May 2: A record number of climbers are attempting to scale the highest mountain in the world – Mt Everest – during this spring…
May 2: A record number of climbers are attempting to scale the highest mountain in the world – Mt Everest – during this spring…
The Confederation of Banks and Financial Institutions (CBFIN) has decided that it will take legal action against any individual, organization, or group involved in activities that harm the credit and reputation of banks and financial…
The Securities Board of Nepal (SEBON) has decided that it will grant Letters of Intent (LoI) to sixteen companies for new stock brokerage licenses. The decision was taken by the Board of Directors of the SEBON during a meeting held on Monday…
May 1: There are currently more than 50 ice cream industries in…
May 1: Operators of cooperatives have asked for financial assistance from the government in the form of concessional loans of Rs 10 billion as they are under mounting pressure due to lack of…
May 1: The discrepancy between the government’s income and expenditure is on a continuous rise.…
May 1: The Securities Board of Nepal (SEBON) has decided to form an evaluation committee to make the license distribution process of the new stock exchange more…
May 1: The government made budget transfer of Rs 33.5 billion including transfer of funds, reallocation of resources and additional disbursements in the Nepali month of Chaitra (mid-March to mid-April) of the current fiscal…
May 1: Many villages in Mugu district are without electricity for years, affecting the local people in many…
May 1: Police have arrested a person suspected of killing Nira Pandey Acharya in Saraswatinagar, Kapan about two weeks…
Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal…
Minister for Agriculture and Livestock Development, Dr Beduram Bhusal, has said that 1.3 million hectares of cultivable land in Nepal has been left…
April 30: Nepal Rastra Bank (NRB) has increased the ceiling for the exchange of the US…
The Nepal Stock Exchange (NEPSE) Index continued its downward trend for the third consecutive trading day on…
Adverse weather conditions have disrupted flights to and from the Tribhuvan International Airport (TIA). Tribhuvan International Office (TIA) said that both domestic and international flights were affected owing to low visibility, caused by rains and…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 2: A record number of climbers are attempting to scale the highest mountain in the world – Mt Everest – during this spring season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, a total of 466 climbers from 43 groups have obtained permits to climb Everest. Among them 98 are female and remaining 368 are male, said the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climbers eyeing to scale Everest this season are from 65 different countries including Nepal as per the records of the department. From Nepal, 15 climbers have received permits this season. Similarly, 96 climbers from China have been granted permits followed by 89 from the USA and 40 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 33 from Hungary have acquired climbing permits, 21 from Canada, 18 from Russia and 15 from the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former President of Nepal Mountaineering Association, Ang Tshering Sherpa, opined that the number of climbers obtaining permit from Nepal might have increased considerably as climbing from the Tibet side (northeast ridge route) is not permitted since the outbreak of the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has been 70 years since human first set their feet on top of Mt Everest. Tenzing Norgay Sherpa and Edmund Hillary had successfully reached atop the Everest on May 29, 1953. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since then, around 7,000 national and international climbers have successfully climbed the 8,848.86 metres mountain till date while over 300 have lost their lives attempting to climb the world’s highest peak, according to the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, 323 climbers from 44 groups had obtained permission for Everest expedition, informed Bigyan Koirala, officer at the Mountaineering Section of the department. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-02', 'modified' => '2023-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '17464', 'image' => '20230502104644_20220516042550_expedition-in-nepal.jpg', 'article_date' => '2023-05-02 10:43:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17729', 'article_category_id' => '1', 'title' => 'CBFIN Decides to File Case Against Anti-Banking Activities', 'sub_title' => '', 'summary' => 'The Confederation of Banks and Financial Institutions (CBFIN) has decided that it will take legal action against any individual, organization, or group involved in activities that harm the credit and reputation of banks and financial institutions.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 2: The Confederation of Banks and Financial Institutions (CBFIN) has decided that it will take legal action against any individual, organization, or group involved in activities that harm the credit and reputation of banks and financial institutions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a recent working committee meeting held on April 27th. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CBFIN has expressed concern over illegal activities that have been carried out against banks and financial institutions by damaging their assets, credits, and reputation and terrifying employees over a period of time. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a result, the confederation has decided to take strict legal measures against such actions and register case against them to the appropriate authorities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The press release issued by CBFIN stated that legal action would be taken against individuals, groups, or organizations that damage the reputation, dignity, credibility, or property of the banks and financial institutions and obstruct banking business.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, CBFIN has urged individuals and organizations to avoid engaging in activities prohibited by existing laws, such as creating confusion about banks and financial institutions, and discouraging payment of interest on loans taken from banks.