image' => '20230712112116_rajuu.jpg', 'article_date' => '2023-07-12 11:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18439', 'article_category_id' => '1', 'title' => 'PM's Spouse, Sita Dahal, No More ', 'sub_title' => '', 'summary' => 'July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. She was 69. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She died at 8.33 am while under treatment at the Norvic International Hospital at Thapathali, said Prof Dr Yubaraj Sharma, PM Dahal's personal physician. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Dahal was suffering from Parkinson's disease since a long time. She was admitted to Norvic Hospital after she developed health complications. Dahal was an advisor to the Maoist Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mortal remains of Sita Dahal will be kept at the party’s central office at Parisdanda, Koteshwar for paying tributes from 11 am to 1.00 pm before being cremated at the Pashupati Aryaghat crematorium at 2.00 pm, PM Dahal's Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18166', 'image' => '20230712011231_1689136615.sita-dahal 1.jpg', 'article_date' => '2023-07-12 13:11:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18435', 'article_category_id' => '1', 'title' => 'Government Forms Probe Committee to Investigate Manang Air Helicopter Crash', 'sub_title' => '', 'summary' => 'Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 12: Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a meeting held at the Office of Prime Minister and Council of Ministers at Singha Durbar on Tuesday, the Council of Ministers expressed deep sorrow over the crash and made the decision to establish the committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ill-fated helicopter, belonging to Manang Air and with the call sign 9 NA-MV, was carrying a total of six individuals at the time of the crash. Among them were five Mexican nationals and a Nepali pilot. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The aircraft had departed from Surke in Solukhumbu and was en route to Kathmandu on Tuesday morning. Unfortunately, it lost communication after 10:01 am and was subsequently discovered crashed in Lamjura Pass of Likhupike rural municipality-5.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Investigation Committee, entrusted with the task of uncovering the causes and circumstances surrounding the crash, will be led by Buddisagar Lamichhane, Joint-Secretary at the Ministry of Culture, Tourism, and Civil Aviation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Communications and Information Technology, Rekha Sharma, also the government's spokesperson, confirmed the formation of the committee and extended heartfelt condolences to all those who lost their lives in the accident.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18165', 'image' => '20230712054133_collage (9).jpg', 'article_date' => '2023-07-12 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18434', 'article_category_id' => '1', 'title' => 'NRB Adopts Strict Measures for Appointing Directors of Payment Service Providers', 'sub_title' => '', 'summary' => 'July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.', 'content' => '<p><span style="font-size:18px">July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.</span></p> <p><span style="font-size:18px">The central bank revised the Permission for Payment Service Provider Policy 2079 in this regard. As per the new provision, a person cannot hold the position of director of two separate companies in the financial sector at the same time.</span></p> <p><span style="font-size:18px">“When the same person is the director of two companies in the financial sector, there is a conflict of interest, so NRB changed the policy and made it stricter,” said an official of NRB.</span></p> <p><span style="font-size:18px">This step was taken after the directors of banks and financial institutions (BFIs) started operating payment service companies.</span></p> <p><span style="font-size:18px">The policy stipulates that a person who is a director or officer of a licensed bank, financial institution, money changer, remittance company, payment service provider, payment system operator cannot hold any position in any other payment related organization at the same time.</span></p> <p><span style="font-size:18px">However, in the case of the investment of the payment-related organization, the employees on behalf of the investor organization are to be represented in the board of directors of the organization in which the investment is made.</span></p> <p><span style="font-size:18px">By mid-May 2023, 10 payment system operators and 27 payment service providers have received permission from NRB. By this period, there are 18.2 million wallet users. From mid-April to mid-May, transactions worth Rs 19.25 billion were made through digital wallets.</span></p> <p><span style="font-size:18px">From utility bill payments to purchasing goods, the use of mobile wallets is increasing in recent times.</span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18164', 'image' => '20230711061009_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-11 18:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18433', 'article_category_id' => '1', 'title' => 'Laxmi Bank and Sunrise Bank to Start Joint Transaction From July 14', 'sub_title' => '', 'summary' => 'Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 11: Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Office of the Company Registrar had granted final approval for the merger on July 9. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Securities Board of Nepal provided approval on July 10. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With the completion of all processes, the joint transaction of the two banks will start in the name of “Laxmi Sunrise Bnak Limited”. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Banking services from all branches will be suspended for data migration and other purposes on July 12 and 13.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The two banks had gone into merger with a swap ration of 1:1. Currently, Laxmi Bank has capital of Rs 11 billion 55 crores, while Sunrise Bank has paid-up capital of Rs10 billion 11 crores.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">After the merger, the total capital will increase to more than Rs 21 billion 66 crores.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18163', 'image' => '20230711034908_collage (8).jpg', 'article_date' => '2023-07-11 15:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18431', 'article_category_id' => '1', 'title' => 'Missing Manang Air Chopper Found Crashed at Solukhumbu-Ramechhap Border ', 'sub_title' => '', 'summary' => 'July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The helicopter of Manang Air with the call sign 9NA-MV en route to Kathmandu from Solukhumbu carrying six people on board including a pilot had gone missing since 10:01 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Solukhumbu, Basanta Bhattarai, said the helicopter was found in a crashed condition. CDO Bhattarai said that the primary information received by them confirmed that the chopper met with an accident at Lamjura pass. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash site lies at the border of Likhupike of Solukhumbu and Umakunda Rural Municipality of Ramechhap. Five bodies have been recovered at the incident site, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A helicopter of Altitude Air from Kathmandu was mobilized to search the missing helicopter and a team of Nepal Police was deputed from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Manang Air, Raju Neupane, said the five passengers are Mexican nationals. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18161', 'image' => '20230711031411_crashh.jpg', 'article_date' => '2023-07-11 15:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18429', 'article_category_id' => '1', 'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year', 'sub_title' => '', 'summary' => 'July 11: The government’s expenditure system is still full of flaws.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18159', 'image' => '20230711024009_1683767264.jpg', 'article_date' => '2023-07-11 14:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18428', 'article_category_id' => '1', 'title' => 'NRNA to Help Develop Skilled Manpower', 'sub_title' => '', 'summary' => 'July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. Organising a press conference at the secretariat of the association in Baluwatar on Sunday, Ganesh KC, the coordinator of the committee and the deputy secretary general of the International Coordination Council of NRNA said that they plan to conduct a skill-based program to meet the growing demand for skilled manpower around the world. KC said that the committee will coordinate with all three levels of government to produce skilled manpower.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRNA President Kul Acharya said that the program to be initiated by the committee will be useful to address the growing demand for skilled manpower in the international labor market and to end the situation where Nepalese people going to different countries have to suffer due to lack of skills. He said, “If you go to a labour destination country without any skill, you have to face a lot of problems. So this program is very important for skill enhancement and efficiency improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee said that the Nepalese youth who are going abroad for any purpose of work, study, profession or professional development will be oriented about the geography, climate, lifestyle, general rules and laws of their destination country, the situation of immigrants, soft skills, etc. Similarly, technical training like cooking, bakery, barista, front office, house-keeping, elderly care, butchery, motor mechanics, spa, hair dressing, beautician, electronics goods repairing, electrician, etc will be given to the aspiring people.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18158', 'image' => '20230711021620_foreign emp.jpg', 'article_date' => '2023-07-11 14:15:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18427', 'article_category_id' => '1', 'title' => 'Police Bust Racket Involved in using Nepali Migrant Workers to Smuggle Gold', 'sub_title' => '12 arrested for smuggling gold from abroad', 'summary' => 'July 11: Police have busted a racket involved in using Nepali migrant workers to smuggle gold into the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: Police have busted a racket involved in using Nepali migrant workers to smuggle gold into the country. A police squad from the Kathmandu Valley Crime Investigation Office arrested 12 people on the charge of smuggling gold from abroad and made them public on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Those arrested are 25-year-old Ramdev Mahara of Mithila Bihari Municipality-5 of Dhanusha, 24-year-old Dharmadev Yadav of Sirha Municipality-17 of Sirha and 23-year-old Dharma Prasad Murau of Suddhodhan Municipality-6 of Kapilvastu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, 34-year-old Naresh Panjiar of Janakpurdham-5 of Dhanusha, 36-year-old Lal Bahadur Wali of Rapti Sonari-5 of Banke, 27-year-old Kisunlal Sahu Teli of Balambihu-2 of Saptari, 35-year-old Vinod Kumar Shah and 22-year-old Asharam Yadav of the same municipality were also arrested by the police and made public during a press conference.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Sanju Kumari Shah, Durga Prasad Yadav and Devanand Shah are among those arrested while collecting gold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Police have also arrested Mohan Kumar Yadav of Siraha in connection with the case. It has been revealed that he was depositing and withdrawing money from Shiva Sundar Raut's account.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The head of Kathmandu Valley Crime Investigation Office and Senior Superintendent of Police Manoj Kumar KC said that Shiva Sunder Raut, the owner of Ritesh General Store in Siraha was involved in bringing illegal gold through immigrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, it has been revealed that Shiva Sundar has been mobilizing people who are employed abroad for a long time to bring illegal gold. Bank details obtained by the police show that his account had transactions worth Rs 1.96 billion since 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The police informed during the press conference that Shiva Sundar Raut was arrested from Siraha, and Vinod Kumar Shah who was operating the Hotel Himalayan Spire in Sinamangal was also arrested by the police.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the police, the smugglers were offered Rs 5,000 to 10,000 or free accommodation in hotels for smuggling the gold. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">SSP KC shared that 828 grams of gold was recovered from five people. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18157', 'image' => '20230711014403_goldee.jpg', 'article_date' => '2023-07-11 13:41:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18426', 'article_category_id' => '1', 'title' => 'Manang Air Helicopter Missing since 10 AM this Morning ', 'sub_title' => '', 'summary' => 'July 11: A helicopter belonging to Manang Air has been reported missing since 10:01 am 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 11: A helicopter belonging to Manang Air has been reported missing since 10:01 am today. The chopper was en route to Kathmandu from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Tribhuvan International Airport (TIA) Spokesperson Teknath Sitaula, the helicopter with the call sign 9NA-MV had taken off from Surkhe of Solukhumbu for Kathamandu carrying six passengers. </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"">"TIA is informed about the chopper losing the contact since it arrived near Lamjura pass. The crew sent its last message saying 'Hello' on Viber from Lamjura pass. The search for the helicopter continues," said Sitaula. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18156', 'image' => '20230711121204_Manang-Air-27-1024x683.jpg', 'article_date' => '2023-07-11 12:10:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18425', 'article_category_id' => '1', 'title' => 'Hetauda-Bharatpur Transmission Line comes into Operation ', 'sub_title' => '', 'summary' => 'July 11: The Hetauda-Bharatpur 220 kV transmission line has come into operation. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The Hetauda-Bharatpur 220 kV transmission line has come into operation. This transmission line is considered important for the smooth supply of power to Makawanpur and Chitwan, among other districts. The Hetauda-Bharatpur section is part of the Hetauda-Bharatpur-Bardaghat Transmission Line Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Electricity Authority (NEA) has brought the 73 kilometres long circuit of 220 kV double-circuit transmission line into operation, charging it in the 132 kV for the time-being. </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"">Around 170 megawatts power can be transmitted to and fro Hetauda and Bharatpur with the operation of the Hetauda-Bharatpur section of the transmission line. Only 90 megawatts power was being transmitted to and from Hetauda and Bharatpur from the existing old 132 kV transmission line. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Hetauda-Bharatpur-Bardaghat Transmission Line Project was set up with the aim of strengthening and making reliable the transmission lines within Nepal and for transmitting the power generated from hydropower projects constructed in the western region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project was initiated in 2008 with the investment of Government of Nepal and NEA, and with concessional loan from the World Bank. Construction works had been started dividing the Project into two sections – Hetauda-Bharatpur and Bharatpur-Bardaghat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the project was affected due to various reasons such as obstruction by the locals, problem in land acquisition, delays related to the use of forest land and cutting down trees and the poor performance of the construction company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the World Bank withdrew from the project in 2021, the government and NEA has been undertaking the remaining works with their joint investment. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18155', 'image' => '20230711111542_Transmission.jpg', 'article_date' => '2023-07-11 11:14:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18423', 'article_category_id' => '1', 'title' => 'Nepali Citizens Spend more Money in Foreign Trips than the Country Earns from Tourists', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px">July 10: Nepali citizens spent over Rs 119.99 billion on foreign travel in the first eleven months of the current fiscal year (FY 2022-23), according to the latest report of Nepal Rastra Bank (NRB).</span></p> <p><span style="font-size:18px">The Current Macroeconomic and Financial Situation Report released by the NRB on Monday shows that the travel expenses of Nepali nationals increased by 37.9 percent to climb to Rs 119.99 billion, including Rs 89.18 billion for education during the eleven months of the current fiscal year.</span></p> <p><span style="font-size:18px">Such expenses were Rs 87.03 billion and Rs 59.99 billion respectively in the same period of the previous year. <br /> Meantime, in the review period, Nepal’s travel income amounted to Rs 58.06 billion following a 94.3 percent rise compared to the corresponding period of last fiscal year. The figure was Rs 29.88 billion last year. </span></p> <p><span style="font-size:18px">It means that Nepalis spend more on foreign visits than the country earns from foreign tourists. The total amount spent by Nepalis for higher education abroad (Rs 89.18 billion) is much more than Rs 58.06 billion which the country generated from tourists. </span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18153', 'image' => '20230711094616_20230710094027_20220717011757_20220426100813_1650929561.Clipboard19.jpg', 'article_date' => '2023-07-11 09:44:14', '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' => '18440', 'article_category_id' => '1', 'title' => 'Construction of Pancheshwar Hydropower Project Remains Uncertain', 'sub_title' => '', 'summary' => 'July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Dahal conveyed the message to the parliament that Nepal and India had agreed to finalize the Detailed Project Report (DPR) of Pancheshwar project within three months and prepare the investment draft within a year. The construction of the Pancheshwar hydropower project has been ongoing since the signing of the Mahakali Treaty almost three decades ago in 2052 BS, without any tangible achievements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that PM’s Dahal's announcement to "complete the DPR within three months and prepare the investment draft within one year" is not likely to happen anytime soon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is concern among the general public that this agreement will expire like the previous agreements, and Pancheshwar project won't move ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the signing of the Mahakali Treaty between the Government of Nepal and the Government of India, it was first decided to implement this project with bilateral investment and operate it jointly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It is said that a total of 6,480 megawatts of electricity will be generated from this reservoir-based hydropower project. The average production is estimated to be 10,671 gigawatt hours per year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2066, in the joint meeting of the Ministry of Water Resources of Nepal and India, it was agreed to establish the Pancheswar Development Authority and complete the DPR and other necessary works to advance the Pancheswar Hydropower Project. Accordingly, the Pancheswar Development Board was also formed. But the board has not done anything significant so far.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the commitment to proceed with the construction of the Pancheshwar Hydropower Project is made time and again but is not implemented, questions have started to arise about the reason for the delay. Hydroelectrician Anup Kumar Upadhyay says strong political commitment from both countries is needed for the construction of the project to go ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"In the case of Pancheshwar, there seems to be a lack of commitment and willingness to build the project from the political level," he said, adding, "Differences in interpreting the Mahakali Treaty and the issue of water distribution is delaying the project."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Radhesh Pant, an expert in the hydropower sector and a former executive officer of the Investment Board, believes that Pancheshwar will be of a great significance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“If Pancheshwar is built, both Nepal and India can benefit. This project will also have a positive impact on the people's lives. Apart from energy, the Pancheshwar hydropower project can have many positive outcomes,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As Pancheswar is a reservoir-based project, it is also possible to collect flood water from the Mahakali River and use it for irrigation during dry season to increase food production. It is said that the dam of the project will be 315 meters high.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Despite many benefits, Pant is not confident that the stalled project will move forward. There seems to be a practice of agreeing and not implementing the project. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18170', 'image' => '20230712020710_1689103845.2023-07-12-1.jpg', 'article_date' => '2023-07-12 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18438', 'article_category_id' => '1', 'title' => 'Daraz to Promote Make in Nepal 'Swadeshi' Campaign of CNI', 'sub_title' => '', 'summary' => 'July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI had launched the Make in Nepal ‘Swadeshi' Campaign from 2021 with the goal of building a self-sufficient economy by increasing domestic industrial production and making Nepali goods and services accessible in the national and international markets.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has been doing policy advocacy, networking and marketing support for industries involved in the Swadeshi campaign, promoting indigenous products, and increasing the workforce.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has reached an understanding with Daraz for assisting in the marketing of goods and services of CNI members. According to the agreement, Daraz will help to display the goods of the members involved in the Make in Nepal Campaign on its online platform and to provide the necessary training and consultations to the CNI members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajesh Kumar Agarwal, president of the CNI, said that this agreement with Daraz would support in marketing and networking of the members affiliated to the Make in Nepal Swadeshi Campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that policy advocacy and other promotional activities will be carried forward to achieve the objectives of the campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Aanchal Kunwar, managing director of Daraz, said that the company’s online platform has been made available for the promotion of domestic products and to encourage the members involved in this campaign.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18169', 'image' => '20230712010536_1689124547.1 CNI_DRAJ_11zon.jpeg', 'article_date' => '2023-07-12 13:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18437', 'article_category_id' => '1', 'title' => 'More and More Entrepreneurs Quitting Business for Foreign Employment ', 'sub_title' => '', 'summary' => 'July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. More and more entrepreneurs are leaving the country for foreign countries after their efforts to revitalize their COVID-dented businesses failed to pay off. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs are finding it hard to pay their staff and rent for the building or land. The number of entrepreneurs leaving the country for overseas has increased in the district in recent months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon observation, one can see that many outlets and shutters in the main trading hub Narayangadh and surrounding markets are either shut or have put up 'On Sale' notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chitwan Chamber of Commerce and Industry President Chun Narayan Shrestha said several businesspersons have closed their businesses and gone abroad. According to him, they went abroad on business visa. Similarly, 12 industrialists and business persons have formally applied for closing their businesses, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The situation is such that it is difficult to either start a new venture or to continue with the existing business due to the economic slowdown and the exorbitant interest rates charged by the banks," Shrestha summed up the current business environment and the reason for entrepreneurs quitting the business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, although this problem is comparatively less in the main market areas, it is severe in new and expanding trade hubs. He said the entrepreneurs and traders are leaving their businesses due to the 'tight' monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shrestha further added, "The big industries and businesses are running for the 'sake of their existence' whereas the smaller businesses have been hit hard and are in vulnerable situation." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even those enterprises that are somehow keeping their businesses afloat have been cutting down on their production and employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chamber of Commerce and Industry, Chitwan, said the enterprises that are in operation have also reduced their production. They are producing only around 40 per cent of their total production capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that among the 4,000 registered members of the Chitwan Chamber of Commerce and Industry that are in operation, most are running in financially weak condition. The automobile sector, poultry sector, manufacturing industries, food industries, construction enterprises, among others, are affected the most by the economic downturn exacerbated by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Industry Association of Chitwan, Trilochan Kandel said till date 30 per cent industries have shut down in Chitwan. He added that this trend is on the rise. </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 him, 30 per cent of the 1,200 members affiliated to the association have closed their businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The trend of industries closing down is increasing while opening new ones is minimal. It appears that the trend of industries closing down will still continue with the increasing bank interest rates and the economic uncertainty," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that with this growing trend of entrepreneurs going abroad by closing their enterprises will result in large number of people losing employment and hundreds of thousands of youths being left with no option but to go for foreign employment, Kandel suggested that the monetary policy of the state should be flexible to stop this trend. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18168', 'image' => '20230712120844_foreign emp.jpg', 'article_date' => '2023-07-12 12:08:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18436', 'article_category_id' => '1', 'title' => 'KMC Police Punished for Behaving Rudely with Street Vendors', 'sub_title' => '', 'summary' => 'July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Police, Rajunath Pandey, shared that seven police personnel working on a contract basis have been removed from their jobs while five who are in permanent service have been suspended. They were punished for behaving rudely and inhumanely with street vendors at various times within the metropolitan city. </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"">Though the police personnel were directed not to behave indecently, the city police who acted indecently and inhumanly without following the order and were found to have been in a fault based on complaints from the public, were punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that departmental action has been taken against 12 city policepersons. A training is being organized in order to prevent the recurrence of such acts towards the street vendors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18167', 'image' => '20230712112116_rajuu.jpg', 'article_date' => '2023-07-12 11:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18439', 'article_category_id' => '1', 'title' => 'PM's Spouse, Sita Dahal, No More ', 'sub_title' => '', 'summary' => 'July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. She was 69. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She died at 8.33 am while under treatment at the Norvic International Hospital at Thapathali, said Prof Dr Yubaraj Sharma, PM Dahal's personal physician. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Dahal was suffering from Parkinson's disease since a long time. She was admitted to Norvic Hospital after she developed health complications. Dahal was an advisor to the Maoist Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mortal remains of Sita Dahal will be kept at the party’s central office at Parisdanda, Koteshwar for paying tributes from 11 am to 1.00 pm before being cremated at the Pashupati Aryaghat crematorium at 2.00 pm, PM Dahal's Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18166', 'image' => '20230712011231_1689136615.sita-dahal 1.jpg', 'article_date' => '2023-07-12 13:11:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18435', 'article_category_id' => '1', 'title' => 'Government Forms Probe Committee to Investigate Manang Air Helicopter Crash', 'sub_title' => '', 'summary' => 'Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 12: Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a meeting held at the Office of Prime Minister and Council of Ministers at Singha Durbar on Tuesday, the Council of Ministers expressed deep sorrow over the crash and made the decision to establish the committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ill-fated helicopter, belonging to Manang Air and with the call sign 9 NA-MV, was carrying a total of six individuals at the time of the crash. Among them were five Mexican nationals and a Nepali pilot. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The aircraft had departed from Surke in Solukhumbu and was en route to Kathmandu on Tuesday morning. Unfortunately, it lost communication after 10:01 am and was subsequently discovered crashed in Lamjura Pass of Likhupike rural municipality-5.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Investigation Committee, entrusted with the task of uncovering the causes and circumstances surrounding the crash, will be led by Buddisagar Lamichhane, Joint-Secretary at the Ministry of Culture, Tourism, and Civil Aviation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Communications and Information Technology, Rekha Sharma, also the government's spokesperson, confirmed the formation of the committee and extended heartfelt condolences to all those who lost their lives in the accident.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18165', 'image' => '20230712054133_collage (9).jpg', 'article_date' => '2023-07-12 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18434', 'article_category_id' => '1', 'title' => 'NRB Adopts Strict Measures for Appointing Directors of Payment Service Providers', 'sub_title' => '', 'summary' => 'July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.', 'content' => '<p><span style="font-size:18px">July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.</span></p> <p><span style="font-size:18px">The central bank revised the Permission for Payment Service Provider Policy 2079 in this regard. As per the new provision, a person cannot hold the position of director of two separate companies in the financial sector at the same time.</span></p> <p><span style="font-size:18px">“When the same person is the director of two companies in the financial sector, there is a conflict of interest, so NRB changed the policy and made it stricter,” said an official of NRB.</span></p> <p><span style="font-size:18px">This step was taken after the directors of banks and financial institutions (BFIs) started operating payment service companies.</span></p> <p><span style="font-size:18px">The policy stipulates that a person who is a director or officer of a licensed bank, financial institution, money changer, remittance company, payment service provider, payment system operator cannot hold any position in any other payment related organization at the same time.</span></p> <p><span style="font-size:18px">However, in the case of the investment of the payment-related organization, the employees on behalf of the investor organization are to be represented in the board of directors of the organization in which the investment is made.</span></p> <p><span style="font-size:18px">By mid-May 2023, 10 payment system operators and 27 payment service providers have received permission from NRB. By this period, there are 18.2 million wallet users. From mid-April to mid-May, transactions worth Rs 19.25 billion were made through digital wallets.</span></p> <p><span style="font-size:18px">From utility bill payments to purchasing goods, the use of mobile wallets is increasing in recent times.</span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18164', 'image' => '20230711061009_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-11 18:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18433', 'article_category_id' => '1', 'title' => 'Laxmi Bank and Sunrise Bank to Start Joint Transaction From July 14', 'sub_title' => '', 'summary' => 'Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 11: Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Office of the Company Registrar had granted final approval for the merger on July 9. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Securities Board of Nepal provided approval on July 10. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With the completion of all processes, the joint transaction of the two banks will start in the name of “Laxmi Sunrise Bnak Limited”. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Banking services from all branches will be suspended for data migration and other purposes on July 12 and 13.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The two banks had gone into merger with a swap ration of 1:1. Currently, Laxmi Bank has capital of Rs 11 billion 55 crores, while Sunrise Bank has paid-up capital of Rs10 billion 11 crores.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">After the merger, the total capital will increase to more than Rs 21 billion 66 crores.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18163', 'image' => '20230711034908_collage (8).jpg', 'article_date' => '2023-07-11 15:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18431', 'article_category_id' => '1', 'title' => 'Missing Manang Air Chopper Found Crashed at Solukhumbu-Ramechhap Border ', 'sub_title' => '', 'summary' => 'July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The helicopter of Manang Air with the call sign 9NA-MV en route to Kathmandu from Solukhumbu carrying six people on board including a pilot had gone missing since 10:01 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Solukhumbu, Basanta Bhattarai, said the helicopter was found in a crashed condition. CDO Bhattarai said that the primary information received by them confirmed that the chopper met with an accident at Lamjura pass. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash site lies at the border of Likhupike of Solukhumbu and Umakunda Rural Municipality of Ramechhap. Five bodies have been recovered at the incident site, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A helicopter of Altitude Air from Kathmandu was mobilized to search the missing helicopter and a team of Nepal Police was deputed from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Manang Air, Raju Neupane, said the five passengers are Mexican nationals. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18161', 'image' => '20230711031411_crashh.jpg', 'article_date' => '2023-07-11 15:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18429', 'article_category_id' => '1', 'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year', 'sub_title' => '', 'summary' => 'July 11: The government’s expenditure system is still full of flaws.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18159', 'image' => '20230711024009_1683767264.jpg', 'article_date' => '2023-07-11 14:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18428', 'article_category_id' => '1', 'title' => 'NRNA to Help Develop Skilled Manpower', 'sub_title' => '', 'summary' => 'July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. Organising a press conference at the secretariat of the association in Baluwatar on Sunday, Ganesh KC, the coordinator of the committee and the deputy secretary general of the International Coordination Council of NRNA said that they plan to conduct a skill-based program to meet the growing demand for skilled manpower around the world. KC said that the committee will coordinate with all three levels of government to produce skilled manpower.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRNA President Kul Acharya said that the program to be initiated by the committee will be useful to address the growing demand for skilled manpower in the international labor market and to end the situation where Nepalese people going to different countries have to suffer due to lack of skills. He said, “If you go to a labour destination country without any skill, you have to face a lot of problems. So this program is very important for skill enhancement and efficiency improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee said that the Nepalese youth who are going abroad for any purpose of work, study, profession or professional development will be oriented about the geography, climate, lifestyle, general rules and laws of their destination country, the situation of immigrants, soft skills, etc. Similarly, technical training like cooking, bakery, barista, front office, house-keeping, elderly care, butchery, motor mechanics, spa, hair dressing, beautician, electronics goods repairing, electrician, etc will be given to the aspiring people.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18158', 'image' => '20230711021620_foreign emp.jpg', 'article_date' => '2023-07-11 14:15:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18427', 'article_category_id' => '1', 'title' => 'Police Bust Racket Involved in using Nepali Migrant Workers to Smuggle Gold', 'sub_title' => '12 arrested for smuggling gold from abroad', 'summary' => 'July 11: Police have busted a racket involved in using Nepali migrant workers to smuggle gold into the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: Police have busted a racket involved in using Nepali migrant workers to smuggle gold into the country. A police squad from the Kathmandu Valley Crime Investigation Office arrested 12 people on the charge of smuggling gold from abroad and made them public on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Those arrested are 25-year-old Ramdev Mahara of Mithila Bihari Municipality-5 of Dhanusha, 24-year-old Dharmadev Yadav of Sirha Municipality-17 of Sirha and 23-year-old Dharma Prasad Murau of Suddhodhan Municipality-6 of Kapilvastu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, 34-year-old Naresh Panjiar of Janakpurdham-5 of Dhanusha, 36-year-old Lal Bahadur Wali of Rapti Sonari-5 of Banke, 27-year-old Kisunlal Sahu Teli of Balambihu-2 of Saptari, 35-year-old Vinod Kumar Shah and 22-year-old Asharam Yadav of the same municipality were also arrested by the police and made public during a press conference.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Sanju Kumari Shah, Durga Prasad Yadav and Devanand Shah are among those arrested while collecting gold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Police have also arrested Mohan Kumar Yadav of Siraha in connection with the case. It has been revealed that he was depositing and withdrawing money from Shiva Sundar Raut's account.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The head of Kathmandu Valley Crime Investigation Office and Senior Superintendent of Police Manoj Kumar KC said that Shiva Sunder Raut, the owner of Ritesh General Store in Siraha was involved in bringing illegal gold through immigrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, it has been revealed that Shiva Sundar has been mobilizing people who are employed abroad for a long time to bring illegal gold. Bank details obtained by the police show that his account had transactions worth Rs 1.96 billion since 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The police informed during the press conference that Shiva Sundar Raut was arrested from Siraha, and Vinod Kumar Shah who was operating the Hotel Himalayan Spire in Sinamangal was also arrested by the police.