Nepal SBI Bank Receives 'Infosys Finacle Innovation Award 2023' for Mobile Banking Service

Jun 13, 2023 0 49 seconds to read

Nepal SBI Bank has been honored with the 'Infosys Finacle Innovation Award 2023'. The award was given for excellent and comprehensive mobile banking service under “Channel Innovation Gold Award” category for YONO Nepal SBI, the mobile banking…

Interest Rates of Banks Start Declining

Jun 12, 2023 0 2 minutes 49 seconds to read

June 12: With the improvement of the external sector of the economy, liquidity in the banks, and easing of the tight monetary policy implemented by the Nepal Rastra Bank (NRB), the interest rates of the banks have started to…

Nepal Has Lowest Customs Rates on Electric Vehicles in South Asia, Says FinMin Mahat

Jun 12, 2023 0 1 minutes 17 seconds to read

Minister of Finance Dr. Prakash Sharan Mahat has stated that the government has a clear policy to encourage the use of electric…

Ruslan Vodka Marks Golden Jubilee with Launch of New Bottle Design

Jun 12, 2023 0 1 minutes 29 seconds to read

Ruslan Vodka, a pioneer in the vodka industry, celebrates 50 years of excellence with unveiling of a stunning bottle…

‘Government’s Decision to Scrap Committees was a Hasty Decision’

Jun 12, 2023 0 3 minutes 22 seconds to read

June 12” While unveiling the budget for the upcoming fiscal year, Finance Minister Dr Prakash Sharan Mahat had announced that some government agencies/organizations will be scrapped while some others will be merged to reduce the regular expenses of the…

Regulators and Traders Agree to Prevent Unauthorized Import and Use of Mobile Sets

Jun 12, 2023 0 3 minutes 40 seconds to read

June 12: Regulators and businessmen have agreed to fully comply with the implementation of the 'Mobile Device Management System' (MDMS) enforced by the government on May 15 to stop the sale and distribution of mobile phones illegally imported into…

DoA issues Circular to Preserve Archeological Structures while Expanding Suryabinayak-Dhulikhel Road

Jun 12, 2023 0 1 minutes 56 seconds to read

June 12: The Department of Archeology (DoA) has sent a circular to the District Administration Office, Kavrepalanchowk to stop destruction of archeological goods and structures while widening the Suryabinayak-Dhulikhel…

Registration of New Companies Declining

Jun 12, 2023 0 3 minutes 23 seconds to read

June 12: Slowing down of economic activities seems to have taken the toll on private sector…

Disasters Likely to Affect around 1.25 Million People this Year: Study

Jun 12, 2023 0 1 minutes 25 seconds to read

June 12: As many as 1.25 million people are likely to be affected by monsoon in the country this year, it has been…

Tremor Jolts Bajura

Jun 12, 2023 0 58 seconds to read

June 12: An earthquake was recorded with epicenter at Bicchiya of Bajura district on Monday…

Lawmakers Voice Mixed Views on Budget for 2023/2024

Jun 12, 2023 0 1 minutes 44 seconds to read

Lawmakers aired their mixed view on the government's policies, programmes and budget for the next fiscal year, 2023/24. Some of them praised that the budget had many good programmes while others termed it as unbalanced and…

Multi-billion Project on Regional Transport and Trade Connectivity Launched

Jun 11, 2023 0 2 minutes 28 seconds to read

June 11: The government and the World Bank jointly launched the project 'Accelerating Nepal’s regional transport and trade connectivity' (ACCESS) with an investment of Rs 34.96 billion on…

4th Himalayan Travel Mart Concludes with Commitment to Revitalise Tourism

Jun 11, 2023 0 2 minutes 46 seconds to read

June 11: The 4th Himalayan Travel Mart (HTM) concluded on Saturday with the formulation of a strategic plan for revitalisation, promotion and sustainable development of tourism in the post COVID-19…

Budget Fails to Accept Realities of Economy: Former Finance Minister Paudel

Jun 11, 2023 0 6 minutes 55 seconds to read

June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and…

Excessive Heat to Decline as Monsoon likely to Enter Nepal in a Few Days: MFD

Jun 11, 2023 0 1 minutes 28 seconds to read

June 11: The scorching heat has thrown life of people out of gear since the last few…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

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NEPSE

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			'title' => 'Nepal SBI Bank Receives 'Infosys Finacle Innovation Award 2023' for Mobile Banking Service ',
			'sub_title' => '',
			'summary' => 'Nepal SBI Bank has been honored with the 'Infosys Finacle Innovation Award 2023'.  The award was given for  excellent and comprehensive mobile banking service under “Channel Innovation Gold Award” category for YONO Nepal SBI, the mobile banking App.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">June 13:&nbsp; Nepal SBI Bank has been honored with the &#39;Infosys Finacle Innovation Award 2023&#39;.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The award was given for&nbsp; excellent and comprehensive mobile banking service under &ldquo;Channel Innovation Gold Award&rdquo; category for YONO Nepal SBI, the mobile banking App. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The bank has been providing its banking services through its 93 branches, 22 extension counters, 10 branchless banking systems, 7 province offices and 1 corporate office and 128 ATMs. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">YONO is a flagship app of State Bank of India (SBI) and is also recognized as a super app with the valuation over $40 billion.</span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Interest Rates of Banks Start Declining',
			'sub_title' => '',
			'summary' => 'June 12: With the improvement of the external sector of the economy, liquidity in the banks, and easing of the tight monetary policy implemented by the Nepal Rastra Bank (NRB), the interest rates of the banks have started to decline.',
			'content' => '<p><span style="font-size:18px">June 12: With the improvement of the external sector of the economy, liquidity in the banks, and easing of the tight monetary policy implemented by the Nepal Rastra Bank (NRB), the interest rates of the banks have started to decline.</span></p>

<p><span style="font-size:18px">NRB adopted a tight monetary policy previously due to high inflation, Covid-19 and Russia-Ukraine tensions, causing the interest rate of the banks to increase to double digits. According to NRB, the interest rate of banks reached a high point in February of the current fiscal year (FY), but has started decreasing after mid-March.</span></p>

<p><span style="font-size:18px">As the liquidity situation eased, the banks reduced the interest rate on deposits. As a result, interest rates on loans have become cheaper.</span></p>

<p><span style="font-size:18px">Apart from this, NRB also encouraged the reduction of interest rates through the review of the monetary policy.</span></p>

<p><span style="font-size:18px">Reviewing the monetary policy of the current fiscal year, NRB increased the bank rate by 1.5 percentage points to 8.5 percent, the policy rate from 5.5 percent to 7 percent, and the deposit collection rate from 4 percent to 5.5 percent. After the sharp criticism of the increase in interest rates, NRB announced to reduce the spread rate of banks through the first quarter review of monetary policy. Accordingly, commercial banks maintained the spread rate at 4.2 percent and development banks and finance companies at 4.8 percent from March.</span></p>

<p><span style="font-size:18px">From mid-June, commercial banks need to maintain a spread rate of 4 percent and development banks and finance companies need to maintain it at 4.6 percent. As the spread rate has decreased, the interest rate on loans of banks has become cheaper.</span></p>

<p><span style="font-size:18px">Similarly, from the half-yearly review of the monetary policy, NRB also reduced the overnight repo interest rate by 1.5 percentage points to 7 percent, reducing the cost of banks&#39; capital that impacted the interest rates. Likewise, from the third quarter review of monetary policy, the bank rate has been reduced by 1 percentage point to 7.5 percent.</span></p>

<p><span style="font-size:18px">The Nepal Bankers Association (NBA) as well reduced the interest on deposits to a single digit from mid-April and reduced the loan premium to a maximum of 5 percent only, causing the interest rate to decline. President of NBA Sunil KC said, &ldquo;The interest rate is decreasing due to NRB&rsquo;s policy and market conditions. We will be in a very comfortable situation by mid-July.&rdquo;</span></p>

<p><span style="font-size:18px">As the interest rate is decreasing, the bankers are expecting that the loans will be disbursed gradually. By April, deposits in banks and financial institutions increased by Rs 370.78 billion, while loans have only increased by Rs 153.17 billion.</span></p>

<p><span style="font-size:18px">By mid-April, remittance inflow increased by 23.4 percent and reached Rs 1051.8 billion. Similarly, the Balance of Payments is in surplus by 214.67 billion, which was at a loss of 288.5 billion last year. The total foreign exchange reserve which was equal to Rs 1215.8 billion in June 2022 increased by 20.9 percent and reached Rs 1470.33 billion in 2023.</span></p>

<p><span style="font-size:18px">The foreign exchange reserves are sufficient to support 11.2 months of goods imports and 9.7 months of goods and services imports.</span></p>