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The press release emphasizes that all banks are united and committed to using the powers conferred by the law to protect the rights and interests of financial institutions' depositors, borrowers, and stakeholders as a whole. </span></span></p> ', 'published' => true, 'created' => '2023-05-02', 'modified' => '2023-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '17463', 'image' => '20230502060128_collage.jpg', 'article_date' => '2023-05-02 05:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17728', 'article_category_id' => '1', 'title' => 'SEBON Grants Letter of Intent to 16 Companies for New Brokerage Licenses', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal (SEBON) has decided that it will grant Letters of Intent (LoI) to sixteen companies for new stock brokerage licenses. The decision was taken by the Board of Directors of the SEBON during a meeting held on Monday morning.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 1: The Securities Board of Nepal (SEBON) has decided that it will grant Letters of Intent (LoI) to sixteen companies for new stock brokerage licenses. The decision was taken by the Board of Directors of the SEBON during a meeting held on Monday morning.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Nabil Securities Limited has been granted the letter of intent to work as a Stock Dealer, while Megha Stock Market Limited has been given the letter of intent to operate as a full-service securities broker in accordance with its application. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Additionally, fourteen other companies have been provided with the letter of intent to operate as limited securities brokers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The SEBON received a total of 46 applications for new broker licenses, including one from an existing broker company. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to Mukti Shrestha, the SEBON spokesperson, the process to grant licenses to the remaining companies will continue. Shrestha clarified that the SEBON is currently assessing the documents submitted by the other companies for new broker licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The companies that have received the letter of intent will be granted licenses after they fulfill the necessary procedures. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalaya Brokerage Company, CBIL Securities, KBL Securities, NMB Securities, RBB Securities, Sanima Securities, Index Securities, Sun Securities, Capital Max Securities, Bhole Ganesh Securities, Infinity Securities, Aakash Bhairab Securities, Elite Stock House, and SPSS Securities are the fourteen companies that have been granted the letter of intent to work as limited securities brokers.</span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17462', 'image' => '20230501044008_collage (4).jpg', 'article_date' => '2023-05-01 16:36:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17727', 'article_category_id' => '1', 'title' => 'Ice Cream Produced in Nepal Struggling to Compete with Foreign Brands', 'sub_title' => '', 'summary' => 'May 1: There are currently more than 50 ice cream industries in Nepal.', '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 1: There are currently more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ice cream industries in Nepal. The ice cream they produce is not inferior to foreign brands in any way. However, since the price of foreign products is cheap, the local Nepali products are struggling to find a market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Dozens of flavors of ice cream including vanilla, chocolate, butter scotch, and strawberry are available in the market. In Nepal, there is competition between domestic brands such as Nepal Dairy, DDC, Ajabko, Snowfun, Every Day as well as imported foreign brands of ice cream such as Baskin-Robbins, Vadilal, Amul and Cream Bell.</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"">Traders say that consumers prefer foreign brand ice creams to domestic brands. As a result, retail traders say that Nepali ice cream brands are losing customers as the consumers are looking for imported ice cream.</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 goods we sell are manufactured here. But the consumers go to supermarkets looking for foreign goods. Therefore, even though the demand for ice cream increases during the summer season, Nepali ice cream is not sold much," said a retailer.</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 data of the Department of Customs shows that the import of ice cream has increased in the last five years. In the Fiscal Year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">074/75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Nepal imported 412,866 kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">179</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million.</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"">In FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">075/76</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">598,913</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilograms of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">188</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported into Nepal. However, its import decreased in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">076/77. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the Covid-19 pandemic, the ice cream import decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">294</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</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""> kg worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">130</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million in that year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the import of ice cream increased again in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">077/78. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In that year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">341</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">744</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">145</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">078/79</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">268.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported into Nepal.</span></span></span></span></p> <p> </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"">Rajendra Adhikari, spokesperson for Nepal Dairy Development Corporation, says that they are not able to produce ice cream as per the demand due to lack of raw materials for making ice cream. He says that the lack of raw materials has created a situation where ready-made ice cream from outside has to be promoted in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“When there is not enough curd and milk, there is no situation to make ice cream. That is why the import has increased," he said. He claimed that the lack of milk in the domestic market has also cause problems in ice cream production.</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"">Arjun Adhikari, a member of the ice cream department of Nepal Dairy Association and owner of Amul Dairy and Beverage Pvt Ltd, complained that Nepali companies are not getting market due to foreign brands despite the increase in demand for ice cream in summer.</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 says that even though the demand in the market has increased, it is difficult for Nepali brands to compete because of foreign brands.</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 quality of our ice cream is not less than that of foreign countries. However, it is difficult to win the trust of customers because of foreign ice cream. In addition to that, it is difficult for us to compete on price due to the high customs duty on raw materials,” said an office bearer of the association.</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 official, the ice cream trade only lasts from January to August. For the remaining four months, the industry will have to be shut down during the winter season.</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"">'Government needs to bring industry friendly policy'</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"">While the customs duty on readymade ice cream imported from other countries is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, the customs duty on raw materials is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. </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"">“In such a situation, how can domestic companies compete on price?” questioned Prahlad Dahal, president of Nepal Dairy Association.</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"">“In order to save indigenous producers and make the country self-sufficient in ice cream, the government needs to bring an industry-friendly policy,” he added.</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 President Dahal, there are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> small and large ice cream industries in Nepal. These industries produce more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> liters of ice cream on an average day. However, he says that it is difficult for these industries to find the market due to lack of industry-friendly policy of the government.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '17461', 'image' => '20230501020533_ice.jpg', 'article_date' => '2023-05-01 14:04:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17726', 'article_category_id' => '1', 'title' => 'Cooperatives Seek Rs 10 Billion in Concessional Loan from Government', 'sub_title' => '', 'summary' => 'May 1: Operators of cooperatives have asked for financial assistance from the government in the form of concessional loans of Rs 10 billion as they are under mounting pressure due to lack of liquidity.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">May 1: Operators of cooperatives have asked for financial assistance from the government in the form of concessional loans of Rs 10 billion as they are under mounting pressure due to lack of liquidity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">As the return on savings is more than the deposit collection and loan recovery, some cooperatives have reached a situation where they are unable to return even the savings of their members. Stating that this has had a negative impact on the entire cooperative campaign, the National Cooperative Federation, the umbrella body of cooperatives, has requested loan assistance from the government at a concessional interest rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The federation held a press conference and presented a 13-point demand to the government to solve the problems of the cooperatives sector. In the demand letter, the federation has urged for a concessional loan of Rs 10 billion to bail out the cooperatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The federation has demanded that the Ministry of Home Affairs should immediately issue circulars to all 77 district administration offices to allow the cooperatives to operate smoothly, make arrangements to freeze the property of debtors, give time until mid-July for tax payment, announce a package of cooperative integration, remove the limit of individual savings of Rs 2.5 million, cancel the reference interest rate and arrange automatic interest rate, announce a cooling period of two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">They also demanded that credit information center, debt recovery tribunal, as well as savings and credit protection fund should be established immediately and a second level regulatory body should be formed. Other demands include registration of cooperatives, expansion of scope of work, and end to discrepancies of service centers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Om Devi Malla, senior vice president of the federation and coordinator of the Problem Solving Coordination Committee said that the demand letter has be submitted to the Ministry of Cooperatives, all districts and provinces by April 30 and if the government fails to fulfill their demands, they will go on strike from May 1.