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the police, the smugglers were offered Rs 5,000 to 10,000 or free accommodation in hotels for smuggling the gold. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">SSP KC shared that 828 grams of gold was recovered from five people. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18157', 'image' => '20230711014403_goldee.jpg', 'article_date' => '2023-07-11 13:41:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18426', 'article_category_id' => '1', 'title' => 'Manang Air Helicopter Missing since 10 AM this Morning ', 'sub_title' => '', 'summary' => 'July 11: A helicopter belonging to Manang Air has been reported missing since 10:01 am 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 11: A helicopter belonging to Manang Air has been reported missing since 10:01 am today. The chopper was en route to Kathmandu from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Tribhuvan International Airport (TIA) Spokesperson Teknath Sitaula, the helicopter with the call sign 9NA-MV had taken off from Surkhe of Solukhumbu for Kathamandu carrying six passengers. </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"">"TIA is informed about the chopper losing the contact since it arrived near Lamjura pass. The crew sent its last message saying 'Hello' on Viber from Lamjura pass. The search for the helicopter continues," said Sitaula. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18156', 'image' => '20230711121204_Manang-Air-27-1024x683.jpg', 'article_date' => '2023-07-11 12:10:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18425', 'article_category_id' => '1', 'title' => 'Hetauda-Bharatpur Transmission Line comes into Operation ', 'sub_title' => '', 'summary' => 'July 11: The Hetauda-Bharatpur 220 kV transmission line has come into operation. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The Hetauda-Bharatpur 220 kV transmission line has come into operation. This transmission line is considered important for the smooth supply of power to Makawanpur and Chitwan, among other districts. The Hetauda-Bharatpur section is part of the Hetauda-Bharatpur-Bardaghat Transmission Line Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Electricity Authority (NEA) has brought the 73 kilometres long circuit of 220 kV double-circuit transmission line into operation, charging it in the 132 kV for the time-being. </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"">Around 170 megawatts power can be transmitted to and fro Hetauda and Bharatpur with the operation of the Hetauda-Bharatpur section of the transmission line. Only 90 megawatts power was being transmitted to and from Hetauda and Bharatpur from the existing old 132 kV transmission line. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Hetauda-Bharatpur-Bardaghat Transmission Line Project was set up with the aim of strengthening and making reliable the transmission lines within Nepal and for transmitting the power generated from hydropower projects constructed in the western region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project was initiated in 2008 with the investment of Government of Nepal and NEA, and with concessional loan from the World Bank. Construction works had been started dividing the Project into two sections – Hetauda-Bharatpur and Bharatpur-Bardaghat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the project was affected due to various reasons such as obstruction by the locals, problem in land acquisition, delays related to the use of forest land and cutting down trees and the poor performance of the construction company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the World Bank withdrew from the project in 2021, the government and NEA has been undertaking the remaining works with their joint investment. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18155', 'image' => '20230711111542_Transmission.jpg', 'article_date' => '2023-07-11 11:14:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18423', 'article_category_id' => '1', 'title' => 'Nepali Citizens Spend more Money in Foreign Trips than the Country Earns from Tourists', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px">July 10: Nepali citizens spent over Rs 119.99 billion on foreign travel in the first eleven months of the current fiscal year (FY 2022-23), according to the latest report of Nepal Rastra Bank (NRB).</span></p> <p><span style="font-size:18px">The Current Macroeconomic and Financial Situation Report released by the NRB on Monday shows that the travel expenses of Nepali nationals increased by 37.9 percent to climb to Rs 119.99 billion, including Rs 89.18 billion for education during the eleven months of the current fiscal year.</span></p> <p><span style="font-size:18px">Such expenses were Rs 87.03 billion and Rs 59.99 billion respectively in the same period of the previous year. <br /> Meantime, in the review period, Nepal’s travel income amounted to Rs 58.06 billion following a 94.3 percent rise compared to the corresponding period of last fiscal year. The figure was Rs 29.88 billion last year. </span></p> <p><span style="font-size:18px">It means that Nepalis spend more on foreign visits than the country earns from foreign tourists. The total amount spent by Nepalis for higher education abroad (Rs 89.18 billion) is much more than Rs 58.06 billion which the country generated from tourists. </span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18153', 'image' => '20230711094616_20230710094027_20220717011757_20220426100813_1650929561.Clipboard19.jpg', 'article_date' => '2023-07-11 09:44:14', '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' => '18440', 'article_category_id' => '1', 'title' => 'Construction of Pancheshwar Hydropower Project Remains Uncertain', 'sub_title' => '', 'summary' => 'July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Dahal conveyed the message to the parliament that Nepal and India had agreed to finalize the Detailed Project Report (DPR) of Pancheshwar project within three months and prepare the investment draft within a year. The construction of the Pancheshwar hydropower project has been ongoing since the signing of the Mahakali Treaty almost three decades ago in 2052 BS, without any tangible achievements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that PM’s Dahal's announcement to "complete the DPR within three months and prepare the investment draft within one year" is not likely to happen anytime soon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is concern among the general public that this agreement will expire like the previous agreements, and Pancheshwar project won't move ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the signing of the Mahakali Treaty between the Government of Nepal and the Government of India, it was first decided to implement this project with bilateral investment and operate it jointly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It is said that a total of 6,480 megawatts of electricity will be generated from this reservoir-based hydropower project. The average production is estimated to be 10,671 gigawatt hours per year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2066, in the joint meeting of the Ministry of Water Resources of Nepal and India, it was agreed to establish the Pancheswar Development Authority and complete the DPR and other necessary works to advance the Pancheswar Hydropower Project. Accordingly, the Pancheswar Development Board was also formed. But the board has not done anything significant so far.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the commitment to proceed with the construction of the Pancheshwar Hydropower Project is made time and again but is not implemented, questions have started to arise about the reason for the delay. Hydroelectrician Anup Kumar Upadhyay says strong political commitment from both countries is needed for the construction of the project to go ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"In the case of Pancheshwar, there seems to be a lack of commitment and willingness to build the project from the political level," he said, adding, "Differences in interpreting the Mahakali Treaty and the issue of water distribution is delaying the project."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Radhesh Pant, an expert in the hydropower sector and a former executive officer of the Investment Board, believes that Pancheshwar will be of a great significance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“If Pancheshwar is built, both Nepal and India can benefit. This project will also have a positive impact on the people's lives. Apart from energy, the Pancheshwar hydropower project can have many positive outcomes,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As Pancheswar is a reservoir-based project, it is also possible to collect flood water from the Mahakali River and use it for irrigation during dry season to increase food production. It is said that the dam of the project will be 315 meters high.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Despite many benefits, Pant is not confident that the stalled project will move forward. There seems to be a practice of agreeing and not implementing the project. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18170', 'image' => '20230712020710_1689103845.2023-07-12-1.jpg', 'article_date' => '2023-07-12 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18438', 'article_category_id' => '1', 'title' => 'Daraz to Promote Make in Nepal 'Swadeshi' Campaign of CNI', 'sub_title' => '', 'summary' => 'July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI had launched the Make in Nepal ‘Swadeshi' Campaign from 2021 with the goal of building a self-sufficient economy by increasing domestic industrial production and making Nepali goods and services accessible in the national and international markets.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has been doing policy advocacy, networking and marketing support for industries involved in the Swadeshi campaign, promoting indigenous products, and increasing the workforce.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has reached an understanding with Daraz for assisting in the marketing of goods and services of CNI members. According to the agreement, Daraz will help to display the goods of the members involved in the Make in Nepal Campaign on its online platform and to provide the necessary training and consultations to the CNI members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajesh Kumar Agarwal, president of the CNI, said that this agreement with Daraz would support in marketing and networking of the members affiliated to the Make in Nepal Swadeshi Campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that policy advocacy and other promotional activities will be carried forward to achieve the objectives of the campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Aanchal Kunwar, managing director of Daraz, said that the company’s online platform has been made available for the promotion of domestic products and to encourage the members involved in this campaign.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18169', 'image' => '20230712010536_1689124547.1 CNI_DRAJ_11zon.jpeg', 'article_date' => '2023-07-12 13:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18437', 'article_category_id' => '1', 'title' => 'More and More Entrepreneurs Quitting Business for Foreign Employment ', 'sub_title' => '', 'summary' => 'July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. More and more entrepreneurs are leaving the country for foreign countries after their efforts to revitalize their COVID-dented businesses failed to pay off. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs are finding it hard to pay their staff and rent for the building or land. The number of entrepreneurs leaving the country for overseas has increased in the district in recent months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon observation, one can see that many outlets and shutters in the main trading hub Narayangadh and surrounding markets are either shut or have put up 'On Sale' notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chitwan Chamber of Commerce and Industry President Chun Narayan Shrestha said several businesspersons have closed their businesses and gone abroad. According to him, they went abroad on business visa. Similarly, 12 industrialists and business persons have formally applied for closing their businesses, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The situation is such that it is difficult to either start a new venture or to continue with the existing business due to the economic slowdown and the exorbitant interest rates charged by the banks," Shrestha summed up the current business environment and the reason for entrepreneurs quitting the business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, although this problem is comparatively less in the main market areas, it is severe in new and expanding trade hubs. He said the entrepreneurs and traders are leaving their businesses due to the 'tight' monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shrestha further added, "The big industries and businesses are running for the 'sake of their existence' whereas the smaller businesses have been hit hard and are in vulnerable situation." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even those enterprises that are somehow keeping their businesses afloat have been cutting down on their production and employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chamber of Commerce and Industry, Chitwan, said the enterprises that are in operation have also reduced their production. They are producing only around 40 per cent of their total production capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that among the 4,000 registered members of the Chitwan Chamber of Commerce and Industry that are in operation, most are running in financially weak condition. The automobile sector, poultry sector, manufacturing industries, food industries, construction enterprises, among others, are affected the most by the economic downturn exacerbated by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Industry Association of Chitwan, Trilochan Kandel said till date 30 per cent industries have shut down in Chitwan. He added that this trend is on the rise. </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 him, 30 per cent of the 1,200 members affiliated to the association have closed their businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The trend of industries closing down is increasing while opening new ones is minimal. It appears that the trend of industries closing down will still continue with the increasing bank interest rates and the economic uncertainty," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that with this growing trend of entrepreneurs going abroad by closing their enterprises will result in large number of people losing employment and hundreds of thousands of youths being left with no option but to go for foreign employment, Kandel suggested that the monetary policy of the state should be flexible to stop this trend. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18168', 'image' => '20230712120844_foreign emp.jpg', 'article_date' => '2023-07-12 12:08:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18436', 'article_category_id' => '1', 'title' => 'KMC Police Punished for Behaving Rudely with Street Vendors', 'sub_title' => '', 'summary' => 'July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Police, Rajunath Pandey, shared that seven police personnel working on a contract basis have been removed from their jobs while five who are in permanent service have been suspended. They were punished for behaving rudely and inhumanely with street vendors at various times within the metropolitan city. </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"">Though the police personnel were directed not to behave indecently, the city police who acted indecently and inhumanly without following the order and were found to have been in a fault based on complaints from the public, were punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that departmental action has been taken against 12 city policepersons. A training is being organized in order to prevent the recurrence of such acts towards the street vendors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18167', 'image' => '20230712112116_rajuu.jpg', 'article_date' => '2023-07-12 11:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18439', 'article_category_id' => '1', 'title' => 'PM's Spouse, Sita Dahal, No More ', 'sub_title' => '', 'summary' => 'July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. She was 69. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She died at 8.33 am while under treatment at the Norvic International Hospital at Thapathali, said Prof Dr Yubaraj Sharma, PM Dahal's personal physician. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Dahal was suffering from Parkinson's disease since a long time. She was admitted to Norvic Hospital after she developed health complications. Dahal was an advisor to the Maoist Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mortal remains of Sita Dahal will be kept at the party’s central office at Parisdanda, Koteshwar for paying tributes from 11 am to 1.00 pm before being cremated at the Pashupati Aryaghat crematorium at 2.00 pm, PM Dahal's Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18166', 'image' => '20230712011231_1689136615.sita-dahal 1.jpg', 'article_date' => '2023-07-12 13:11:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18435', 'article_category_id' => '1', 'title' => 'Government Forms Probe Committee to Investigate Manang Air Helicopter Crash', 'sub_title' => '', 'summary' => 'Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 12: Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a meeting held at the Office of Prime Minister and Council of Ministers at Singha Durbar on Tuesday, the Council of Ministers expressed deep sorrow over the crash and made the decision to establish the committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ill-fated helicopter, belonging to Manang Air and with the call sign 9 NA-MV, was carrying a total of six individuals at the time of the crash. Among them were five Mexican nationals and a Nepali pilot. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The aircraft had departed from Surke in Solukhumbu and was en route to Kathmandu on Tuesday morning. Unfortunately, it lost communication after 10:01 am and was subsequently discovered crashed in Lamjura Pass of Likhupike rural municipality-5.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Investigation Committee, entrusted with the task of uncovering the causes and circumstances surrounding the crash, will be led by Buddisagar Lamichhane, Joint-Secretary at the Ministry of Culture, Tourism, and Civil Aviation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Communications and Information Technology, Rekha Sharma, also the government's spokesperson, confirmed the formation of the committee and extended heartfelt condolences to all those who lost their lives in the accident.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18165', 'image' => '20230712054133_collage (9).jpg', 'article_date' => '2023-07-12 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18434', 'article_category_id' => '1', 'title' => 'NRB Adopts Strict Measures for Appointing Directors of Payment Service Providers', 'sub_title' => '', 'summary' => 'July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.', 'content' => '<p><span style="font-size:18px">July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.</span></p> <p><span style="font-size:18px">The central bank revised the Permission for Payment Service Provider Policy 2079 in this regard. As per the new provision, a person cannot hold the position of director of two separate companies in the financial sector at the same time.</span></p> <p><span style="font-size:18px">“When the same person is the director of two companies in the financial sector, there is a conflict of interest, so NRB changed the policy and made it stricter,” said an official of NRB.</span></p> <p><span style="font-size:18px">This step was taken after the directors of banks and financial institutions (BFIs) started operating payment service companies.</span></p> <p><span style="font-size:18px">The policy stipulates that a person who is a director or officer of a licensed bank, financial institution, money changer, remittance company, payment service provider, payment system operator cannot hold any position in any other payment related organization at the same time.</span></p> <p><span style="font-size:18px">However, in the case of the investment of the payment-related organization, the employees on behalf of the investor organization are to be represented in the board of directors of the organization in which the investment is made.</span></p> <p><span style="font-size:18px">By mid-May 2023, 10 payment system operators and 27 payment service providers have received permission from NRB. By this period, there are 18.2 million wallet users. From mid-April to mid-May, transactions worth Rs 19.25 billion were made through digital wallets.</span></p> <p><span style="font-size:18px">From utility bill payments to purchasing goods, the use of mobile wallets is increasing in recent times.</span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18164', 'image' => '20230711061009_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-11 18:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18433', 'article_category_id' => '1', 'title' => 'Laxmi Bank and Sunrise Bank to Start Joint Transaction From July 14', 'sub_title' => '', 'summary' => 'Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 11: Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Office of the Company Registrar had granted final approval for the merger on July 9. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Securities Board of Nepal provided approval on July 10. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With the completion of all processes, the joint transaction of the two banks will start in the name of “Laxmi Sunrise Bnak Limited”. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Banking services from all branches will be suspended for data migration and other purposes on July 12 and 13.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The two banks had gone into merger with a swap ration of 1:1. Currently, Laxmi Bank has capital of Rs 11 billion 55 crores, while Sunrise Bank has paid-up capital of Rs10 billion 11 crores.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">After the merger, the total capital will increase to more than Rs 21 billion 66 crores.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18163', 'image' => '20230711034908_collage (8).jpg', 'article_date' => '2023-07-11 15:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18431', 'article_category_id' => '1', 'title' => 'Missing Manang Air Chopper Found Crashed at Solukhumbu-Ramechhap Border ', 'sub_title' => '', 'summary' => 'July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The helicopter of Manang Air with the call sign 9NA-MV en route to Kathmandu from Solukhumbu carrying six people on board including a pilot had gone missing since 10:01 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Solukhumbu, Basanta Bhattarai, said the helicopter was found in a crashed condition. CDO Bhattarai said that the primary information received by them confirmed that the chopper met with an accident at Lamjura pass. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash site lies at the border of Likhupike of Solukhumbu and Umakunda Rural Municipality of Ramechhap. Five bodies have been recovered at the incident site, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A helicopter of Altitude Air from Kathmandu was mobilized to search the missing helicopter and a team of Nepal Police was deputed from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Manang Air, Raju Neupane, said the five passengers are Mexican nationals. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18161', 'image' => '20230711031411_crashh.jpg', 'article_date' => '2023-07-11 15:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18429', 'article_category_id' => '1', 'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year', 'sub_title' => '', 'summary' => 'July 11: The government’s expenditure system is still full of flaws.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18159', 'image' => '20230711024009_1683767264.jpg', 'article_date' => '2023-07-11 14:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18428', 'article_category_id' => '1', 'title' => 'NRNA to Help Develop Skilled Manpower', 'sub_title' => '', 'summary' => 'July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. Organising a press conference at the secretariat of the association in Baluwatar on Sunday, Ganesh KC, the coordinator of the committee and the deputy secretary general of the International Coordination Council of NRNA said that they plan to conduct a skill-based program to meet the growing demand for skilled manpower around the world. KC said that the committee will coordinate with all three levels of government to produce skilled manpower.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRNA President Kul Acharya said that the program to be initiated by the committee will be useful to address the growing demand for skilled manpower in the international labor market and to end the situation where Nepalese people going to different countries have to suffer due to lack of skills. He said, “If you go to a labour destination country without any skill, you have to face a lot of problems. So this program is very important for skill enhancement and efficiency improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee said that the Nepalese youth who are going abroad for any purpose of work, study, profession or professional development will be oriented about the geography, climate, lifestyle, general rules and laws of their destination country, the situation of immigrants, soft skills, etc. Similarly, technical training like cooking, bakery, barista, front office, house-keeping, elderly care, butchery, motor mechanics, spa, hair dressing, beautician, electronics goods repairing, electrician, etc will be given to the aspiring people.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18158', 'image' => '20230711021620_foreign emp.jpg', 'article_date' => '2023-07-11 14:15:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18427', 'article_category_id' => '1', 'title' => 'Police Bust Racket Involved in using Nepali Migrant Workers to Smuggle Gold', 'sub_title' => '12 arrested for smuggling gold from abroad', 'summary' => 'July 11: Police have busted a racket involved in using Nepali migrant workers to smuggle gold into the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: Police have busted a racket involved in using Nepali migrant workers to smuggle gold into the country. A police squad from the Kathmandu Valley Crime Investigation Office arrested 12 people on the charge of smuggling gold from abroad and made them public on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Those arrested are 25-year-old Ramdev Mahara of Mithila Bihari Municipality-5 of Dhanusha, 24-year-old Dharmadev Yadav of Sirha Municipality-17 of Sirha and 23-year-old Dharma Prasad Murau of Suddhodhan Municipality-6 of Kapilvastu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, 34-year-old Naresh Panjiar of Janakpurdham-5 of Dhanusha, 36-year-old Lal Bahadur Wali of Rapti Sonari-5 of Banke, 27-year-old Kisunlal Sahu Teli of Balambihu-2 of Saptari, 35-year-old Vinod Kumar Shah and 22-year-old Asharam Yadav of the same municipality were also arrested by the police and made public during a press conference.