<p>&nbsp;</p>
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			'id' => '18154',
			'article_category_id' => '1',
			'title' => 'Nepal Has Lowest Customs Rates on Electric Vehicles in South Asia, Says FinMin Mahat',
			'sub_title' => '',
			'summary' => 'Minister of Finance Dr. Prakash Sharan Mahat has stated that the government has a clear policy to encourage the use of electric vehicles.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 12: Minister of Finance Dr. Prakash Sharan Mahat has stated that the government has a clear policy to encourage the use of electric vehicles.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Answering questions raised in the Federal Parliament regarding the upcoming fiscal year&#39;s budget, Dr. Mahat mentioned that Nepal has relatively low taxes compared to other SAARC countries for the promotion of electric vehicles.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">&quot;The customs duty rates for electric vehicles in SAARC countries, including Nepal, vary significantly. In India, for example, the tax rate is 35% for un-assembled vehicles, 60% for vehicles priced up to 40,000 US dollars, and 100% for vehicles with a higher value. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In Pakistan, the tax rate is 50%, in Bangladesh, it is around 90% including all kinds of taxes. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He further explained that the arrangement for lower taxes and subsidies for electric vehicles aims to make them more affordable compared to vehicles running on diesel and petrol.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">&ldquo;The average total tax rates imposed on vehicles powered by petrol and diesel range from 251% to 358% including road construction tax while the average tax rates levied on electric vehicles range from 24.30% to 189.28%,&rdquo; Dr Mahat added. </span></span></p>
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			'title' => 'Ruslan Vodka Marks Golden Jubilee with Launch of New Bottle Design ',
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			'summary' => 'Ruslan Vodka, a pioneer in the vodka industry, celebrates 50 years of excellence with unveiling of a stunning bottle design.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 12: Ruslan Vodka, a pioneer in the vodka industry, celebrates 50 years of excellence with an exciting new look. Since its establishment in 1973, Ruslan has been renowned for its unwavering commitment to exceptional quality, and now, to honor this remarkable milestone, the brand has unveiled&nbsp;a captivating bottle design.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">For half a century, Ruslan Vodka has consistently delighted consumers across the nation with its velvety smooth texture, exquisite flavor profiles, and remarkable versatility. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Embracing a spirit of innovation, Ruslan introduces its vibrant new bottle, which elegantly showcases a sleek, transparent aesthetic, reflecting purity and clarity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This newly unveiled bottle design beautifully pays homage to the brand&#39;s rich heritage while embracing forward-thinking innovation.</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The new design encapsulates the essence of Ruslan as a Versatile Vibrant Vodka, seamlessly blending tradition and modernity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Whether enjoyed straight, in cocktails, or over ice, Ruslan Vodka serves as a powerful symbol of celebration, joy, and cherished moments.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The vodka has captivated the hearts of countless enthusiasts, firmly establishing Ruslan as the preferred choice for discerning vodka connoisseurs.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Now available in premium transparent bottles of 750 ml, 375 ml, and 180 ml, Ruslan Vodka can be conveniently found at nearby stores, ready to elevate your enjoyment. </span></span></p>
',
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			'article_category_id' => '1',
			'title' => '‘Government’s Decision to Scrap Committees was a Hasty Decision’',
			'sub_title' => '',
			'summary' => 'June 12” While unveiling the budget for the upcoming fiscal year, Finance Minister Dr Prakash Sharan Mahat had announced that some government agencies/organizations will be scrapped while some others will be merged to reduce the regular expenses of the government.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12&rdquo; While unveiling the budget for the upcoming fiscal year, Finance Minister Dr Prakash Sharan Mahat had announced that some government agencies/organizations will be scrapped while some others will be merged to reduce the regular expenses of the government. Meanwhile, stakeholders have expressed their displeasure over this decision saying that the government took such a move without any study, preparation and alternative arrangements.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">There has been a state of confusion after Finance Minister Mahat announced the decision to scrap 20 government agencies including the Cotton Development Committee at Khajura in Banke as well as the District Election Offices while announcing the budget for the fiscal year (FY) 2023/24 on May 29. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">This decision has worried the farmers of Banke and Bardia. Satish Niraula of Khajura said that this decision is unfortunate as jobs can be created by operating yarn industry along with cotton using equipment worth millions of rupees owned under the committee.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Cotton Development Committee with central office in Khajura, Banke, has sold cotton worth Rs 30 million in the current fiscal year (FY 2022/23). The committee&rsquo;s chairman Hemantraj Kafle said that 300 farmers have been selected and the required seeds and pesticides are already purchased as this is the right time for cotton cultivation. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;All the cotton in the warehouse has been sold, the demand is the same. Farmers here are earning a lot of income from cotton farming. It is sad that an organization that is trying to rise up is scrapped. Our capital has already reached Rs 100 million and it has been consistently profitable in recent years.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Chairman of the committee Kafle said that due to the increase in the demand for cotton in recent times, it is not possible to supply the product as per the demand. He informed that 100 tons of cotton purchased from farmers in the current season has been sold.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Finance Minister Mahat also announced the abolition of the National Dairy Development Board. Since the organization regulates dairy products and industry, brings concession package for farmers and makes policies/rules related to dairy industry, the stakeholders have come out against the decision. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Associations and organizations related to the dairy industry, including Nepal Dairy Science Association (NDSA), Nepal Dairy Association, Central Dairy Cooperative Association (CDCAN), Central Fisheries Promotion and Conservation Center (CFPCC), Nepal Animal Science Association and other organizations demanded that the government&#39;s decision should be reversed.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Tek Bahadur Thapa, president of NDSA said that it is sad that the regulatory body of the dairy industry, which contributes greatly to the total national production of the country, has been abolished. Ram Prasad Acharya, general secretary of the Central Dairy Cooperative Association, said that the National Dairy Development Board is a place for farmers to voice their opinion and that the cancellation is not justifiable.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '18150',
			'article_category_id' => '1',
			'title' => 'Regulators and Traders Agree to Prevent Unauthorized Import and Use of Mobile Sets',
			'sub_title' => '',
			'summary' => 'June 12: Regulators and businessmen have agreed to fully comply with the implementation of the 'Mobile Device Management System' (MDMS) enforced by the government on May 15 to stop the sale and distribution of mobile phones illegally imported into Nepal.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12: Regulators and businessmen have agreed to fully comply with the implementation of the &#39;Mobile Device Management System&#39; (MDMS) enforced by the government on May 15 to stop the sale and distribution of mobile phones illegally imported into Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Mobile Phone Imports Association and Nepal Mobile Distributors Association held an interaction and press conference on MDMS implementation in Kathmandu and expressed that this system should be implemented strictly.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal Telecommunications Authority Chairman Purushottam Khanal said that the MDMS system has been implemented to prevent the unauthorized import and use of mobile sets in Nepal. He said that this system will stop the illegal trading and distribution of mobile phones and bring them into the revenue system, and it will also help in reducing criminal activities. Khanal claimed that this system will also be effective in preventing access of third parties to confidential and sensitive personal information in case of lost or stolen mobile phones.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Complaints about leaks in bank details and other personal information are received when mobile phones were lost or stolen. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;With the MDMS system, now stolen phones can be blocked immediately and can be made to stop working in any corner of the world,&quot; he said. He added that MDMS has been implemented to control mobiles that are stolen, lost, or brought without paying customs duty.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Mobile Phone Importers Association President Deepak Malhotra said that mobile phones worth around Rs 15 billion are being sold and distributed illegally, and the government is losing revenue worth Rs 3 to 4 billion annually. He said that some of the phones that come into use are stolen and consumers are paying the price because they cannot distinguish the illegal ones.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;Due to the sale of such mobile phones, there will be problems in criminal investigations and it also badly affects mobile traders,&quot; he said. He also claimed that the price of mobile phones will not increase after the implementation of MDMS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Chief of District Police Range, Kathmandu, SSP Dan Bahadur Karki, said that analyzing the use of mobile phones and social media in criminal investigations is crucial, so it is necessary to implement this system effectively. He said that it is also the police&#39;s job to investigate the mobile phones brought illegally without paying tax.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;Bringing mobile phones without paying customs duty is a crime in itself. People who want to make a profit from such actions cannot get immunity. They come into the legal sphere slowly,&quot; said Karki, &quot;The police also investigate crimes that occur through the use of illegal mobile phones.&quot;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He also said that consumers should not buy mobile phones without bills and packets. He said that two to three hundred mobile phones are lost every month, and it is difficult to track mobile sets that are not registered with the MDMS system.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Director of the Department of Customs Punya Bikram Khadka said that the implementation of the MDMS system is expected to increase the government&rsquo;s revenue. Revenue Research Department Director Binod Lamichhane said that MDMS will increase legal business and also consumers will benefit from it.</span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '18149',
			'article_category_id' => '1',
			'title' => 'DoA issues Circular to Preserve Archeological Structures while Expanding Suryabinayak-Dhulikhel Road',
			'sub_title' => '',
			'summary' => 'June 12: The Department of Archeology (DoA) has sent a circular to the District Administration Office, Kavrepalanchowk to stop destruction of archeological goods and structures while widening the Suryabinayak-Dhulikhel road.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: The Department of Archeology (DoA) has sent a circular to the District Administration Office, Kavrepalanchowk to stop destruction of archeological goods and structures while widening the Suryabinayak-Dhulikhel road.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The department urged the district administration office to stop bulldozing antique brick walls, sources of water, antique wooden and stone structures that were found at Banepa&rsquo;s Bhaisepati area along the Araniko Highway in course of the road excavation.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The department&#39;s Archeology Officer Bhishma Banskota informed that a circular was sent to the concerned authority on Sunday to immediately stop the act. The department decided to send the circular after archeologically valuable goods were ruined during the road widening drive.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Banskota further said that the department has also urged the authority to preserve antique brick walls, water sources, and ancient wooden and stone structures.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the department also wrote a letter to Banepa Municipality &ndash; located along the Araniko Highway to not allow actions that destroy archeologically-important structures in course of the road expansion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It may be noted that the expansion of the road from Suryabinayak of Bhaktapur to Dhulikhel of Kavrepalanchowk along the Araniko Highway had started since last March. Two separate contracts were awarded to the construction companies to complete the widening of Suryabinayak-Sanga and Sanga-Dhulikhel road sections within three years.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Suryabinayak-Dhulikhel, Dhulikhel-Sindhuli-Bardibas road project office, a contract of Rs 4.56 billion has been signed for the expansion of Sanga-Dhulikhel road. Likewise, another contract amounting to Rs 3.88 billion has been signed for the widening of 7.5-km road from Suryabinayak to Sanga. -- RSS</span></span></span></p>
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			'image' => '20230612020422_20230219013913_20220831041752_dhulikhel.jpg',
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	(int) 7 => array(
		'Article' => array(
			'id' => '18148',
			'article_category_id' => '1',
			'title' => 'Registration of New Companies Declining',
			'sub_title' => '',
			'summary' => 'June 12: Slowing down of economic activities seems to have taken the toll on private sector investment.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12: Slowing down of economic activities seems to have taken the toll on private sector investment. Data related to the registration of new companies, which showed continuous rise in the last two years, now show a significant decline in the current fiscal year, indicating that the morale of entrepreneurs and investors has deteriorated.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">By mid-March of the current FY, the number of company registration decreased by 30 percent compared to the same period of last year. Entrepreneurs say that even though they have made new plans, they are in the wait and watch stance to invest. A total of 15,187 new companies were registered till mid-March of the current FY in the Office of the Company Registrar, against 21,902 registrations in the last FY.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Economic Survey 2079/80, registration of new companies, which had been increasing since the FY 2070/71, decreased in the FY 2076/77. It again picked up pace in the following two years and declined again in the current FY.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Company Registrar&#39;s Office staff said that their workload has decreased this year. Mahesh Baral, registrar of the Company Registrar&#39;s Office said that there has been a decrease in company registrations this year. &ldquo;The crowd in the office has decreased. When the registration is low, the subsequent work also automatically decreases. Perhaps due to the current economic situation, there is no enthusiasm for registering new companies,&rdquo; he said.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The data released by the National Statistics Office in early May also showed that the growth rate of five sectors of the economy (mining and quarrying, industry, construction, trade, transport and warehousing) was negative.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Another employee of the Company Registrar&#39;s Office said, &ldquo;In addition to registration, updating work has also decreased, while the works related to share price have reduced by 90 percent.&rdquo; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A certain amount is offered when registering a company which must be deposited in the bank when buying the shares. The employee assumed that the businessmen did not have any money and did not come to the office for the works related to share price.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Majority of investors have stopped registering new companies as well as expanding their investment portfolio. An entrepreneur said, &ldquo;It is not possible for businessmen to register new company and expand investment in more areas with a solo effort. Some businessmen can do it, but the majority of them operate by taking loans up to 70 percent from the bank.&rdquo; He added that investors are not interested in new companies and new investments.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">They say that the banks don&rsquo;t give them loans. &ldquo;Even if they do so, the interest rate is in double digits. We are unable to sell goods in the market. All these factors have compelled us to focus on sustaining our business rather than establishing a new one.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Company Registrar&#39;s Office, altogether 307,735 companies have been registered as private and public companies so far.</span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '18147',
			'article_category_id' => '1',
			'title' => 'Disasters Likely to Affect around 1.25 Million People this Year: Study',
			'sub_title' => '',
			'summary' => 'June 12: As many as 1.25 million people are likely to be affected by monsoon in the country this year, it has been predicted. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: As many as 1.25 million people are likely to be affected by monsoon in the country this year, it has been predicted.&nbsp; A study carried out by the National Disaster Risk Reduction and Management Authority (NDRRMA) based on different scientific analysis has predicted that 1.25 million people of 286,098 households are likely to be affected by different disaster incidents this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The study has predicted that the incidents of natural disaster will mostly affect the Madhes Province followed by the Koshi Province. The incidents would affect around 400,000 people in the Madhes Province and 300, 000 people in the Koshi Province this year, the report stated.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the NDRRMA, disaster would affect 200,000 people in the Lumbini Province, 100,000 in the Bagmati Province, 147,000 in the Sudurpaschim Province, 69,000 in the Gandaki Province and 35,000 in Karnali Province.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Last year around two million people were predicted to be affected by the incidents of disasters.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In view of this, the government has intensified early preparedness and response efforts before the onset of monsoon in the country. The Ministry of Home Affairs has stepped up its preparation to put in place mechanisms to tackle disasters this year. -- RSS</span></span></span></p>
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			'sortorder' => '17877',
			'image' => '20230612114452_20211020080208_SBS_Kanchanpur-1.jpg',
			'article_date' => '2023-06-12 11:43:55',
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	(int) 9 => array(
		'Article' => array(
			'id' => '18146',
			'article_category_id' => '1',
			'title' => 'Tremor Jolts Bajura   ',
			'sub_title' => '',
			'summary' => 'June 12: An earthquake was recorded with epicenter at Bicchiya of Bajura district on Monday morning.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: An earthquake was recorded with epicenter at Bicchiya of Bajura district on Monday morning.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the National Earthquake Monitoring and Research Centre, Lainchaur, the earthquake measuring 4.4 in the Richter scale was felt in the district at 7.38 am this morning.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Prior to this, earthquakes with epicenter at Bichhaya were recorded several times in Bajura.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">An earthquake measuring 3.9 in the Richter scale had also rocked Sindhupalchowk district on May 28.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lately, earthquakes have been recurring frequently in the eastern and western parts of Nepal. Nepal&#39;s hill and mountainous areas are considered highly vulnerable to earthquakes. -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '18145',
			'article_category_id' => '1',
			'title' => 'Lawmakers Voice Mixed Views on Budget for 2023/2024',
			'sub_title' => '',
			'summary' => 'Lawmakers aired their mixed view on the government's policies, programmes and budget for the next fiscal year, 2023/24. Some of them praised that the budget had many good programmes while others termed it as unbalanced and incoherent.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">June 12: Lawmakers aired their mixed view on the government&#39;s policies, programmes and budget for the next fiscal year, 2023/24.&nbsp;Some of them praised that the budget had many good programmes while others termed it as unbalanced and incoherent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">While taking part in a &#39;general&#39; deliberation on the annual estimation of the government&#39;s revenues and expenditures for the next FY in Sunday&rsquo;s meeting of the House of Representatives, lawmakers expressed their ambivalent views on the upcoming budget. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">On the occasion, Roshan Karki termed the budget as ambitious despite having some positive programmes. He said that the budget lacks programmes aimed at uplifting women and backward communities.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">Similarly, Mahendra Bahadur Shahi claimed that the government&#39;s policies, programmes and budget lacked coherence. He criticized the uneven distribution of the budget and said that powerful individuals may have influenced the budget allocation. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">&nbsp;Similarly, Shishir Khanal said the budget has failed to bring effective programmes to improve economy. Meanwhile, Prakash Adhikari stressed the need for the government to resolve the issues including that of citizenship bill. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Calibri&quot;,sans-serif">Likewise, Prabhu Sah emphasized the adverse impact of expanding the tax ceiling on farmers, highlighting the economic scarcity as the country&#39;s primary challenge. Sah stressed the importance of finding alternative solutions to ensure the financial stability of farmers and foster agricultural development.</span></span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '18144',
			'article_category_id' => '1',
			'title' => 'Multi-billion Project on Regional Transport and Trade Connectivity Launched  ',
			'sub_title' => '',
			'summary' => 'June 11: The government and the World Bank jointly launched the project 'Accelerating Nepal’s regional transport and trade connectivity' (ACCESS) with an investment of Rs 34.96 billion on Sunday.    ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The government and the World Bank jointly launched the project &#39;Accelerating Nepal&rsquo;s regional transport and trade connectivity&#39; (ACCESS) with an investment of Rs 34.96 billion on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ACCESS project aims at improving trade and connectivity by reducing trade and transport costs and transit time along the selected corridors in Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The project was launched by Minister for Physical Infrastructure and Transport, Prakash Jwala, and the World Bank&rsquo;s Vice President for South Asia, Martin Raiser.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;&ldquo;The ACCESS project will help develop resilient infrastructure in Nepal and help unlock Nepal&rsquo;s economic potential through better connectivity and trade, both between the provinces as well as regionally,&rdquo; said Jwala.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;Under the project, the 69-km two-lane section of the Butwal-Gorusinghe-Chanauta road along the East-West Highway will be upgraded to a climate-resilient four-lane highway. With a focus on ensuring better road safety, the project is expected to reduce travel time by 30 percent, thus providing better access to India&rsquo;s western seaports.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Moreover, the project will construct at least three market areas with required internet and trade information facilities along the highway to help enhance economic opportunities, especially for women entrepreneurs and traders. It will also support advancing Nepal&rsquo;s preparedness and subsequent implementation of the Motor Vehicle Agreement signed by Bangladesh, Bhutan, India, and Nepal to allow smooth passage of goods and passenger vehicles in each other&rsquo;s territories.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;On the occasion, Raiser said, &ldquo;Enhanced trade and transport connectivity promotes economic integration and opens larger markets among South Asian countries. The ACCESS Project will help improve regional trade and promote sustainable infrastructure development to support Nepal&rsquo;s green, resilient, and inclusive development.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The undertaking will be implemented by the Ministry of Physical Infrastructure and Transport; Ministry of Industry, Commerce and Supplies; and Ministry of Forests and Environment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The project&rsquo;s financing agreement was signed by the government and the World Bank in September last year. -- RSS</span></span></span></p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '18143',
			'article_category_id' => '1',
			'title' => '4th Himalayan Travel Mart Concludes with Commitment to Revitalise Tourism   ',
			'sub_title' => '',
			'summary' => 'June 11: The 4th Himalayan Travel Mart (HTM) concluded on Saturday with the formulation of a strategic plan for revitalisation, promotion and sustainable development of tourism in the post COVID-19 era.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The 4th Himalayan Travel Mart (HTM) concluded on Saturday with the formulation of a strategic plan for revitalisation, promotion and sustainable development of tourism in the post COVID-19 era.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The travel mart hosted by the Ministry of Culture, Tourism and Civil Aviation and organised by the PATA (Pacific Asia Travel Association) Nepal Chapter in collaboration with the Nepal Tourism Board (NTB), the Nepal Airlines Corporation (NAC) and other tourism organisations was attended by more than 700 representatives from 25 countries. The four-day event was inaugurated by Prime Minister Pushpa Kamal Dahal on June 6. In his address during the inaugural session, PM Dahal said the travel mart has been a main forum for the promotion of tourism of the Himalayan Region including Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He also expressed the hope that the travel mart would play an important role in the promotion of Nepal&rsquo;s tourism while identifying the country as an entry point to the Himalayas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Tourism Secretary Suresh Adhikari said the conference offered an opportunity to establish contact with travel entrepreneurs from across the globe while exploring the potential of Nepal&rsquo;s tourism industry.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, executive chief of the NTB Dr Dhananjaya Regmi and executive chair of the NAC Yubaraj Adhikari expressed the hope that the event would help promote the country&rsquo;s tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">PATA Nepal Chapter President Bibhuti Chand Thakur said the travel mart had become effective in exploring new opportunities for the exchange of networks and trade, and promoting destinations for the sustainable development of tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The event held under the theme of &lsquo;Reconnecting, Rebuilding and Reinvigorating&rsquo;, witnessed participation of national and international speakers who discussed the potential of the aviation sector, and new international airports of Nepal. Issues ranging from the revival of Chinese tourists to the trend of European tourists, opportunities and sustainable development of tourism for Nepal, promotion of the possibility of regional tourism, climate change, sustainable tourism, adventure tourism and new practice in education were also discussed. The B2B Mart brought together 50 buyer organisations from the US, Europe, Russia and Commonwealth of Independent States, Asia and the UAE, and seller organisations from Nepal, Sri Lanka and Bhutan, according to a statement issued by the PATA Nepal Chapter.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the occasion, the ministry&rsquo;s secretary Adhikari announced that the 5th HTM would be organised in Kathmandu on June-4-7, 2024 jointly by the PATA Nepal Chapter and the NTB.&nbsp;&nbsp;&nbsp; -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '18142',
			'article_category_id' => '1',
			'title' => 'Budget Fails to Accept Realities of Economy: Former Finance Minister Paudel',
			'sub_title' => '',
			'summary' => 'June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal  year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal&nbsp; year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Taking part in the deliberations on the government&#39;s estimations of its annual revenue and expenditures for the upcoming fiscal year in a meeting of the House of Representatives (HoR) on Sunday, he said priorities and plans mentioned in the new policies and programmes were not given a space in the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;This budget lacks coherence and consistency with its policies and programmes and principles and priorities,&quot; he said. Matters of granting a discount on electricity tariff (up to 30 units in winter and up to 50 units during the monsoon) and the programme to develop the Geta Medical College as the Dashrath Chand Medical University are missing in the budget,&quot; he said.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The budget has failed to recognize the existing economic issues, assess its challenges and opportunities and present possible ways for the solutions, according to the leader.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;Economic growth below 2.16 percent, 7.5 percent consumer price inflation, current account deficit worth over Rs 54 billion and&nbsp; the situation suggesting the negative reserve fund by Rs two billion by the end of the current fiscal year have not been addressed by the budget,&quot; he said.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">As he evaluated, 7.96 percent banking loan disbursement to the private sector, negative Gross Domestic Growth in first and second quarters of the current fiscal year, economic slowdown, a significant loss in employment opportunities and skyrocketing prices suggest the Nepalese economy is marred by crisis.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He went on to say that 38.12 percent capital expenditure, mobilization of foreign grants less than 10 percent of the target and a fall in revenue collections: by 12 percent than the last fiscal and 56 percent of the target this year provided a room to question the government&rsquo;s capacity to effectively steer the national economy.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The projection of an economic growth in the upcoming year less than the current fiscal year and a fall in the appropriations suggest that the government is not capable of mobilizing the available resources fully, according to the lawmaker.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;The existing scenario of the capital market reflects the situation of the national economy,&quot; he said, adding that three years ago, the Nepal Stock Exchange Index had touched 3,200 points with daily turnover of up to Rs 20 billion. But now, it has dwindled to 1950 points with Rs two billion daily turnover.&nbsp; The market capitalization has shrunk from Rs 450 billion to Rs 280 billion,&quot; Paudel said, adding that none was ready to take responsibility for this negative picture of the capital market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to him, although the budget statement mentions decreasing the current expenditure, the current expenditure proposed for the upcoming fiscal year is more by Rs 97 billion compared to the current fiscal year&#39;s current expenditure. Poudel stated that the allocation towards capital expenditure, which was around 20 percent of the total budget on an average since the last six years, has been reduced to 17 per cent this time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;On the one hand it is mentioned in the budget that implementation of fiscal federalism would be emphasized while on the other hand the fiscal transfers to the province and local levels have been allocated with a deficit of Rs 29.75 billion as compared to the allocations of the current fiscal year. In this way, the resource management and the allocation made for the current and capital expenditures in this budget are unrealistic, unbelievable, self-contradictory and difficult to execute,&quot; argued the former finance minister.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Removing and downsizing the capacity of the past programmes like&nbsp; the Prime Minister Employment Program, the President Educational Reform Programme, the President Women Empowerment Programme, the Prime Minister Agriculture Modernization Programme, urbanization of the district headquarters of the Terai districts, industrial zone infrastructure and issuing loans keeping the academic qualification certificates as collateral, among others indicated that the budget is taking pleasure not in &#39;changing the game&rsquo; but only in &#39;changing the name&#39;, Poudel sarcastically said of the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He commented that the budget has not allocated money for providing compensation for health insurance, delimited the provision of asking for loans by keeping the academic certificates as collateral and scattered the budget even in the projects implemented by the local level wards and municipalities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The former finance minister said the budget has not addressed the potential of the water resources, tourism and agriculture sectors, and it lacked novelty. &quot;Rather, it is like the continuation of the past programmes ,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to him, some programmes in the budget were highly controversial. Stating that the programme of exporting stones and pebbles abroad by quarrying the Chure had met with opposition in the past, and wondered on what grounds this programme had been brought in the present budget. Likewise, Poudel expressed his objection regarding the beneficiary of the Citizen Pension Programme, its action plan and sources included in the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel also termed as inappropriate the decision made by the government through the budget statement to dissolve and merge 20 various government corporations for reducing the expenses. In his view, the government should cut down on the facilities of the president, the vice president, members of the Council of Ministers, and lawmakers among others to reduce expenditures.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The former finance minister also took exception to the provision of the budget providing Rs 50 million to the MP through the Parliamentary Constituency Infrastructure Development Programme. He also declared in the parliament that he wished to spend the amount under this programme he gets as a parliamentarian in the construction of infrastructures in the public education sector through the ministry concerned.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Former Finance Minister Poudel claimed the change in the tax rate in the budget is also not logical. He is of the view that the government should address the justified demands made by the private and cooperative sectors, and share market investors, saying they were dissatisfied with the tax proposed by the government.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Meanwhile, speaking in the meeting of the House of Representatives on Sunday, lawmaker Deepak Giri viewed that the parties should not be divided into ruling and opposition benches in policy matters as budget but should move ahead by making programmes collectively. He also called on the lawmakers to be responsible towards the citizens in addressing their problems, no matter how petty they might seem to be. Giri also called on the parliament to rethink the time of presenting the budget in parliament. --RSS</span></span></p>