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Although the problem of liquidity in banks and financial institutions has been almost resolved, the problems faced by the cooperatives have been increasing. The crisis faced by a handful of cooperatives is having a ripple effect on the entire cooperative sector as people have stated to doubt the cooperatives which in turn might be detrimental to the future of the cooperative sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The government officials are saying that the problem of liquidity has arisen because the cooperatives have indiscriminately invested in unproductive sectors including real estate. The monitoring and reporting of cooperatives has not been possible because the cooperatives now fall under the jurisdiction of the provincial and local levels.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Due to this, even the government does not have actual information about the condition of cooperatives. The Department of Cooperatives of the federal government has proposed to form a study task force to solve the problem. It is said that the proposal of the department has been forwarded to the ministry where it is gathering dust.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17460', 'image' => '20230501020439_cooperative-new.jpg', 'article_date' => '2023-05-01 14:04:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17725', 'article_category_id' => '1', 'title' => 'Resource Management becoming more Challenging for the Government', 'sub_title' => '', 'summary' => 'May 1: The discrepancy between the government’s income and expenditure is on a continuous rise. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 1: The discrepancy between the government’s income and expenditure is on a continuous rise. In ten and a half months of the current fiscal year (FY 2022/23), the gap between the government's income and expenditure has deepened due to the failure in revenue collection as per the target.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Finance, the budget deficit has now reached Rs 300 billion. By mid-April this year, the government met only 50 percent of the annual target of Rs 708 billion. During the same period, the government’s expenditure reached Rs 991 billion, which is 55.27 percent of the target. This makes the budget deficit of the government stand at Rs 283 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the corresponding period of last fiscal year, the total budget deficit of the government was only Rs 53 billion. At that time, the government’s revenue collection was 70 percent of the target while the expenditure was about 54 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat directed the agencies concerned to try to raise the maximum revenue, saying that the target of revenue set for the current year will not be met.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A senior official of the Ministry of Finance said that the officials of the Inland Revenue Department and the Department of Customs have been instructed to mobilize their mechanisms to collect revenue equivalent to that of last year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“There is no situation to raise revenue according to the current year's target, the finance minister has also assessed this situation and asked to raise revenue equivalent to that of last year's,” said the official requesting anonymity. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Due to the pressure on resources management, the government has stopped grants going to the state and local levels. The Ministry of Finance, in a letter to the Financial Comptroller General Office, instructed to halt the equalization grants of Rs 23.13 billion going to the state and local governments. A meeting of the Council of Ministers on April 25 decided to send only 50 percent of the equalization grant to be released in the final installment. According to the cabinet decision, the state governments will get Rs 9.93 billion and the local level will get only Rs 13.20 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Officials of the Ministry of Finance say that although the distribution of salaries and pensions and social security allowances of the employees has not stopped so far, the situation is likely to become challenging in the future due to the pressure on the resources.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last month, due to lack of resources, about 20,000 teachers were not paid their salaries. The finance ministry has been requested to release the budget and the teachers are likely to be paid this month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A few days ago, former Chief Secretary Bimal Koirala had suggested the government on social media to cut expenses. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17459', 'image' => '20230501011628_Budget.jpg', 'article_date' => '2023-05-01 13:15:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17724', 'article_category_id' => '1', 'title' => 'Evaluation Committee Formed to Facilitate Distribution of Stock Exchange License', 'sub_title' => '', 'summary' => 'May 1: The Securities Board of Nepal (SEBON) has decided to form an evaluation committee to make the license distribution process of the new stock exchange more reliable.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 1: The Securities Board of Nepal (SEBON) has decided to form an evaluation committee to make the license distribution process of the new stock exchange more reliable.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A meeting of the board of directors of SEBON held on Sunday morning decided to form the evaluation committee chaired by Phanindra Gautam, joint secretary of the Ministry of Law, Justice and Parliamentary Affairs. Gautam is a member of the board of directors of SEBON representing the ministry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the information shared by SEBON, Ritesh Kumar Shakya and Mukunda Kumar Kshettri are the members of the evaluation committee. Shakya is a member of the Board of Directors of SEBON representing the Ministry of Finance and Kshettri is from Nepal Rastra Bank. SEBON’s Executive Director Muktinath Shrestha and Assistant Executive Director Ambika Giri have been appointed as members of the evaluation committee on behalf of the board.