Prime Minister Pushpa Kamal Dahal 'Prachanda' has pledged to bring anyone involved in the fake Bhutanese refugee scandal to…
Prime Minister Pushpa Kamal Dahal 'Prachanda' has pledged to bring anyone involved in the fake Bhutanese refugee scandal to…
Regular flights have started to and from the Resunga Airport in Gulmi from…
May 12: It has become difficult for the government to pay pension to retired…
May 12: Air pollution has started to go up again across the country due to lack of rainfall and growing incidents of forest fire.…
May 12: The Embassy of Israel celebrated 75 years of Israel’s Independence by organizing a special programme in…
May 12: Nepal Rastra Bank (NRB) has reduced the bank rate by one percentage point to 7.5…
May 12: The process of distributing new stock exchange license by the Securities Board of Nepal (SEBON) has been postponed…
May 12: The Tatopani transit point on the Nepal-China border in Sindhupalchok district had opened for full-fledged operation on May 1, raising high hopes of increased trade.…
May 12: Deputy Prime Minister and Minister for Home Affairs, Narayan Kaji Shrestha, has said the government will crack down the nexus involved in the scam of sending people to the US in the cover of Bhutanese…
May 12: The Second International Travel Mart 2023 kicked off in Lumbini on…
“The National Banking Discourse- 2023” is scheduled to be held at Soaltee Hotel in Kathmandu on May 16. The aim of the discourse is to explore solutions to the financial challenges currently faced by the country. Organized by Bankingsamachar.com and sponsored by Nabil Bank Limited, this event promises to provide insightful discussions on various key…
Finance Minister Dr Prakash Sharan Mahat held a productive meeting with heads and representatives of international development partners in Nepal to discuss the budget for the upcoming fiscal year 2080/081…
Nepal Airlines Corporation (NAC) has formed a sub-committee to forward a plan to procure two…
May 11: The government is in the process of preparing the budget for the next fiscal year (FY…
Nepal has been a laboratory for different parties and institution to experiment their system of government and ideologies for much of its modern history. It is high time we avoid experimenting with another political…
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', 'content' => '<p><br /> May 12: Prime Minister Pushpa Kamal Dahal 'Prachanda' has pledged to bring anyone involved in the fake Bhutanese refugee scandal to justice. </p> <p>Receiving the memo submitted by the Rastriya Prajatantra Party (RPP) in the Office of the Prime Minister and Council of Ministers today, PM Dahal asserted that the government was clear that the guilty must not be spared while the innocent ones should not be prosecuted in the scam.</p> <p> Police have been busting the racket sending people to the United States identifying them as the Bhutanese refugee. Over a dozen of people have been arrested in connection to the scam including some high-profile individuals.</p> <p> The PM assured the RPP team that there will not be any influence of pressure in the ongoing investigation into the scam. Stating that the incumbent government was fully committed for the implementation of the good-governance, prosperity and constitution, Dahal said that he will not give into any pressure or influence regarding the scam. </p> <p>RPP Chairperson Lingden, in the memo, demanded an investigation into the property of the political leadership and bureaucrats after the 2046 BS. </p> <p>Talking to media persons after submitting the memo to the PM, RPP Chair Lingden shared that they had drawn the attention of the PM towards impartial investigation into the fake Bhutanese refugee scam. </p> <p>The PM acknowledged the memo and assured there will not be any error regarding the investigation into the scam, said Lingden, quoting the PM as saying. ---RSS <br /> <br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17578', 'image' => '20230512071900_collage (8).jpg', 'article_date' => '2023-05-12 19:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17846', 'article_category_id' => '1', 'title' => 'NAC Starts Regular Flight at Resunga Airport ', 'sub_title' => '', 'summary' => 'Regular flights have started to and from the Resunga Airport in Gulmi from Friday. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 12: Regular flights have started to and from the Resunga Airport in Gulmi from Friday. </span></p> <p><span style="font-size:18px">The Twin Otter aircraft of Nepal Airlines Corporation has started operating regular flights. The Nepal Airlines Corporation (NAC) has prepared to operate flights on Tuesdays as well. </span></p> <p><span style="font-size:18px">The NAC’s aircraft had successfully conducted a test flight at Resunga airport two weeks ago, confirming that people from Gulmi could avail air service. </span></p> <p><span style="font-size:18px">Akhileshwor Pandey, a resident of Ward No. 1 of Resunga Municipality, who was the first passenger to come in the commercial flight, said that he felt safe, comfortable, and reliable and reached his home district quickly.</span></p> <p><span style="font-size:18px">Furthermore, Parvati Bhusal of the Gulmi Durbar Rural Municipality-2 said that she could arrive Gulmi from Kathmandu in a short time. “The air connectivity has brought Gulmi and Kathmandu closer,” said Bhusal.</span></p> <p><span style="font-size:18px"> The aircraft that flew from Tribhuvan International Airport in Kathmandu at 6:30 am landed at Resunga Airport at 7:15 AM. According to Captain Manish Bista, the captain of the flight, flight along the Kathmandu- Resunga airport will now be regular every Friday.</span></p> <p><span style="font-size:18px"> "Looking at the condition of the airport during the test, we conducted the flight in the morning. There will be flights only on Fridays for now, and we have prepared to operate flights on Tuesdays as well," said Captain Bista.</span></p> <p><span style="font-size:18px">Khildhowj Panthi, chief of Resunga Municipality, shared that NAC had started its flight to Resunga Airport after prolonged efforts. “The direct flight from TIA to Resunga Airport has made dream of the people of Gulmi to avail air service a reality,” Panthii added.</span></p> <p><span style="font-size:18px">Panthi expressed his happiness for the start of regular air services from the airport. He said that the airport would be a milestone for the development of the municipality and surrounding areas. </span></p> <p><span style="font-size:18px">On the first commercial flight of the NAC, 14 passengers were on board the plane that landed at the Resunga Airport. The NAC aircraft had departed from the Resunga Airport with 14 passengers on board in its return flight. </span></p> <p><span style="font-size:18px">The NAC is preparing to carry 18 passengers on its next flight as per aircraft’s capacity. The fare has been set at Rs. 6,300 per passenger.</span></p> <p><span style="font-size:18px">Earlier, Tara Air's plane had conducted a test flight at the Resunga Airport on June 8, 2018 and December 29, 2018. However, the plane's flights were suspended citing expensive fare. </span></p> <p><span style="font-size:18px">The airport is spread over an area of 156 ropanis and was constructed at a cost of Rs. 35 crores. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17577', 'image' => '20230512050848_collage (7).jpg', 'article_date' => '2023-05-12 17:01:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17845', 'article_category_id' => '1', 'title' => 'Government Struggling to Manage Pension Fund', 'sub_title' => '', 'summary' => 'May 12: It has become difficult for the government to pay pension to retired employees.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 12: It has become difficult for the government to pay pension to retired employees. The burden on the state is increasing with the increase in the average life expectancy and decline in the working age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since the Civil Service Act is not up to date, and government employees who want to continue working and are capable of working within the age limit have had to retire, causing an extra burden to the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The average life expectancy of Nepalese was 35.2 years in 1959 and the mandatory retirement age was 60 years. The Civil Service Act, 2049 reduced the retirement age to 58 years as per the recommendation of the High Level Administration Reform Commission formed by the then Prime Minister Girija Prasad Koirala. The retirement age for judges and university professors is higher than this at 66 years and 63 years respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">At the time when the Act was promulgated, the average life expectancy of a Nepali had reached 56 years and employees who retired at the age of 60 did not need to be given pension for many years. At the time of promulgation of the Civil Service Act, 2049, it appears that the citizens eligible to enter the civil service were born in the year 2031 (when the period of service entry was set at 18 years). In the year 2031, the average life expectancy of Nepali based on birth was 41 years.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Politics in age limit</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the sources, the retirement age was reduced via the Civil Service Act to remove some of the high-ranking employees accustomed to the Panchayat System, who refused to help the new government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Initially, it was thought that it would last only for a short time, but no one took the initiative to change it to 60 years later. The Public Expenditure Review Commission formed under the coordination of Dr Dilliraj Khanal also recommended increasing the retirement age of civil servants to 60 years. As per the report, he said, “In order to reduce the increased liability in pension, the retirement age of all types of public service should be raised to 60 years and only after reaching this age, provision should be made for them to get pension.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The retirement arrangement has not changed, but the average life expectancy will increase, so the state has to give long-term pensions to those who retire at the age of 58. Now the average life expectancy of Nepalis has reached over 71 years. Experts say that the average life expectancy of those who worked in the civil service is more. The government has to pay pension to them for more than 13 years after retirement.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">The number of pensioners increasing</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of pensioners is consistently increasing. As of April 27, 2023, this number stands at 294,000. This is an average increase of 3,039 civil servants in the last 5 years. Similarly, 2,825 policemen, 2,750 teachers, and 4,320 Nepalese Army personnel have been added as well.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Bishnu Prasad Kharel, the head of the Pension Management Office, the additional number of employees who come for pension after taking annual leave is 12,935 on an average, including the army, police, and teachers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The average growth rate of the last 5 years is 6.45 percent,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, last year, the salary of the government employees was increased by almost 15 percent, affecting the pension as well. However, when the budget requested to the government was not provided on time, there was a problem in paying pensions to the retired employees in March and April. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“We did not know that there would be an increase in the salary. Out of the budget of Rs 65 billion requested for pensions, only Rs 52 billion was allocated. As the budget was not enough, we corresponded to allocate more budget. Some amount has been released while some amount is in the process of being released,” said Kharel.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17576', 'image' => '20230512025410_1675890384_1.jpg', 'article_date' => '2023-05-12 14:53:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17843', 'article_category_id' => '1', 'title' => 'Air Pollution Increasing Again ', 'sub_title' => '', 'summary' => 'May 12: Air pollution has started to go up again across the country due to lack of rainfall and growing incidents of forest fire. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: Air pollution has started to go up again across the country due to lack of rainfall and growing incidents of forest fire. According to the latest Air Quality Index (AQI), the AQI at Patan, Lalitpur is 176 and it is 163 at Kirtipur, 163 at Ratnapark in Kathmandu, 171 at Narayani and 155 at Dhankuta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">AQI from 0 to 50 is considered normal and above 150 is hazardous. The AQI in Patan, Kirtipur, Ratnapark, Narayani and Dhankuta is above 150. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Health experts have advised wearing mask while going out of the house as air pollution is likely to harm the health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govinda Jha said haze is seen at many places including in the Kathmandu Valley since the morning due to the increased air pollution. According to him, air pollution is likely to further increase as there is no immediate likelihood of rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said the air in Bhaktpaur, Madhyapur Thimi and Birendranagar is at risk of pollution. The AQI at these places is less than 150. Experts say that people suffering from chronic diseases, children and the elderly people are at risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vehicle emission is also another cause for the increasing level of air pollution. -- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17575', 'image' => '20230512023718_Clipboard09(31).jpg', 'article_date' => '2023-05-12 14:35:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17844', 'article_category_id' => '1', 'title' => 'Israel Marks Diamond Jubilee Independence Day Celebrations', 'sub_title' => '', 'summary' => 'May 12: The Embassy of Israel celebrated 75 years of Israel’s Independence by organizing a special programme in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 12: The Embassy of Israel celebrated 75 years of Israel’s Independence by organizing a special programme in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Issuing a statement on Thursday, the embassy said that the event was attended by Vice President Ramsahay Prasad Yadav who was among the 400 guests from among the government officials, foreign diplomats and media fraternity members.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Welcoming the guests, Ambassador of Israel to Nepal Hanan Goder said, “Israel and Nepal share common values and challenges. As both are small countries, we must always build bridges of good relations with similar countries. Nepal and Israel were and will always remain close friends.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prime Minister of Israel Benjamin Netanyahu offered his congratulations in a video message saying: “75 years ago, we emerged from the Holocaust… today, Israel is a rising power among the world… We have become the example of how you build something seemingly from nothing. We do more with less… We’ve built this, based on the age-old dream that we never gave up to return to our homeland; to rebuild our national life, to be able to defend ourselves, to be able to create and forge a future of peace.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a video message, Minister for Foreign Affairs of Israel Eli Cohen said, “Even when things seem difficult and impossible, think about what we have managed to build and accomplish in just 75 years of independence. Anything is possible, with a little faith.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Israeli seeds were gifted to the guests as a symbol for growth and prosperity.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17574', 'image' => '20230512025227_IMG_2741.jpg', 'article_date' => '2023-05-12 14:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17842', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Bank Rate by 1 Percentage Point', 'sub_title' => 'Interest on Loans and Deposits Likely to Decrease', 'summary' => 'May 12: Nepal Rastra Bank (NRB) has reduced the bank rate by one percentage point to 7.5 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 12: Nepal Rastra Bank (NRB) has reduced the bank rate by one percentage point to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The central bank on Friday released the third quarterly review of the monetary policy for the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">22/23 and reduced the bank rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Along with this, it is estimated that the interest rate on loans and deposits may likely decrease. Bank rate affects the interest rate of loans and deposits. If the bank rate increases, the interest rate will increase and if it decreases, the interest rate will decrease.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank said that the policy rate has been kept unchanged at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Similarly, the NRB has kept the other rates under the interest rate corridor unchanged.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the central bank, the policy rate has been kept unchanged considering the prospects of the foreign exchange reserve to support imports as well as the policy rate of neighboring country and the difference between the inflation rates between the two countries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17573', 'image' => '20230512020352_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-05-12 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17841', 'article_category_id' => '1', 'title' => 'Distribution of New Stock Exchange License Postponed Again', 'sub_title' => '', 'summary' => 'May 12: The process of distributing new stock exchange license by the Securities Board of Nepal (SEBON) has been postponed again.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 12: The process of distributing new stock exchange license by the Securities Board of Nepal (SEBON) has been postponed again.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has decided to halt the license distribution process of the new stock exchange for the time being.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the Council of Ministers on Tuesday decided to proceed ahead with the license distribution process only after further study as questions were raised in the parliament regarding the license of the new stock exchange.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the information provided by the Ministry of Finance, the Council of Ministers has instructed the concerned bodies to proceed with the process only after further study keeping in mind the interests of the investors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the instructions of the Council of Ministers, the Ministry of Finance said it will write letter to SEBON regarding this issue on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the license distribution process of the new stock exchange was postponed due to two separate cases filed at the Supreme Court. The process went ahead after the court quashed the petitions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Three companies have applied for the license of the new stock exchange. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A dispute had surfaced regarding one of the three companies that applied for the new stock exchange license. The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17572', 'image' => '20230512014025_1683867885.Untitled design (11).jpg', 'article_date' => '2023-05-12 13:38:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17840', 'article_category_id' => '1', 'title' => 'Tatopani Transit Point Handling only Limited Cargo Exports', 'sub_title' => '', 'summary' => 'May 12: The Tatopani transit point on the Nepal-China border in Sindhupalchok district had opened for full-fledged operation on May 1, raising high hopes of increased trade. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: The Tatopani transit point on the Nepal-China border in Sindhupalchok district had opened for full-fledged operation on May 1, raising high hopes of increased trade. The transit point was opened more than three years after it was initially closed to control the COVID-19 outbreak in March 2020. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the export through this transit point is not going up as expected. It is seeing partial exports only. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Three containers loaded with utensils and handicraft goods ready for export to Shigatse, China are stuck at Tatopani dry port. These goods were destined for Shigatse in response to the demand placed by Chinese traders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The export is almost non-existent. It has been a week now since the export clearance forms for this consignment were filled up. Instead of the exports picking up pace, even the number of containers carrying imported goods through this transit point is decreasing day by day," said Dayananda KC, chief customs officer at Tatopani Customs Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to KC, although the export through the transit point has been opened, it is only partial. With the opening of export, Nepali traders can now take containers carrying goods for export, including herbs and food grain, up to the midpoint of the Nepal-China Friendship Bridge on the border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Movement of people and normal vehicles is allowed up to Khasa. Only the export of cargo vehicles that has come to a standstill," Chief Customs Officer KC said. His observation is that Nepalis cannot supply adequate goods for export through the transit point like before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the export of food grains, vegetables as well as herbs up to Khasa used to be a good source of income of Nepalis. Around 500 Nepalis used to reside in Khasa as a permanent residents running different activities including hotels. But there is no people in Khasa now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali businesspersons bring apples, garlic and clothes in 6-7 containers up to the Friendship Bridge towards Nepal through Silk Company from Khasa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Silk Company, Bijay Sherpa said that the Nepali businessmen had requested the Chinese side to allow them to go up to Khasa during a recent meeting but they were not positive about it. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had set a target of collecting Rs 4.62 billion in revenue in the current fiscal year from this customs point, but only Rs 2.20 billion has been collected so far. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17571', 'image' => '20230512122723_20211109014016_20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2023-05-12 12:26:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17839', 'article_category_id' => '1', 'title' => 'DPM Shrestha Assures No One will be Spared in Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 12: Deputy Prime Minister and Minister for Home Affairs, Narayan Kaji Shrestha, has said the government will crack down the nexus involved in the scam of sending people to the US in the cover of Bhutanese refugees. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: Deputy Prime Minister and Minister for Home Affairs, Narayan Kaji Shrestha, has said the government will crack down the nexus involved in the scam of sending people to the US in the cover of Bhutanese refugees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his meeting with the leaders of CPN (Unified Socialist on Thursday, the home minister said anyone else found guilty in the case would be prosecuted while no innocent will be framed for the incident. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing the scam as a crime against the state, he said this is not just a case of corruption but an organised crime involving the people from top to bottom. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“This is the crime against the state to make the people statelessness." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that he faced no political pressure for actions against those involved in the scandal, he pledged to conclude the matter substantively. He took time to say that he found Prime Minister Pushpa Kamal Dahal as his strong back-up support for government action against those involved in the fake Bhutanese refugees scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Deputy Prime Minister Shrestha, he has already directed the police administration to go with the investigations against the case confidently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Unified Socialist leaders applauded the government's move in the case and expressed their solidarity against the crime. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17570', 'image' => '20230512114342_1683803227.jpg', 'article_date' => '2023-05-12 11:41:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17838', 'article_category_id' => '1', 'title' => 'Second International Travel Mart begins in Lumbini ', 'sub_title' => '', 'summary' => 'May 12: The Second International Travel Mart 2023 kicked off in Lumbini on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: The Second International Travel Mart 2023 kicked off in Lumbini on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The three-day travel mart is being organized by Ministry of Culture, Tourism and Civil Aviation, Nepal Tourism Board and Nepal Association of Tour and Travels with the objective of bringing in tourists to Lumbini. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice Chairman of Lumbini Development Trust Monk Maittaye (Abadesh Kumar Tripathi) inaugurated the travel mart. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the trust's Vice Chairman Maittaye said that the Buddhist followers should begin their journey from Lumbini itself. He said that Lumbini is a vital site for promoting inspiration, peace and goodwill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Secretary at the Ministry of Tourism Development Suresh Adhikari stated that the Travel Mart was orgnaised to make the country's tourism industry more vibrant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretary at the Ministry of Foreign Affairs Dhan Bahadur Oli, Chief Executive Officer of Nepal Tourism Board Dr Dhananjaya Regmi and Chairman of Hotel Association of Nepal Binayak Shah addressed the event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Twenty eight travel and tour companies from India, Malaysia, China, South Korea, Bangladesh, Myanmar, Thailand, Sri Lanka and other countries are attending the travel mart. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17569', 'image' => '20230512110739_LumbiniRSS.jpg', 'article_date' => '2023-05-12 11:06:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17837', 'article_category_id' => '1', 'title' => 'The National Banking Discourse-2023 to Be Held on May 16', 'sub_title' => '', 'summary' => '“The National Banking Discourse- 2023” is scheduled to be held at Soaltee Hotel in Kathmandu on May 16. The aim of the discourse is to explore solutions to the financial challenges currently faced by the country. Organized by Bankingsamachar.com and sponsored by Nabil Bank Limited, this event promises to provide insightful discussions on various key topics.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 12: “The National Banking Discourse- 2023” is scheduled to be held at Soaltee Hotel in Kathmandu on May 16. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The aim of the discourse is to explore solutions to the financial challenges currently faced by the country. Organized by Bankingsamachar.com and sponsored by Nabil Bank Limited, this event promises to provide insightful discussions on various key topics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The discourse will center on several pertinent issues such as the expectations from the new budget in the current economic climate, the status of digitization of the financial service eco-system, and the present and future of remittance-dependent economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Additionally, there will be discussions on the necessity of financial literacy for long-term and sustainable development. The discourse will also delve into the state of banking, including the problem of high-interest rates, liquidity issues, rumors that lower trust in banks and financial institutions, and the pressure placed on banks through monetary policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">One of the primary objectives of the discourse is to protect big industries while promoting small, medium, and start-up industries. The program aims to explore productive, employment-oriented, and export-oriented areas for investment and to help solve policy-level problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">With the world economy still recovering from the post-COVID-19 pandemic and the recent increase in petroleum and food prices due to Russia's war on Ukraine, this discourse is of significant importance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Notably, the discourse will feature distinguished guests, including the Finance Minister, the NRB Governor, and other dignitaries. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17568', 'image' => '20230512064702_collage (14).jpg', 'article_date' => '2023-05-12 06:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17836', 'article_category_id' => '1', 'title' => 'FinMin Mahat Discusses Budget with International Development Partners', 'sub_title' => '', 'summary' => 'Finance Minister Dr Prakash Sharan Mahat held a productive meeting with heads and representatives of international development partners in Nepal to discuss the budget for the upcoming fiscal year 2080/081 today.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 11: Finance Minister Dr Prakash Sharan Mahat held a productive meeting with heads and representatives of international development partners in Nepal to discuss the budget for the upcoming fiscal year 2080/081 today. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, the Finance Minister shared the government's priorities and the guidelines and principles that will be taken into account for the upcoming budget. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He expressed the government's commitment to making maximum use of available resources while ensuring that investments are directed towards productive sectors to help pay both the principal and interest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The international development partners in attendance expressed their support for the government's priorities and programs, and pledged to mobilize foreign aid through Nepal's national policy, system, and structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They also offered valuable suggestions to improve capital expenditure, management of public institutions, avoiding duplication of expenditure, and the preparation of blueprints for internal resource mobilization.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, there were suggestions to increase investment in health, education, social security, and nutrition, expand the scope of taxes, improve capital expenditure and gradually shift the informal sector to the formal sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Finance Minister also called for substantial subsidies and foreign loans, including aid to address the impact of climate change, which Nepal is not responsible for.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the multilateral development partners such as the World Bank, Asian Development Bank, International Monetary Fund, International Finance Corporation, United States Agency for International Development, Embassies of Japan, Korea, Switzerland, Norway, Finland, Germany, and the European Union were present in the meeting.</span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17567', 'image' => '20230511062708_collage (6).jpg', 'article_date' => '2023-05-11 18:25:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17835', 'article_category_id' => '1', 'title' => 'NAC to Purchase Two Airplanes', 'sub_title' => '', 'summary' => 'Nepal Airlines Corporation (NAC) has formed a sub-committee to forward a plan to procure two airplanes. ', 'content' => '<p><span style="font-size:18px">May 11: Nepal Airlines Corporation (NAC) has formed a sub-committee to forward a plan to procure two airplanes. </span></p> <p><span style="font-size:18px">The national flag-carrier has brought this plan for purchasing two aircrafts to operate flights in urban destinations to increase air connectivity at the provincial level, according to the NAC.</span></p> <p><span style="font-size:18px">A meeting of the NAC Board of Directors held on May 9 formed a nine-member sub-committee headed by Senior Captain Sudhir Samsher Rai for this purpose.</span></p> <p><span style="font-size:18px"> The sub-committee has started its work with the goal of submitting a report within 21 days. </span></p> <p><span style="font-size:18px">NAC has not been able to operate flights to the urban and commercially viable areas at present due to the shortage of aircraft to fly to airports in the urban areas, reads the statement issued by the NAC. </span></p> <p><span style="font-size:18px">“With the procurement of new aircrafts, NAC can operate provincial flights from Kathmandu, Biratnagar, Bhairahawa, Pokhara, Nepalgunj, Dhangadhi, among other cities to increase air connectivity," according to the NAC. ---RSS</span><br /> </p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17566', 'image' => '20230511053940_collage (5).jpg', 'article_date' => '2023-05-11 17:38:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17834', 'article_category_id' => '1', 'title' => 'Private Sector Expects Budget to Focus on Production Growth', 'sub_title' => '', 'summary' => 'May 11: The government is in the process of preparing the budget for the next fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 11: The government is in the process of preparing the budget for the next fiscal year (FY 2023/24)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has asked for suggestions from the stakeholders regarding the next year's budget. Stakeholders emphasized that the upcoming budget should solve the problems faced by the economy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anil Aggarwal, president of Birgunj Chamber of Commerce and Industry, says that the government should identify the real needs and address those issue through the budget instead of announcing a populist budget with catchy slogans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“If we look at the budgets of the past few years, there is a tendency to unveil a big budget with catchy slogans and plans first, and then to downsize the budget after six months. Such a budget cannot solve the problems," said Agarwal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hari Gautam, senior vice president of the association, says that the world economy is heading towards recession since the outbreak of coronavirus pandemic, and the budget should address this issue in order to protect the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The main objective of the budget should be to increase production and employment. For this, the budget should prioritize industry and production," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Experts say that the size of the budget is usually big just to please the people through populist programmes rather that those necessary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They also claim that the implementation of such a budget will be weak. They suggest that the government should be serious about this as the budget is not only a statement of income and expenditure but also the basis of development plans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Subodh Kumar Gupta, chairman of the Trade Committee under the Federation of Nepalese Chamber of Commerce and Industry, says that the budget should address the concerns of the industry and business sector. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Production and trade are complementary to each other. In the past, when the government controlled the business, the production was also affected," argues Gupta. "Instead of control the business, what is needed now is the policy of facilitation." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He suggests that the government should also pay attention to the impacts on the consumers when changing the policy related to any business.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anup Aggarwal, the former president of the Nepalese Youth Entrepreneurs Forum, says that the government should ease the policy to promote entrepreneurship. He said that a policy should be taken to connect youth and entrepreneurship. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Now is the time for innovation. A policy to encourage start-up and innovation is necessary,” said Agarwal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Young entrepreneurs are of the opinion that the budget should prioritize the use of technology and maximum utilization of opportunities in the economy. Entrepreneurs have requested to come up with a solid plan to solve the problem of lack of liquidity and high interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At a time when there is a slowdown in business due to the coronavirus pandemic, the current capital loan guideline has added to the problems of the business community. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Madhav Rajpal, another vice president of Birgunj Chamber of Industry and Commerce, said that the government must release billions of rupees that have not been paid to the builders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Industries related to construction materials can flourish only when the government releases the fund to the builders. This can have a cyclical effect on the overall economy,” said Rajpal.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17565', 'image' => '20230511021044_1683767264.jpg', 'article_date' => '2023-05-11 14:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17833', 'article_category_id' => '251', 'title' => 'Nepal: A Laboratory for Political Experimentation ', 'sub_title' => '', 'summary' => 'Nepal has been a laboratory for different parties and institution to experiment their system of government and ideologies for much of its modern history. It is high time we avoid experimenting with another political set-up. ', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">May 11: Nepal, a small landlocked country sandwiched between India and China, has been a political laboratory for much of its modern history. From the early 1900s to the present day, Nepal has experimented with various governance system, and political ideologies in its quest to establish a stable and prosperous society. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Corruption, irregularities, lack of inclusivity, monopoly over resources and myopic leadership have led to the frequent shift of political power and governance model, making the country a testing ground of political forces and centuries-old institution of monarchy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Rana regime in Nepal, also known as the Rana dynasty, was an autocratic regime that lasted from 1846 to 1951. The Ranas were a powerful noble family who held de facto control over the government of Nepal during this period, with the titular king serving as a figurehead. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas were able to maintain their grip on power through a combination of military force, political manipulation, and suppression of dissent. Under the Rana regime, there was little to no political freedom or democratic participation, and civil liberties were severely restricted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas implemented a strict caste-based social hierarchy, with themselves at the top, and the majority of the population subjected to various forms of discrimination and exploitation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1951, a popular uprising led to the downfall of the Rana regime. Then, Nepal held democratic elections in 1959 and Nepali Congress won the polls. With the holding of the polls, Nepal adopted a parliamentary system of governance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Unfortunately, the government led by NC’s BP Koirala did not last long then King Mahendra dissolved the parliament in 1960 citing corruption, political instability and Nepal being too close to India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Mahendra established a party-less system of governance, known as the Panchayat system. Under this system, power was centralized, and political parties were banned. Power was oncentrated in the hands of the King and his appointed officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The King acted as the ultimate authority, and all decisions were made by him and his close advisors. There was little scope for democratic participation, and the people had limited say in the governance of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During the Panchayat period, Nepal saw some progress in economic development, education, and infrastructure. However, there was also widespread corruption, political repression, and human rights abuses. Political dissent was not tolerated, and opposition leaders, activists, and journalists were often arrested and tortured.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During 1990s, the wave of democracy was sweeping across the world and Nepal was not left untouched by the spillover of the democratic wave. Two political parties- Nepali Congress and Leftist parties campaigned for the restoration of democracy in in hush-hush manner in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Panchayat system came to an end in 1990, following a pro-democracy movement led by political parties, intellectuals, and students. The movement culminated in a peaceful revolution, which forced King Birendra to accept a new democratic constitution that established a multi-party system of governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1990, late King Birendra agreed to hold elections and establish a constitutional monarchy with a parliamentary system of governance. The Nepali Congress Party won the democratic elections in 1991, and a new constitution was adopted in 1991, marking the beginning of Nepal's second experiment with democratic form of the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The democratic experiment of the 1990s was marked by political instability, corruption, and ethnic tensions. People’s hopes for development and good governance were dashed away. The Nepali Congress Party was plagued by infighting and corruption allegations, leading to a loss of public confidence. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Meanwhile, ethnic and regional tensions simmered beneath the surface, with marginalized communities demanding greater political representation and autonomy. Failure of Nepali Congress to guide the country to the path of development, prosperity and good governance caused the frequent changes of the governments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In October 2002, King Gyanendra dissolved the Parliament and he appointed a series of prime ministers. In February 2005 he dismissed the Prime Minister and cabinet and assumed direct power through a coup. Initially, public had given king a benefit of doubt, fed up with parties and successive governments’ failure to deliver services to them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As time passed by, king started showing his true colour by appointing corrupt former royalists and bootlickers to the Cabinet. Human rights violations, censorship on press freedom and corruption made people believe that king was no longer a fitful person to address people’s problems and burning then problem of Maoist insurgency. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Even supporters of the king quickly turned into fierce critics because of his authoritarian grip over the government and restrictions placed on people’s lives. As a result, the royal coup was met with widespread protests and civil disobedience calling for democracy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royal coup was followed by a decade-long Maoist insurgency, which began in 1996 and ended in 2006. The Maoists, led by Pushpa Kamal Dahal Prachanda, inspired by China’s Mao Zedong and his philosophy, had waged the insurgency for the establishment of a republic and the overthrow of the monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The insurgency was marked by violence, human rights abuses, and political instability, with the Maoists carrying out attacks on government installations, civilians, and security forces. The insurgency lasted for a decade and claimed the lives of over 16,000 people, until a peace agreement was reached in 2006.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The post-peace agreement was marked by significant political changes. The 240-year-old monarchy was officially abolished in Nepal on May 28, 2008, when the Constituent Assembly declared Nepal a Federal Democratic Republic. Nepal adopted a new constitution in 2015. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These changes aimed to address the country's longstanding political and social issues, including the marginalization of ethnic and religious minorities, the centralization of power, and the lack of economic opportunities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The adoption of the new constitution in 2015 recognized the rights of marginalized communities and established Nepal as a secular, federal democratic republic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Nepal's political experimentation has not only been limited to the establishment of new political systems and the adoption of new constitutions. The country has also undergone ideological shifts, with various political parties and groups espousing different ideologies, including communism, democracy, and monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Maoist) emerged as a major political force in the country during the insurgency, advocating for a communist state. However, following the peace agreement, the party entered mainstream politics and has since moderated its stance, forming alliances with other political parties. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Nepali Congress Party, founded in 1947, has been a prominent force in Nepali politics, advocating for democracy and liberal values. The party played a key role in the restoration of democracy in 1990 and has formed multiple governments since then.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Unified Marxist-Leninist) is another prominent political party in Nepal, advocating for socialism and secularism. The party has formed multiple governments since the establishment of the federal democratic republic in 2008 and has played a key role in the drafting and adoption of the new constitution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">After parliamentary polls of 2022 and by-polls of 2023, the Rastriya Swotantra Party has emerged as a potent political force, gaining the support of voters who have grown disillusioned with the corruption, irregularities, and lack of good governance that have plagued the traditional major parties, namely Nepali Congress, CPN-UML, and CPN-Maoist Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Comprised mainly of youthful members from various sectors and parties, the new party won 21 seats in the House of Representatives, and many predict that it will emerge as the single largest party in the next general elections in five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite the party's popularity, it has not clearly articulated its political agenda. The Rastriya Swotantra Party has yet to state its stance on crucial issues such as the federal set-up, the country's economic model, secularism, and the democratic republic. This lack of clarity has left many people skeptical about the party's future path if it does win the polls after five years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Moreover, the Rastriya Prajatantra Party, a party of former royals, has also made significant gains from the 2022 polls. The party's political agenda is clear: they aim to restore the monarchy and make former king Gyanendra the ceremonial head of the state. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royalist party has been organizing civil felicitations for former king Gyanendra Shah in various parts of the country and a section of people are hell-bent on reviving the role of overthrown monarchy in one or another way. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These recent developments and widespread corruption, economic downturn, and inadequate service delivery by the government, coupled with financial anomalies and a lack of employment opportunities, have caused growing anger and frustration among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These factors have raised concerns that Nepal may be heading towards another period of political instability, resulting in the experimentation of another political structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It is therefore crucial that Nepali politicians and citizens remain vigilant to keep democratic political model intact to avoid testing of another political ideology and government system. </span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17564', 'image' => '20230511014522_collage (15) (1).jpg', 'article_date' => '2023-05-11 13:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17847', 'article_category_id' => '1', 'title' => 'PM Dahal Pledges Impartial Investigation Into Fake Bhutanese Refugee Scam', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal 'Prachanda' has pledged to bring anyone involved in the fake Bhutanese refugee scandal to justice. ', 'content' => '<p><br /> May 12: Prime Minister Pushpa Kamal Dahal 'Prachanda' has pledged to bring anyone involved in the fake Bhutanese refugee scandal to justice. </p> <p>Receiving the memo submitted by the Rastriya Prajatantra Party (RPP) in the Office of the Prime Minister and Council of Ministers today, PM Dahal asserted that the government was clear that the guilty must not be spared while the innocent ones should not be prosecuted in the scam.</p> <p> Police have been busting the racket sending people to the United States identifying them as the Bhutanese refugee. Over a dozen of people have been arrested in connection to the scam including some high-profile individuals.</p> <p> The PM assured the RPP team that there will not be any influence of pressure in the ongoing investigation into the scam. Stating that the incumbent government was fully committed for the implementation of the good-governance, prosperity and constitution, Dahal said that he will not give into any pressure or influence regarding the scam. </p> <p>RPP Chairperson Lingden, in the memo, demanded an investigation into the property of the political leadership and bureaucrats after the 2046 BS. </p> <p>Talking to media persons after submitting the memo to the PM, RPP Chair Lingden shared that they had drawn the attention of the PM towards impartial investigation into the fake Bhutanese refugee scam. </p> <p>The PM acknowledged the memo and assured there will not be any error regarding the investigation into the scam, said Lingden, quoting the PM as saying. ---RSS <br /> <br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17578', 'image' => '20230512071900_collage (8).jpg', 'article_date' => '2023-05-12 19:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17846', 'article_category_id' => '1', 'title' => 'NAC Starts Regular Flight at Resunga Airport ', 'sub_title' => '', 'summary' => 'Regular flights have started to and from the Resunga Airport in Gulmi from Friday. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 12: Regular flights have started to and from the Resunga Airport in Gulmi from Friday. </span></p> <p><span style="font-size:18px">The Twin Otter aircraft of Nepal Airlines Corporation has started operating regular flights. The Nepal Airlines Corporation (NAC) has prepared to operate flights on Tuesdays as well. </span></p> <p><span style="font-size:18px">The NAC’s aircraft had successfully conducted a test flight at Resunga airport two weeks ago, confirming that people from Gulmi could avail air service. </span></p> <p><span style="font-size:18px">Akhileshwor Pandey, a resident of Ward No. 1 of Resunga Municipality, who was the first passenger to come in the commercial flight, said that he felt safe, comfortable, and reliable and reached his home district quickly.</span></p> <p><span style="font-size:18px">Furthermore, Parvati Bhusal of the Gulmi Durbar Rural Municipality-2 said that she could arrive Gulmi from Kathmandu in a short time. “The air connectivity has brought Gulmi and Kathmandu closer,” said Bhusal.</span></p> <p><span style="font-size:18px"> The aircraft that flew from Tribhuvan International Airport in Kathmandu at 6:30 am landed at Resunga Airport at 7:15 AM. According to Captain Manish Bista, the captain of the flight, flight along the Kathmandu- Resunga airport will now be regular every Friday.</span></p> <p><span style="font-size:18px"> "Looking at the condition of the airport during the test, we conducted the flight in the morning. There will be flights only on Fridays for now, and we have prepared to operate flights on Tuesdays as well," said Captain Bista.</span></p> <p><span style="font-size:18px">Khildhowj Panthi, chief of Resunga Municipality, shared that NAC had started its flight to Resunga Airport after prolonged efforts. “The direct flight from TIA to Resunga Airport has made dream of the people of Gulmi to avail air service a reality,” Panthii added.</span></p> <p><span style="font-size:18px">Panthi expressed his happiness for the start of regular air services from the airport. He said that the airport would be a milestone for the development of the municipality and surrounding areas. </span></p> <p><span style="font-size:18px">On the first commercial flight of the NAC, 14 passengers were on board the plane that landed at the Resunga Airport. The NAC aircraft had departed from the Resunga Airport with 14 passengers on board in its return flight. </span></p> <p><span style="font-size:18px">The NAC is preparing to carry 18 passengers on its next flight as per aircraft’s capacity. The fare has been set at Rs. 6,300 per passenger.</span></p> <p><span style="font-size:18px">Earlier, Tara Air's plane had conducted a test flight at the Resunga Airport on June 8, 2018 and December 29, 2018. However, the plane's flights were suspended citing expensive fare. </span></p> <p><span style="font-size:18px">The airport is spread over an area of 156 ropanis and was constructed at a cost of Rs. 35 crores. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17577', 'image' => '20230512050848_collage (7).jpg', 'article_date' => '2023-05-12 17:01:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17845', 'article_category_id' => '1', 'title' => 'Government Struggling to Manage Pension Fund', 'sub_title' => '', 'summary' => 'May 12: It has become difficult for the government to pay pension to retired employees.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 12: It has become difficult for the government to pay pension to retired employees. The burden on the state is increasing with the increase in the average life expectancy and decline in the working age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since the Civil Service Act is not up to date, and government employees who want to continue working and are capable of working within the age limit have had to retire, causing an extra burden to the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The average life expectancy of Nepalese was 35.2 years in 1959 and the mandatory retirement age was 60 years. The Civil Service Act, 2049 reduced the retirement age to 58 years as per the recommendation of the High Level Administration Reform Commission formed by the then Prime Minister Girija Prasad Koirala. The retirement age for judges and university professors is higher than this at 66 years and 63 years respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">At the time when the Act was promulgated, the average life expectancy of a Nepali had reached 56 years and employees who retired at the age of 60 did not need to be given pension for many years. At the time of promulgation of the Civil Service Act, 2049, it appears that the citizens eligible to enter the civil service were born in the year 2031 (when the period of service entry was set at 18 years). In the year 2031, the average life expectancy of Nepali based on birth was 41 years.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Politics in age limit</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the sources, the retirement age was reduced via the Civil Service Act to remove some of the high-ranking employees accustomed to the Panchayat System, who refused to help the new government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Initially, it was thought that it would last only for a short time, but no one took the initiative to change it to 60 years later. The Public Expenditure Review Commission formed under the coordination of Dr Dilliraj Khanal also recommended increasing the retirement age of civil servants to 60 years. As per the report, he said, “In order to reduce the increased liability in pension, the retirement age of all types of public service should be raised to 60 years and only after reaching this age, provision should be made for them to get pension.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The retirement arrangement has not changed, but the average life expectancy will increase, so the state has to give long-term pensions to those who retire at the age of 58. Now the average life expectancy of Nepalis has reached over 71 years. Experts say that the average life expectancy of those who worked in the civil service is more. The government has to pay pension to them for more than 13 years after retirement.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">The number of pensioners increasing</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of pensioners is consistently increasing. As of April 27, 2023, this number stands at 294,000. This is an average increase of 3,039 civil servants in the last 5 years. Similarly, 2,825 policemen, 2,750 teachers, and 4,320 Nepalese Army personnel have been added as well.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Bishnu Prasad Kharel, the head of the Pension Management Office, the additional number of employees who come for pension after taking annual leave is 12,935 on an average, including the army, police, and teachers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The average growth rate of the last 5 years is 6.45 percent,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, last year, the salary of the government employees was increased by almost 15 percent, affecting the pension as well. However, when the budget requested to the government was not provided on time, there was a problem in paying pensions to the retired employees in March and April. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“We did not know that there would be an increase in the salary. Out of the budget of Rs 65 billion requested for pensions, only Rs 52 billion was allocated. As the budget was not enough, we corresponded to allocate more budget. Some amount has been released while some amount is in the process of being released,” said Kharel.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17576', 'image' => '20230512025410_1675890384_1.jpg', 'article_date' => '2023-05-12 14:53:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17843', 'article_category_id' => '1', 'title' => 'Air Pollution Increasing Again ', 'sub_title' => '', 'summary' => 'May 12: Air pollution has started to go up again across the country due to lack of rainfall and growing incidents of forest fire. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: Air pollution has started to go up again across the country due to lack of rainfall and growing incidents of forest fire. According to the latest Air Quality Index (AQI), the AQI at Patan, Lalitpur is 176 and it is 163 at Kirtipur, 163 at Ratnapark in Kathmandu, 171 at Narayani and 155 at Dhankuta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">AQI from 0 to 50 is considered normal and above 150 is hazardous. The AQI in Patan, Kirtipur, Ratnapark, Narayani and Dhankuta is above 150. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Health experts have advised wearing mask while going out of the house as air pollution is likely to harm the health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govinda Jha said haze is seen at many places including in the Kathmandu Valley since the morning due to the increased air pollution. According to him, air pollution is likely to further increase as there is no immediate likelihood of rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said the air in Bhaktpaur, Madhyapur Thimi and Birendranagar is at risk of pollution. The AQI at these places is less than 150. Experts say that people suffering from chronic diseases, children and the elderly people are at risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vehicle emission is also another cause for the increasing level of air pollution. -- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17575', 'image' => '20230512023718_Clipboard09(31).jpg', 'article_date' => '2023-05-12 14:35:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17844', 'article_category_id' => '1', 'title' => 'Israel Marks Diamond Jubilee Independence Day Celebrations', 'sub_title' => '', 'summary' => 'May 12: The Embassy of Israel celebrated 75 years of Israel’s Independence by organizing a special programme in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 12: The Embassy of Israel celebrated 75 years of Israel’s Independence by organizing a special programme in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Issuing a statement on Thursday, the embassy said that the event was attended by Vice President Ramsahay Prasad Yadav who was among the 400 guests from among the government officials, foreign diplomats and media fraternity members.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Welcoming the guests, Ambassador of Israel to Nepal Hanan Goder said, “Israel and Nepal share common values and challenges. As both are small countries, we must always build bridges of good relations with similar countries. Nepal and Israel were and will always remain close friends.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prime Minister of Israel Benjamin Netanyahu offered his congratulations in a video message saying: “75 years ago, we emerged from the Holocaust… today, Israel is a rising power among the world… We have become the example of how you build something seemingly from nothing. We do more with less… We’ve built this, based on the age-old dream that we never gave up to return to our homeland; to rebuild our national life, to be able to defend ourselves, to be able to create and forge a future of peace.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a video message, Minister for Foreign Affairs of Israel Eli Cohen said, “Even when things seem difficult and impossible, think about what we have managed to build and accomplish in just 75 years of independence. Anything is possible, with a little faith.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Israeli seeds were gifted to the guests as a symbol for growth and prosperity.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17574', 'image' => '20230512025227_IMG_2741.jpg', 'article_date' => '2023-05-12 14:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17842', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Bank Rate by 1 Percentage Point', 'sub_title' => 'Interest on Loans and Deposits Likely to Decrease', 'summary' => 'May 12: Nepal Rastra Bank (NRB) has reduced the bank rate by one percentage point to 7.5 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 12: Nepal Rastra Bank (NRB) has reduced the bank rate by one percentage point to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The central bank on Friday released the third quarterly review of the monetary policy for the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">22/23 and reduced the bank rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Along with this, it is estimated that the interest rate on loans and deposits may likely decrease. Bank rate affects the interest rate of loans and deposits. If the bank rate increases, the interest rate will increase and if it decreases, the interest rate will decrease.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank said that the policy rate has been kept unchanged at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Similarly, the NRB has kept the other rates under the interest rate corridor unchanged.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the central bank, the policy rate has been kept unchanged considering the prospects of the foreign exchange reserve to support imports as well as the policy rate of neighboring country and the difference between the inflation rates between the two countries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17573', 'image' => '20230512020352_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-05-12 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17841', 'article_category_id' => '1', 'title' => 'Distribution of New Stock Exchange License Postponed Again', 'sub_title' => '', 'summary' => 'May 12: The process of distributing new stock exchange license by the Securities Board of Nepal (SEBON) has been postponed again.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 12: The process of distributing new stock exchange license by the Securities Board of Nepal (SEBON) has been postponed again.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has decided to halt the license distribution process of the new stock exchange for the time being.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the Council of Ministers on Tuesday decided to proceed ahead with the license distribution process only after further study as questions were raised in the parliament regarding the license of the new stock exchange.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the information provided by the Ministry of Finance, the Council of Ministers has instructed the concerned bodies to proceed with the process only after further study keeping in mind the interests of the investors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the instructions of the Council of Ministers, the Ministry of Finance said it will write letter to SEBON regarding this issue on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the license distribution process of the new stock exchange was postponed due to two separate cases filed at the Supreme Court. The process went ahead after the court quashed the petitions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Three companies have applied for the license of the new stock exchange. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A dispute had surfaced regarding one of the three companies that applied for the new stock exchange license. The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17572', 'image' => '20230512014025_1683867885.Untitled design (11).jpg', 'article_date' => '2023-05-12 13:38:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17840', 'article_category_id' => '1', 'title' => 'Tatopani Transit Point Handling only Limited Cargo Exports', 'sub_title' => '', 'summary' => 'May 12: The Tatopani transit point on the Nepal-China border in Sindhupalchok district had opened for full-fledged operation on May 1, raising high hopes of increased trade. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: The Tatopani transit point on the Nepal-China border in Sindhupalchok district had opened for full-fledged operation on May 1, raising high hopes of increased trade. The transit point was opened more than three years after it was initially closed to control the COVID-19 outbreak in March 2020. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the export through this transit point is not going up as expected. It is seeing partial exports only. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Three containers loaded with utensils and handicraft goods ready for export to Shigatse, China are stuck at Tatopani dry port. These goods were destined for Shigatse in response to the demand placed by Chinese traders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The export is almost non-existent. It has been a week now since the export clearance forms for this consignment were filled up. Instead of the exports picking up pace, even the number of containers carrying imported goods through this transit point is decreasing day by day," said Dayananda KC, chief customs officer at Tatopani Customs Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to KC, although the export through the transit point has been opened, it is only partial. With the opening of export, Nepali traders can now take containers carrying goods for export, including herbs and food grain, up to the midpoint of the Nepal-China Friendship Bridge on the border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Movement of people and normal vehicles is allowed up to Khasa. Only the export of cargo vehicles that has come to a standstill," Chief Customs Officer KC said. His observation is that Nepalis cannot supply adequate goods for export through the transit point like before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the export of food grains, vegetables as well as herbs up to Khasa used to be a good source of income of Nepalis. Around 500 Nepalis used to reside in Khasa as a permanent residents running different activities including hotels. But there is no people in Khasa now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali businesspersons bring apples, garlic and clothes in 6-7 containers up to the Friendship Bridge towards Nepal through Silk Company from Khasa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Silk Company, Bijay Sherpa said that the Nepali businessmen had requested the Chinese side to allow them to go up to Khasa during a recent meeting but they were not positive about it. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had set a target of collecting Rs 4.62 billion in revenue in the current fiscal year from this customs point, but only Rs 2.20 billion has been collected so far. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17571', 'image' => '20230512122723_20211109014016_20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2023-05-12 12:26:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17839', 'article_category_id' => '1', 'title' => 'DPM Shrestha Assures No One will be Spared in Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 12: Deputy Prime Minister and Minister for Home Affairs, Narayan Kaji Shrestha, has said the government will crack down the nexus involved in the scam of sending people to the US in the cover of Bhutanese refugees. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: Deputy Prime Minister and Minister for Home Affairs, Narayan Kaji Shrestha, has said the government will crack down the nexus involved in the scam of sending people to the US in the cover of Bhutanese refugees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his meeting with the leaders of CPN (Unified Socialist on Thursday, the home minister said anyone else found guilty in the case would be prosecuted while no innocent will be framed for the incident. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing the scam as a crime against the state, he said this is not just a case of corruption but an organised crime involving the people from top to bottom. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“This is the crime against the state to make the people statelessness." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that he faced no political pressure for actions against those involved in the scandal, he pledged to conclude the matter substantively. He took time to say that he found Prime Minister Pushpa Kamal Dahal as his strong back-up support for government action against those involved in the fake Bhutanese refugees scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Deputy Prime Minister Shrestha, he has already directed the police administration to go with the investigations against the case confidently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Unified Socialist leaders applauded the government's move in the case and expressed their solidarity against the crime. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17570', 'image' => '20230512114342_1683803227.jpg', 'article_date' => '2023-05-12 11:41:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17838', 'article_category_id' => '1', 'title' => 'Second International Travel Mart begins in Lumbini ', 'sub_title' => '', 'summary' => 'May 12: The Second International Travel Mart 2023 kicked off in Lumbini on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: The Second International Travel Mart 2023 kicked off in Lumbini on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The three-day travel mart is being organized by Ministry of Culture, Tourism and Civil Aviation, Nepal Tourism Board and Nepal Association of Tour and Travels with the objective of bringing in tourists to Lumbini. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice Chairman of Lumbini Development Trust Monk Maittaye (Abadesh Kumar Tripathi) inaugurated the travel mart. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the trust's Vice Chairman Maittaye said that the Buddhist followers should begin their journey from Lumbini itself. He said that Lumbini is a vital site for promoting inspiration, peace and goodwill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Secretary at the Ministry of Tourism Development Suresh Adhikari stated that the Travel Mart was orgnaised to make the country's tourism industry more vibrant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretary at the Ministry of Foreign Affairs Dhan Bahadur Oli, Chief Executive Officer of Nepal Tourism Board Dr Dhananjaya Regmi and Chairman of Hotel Association of Nepal Binayak Shah addressed the event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Twenty eight travel and tour companies from India, Malaysia, China, South Korea, Bangladesh, Myanmar, Thailand, Sri Lanka and other countries are attending the travel mart. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17569', 'image' => '20230512110739_LumbiniRSS.jpg', 'article_date' => '2023-05-12 11:06:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17837', 'article_category_id' => '1', 'title' => 'The National Banking Discourse-2023 to Be Held on May 16', 'sub_title' => '', 'summary' => '“The National Banking Discourse- 2023” is scheduled to be held at Soaltee Hotel in Kathmandu on May 16. The aim of the discourse is to explore solutions to the financial challenges currently faced by the country. Organized by Bankingsamachar.com and sponsored by Nabil Bank Limited, this event promises to provide insightful discussions on various key topics.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 12: “The National Banking Discourse- 2023” is scheduled to be held at Soaltee Hotel in Kathmandu on May 16. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The aim of the discourse is to explore solutions to the financial challenges currently faced by the country. Organized by Bankingsamachar.com and sponsored by Nabil Bank Limited, this event promises to provide insightful discussions on various key topics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The discourse will center on several pertinent issues such as the expectations from the new budget in the current economic climate, the status of digitization of the financial service eco-system, and the present and future of remittance-dependent economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Additionally, there will be discussions on the necessity of financial literacy for long-term and sustainable development. The discourse will also delve into the state of banking, including the problem of high-interest rates, liquidity issues, rumors that lower trust in banks and financial institutions, and the pressure placed on banks through monetary policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">One of the primary objectives of the discourse is to protect big industries while promoting small, medium, and start-up industries. The program aims to explore productive, employment-oriented, and export-oriented areas for investment and to help solve policy-level problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">With the world economy still recovering from the post-COVID-19 pandemic and the recent increase in petroleum and food prices due to Russia's war on Ukraine, this discourse is of significant importance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Notably, the discourse will feature distinguished guests, including the Finance Minister, the NRB Governor, and other dignitaries. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17568', 'image' => '20230512064702_collage (14).jpg', 'article_date' => '2023-05-12 06:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17836', 'article_category_id' => '1', 'title' => 'FinMin Mahat Discusses Budget with International Development Partners', 'sub_title' => '', 'summary' => 'Finance Minister Dr Prakash Sharan Mahat held a productive meeting with heads and representatives of international development partners in Nepal to discuss the budget for the upcoming fiscal year 2080/081 today.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 11: Finance Minister Dr Prakash Sharan Mahat held a productive meeting with heads and representatives of international development partners in Nepal to discuss the budget for the upcoming fiscal year 2080/081 today. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, the Finance Minister shared the government's priorities and the guidelines and principles that will be taken into account for the upcoming budget. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He expressed the government's commitment to making maximum use of available resources while ensuring that investments are directed towards productive sectors to help pay both the principal and interest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The international development partners in attendance expressed their support for the government's priorities and programs, and pledged to mobilize foreign aid through Nepal's national policy, system, and structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They also offered valuable suggestions to improve capital expenditure, management of public institutions, avoiding duplication of expenditure, and the preparation of blueprints for internal resource mobilization.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, there were suggestions to increase investment in health, education, social security, and nutrition, expand the scope of taxes, improve capital expenditure and gradually shift the informal sector to the formal sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Finance Minister also called for substantial subsidies and foreign loans, including aid to address the impact of climate change, which Nepal is not responsible for.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the multilateral development partners such as the World Bank, Asian Development Bank, International Monetary Fund, International Finance Corporation, United States Agency for International Development, Embassies of Japan, Korea, Switzerland, Norway, Finland, Germany, and the European Union were present in the meeting.</span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17567', 'image' => '20230511062708_collage (6).jpg', 'article_date' => '2023-05-11 18:25:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17835', 'article_category_id' => '1', 'title' => 'NAC to Purchase Two Airplanes', 'sub_title' => '', 'summary' => 'Nepal Airlines Corporation (NAC) has formed a sub-committee to forward a plan to procure two airplanes. ', 'content' => '<p><span style="font-size:18px">May 11: Nepal Airlines Corporation (NAC) has formed a sub-committee to forward a plan to procure two airplanes. </span></p> <p><span style="font-size:18px">The national flag-carrier has brought this plan for purchasing two aircrafts to operate flights in urban destinations to increase air connectivity at the provincial level, according to the NAC.</span></p> <p><span style="font-size:18px">A meeting of the NAC Board of Directors held on May 9 formed a nine-member sub-committee headed by Senior Captain Sudhir Samsher Rai for this purpose.</span></p> <p><span style="font-size:18px"> The sub-committee has started its work with the goal of submitting a report within 21 days. </span></p> <p><span style="font-size:18px">NAC has not been able to operate flights to the urban and commercially viable areas at present due to the shortage of aircraft to fly to airports in the urban areas, reads the statement issued by the NAC. </span></p> <p><span style="font-size:18px">“With the procurement of new aircrafts, NAC can operate provincial flights from Kathmandu, Biratnagar, Bhairahawa, Pokhara, Nepalgunj, Dhangadhi, among other cities to increase air connectivity," according to the NAC. ---RSS</span><br /> </p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17566', 'image' => '20230511053940_collage (5).jpg', 'article_date' => '2023-05-11 17:38:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17834', 'article_category_id' => '1', 'title' => 'Private Sector Expects Budget to Focus on Production Growth', 'sub_title' => '', 'summary' => 'May 11: The government is in the process of preparing the budget for the next fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 11: The government is in the process of preparing the budget for the next fiscal year (FY 2023/24)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has asked for suggestions from the stakeholders regarding the next year's budget. Stakeholders emphasized that the upcoming budget should solve the problems faced by the economy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anil Aggarwal, president of Birgunj Chamber of Commerce and Industry, says that the government should identify the real needs and address those issue through the budget instead of announcing a populist budget with catchy slogans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“If we look at the budgets of the past few years, there is a tendency to unveil a big budget with catchy slogans and plans first, and then to downsize the budget after six months. Such a budget cannot solve the problems," said Agarwal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hari Gautam, senior vice president of the association, says that the world economy is heading towards recession since the outbreak of coronavirus pandemic, and the budget should address this issue in order to protect the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The main objective of the budget should be to increase production and employment. For this, the budget should prioritize industry and production," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Experts say that the size of the budget is usually big just to please the people through populist programmes rather that those necessary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They also claim that the implementation of such a budget will be weak. They suggest that the government should be serious about this as the budget is not only a statement of income and expenditure but also the basis of development plans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Subodh Kumar Gupta, chairman of the Trade Committee under the Federation of Nepalese Chamber of Commerce and Industry, says that the budget should address the concerns of the industry and business sector. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Production and trade are complementary to each other. In the past, when the government controlled the business, the production was also affected," argues Gupta. "Instead of control the business, what is needed now is the policy of facilitation." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He suggests that the government should also pay attention to the impacts on the consumers when changing the policy related to any business.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anup Aggarwal, the former president of the Nepalese Youth Entrepreneurs Forum, says that the government should ease the policy to promote entrepreneurship. He said that a policy should be taken to connect youth and entrepreneurship. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Now is the time for innovation. A policy to encourage start-up and innovation is necessary,” said Agarwal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Young entrepreneurs are of the opinion that the budget should prioritize the use of technology and maximum utilization of opportunities in the economy. Entrepreneurs have requested to come up with a solid plan to solve the problem of lack of liquidity and high interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At a time when there is a slowdown in business due to the coronavirus pandemic, the current capital loan guideline has added to the problems of the business community. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Madhav Rajpal, another vice president of Birgunj Chamber of Industry and Commerce, said that the government must release billions of rupees that have not been paid to the builders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Industries related to construction materials can flourish only when the government releases the fund to the builders. This can have a cyclical effect on the overall economy,” said Rajpal.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17565', 'image' => '20230511021044_1683767264.jpg', 'article_date' => '2023-05-11 14:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17833', 'article_category_id' => '251', 'title' => 'Nepal: A Laboratory for Political Experimentation ', 'sub_title' => '', 'summary' => 'Nepal has been a laboratory for different parties and institution to experiment their system of government and ideologies for much of its modern history. It is high time we avoid experimenting with another political set-up. ', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">May 11: Nepal, a small landlocked country sandwiched between India and China, has been a political laboratory for much of its modern history. From the early 1900s to the present day, Nepal has experimented with various governance system, and political ideologies in its quest to establish a stable and prosperous society. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Corruption, irregularities, lack of inclusivity, monopoly over resources and myopic leadership have led to the frequent shift of political power and governance model, making the country a testing ground of political forces and centuries-old institution of monarchy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Rana regime in Nepal, also known as the Rana dynasty, was an autocratic regime that lasted from 1846 to 1951. The Ranas were a powerful noble family who held de facto control over the government of Nepal during this period, with the titular king serving as a figurehead. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas were able to maintain their grip on power through a combination of military force, political manipulation, and suppression of dissent. Under the Rana regime, there was little to no political freedom or democratic participation, and civil liberties were severely restricted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas implemented a strict caste-based social hierarchy, with themselves at the top, and the majority of the population subjected to various forms of discrimination and exploitation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1951, a popular uprising led to the downfall of the Rana regime. Then, Nepal held democratic elections in 1959 and Nepali Congress won the polls. With the holding of the polls, Nepal adopted a parliamentary system of governance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Unfortunately, the government led by NC’s BP Koirala did not last long then King Mahendra dissolved the parliament in 1960 citing corruption, political instability and Nepal being too close to India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Mahendra established a party-less system of governance, known as the Panchayat system. Under this system, power was centralized, and political parties were banned. Power was oncentrated in the hands of the King and his appointed officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The King acted as the ultimate authority, and all decisions were made by him and his close advisors. There was little scope for democratic participation, and the people had limited say in the governance of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During the Panchayat period, Nepal saw some progress in economic development, education, and infrastructure. However, there was also widespread corruption, political repression, and human rights abuses. Political dissent was not tolerated, and opposition leaders, activists, and journalists were often arrested and tortured.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During 1990s, the wave of democracy was sweeping across the world and Nepal was not left untouched by the spillover of the democratic wave. Two political parties- Nepali Congress and Leftist parties campaigned for the restoration of democracy in in hush-hush manner in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Panchayat system came to an end in 1990, following a pro-democracy movement led by political parties, intellectuals, and students. The movement culminated in a peaceful revolution, which forced King Birendra to accept a new democratic constitution that established a multi-party system of governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1990, late King Birendra agreed to hold elections and establish a constitutional monarchy with a parliamentary system of governance. The Nepali Congress Party won the democratic elections in 1991, and a new constitution was adopted in 1991, marking the beginning of Nepal's second experiment with democratic form of the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The democratic experiment of the 1990s was marked by political instability, corruption, and ethnic tensions. People’s hopes for development and good governance were dashed away. The Nepali Congress Party was plagued by infighting and corruption allegations, leading to a loss of public confidence. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Meanwhile, ethnic and regional tensions simmered beneath the surface, with marginalized communities demanding greater political representation and autonomy. Failure of Nepali Congress to guide the country to the path of development, prosperity and good governance caused the frequent changes of the governments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In October 2002, King Gyanendra dissolved the Parliament and he appointed a series of prime ministers. In February 2005 he dismissed the Prime Minister and cabinet and assumed direct power through a coup. Initially, public had given king a benefit of doubt, fed up with parties and successive governments’ failure to deliver services to them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As time passed by, king started showing his true colour by appointing corrupt former royalists and bootlickers to the Cabinet. Human rights violations, censorship on press freedom and corruption made people believe that king was no longer a fitful person to address people’s problems and burning then problem of Maoist insurgency. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Even supporters of the king quickly turned into fierce critics because of his authoritarian grip over the government and restrictions placed on people’s lives. As a result, the royal coup was met with widespread protests and civil disobedience calling for democracy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royal coup was followed by a decade-long Maoist insurgency, which began in 1996 and ended in 2006. The Maoists, led by Pushpa Kamal Dahal Prachanda, inspired by China’s Mao Zedong and his philosophy, had waged the insurgency for the establishment of a republic and the overthrow of the monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The insurgency was marked by violence, human rights abuses, and political instability, with the Maoists carrying out attacks on government installations, civilians, and security forces. The insurgency lasted for a decade and claimed the lives of over 16,000 people, until a peace agreement was reached in 2006.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The post-peace agreement was marked by significant political changes. The 240-year-old monarchy was officially abolished in Nepal on May 28, 2008, when the Constituent Assembly declared Nepal a Federal Democratic Republic. Nepal adopted a new constitution in 2015. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These changes aimed to address the country's longstanding political and social issues, including the marginalization of ethnic and religious minorities, the centralization of power, and the lack of economic opportunities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The adoption of the new constitution in 2015 recognized the rights of marginalized communities and established Nepal as a secular, federal democratic republic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Nepal's political experimentation has not only been limited to the establishment of new political systems and the adoption of new constitutions. The country has also undergone ideological shifts, with various political parties and groups espousing different ideologies, including communism, democracy, and monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Maoist) emerged as a major political force in the country during the insurgency, advocating for a communist state. However, following the peace agreement, the party entered mainstream politics and has since moderated its stance, forming alliances with other political parties. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Nepali Congress Party, founded in 1947, has been a prominent force in Nepali politics, advocating for democracy and liberal values. The party played a key role in the restoration of democracy in 1990 and has formed multiple governments since then.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Unified Marxist-Leninist) is another prominent political party in Nepal, advocating for socialism and secularism. The party has formed multiple governments since the establishment of the federal democratic republic in 2008 and has played a key role in the drafting and adoption of the new constitution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">After parliamentary polls of 2022 and by-polls of 2023, the Rastriya Swotantra Party has emerged as a potent political force, gaining the support of voters who have grown disillusioned with the corruption, irregularities, and lack of good governance that have plagued the traditional major parties, namely Nepali Congress, CPN-UML, and CPN-Maoist Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Comprised mainly of youthful members from various sectors and parties, the new party won 21 seats in the House of Representatives, and many predict that it will emerge as the single largest party in the next general elections in five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite the party's popularity, it has not clearly articulated its political agenda. The Rastriya Swotantra Party has yet to state its stance on crucial issues such as the federal set-up, the country's economic model, secularism, and the democratic republic. This lack of clarity has left many people skeptical about the party's future path if it does win the polls after five years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Moreover, the Rastriya Prajatantra Party, a party of former royals, has also made significant gains from the 2022 polls. The party's political agenda is clear: they aim to restore the monarchy and make former king Gyanendra the ceremonial head of the state. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royalist party has been organizing civil felicitations for former king Gyanendra Shah in various parts of the country and a section of people are hell-bent on reviving the role of overthrown monarchy in one or another way. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These recent developments and widespread corruption, economic downturn, and inadequate service delivery by the government, coupled with financial anomalies and a lack of employment opportunities, have caused growing anger and frustration among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These factors have raised concerns that Nepal may be heading towards another period of political instability, resulting in the experimentation of another political structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It is therefore crucial that Nepali politicians and citizens remain vigilant to keep democratic political model intact to avoid testing of another political ideology and government system. </span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17564', 'image' => '20230511014522_collage (15) (1).jpg', 'article_date' => '2023-05-11 13:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17847', 'article_category_id' => '1', 'title' => 'PM Dahal Pledges Impartial Investigation Into Fake Bhutanese Refugee Scam', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal 'Prachanda' has pledged to bring anyone involved in the fake Bhutanese refugee scandal to justice. ', 'content' => '<p><br /> May 12: Prime Minister Pushpa Kamal Dahal 'Prachanda' has pledged to bring anyone involved in the fake Bhutanese refugee scandal to justice. </p> <p>Receiving the memo submitted by the Rastriya Prajatantra Party (RPP) in the Office of the Prime Minister and Council of Ministers today, PM Dahal asserted that the government was clear that the guilty must not be spared while the innocent ones should not be prosecuted in the scam.</p> <p> Police have been busting the racket sending people to the United States identifying them as the Bhutanese refugee. Over a dozen of people have been arrested in connection to the scam including some high-profile individuals.</p> <p> The PM assured the RPP team that there will not be any influence of pressure in the ongoing investigation into the scam. Stating that the incumbent government was fully committed for the implementation of the good-governance, prosperity and constitution, Dahal said that he will not give into any pressure or influence regarding the scam. </p> <p>RPP Chairperson Lingden, in the memo, demanded an investigation into the property of the political leadership and bureaucrats after the 2046 BS. </p> <p>Talking to media persons after submitting the memo to the PM, RPP Chair Lingden shared that they had drawn the attention of the PM towards impartial investigation into the fake Bhutanese refugee scam. </p> <p>The PM acknowledged the memo and assured there will not be any error regarding the investigation into the scam, said Lingden, quoting the PM as saying. ---RSS <br /> <br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17578', 'image' => '20230512071900_collage (8).jpg', 'article_date' => '2023-05-12 19:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17846', 'article_category_id' => '1', 'title' => 'NAC Starts Regular Flight at Resunga Airport ', 'sub_title' => '', 'summary' => 'Regular flights have started to and from the Resunga Airport in Gulmi from Friday. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 12: Regular flights have started to and from the Resunga Airport in Gulmi from Friday. </span></p> <p><span style="font-size:18px">The Twin Otter aircraft of Nepal Airlines Corporation has started operating regular flights. The Nepal Airlines Corporation (NAC) has prepared to operate flights on Tuesdays as well. </span></p> <p><span style="font-size:18px">The NAC’s aircraft had successfully conducted a test flight at Resunga airport two weeks ago, confirming that people from Gulmi could avail air service. </span></p> <p><span style="font-size:18px">Akhileshwor Pandey, a resident of Ward No. 1 of Resunga Municipality, who was the first passenger to come in the commercial flight, said that he felt safe, comfortable, and reliable and reached his home district quickly.</span></p> <p><span style="font-size:18px">Furthermore, Parvati Bhusal of the Gulmi Durbar Rural Municipality-2 said that she could arrive Gulmi from Kathmandu in a short time. “The air connectivity has brought Gulmi and Kathmandu closer,” said Bhusal.</span></p> <p><span style="font-size:18px"> The aircraft that flew from Tribhuvan International Airport in Kathmandu at 6:30 am landed at Resunga Airport at 7:15 AM. According to Captain Manish Bista, the captain of the flight, flight along the Kathmandu- Resunga airport will now be regular every Friday.</span></p> <p><span style="font-size:18px"> "Looking at the condition of the airport during the test, we conducted the flight in the morning. There will be flights only on Fridays for now, and we have prepared to operate flights on Tuesdays as well," said Captain Bista.</span></p> <p><span style="font-size:18px">Khildhowj Panthi, chief of Resunga Municipality, shared that NAC had started its flight to Resunga Airport after prolonged efforts. “The direct flight from TIA to Resunga Airport has made dream of the people of Gulmi to avail air service a reality,” Panthii added.</span></p> <p><span style="font-size:18px">Panthi expressed his happiness for the start of regular air services from the airport. He said that the airport would be a milestone for the development of the municipality and surrounding areas. </span></p> <p><span style="font-size:18px">On the first commercial flight of the NAC, 14 passengers were on board the plane that landed at the Resunga Airport. The NAC aircraft had departed from the Resunga Airport with 14 passengers on board in its return flight. </span></p> <p><span style="font-size:18px">The NAC is preparing to carry 18 passengers on its next flight as per aircraft’s capacity. The fare has been set at Rs. 6,300 per passenger.</span></p> <p><span style="font-size:18px">Earlier, Tara Air's plane had conducted a test flight at the Resunga Airport on June 8, 2018 and December 29, 2018. However, the plane's flights were suspended citing expensive fare. </span></p> <p><span style="font-size:18px">The airport is spread over an area of 156 ropanis and was constructed at a cost of Rs. 35 crores. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17577', 'image' => '20230512050848_collage (7).jpg', 'article_date' => '2023-05-12 17:01:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17845', 'article_category_id' => '1', 'title' => 'Government Struggling to Manage Pension Fund', 'sub_title' => '', 'summary' => 'May 12: It has become difficult for the government to pay pension to retired employees.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 12: It has become difficult for the government to pay pension to retired employees. The burden on the state is increasing with the increase in the average life expectancy and decline in the working age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since the Civil Service Act is not up to date, and government employees who want to continue working and are capable of working within the age limit have had to retire, causing an extra burden to the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The average life expectancy of Nepalese was 35.2 years in 1959 and the mandatory retirement age was 60 years. The Civil Service Act, 2049 reduced the retirement age to 58 years as per the recommendation of the High Level Administration Reform Commission formed by the then Prime Minister Girija Prasad Koirala. The retirement age for judges and university professors is higher than this at 66 years and 63 years respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">At the time when the Act was promulgated, the average life expectancy of a Nepali had reached 56 years and employees who retired at the age of 60 did not need to be given pension for many years. At the time of promulgation of the Civil Service Act, 2049, it appears that the citizens eligible to enter the civil service were born in the year 2031 (when the period of service entry was set at 18 years). In the year 2031, the average life expectancy of Nepali based on birth was 41 years.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Politics in age limit</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the sources, the retirement age was reduced via the Civil Service Act to remove some of the high-ranking employees accustomed to the Panchayat System, who refused to help the new government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Initially, it was thought that it would last only for a short time, but no one took the initiative to change it to 60 years later. The Public Expenditure Review Commission formed under the coordination of Dr Dilliraj Khanal also recommended increasing the retirement age of civil servants to 60 years. As per the report, he said, “In order to reduce the increased liability in pension, the retirement age of all types of public service should be raised to 60 years and only after reaching this age, provision should be made for them to get pension.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The retirement arrangement has not changed, but the average life expectancy will increase, so the state has to give long-term pensions to those who retire at the age of 58. Now the average life expectancy of Nepalis has reached over 71 years. Experts say that the average life expectancy of those who worked in the civil service is more. The government has to pay pension to them for more than 13 years after retirement.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">The number of pensioners increasing</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of pensioners is consistently increasing. As of April 27, 2023, this number stands at 294,000. This is an average increase of 3,039 civil servants in the last 5 years. Similarly, 2,825 policemen, 2,750 teachers, and 4,320 Nepalese Army personnel have been added as well.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Bishnu Prasad Kharel, the head of the Pension Management Office, the additional number of employees who come for pension after taking annual leave is 12,935 on an average, including the army, police, and teachers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The average growth rate of the last 5 years is 6.45 percent,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, last year, the salary of the government employees was increased by almost 15 percent, affecting the pension as well. However, when the budget requested to the government was not provided on time, there was a problem in paying pensions to the retired employees in March and April. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“We did not know that there would be an increase in the salary. Out of the budget of Rs 65 billion requested for pensions, only Rs 52 billion was allocated. As the budget was not enough, we corresponded to allocate more budget. Some amount has been released while some amount is in the process of being released,” said Kharel.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17576', 'image' => '20230512025410_1675890384_1.jpg', 'article_date' => '2023-05-12 14:53:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17843', 'article_category_id' => '1', 'title' => 'Air Pollution Increasing Again ', 'sub_title' => '', 'summary' => 'May 12: Air pollution has started to go up again across the country due to lack of rainfall and growing incidents of forest fire. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: Air pollution has started to go up again across the country due to lack of rainfall and growing incidents of forest fire. According to the latest Air Quality Index (AQI), the AQI at Patan, Lalitpur is 176 and it is 163 at Kirtipur, 163 at Ratnapark in Kathmandu, 171 at Narayani and 155 at Dhankuta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">AQI from 0 to 50 is considered normal and above 150 is hazardous. The AQI in Patan, Kirtipur, Ratnapark, Narayani and Dhankuta is above 150. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Health experts have advised wearing mask while going out of the house as air pollution is likely to harm the health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govinda Jha said haze is seen at many places including in the Kathmandu Valley since the morning due to the increased air pollution. According to him, air pollution is likely to further increase as there is no immediate likelihood of rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said the air in Bhaktpaur, Madhyapur Thimi and Birendranagar is at risk of pollution. The AQI at these places is less than 150. Experts say that people suffering from chronic diseases, children and the elderly people are at risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vehicle emission is also another cause for the increasing level of air pollution. -- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17575', 'image' => '20230512023718_Clipboard09(31).jpg', 'article_date' => '2023-05-12 14:35:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17844', 'article_category_id' => '1', 'title' => 'Israel Marks Diamond Jubilee Independence Day Celebrations', 'sub_title' => '', 'summary' => 'May 12: The Embassy of Israel celebrated 75 years of Israel’s Independence by organizing a special programme in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 12: The Embassy of Israel celebrated 75 years of Israel’s Independence by organizing a special programme in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Issuing a statement on Thursday, the embassy said that the event was attended by Vice President Ramsahay Prasad Yadav who was among the 400 guests from among the government officials, foreign diplomats and media fraternity members.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Welcoming the guests, Ambassador of Israel to Nepal Hanan Goder said, “Israel and Nepal share common values and challenges. As both are small countries, we must always build bridges of good relations with similar countries. Nepal and Israel were and will always remain close friends.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prime Minister of Israel Benjamin Netanyahu offered his congratulations in a video message saying: “75 years ago, we emerged from the Holocaust… today, Israel is a rising power among the world… We have become the example of how you build something seemingly from nothing. We do more with less… We’ve built this, based on the age-old dream that we never gave up to return to our homeland; to rebuild our national life, to be able to defend ourselves, to be able to create and forge a future of peace.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a video message, Minister for Foreign Affairs of Israel Eli Cohen said, “Even when things seem difficult and impossible, think about what we have managed to build and accomplish in just 75 years of independence. Anything is possible, with a little faith.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Israeli seeds were gifted to the guests as a symbol for growth and prosperity.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17574', 'image' => '20230512025227_IMG_2741.jpg', 'article_date' => '2023-05-12 14:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17842', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Bank Rate by 1 Percentage Point', 'sub_title' => 'Interest on Loans and Deposits Likely to Decrease', 'summary' => 'May 12: Nepal Rastra Bank (NRB) has reduced the bank rate by one percentage point to 7.5 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 12: Nepal Rastra Bank (NRB) has reduced the bank rate by one percentage point to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The central bank on Friday released the third quarterly review of the monetary policy for the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">22/23 and reduced the bank rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Along with this, it is estimated that the interest rate on loans and deposits may likely decrease. Bank rate affects the interest rate of loans and deposits. If the bank rate increases, the interest rate will increase and if it decreases, the interest rate will decrease.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank said that the policy rate has been kept unchanged at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Similarly, the NRB has kept the other rates under the interest rate corridor unchanged.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the central bank, the policy rate has been kept unchanged considering the prospects of the foreign exchange reserve to support imports as well as the policy rate of neighboring country and the difference between the inflation rates between the two countries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17573', 'image' => '20230512020352_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-05-12 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17841', 'article_category_id' => '1', 'title' => 'Distribution of New Stock Exchange License Postponed Again', 'sub_title' => '', 'summary' => 'May 12: The process of distributing new stock exchange license by the Securities Board of Nepal (SEBON) has been postponed again.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 12: The process of distributing new stock exchange license by the Securities Board of Nepal (SEBON) has been postponed again.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has decided to halt the license distribution process of the new stock exchange for the time being.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the Council of Ministers on Tuesday decided to proceed ahead with the license distribution process only after further study as questions were raised in the parliament regarding the license of the new stock exchange.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the information provided by the Ministry of Finance, the Council of Ministers has instructed the concerned bodies to proceed with the process only after further study keeping in mind the interests of the investors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the instructions of the Council of Ministers, the Ministry of Finance said it will write letter to SEBON regarding this issue on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the license distribution process of the new stock exchange was postponed due to two separate cases filed at the Supreme Court. The process went ahead after the court quashed the petitions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Three companies have applied for the license of the new stock exchange. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A dispute had surfaced regarding one of the three companies that applied for the new stock exchange license. The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17572', 'image' => '20230512014025_1683867885.Untitled design (11).jpg', 'article_date' => '2023-05-12 13:38:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17840', 'article_category_id' => '1', 'title' => 'Tatopani Transit Point Handling only Limited Cargo Exports', 'sub_title' => '', 'summary' => 'May 12: The Tatopani transit point on the Nepal-China border in Sindhupalchok district had opened for full-fledged operation on May 1, raising high hopes of increased trade. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: The Tatopani transit point on the Nepal-China border in Sindhupalchok district had opened for full-fledged operation on May 1, raising high hopes of increased trade. The transit point was opened more than three years after it was initially closed to control the COVID-19 outbreak in March 2020. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the export through this transit point is not going up as expected. It is seeing partial exports only. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Three containers loaded with utensils and handicraft goods ready for export to Shigatse, China are stuck at Tatopani dry port. These goods were destined for Shigatse in response to the demand placed by Chinese traders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The export is almost non-existent. It has been a week now since the export clearance forms for this consignment were filled up. Instead of the exports picking up pace, even the number of containers carrying imported goods through this transit point is decreasing day by day," said Dayananda KC, chief customs officer at Tatopani Customs Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to KC, although the export through the transit point has been opened, it is only partial. With the opening of export, Nepali traders can now take containers carrying goods for export, including herbs and food grain, up to the midpoint of the Nepal-China Friendship Bridge on the border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Movement of people and normal vehicles is allowed up to Khasa. Only the export of cargo vehicles that has come to a standstill," Chief Customs Officer KC said. His observation is that Nepalis cannot supply adequate goods for export through the transit point like before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the export of food grains, vegetables as well as herbs up to Khasa used to be a good source of income of Nepalis. Around 500 Nepalis used to reside in Khasa as a permanent residents running different activities including hotels. But there is no people in Khasa now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali businesspersons bring apples, garlic and clothes in 6-7 containers up to the Friendship Bridge towards Nepal through Silk Company from Khasa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Silk Company, Bijay Sherpa said that the Nepali businessmen had requested the Chinese side to allow them to go up to Khasa during a recent meeting but they were not positive about it. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had set a target of collecting Rs 4.62 billion in revenue in the current fiscal year from this customs point, but only Rs 2.20 billion has been collected so far. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17571', 'image' => '20230512122723_20211109014016_20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2023-05-12 12:26:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17839', 'article_category_id' => '1', 'title' => 'DPM Shrestha Assures No One will be Spared in Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 12: Deputy Prime Minister and Minister for Home Affairs, Narayan Kaji Shrestha, has said the government will crack down the nexus involved in the scam of sending people to the US in the cover of Bhutanese refugees. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: Deputy Prime Minister and Minister for Home Affairs, Narayan Kaji Shrestha, has said the government will crack down the nexus involved in the scam of sending people to the US in the cover of Bhutanese refugees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his meeting with the leaders of CPN (Unified Socialist on Thursday, the home minister said anyone else found guilty in the case would be prosecuted while no innocent will be framed for the incident. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing the scam as a crime against the state, he said this is not just a case of corruption but an organised crime involving the people from top to bottom. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“This is the crime against the state to make the people statelessness." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that he faced no political pressure for actions against those involved in the scandal, he pledged to conclude the matter substantively. He took time to say that he found Prime Minister Pushpa Kamal Dahal as his strong back-up support for government action against those involved in the fake Bhutanese refugees scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Deputy Prime Minister Shrestha, he has already directed the police administration to go with the investigations against the case confidently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Unified Socialist leaders applauded the government's move in the case and expressed their solidarity against the crime. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17570', 'image' => '20230512114342_1683803227.jpg', 'article_date' => '2023-05-12 11:41:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17838', 'article_category_id' => '1', 'title' => 'Second International Travel Mart begins in Lumbini ', 'sub_title' => '', 'summary' => 'May 12: The Second International Travel Mart 2023 kicked off in Lumbini on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: The Second International Travel Mart 2023 kicked off in Lumbini on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The three-day travel mart is being organized by Ministry of Culture, Tourism and Civil Aviation, Nepal Tourism Board and Nepal Association of Tour and Travels with the objective of bringing in tourists to Lumbini. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice Chairman of Lumbini Development Trust Monk Maittaye (Abadesh Kumar Tripathi) inaugurated the travel mart. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the trust's Vice Chairman Maittaye said that the Buddhist followers should begin their journey from Lumbini itself. He said that Lumbini is a vital site for promoting inspiration, peace and goodwill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Secretary at the Ministry of Tourism Development Suresh Adhikari stated that the Travel Mart was orgnaised to make the country's tourism industry more vibrant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretary at the Ministry of Foreign Affairs Dhan Bahadur Oli, Chief Executive Officer of Nepal Tourism Board Dr Dhananjaya Regmi and Chairman of Hotel Association of Nepal Binayak Shah addressed the event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Twenty eight travel and tour companies from India, Malaysia, China, South Korea, Bangladesh, Myanmar, Thailand, Sri Lanka and other countries are attending the travel mart. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17569', 'image' => '20230512110739_LumbiniRSS.jpg', 'article_date' => '2023-05-12 11:06:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17837', 'article_category_id' => '1', 'title' => 'The National Banking Discourse-2023 to Be Held on May 16', 'sub_title' => '', 'summary' => '“The National Banking Discourse- 2023” is scheduled to be held at Soaltee Hotel in Kathmandu on May 16. The aim of the discourse is to explore solutions to the financial challenges currently faced by the country. Organized by Bankingsamachar.com and sponsored by Nabil Bank Limited, this event promises to provide insightful discussions on various key topics.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 12: “The National Banking Discourse- 2023” is scheduled to be held at Soaltee Hotel in Kathmandu on May 16. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The aim of the discourse is to explore solutions to the financial challenges currently faced by the country. Organized by Bankingsamachar.com and sponsored by Nabil Bank Limited, this event promises to provide insightful discussions on various key topics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The discourse will center on several pertinent issues such as the expectations from the new budget in the current economic climate, the status of digitization of the financial service eco-system, and the present and future of remittance-dependent economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Additionally, there will be discussions on the necessity of financial literacy for long-term and sustainable development. The discourse will also delve into the state of banking, including the problem of high-interest rates, liquidity issues, rumors that lower trust in banks and financial institutions, and the pressure placed on banks through monetary policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">One of the primary objectives of the discourse is to protect big industries while promoting small, medium, and start-up industries. The program aims to explore productive, employment-oriented, and export-oriented areas for investment and to help solve policy-level problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">With the world economy still recovering from the post-COVID-19 pandemic and the recent increase in petroleum and food prices due to Russia's war on Ukraine, this discourse is of significant importance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Notably, the discourse will feature distinguished guests, including the Finance Minister, the NRB Governor, and other dignitaries. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17568', 'image' => '20230512064702_collage (14).jpg', 'article_date' => '2023-05-12 06:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17836', 'article_category_id' => '1', 'title' => 'FinMin Mahat Discusses Budget with International Development Partners', 'sub_title' => '', 'summary' => 'Finance Minister Dr Prakash Sharan Mahat held a productive meeting with heads and representatives of international development partners in Nepal to discuss the budget for the upcoming fiscal year 2080/081 today.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 11: Finance Minister Dr Prakash Sharan Mahat held a productive meeting with heads and representatives of international development partners in Nepal to discuss the budget for the upcoming fiscal year 2080/081 today. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, the Finance Minister shared the government's priorities and the guidelines and principles that will be taken into account for the upcoming budget. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He expressed the government's commitment to making maximum use of available resources while ensuring that investments are directed towards productive sectors to help pay both the principal and interest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The international development partners in attendance expressed their support for the government's priorities and programs, and pledged to mobilize foreign aid through Nepal's national policy, system, and structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They also offered valuable suggestions to improve capital expenditure, management of public institutions, avoiding duplication of expenditure, and the preparation of blueprints for internal resource mobilization.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, there were suggestions to increase investment in health, education, social security, and nutrition, expand the scope of taxes, improve capital expenditure and gradually shift the informal sector to the formal sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Finance Minister also called for substantial subsidies and foreign loans, including aid to address the impact of climate change, which Nepal is not responsible for.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the multilateral development partners such as the World Bank, Asian Development Bank, International Monetary Fund, International Finance Corporation, United States Agency for International Development, Embassies of Japan, Korea, Switzerland, Norway, Finland, Germany, and the European Union were present in the meeting.</span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17567', 'image' => '20230511062708_collage (6).jpg', 'article_date' => '2023-05-11 18:25:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17835', 'article_category_id' => '1', 'title' => 'NAC to Purchase Two Airplanes', 'sub_title' => '', 'summary' => 'Nepal Airlines Corporation (NAC) has formed a sub-committee to forward a plan to procure two airplanes. ', 'content' => '<p><span style="font-size:18px">May 11: Nepal Airlines Corporation (NAC) has formed a sub-committee to forward a plan to procure two airplanes. </span></p> <p><span style="font-size:18px">The national flag-carrier has brought this plan for purchasing two aircrafts to operate flights in urban destinations to increase air connectivity at the provincial level, according to the NAC.</span></p> <p><span style="font-size:18px">A meeting of the NAC Board of Directors held on May 9 formed a nine-member sub-committee headed by Senior Captain Sudhir Samsher Rai for this purpose.</span></p> <p><span style="font-size:18px"> The sub-committee has started its work with the goal of submitting a report within 21 days. </span></p> <p><span style="font-size:18px">NAC has not been able to operate flights to the urban and commercially viable areas at present due to the shortage of aircraft to fly to airports in the urban areas, reads the statement issued by the NAC. </span></p> <p><span style="font-size:18px">“With the procurement of new aircrafts, NAC can operate provincial flights from Kathmandu, Biratnagar, Bhairahawa, Pokhara, Nepalgunj, Dhangadhi, among other cities to increase air connectivity," according to the NAC. ---RSS</span><br /> </p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17566', 'image' => '20230511053940_collage (5).jpg', 'article_date' => '2023-05-11 17:38:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17834', 'article_category_id' => '1', 'title' => 'Private Sector Expects Budget to Focus on Production Growth', 'sub_title' => '', 'summary' => 'May 11: The government is in the process of preparing the budget for the next fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 11: The government is in the process of preparing the budget for the next fiscal year (FY 2023/24)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has asked for suggestions from the stakeholders regarding the next year's budget. Stakeholders emphasized that the upcoming budget should solve the problems faced by the economy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anil Aggarwal, president of Birgunj Chamber of Commerce and Industry, says that the government should identify the real needs and address those issue through the budget instead of announcing a populist budget with catchy slogans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“If we look at the budgets of the past few years, there is a tendency to unveil a big budget with catchy slogans and plans first, and then to downsize the budget after six months. Such a budget cannot solve the problems," said Agarwal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hari Gautam, senior vice president of the association, says that the world economy is heading towards recession since the outbreak of coronavirus pandemic, and the budget should address this issue in order to protect the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The main objective of the budget should be to increase production and employment. For this, the budget should prioritize industry and production," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Experts say that the size of the budget is usually big just to please the people through populist programmes rather that those necessary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They also claim that the implementation of such a budget will be weak. They suggest that the government should be serious about this as the budget is not only a statement of income and expenditure but also the basis of development plans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Subodh Kumar Gupta, chairman of the Trade Committee under the Federation of Nepalese Chamber of Commerce and Industry, says that the budget should address the concerns of the industry and business sector. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Production and trade are complementary to each other. In the past, when the government controlled the business, the production was also affected," argues Gupta. "Instead of control the business, what is needed now is the policy of facilitation." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He suggests that the government should also pay attention to the impacts on the consumers when changing the policy related to any business.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anup Aggarwal, the former president of the Nepalese Youth Entrepreneurs Forum, says that the government should ease the policy to promote entrepreneurship. He said that a policy should be taken to connect youth and entrepreneurship. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Now is the time for innovation. A policy to encourage start-up and innovation is necessary,” said Agarwal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Young entrepreneurs are of the opinion that the budget should prioritize the use of technology and maximum utilization of opportunities in the economy. Entrepreneurs have requested to come up with a solid plan to solve the problem of lack of liquidity and high interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At a time when there is a slowdown in business due to the coronavirus pandemic, the current capital loan guideline has added to the problems of the business community. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Madhav Rajpal, another vice president of Birgunj Chamber of Industry and Commerce, said that the government must release billions of rupees that have not been paid to the builders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Industries related to construction materials can flourish only when the government releases the fund to the builders. This can have a cyclical effect on the overall economy,” said Rajpal.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17565', 'image' => '20230511021044_1683767264.jpg', 'article_date' => '2023-05-11 14:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17833', 'article_category_id' => '251', 'title' => 'Nepal: A Laboratory for Political Experimentation ', 'sub_title' => '', 'summary' => 'Nepal has been a laboratory for different parties and institution to experiment their system of government and ideologies for much of its modern history. It is high time we avoid experimenting with another political set-up. ', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">May 11: Nepal, a small landlocked country sandwiched between India and China, has been a political laboratory for much of its modern history. From the early 1900s to the present day, Nepal has experimented with various governance system, and political ideologies in its quest to establish a stable and prosperous society. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Corruption, irregularities, lack of inclusivity, monopoly over resources and myopic leadership have led to the frequent shift of political power and governance model, making the country a testing ground of political forces and centuries-old institution of monarchy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Rana regime in Nepal, also known as the Rana dynasty, was an autocratic regime that lasted from 1846 to 1951. The Ranas were a powerful noble family who held de facto control over the government of Nepal during this period, with the titular king serving as a figurehead. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas were able to maintain their grip on power through a combination of military force, political manipulation, and suppression of dissent. Under the Rana regime, there was little to no political freedom or democratic participation, and civil liberties were severely restricted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas implemented a strict caste-based social hierarchy, with themselves at the top, and the majority of the population subjected to various forms of discrimination and exploitation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1951, a popular uprising led to the downfall of the Rana regime. Then, Nepal held democratic elections in 1959 and Nepali Congress won the polls. With the holding of the polls, Nepal adopted a parliamentary system of governance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Unfortunately, the government led by NC’s BP Koirala did not last long then King Mahendra dissolved the parliament in 1960 citing corruption, political instability and Nepal being too close to India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Mahendra established a party-less system of governance, known as the Panchayat system. Under this system, power was centralized, and political parties were banned. Power was oncentrated in the hands of the King and his appointed officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The King acted as the ultimate authority, and all decisions were made by him and his close advisors. There was little scope for democratic participation, and the people had limited say in the governance of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During the Panchayat period, Nepal saw some progress in economic development, education, and infrastructure. However, there was also widespread corruption, political repression, and human rights abuses. Political dissent was not tolerated, and opposition leaders, activists, and journalists were often arrested and tortured.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During 1990s, the wave of democracy was sweeping across the world and Nepal was not left untouched by the spillover of the democratic wave. Two political parties- Nepali Congress and Leftist parties campaigned for the restoration of democracy in in hush-hush manner in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Panchayat system came to an end in 1990, following a pro-democracy movement led by political parties, intellectuals, and students. The movement culminated in a peaceful revolution, which forced King Birendra to accept a new democratic constitution that established a multi-party system of governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1990, late King Birendra agreed to hold elections and establish a constitutional monarchy with a parliamentary system of governance. The Nepali Congress Party won the democratic elections in 1991, and a new constitution was adopted in 1991, marking the beginning of Nepal's second experiment with democratic form of the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The democratic experiment of the 1990s was marked by political instability, corruption, and ethnic tensions. People’s hopes for development and good governance were dashed away. The Nepali Congress Party was plagued by infighting and corruption allegations, leading to a loss of public confidence. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Meanwhile, ethnic and regional tensions simmered beneath the surface, with marginalized communities demanding greater political representation and autonomy. Failure of Nepali Congress to guide the country to the path of development, prosperity and good governance caused the frequent changes of the governments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In October 2002, King Gyanendra dissolved the Parliament and he appointed a series of prime ministers. In February 2005 he dismissed the Prime Minister and cabinet and assumed direct power through a coup. Initially, public had given king a benefit of doubt, fed up with parties and successive governments’ failure to deliver services to them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As time passed by, king started showing his true colour by appointing corrupt former royalists and bootlickers to the Cabinet. Human rights violations, censorship on press freedom and corruption made people believe that king was no longer a fitful person to address people’s problems and burning then problem of Maoist insurgency. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Even supporters of the king quickly turned into fierce critics because of his authoritarian grip over the government and restrictions placed on people’s lives. As a result, the royal coup was met with widespread protests and civil disobedience calling for democracy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royal coup was followed by a decade-long Maoist insurgency, which began in 1996 and ended in 2006. The Maoists, led by Pushpa Kamal Dahal Prachanda, inspired by China’s Mao Zedong and his philosophy, had waged the insurgency for the establishment of a republic and the overthrow of the monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The insurgency was marked by violence, human rights abuses, and political instability, with the Maoists carrying out attacks on government installations, civilians, and security forces. The insurgency lasted for a decade and claimed the lives of over 16,000 people, until a peace agreement was reached in 2006.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The post-peace agreement was marked by significant political changes. The 240-year-old monarchy was officially abolished in Nepal on May 28, 2008, when the Constituent Assembly declared Nepal a Federal Democratic Republic. Nepal adopted a new constitution in 2015. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These changes aimed to address the country's longstanding political and social issues, including the marginalization of ethnic and religious minorities, the centralization of power, and the lack of economic opportunities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The adoption of the new constitution in 2015 recognized the rights of marginalized communities and established Nepal as a secular, federal democratic republic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Nepal's political experimentation has not only been limited to the establishment of new political systems and the adoption of new constitutions. The country has also undergone ideological shifts, with various political parties and groups espousing different ideologies, including communism, democracy, and monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Maoist) emerged as a major political force in the country during the insurgency, advocating for a communist state. However, following the peace agreement, the party entered mainstream politics and has since moderated its stance, forming alliances with other political parties. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Nepali Congress Party, founded in 1947, has been a prominent force in Nepali politics, advocating for democracy and liberal values. The party played a key role in the restoration of democracy in 1990 and has formed multiple governments since then.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Unified Marxist-Leninist) is another prominent political party in Nepal, advocating for socialism and secularism. The party has formed multiple governments since the establishment of the federal democratic republic in 2008 and has played a key role in the drafting and adoption of the new constitution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">After parliamentary polls of 2022 and by-polls of 2023, the Rastriya Swotantra Party has emerged as a potent political force, gaining the support of voters who have grown disillusioned with the corruption, irregularities, and lack of good governance that have plagued the traditional major parties, namely Nepali Congress, CPN-UML, and CPN-Maoist Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Comprised mainly of youthful members from various sectors and parties, the new party won 21 seats in the House of Representatives, and many predict that it will emerge as the single largest party in the next general elections in five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite the party's popularity, it has not clearly articulated its political agenda. The Rastriya Swotantra Party has yet to state its stance on crucial issues such as the federal set-up, the country's economic model, secularism, and the democratic republic. This lack of clarity has left many people skeptical about the party's future path if it does win the polls after five years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Moreover, the Rastriya Prajatantra Party, a party of former royals, has also made significant gains from the 2022 polls. The party's political agenda is clear: they aim to restore the monarchy and make former king Gyanendra the ceremonial head of the state. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royalist party has been organizing civil felicitations for former king Gyanendra Shah in various parts of the country and a section of people are hell-bent on reviving the role of overthrown monarchy in one or another way. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These recent developments and widespread corruption, economic downturn, and inadequate service delivery by the government, coupled with financial anomalies and a lack of employment opportunities, have caused growing anger and frustration among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These factors have raised concerns that Nepal may be heading towards another period of political instability, resulting in the experimentation of another political structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It is therefore crucial that Nepali politicians and citizens remain vigilant to keep democratic political model intact to avoid testing of another political ideology and government system. </span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17564', 'image' => '20230511014522_collage (15) (1).jpg', 'article_date' => '2023-05-11 13:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><br /> May 12: Prime Minister Pushpa Kamal Dahal 'Prachanda' has pledged to bring anyone involved in the fake Bhutanese refugee scandal to justice. </p> <p>Receiving the memo submitted by the Rastriya Prajatantra Party (RPP) in the Office of the Prime Minister and Council of Ministers today, PM Dahal asserted that the government was clear that the guilty must not be spared while the innocent ones should not be prosecuted in the scam.</p> <p> Police have been busting the racket sending people to the United States identifying them as the Bhutanese refugee. Over a dozen of people have been arrested in connection to the scam including some high-profile individuals.</p> <p> The PM assured the RPP team that there will not be any influence of pressure in the ongoing investigation into the scam. Stating that the incumbent government was fully committed for the implementation of the good-governance, prosperity and constitution, Dahal said that he will not give into any pressure or influence regarding the scam. </p> <p>RPP Chairperson Lingden, in the memo, demanded an investigation into the property of the political leadership and bureaucrats after the 2046 BS. </p> <p>Talking to media persons after submitting the memo to the PM, RPP Chair Lingden shared that they had drawn the attention of the PM towards impartial investigation into the fake Bhutanese refugee scam. </p> <p>The PM acknowledged the memo and assured there will not be any error regarding the investigation into the scam, said Lingden, quoting the PM as saying. ---RSS <br /> <br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17578', 'image' => '20230512071900_collage (8).jpg', 'article_date' => '2023-05-12 19:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17846', 'article_category_id' => '1', 'title' => 'NAC Starts Regular Flight at Resunga Airport ', 'sub_title' => '', 'summary' => 'Regular flights have started to and from the Resunga Airport in Gulmi from Friday. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 12: Regular flights have started to and from the Resunga Airport in Gulmi from Friday. </span></p> <p><span style="font-size:18px">The Twin Otter aircraft of Nepal Airlines Corporation has started operating regular flights. The Nepal Airlines Corporation (NAC) has prepared to operate flights on Tuesdays as well. </span></p> <p><span style="font-size:18px">The NAC’s aircraft had successfully conducted a test flight at Resunga airport two weeks ago, confirming that people from Gulmi could avail air service. </span></p> <p><span style="font-size:18px">Akhileshwor Pandey, a resident of Ward No. 1 of Resunga Municipality, who was the first passenger to come in the commercial flight, said that he felt safe, comfortable, and reliable and reached his home district quickly.</span></p> <p><span style="font-size:18px">Furthermore, Parvati Bhusal of the Gulmi Durbar Rural Municipality-2 said that she could arrive Gulmi from Kathmandu in a short time. “The air connectivity has brought Gulmi and Kathmandu closer,” said Bhusal.</span></p> <p><span style="font-size:18px"> The aircraft that flew from Tribhuvan International Airport in Kathmandu at 6:30 am landed at Resunga Airport at 7:15 AM. According to Captain Manish Bista, the captain of the flight, flight along the Kathmandu- Resunga airport will now be regular every Friday.</span></p> <p><span style="font-size:18px"> "Looking at the condition of the airport during the test, we conducted the flight in the morning. There will be flights only on Fridays for now, and we have prepared to operate flights on Tuesdays as well," said Captain Bista.</span></p> <p><span style="font-size:18px">Khildhowj Panthi, chief of Resunga Municipality, shared that NAC had started its flight to Resunga Airport after prolonged efforts. “The direct flight from TIA to Resunga Airport has made dream of the people of Gulmi to avail air service a reality,” Panthii added.</span></p> <p><span style="font-size:18px">Panthi expressed his happiness for the start of regular air services from the airport. He said that the airport would be a milestone for the development of the municipality and surrounding areas. </span></p> <p><span style="font-size:18px">On the first commercial flight of the NAC, 14 passengers were on board the plane that landed at the Resunga Airport. The NAC aircraft had departed from the Resunga Airport with 14 passengers on board in its return flight. </span></p> <p><span style="font-size:18px">The NAC is preparing to carry 18 passengers on its next flight as per aircraft’s capacity. The fare has been set at Rs. 6,300 per passenger.</span></p> <p><span style="font-size:18px">Earlier, Tara Air's plane had conducted a test flight at the Resunga Airport on June 8, 2018 and December 29, 2018. However, the plane's flights were suspended citing expensive fare. </span></p> <p><span style="font-size:18px">The airport is spread over an area of 156 ropanis and was constructed at a cost of Rs. 35 crores. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17577', 'image' => '20230512050848_collage (7).jpg', 'article_date' => '2023-05-12 17:01:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17845', 'article_category_id' => '1', 'title' => 'Government Struggling to Manage Pension Fund', 'sub_title' => '', 'summary' => 'May 12: It has become difficult for the government to pay pension to retired employees.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 12: It has become difficult for the government to pay pension to retired employees. The burden on the state is increasing with the increase in the average life expectancy and decline in the working age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since the Civil Service Act is not up to date, and government employees who want to continue working and are capable of working within the age limit have had to retire, causing an extra burden to the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The average life expectancy of Nepalese was 35.2 years in 1959 and the mandatory retirement age was 60 years. The Civil Service Act, 2049 reduced the retirement age to 58 years as per the recommendation of the High Level Administration Reform Commission formed by the then Prime Minister Girija Prasad Koirala. The retirement age for judges and university professors is higher than this at 66 years and 63 years respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">At the time when the Act was promulgated, the average life expectancy of a Nepali had reached 56 years and employees who retired at the age of 60 did not need to be given pension for many years. At the time of promulgation of the Civil Service Act, 2049, it appears that the citizens eligible to enter the civil service were born in the year 2031 (when the period of service entry was set at 18 years). In the year 2031, the average life expectancy of Nepali based on birth was 41 years.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Politics in age limit</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the sources, the retirement age was reduced via the Civil Service Act to remove some of the high-ranking employees accustomed to the Panchayat System, who refused to help the new government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Initially, it was thought that it would last only for a short time, but no one took the initiative to change it to 60 years later. The Public Expenditure Review Commission formed under the coordination of Dr Dilliraj Khanal also recommended increasing the retirement age of civil servants to 60 years. As per the report, he said, “In order to reduce the increased liability in pension, the retirement age of all types of public service should be raised to 60 years and only after reaching this age, provision should be made for them to get pension.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The retirement arrangement has not changed, but the average life expectancy will increase, so the state has to give long-term pensions to those who retire at the age of 58. Now the average life expectancy of Nepalis has reached over 71 years. Experts say that the average life expectancy of those who worked in the civil service is more. The government has to pay pension to them for more than 13 years after retirement.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">The number of pensioners increasing</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of pensioners is consistently increasing. As of April 27, 2023, this number stands at 294,000. This is an average increase of 3,039 civil servants in the last 5 years. Similarly, 2,825 policemen, 2,750 teachers, and 4,320 Nepalese Army personnel have been added as well.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Bishnu Prasad Kharel, the head of the Pension Management Office, the additional number of employees who come for pension after taking annual leave is 12,935 on an average, including the army, police, and teachers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The average growth rate of the last 5 years is 6.45 percent,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, last year, the salary of the government employees was increased by almost 15 percent, affecting the pension as well. However, when the budget requested to the government was not provided on time, there was a problem in paying pensions to the retired employees in March and April. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“We did not know that there would be an increase in the salary. Out of the budget of Rs 65 billion requested for pensions, only Rs 52 billion was allocated. As the budget was not enough, we corresponded to allocate more budget. Some amount has been released while some amount is in the process of being released,” said Kharel.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17576', 'image' => '20230512025410_1675890384_1.jpg', 'article_date' => '2023-05-12 14:53:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17843', 'article_category_id' => '1', 'title' => 'Air Pollution Increasing Again ', 'sub_title' => '', 'summary' => 'May 12: Air pollution has started to go up again across the country due to lack of rainfall and growing incidents of forest fire. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: Air pollution has started to go up again across the country due to lack of rainfall and growing incidents of forest fire. According to the latest Air Quality Index (AQI), the AQI at Patan, Lalitpur is 176 and it is 163 at Kirtipur, 163 at Ratnapark in Kathmandu, 171 at Narayani and 155 at Dhankuta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">AQI from 0 to 50 is considered normal and above 150 is hazardous. The AQI in Patan, Kirtipur, Ratnapark, Narayani and Dhankuta is above 150. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Health experts have advised wearing mask while going out of the house as air pollution is likely to harm the health. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govinda Jha said haze is seen at many places including in the Kathmandu Valley since the morning due to the increased air pollution. According to him, air pollution is likely to further increase as there is no immediate likelihood of rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said the air in Bhaktpaur, Madhyapur Thimi and Birendranagar is at risk of pollution. The AQI at these places is less than 150. Experts say that people suffering from chronic diseases, children and the elderly people are at risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vehicle emission is also another cause for the increasing level of air pollution. -- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17575', 'image' => '20230512023718_Clipboard09(31).jpg', 'article_date' => '2023-05-12 14:35:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17844', 'article_category_id' => '1', 'title' => 'Israel Marks Diamond Jubilee Independence Day Celebrations', 'sub_title' => '', 'summary' => 'May 12: The Embassy of Israel celebrated 75 years of Israel’s Independence by organizing a special programme in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 12: The Embassy of Israel celebrated 75 years of Israel’s Independence by organizing a special programme in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Issuing a statement on Thursday, the embassy said that the event was attended by Vice President Ramsahay Prasad Yadav who was among the 400 guests from among the government officials, foreign diplomats and media fraternity members.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Welcoming the guests, Ambassador of Israel to Nepal Hanan Goder said, “Israel and Nepal share common values and challenges. As both are small countries, we must always build bridges of good relations with similar countries. Nepal and Israel were and will always remain close friends.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prime Minister of Israel Benjamin Netanyahu offered his congratulations in a video message saying: “75 years ago, we emerged from the Holocaust… today, Israel is a rising power among the world… We have become the example of how you build something seemingly from nothing. We do more with less… We’ve built this, based on the age-old dream that we never gave up to return to our homeland; to rebuild our national life, to be able to defend ourselves, to be able to create and forge a future of peace.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a video message, Minister for Foreign Affairs of Israel Eli Cohen said, “Even when things seem difficult and impossible, think about what we have managed to build and accomplish in just 75 years of independence. Anything is possible, with a little faith.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Israeli seeds were gifted to the guests as a symbol for growth and prosperity.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17574', 'image' => '20230512025227_IMG_2741.jpg', 'article_date' => '2023-05-12 14:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17842', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Bank Rate by 1 Percentage Point', 'sub_title' => 'Interest on Loans and Deposits Likely to Decrease', 'summary' => 'May 12: Nepal Rastra Bank (NRB) has reduced the bank rate by one percentage point to 7.5 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 12: Nepal Rastra Bank (NRB) has reduced the bank rate by one percentage point to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The central bank on Friday released the third quarterly review of the monetary policy for the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">22/23 and reduced the bank rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Along with this, it is estimated that the interest rate on loans and deposits may likely decrease. Bank rate affects the interest rate of loans and deposits. If the bank rate increases, the interest rate will increase and if it decreases, the interest rate will decrease.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank said that the policy rate has been kept unchanged at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Similarly, the NRB has kept the other rates under the interest rate corridor unchanged.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the central bank, the policy rate has been kept unchanged considering the prospects of the foreign exchange reserve to support imports as well as the policy rate of neighboring country and the difference between the inflation rates between the two countries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17573', 'image' => '20230512020352_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-05-12 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17841', 'article_category_id' => '1', 'title' => 'Distribution of New Stock Exchange License Postponed Again', 'sub_title' => '', 'summary' => 'May 12: The process of distributing new stock exchange license by the Securities Board of Nepal (SEBON) has been postponed again.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 12: The process of distributing new stock exchange license by the Securities Board of Nepal (SEBON) has been postponed again.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has decided to halt the license distribution process of the new stock exchange for the time being.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the Council of Ministers on Tuesday decided to proceed ahead with the license distribution process only after further study as questions were raised in the parliament regarding the license of the new stock exchange.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the information provided by the Ministry of Finance, the Council of Ministers has instructed the concerned bodies to proceed with the process only after further study keeping in mind the interests of the investors. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the instructions of the Council of Ministers, the Ministry of Finance said it will write letter to SEBON regarding this issue on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the license distribution process of the new stock exchange was postponed due to two separate cases filed at the Supreme Court. The process went ahead after the court quashed the petitions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Three companies have applied for the license of the new stock exchange. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A dispute had surfaced regarding one of the three companies that applied for the new stock exchange license. The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17572', 'image' => '20230512014025_1683867885.Untitled design (11).jpg', 'article_date' => '2023-05-12 13:38:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17840', 'article_category_id' => '1', 'title' => 'Tatopani Transit Point Handling only Limited Cargo Exports', 'sub_title' => '', 'summary' => 'May 12: The Tatopani transit point on the Nepal-China border in Sindhupalchok district had opened for full-fledged operation on May 1, raising high hopes of increased trade. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: The Tatopani transit point on the Nepal-China border in Sindhupalchok district had opened for full-fledged operation on May 1, raising high hopes of increased trade. The transit point was opened more than three years after it was initially closed to control the COVID-19 outbreak in March 2020. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the export through this transit point is not going up as expected. It is seeing partial exports only. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Three containers loaded with utensils and handicraft goods ready for export to Shigatse, China are stuck at Tatopani dry port. These goods were destined for Shigatse in response to the demand placed by Chinese traders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The export is almost non-existent. It has been a week now since the export clearance forms for this consignment were filled up. Instead of the exports picking up pace, even the number of containers carrying imported goods through this transit point is decreasing day by day," said Dayananda KC, chief customs officer at Tatopani Customs Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to KC, although the export through the transit point has been opened, it is only partial. With the opening of export, Nepali traders can now take containers carrying goods for export, including herbs and food grain, up to the midpoint of the Nepal-China Friendship Bridge on the border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Movement of people and normal vehicles is allowed up to Khasa. Only the export of cargo vehicles that has come to a standstill," Chief Customs Officer KC said. His observation is that Nepalis cannot supply adequate goods for export through the transit point like before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the export of food grains, vegetables as well as herbs up to Khasa used to be a good source of income of Nepalis. Around 500 Nepalis used to reside in Khasa as a permanent residents running different activities including hotels. But there is no people in Khasa now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali businesspersons bring apples, garlic and clothes in 6-7 containers up to the Friendship Bridge towards Nepal through Silk Company from Khasa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Manager of Silk Company, Bijay Sherpa said that the Nepali businessmen had requested the Chinese side to allow them to go up to Khasa during a recent meeting but they were not positive about it. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had set a target of collecting Rs 4.62 billion in revenue in the current fiscal year from this customs point, but only Rs 2.20 billion has been collected so far. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17571', 'image' => '20230512122723_20211109014016_20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2023-05-12 12:26:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17839', 'article_category_id' => '1', 'title' => 'DPM Shrestha Assures No One will be Spared in Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 12: Deputy Prime Minister and Minister for Home Affairs, Narayan Kaji Shrestha, has said the government will crack down the nexus involved in the scam of sending people to the US in the cover of Bhutanese refugees. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: Deputy Prime Minister and Minister for Home Affairs, Narayan Kaji Shrestha, has said the government will crack down the nexus involved in the scam of sending people to the US in the cover of Bhutanese refugees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his meeting with the leaders of CPN (Unified Socialist on Thursday, the home minister said anyone else found guilty in the case would be prosecuted while no innocent will be framed for the incident. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing the scam as a crime against the state, he said this is not just a case of corruption but an organised crime involving the people from top to bottom. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“This is the crime against the state to make the people statelessness." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that he faced no political pressure for actions against those involved in the scandal, he pledged to conclude the matter substantively. He took time to say that he found Prime Minister Pushpa Kamal Dahal as his strong back-up support for government action against those involved in the fake Bhutanese refugees scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Deputy Prime Minister Shrestha, he has already directed the police administration to go with the investigations against the case confidently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Unified Socialist leaders applauded the government's move in the case and expressed their solidarity against the crime. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17570', 'image' => '20230512114342_1683803227.jpg', 'article_date' => '2023-05-12 11:41:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17838', 'article_category_id' => '1', 'title' => 'Second International Travel Mart begins in Lumbini ', 'sub_title' => '', 'summary' => 'May 12: The Second International Travel Mart 2023 kicked off in Lumbini on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 12: The Second International Travel Mart 2023 kicked off in Lumbini on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The three-day travel mart is being organized by Ministry of Culture, Tourism and Civil Aviation, Nepal Tourism Board and Nepal Association of Tour and Travels with the objective of bringing in tourists to Lumbini. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice Chairman of Lumbini Development Trust Monk Maittaye (Abadesh Kumar Tripathi) inaugurated the travel mart. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the trust's Vice Chairman Maittaye said that the Buddhist followers should begin their journey from Lumbini itself. He said that Lumbini is a vital site for promoting inspiration, peace and goodwill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Secretary at the Ministry of Tourism Development Suresh Adhikari stated that the Travel Mart was orgnaised to make the country's tourism industry more vibrant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretary at the Ministry of Foreign Affairs Dhan Bahadur Oli, Chief Executive Officer of Nepal Tourism Board Dr Dhananjaya Regmi and Chairman of Hotel Association of Nepal Binayak Shah addressed the event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Twenty eight travel and tour companies from India, Malaysia, China, South Korea, Bangladesh, Myanmar, Thailand, Sri Lanka and other countries are attending the travel mart. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17569', 'image' => '20230512110739_LumbiniRSS.jpg', 'article_date' => '2023-05-12 11:06:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17837', 'article_category_id' => '1', 'title' => 'The National Banking Discourse-2023 to Be Held on May 16', 'sub_title' => '', 'summary' => '“The National Banking Discourse- 2023” is scheduled to be held at Soaltee Hotel in Kathmandu on May 16. The aim of the discourse is to explore solutions to the financial challenges currently faced by the country. Organized by Bankingsamachar.com and sponsored by Nabil Bank Limited, this event promises to provide insightful discussions on various key topics.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 12: “The National Banking Discourse- 2023” is scheduled to be held at Soaltee Hotel in Kathmandu on May 16. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The aim of the discourse is to explore solutions to the financial challenges currently faced by the country. Organized by Bankingsamachar.com and sponsored by Nabil Bank Limited, this event promises to provide insightful discussions on various key topics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The discourse will center on several pertinent issues such as the expectations from the new budget in the current economic climate, the status of digitization of the financial service eco-system, and the present and future of remittance-dependent economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Additionally, there will be discussions on the necessity of financial literacy for long-term and sustainable development. The discourse will also delve into the state of banking, including the problem of high-interest rates, liquidity issues, rumors that lower trust in banks and financial institutions, and the pressure placed on banks through monetary policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">One of the primary objectives of the discourse is to protect big industries while promoting small, medium, and start-up industries. The program aims to explore productive, employment-oriented, and export-oriented areas for investment and to help solve policy-level problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">With the world economy still recovering from the post-COVID-19 pandemic and the recent increase in petroleum and food prices due to Russia's war on Ukraine, this discourse is of significant importance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Notably, the discourse will feature distinguished guests, including the Finance Minister, the NRB Governor, and other dignitaries. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-12', 'modified' => '2023-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '17568', 'image' => '20230512064702_collage (14).jpg', 'article_date' => '2023-05-12 06:43:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17836', 'article_category_id' => '1', 'title' => 'FinMin Mahat Discusses Budget with International Development Partners', 'sub_title' => '', 'summary' => 'Finance Minister Dr Prakash Sharan Mahat held a productive meeting with heads and representatives of international development partners in Nepal to discuss the budget for the upcoming fiscal year 2080/081 today.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 11: Finance Minister Dr Prakash Sharan Mahat held a productive meeting with heads and representatives of international development partners in Nepal to discuss the budget for the upcoming fiscal year 2080/081 today. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, the Finance Minister shared the government's priorities and the guidelines and principles that will be taken into account for the upcoming budget. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He expressed the government's commitment to making maximum use of available resources while ensuring that investments are directed towards productive sectors to help pay both the principal and interest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The international development partners in attendance expressed their support for the government's priorities and programs, and pledged to mobilize foreign aid through Nepal's national policy, system, and structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They also offered valuable suggestions to improve capital expenditure, management of public institutions, avoiding duplication of expenditure, and the preparation of blueprints for internal resource mobilization.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, there were suggestions to increase investment in health, education, social security, and nutrition, expand the scope of taxes, improve capital expenditure and gradually shift the informal sector to the formal sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Finance Minister also called for substantial subsidies and foreign loans, including aid to address the impact of climate change, which Nepal is not responsible for.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the multilateral development partners such as the World Bank, Asian Development Bank, International Monetary Fund, International Finance Corporation, United States Agency for International Development, Embassies of Japan, Korea, Switzerland, Norway, Finland, Germany, and the European Union were present in the meeting.</span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17567', 'image' => '20230511062708_collage (6).jpg', 'article_date' => '2023-05-11 18:25:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17835', 'article_category_id' => '1', 'title' => 'NAC to Purchase Two Airplanes', 'sub_title' => '', 'summary' => 'Nepal Airlines Corporation (NAC) has formed a sub-committee to forward a plan to procure two airplanes. ', 'content' => '<p><span style="font-size:18px">May 11: Nepal Airlines Corporation (NAC) has formed a sub-committee to forward a plan to procure two airplanes. </span></p> <p><span style="font-size:18px">The national flag-carrier has brought this plan for purchasing two aircrafts to operate flights in urban destinations to increase air connectivity at the provincial level, according to the NAC.</span></p> <p><span style="font-size:18px">A meeting of the NAC Board of Directors held on May 9 formed a nine-member sub-committee headed by Senior Captain Sudhir Samsher Rai for this purpose.</span></p> <p><span style="font-size:18px"> The sub-committee has started its work with the goal of submitting a report within 21 days. </span></p> <p><span style="font-size:18px">NAC has not been able to operate flights to the urban and commercially viable areas at present due to the shortage of aircraft to fly to airports in the urban areas, reads the statement issued by the NAC. </span></p> <p><span style="font-size:18px">“With the procurement of new aircrafts, NAC can operate provincial flights from Kathmandu, Biratnagar, Bhairahawa, Pokhara, Nepalgunj, Dhangadhi, among other cities to increase air connectivity," according to the NAC. ---RSS</span><br /> </p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17566', 'image' => '20230511053940_collage (5).jpg', 'article_date' => '2023-05-11 17:38:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17834', 'article_category_id' => '1', 'title' => 'Private Sector Expects Budget to Focus on Production Growth', 'sub_title' => '', 'summary' => 'May 11: The government is in the process of preparing the budget for the next fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 11: The government is in the process of preparing the budget for the next fiscal year (FY 2023/24)</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has asked for suggestions from the stakeholders regarding the next year's budget. Stakeholders emphasized that the upcoming budget should solve the problems faced by the economy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anil Aggarwal, president of Birgunj Chamber of Commerce and Industry, says that the government should identify the real needs and address those issue through the budget instead of announcing a populist budget with catchy slogans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“If we look at the budgets of the past few years, there is a tendency to unveil a big budget with catchy slogans and plans first, and then to downsize the budget after six months. Such a budget cannot solve the problems," said Agarwal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hari Gautam, senior vice president of the association, says that the world economy is heading towards recession since the outbreak of coronavirus pandemic, and the budget should address this issue in order to protect the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The main objective of the budget should be to increase production and employment. For this, the budget should prioritize industry and production," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Experts say that the size of the budget is usually big just to please the people through populist programmes rather that those necessary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They also claim that the implementation of such a budget will be weak. They suggest that the government should be serious about this as the budget is not only a statement of income and expenditure but also the basis of development plans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Subodh Kumar Gupta, chairman of the Trade Committee under the Federation of Nepalese Chamber of Commerce and Industry, says that the budget should address the concerns of the industry and business sector. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Production and trade are complementary to each other. In the past, when the government controlled the business, the production was also affected," argues Gupta. "Instead of control the business, what is needed now is the policy of facilitation." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He suggests that the government should also pay attention to the impacts on the consumers when changing the policy related to any business.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anup Aggarwal, the former president of the Nepalese Youth Entrepreneurs Forum, says that the government should ease the policy to promote entrepreneurship. He said that a policy should be taken to connect youth and entrepreneurship. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Now is the time for innovation. A policy to encourage start-up and innovation is necessary,” said Agarwal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Young entrepreneurs are of the opinion that the budget should prioritize the use of technology and maximum utilization of opportunities in the economy. Entrepreneurs have requested to come up with a solid plan to solve the problem of lack of liquidity and high interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At a time when there is a slowdown in business due to the coronavirus pandemic, the current capital loan guideline has added to the problems of the business community. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Madhav Rajpal, another vice president of Birgunj Chamber of Industry and Commerce, said that the government must release billions of rupees that have not been paid to the builders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Industries related to construction materials can flourish only when the government releases the fund to the builders. This can have a cyclical effect on the overall economy,” said Rajpal.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17565', 'image' => '20230511021044_1683767264.jpg', 'article_date' => '2023-05-11 14:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17833', 'article_category_id' => '251', 'title' => 'Nepal: A Laboratory for Political Experimentation ', 'sub_title' => '', 'summary' => 'Nepal has been a laboratory for different parties and institution to experiment their system of government and ideologies for much of its modern history. It is high time we avoid experimenting with another political set-up. ', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">May 11: Nepal, a small landlocked country sandwiched between India and China, has been a political laboratory for much of its modern history. From the early 1900s to the present day, Nepal has experimented with various governance system, and political ideologies in its quest to establish a stable and prosperous society. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Corruption, irregularities, lack of inclusivity, monopoly over resources and myopic leadership have led to the frequent shift of political power and governance model, making the country a testing ground of political forces and centuries-old institution of monarchy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Rana regime in Nepal, also known as the Rana dynasty, was an autocratic regime that lasted from 1846 to 1951. The Ranas were a powerful noble family who held de facto control over the government of Nepal during this period, with the titular king serving as a figurehead. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas were able to maintain their grip on power through a combination of military force, political manipulation, and suppression of dissent. Under the Rana regime, there was little to no political freedom or democratic participation, and civil liberties were severely restricted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas implemented a strict caste-based social hierarchy, with themselves at the top, and the majority of the population subjected to various forms of discrimination and exploitation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1951, a popular uprising led to the downfall of the Rana regime. Then, Nepal held democratic elections in 1959 and Nepali Congress won the polls. With the holding of the polls, Nepal adopted a parliamentary system of governance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Unfortunately, the government led by NC’s BP Koirala did not last long then King Mahendra dissolved the parliament in 1960 citing corruption, political instability and Nepal being too close to India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Mahendra established a party-less system of governance, known as the Panchayat system. Under this system, power was centralized, and political parties were banned. Power was oncentrated in the hands of the King and his appointed officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The King acted as the ultimate authority, and all decisions were made by him and his close advisors. There was little scope for democratic participation, and the people had limited say in the governance of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During the Panchayat period, Nepal saw some progress in economic development, education, and infrastructure. However, there was also widespread corruption, political repression, and human rights abuses. Political dissent was not tolerated, and opposition leaders, activists, and journalists were often arrested and tortured.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During 1990s, the wave of democracy was sweeping across the world and Nepal was not left untouched by the spillover of the democratic wave. Two political parties- Nepali Congress and Leftist parties campaigned for the restoration of democracy in in hush-hush manner in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Panchayat system came to an end in 1990, following a pro-democracy movement led by political parties, intellectuals, and students. The movement culminated in a peaceful revolution, which forced King Birendra to accept a new democratic constitution that established a multi-party system of governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1990, late King Birendra agreed to hold elections and establish a constitutional monarchy with a parliamentary system of governance. The Nepali Congress Party won the democratic elections in 1991, and a new constitution was adopted in 1991, marking the beginning of Nepal's second experiment with democratic form of the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The democratic experiment of the 1990s was marked by political instability, corruption, and ethnic tensions. People’s hopes for development and good governance were dashed away. The Nepali Congress Party was plagued by infighting and corruption allegations, leading to a loss of public confidence. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Meanwhile, ethnic and regional tensions simmered beneath the surface, with marginalized communities demanding greater political representation and autonomy. Failure of Nepali Congress to guide the country to the path of development, prosperity and good governance caused the frequent changes of the governments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In October 2002, King Gyanendra dissolved the Parliament and he appointed a series of prime ministers. In February 2005 he dismissed the Prime Minister and cabinet and assumed direct power through a coup. Initially, public had given king a benefit of doubt, fed up with parties and successive governments’ failure to deliver services to them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As time passed by, king started showing his true colour by appointing corrupt former royalists and bootlickers to the Cabinet. Human rights violations, censorship on press freedom and corruption made people believe that king was no longer a fitful person to address people’s problems and burning then problem of Maoist insurgency. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Even supporters of the king quickly turned into fierce critics because of his authoritarian grip over the government and restrictions placed on people’s lives. As a result, the royal coup was met with widespread protests and civil disobedience calling for democracy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royal coup was followed by a decade-long Maoist insurgency, which began in 1996 and ended in 2006. The Maoists, led by Pushpa Kamal Dahal Prachanda, inspired by China’s Mao Zedong and his philosophy, had waged the insurgency for the establishment of a republic and the overthrow of the monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The insurgency was marked by violence, human rights abuses, and political instability, with the Maoists carrying out attacks on government installations, civilians, and security forces. The insurgency lasted for a decade and claimed the lives of over 16,000 people, until a peace agreement was reached in 2006.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The post-peace agreement was marked by significant political changes. The 240-year-old monarchy was officially abolished in Nepal on May 28, 2008, when the Constituent Assembly declared Nepal a Federal Democratic Republic. Nepal adopted a new constitution in 2015. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These changes aimed to address the country's longstanding political and social issues, including the marginalization of ethnic and religious minorities, the centralization of power, and the lack of economic opportunities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The adoption of the new constitution in 2015 recognized the rights of marginalized communities and established Nepal as a secular, federal democratic republic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Nepal's political experimentation has not only been limited to the establishment of new political systems and the adoption of new constitutions. The country has also undergone ideological shifts, with various political parties and groups espousing different ideologies, including communism, democracy, and monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Maoist) emerged as a major political force in the country during the insurgency, advocating for a communist state. However, following the peace agreement, the party entered mainstream politics and has since moderated its stance, forming alliances with other political parties. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Nepali Congress Party, founded in 1947, has been a prominent force in Nepali politics, advocating for democracy and liberal values. The party played a key role in the restoration of democracy in 1990 and has formed multiple governments since then.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Unified Marxist-Leninist) is another prominent political party in Nepal, advocating for socialism and secularism. The party has formed multiple governments since the establishment of the federal democratic republic in 2008 and has played a key role in the drafting and adoption of the new constitution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">After parliamentary polls of 2022 and by-polls of 2023, the Rastriya Swotantra Party has emerged as a potent political force, gaining the support of voters who have grown disillusioned with the corruption, irregularities, and lack of good governance that have plagued the traditional major parties, namely Nepali Congress, CPN-UML, and CPN-Maoist Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Comprised mainly of youthful members from various sectors and parties, the new party won 21 seats in the House of Representatives, and many predict that it will emerge as the single largest party in the next general elections in five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite the party's popularity, it has not clearly articulated its political agenda. The Rastriya Swotantra Party has yet to state its stance on crucial issues such as the federal set-up, the country's economic model, secularism, and the democratic republic. This lack of clarity has left many people skeptical about the party's future path if it does win the polls after five years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Moreover, the Rastriya Prajatantra Party, a party of former royals, has also made significant gains from the 2022 polls. The party's political agenda is clear: they aim to restore the monarchy and make former king Gyanendra the ceremonial head of the state. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royalist party has been organizing civil felicitations for former king Gyanendra Shah in various parts of the country and a section of people are hell-bent on reviving the role of overthrown monarchy in one or another way. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These recent developments and widespread corruption, economic downturn, and inadequate service delivery by the government, coupled with financial anomalies and a lack of employment opportunities, have caused growing anger and frustration among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These factors have raised concerns that Nepal may be heading towards another period of political instability, resulting in the experimentation of another political structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It is therefore crucial that Nepali politicians and citizens remain vigilant to keep democratic political model intact to avoid testing of another political ideology and government system. </span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17564', 'image' => '20230511014522_collage (15) (1).jpg', 'article_date' => '2023-05-11 13:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