<p>&nbsp;</p>
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			'title' => 'Excessive Heat to Decline as Monsoon likely to Enter Nepal in a Few Days: MFD',
			'sub_title' => '',
			'summary' => 'June 11: The scorching heat has thrown life of people out of gear since the last few days.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The scorching heat has thrown life of people out of gear since the last few days.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Temperature in some parts of the country soared to as high as above 43 degrees Celsius. The situation may somehow ease as the monsoon is entering Nepal within some days, said the Meteorological Forecasting Division.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Based on weather analysis in the past 30 years, monsoon in general enters Nepal in mid-June and exits in the first week of October. Moisture-laden winds from the Bay of Bengal along with the Westerly winds, and the low pressure area from the surroundings of Bihar in India have had their impact, increasing the possibilities for the monsoon to enter Nepal on time, said meteorologist Rojan Lamichhane. &quot;Temperature has started to decrease in Koshi Province since Saturday. Clouds are forming, and factors required for monsoon are favourable,&quot; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the division, Koshi Province and some hill areas of the country will remain partially to generally cloudy, and the remaining parts will have clear sky. One or two parts of hill areas of Koshi Province are predicted to receive light rainfall, said Lamichhane. Temperature across the country will gradually go down, but it will remain constant for some more days that in the western Tarai, according to the division. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'id' => '18156',
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			'title' => 'Nepal SBI Bank Receives 'Infosys Finacle Innovation Award 2023' for Mobile Banking Service ',
			'sub_title' => '',
			'summary' => 'Nepal SBI Bank has been honored with the 'Infosys Finacle Innovation Award 2023'.  The award was given for  excellent and comprehensive mobile banking service under “Channel Innovation Gold Award” category for YONO Nepal SBI, the mobile banking App.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">June 13:&nbsp; Nepal SBI Bank has been honored with the &#39;Infosys Finacle Innovation Award 2023&#39;.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The award was given for&nbsp; excellent and comprehensive mobile banking service under &ldquo;Channel Innovation Gold Award&rdquo; category for YONO Nepal SBI, the mobile banking App. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The bank has been providing its banking services through its 93 branches, 22 extension counters, 10 branchless banking systems, 7 province offices and 1 corporate office and 128 ATMs. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">YONO is a flagship app of State Bank of India (SBI) and is also recognized as a super app with the valuation over $40 billion.</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '18155',
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			'title' => 'Interest Rates of Banks Start Declining',
			'sub_title' => '',
			'summary' => 'June 12: With the improvement of the external sector of the economy, liquidity in the banks, and easing of the tight monetary policy implemented by the Nepal Rastra Bank (NRB), the interest rates of the banks have started to decline.',
			'content' => '<p><span style="font-size:18px">June 12: With the improvement of the external sector of the economy, liquidity in the banks, and easing of the tight monetary policy implemented by the Nepal Rastra Bank (NRB), the interest rates of the banks have started to decline.</span></p>

<p><span style="font-size:18px">NRB adopted a tight monetary policy previously due to high inflation, Covid-19 and Russia-Ukraine tensions, causing the interest rate of the banks to increase to double digits. According to NRB, the interest rate of banks reached a high point in February of the current fiscal year (FY), but has started decreasing after mid-March.</span></p>

<p><span style="font-size:18px">As the liquidity situation eased, the banks reduced the interest rate on deposits. As a result, interest rates on loans have become cheaper.</span></p>

<p><span style="font-size:18px">Apart from this, NRB also encouraged the reduction of interest rates through the review of the monetary policy.</span></p>

<p><span style="font-size:18px">Reviewing the monetary policy of the current fiscal year, NRB increased the bank rate by 1.5 percentage points to 8.5 percent, the policy rate from 5.5 percent to 7 percent, and the deposit collection rate from 4 percent to 5.5 percent. After the sharp criticism of the increase in interest rates, NRB announced to reduce the spread rate of banks through the first quarter review of monetary policy. Accordingly, commercial banks maintained the spread rate at 4.2 percent and development banks and finance companies at 4.8 percent from March.</span></p>

<p><span style="font-size:18px">From mid-June, commercial banks need to maintain a spread rate of 4 percent and development banks and finance companies need to maintain it at 4.6 percent. As the spread rate has decreased, the interest rate on loans of banks has become cheaper.</span></p>

<p><span style="font-size:18px">Similarly, from the half-yearly review of the monetary policy, NRB also reduced the overnight repo interest rate by 1.5 percentage points to 7 percent, reducing the cost of banks&#39; capital that impacted the interest rates. Likewise, from the third quarter review of monetary policy, the bank rate has been reduced by 1 percentage point to 7.5 percent.</span></p>

<p><span style="font-size:18px">The Nepal Bankers Association (NBA) as well reduced the interest on deposits to a single digit from mid-April and reduced the loan premium to a maximum of 5 percent only, causing the interest rate to decline. President of NBA Sunil KC said, &ldquo;The interest rate is decreasing due to NRB&rsquo;s policy and market conditions. We will be in a very comfortable situation by mid-July.&rdquo;</span></p>

<p><span style="font-size:18px">As the interest rate is decreasing, the bankers are expecting that the loans will be disbursed gradually. By April, deposits in banks and financial institutions increased by Rs 370.78 billion, while loans have only increased by Rs 153.17 billion.</span></p>

<p><span style="font-size:18px">By mid-April, remittance inflow increased by 23.4 percent and reached Rs 1051.8 billion. Similarly, the Balance of Payments is in surplus by 214.67 billion, which was at a loss of 288.5 billion last year. The total foreign exchange reserve which was equal to Rs 1215.8 billion in June 2022 increased by 20.9 percent and reached Rs 1470.33 billion in 2023.</span></p>

<p><span style="font-size:18px">The foreign exchange reserves are sufficient to support 11.2 months of goods imports and 9.7 months of goods and services imports.</span></p>