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Sanju Kumari Shah, Durga Prasad Yadav and Devanand Shah are among those arrested while collecting gold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Police have also arrested Mohan Kumar Yadav of Siraha in connection with the case. It has been revealed that he was depositing and withdrawing money from Shiva Sundar Raut's account.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The head of Kathmandu Valley Crime Investigation Office and Senior Superintendent of Police Manoj Kumar KC said that Shiva Sunder Raut, the owner of Ritesh General Store in Siraha was involved in bringing illegal gold through immigrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, it has been revealed that Shiva Sundar has been mobilizing people who are employed abroad for a long time to bring illegal gold. Bank details obtained by the police show that his account had transactions worth Rs 1.96 billion since 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The police informed during the press conference that Shiva Sundar Raut was arrested from Siraha, and Vinod Kumar Shah who was operating the Hotel Himalayan Spire in Sinamangal was also arrested by the police.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the police, the smugglers were offered Rs 5,000 to 10,000 or free accommodation in hotels for smuggling the gold. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">SSP KC shared that 828 grams of gold was recovered from five people. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18157', 'image' => '20230711014403_goldee.jpg', 'article_date' => '2023-07-11 13:41:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18426', 'article_category_id' => '1', 'title' => 'Manang Air Helicopter Missing since 10 AM this Morning ', 'sub_title' => '', 'summary' => 'July 11: A helicopter belonging to Manang Air has been reported missing since 10:01 am 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 11: A helicopter belonging to Manang Air has been reported missing since 10:01 am today. The chopper was en route to Kathmandu from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Tribhuvan International Airport (TIA) Spokesperson Teknath Sitaula, the helicopter with the call sign 9NA-MV had taken off from Surkhe of Solukhumbu for Kathamandu carrying six passengers. </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"">"TIA is informed about the chopper losing the contact since it arrived near Lamjura pass. The crew sent its last message saying 'Hello' on Viber from Lamjura pass. The search for the helicopter continues," said Sitaula. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18156', 'image' => '20230711121204_Manang-Air-27-1024x683.jpg', 'article_date' => '2023-07-11 12:10:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18425', 'article_category_id' => '1', 'title' => 'Hetauda-Bharatpur Transmission Line comes into Operation ', 'sub_title' => '', 'summary' => 'July 11: The Hetauda-Bharatpur 220 kV transmission line has come into operation. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The Hetauda-Bharatpur 220 kV transmission line has come into operation. This transmission line is considered important for the smooth supply of power to Makawanpur and Chitwan, among other districts. The Hetauda-Bharatpur section is part of the Hetauda-Bharatpur-Bardaghat Transmission Line Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Electricity Authority (NEA) has brought the 73 kilometres long circuit of 220 kV double-circuit transmission line into operation, charging it in the 132 kV for the time-being. </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"">Around 170 megawatts power can be transmitted to and fro Hetauda and Bharatpur with the operation of the Hetauda-Bharatpur section of the transmission line. Only 90 megawatts power was being transmitted to and from Hetauda and Bharatpur from the existing old 132 kV transmission line. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Hetauda-Bharatpur-Bardaghat Transmission Line Project was set up with the aim of strengthening and making reliable the transmission lines within Nepal and for transmitting the power generated from hydropower projects constructed in the western region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project was initiated in 2008 with the investment of Government of Nepal and NEA, and with concessional loan from the World Bank. Construction works had been started dividing the Project into two sections – Hetauda-Bharatpur and Bharatpur-Bardaghat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the project was affected due to various reasons such as obstruction by the locals, problem in land acquisition, delays related to the use of forest land and cutting down trees and the poor performance of the construction company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the World Bank withdrew from the project in 2021, the government and NEA has been undertaking the remaining works with their joint investment. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18155', 'image' => '20230711111542_Transmission.jpg', 'article_date' => '2023-07-11 11:14:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18423', 'article_category_id' => '1', 'title' => 'Nepali Citizens Spend more Money in Foreign Trips than the Country Earns from Tourists', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px">July 10: Nepali citizens spent over Rs 119.99 billion on foreign travel in the first eleven months of the current fiscal year (FY 2022-23), according to the latest report of Nepal Rastra Bank (NRB).</span></p> <p><span style="font-size:18px">The Current Macroeconomic and Financial Situation Report released by the NRB on Monday shows that the travel expenses of Nepali nationals increased by 37.9 percent to climb to Rs 119.99 billion, including Rs 89.18 billion for education during the eleven months of the current fiscal year.</span></p> <p><span style="font-size:18px">Such expenses were Rs 87.03 billion and Rs 59.99 billion respectively in the same period of the previous year. <br /> Meantime, in the review period, Nepal’s travel income amounted to Rs 58.06 billion following a 94.3 percent rise compared to the corresponding period of last fiscal year. The figure was Rs 29.88 billion last year. </span></p> <p><span style="font-size:18px">It means that Nepalis spend more on foreign visits than the country earns from foreign tourists. The total amount spent by Nepalis for higher education abroad (Rs 89.18 billion) is much more than Rs 58.06 billion which the country generated from tourists. </span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18153', 'image' => '20230711094616_20230710094027_20220717011757_20220426100813_1650929561.Clipboard19.jpg', 'article_date' => '2023-07-11 09:44:14', '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' => '18440', 'article_category_id' => '1', 'title' => 'Construction of Pancheshwar Hydropower Project Remains Uncertain', 'sub_title' => '', 'summary' => 'July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">July 12: Prime Minister Pushpa Kamal Dahal after his recent state visit to India, had said that the Indian side had agreed to go ahead with the Pancheshwar hydropower project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Dahal conveyed the message to the parliament that Nepal and India had agreed to finalize the Detailed Project Report (DPR) of Pancheshwar project within three months and prepare the investment draft within a year. The construction of the Pancheshwar hydropower project has been ongoing since the signing of the Mahakali Treaty almost three decades ago in 2052 BS, without any tangible achievements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that PM’s Dahal's announcement to "complete the DPR within three months and prepare the investment draft within one year" is not likely to happen anytime soon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is concern among the general public that this agreement will expire like the previous agreements, and Pancheshwar project won't move ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">After the signing of the Mahakali Treaty between the Government of Nepal and the Government of India, it was first decided to implement this project with bilateral investment and operate it jointly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It is said that a total of 6,480 megawatts of electricity will be generated from this reservoir-based hydropower project. The average production is estimated to be 10,671 gigawatt hours per year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2066, in the joint meeting of the Ministry of Water Resources of Nepal and India, it was agreed to establish the Pancheswar Development Authority and complete the DPR and other necessary works to advance the Pancheswar Hydropower Project. Accordingly, the Pancheswar Development Board was also formed. But the board has not done anything significant so far.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the commitment to proceed with the construction of the Pancheshwar Hydropower Project is made time and again but is not implemented, questions have started to arise about the reason for the delay. Hydroelectrician Anup Kumar Upadhyay says strong political commitment from both countries is needed for the construction of the project to go ahead.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"In the case of Pancheshwar, there seems to be a lack of commitment and willingness to build the project from the political level," he said, adding, "Differences in interpreting the Mahakali Treaty and the issue of water distribution is delaying the project."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Radhesh Pant, an expert in the hydropower sector and a former executive officer of the Investment Board, believes that Pancheshwar will be of a great significance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“If Pancheshwar is built, both Nepal and India can benefit. This project will also have a positive impact on the people's lives. Apart from energy, the Pancheshwar hydropower project can have many positive outcomes,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As Pancheswar is a reservoir-based project, it is also possible to collect flood water from the Mahakali River and use it for irrigation during dry season to increase food production. It is said that the dam of the project will be 315 meters high.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Despite many benefits, Pant is not confident that the stalled project will move forward. There seems to be a practice of agreeing and not implementing the project. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18170', 'image' => '20230712020710_1689103845.2023-07-12-1.jpg', 'article_date' => '2023-07-12 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18438', 'article_category_id' => '1', 'title' => 'Daraz to Promote Make in Nepal 'Swadeshi' Campaign of CNI', 'sub_title' => '', 'summary' => 'July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 12: Online shopping platform Daraz has reached an agreement with the Confederation of Nepalese Industry (CNI) to promote the products of the members of CNI involved in the Make in Nepal 'Swadeshi' Campaign.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI had launched the Make in Nepal ‘Swadeshi' Campaign from 2021 with the goal of building a self-sufficient economy by increasing domestic industrial production and making Nepali goods and services accessible in the national and international markets.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has been doing policy advocacy, networking and marketing support for industries involved in the Swadeshi campaign, promoting indigenous products, and increasing the workforce.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The CNI has reached an understanding with Daraz for assisting in the marketing of goods and services of CNI members. According to the agreement, Daraz will help to display the goods of the members involved in the Make in Nepal Campaign on its online platform and to provide the necessary training and consultations to the CNI members.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajesh Kumar Agarwal, president of the CNI, said that this agreement with Daraz would support in marketing and networking of the members affiliated to the Make in Nepal Swadeshi Campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that policy advocacy and other promotional activities will be carried forward to achieve the objectives of the campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Aanchal Kunwar, managing director of Daraz, said that the company’s online platform has been made available for the promotion of domestic products and to encourage the members involved in this campaign.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18169', 'image' => '20230712010536_1689124547.1 CNI_DRAJ_11zon.jpeg', 'article_date' => '2023-07-12 13:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18437', 'article_category_id' => '1', 'title' => 'More and More Entrepreneurs Quitting Business for Foreign Employment ', 'sub_title' => '', 'summary' => 'July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Industrialists and business persons in Chitwan district are found quitting their businesses and leaving for foreign employment due to the economic slump brought by COVID-19. More and more entrepreneurs are leaving the country for foreign countries after their efforts to revitalize their COVID-dented businesses failed to pay off. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs are finding it hard to pay their staff and rent for the building or land. The number of entrepreneurs leaving the country for overseas has increased in the district in recent months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon observation, one can see that many outlets and shutters in the main trading hub Narayangadh and surrounding markets are either shut or have put up 'On Sale' notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chitwan Chamber of Commerce and Industry President Chun Narayan Shrestha said several businesspersons have closed their businesses and gone abroad. According to him, they went abroad on business visa. Similarly, 12 industrialists and business persons have formally applied for closing their businesses, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The situation is such that it is difficult to either start a new venture or to continue with the existing business due to the economic slowdown and the exorbitant interest rates charged by the banks," Shrestha summed up the current business environment and the reason for entrepreneurs quitting the business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, although this problem is comparatively less in the main market areas, it is severe in new and expanding trade hubs. He said the entrepreneurs and traders are leaving their businesses due to the 'tight' monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shrestha further added, "The big industries and businesses are running for the 'sake of their existence' whereas the smaller businesses have been hit hard and are in vulnerable situation." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even those enterprises that are somehow keeping their businesses afloat have been cutting down on their production and employees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chamber of Commerce and Industry, Chitwan, said the enterprises that are in operation have also reduced their production. They are producing only around 40 per cent of their total production capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that among the 4,000 registered members of the Chitwan Chamber of Commerce and Industry that are in operation, most are running in financially weak condition. The automobile sector, poultry sector, manufacturing industries, food industries, construction enterprises, among others, are affected the most by the economic downturn exacerbated by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Industry Association of Chitwan, Trilochan Kandel said till date 30 per cent industries have shut down in Chitwan. He added that this trend is on the rise. </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 him, 30 per cent of the 1,200 members affiliated to the association have closed their businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The trend of industries closing down is increasing while opening new ones is minimal. It appears that the trend of industries closing down will still continue with the increasing bank interest rates and the economic uncertainty," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that with this growing trend of entrepreneurs going abroad by closing their enterprises will result in large number of people losing employment and hundreds of thousands of youths being left with no option but to go for foreign employment, Kandel suggested that the monetary policy of the state should be flexible to stop this trend. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18168', 'image' => '20230712120844_foreign emp.jpg', 'article_date' => '2023-07-12 12:08:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18436', 'article_category_id' => '1', 'title' => 'KMC Police Punished for Behaving Rudely with Street Vendors', 'sub_title' => '', 'summary' => 'July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: The municipal police of the Kathmandu Metropolitan City (KMC) has taken action against the city police personnel who behaved rudely and inhumanely with the street vendors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of KMC Police, Rajunath Pandey, shared that seven police personnel working on a contract basis have been removed from their jobs while five who are in permanent service have been suspended. They were punished for behaving rudely and inhumanely with street vendors at various times within the metropolitan city. </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"">Though the police personnel were directed not to behave indecently, the city police who acted indecently and inhumanly without following the order and were found to have been in a fault based on complaints from the public, were punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pandey said that departmental action has been taken against 12 city policepersons. A training is being organized in order to prevent the recurrence of such acts towards the street vendors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18167', 'image' => '20230712112116_rajuu.jpg', 'article_date' => '2023-07-12 11:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18439', 'article_category_id' => '1', 'title' => 'PM's Spouse, Sita Dahal, No More ', 'sub_title' => '', 'summary' => 'July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 12: Sita Dahal, spouse of CPN (Maoist Centre) Chair and Prime Minister Pushpa Kamal Dahal, passed away on Wednesday morning. She was 69. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She died at 8.33 am while under treatment at the Norvic International Hospital at Thapathali, said Prof Dr Yubaraj Sharma, PM Dahal's personal physician. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Dahal was suffering from Parkinson's disease since a long time. She was admitted to Norvic Hospital after she developed health complications. Dahal was an advisor to the Maoist Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mortal remains of Sita Dahal will be kept at the party’s central office at Parisdanda, Koteshwar for paying tributes from 11 am to 1.00 pm before being cremated at the Pashupati Aryaghat crematorium at 2.00 pm, PM Dahal's Secretariat stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18166', 'image' => '20230712011231_1689136615.sita-dahal 1.jpg', 'article_date' => '2023-07-12 13:11:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18435', 'article_category_id' => '1', 'title' => 'Government Forms Probe Committee to Investigate Manang Air Helicopter Crash', 'sub_title' => '', 'summary' => 'Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 12: Following the tragic helicopter crash that occurred on Tuesday in Solukhumbu district, the government has formed a probe committee to investigate the incident. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During a meeting held at the Office of Prime Minister and Council of Ministers at Singha Durbar on Tuesday, the Council of Ministers expressed deep sorrow over the crash and made the decision to establish the committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The ill-fated helicopter, belonging to Manang Air and with the call sign 9 NA-MV, was carrying a total of six individuals at the time of the crash. Among them were five Mexican nationals and a Nepali pilot. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The aircraft had departed from Surke in Solukhumbu and was en route to Kathmandu on Tuesday morning. Unfortunately, it lost communication after 10:01 am and was subsequently discovered crashed in Lamjura Pass of Likhupike rural municipality-5.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Investigation Committee, entrusted with the task of uncovering the causes and circumstances surrounding the crash, will be led by Buddisagar Lamichhane, Joint-Secretary at the Ministry of Culture, Tourism, and Civil Aviation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister for Communications and Information Technology, Rekha Sharma, also the government's spokesperson, confirmed the formation of the committee and extended heartfelt condolences to all those who lost their lives in the accident.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-12', 'modified' => '2023-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '18165', 'image' => '20230712054133_collage (9).jpg', 'article_date' => '2023-07-12 05:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18434', 'article_category_id' => '1', 'title' => 'NRB Adopts Strict Measures for Appointing Directors of Payment Service Providers', 'sub_title' => '', 'summary' => 'July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.', 'content' => '<p><span style="font-size:18px">July 11: Nepal Rastra Bank (NRB) has adopted a strict policy for appointing directors of payment service provider companies.</span></p> <p><span style="font-size:18px">The central bank revised the Permission for Payment Service Provider Policy 2079 in this regard. As per the new provision, a person cannot hold the position of director of two separate companies in the financial sector at the same time.</span></p> <p><span style="font-size:18px">“When the same person is the director of two companies in the financial sector, there is a conflict of interest, so NRB changed the policy and made it stricter,” said an official of NRB.</span></p> <p><span style="font-size:18px">This step was taken after the directors of banks and financial institutions (BFIs) started operating payment service companies.</span></p> <p><span style="font-size:18px">The policy stipulates that a person who is a director or officer of a licensed bank, financial institution, money changer, remittance company, payment service provider, payment system operator cannot hold any position in any other payment related organization at the same time.</span></p> <p><span style="font-size:18px">However, in the case of the investment of the payment-related organization, the employees on behalf of the investor organization are to be represented in the board of directors of the organization in which the investment is made.</span></p> <p><span style="font-size:18px">By mid-May 2023, 10 payment system operators and 27 payment service providers have received permission from NRB. By this period, there are 18.2 million wallet users. From mid-April to mid-May, transactions worth Rs 19.25 billion were made through digital wallets.</span></p> <p><span style="font-size:18px">From utility bill payments to purchasing goods, the use of mobile wallets is increasing in recent times.</span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18164', 'image' => '20230711061009_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-11 18:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18433', 'article_category_id' => '1', 'title' => 'Laxmi Bank and Sunrise Bank to Start Joint Transaction From July 14', 'sub_title' => '', 'summary' => 'Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">July 11: Laxmi Bank Limited and Sunrise Bank Limited have completed the merger process and will start joint operation from July 14.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The final agreement for the merger was reached on June 23. The Nepal Rastra Bank provided the final approval for the merger on July 7. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Office of the Company Registrar had granted final approval for the merger on July 9. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Securities Board of Nepal provided approval on July 10. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">With the completion of all processes, the joint transaction of the two banks will start in the name of “Laxmi Sunrise Bnak Limited”. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Banking services from all branches will be suspended for data migration and other purposes on July 12 and 13.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The two banks had gone into merger with a swap ration of 1:1. Currently, Laxmi Bank has capital of Rs 11 billion 55 crores, while Sunrise Bank has paid-up capital of Rs10 billion 11 crores.</span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">After the merger, the total capital will increase to more than Rs 21 billion 66 crores.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18163', 'image' => '20230711034908_collage (8).jpg', 'article_date' => '2023-07-11 15:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18431', 'article_category_id' => '1', 'title' => 'Missing Manang Air Chopper Found Crashed at Solukhumbu-Ramechhap Border ', 'sub_title' => '', 'summary' => 'July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The missing helicopter of Manang Air has been found crashed at Lamjura pass area of Likhupike Rural Municipality-5 in Solukhumbu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The helicopter of Manang Air with the call sign 9NA-MV en route to Kathmandu from Solukhumbu carrying six people on board including a pilot had gone missing since 10:01 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Solukhumbu, Basanta Bhattarai, said the helicopter was found in a crashed condition. CDO Bhattarai said that the primary information received by them confirmed that the chopper met with an accident at Lamjura pass. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash site lies at the border of Likhupike of Solukhumbu and Umakunda Rural Municipality of Ramechhap. Five bodies have been recovered at the incident site, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A helicopter of Altitude Air from Kathmandu was mobilized to search the missing helicopter and a team of Nepal Police was deputed from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Manang Air, Raju Neupane, said the five passengers are Mexican nationals. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18161', 'image' => '20230711031411_crashh.jpg', 'article_date' => '2023-07-11 15:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18429', 'article_category_id' => '1', 'title' => 'Government Spent Massive Budget Towards the End of Fiscal Year', 'sub_title' => '', 'summary' => 'July 11: The government’s expenditure system is still full of flaws.