<p>&nbsp;</p>
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			'id' => '18154',
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			'title' => 'Nepal Has Lowest Customs Rates on Electric Vehicles in South Asia, Says FinMin Mahat',
			'sub_title' => '',
			'summary' => 'Minister of Finance Dr. Prakash Sharan Mahat has stated that the government has a clear policy to encourage the use of electric vehicles.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 12: Minister of Finance Dr. Prakash Sharan Mahat has stated that the government has a clear policy to encourage the use of electric vehicles.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Answering questions raised in the Federal Parliament regarding the upcoming fiscal year&#39;s budget, Dr. Mahat mentioned that Nepal has relatively low taxes compared to other SAARC countries for the promotion of electric vehicles.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">&quot;The customs duty rates for electric vehicles in SAARC countries, including Nepal, vary significantly. In India, for example, the tax rate is 35% for un-assembled vehicles, 60% for vehicles priced up to 40,000 US dollars, and 100% for vehicles with a higher value. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In Pakistan, the tax rate is 50%, in Bangladesh, it is around 90% including all kinds of taxes. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He further explained that the arrangement for lower taxes and subsidies for electric vehicles aims to make them more affordable compared to vehicles running on diesel and petrol.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">&ldquo;The average total tax rates imposed on vehicles powered by petrol and diesel range from 251% to 358% including road construction tax while the average tax rates levied on electric vehicles range from 24.30% to 189.28%,&rdquo; Dr Mahat added. </span></span></p>
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			'id' => '18153',
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			'title' => 'Ruslan Vodka Marks Golden Jubilee with Launch of New Bottle Design ',
			'sub_title' => '',
			'summary' => 'Ruslan Vodka, a pioneer in the vodka industry, celebrates 50 years of excellence with unveiling of a stunning bottle design.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 12: Ruslan Vodka, a pioneer in the vodka industry, celebrates 50 years of excellence with an exciting new look. Since its establishment in 1973, Ruslan has been renowned for its unwavering commitment to exceptional quality, and now, to honor this remarkable milestone, the brand has unveiled&nbsp;a captivating bottle design.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">For half a century, Ruslan Vodka has consistently delighted consumers across the nation with its velvety smooth texture, exquisite flavor profiles, and remarkable versatility. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Embracing a spirit of innovation, Ruslan introduces its vibrant new bottle, which elegantly showcases a sleek, transparent aesthetic, reflecting purity and clarity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This newly unveiled bottle design beautifully pays homage to the brand&#39;s rich heritage while embracing forward-thinking innovation.</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The new design encapsulates the essence of Ruslan as a Versatile Vibrant Vodka, seamlessly blending tradition and modernity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Whether enjoyed straight, in cocktails, or over ice, Ruslan Vodka serves as a powerful symbol of celebration, joy, and cherished moments.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The vodka has captivated the hearts of countless enthusiasts, firmly establishing Ruslan as the preferred choice for discerning vodka connoisseurs.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Now available in premium transparent bottles of 750 ml, 375 ml, and 180 ml, Ruslan Vodka can be conveniently found at nearby stores, ready to elevate your enjoyment. </span></span></p>
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			'article_category_id' => '1',
			'title' => '‘Government’s Decision to Scrap Committees was a Hasty Decision’',
			'sub_title' => '',
			'summary' => 'June 12” While unveiling the budget for the upcoming fiscal year, Finance Minister Dr Prakash Sharan Mahat had announced that some government agencies/organizations will be scrapped while some others will be merged to reduce the regular expenses of the government.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12&rdquo; While unveiling the budget for the upcoming fiscal year, Finance Minister Dr Prakash Sharan Mahat had announced that some government agencies/organizations will be scrapped while some others will be merged to reduce the regular expenses of the government. Meanwhile, stakeholders have expressed their displeasure over this decision saying that the government took such a move without any study, preparation and alternative arrangements.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">There has been a state of confusion after Finance Minister Mahat announced the decision to scrap 20 government agencies including the Cotton Development Committee at Khajura in Banke as well as the District Election Offices while announcing the budget for the fiscal year (FY) 2023/24 on May 29. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">This decision has worried the farmers of Banke and Bardia. Satish Niraula of Khajura said that this decision is unfortunate as jobs can be created by operating yarn industry along with cotton using equipment worth millions of rupees owned under the committee.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Cotton Development Committee with central office in Khajura, Banke, has sold cotton worth Rs 30 million in the current fiscal year (FY 2022/23). The committee&rsquo;s chairman Hemantraj Kafle said that 300 farmers have been selected and the required seeds and pesticides are already purchased as this is the right time for cotton cultivation. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;All the cotton in the warehouse has been sold, the demand is the same. Farmers here are earning a lot of income from cotton farming. It is sad that an organization that is trying to rise up is scrapped. Our capital has already reached Rs 100 million and it has been consistently profitable in recent years.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Chairman of the committee Kafle said that due to the increase in the demand for cotton in recent times, it is not possible to supply the product as per the demand. He informed that 100 tons of cotton purchased from farmers in the current season has been sold.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Finance Minister Mahat also announced the abolition of the National Dairy Development Board. Since the organization regulates dairy products and industry, brings concession package for farmers and makes policies/rules related to dairy industry, the stakeholders have come out against the decision. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Associations and organizations related to the dairy industry, including Nepal Dairy Science Association (NDSA), Nepal Dairy Association, Central Dairy Cooperative Association (CDCAN), Central Fisheries Promotion and Conservation Center (CFPCC), Nepal Animal Science Association and other organizations demanded that the government&#39;s decision should be reversed.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Tek Bahadur Thapa, president of NDSA said that it is sad that the regulatory body of the dairy industry, which contributes greatly to the total national production of the country, has been abolished. Ram Prasad Acharya, general secretary of the Central Dairy Cooperative Association, said that the National Dairy Development Board is a place for farmers to voice their opinion and that the cancellation is not justifiable.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 5 => array(
		'Article' => array(
			'id' => '18150',
			'article_category_id' => '1',
			'title' => 'Regulators and Traders Agree to Prevent Unauthorized Import and Use of Mobile Sets',
			'sub_title' => '',
			'summary' => 'June 12: Regulators and businessmen have agreed to fully comply with the implementation of the 'Mobile Device Management System' (MDMS) enforced by the government on May 15 to stop the sale and distribution of mobile phones illegally imported into Nepal.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12: Regulators and businessmen have agreed to fully comply with the implementation of the &#39;Mobile Device Management System&#39; (MDMS) enforced by the government on May 15 to stop the sale and distribution of mobile phones illegally imported into Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Mobile Phone Imports Association and Nepal Mobile Distributors Association held an interaction and press conference on MDMS implementation in Kathmandu and expressed that this system should be implemented strictly.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal Telecommunications Authority Chairman Purushottam Khanal said that the MDMS system has been implemented to prevent the unauthorized import and use of mobile sets in Nepal. He said that this system will stop the illegal trading and distribution of mobile phones and bring them into the revenue system, and it will also help in reducing criminal activities. Khanal claimed that this system will also be effective in preventing access of third parties to confidential and sensitive personal information in case of lost or stolen mobile phones.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Complaints about leaks in bank details and other personal information are received when mobile phones were lost or stolen. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;With the MDMS system, now stolen phones can be blocked immediately and can be made to stop working in any corner of the world,&quot; he said. He added that MDMS has been implemented to control mobiles that are stolen, lost, or brought without paying customs duty.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Mobile Phone Importers Association President Deepak Malhotra said that mobile phones worth around Rs 15 billion are being sold and distributed illegally, and the government is losing revenue worth Rs 3 to 4 billion annually. He said that some of the phones that come into use are stolen and consumers are paying the price because they cannot distinguish the illegal ones.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;Due to the sale of such mobile phones, there will be problems in criminal investigations and it also badly affects mobile traders,&quot; he said. He also claimed that the price of mobile phones will not increase after the implementation of MDMS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Chief of District Police Range, Kathmandu, SSP Dan Bahadur Karki, said that analyzing the use of mobile phones and social media in criminal investigations is crucial, so it is necessary to implement this system effectively. He said that it is also the police&#39;s job to investigate the mobile phones brought illegally without paying tax.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;Bringing mobile phones without paying customs duty is a crime in itself. People who want to make a profit from such actions cannot get immunity. They come into the legal sphere slowly,&quot; said Karki, &quot;The police also investigate crimes that occur through the use of illegal mobile phones.&quot;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He also said that consumers should not buy mobile phones without bills and packets. He said that two to three hundred mobile phones are lost every month, and it is difficult to track mobile sets that are not registered with the MDMS system.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Director of the Department of Customs Punya Bikram Khadka said that the implementation of the MDMS system is expected to increase the government&rsquo;s revenue. Revenue Research Department Director Binod Lamichhane said that MDMS will increase legal business and also consumers will benefit from it.</span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '18149',
			'article_category_id' => '1',
			'title' => 'DoA issues Circular to Preserve Archeological Structures while Expanding Suryabinayak-Dhulikhel Road',
			'sub_title' => '',
			'summary' => 'June 12: The Department of Archeology (DoA) has sent a circular to the District Administration Office, Kavrepalanchowk to stop destruction of archeological goods and structures while widening the Suryabinayak-Dhulikhel road.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: The Department of Archeology (DoA) has sent a circular to the District Administration Office, Kavrepalanchowk to stop destruction of archeological goods and structures while widening the Suryabinayak-Dhulikhel road.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The department urged the district administration office to stop bulldozing antique brick walls, sources of water, antique wooden and stone structures that were found at Banepa&rsquo;s Bhaisepati area along the Araniko Highway in course of the road excavation.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The department&#39;s Archeology Officer Bhishma Banskota informed that a circular was sent to the concerned authority on Sunday to immediately stop the act. The department decided to send the circular after archeologically valuable goods were ruined during the road widening drive.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Banskota further said that the department has also urged the authority to preserve antique brick walls, water sources, and ancient wooden and stone structures.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the department also wrote a letter to Banepa Municipality &ndash; located along the Araniko Highway to not allow actions that destroy archeologically-important structures in course of the road expansion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It may be noted that the expansion of the road from Suryabinayak of Bhaktapur to Dhulikhel of Kavrepalanchowk along the Araniko Highway had started since last March. Two separate contracts were awarded to the construction companies to complete the widening of Suryabinayak-Sanga and Sanga-Dhulikhel road sections within three years.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Suryabinayak-Dhulikhel, Dhulikhel-Sindhuli-Bardibas road project office, a contract of Rs 4.56 billion has been signed for the expansion of Sanga-Dhulikhel road. Likewise, another contract amounting to Rs 3.88 billion has been signed for the widening of 7.5-km road from Suryabinayak to Sanga. -- RSS</span></span></span></p>
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			'image' => '20230612020422_20230219013913_20220831041752_dhulikhel.jpg',
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	(int) 7 => array(
		'Article' => array(
			'id' => '18148',
			'article_category_id' => '1',
			'title' => 'Registration of New Companies Declining',
			'sub_title' => '',
			'summary' => 'June 12: Slowing down of economic activities seems to have taken the toll on private sector investment.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12: Slowing down of economic activities seems to have taken the toll on private sector investment. Data related to the registration of new companies, which showed continuous rise in the last two years, now show a significant decline in the current fiscal year, indicating that the morale of entrepreneurs and investors has deteriorated.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">By mid-March of the current FY, the number of company registration decreased by 30 percent compared to the same period of last year. Entrepreneurs say that even though they have made new plans, they are in the wait and watch stance to invest. A total of 15,187 new companies were registered till mid-March of the current FY in the Office of the Company Registrar, against 21,902 registrations in the last FY.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Economic Survey 2079/80, registration of new companies, which had been increasing since the FY 2070/71, decreased in the FY 2076/77. It again picked up pace in the following two years and declined again in the current FY.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Company Registrar&#39;s Office staff said that their workload has decreased this year. Mahesh Baral, registrar of the Company Registrar&#39;s Office said that there has been a decrease in company registrations this year. &ldquo;The crowd in the office has decreased. When the registration is low, the subsequent work also automatically decreases. Perhaps due to the current economic situation, there is no enthusiasm for registering new companies,&rdquo; he said.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The data released by the National Statistics Office in early May also showed that the growth rate of five sectors of the economy (mining and quarrying, industry, construction, trade, transport and warehousing) was negative.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Another employee of the Company Registrar&#39;s Office said, &ldquo;In addition to registration, updating work has also decreased, while the works related to share price have reduced by 90 percent.&rdquo; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A certain amount is offered when registering a company which must be deposited in the bank when buying the shares. The employee assumed that the businessmen did not have any money and did not come to the office for the works related to share price.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Majority of investors have stopped registering new companies as well as expanding their investment portfolio. An entrepreneur said, &ldquo;It is not possible for businessmen to register new company and expand investment in more areas with a solo effort. Some businessmen can do it, but the majority of them operate by taking loans up to 70 percent from the bank.&rdquo; He added that investors are not interested in new companies and new investments.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">They say that the banks don&rsquo;t give them loans. &ldquo;Even if they do so, the interest rate is in double digits. We are unable to sell goods in the market. All these factors have compelled us to focus on sustaining our business rather than establishing a new one.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Company Registrar&#39;s Office, altogether 307,735 companies have been registered as private and public companies so far.</span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '18147',
			'article_category_id' => '1',
			'title' => 'Disasters Likely to Affect around 1.25 Million People this Year: Study',
			'sub_title' => '',
			'summary' => 'June 12: As many as 1.25 million people are likely to be affected by monsoon in the country this year, it has been predicted. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: As many as 1.25 million people are likely to be affected by monsoon in the country this year, it has been predicted.&nbsp; A study carried out by the National Disaster Risk Reduction and Management Authority (NDRRMA) based on different scientific analysis has predicted that 1.25 million people of 286,098 households are likely to be affected by different disaster incidents this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The study has predicted that the incidents of natural disaster will mostly affect the Madhes Province followed by the Koshi Province. The incidents would affect around 400,000 people in the Madhes Province and 300, 000 people in the Koshi Province this year, the report stated.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the NDRRMA, disaster would affect 200,000 people in the Lumbini Province, 100,000 in the Bagmati Province, 147,000 in the Sudurpaschim Province, 69,000 in the Gandaki Province and 35,000 in Karnali Province.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Last year around two million people were predicted to be affected by the incidents of disasters.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In view of this, the government has intensified early preparedness and response efforts before the onset of monsoon in the country. The Ministry of Home Affairs has stepped up its preparation to put in place mechanisms to tackle disasters this year. -- RSS</span></span></span></p>
',
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			'description' => '',
			'sortorder' => '17877',
			'image' => '20230612114452_20211020080208_SBS_Kanchanpur-1.jpg',
			'article_date' => '2023-06-12 11:43:55',
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	(int) 9 => array(
		'Article' => array(
			'id' => '18146',
			'article_category_id' => '1',
			'title' => 'Tremor Jolts Bajura   ',
			'sub_title' => '',
			'summary' => 'June 12: An earthquake was recorded with epicenter at Bicchiya of Bajura district on Monday morning.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: An earthquake was recorded with epicenter at Bicchiya of Bajura district on Monday morning.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the National Earthquake Monitoring and Research Centre, Lainchaur, the earthquake measuring 4.4 in the Richter scale was felt in the district at 7.38 am this morning.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Prior to this, earthquakes with epicenter at Bichhaya were recorded several times in Bajura.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">An earthquake measuring 3.9 in the Richter scale had also rocked Sindhupalchowk district on May 28.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lately, earthquakes have been recurring frequently in the eastern and western parts of Nepal. Nepal&#39;s hill and mountainous areas are considered highly vulnerable to earthquakes. -- RSS&nbsp;&nbsp; </span></span></span></p>
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		'Article' => array(
			'id' => '18145',
			'article_category_id' => '1',
			'title' => 'Lawmakers Voice Mixed Views on Budget for 2023/2024',
			'sub_title' => '',
			'summary' => 'Lawmakers aired their mixed view on the government's policies, programmes and budget for the next fiscal year, 2023/24. Some of them praised that the budget had many good programmes while others termed it as unbalanced and incoherent.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">June 12: Lawmakers aired their mixed view on the government&#39;s policies, programmes and budget for the next fiscal year, 2023/24.&nbsp;Some of them praised that the budget had many good programmes while others termed it as unbalanced and incoherent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">While taking part in a &#39;general&#39; deliberation on the annual estimation of the government&#39;s revenues and expenditures for the next FY in Sunday&rsquo;s meeting of the House of Representatives, lawmakers expressed their ambivalent views on the upcoming budget. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">On the occasion, Roshan Karki termed the budget as ambitious despite having some positive programmes. He said that the budget lacks programmes aimed at uplifting women and backward communities.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">Similarly, Mahendra Bahadur Shahi claimed that the government&#39;s policies, programmes and budget lacked coherence. He criticized the uneven distribution of the budget and said that powerful individuals may have influenced the budget allocation. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">&nbsp;Similarly, Shishir Khanal said the budget has failed to bring effective programmes to improve economy. Meanwhile, Prakash Adhikari stressed the need for the government to resolve the issues including that of citizenship bill. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Calibri&quot;,sans-serif">Likewise, Prabhu Sah emphasized the adverse impact of expanding the tax ceiling on farmers, highlighting the economic scarcity as the country&#39;s primary challenge. Sah stressed the importance of finding alternative solutions to ensure the financial stability of farmers and foster agricultural development.</span></span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '18144',
			'article_category_id' => '1',
			'title' => 'Multi-billion Project on Regional Transport and Trade Connectivity Launched  ',
			'sub_title' => '',
			'summary' => 'June 11: The government and the World Bank jointly launched the project 'Accelerating Nepal’s regional transport and trade connectivity' (ACCESS) with an investment of Rs 34.96 billion on Sunday.    ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The government and the World Bank jointly launched the project &#39;Accelerating Nepal&rsquo;s regional transport and trade connectivity&#39; (ACCESS) with an investment of Rs 34.96 billion on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ACCESS project aims at improving trade and connectivity by reducing trade and transport costs and transit time along the selected corridors in Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The project was launched by Minister for Physical Infrastructure and Transport, Prakash Jwala, and the World Bank&rsquo;s Vice President for South Asia, Martin Raiser.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;&ldquo;The ACCESS project will help develop resilient infrastructure in Nepal and help unlock Nepal&rsquo;s economic potential through better connectivity and trade, both between the provinces as well as regionally,&rdquo; said Jwala.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;Under the project, the 69-km two-lane section of the Butwal-Gorusinghe-Chanauta road along the East-West Highway will be upgraded to a climate-resilient four-lane highway. With a focus on ensuring better road safety, the project is expected to reduce travel time by 30 percent, thus providing better access to India&rsquo;s western seaports.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Moreover, the project will construct at least three market areas with required internet and trade information facilities along the highway to help enhance economic opportunities, especially for women entrepreneurs and traders. It will also support advancing Nepal&rsquo;s preparedness and subsequent implementation of the Motor Vehicle Agreement signed by Bangladesh, Bhutan, India, and Nepal to allow smooth passage of goods and passenger vehicles in each other&rsquo;s territories.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;On the occasion, Raiser said, &ldquo;Enhanced trade and transport connectivity promotes economic integration and opens larger markets among South Asian countries. The ACCESS Project will help improve regional trade and promote sustainable infrastructure development to support Nepal&rsquo;s green, resilient, and inclusive development.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The undertaking will be implemented by the Ministry of Physical Infrastructure and Transport; Ministry of Industry, Commerce and Supplies; and Ministry of Forests and Environment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The project&rsquo;s financing agreement was signed by the government and the World Bank in September last year. -- RSS</span></span></span></p>
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		'Article' => array(
			'id' => '18143',
			'article_category_id' => '1',
			'title' => '4th Himalayan Travel Mart Concludes with Commitment to Revitalise Tourism   ',
			'sub_title' => '',
			'summary' => 'June 11: The 4th Himalayan Travel Mart (HTM) concluded on Saturday with the formulation of a strategic plan for revitalisation, promotion and sustainable development of tourism in the post COVID-19 era.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The 4th Himalayan Travel Mart (HTM) concluded on Saturday with the formulation of a strategic plan for revitalisation, promotion and sustainable development of tourism in the post COVID-19 era.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The travel mart hosted by the Ministry of Culture, Tourism and Civil Aviation and organised by the PATA (Pacific Asia Travel Association) Nepal Chapter in collaboration with the Nepal Tourism Board (NTB), the Nepal Airlines Corporation (NAC) and other tourism organisations was attended by more than 700 representatives from 25 countries. The four-day event was inaugurated by Prime Minister Pushpa Kamal Dahal on June 6. In his address during the inaugural session, PM Dahal said the travel mart has been a main forum for the promotion of tourism of the Himalayan Region including Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He also expressed the hope that the travel mart would play an important role in the promotion of Nepal&rsquo;s tourism while identifying the country as an entry point to the Himalayas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Tourism Secretary Suresh Adhikari said the conference offered an opportunity to establish contact with travel entrepreneurs from across the globe while exploring the potential of Nepal&rsquo;s tourism industry.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, executive chief of the NTB Dr Dhananjaya Regmi and executive chair of the NAC Yubaraj Adhikari expressed the hope that the event would help promote the country&rsquo;s tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">PATA Nepal Chapter President Bibhuti Chand Thakur said the travel mart had become effective in exploring new opportunities for the exchange of networks and trade, and promoting destinations for the sustainable development of tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The event held under the theme of &lsquo;Reconnecting, Rebuilding and Reinvigorating&rsquo;, witnessed participation of national and international speakers who discussed the potential of the aviation sector, and new international airports of Nepal. Issues ranging from the revival of Chinese tourists to the trend of European tourists, opportunities and sustainable development of tourism for Nepal, promotion of the possibility of regional tourism, climate change, sustainable tourism, adventure tourism and new practice in education were also discussed. The B2B Mart brought together 50 buyer organisations from the US, Europe, Russia and Commonwealth of Independent States, Asia and the UAE, and seller organisations from Nepal, Sri Lanka and Bhutan, according to a statement issued by the PATA Nepal Chapter.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the occasion, the ministry&rsquo;s secretary Adhikari announced that the 5th HTM would be organised in Kathmandu on June-4-7, 2024 jointly by the PATA Nepal Chapter and the NTB.&nbsp;&nbsp;&nbsp; -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'id' => '18142',
			'article_category_id' => '1',
			'title' => 'Budget Fails to Accept Realities of Economy: Former Finance Minister Paudel',
			'sub_title' => '',
			'summary' => 'June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal  year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal&nbsp; year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Taking part in the deliberations on the government&#39;s estimations of its annual revenue and expenditures for the upcoming fiscal year in a meeting of the House of Representatives (HoR) on Sunday, he said priorities and plans mentioned in the new policies and programmes were not given a space in the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;This budget lacks coherence and consistency with its policies and programmes and principles and priorities,&quot; he said. Matters of granting a discount on electricity tariff (up to 30 units in winter and up to 50 units during the monsoon) and the programme to develop the Geta Medical College as the Dashrath Chand Medical University are missing in the budget,&quot; he said.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The budget has failed to recognize the existing economic issues, assess its challenges and opportunities and present possible ways for the solutions, according to the leader.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;Economic growth below 2.16 percent, 7.5 percent consumer price inflation, current account deficit worth over Rs 54 billion and&nbsp; the situation suggesting the negative reserve fund by Rs two billion by the end of the current fiscal year have not been addressed by the budget,&quot; he said.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">As he evaluated, 7.96 percent banking loan disbursement to the private sector, negative Gross Domestic Growth in first and second quarters of the current fiscal year, economic slowdown, a significant loss in employment opportunities and skyrocketing prices suggest the Nepalese economy is marred by crisis.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He went on to say that 38.12 percent capital expenditure, mobilization of foreign grants less than 10 percent of the target and a fall in revenue collections: by 12 percent than the last fiscal and 56 percent of the target this year provided a room to question the government&rsquo;s capacity to effectively steer the national economy.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The projection of an economic growth in the upcoming year less than the current fiscal year and a fall in the appropriations suggest that the government is not capable of mobilizing the available resources fully, according to the lawmaker.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;The existing scenario of the capital market reflects the situation of the national economy,&quot; he said, adding that three years ago, the Nepal Stock Exchange Index had touched 3,200 points with daily turnover of up to Rs 20 billion. But now, it has dwindled to 1950 points with Rs two billion daily turnover.&nbsp; The market capitalization has shrunk from Rs 450 billion to Rs 280 billion,&quot; Paudel said, adding that none was ready to take responsibility for this negative picture of the capital market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to him, although the budget statement mentions decreasing the current expenditure, the current expenditure proposed for the upcoming fiscal year is more by Rs 97 billion compared to the current fiscal year&#39;s current expenditure. Poudel stated that the allocation towards capital expenditure, which was around 20 percent of the total budget on an average since the last six years, has been reduced to 17 per cent this time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;On the one hand it is mentioned in the budget that implementation of fiscal federalism would be emphasized while on the other hand the fiscal transfers to the province and local levels have been allocated with a deficit of Rs 29.75 billion as compared to the allocations of the current fiscal year. In this way, the resource management and the allocation made for the current and capital expenditures in this budget are unrealistic, unbelievable, self-contradictory and difficult to execute,&quot; argued the former finance minister.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Removing and downsizing the capacity of the past programmes like&nbsp; the Prime Minister Employment Program, the President Educational Reform Programme, the President Women Empowerment Programme, the Prime Minister Agriculture Modernization Programme, urbanization of the district headquarters of the Terai districts, industrial zone infrastructure and issuing loans keeping the academic qualification certificates as collateral, among others indicated that the budget is taking pleasure not in &#39;changing the game&rsquo; but only in &#39;changing the name&#39;, Poudel sarcastically said of the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He commented that the budget has not allocated money for providing compensation for health insurance, delimited the provision of asking for loans by keeping the academic certificates as collateral and scattered the budget even in the projects implemented by the local level wards and municipalities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The former finance minister said the budget has not addressed the potential of the water resources, tourism and agriculture sectors, and it lacked novelty. &quot;Rather, it is like the continuation of the past programmes ,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to him, some programmes in the budget were highly controversial. Stating that the programme of exporting stones and pebbles abroad by quarrying the Chure had met with opposition in the past, and wondered on what grounds this programme had been brought in the present budget. Likewise, Poudel expressed his objection regarding the beneficiary of the Citizen Pension Programme, its action plan and sources included in the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel also termed as inappropriate the decision made by the government through the budget statement to dissolve and merge 20 various government corporations for reducing the expenses. In his view, the government should cut down on the facilities of the president, the vice president, members of the Council of Ministers, and lawmakers among others to reduce expenditures.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The former finance minister also took exception to the provision of the budget providing Rs 50 million to the MP through the Parliamentary Constituency Infrastructure Development Programme. He also declared in the parliament that he wished to spend the amount under this programme he gets as a parliamentarian in the construction of infrastructures in the public education sector through the ministry concerned.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Former Finance Minister Poudel claimed the change in the tax rate in the budget is also not logical. He is of the view that the government should address the justified demands made by the private and cooperative sectors, and share market investors, saying they were dissatisfied with the tax proposed by the government.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Meanwhile, speaking in the meeting of the House of Representatives on Sunday, lawmaker Deepak Giri viewed that the parties should not be divided into ruling and opposition benches in policy matters as budget but should move ahead by making programmes collectively. He also called on the lawmakers to be responsible towards the citizens in addressing their problems, no matter how petty they might seem to be. Giri also called on the parliament to rethink the time of presenting the budget in parliament. --RSS</span></span></p>

<p>&nbsp;</p>
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			'id' => '18141',
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			'title' => 'Excessive Heat to Decline as Monsoon likely to Enter Nepal in a Few Days: MFD',
			'sub_title' => '',
			'summary' => 'June 11: The scorching heat has thrown life of people out of gear since the last few days.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The scorching heat has thrown life of people out of gear since the last few days.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Temperature in some parts of the country soared to as high as above 43 degrees Celsius. The situation may somehow ease as the monsoon is entering Nepal within some days, said the Meteorological Forecasting Division.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Based on weather analysis in the past 30 years, monsoon in general enters Nepal in mid-June and exits in the first week of October. Moisture-laden winds from the Bay of Bengal along with the Westerly winds, and the low pressure area from the surroundings of Bihar in India have had their impact, increasing the possibilities for the monsoon to enter Nepal on time, said meteorologist Rojan Lamichhane. &quot;Temperature has started to decrease in Koshi Province since Saturday. Clouds are forming, and factors required for monsoon are favourable,&quot; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the division, Koshi Province and some hill areas of the country will remain partially to generally cloudy, and the remaining parts will have clear sky. One or two parts of hill areas of Koshi Province are predicted to receive light rainfall, said Lamichhane. Temperature across the country will gradually go down, but it will remain constant for some more days that in the western Tarai, according to the division. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'title' => 'Nepal SBI Bank Receives 'Infosys Finacle Innovation Award 2023' for Mobile Banking Service ',
			'sub_title' => '',
			'summary' => 'Nepal SBI Bank has been honored with the 'Infosys Finacle Innovation Award 2023'.  The award was given for  excellent and comprehensive mobile banking service under “Channel Innovation Gold Award” category for YONO Nepal SBI, the mobile banking App.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">June 13:&nbsp; Nepal SBI Bank has been honored with the &#39;Infosys Finacle Innovation Award 2023&#39;.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The award was given for&nbsp; excellent and comprehensive mobile banking service under &ldquo;Channel Innovation Gold Award&rdquo; category for YONO Nepal SBI, the mobile banking App. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The bank has been providing its banking services through its 93 branches, 22 extension counters, 10 branchless banking systems, 7 province offices and 1 corporate office and 128 ATMs. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">YONO is a flagship app of State Bank of India (SBI) and is also recognized as a super app with the valuation over $40 billion.</span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Interest Rates of Banks Start Declining',
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			'summary' => 'June 12: With the improvement of the external sector of the economy, liquidity in the banks, and easing of the tight monetary policy implemented by the Nepal Rastra Bank (NRB), the interest rates of the banks have started to decline.',
			'content' => '<p><span style="font-size:18px">June 12: With the improvement of the external sector of the economy, liquidity in the banks, and easing of the tight monetary policy implemented by the Nepal Rastra Bank (NRB), the interest rates of the banks have started to decline.</span></p>

<p><span style="font-size:18px">NRB adopted a tight monetary policy previously due to high inflation, Covid-19 and Russia-Ukraine tensions, causing the interest rate of the banks to increase to double digits. According to NRB, the interest rate of banks reached a high point in February of the current fiscal year (FY), but has started decreasing after mid-March.</span></p>

<p><span style="font-size:18px">As the liquidity situation eased, the banks reduced the interest rate on deposits. As a result, interest rates on loans have become cheaper.</span></p>

<p><span style="font-size:18px">Apart from this, NRB also encouraged the reduction of interest rates through the review of the monetary policy.</span></p>

<p><span style="font-size:18px">Reviewing the monetary policy of the current fiscal year, NRB increased the bank rate by 1.5 percentage points to 8.5 percent, the policy rate from 5.5 percent to 7 percent, and the deposit collection rate from 4 percent to 5.5 percent. After the sharp criticism of the increase in interest rates, NRB announced to reduce the spread rate of banks through the first quarter review of monetary policy. Accordingly, commercial banks maintained the spread rate at 4.2 percent and development banks and finance companies at 4.8 percent from March.</span></p>

<p><span style="font-size:18px">From mid-June, commercial banks need to maintain a spread rate of 4 percent and development banks and finance companies need to maintain it at 4.6 percent. As the spread rate has decreased, the interest rate on loans of banks has become cheaper.</span></p>

<p><span style="font-size:18px">Similarly, from the half-yearly review of the monetary policy, NRB also reduced the overnight repo interest rate by 1.5 percentage points to 7 percent, reducing the cost of banks&#39; capital that impacted the interest rates. Likewise, from the third quarter review of monetary policy, the bank rate has been reduced by 1 percentage point to 7.5 percent.</span></p>

<p><span style="font-size:18px">The Nepal Bankers Association (NBA) as well reduced the interest on deposits to a single digit from mid-April and reduced the loan premium to a maximum of 5 percent only, causing the interest rate to decline. President of NBA Sunil KC said, &ldquo;The interest rate is decreasing due to NRB&rsquo;s policy and market conditions. We will be in a very comfortable situation by mid-July.&rdquo;</span></p>

<p><span style="font-size:18px">As the interest rate is decreasing, the bankers are expecting that the loans will be disbursed gradually. By April, deposits in banks and financial institutions increased by Rs 370.78 billion, while loans have only increased by Rs 153.17 billion.</span></p>

<p><span style="font-size:18px">By mid-April, remittance inflow increased by 23.4 percent and reached Rs 1051.8 billion. Similarly, the Balance of Payments is in surplus by 214.67 billion, which was at a loss of 288.5 billion last year. The total foreign exchange reserve which was equal to Rs 1215.8 billion in June 2022 increased by 20.9 percent and reached Rs 1470.33 billion in 2023.</span></p>