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The government’s expenditure system is still full of flaws.The constitution has a provision for the government to announce budget in advance on May 29 for a new fiscal year starting from mid-July so that the government has adequate time to implement the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, due to the failure of the state mechanism in the implementation of the budget, the practice of spending the budget only at the end of the fiscal year still persists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Even after the transformation of the country into a federal democratic republic, there is no improvement in the habit of spending large sums of money in the eleventh hour, posing serious questions on how to improve the system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government made excessive payments of Rs 41.68 billion on Sunday, the last day for payments in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data of the Financial Comptroller General Office (FCGO), Rs 19.99 billion under the heading of capital expenditure was released on Sunday before the government’s accounts were frozen. With this, the capital expenditure exceeded Rs 210 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the government claimed that most of the contractors were paid on the last day, Ravi Singh, the chairman of the Federation of Contractors Association of Nepal (FCAN), said that the government still has to pay them more than Rs 50 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhaniram Sharma, joint secretary of the Ministry of Finance said that all payments have already been made. He added that the payment may have been stopped only if the process has not been completed.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Expenses stand at about 1400 billion</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY 2022/23), the government has spent about Rs 1400 billion. Similarly, Rs 18.44 billion was released on Sunday alone under the heading of current expenses. Gayatri Raman Khanal, information officer of the Financial Comptroller General Office, said that the budget expenditure will increase slightly as the government can spend on special circumstances until July 15. According to Khanal, this year's budget expenditure will be around Rs 1400 billion. Revising the initial estimate of Rs 1793 billion rupees in the current year, the then Finance Minister Bishnu Paudel had downsized the budget to Rs 15.49 trillion rupees. However, the government expenditure could not even meet the revised estimate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Budget deficit highest ever</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The budget deficit has reached an all-time high. As of Sunday, the government has spent Rs 1374 billion while the government's income is Rs 935 billion. To meet the budget deficit of Rs 439 billion, government raised public debt of Rs 380 billion, causing deficit of Rs 59 billion. Finance ministry officials said that the payments for the insufficient amount was done through overdraft.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Payment halted</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Financial Procedures and Financial Responsibility Regulations stipulate that spending should be done at least 1 week before the end of the fiscal year. Accordingly, all kinds of government payments for the current fiscal year have been stopped from 12 o'clock on Sunday night. Information officer Khanal said that the Financial Controller General Office froze the accounts of the federal, state and local levels since midnight on Sunday. According to Khanal, no amount was paid on Monday. No new payments will be made from the provincial and local levels for the rest of this month. Checks issued before July 9 however can be exchanged.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18159', 'image' => '20230711024009_1683767264.jpg', 'article_date' => '2023-07-11 14:39:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18428', 'article_category_id' => '1', 'title' => 'NRNA to Help Develop Skilled Manpower', 'sub_title' => '', 'summary' => 'July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: The Vocational Education Committee under the Non-Resident Nepali Association (NRNA) is praparing to conduct various training programs for the production of skilled manpower in Nepal. Organising a press conference at the secretariat of the association in Baluwatar on Sunday, Ganesh KC, the coordinator of the committee and the deputy secretary general of the International Coordination Council of NRNA said that they plan to conduct a skill-based program to meet the growing demand for skilled manpower around the world. KC said that the committee will coordinate with all three levels of government to produce skilled manpower.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRNA President Kul Acharya said that the program to be initiated by the committee will be useful to address the growing demand for skilled manpower in the international labor market and to end the situation where Nepalese people going to different countries have to suffer due to lack of skills. He said, “If you go to a labour destination country without any skill, you have to face a lot of problems. So this program is very important for skill enhancement and efficiency improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee said that the Nepalese youth who are going abroad for any purpose of work, study, profession or professional development will be oriented about the geography, climate, lifestyle, general rules and laws of their destination country, the situation of immigrants, soft skills, etc. Similarly, technical training like cooking, bakery, barista, front office, house-keeping, elderly care, butchery, motor mechanics, spa, hair dressing, beautician, electronics goods repairing, electrician, etc will be given to the aspiring people.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18158', 'image' => '20230711021620_foreign emp.jpg', 'article_date' => '2023-07-11 14:15:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18427', 'article_category_id' => '1', 'title' => 'Police Bust Racket Involved in using Nepali Migrant Workers to Smuggle Gold', 'sub_title' => '12 arrested for smuggling gold from abroad', 'summary' => 'July 11: Police have busted a racket involved in using Nepali migrant workers to smuggle gold into the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 11: Police have busted a racket involved in using Nepali migrant workers to smuggle gold into the country. A police squad from the Kathmandu Valley Crime Investigation Office arrested 12 people on the charge of smuggling gold from abroad and made them public on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Those arrested are 25-year-old Ramdev Mahara of Mithila Bihari Municipality-5 of Dhanusha, 24-year-old Dharmadev Yadav of Sirha Municipality-17 of Sirha and 23-year-old Dharma Prasad Murau of Suddhodhan Municipality-6 of Kapilvastu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, 34-year-old Naresh Panjiar of Janakpurdham-5 of Dhanusha, 36-year-old Lal Bahadur Wali of Rapti Sonari-5 of Banke, 27-year-old Kisunlal Sahu Teli of Balambihu-2 of Saptari, 35-year-old Vinod Kumar Shah and 22-year-old Asharam Yadav of the same municipality were also arrested by the police and made public during a press conference.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Sanju Kumari Shah, Durga Prasad Yadav and Devanand Shah are among those arrested while collecting gold.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Police have also arrested Mohan Kumar Yadav of Siraha in connection with the case. It has been revealed that he was depositing and withdrawing money from Shiva Sundar Raut's account.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The head of Kathmandu Valley Crime Investigation Office and Senior Superintendent of Police Manoj Kumar KC said that Shiva Sunder Raut, the owner of Ritesh General Store in Siraha was involved in bringing illegal gold through immigrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, it has been revealed that Shiva Sundar has been mobilizing people who are employed abroad for a long time to bring illegal gold. Bank details obtained by the police show that his account had transactions worth Rs 1.96 billion since 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The police informed during the press conference that Shiva Sundar Raut was arrested from Siraha, and Vinod Kumar Shah who was operating the Hotel Himalayan Spire in Sinamangal was also arrested by the police.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the police, the smugglers were offered Rs 5,000 to 10,000 or free accommodation in hotels for smuggling the gold. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">SSP KC shared that 828 grams of gold was recovered from five people. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18157', 'image' => '20230711014403_goldee.jpg', 'article_date' => '2023-07-11 13:41:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18426', 'article_category_id' => '1', 'title' => 'Manang Air Helicopter Missing since 10 AM this Morning ', 'sub_title' => '', 'summary' => 'July 11: A helicopter belonging to Manang Air has been reported missing since 10:01 am 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 11: A helicopter belonging to Manang Air has been reported missing since 10:01 am today. The chopper was en route to Kathmandu from Solukhumbu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Tribhuvan International Airport (TIA) Spokesperson Teknath Sitaula, the helicopter with the call sign 9NA-MV had taken off from Surkhe of Solukhumbu for Kathamandu carrying six passengers. </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"">"TIA is informed about the chopper losing the contact since it arrived near Lamjura pass. The crew sent its last message saying 'Hello' on Viber from Lamjura pass. The search for the helicopter continues," said Sitaula. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18156', 'image' => '20230711121204_Manang-Air-27-1024x683.jpg', 'article_date' => '2023-07-11 12:10:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18425', 'article_category_id' => '1', 'title' => 'Hetauda-Bharatpur Transmission Line comes into Operation ', 'sub_title' => '', 'summary' => 'July 11: The Hetauda-Bharatpur 220 kV transmission line has come into operation. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 11: The Hetauda-Bharatpur 220 kV transmission line has come into operation. This transmission line is considered important for the smooth supply of power to Makawanpur and Chitwan, among other districts. The Hetauda-Bharatpur section is part of the Hetauda-Bharatpur-Bardaghat Transmission Line Project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Electricity Authority (NEA) has brought the 73 kilometres long circuit of 220 kV double-circuit transmission line into operation, charging it in the 132 kV for the time-being. </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"">Around 170 megawatts power can be transmitted to and fro Hetauda and Bharatpur with the operation of the Hetauda-Bharatpur section of the transmission line. Only 90 megawatts power was being transmitted to and from Hetauda and Bharatpur from the existing old 132 kV transmission line. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Hetauda-Bharatpur-Bardaghat Transmission Line Project was set up with the aim of strengthening and making reliable the transmission lines within Nepal and for transmitting the power generated from hydropower projects constructed in the western region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project was initiated in 2008 with the investment of Government of Nepal and NEA, and with concessional loan from the World Bank. Construction works had been started dividing the Project into two sections – Hetauda-Bharatpur and Bharatpur-Bardaghat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction of the project was affected due to various reasons such as obstruction by the locals, problem in land acquisition, delays related to the use of forest land and cutting down trees and the poor performance of the construction company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the World Bank withdrew from the project in 2021, the government and NEA has been undertaking the remaining works with their joint investment. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18155', 'image' => '20230711111542_Transmission.jpg', 'article_date' => '2023-07-11 11:14:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18423', 'article_category_id' => '1', 'title' => 'Nepali Citizens Spend more Money in Foreign Trips than the Country Earns from Tourists', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px">July 10: Nepali citizens spent over Rs 119.99 billion on foreign travel in the first eleven months of the current fiscal year (FY 2022-23), according to the latest report of Nepal Rastra Bank (NRB).</span></p> <p><span style="font-size:18px">The Current Macroeconomic and Financial Situation Report released by the NRB on Monday shows that the travel expenses of Nepali nationals increased by 37.9 percent to climb to Rs 119.99 billion, including Rs 89.18 billion for education during the eleven months of the current fiscal year.</span></p> <p><span style="font-size:18px">Such expenses were Rs 87.03 billion and Rs 59.99 billion respectively in the same period of the previous year. <br /> Meantime, in the review period, Nepal’s travel income amounted to Rs 58.06 billion following a 94.3 percent rise compared to the corresponding period of last fiscal year. The figure was Rs 29.88 billion last year. </span></p> <p><span style="font-size:18px">It means that Nepalis spend more on foreign visits than the country earns from foreign tourists. The total amount spent by Nepalis for higher education abroad (Rs 89.18 billion) is much more than Rs 58.06 billion which the country generated from tourists. </span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18153', 'image' => '20230711094616_20230710094027_20220717011757_20220426100813_1650929561.Clipboard19.jpg', 'article_date' => '2023-07-11 09:44:14', '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