<p><span style="font-size:18px">The foreign exchange reserves are sufficient to support 11.2 months of goods imports and 9.7 months of goods and services imports.</span></p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '18154',
			'article_category_id' => '1',
			'title' => 'Nepal Has Lowest Customs Rates on Electric Vehicles in South Asia, Says FinMin Mahat',
			'sub_title' => '',
			'summary' => 'Minister of Finance Dr. Prakash Sharan Mahat has stated that the government has a clear policy to encourage the use of electric vehicles.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 12: Minister of Finance Dr. Prakash Sharan Mahat has stated that the government has a clear policy to encourage the use of electric vehicles.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Answering questions raised in the Federal Parliament regarding the upcoming fiscal year&#39;s budget, Dr. Mahat mentioned that Nepal has relatively low taxes compared to other SAARC countries for the promotion of electric vehicles.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">&quot;The customs duty rates for electric vehicles in SAARC countries, including Nepal, vary significantly. In India, for example, the tax rate is 35% for un-assembled vehicles, 60% for vehicles priced up to 40,000 US dollars, and 100% for vehicles with a higher value. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In Pakistan, the tax rate is 50%, in Bangladesh, it is around 90% including all kinds of taxes. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He further explained that the arrangement for lower taxes and subsidies for electric vehicles aims to make them more affordable compared to vehicles running on diesel and petrol.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">&ldquo;The average total tax rates imposed on vehicles powered by petrol and diesel range from 251% to 358% including road construction tax while the average tax rates levied on electric vehicles range from 24.30% to 189.28%,&rdquo; Dr Mahat added. </span></span></p>
',
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			'article_date' => '2023-06-12 16:59:07',
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	(int) 3 => array(
		'Article' => array(
			'id' => '18153',
			'article_category_id' => '1',
			'title' => 'Ruslan Vodka Marks Golden Jubilee with Launch of New Bottle Design ',
			'sub_title' => '',
			'summary' => 'Ruslan Vodka, a pioneer in the vodka industry, celebrates 50 years of excellence with unveiling of a stunning bottle design.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 12: Ruslan Vodka, a pioneer in the vodka industry, celebrates 50 years of excellence with an exciting new look. Since its establishment in 1973, Ruslan has been renowned for its unwavering commitment to exceptional quality, and now, to honor this remarkable milestone, the brand has unveiled&nbsp;a captivating bottle design.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">For half a century, Ruslan Vodka has consistently delighted consumers across the nation with its velvety smooth texture, exquisite flavor profiles, and remarkable versatility. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Embracing a spirit of innovation, Ruslan introduces its vibrant new bottle, which elegantly showcases a sleek, transparent aesthetic, reflecting purity and clarity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This newly unveiled bottle design beautifully pays homage to the brand&#39;s rich heritage while embracing forward-thinking innovation.</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The new design encapsulates the essence of Ruslan as a Versatile Vibrant Vodka, seamlessly blending tradition and modernity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Whether enjoyed straight, in cocktails, or over ice, Ruslan Vodka serves as a powerful symbol of celebration, joy, and cherished moments.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The vodka has captivated the hearts of countless enthusiasts, firmly establishing Ruslan as the preferred choice for discerning vodka connoisseurs.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Now available in premium transparent bottles of 750 ml, 375 ml, and 180 ml, Ruslan Vodka can be conveniently found at nearby stores, ready to elevate your enjoyment. </span></span></p>
',
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	(int) 4 => array(
		'Article' => array(
			'id' => '18151',
			'article_category_id' => '1',
			'title' => '‘Government’s Decision to Scrap Committees was a Hasty Decision’',
			'sub_title' => '',
			'summary' => 'June 12” While unveiling the budget for the upcoming fiscal year, Finance Minister Dr Prakash Sharan Mahat had announced that some government agencies/organizations will be scrapped while some others will be merged to reduce the regular expenses of the government.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12&rdquo; While unveiling the budget for the upcoming fiscal year, Finance Minister Dr Prakash Sharan Mahat had announced that some government agencies/organizations will be scrapped while some others will be merged to reduce the regular expenses of the government. Meanwhile, stakeholders have expressed their displeasure over this decision saying that the government took such a move without any study, preparation and alternative arrangements.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">There has been a state of confusion after Finance Minister Mahat announced the decision to scrap 20 government agencies including the Cotton Development Committee at Khajura in Banke as well as the District Election Offices while announcing the budget for the fiscal year (FY) 2023/24 on May 29. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">This decision has worried the farmers of Banke and Bardia. Satish Niraula of Khajura said that this decision is unfortunate as jobs can be created by operating yarn industry along with cotton using equipment worth millions of rupees owned under the committee.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Cotton Development Committee with central office in Khajura, Banke, has sold cotton worth Rs 30 million in the current fiscal year (FY 2022/23). The committee&rsquo;s chairman Hemantraj Kafle said that 300 farmers have been selected and the required seeds and pesticides are already purchased as this is the right time for cotton cultivation. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;All the cotton in the warehouse has been sold, the demand is the same. Farmers here are earning a lot of income from cotton farming. It is sad that an organization that is trying to rise up is scrapped. Our capital has already reached Rs 100 million and it has been consistently profitable in recent years.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Chairman of the committee Kafle said that due to the increase in the demand for cotton in recent times, it is not possible to supply the product as per the demand. He informed that 100 tons of cotton purchased from farmers in the current season has been sold.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Finance Minister Mahat also announced the abolition of the National Dairy Development Board. Since the organization regulates dairy products and industry, brings concession package for farmers and makes policies/rules related to dairy industry, the stakeholders have come out against the decision. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Associations and organizations related to the dairy industry, including Nepal Dairy Science Association (NDSA), Nepal Dairy Association, Central Dairy Cooperative Association (CDCAN), Central Fisheries Promotion and Conservation Center (CFPCC), Nepal Animal Science Association and other organizations demanded that the government&#39;s decision should be reversed.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Tek Bahadur Thapa, president of NDSA said that it is sad that the regulatory body of the dairy industry, which contributes greatly to the total national production of the country, has been abolished. Ram Prasad Acharya, general secretary of the Central Dairy Cooperative Association, said that the National Dairy Development Board is a place for farmers to voice their opinion and that the cancellation is not justifiable.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '18150',
			'article_category_id' => '1',
			'title' => 'Regulators and Traders Agree to Prevent Unauthorized Import and Use of Mobile Sets',
			'sub_title' => '',
			'summary' => 'June 12: Regulators and businessmen have agreed to fully comply with the implementation of the 'Mobile Device Management System' (MDMS) enforced by the government on May 15 to stop the sale and distribution of mobile phones illegally imported into Nepal.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12: Regulators and businessmen have agreed to fully comply with the implementation of the &#39;Mobile Device Management System&#39; (MDMS) enforced by the government on May 15 to stop the sale and distribution of mobile phones illegally imported into Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Mobile Phone Imports Association and Nepal Mobile Distributors Association held an interaction and press conference on MDMS implementation in Kathmandu and expressed that this system should be implemented strictly.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal Telecommunications Authority Chairman Purushottam Khanal said that the MDMS system has been implemented to prevent the unauthorized import and use of mobile sets in Nepal. He said that this system will stop the illegal trading and distribution of mobile phones and bring them into the revenue system, and it will also help in reducing criminal activities. Khanal claimed that this system will also be effective in preventing access of third parties to confidential and sensitive personal information in case of lost or stolen mobile phones.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Complaints about leaks in bank details and other personal information are received when mobile phones were lost or stolen. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;With the MDMS system, now stolen phones can be blocked immediately and can be made to stop working in any corner of the world,&quot; he said. He added that MDMS has been implemented to control mobiles that are stolen, lost, or brought without paying customs duty.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Mobile Phone Importers Association President Deepak Malhotra said that mobile phones worth around Rs 15 billion are being sold and distributed illegally, and the government is losing revenue worth Rs 3 to 4 billion annually. He said that some of the phones that come into use are stolen and consumers are paying the price because they cannot distinguish the illegal ones.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;Due to the sale of such mobile phones, there will be problems in criminal investigations and it also badly affects mobile traders,&quot; he said. He also claimed that the price of mobile phones will not increase after the implementation of MDMS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Chief of District Police Range, Kathmandu, SSP Dan Bahadur Karki, said that analyzing the use of mobile phones and social media in criminal investigations is crucial, so it is necessary to implement this system effectively. He said that it is also the police&#39;s job to investigate the mobile phones brought illegally without paying tax.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;Bringing mobile phones without paying customs duty is a crime in itself. People who want to make a profit from such actions cannot get immunity. They come into the legal sphere slowly,&quot; said Karki, &quot;The police also investigate crimes that occur through the use of illegal mobile phones.&quot;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He also said that consumers should not buy mobile phones without bills and packets. He said that two to three hundred mobile phones are lost every month, and it is difficult to track mobile sets that are not registered with the MDMS system.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Director of the Department of Customs Punya Bikram Khadka said that the implementation of the MDMS system is expected to increase the government&rsquo;s revenue. Revenue Research Department Director Binod Lamichhane said that MDMS will increase legal business and also consumers will benefit from it.</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '18149',
			'article_category_id' => '1',
			'title' => 'DoA issues Circular to Preserve Archeological Structures while Expanding Suryabinayak-Dhulikhel Road',
			'sub_title' => '',
			'summary' => 'June 12: The Department of Archeology (DoA) has sent a circular to the District Administration Office, Kavrepalanchowk to stop destruction of archeological goods and structures while widening the Suryabinayak-Dhulikhel road.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: The Department of Archeology (DoA) has sent a circular to the District Administration Office, Kavrepalanchowk to stop destruction of archeological goods and structures while widening the Suryabinayak-Dhulikhel road.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The department urged the district administration office to stop bulldozing antique brick walls, sources of water, antique wooden and stone structures that were found at Banepa&rsquo;s Bhaisepati area along the Araniko Highway in course of the road excavation.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The department&#39;s Archeology Officer Bhishma Banskota informed that a circular was sent to the concerned authority on Sunday to immediately stop the act. The department decided to send the circular after archeologically valuable goods were ruined during the road widening drive.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Banskota further said that the department has also urged the authority to preserve antique brick walls, water sources, and ancient wooden and stone structures.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the department also wrote a letter to Banepa Municipality &ndash; located along the Araniko Highway to not allow actions that destroy archeologically-important structures in course of the road expansion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It may be noted that the expansion of the road from Suryabinayak of Bhaktapur to Dhulikhel of Kavrepalanchowk along the Araniko Highway had started since last March. Two separate contracts were awarded to the construction companies to complete the widening of Suryabinayak-Sanga and Sanga-Dhulikhel road sections within three years.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Suryabinayak-Dhulikhel, Dhulikhel-Sindhuli-Bardibas road project office, a contract of Rs 4.56 billion has been signed for the expansion of Sanga-Dhulikhel road. Likewise, another contract amounting to Rs 3.88 billion has been signed for the widening of 7.5-km road from Suryabinayak to Sanga. -- RSS</span></span></span></p>
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		'Article' => array(
			'id' => '18148',
			'article_category_id' => '1',
			'title' => 'Registration of New Companies Declining',
			'sub_title' => '',
			'summary' => 'June 12: Slowing down of economic activities seems to have taken the toll on private sector investment.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12: Slowing down of economic activities seems to have taken the toll on private sector investment. Data related to the registration of new companies, which showed continuous rise in the last two years, now show a significant decline in the current fiscal year, indicating that the morale of entrepreneurs and investors has deteriorated.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">By mid-March of the current FY, the number of company registration decreased by 30 percent compared to the same period of last year. Entrepreneurs say that even though they have made new plans, they are in the wait and watch stance to invest. A total of 15,187 new companies were registered till mid-March of the current FY in the Office of the Company Registrar, against 21,902 registrations in the last FY.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Economic Survey 2079/80, registration of new companies, which had been increasing since the FY 2070/71, decreased in the FY 2076/77. It again picked up pace in the following two years and declined again in the current FY.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Company Registrar&#39;s Office staff said that their workload has decreased this year. Mahesh Baral, registrar of the Company Registrar&#39;s Office said that there has been a decrease in company registrations this year. &ldquo;The crowd in the office has decreased. When the registration is low, the subsequent work also automatically decreases. Perhaps due to the current economic situation, there is no enthusiasm for registering new companies,&rdquo; he said.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The data released by the National Statistics Office in early May also showed that the growth rate of five sectors of the economy (mining and quarrying, industry, construction, trade, transport and warehousing) was negative.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Another employee of the Company Registrar&#39;s Office said, &ldquo;In addition to registration, updating work has also decreased, while the works related to share price have reduced by 90 percent.&rdquo; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A certain amount is offered when registering a company which must be deposited in the bank when buying the shares. The employee assumed that the businessmen did not have any money and did not come to the office for the works related to share price.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Majority of investors have stopped registering new companies as well as expanding their investment portfolio. An entrepreneur said, &ldquo;It is not possible for businessmen to register new company and expand investment in more areas with a solo effort. Some businessmen can do it, but the majority of them operate by taking loans up to 70 percent from the bank.&rdquo; He added that investors are not interested in new companies and new investments.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">They say that the banks don&rsquo;t give them loans. &ldquo;Even if they do so, the interest rate is in double digits. We are unable to sell goods in the market. All these factors have compelled us to focus on sustaining our business rather than establishing a new one.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Company Registrar&#39;s Office, altogether 307,735 companies have been registered as private and public companies so far.</span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Disasters Likely to Affect around 1.25 Million People this Year: Study',
			'sub_title' => '',
			'summary' => 'June 12: As many as 1.25 million people are likely to be affected by monsoon in the country this year, it has been predicted. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: As many as 1.25 million people are likely to be affected by monsoon in the country this year, it has been predicted.&nbsp; A study carried out by the National Disaster Risk Reduction and Management Authority (NDRRMA) based on different scientific analysis has predicted that 1.25 million people of 286,098 households are likely to be affected by different disaster incidents this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The study has predicted that the incidents of natural disaster will mostly affect the Madhes Province followed by the Koshi Province. The incidents would affect around 400,000 people in the Madhes Province and 300, 000 people in the Koshi Province this year, the report stated.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the NDRRMA, disaster would affect 200,000 people in the Lumbini Province, 100,000 in the Bagmati Province, 147,000 in the Sudurpaschim Province, 69,000 in the Gandaki Province and 35,000 in Karnali Province.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Last year around two million people were predicted to be affected by the incidents of disasters.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In view of this, the government has intensified early preparedness and response efforts before the onset of monsoon in the country. The Ministry of Home Affairs has stepped up its preparation to put in place mechanisms to tackle disasters this year. -- RSS</span></span></span></p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '18146',
			'article_category_id' => '1',
			'title' => 'Tremor Jolts Bajura   ',
			'sub_title' => '',
			'summary' => 'June 12: An earthquake was recorded with epicenter at Bicchiya of Bajura district on Monday morning.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: An earthquake was recorded with epicenter at Bicchiya of Bajura district on Monday morning.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the National Earthquake Monitoring and Research Centre, Lainchaur, the earthquake measuring 4.4 in the Richter scale was felt in the district at 7.38 am this morning.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Prior to this, earthquakes with epicenter at Bichhaya were recorded several times in Bajura.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">An earthquake measuring 3.9 in the Richter scale had also rocked Sindhupalchowk district on May 28.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lately, earthquakes have been recurring frequently in the eastern and western parts of Nepal. Nepal&#39;s hill and mountainous areas are considered highly vulnerable to earthquakes. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'article_date' => '2023-06-12 11:17:23',
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	(int) 10 => array(
		'Article' => array(
			'id' => '18145',
			'article_category_id' => '1',
			'title' => 'Lawmakers Voice Mixed Views on Budget for 2023/2024',
			'sub_title' => '',
			'summary' => 'Lawmakers aired their mixed view on the government's policies, programmes and budget for the next fiscal year, 2023/24. Some of them praised that the budget had many good programmes while others termed it as unbalanced and incoherent.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">June 12: Lawmakers aired their mixed view on the government&#39;s policies, programmes and budget for the next fiscal year, 2023/24.&nbsp;Some of them praised that the budget had many good programmes while others termed it as unbalanced and incoherent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">While taking part in a &#39;general&#39; deliberation on the annual estimation of the government&#39;s revenues and expenditures for the next FY in Sunday&rsquo;s meeting of the House of Representatives, lawmakers expressed their ambivalent views on the upcoming budget. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">On the occasion, Roshan Karki termed the budget as ambitious despite having some positive programmes. He said that the budget lacks programmes aimed at uplifting women and backward communities.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">Similarly, Mahendra Bahadur Shahi claimed that the government&#39;s policies, programmes and budget lacked coherence. He criticized the uneven distribution of the budget and said that powerful individuals may have influenced the budget allocation. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">&nbsp;Similarly, Shishir Khanal said the budget has failed to bring effective programmes to improve economy. Meanwhile, Prakash Adhikari stressed the need for the government to resolve the issues including that of citizenship bill. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Calibri&quot;,sans-serif">Likewise, Prabhu Sah emphasized the adverse impact of expanding the tax ceiling on farmers, highlighting the economic scarcity as the country&#39;s primary challenge. Sah stressed the importance of finding alternative solutions to ensure the financial stability of farmers and foster agricultural development.</span></span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '18144',
			'article_category_id' => '1',
			'title' => 'Multi-billion Project on Regional Transport and Trade Connectivity Launched  ',
			'sub_title' => '',
			'summary' => 'June 11: The government and the World Bank jointly launched the project 'Accelerating Nepal’s regional transport and trade connectivity' (ACCESS) with an investment of Rs 34.96 billion on Sunday.    ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The government and the World Bank jointly launched the project &#39;Accelerating Nepal&rsquo;s regional transport and trade connectivity&#39; (ACCESS) with an investment of Rs 34.96 billion on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ACCESS project aims at improving trade and connectivity by reducing trade and transport costs and transit time along the selected corridors in Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The project was launched by Minister for Physical Infrastructure and Transport, Prakash Jwala, and the World Bank&rsquo;s Vice President for South Asia, Martin Raiser.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;&ldquo;The ACCESS project will help develop resilient infrastructure in Nepal and help unlock Nepal&rsquo;s economic potential through better connectivity and trade, both between the provinces as well as regionally,&rdquo; said Jwala.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;Under the project, the 69-km two-lane section of the Butwal-Gorusinghe-Chanauta road along the East-West Highway will be upgraded to a climate-resilient four-lane highway. With a focus on ensuring better road safety, the project is expected to reduce travel time by 30 percent, thus providing better access to India&rsquo;s western seaports.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Moreover, the project will construct at least three market areas with required internet and trade information facilities along the highway to help enhance economic opportunities, especially for women entrepreneurs and traders. It will also support advancing Nepal&rsquo;s preparedness and subsequent implementation of the Motor Vehicle Agreement signed by Bangladesh, Bhutan, India, and Nepal to allow smooth passage of goods and passenger vehicles in each other&rsquo;s territories.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;On the occasion, Raiser said, &ldquo;Enhanced trade and transport connectivity promotes economic integration and opens larger markets among South Asian countries. The ACCESS Project will help improve regional trade and promote sustainable infrastructure development to support Nepal&rsquo;s green, resilient, and inclusive development.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The undertaking will be implemented by the Ministry of Physical Infrastructure and Transport; Ministry of Industry, Commerce and Supplies; and Ministry of Forests and Environment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The project&rsquo;s financing agreement was signed by the government and the World Bank in September last year. -- RSS</span></span></span></p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '18143',
			'article_category_id' => '1',
			'title' => '4th Himalayan Travel Mart Concludes with Commitment to Revitalise Tourism   ',
			'sub_title' => '',
			'summary' => 'June 11: The 4th Himalayan Travel Mart (HTM) concluded on Saturday with the formulation of a strategic plan for revitalisation, promotion and sustainable development of tourism in the post COVID-19 era.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The 4th Himalayan Travel Mart (HTM) concluded on Saturday with the formulation of a strategic plan for revitalisation, promotion and sustainable development of tourism in the post COVID-19 era.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The travel mart hosted by the Ministry of Culture, Tourism and Civil Aviation and organised by the PATA (Pacific Asia Travel Association) Nepal Chapter in collaboration with the Nepal Tourism Board (NTB), the Nepal Airlines Corporation (NAC) and other tourism organisations was attended by more than 700 representatives from 25 countries. The four-day event was inaugurated by Prime Minister Pushpa Kamal Dahal on June 6. In his address during the inaugural session, PM Dahal said the travel mart has been a main forum for the promotion of tourism of the Himalayan Region including Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He also expressed the hope that the travel mart would play an important role in the promotion of Nepal&rsquo;s tourism while identifying the country as an entry point to the Himalayas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Tourism Secretary Suresh Adhikari said the conference offered an opportunity to establish contact with travel entrepreneurs from across the globe while exploring the potential of Nepal&rsquo;s tourism industry.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, executive chief of the NTB Dr Dhananjaya Regmi and executive chair of the NAC Yubaraj Adhikari expressed the hope that the event would help promote the country&rsquo;s tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">PATA Nepal Chapter President Bibhuti Chand Thakur said the travel mart had become effective in exploring new opportunities for the exchange of networks and trade, and promoting destinations for the sustainable development of tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The event held under the theme of &lsquo;Reconnecting, Rebuilding and Reinvigorating&rsquo;, witnessed participation of national and international speakers who discussed the potential of the aviation sector, and new international airports of Nepal. Issues ranging from the revival of Chinese tourists to the trend of European tourists, opportunities and sustainable development of tourism for Nepal, promotion of the possibility of regional tourism, climate change, sustainable tourism, adventure tourism and new practice in education were also discussed. The B2B Mart brought together 50 buyer organisations from the US, Europe, Russia and Commonwealth of Independent States, Asia and the UAE, and seller organisations from Nepal, Sri Lanka and Bhutan, according to a statement issued by the PATA Nepal Chapter.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the occasion, the ministry&rsquo;s secretary Adhikari announced that the 5th HTM would be organised in Kathmandu on June-4-7, 2024 jointly by the PATA Nepal Chapter and the NTB.&nbsp;&nbsp;&nbsp; -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '18142',
			'article_category_id' => '1',
			'title' => 'Budget Fails to Accept Realities of Economy: Former Finance Minister Paudel',
			'sub_title' => '',
			'summary' => 'June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal  year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal&nbsp; year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Taking part in the deliberations on the government&#39;s estimations of its annual revenue and expenditures for the upcoming fiscal year in a meeting of the House of Representatives (HoR) on Sunday, he said priorities and plans mentioned in the new policies and programmes were not given a space in the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;This budget lacks coherence and consistency with its policies and programmes and principles and priorities,&quot; he said. Matters of granting a discount on electricity tariff (up to 30 units in winter and up to 50 units during the monsoon) and the programme to develop the Geta Medical College as the Dashrath Chand Medical University are missing in the budget,&quot; he said.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The budget has failed to recognize the existing economic issues, assess its challenges and opportunities and present possible ways for the solutions, according to the leader.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;Economic growth below 2.16 percent, 7.5 percent consumer price inflation, current account deficit worth over Rs 54 billion and&nbsp; the situation suggesting the negative reserve fund by Rs two billion by the end of the current fiscal year have not been addressed by the budget,&quot; he said.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">As he evaluated, 7.96 percent banking loan disbursement to the private sector, negative Gross Domestic Growth in first and second quarters of the current fiscal year, economic slowdown, a significant loss in employment opportunities and skyrocketing prices suggest the Nepalese economy is marred by crisis.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He went on to say that 38.12 percent capital expenditure, mobilization of foreign grants less than 10 percent of the target and a fall in revenue collections: by 12 percent than the last fiscal and 56 percent of the target this year provided a room to question the government&rsquo;s capacity to effectively steer the national economy.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The projection of an economic growth in the upcoming year less than the current fiscal year and a fall in the appropriations suggest that the government is not capable of mobilizing the available resources fully, according to the lawmaker.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;The existing scenario of the capital market reflects the situation of the national economy,&quot; he said, adding that three years ago, the Nepal Stock Exchange Index had touched 3,200 points with daily turnover of up to Rs 20 billion. But now, it has dwindled to 1950 points with Rs two billion daily turnover.&nbsp; The market capitalization has shrunk from Rs 450 billion to Rs 280 billion,&quot; Paudel said, adding that none was ready to take responsibility for this negative picture of the capital market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to him, although the budget statement mentions decreasing the current expenditure, the current expenditure proposed for the upcoming fiscal year is more by Rs 97 billion compared to the current fiscal year&#39;s current expenditure. Poudel stated that the allocation towards capital expenditure, which was around 20 percent of the total budget on an average since the last six years, has been reduced to 17 per cent this time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;On the one hand it is mentioned in the budget that implementation of fiscal federalism would be emphasized while on the other hand the fiscal transfers to the province and local levels have been allocated with a deficit of Rs 29.75 billion as compared to the allocations of the current fiscal year. In this way, the resource management and the allocation made for the current and capital expenditures in this budget are unrealistic, unbelievable, self-contradictory and difficult to execute,&quot; argued the former finance minister.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Removing and downsizing the capacity of the past programmes like&nbsp; the Prime Minister Employment Program, the President Educational Reform Programme, the President Women Empowerment Programme, the Prime Minister Agriculture Modernization Programme, urbanization of the district headquarters of the Terai districts, industrial zone infrastructure and issuing loans keeping the academic qualification certificates as collateral, among others indicated that the budget is taking pleasure not in &#39;changing the game&rsquo; but only in &#39;changing the name&#39;, Poudel sarcastically said of the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He commented that the budget has not allocated money for providing compensation for health insurance, delimited the provision of asking for loans by keeping the academic certificates as collateral and scattered the budget even in the projects implemented by the local level wards and municipalities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The former finance minister said the budget has not addressed the potential of the water resources, tourism and agriculture sectors, and it lacked novelty. &quot;Rather, it is like the continuation of the past programmes ,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to him, some programmes in the budget were highly controversial. Stating that the programme of exporting stones and pebbles abroad by quarrying the Chure had met with opposition in the past, and wondered on what grounds this programme had been brought in the present budget. Likewise, Poudel expressed his objection regarding the beneficiary of the Citizen Pension Programme, its action plan and sources included in the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel also termed as inappropriate the decision made by the government through the budget statement to dissolve and merge 20 various government corporations for reducing the expenses. In his view, the government should cut down on the facilities of the president, the vice president, members of the Council of Ministers, and lawmakers among others to reduce expenditures.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The former finance minister also took exception to the provision of the budget providing Rs 50 million to the MP through the Parliamentary Constituency Infrastructure Development Programme. He also declared in the parliament that he wished to spend the amount under this programme he gets as a parliamentarian in the construction of infrastructures in the public education sector through the ministry concerned.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Former Finance Minister Poudel claimed the change in the tax rate in the budget is also not logical. He is of the view that the government should address the justified demands made by the private and cooperative sectors, and share market investors, saying they were dissatisfied with the tax proposed by the government.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Meanwhile, speaking in the meeting of the House of Representatives on Sunday, lawmaker Deepak Giri viewed that the parties should not be divided into ruling and opposition benches in policy matters as budget but should move ahead by making programmes collectively. He also called on the lawmakers to be responsible towards the citizens in addressing their problems, no matter how petty they might seem to be. Giri also called on the parliament to rethink the time of presenting the budget in parliament. --RSS</span></span></p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '18141',
			'article_category_id' => '1',
			'title' => 'Excessive Heat to Decline as Monsoon likely to Enter Nepal in a Few Days: MFD',
			'sub_title' => '',
			'summary' => 'June 11: The scorching heat has thrown life of people out of gear since the last few days.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The scorching heat has thrown life of people out of gear since the last few days.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Temperature in some parts of the country soared to as high as above 43 degrees Celsius. The situation may somehow ease as the monsoon is entering Nepal within some days, said the Meteorological Forecasting Division.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Based on weather analysis in the past 30 years, monsoon in general enters Nepal in mid-June and exits in the first week of October. Moisture-laden winds from the Bay of Bengal along with the Westerly winds, and the low pressure area from the surroundings of Bihar in India have had their impact, increasing the possibilities for the monsoon to enter Nepal on time, said meteorologist Rojan Lamichhane. &quot;Temperature has started to decrease in Koshi Province since Saturday. Clouds are forming, and factors required for monsoon are favourable,&quot; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the division, Koshi Province and some hill areas of the country will remain partially to generally cloudy, and the remaining parts will have clear sky. One or two parts of hill areas of Koshi Province are predicted to receive light rainfall, said Lamichhane. Temperature across the country will gradually go down, but it will remain constant for some more days that in the western Tarai, according to the division. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'id' => '18156',
			'article_category_id' => '1',
			'title' => 'Nepal SBI Bank Receives 'Infosys Finacle Innovation Award 2023' for Mobile Banking Service ',
			'sub_title' => '',
			'summary' => 'Nepal SBI Bank has been honored with the 'Infosys Finacle Innovation Award 2023'.  The award was given for  excellent and comprehensive mobile banking service under “Channel Innovation Gold Award” category for YONO Nepal SBI, the mobile banking App.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">June 13:&nbsp; Nepal SBI Bank has been honored with the &#39;Infosys Finacle Innovation Award 2023&#39;.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The award was given for&nbsp; excellent and comprehensive mobile banking service under &ldquo;Channel Innovation Gold Award&rdquo; category for YONO Nepal SBI, the mobile banking App. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The bank has been providing its banking services through its 93 branches, 22 extension counters, 10 branchless banking systems, 7 province offices and 1 corporate office and 128 ATMs. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">YONO is a flagship app of State Bank of India (SBI) and is also recognized as a super app with the valuation over $40 billion.</span></span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2023-06-13 05:50:00',
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			'id' => '18155',
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			'title' => 'Interest Rates of Banks Start Declining',
			'sub_title' => '',
			'summary' => 'June 12: With the improvement of the external sector of the economy, liquidity in the banks, and easing of the tight monetary policy implemented by the Nepal Rastra Bank (NRB), the interest rates of the banks have started to decline.',
			'content' => '<p><span style="font-size:18px">June 12: With the improvement of the external sector of the economy, liquidity in the banks, and easing of the tight monetary policy implemented by the Nepal Rastra Bank (NRB), the interest rates of the banks have started to decline.</span></p>

<p><span style="font-size:18px">NRB adopted a tight monetary policy previously due to high inflation, Covid-19 and Russia-Ukraine tensions, causing the interest rate of the banks to increase to double digits. According to NRB, the interest rate of banks reached a high point in February of the current fiscal year (FY), but has started decreasing after mid-March.</span></p>

<p><span style="font-size:18px">As the liquidity situation eased, the banks reduced the interest rate on deposits. As a result, interest rates on loans have become cheaper.</span></p>

<p><span style="font-size:18px">Apart from this, NRB also encouraged the reduction of interest rates through the review of the monetary policy.</span></p>

<p><span style="font-size:18px">Reviewing the monetary policy of the current fiscal year, NRB increased the bank rate by 1.5 percentage points to 8.5 percent, the policy rate from 5.5 percent to 7 percent, and the deposit collection rate from 4 percent to 5.5 percent. After the sharp criticism of the increase in interest rates, NRB announced to reduce the spread rate of banks through the first quarter review of monetary policy. Accordingly, commercial banks maintained the spread rate at 4.2 percent and development banks and finance companies at 4.8 percent from March.</span></p>

<p><span style="font-size:18px">From mid-June, commercial banks need to maintain a spread rate of 4 percent and development banks and finance companies need to maintain it at 4.6 percent. As the spread rate has decreased, the interest rate on loans of banks has become cheaper.</span></p>

<p><span style="font-size:18px">Similarly, from the half-yearly review of the monetary policy, NRB also reduced the overnight repo interest rate by 1.5 percentage points to 7 percent, reducing the cost of banks&#39; capital that impacted the interest rates. Likewise, from the third quarter review of monetary policy, the bank rate has been reduced by 1 percentage point to 7.5 percent.</span></p>

<p><span style="font-size:18px">The Nepal Bankers Association (NBA) as well reduced the interest on deposits to a single digit from mid-April and reduced the loan premium to a maximum of 5 percent only, causing the interest rate to decline. President of NBA Sunil KC said, &ldquo;The interest rate is decreasing due to NRB&rsquo;s policy and market conditions. We will be in a very comfortable situation by mid-July.&rdquo;</span></p>

<p><span style="font-size:18px">As the interest rate is decreasing, the bankers are expecting that the loans will be disbursed gradually. By April, deposits in banks and financial institutions increased by Rs 370.78 billion, while loans have only increased by Rs 153.17 billion.</span></p>

<p><span style="font-size:18px">By mid-April, remittance inflow increased by 23.4 percent and reached Rs 1051.8 billion. Similarly, the Balance of Payments is in surplus by 214.67 billion, which was at a loss of 288.5 billion last year. The total foreign exchange reserve which was equal to Rs 1215.8 billion in June 2022 increased by 20.9 percent and reached Rs 1470.33 billion in 2023.</span></p>

<p><span style="font-size:18px">The foreign exchange reserves are sufficient to support 11.2 months of goods imports and 9.7 months of goods and services imports.</span></p>

<p>&nbsp;</p>
',
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			'created' => '2023-06-12',
			'modified' => '2023-06-12',
			'keywords' => '',
			'description' => '',
			'sortorder' => '17885',
			'image' => '20230612070119_20230612031234_Banks - Copy.jpg',
			'article_date' => '2023-06-12 19:00:28',
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			'id' => '18154',
			'article_category_id' => '1',
			'title' => 'Nepal Has Lowest Customs Rates on Electric Vehicles in South Asia, Says FinMin Mahat',
			'sub_title' => '',
			'summary' => 'Minister of Finance Dr. Prakash Sharan Mahat has stated that the government has a clear policy to encourage the use of electric vehicles.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 12: Minister of Finance Dr. Prakash Sharan Mahat has stated that the government has a clear policy to encourage the use of electric vehicles.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Answering questions raised in the Federal Parliament regarding the upcoming fiscal year&#39;s budget, Dr. Mahat mentioned that Nepal has relatively low taxes compared to other SAARC countries for the promotion of electric vehicles.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">&quot;The customs duty rates for electric vehicles in SAARC countries, including Nepal, vary significantly. In India, for example, the tax rate is 35% for un-assembled vehicles, 60% for vehicles priced up to 40,000 US dollars, and 100% for vehicles with a higher value. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In Pakistan, the tax rate is 50%, in Bangladesh, it is around 90% including all kinds of taxes. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He further explained that the arrangement for lower taxes and subsidies for electric vehicles aims to make them more affordable compared to vehicles running on diesel and petrol.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">&ldquo;The average total tax rates imposed on vehicles powered by petrol and diesel range from 251% to 358% including road construction tax while the average tax rates levied on electric vehicles range from 24.30% to 189.28%,&rdquo; Dr Mahat added. </span></span></p>
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			'sortorder' => '17884',
			'image' => '20230612050021_collage (24).jpg',
			'article_date' => '2023-06-12 16:59:07',
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		'Article' => array(
			'id' => '18153',
			'article_category_id' => '1',
			'title' => 'Ruslan Vodka Marks Golden Jubilee with Launch of New Bottle Design ',
			'sub_title' => '',
			'summary' => 'Ruslan Vodka, a pioneer in the vodka industry, celebrates 50 years of excellence with unveiling of a stunning bottle design.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 12: Ruslan Vodka, a pioneer in the vodka industry, celebrates 50 years of excellence with an exciting new look. Since its establishment in 1973, Ruslan has been renowned for its unwavering commitment to exceptional quality, and now, to honor this remarkable milestone, the brand has unveiled&nbsp;a captivating bottle design.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">For half a century, Ruslan Vodka has consistently delighted consumers across the nation with its velvety smooth texture, exquisite flavor profiles, and remarkable versatility. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Embracing a spirit of innovation, Ruslan introduces its vibrant new bottle, which elegantly showcases a sleek, transparent aesthetic, reflecting purity and clarity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This newly unveiled bottle design beautifully pays homage to the brand&#39;s rich heritage while embracing forward-thinking innovation.</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The new design encapsulates the essence of Ruslan as a Versatile Vibrant Vodka, seamlessly blending tradition and modernity.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Whether enjoyed straight, in cocktails, or over ice, Ruslan Vodka serves as a powerful symbol of celebration, joy, and cherished moments.&nbsp;</span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The vodka has captivated the hearts of countless enthusiasts, firmly establishing Ruslan as the preferred choice for discerning vodka connoisseurs.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Now available in premium transparent bottles of 750 ml, 375 ml, and 180 ml, Ruslan Vodka can be conveniently found at nearby stores, ready to elevate your enjoyment. </span></span></p>
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			'id' => '18151',
			'article_category_id' => '1',
			'title' => '‘Government’s Decision to Scrap Committees was a Hasty Decision’',
			'sub_title' => '',
			'summary' => 'June 12” While unveiling the budget for the upcoming fiscal year, Finance Minister Dr Prakash Sharan Mahat had announced that some government agencies/organizations will be scrapped while some others will be merged to reduce the regular expenses of the government.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12&rdquo; While unveiling the budget for the upcoming fiscal year, Finance Minister Dr Prakash Sharan Mahat had announced that some government agencies/organizations will be scrapped while some others will be merged to reduce the regular expenses of the government. Meanwhile, stakeholders have expressed their displeasure over this decision saying that the government took such a move without any study, preparation and alternative arrangements.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">There has been a state of confusion after Finance Minister Mahat announced the decision to scrap 20 government agencies including the Cotton Development Committee at Khajura in Banke as well as the District Election Offices while announcing the budget for the fiscal year (FY) 2023/24 on May 29. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">This decision has worried the farmers of Banke and Bardia. Satish Niraula of Khajura said that this decision is unfortunate as jobs can be created by operating yarn industry along with cotton using equipment worth millions of rupees owned under the committee.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Cotton Development Committee with central office in Khajura, Banke, has sold cotton worth Rs 30 million in the current fiscal year (FY 2022/23). The committee&rsquo;s chairman Hemantraj Kafle said that 300 farmers have been selected and the required seeds and pesticides are already purchased as this is the right time for cotton cultivation. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;All the cotton in the warehouse has been sold, the demand is the same. Farmers here are earning a lot of income from cotton farming. It is sad that an organization that is trying to rise up is scrapped. Our capital has already reached Rs 100 million and it has been consistently profitable in recent years.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Chairman of the committee Kafle said that due to the increase in the demand for cotton in recent times, it is not possible to supply the product as per the demand. He informed that 100 tons of cotton purchased from farmers in the current season has been sold.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Finance Minister Mahat also announced the abolition of the National Dairy Development Board. Since the organization regulates dairy products and industry, brings concession package for farmers and makes policies/rules related to dairy industry, the stakeholders have come out against the decision. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Associations and organizations related to the dairy industry, including Nepal Dairy Science Association (NDSA), Nepal Dairy Association, Central Dairy Cooperative Association (CDCAN), Central Fisheries Promotion and Conservation Center (CFPCC), Nepal Animal Science Association and other organizations demanded that the government&#39;s decision should be reversed.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Tek Bahadur Thapa, president of NDSA said that it is sad that the regulatory body of the dairy industry, which contributes greatly to the total national production of the country, has been abolished. Ram Prasad Acharya, general secretary of the Central Dairy Cooperative Association, said that the National Dairy Development Board is a place for farmers to voice their opinion and that the cancellation is not justifiable.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&nbsp;</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '18150',
			'article_category_id' => '1',
			'title' => 'Regulators and Traders Agree to Prevent Unauthorized Import and Use of Mobile Sets',
			'sub_title' => '',
			'summary' => 'June 12: Regulators and businessmen have agreed to fully comply with the implementation of the 'Mobile Device Management System' (MDMS) enforced by the government on May 15 to stop the sale and distribution of mobile phones illegally imported into Nepal.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12: Regulators and businessmen have agreed to fully comply with the implementation of the &#39;Mobile Device Management System&#39; (MDMS) enforced by the government on May 15 to stop the sale and distribution of mobile phones illegally imported into Nepal.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Mobile Phone Imports Association and Nepal Mobile Distributors Association held an interaction and press conference on MDMS implementation in Kathmandu and expressed that this system should be implemented strictly.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal Telecommunications Authority Chairman Purushottam Khanal said that the MDMS system has been implemented to prevent the unauthorized import and use of mobile sets in Nepal. He said that this system will stop the illegal trading and distribution of mobile phones and bring them into the revenue system, and it will also help in reducing criminal activities. Khanal claimed that this system will also be effective in preventing access of third parties to confidential and sensitive personal information in case of lost or stolen mobile phones.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Complaints about leaks in bank details and other personal information are received when mobile phones were lost or stolen. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;With the MDMS system, now stolen phones can be blocked immediately and can be made to stop working in any corner of the world,&quot; he said. He added that MDMS has been implemented to control mobiles that are stolen, lost, or brought without paying customs duty.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Mobile Phone Importers Association President Deepak Malhotra said that mobile phones worth around Rs 15 billion are being sold and distributed illegally, and the government is losing revenue worth Rs 3 to 4 billion annually. He said that some of the phones that come into use are stolen and consumers are paying the price because they cannot distinguish the illegal ones.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;Due to the sale of such mobile phones, there will be problems in criminal investigations and it also badly affects mobile traders,&quot; he said. He also claimed that the price of mobile phones will not increase after the implementation of MDMS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Chief of District Police Range, Kathmandu, SSP Dan Bahadur Karki, said that analyzing the use of mobile phones and social media in criminal investigations is crucial, so it is necessary to implement this system effectively. He said that it is also the police&#39;s job to investigate the mobile phones brought illegally without paying tax.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&ldquo;Bringing mobile phones without paying customs duty is a crime in itself. People who want to make a profit from such actions cannot get immunity. They come into the legal sphere slowly,&quot; said Karki, &quot;The police also investigate crimes that occur through the use of illegal mobile phones.&quot;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He also said that consumers should not buy mobile phones without bills and packets. He said that two to three hundred mobile phones are lost every month, and it is difficult to track mobile sets that are not registered with the MDMS system.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Director of the Department of Customs Punya Bikram Khadka said that the implementation of the MDMS system is expected to increase the government&rsquo;s revenue. Revenue Research Department Director Binod Lamichhane said that MDMS will increase legal business and also consumers will benefit from it.</span></span></p>

<p>&nbsp;</p>
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			'id' => '18149',
			'article_category_id' => '1',
			'title' => 'DoA issues Circular to Preserve Archeological Structures while Expanding Suryabinayak-Dhulikhel Road',
			'sub_title' => '',
			'summary' => 'June 12: The Department of Archeology (DoA) has sent a circular to the District Administration Office, Kavrepalanchowk to stop destruction of archeological goods and structures while widening the Suryabinayak-Dhulikhel road.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: The Department of Archeology (DoA) has sent a circular to the District Administration Office, Kavrepalanchowk to stop destruction of archeological goods and structures while widening the Suryabinayak-Dhulikhel road.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The department urged the district administration office to stop bulldozing antique brick walls, sources of water, antique wooden and stone structures that were found at Banepa&rsquo;s Bhaisepati area along the Araniko Highway in course of the road excavation.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The department&#39;s Archeology Officer Bhishma Banskota informed that a circular was sent to the concerned authority on Sunday to immediately stop the act. The department decided to send the circular after archeologically valuable goods were ruined during the road widening drive.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Banskota further said that the department has also urged the authority to preserve antique brick walls, water sources, and ancient wooden and stone structures.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Likewise, the department also wrote a letter to Banepa Municipality &ndash; located along the Araniko Highway to not allow actions that destroy archeologically-important structures in course of the road expansion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">It may be noted that the expansion of the road from Suryabinayak of Bhaktapur to Dhulikhel of Kavrepalanchowk along the Araniko Highway had started since last March. Two separate contracts were awarded to the construction companies to complete the widening of Suryabinayak-Sanga and Sanga-Dhulikhel road sections within three years.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Suryabinayak-Dhulikhel, Dhulikhel-Sindhuli-Bardibas road project office, a contract of Rs 4.56 billion has been signed for the expansion of Sanga-Dhulikhel road. Likewise, another contract amounting to Rs 3.88 billion has been signed for the widening of 7.5-km road from Suryabinayak to Sanga. -- RSS</span></span></span></p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '18148',
			'article_category_id' => '1',
			'title' => 'Registration of New Companies Declining',
			'sub_title' => '',
			'summary' => 'June 12: Slowing down of economic activities seems to have taken the toll on private sector investment.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">June 12: Slowing down of economic activities seems to have taken the toll on private sector investment. Data related to the registration of new companies, which showed continuous rise in the last two years, now show a significant decline in the current fiscal year, indicating that the morale of entrepreneurs and investors has deteriorated.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">By mid-March of the current FY, the number of company registration decreased by 30 percent compared to the same period of last year. Entrepreneurs say that even though they have made new plans, they are in the wait and watch stance to invest. A total of 15,187 new companies were registered till mid-March of the current FY in the Office of the Company Registrar, against 21,902 registrations in the last FY.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Economic Survey 2079/80, registration of new companies, which had been increasing since the FY 2070/71, decreased in the FY 2076/77. It again picked up pace in the following two years and declined again in the current FY.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Company Registrar&#39;s Office staff said that their workload has decreased this year. Mahesh Baral, registrar of the Company Registrar&#39;s Office said that there has been a decrease in company registrations this year. &ldquo;The crowd in the office has decreased. When the registration is low, the subsequent work also automatically decreases. Perhaps due to the current economic situation, there is no enthusiasm for registering new companies,&rdquo; he said.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The data released by the National Statistics Office in early May also showed that the growth rate of five sectors of the economy (mining and quarrying, industry, construction, trade, transport and warehousing) was negative.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Another employee of the Company Registrar&#39;s Office said, &ldquo;In addition to registration, updating work has also decreased, while the works related to share price have reduced by 90 percent.&rdquo; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">A certain amount is offered when registering a company which must be deposited in the bank when buying the shares. The employee assumed that the businessmen did not have any money and did not come to the office for the works related to share price.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Majority of investors have stopped registering new companies as well as expanding their investment portfolio. An entrepreneur said, &ldquo;It is not possible for businessmen to register new company and expand investment in more areas with a solo effort. Some businessmen can do it, but the majority of them operate by taking loans up to 70 percent from the bank.&rdquo; He added that investors are not interested in new companies and new investments.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">They say that the banks don&rsquo;t give them loans. &ldquo;Even if they do so, the interest rate is in double digits. We are unable to sell goods in the market. All these factors have compelled us to focus on sustaining our business rather than establishing a new one.&rdquo;</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Company Registrar&#39;s Office, altogether 307,735 companies have been registered as private and public companies so far.</span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '18147',
			'article_category_id' => '1',
			'title' => 'Disasters Likely to Affect around 1.25 Million People this Year: Study',
			'sub_title' => '',
			'summary' => 'June 12: As many as 1.25 million people are likely to be affected by monsoon in the country this year, it has been predicted. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: As many as 1.25 million people are likely to be affected by monsoon in the country this year, it has been predicted.&nbsp; A study carried out by the National Disaster Risk Reduction and Management Authority (NDRRMA) based on different scientific analysis has predicted that 1.25 million people of 286,098 households are likely to be affected by different disaster incidents this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The study has predicted that the incidents of natural disaster will mostly affect the Madhes Province followed by the Koshi Province. The incidents would affect around 400,000 people in the Madhes Province and 300, 000 people in the Koshi Province this year, the report stated.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the NDRRMA, disaster would affect 200,000 people in the Lumbini Province, 100,000 in the Bagmati Province, 147,000 in the Sudurpaschim Province, 69,000 in the Gandaki Province and 35,000 in Karnali Province.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Last year around two million people were predicted to be affected by the incidents of disasters.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In view of this, the government has intensified early preparedness and response efforts before the onset of monsoon in the country. The Ministry of Home Affairs has stepped up its preparation to put in place mechanisms to tackle disasters this year. -- RSS</span></span></span></p>
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			'article_date' => '2023-06-12 11:43:55',
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		'Article' => array(
			'id' => '18146',
			'article_category_id' => '1',
			'title' => 'Tremor Jolts Bajura   ',
			'sub_title' => '',
			'summary' => 'June 12: An earthquake was recorded with epicenter at Bicchiya of Bajura district on Monday morning.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 12: An earthquake was recorded with epicenter at Bicchiya of Bajura district on Monday morning.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the National Earthquake Monitoring and Research Centre, Lainchaur, the earthquake measuring 4.4 in the Richter scale was felt in the district at 7.38 am this morning.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Prior to this, earthquakes with epicenter at Bichhaya were recorded several times in Bajura.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">An earthquake measuring 3.9 in the Richter scale had also rocked Sindhupalchowk district on May 28.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lately, earthquakes have been recurring frequently in the eastern and western parts of Nepal. Nepal&#39;s hill and mountainous areas are considered highly vulnerable to earthquakes. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'article_date' => '2023-06-12 11:17:23',
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	(int) 10 => array(
		'Article' => array(
			'id' => '18145',
			'article_category_id' => '1',
			'title' => 'Lawmakers Voice Mixed Views on Budget for 2023/2024',
			'sub_title' => '',
			'summary' => 'Lawmakers aired their mixed view on the government's policies, programmes and budget for the next fiscal year, 2023/24. Some of them praised that the budget had many good programmes while others termed it as unbalanced and incoherent.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">June 12: Lawmakers aired their mixed view on the government&#39;s policies, programmes and budget for the next fiscal year, 2023/24.&nbsp;Some of them praised that the budget had many good programmes while others termed it as unbalanced and incoherent. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">While taking part in a &#39;general&#39; deliberation on the annual estimation of the government&#39;s revenues and expenditures for the next FY in Sunday&rsquo;s meeting of the House of Representatives, lawmakers expressed their ambivalent views on the upcoming budget. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">On the occasion, Roshan Karki termed the budget as ambitious despite having some positive programmes. He said that the budget lacks programmes aimed at uplifting women and backward communities.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">Similarly, Mahendra Bahadur Shahi claimed that the government&#39;s policies, programmes and budget lacked coherence. He criticized the uneven distribution of the budget and said that powerful individuals may have influenced the budget allocation. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Segoe UI&quot;,sans-serif">&nbsp;Similarly, Shishir Khanal said the budget has failed to bring effective programmes to improve economy. Meanwhile, Prakash Adhikari stressed the need for the government to resolve the issues including that of citizenship bill. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:&quot;Calibri&quot;,sans-serif">Likewise, Prabhu Sah emphasized the adverse impact of expanding the tax ceiling on farmers, highlighting the economic scarcity as the country&#39;s primary challenge. Sah stressed the importance of finding alternative solutions to ensure the financial stability of farmers and foster agricultural development.</span></span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '18144',
			'article_category_id' => '1',
			'title' => 'Multi-billion Project on Regional Transport and Trade Connectivity Launched  ',
			'sub_title' => '',
			'summary' => 'June 11: The government and the World Bank jointly launched the project 'Accelerating Nepal’s regional transport and trade connectivity' (ACCESS) with an investment of Rs 34.96 billion on Sunday.    ',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The government and the World Bank jointly launched the project &#39;Accelerating Nepal&rsquo;s regional transport and trade connectivity&#39; (ACCESS) with an investment of Rs 34.96 billion on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The ACCESS project aims at improving trade and connectivity by reducing trade and transport costs and transit time along the selected corridors in Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The project was launched by Minister for Physical Infrastructure and Transport, Prakash Jwala, and the World Bank&rsquo;s Vice President for South Asia, Martin Raiser.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;&ldquo;The ACCESS project will help develop resilient infrastructure in Nepal and help unlock Nepal&rsquo;s economic potential through better connectivity and trade, both between the provinces as well as regionally,&rdquo; said Jwala.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;Under the project, the 69-km two-lane section of the Butwal-Gorusinghe-Chanauta road along the East-West Highway will be upgraded to a climate-resilient four-lane highway. With a focus on ensuring better road safety, the project is expected to reduce travel time by 30 percent, thus providing better access to India&rsquo;s western seaports.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Moreover, the project will construct at least three market areas with required internet and trade information facilities along the highway to help enhance economic opportunities, especially for women entrepreneurs and traders. It will also support advancing Nepal&rsquo;s preparedness and subsequent implementation of the Motor Vehicle Agreement signed by Bangladesh, Bhutan, India, and Nepal to allow smooth passage of goods and passenger vehicles in each other&rsquo;s territories.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&nbsp;On the occasion, Raiser said, &ldquo;Enhanced trade and transport connectivity promotes economic integration and opens larger markets among South Asian countries. The ACCESS Project will help improve regional trade and promote sustainable infrastructure development to support Nepal&rsquo;s green, resilient, and inclusive development.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The undertaking will be implemented by the Ministry of Physical Infrastructure and Transport; Ministry of Industry, Commerce and Supplies; and Ministry of Forests and Environment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The project&rsquo;s financing agreement was signed by the government and the World Bank in September last year. -- RSS</span></span></span></p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '18143',
			'article_category_id' => '1',
			'title' => '4th Himalayan Travel Mart Concludes with Commitment to Revitalise Tourism   ',
			'sub_title' => '',
			'summary' => 'June 11: The 4th Himalayan Travel Mart (HTM) concluded on Saturday with the formulation of a strategic plan for revitalisation, promotion and sustainable development of tourism in the post COVID-19 era.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The 4th Himalayan Travel Mart (HTM) concluded on Saturday with the formulation of a strategic plan for revitalisation, promotion and sustainable development of tourism in the post COVID-19 era.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The travel mart hosted by the Ministry of Culture, Tourism and Civil Aviation and organised by the PATA (Pacific Asia Travel Association) Nepal Chapter in collaboration with the Nepal Tourism Board (NTB), the Nepal Airlines Corporation (NAC) and other tourism organisations was attended by more than 700 representatives from 25 countries. The four-day event was inaugurated by Prime Minister Pushpa Kamal Dahal on June 6. In his address during the inaugural session, PM Dahal said the travel mart has been a main forum for the promotion of tourism of the Himalayan Region including Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He also expressed the hope that the travel mart would play an important role in the promotion of Nepal&rsquo;s tourism while identifying the country as an entry point to the Himalayas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Tourism Secretary Suresh Adhikari said the conference offered an opportunity to establish contact with travel entrepreneurs from across the globe while exploring the potential of Nepal&rsquo;s tourism industry.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, executive chief of the NTB Dr Dhananjaya Regmi and executive chair of the NAC Yubaraj Adhikari expressed the hope that the event would help promote the country&rsquo;s tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">PATA Nepal Chapter President Bibhuti Chand Thakur said the travel mart had become effective in exploring new opportunities for the exchange of networks and trade, and promoting destinations for the sustainable development of tourism.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The event held under the theme of &lsquo;Reconnecting, Rebuilding and Reinvigorating&rsquo;, witnessed participation of national and international speakers who discussed the potential of the aviation sector, and new international airports of Nepal. Issues ranging from the revival of Chinese tourists to the trend of European tourists, opportunities and sustainable development of tourism for Nepal, promotion of the possibility of regional tourism, climate change, sustainable tourism, adventure tourism and new practice in education were also discussed. The B2B Mart brought together 50 buyer organisations from the US, Europe, Russia and Commonwealth of Independent States, Asia and the UAE, and seller organisations from Nepal, Sri Lanka and Bhutan, according to a statement issued by the PATA Nepal Chapter.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the occasion, the ministry&rsquo;s secretary Adhikari announced that the 5th HTM would be organised in Kathmandu on June-4-7, 2024 jointly by the PATA Nepal Chapter and the NTB.&nbsp;&nbsp;&nbsp; -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '18142',
			'article_category_id' => '1',
			'title' => 'Budget Fails to Accept Realities of Economy: Former Finance Minister Paudel',
			'sub_title' => '',
			'summary' => 'June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal  year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal&nbsp; year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Taking part in the deliberations on the government&#39;s estimations of its annual revenue and expenditures for the upcoming fiscal year in a meeting of the House of Representatives (HoR) on Sunday, he said priorities and plans mentioned in the new policies and programmes were not given a space in the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;This budget lacks coherence and consistency with its policies and programmes and principles and priorities,&quot; he said. Matters of granting a discount on electricity tariff (up to 30 units in winter and up to 50 units during the monsoon) and the programme to develop the Geta Medical College as the Dashrath Chand Medical University are missing in the budget,&quot; he said.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The budget has failed to recognize the existing economic issues, assess its challenges and opportunities and present possible ways for the solutions, according to the leader.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;Economic growth below 2.16 percent, 7.5 percent consumer price inflation, current account deficit worth over Rs 54 billion and&nbsp; the situation suggesting the negative reserve fund by Rs two billion by the end of the current fiscal year have not been addressed by the budget,&quot; he said.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">As he evaluated, 7.96 percent banking loan disbursement to the private sector, negative Gross Domestic Growth in first and second quarters of the current fiscal year, economic slowdown, a significant loss in employment opportunities and skyrocketing prices suggest the Nepalese economy is marred by crisis.&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He went on to say that 38.12 percent capital expenditure, mobilization of foreign grants less than 10 percent of the target and a fall in revenue collections: by 12 percent than the last fiscal and 56 percent of the target this year provided a room to question the government&rsquo;s capacity to effectively steer the national economy.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The projection of an economic growth in the upcoming year less than the current fiscal year and a fall in the appropriations suggest that the government is not capable of mobilizing the available resources fully, according to the lawmaker.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;The existing scenario of the capital market reflects the situation of the national economy,&quot; he said, adding that three years ago, the Nepal Stock Exchange Index had touched 3,200 points with daily turnover of up to Rs 20 billion. But now, it has dwindled to 1950 points with Rs two billion daily turnover.&nbsp; The market capitalization has shrunk from Rs 450 billion to Rs 280 billion,&quot; Paudel said, adding that none was ready to take responsibility for this negative picture of the capital market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to him, although the budget statement mentions decreasing the current expenditure, the current expenditure proposed for the upcoming fiscal year is more by Rs 97 billion compared to the current fiscal year&#39;s current expenditure. Poudel stated that the allocation towards capital expenditure, which was around 20 percent of the total budget on an average since the last six years, has been reduced to 17 per cent this time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;On the one hand it is mentioned in the budget that implementation of fiscal federalism would be emphasized while on the other hand the fiscal transfers to the province and local levels have been allocated with a deficit of Rs 29.75 billion as compared to the allocations of the current fiscal year. In this way, the resource management and the allocation made for the current and capital expenditures in this budget are unrealistic, unbelievable, self-contradictory and difficult to execute,&quot; argued the former finance minister.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Removing and downsizing the capacity of the past programmes like&nbsp; the Prime Minister Employment Program, the President Educational Reform Programme, the President Women Empowerment Programme, the Prime Minister Agriculture Modernization Programme, urbanization of the district headquarters of the Terai districts, industrial zone infrastructure and issuing loans keeping the academic qualification certificates as collateral, among others indicated that the budget is taking pleasure not in &#39;changing the game&rsquo; but only in &#39;changing the name&#39;, Poudel sarcastically said of the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He commented that the budget has not allocated money for providing compensation for health insurance, delimited the provision of asking for loans by keeping the academic certificates as collateral and scattered the budget even in the projects implemented by the local level wards and municipalities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The former finance minister said the budget has not addressed the potential of the water resources, tourism and agriculture sectors, and it lacked novelty. &quot;Rather, it is like the continuation of the past programmes ,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to him, some programmes in the budget were highly controversial. Stating that the programme of exporting stones and pebbles abroad by quarrying the Chure had met with opposition in the past, and wondered on what grounds this programme had been brought in the present budget. Likewise, Poudel expressed his objection regarding the beneficiary of the Citizen Pension Programme, its action plan and sources included in the budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel also termed as inappropriate the decision made by the government through the budget statement to dissolve and merge 20 various government corporations for reducing the expenses. In his view, the government should cut down on the facilities of the president, the vice president, members of the Council of Ministers, and lawmakers among others to reduce expenditures.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The former finance minister also took exception to the provision of the budget providing Rs 50 million to the MP through the Parliamentary Constituency Infrastructure Development Programme. He also declared in the parliament that he wished to spend the amount under this programme he gets as a parliamentarian in the construction of infrastructures in the public education sector through the ministry concerned.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Former Finance Minister Poudel claimed the change in the tax rate in the budget is also not logical. He is of the view that the government should address the justified demands made by the private and cooperative sectors, and share market investors, saying they were dissatisfied with the tax proposed by the government.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Meanwhile, speaking in the meeting of the House of Representatives on Sunday, lawmaker Deepak Giri viewed that the parties should not be divided into ruling and opposition benches in policy matters as budget but should move ahead by making programmes collectively. He also called on the lawmakers to be responsible towards the citizens in addressing their problems, no matter how petty they might seem to be. Giri also called on the parliament to rethink the time of presenting the budget in parliament. --RSS</span></span></p>

<p>&nbsp;</p>
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			'title' => 'Excessive Heat to Decline as Monsoon likely to Enter Nepal in a Few Days: MFD',
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			'summary' => 'June 11: The scorching heat has thrown life of people out of gear since the last few days.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">June 11: The scorching heat has thrown life of people out of gear since the last few days.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Temperature in some parts of the country soared to as high as above 43 degrees Celsius. The situation may somehow ease as the monsoon is entering Nepal within some days, said the Meteorological Forecasting Division.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Based on weather analysis in the past 30 years, monsoon in general enters Nepal in mid-June and exits in the first week of October. Moisture-laden winds from the Bay of Bengal along with the Westerly winds, and the low pressure area from the surroundings of Bihar in India have had their impact, increasing the possibilities for the monsoon to enter Nepal on time, said meteorologist Rojan Lamichhane. &quot;Temperature has started to decrease in Koshi Province since Saturday. Clouds are forming, and factors required for monsoon are favourable,&quot; he said.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the division, Koshi Province and some hill areas of the country will remain partially to generally cloudy, and the remaining parts will have clear sky. One or two parts of hill areas of Koshi Province are predicted to receive light rainfall, said Lamichhane. Temperature across the country will gradually go down, but it will remain constant for some more days that in the western Tarai, according to the division. -- RSS&nbsp;&nbsp; </span></span></span></p>
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FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00