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board had asked for applications from April 13 to April 23 to issue a license to a new stock exchange to the private sector. During the specified period, Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange submitted applications. The board will issue license to only one out of the three companies, which according to SEBON officials is a challenging task. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">SEBON Chairman Ramesh Kumar Hamal said that a license will be given to a company that completes the due processes as per the rules. Although the situation of choosing one company out of three is challenging, Hamal believes that it will be somewhat easier as the license distribution process will proceed based on the report of the evaluation committee.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Hamal, the evaluation committee will study the detailed business plans of the applications received for the license of the new stock exchange. After evaluating the detailed action plan submitted by the three companies, the evaluation committee will determine the order of merit of the applicants and submit it to the Board of Directors. Hamal has made it clear that license will be given to a company that gets the highest marks based on the order of merit.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17458', 'image' => '20230501122226_Sebon-update.jpg', 'article_date' => '2023-05-01 12:21:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17723', 'article_category_id' => '1', 'title' => 'Government Transfers Budget worth Rs 33.3 Billion in a Month', 'sub_title' => '', 'summary' => 'May 1: The government made budget transfer of Rs 33.5 billion including transfer of funds, reallocation of resources and additional disbursements in the Nepali month of Chaitra (mid-March to mid-April) of the current fiscal year.', '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 1: The government made budget transfer of Rs 33.5 billion including transfer of funds, reallocation of resources and additional disbursements in the Nepali month of Chaitra (mid-March to mid-April) of the current fiscal year.</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 details published by the Ministry of Finance shows that the government transferred budget worth Rs 33.35 billion from one sub-heading to another in the review period.</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"">During this period, the Ministry of Finance transferred an amount worth Rs 27 billion to pay internal debts. This amount has been disbursed under the miscellaneous heading. Similarly, the government has transferred an additional amount of Rs 2.8 million under the heading of miscellaneous account for the current expenses of the office of the Gandaki Province chief.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Rs 5 million has been disbursed as extra-time allowance for the employees of the Federal Parliament Secretariat, security personnel and personal secretariat of the parliament officials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has also released Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">3.3 million for the Public Service Commission, and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0 million to the Office of the Prime Minister and Council of Ministers.</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 Ministry of Finance, multi-year contracts were approved for two projects and programs in the review month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has agreed to ensure funds worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">405</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million under the Ministry of Forest and Environment, and Rs 76.2 for the Samakhusi-Tokha-Gujre road project under the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Rs 19 million earmarked by the Ministry of Energy, Water Resources and Irrigation for Budhi Gandaki Hydropower Project has been transferred for river control projects. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, budget of Rs 36.4 million allocated for Palungtar-Kundutar Irrigation Project and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9 million for Irrigation Rehabilitation Project have been transferred for river control projects.</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 Ministry of Physical Infrastructure and Transport has reduced the budget allocated for the North-South Highway Project by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million and transferred the amount to the Kathmandu Valley Road Expansion Project. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17457', 'image' => '20230501115013_finance_ministry_copy1.jpg', 'article_date' => '2023-05-01 11:49:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17722', 'article_category_id' => '1', 'title' => 'Mugu Villagers Living in Darkness for Years ', 'sub_title' => '', 'summary' => 'May 1: Many villages in Mugu district are without electricity for years, affecting the local people in many ways.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Many villages in Mugu district are without electricity for years, affecting the local people in many ways. Lack of power supply means the villagers have to depend on traditional sources of light like 'diyalo' (pine tree wood with resin that produces light when lit), and kerosene lamp. Using traditional means of light has had many health problems for them. </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"">Kumma Lal Budha of Sobhagun of Chhayanath Rara Municipality-12 and his family are relying on diyalo for years. Budha, now 69, is suffering from asthma and eye problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I am suffering from asthma and eye problems as a result of depending on diyalo for years. We are dependent on diyalo since the time of our forefathers,” he said. He has been suffering from asthma for around 25 years as a result of smoke inhalation from diyalo, he claimed. He also has a cataract. Many villagers have been suffering from the disease as a result of using traditional means of lighting, he maintained. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Budha has now lost his hope that he would see electricity during his lifetime. “The village may not get electricity during my lifetime. Even now, we are dependent on diyalo,” he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Smoke emanating from diyalo has been a major factor for elderly people to develop asthma, said an official at Karmarong Rural Municipality. Around 75 percent of elderly people have contracted the disease due to smoke from diyalo, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of around 1,200 households in this rural municipality, 431 lack access to electric power, forcing them to be dependent on diyalo and kerosene lamp. Power generated from 60 kilowatts solar panels set up at Sorukot cannot be enough to illuminate all the villages, said a local Karna Jung Shahi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of budget has been a major concern to expand the Nerkhola Hydropower Project and illuminate all the villages, said Dharma Bahadur Shahi, chairperson of the Sorukot Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villagers of Chhayanath Rara Municipality need to visit Gamgadhi bazaar, a half an hour walk from the village, to get their electric gadgets charged, he said. They feel the pain as the Gamgadhi bazaar just across the village has been illuminated with electric power while they have to endure darkness, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Around 165 families of the village have been living in the dark without electricity, said the village authorities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of around 9,000 households in the entire district, approximately 5,000 have been relying on diyalo, according to the latest census. The remaining have got access to electric power and alternative energy. Of the total 2,546 households in Chhayanath Rara Municipality, 1600 have got access to electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villages including Shova, Rowa, Tallekh, Ghattalekh, Salim, Rayangchyakati, Lumsa, Balchaur, Kampha, Baam and Murma are without electric power. The government has yet to expand the national transmission line in the district. The villages that have been illuminated have got power generated from local hydropower projects and alternative energy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other hand, flooding and landslides have damaged many local hydropower projects, thus cutting off electric power to many villages. The flooding and landslides on 5 October, 2022 swept away 15 micro hydropower projects in Khatyad Rural Municipality, discontinuing electricity to the villagers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Without repair of the damaged projects, around 3,651 households in this rural municipality are forced to rely on kerosene lamp and diyalo, said vice chairperson of the rural municipality, Sarita Rokaya. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Natural disasters damaged 15 micro hydropower projects including Seri, Toli, Kharka, Kerai Chimadungri, Paikhu, Jamirkarkha, Panseri and Raskotibada,” she said. It requires at least Rs 100 million for repairing the hydropower projects. “The rural municipality alone cannot manage budget for the repair. The provincial and federal governments have not been concerned about the matter,” she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals have been affected in many ways without power, she said. School-going children have been affected without electricity, and the locals have been deprived of income generated from electric-run equipment, she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“We are unable to run small industries for lack of electricity,” said a local entrepreneur Lokraj Dahal. The rural municipality is considered to be a pocket area for agricultural products and fruits. Industry that makes concrete blocks, sewing and tailoring shops, bread industry, saw mill and crusher industry could be run in the villages, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Children have been deprived of computer classes without electric power, said a local school teacher, Kamal Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal government two years ago came up with a plan to install 400 kilowatts solar plant in Gamgadhi after the Gamgadh Micro Hydropower Project got obstructed from time to time due to various reasons, said the authorities. However, the project is yet to proceed ahead due to lack of budget, said Dharma Bahadur Shahi, chairperson of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, lawmakers from Karnali Province including Ain Bahadur Shahi have been putting pressure on the authorities concerned to connect Mugu with the national transmission line. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following this, executive director of the Nepal Electricity Authority Kulman Ghising on an occasion pledged to expand the line to the district within mid-July. He made this promise during his visit some seven months ago to Mugu and Humla district to carry out a feasibility study on expanding the transmission line. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17456', 'image' => '20230501101144_murma-surroundings.jpg', 'article_date' => '2023-05-01 10:10:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17721', 'article_category_id' => '1', 'title' => 'Police Arrest Suspect Behind the Murder of Nira Pandey', 'sub_title' => '', 'summary' => 'May 1: Police have arrested a person suspected of killing Nira Pandey Acharya in Saraswatinagar, Kapan about two weeks ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Police have arrested a person suspected of killing Nira Pandey Acharya in Saraswatinagar, Kapan about two weeks ago.</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"">According to the police, thirty-five-year-old Pandey, who ran a kitchen supply store at Sarswatinagar of Kapan, was stabbed to death on April 20 by Binod BK, a local resident of Mechi Municipality-10 in Jhapa district and currently residing at Lokanthali of Bhaktapur Municipality-1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eleven days after the murder, the police on Sunday made public the alleged murderer amid mounting pressure to resolve the case of broad daylight murder.</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"">Police investigations have revealed that BK murdered Pandey with a motive of robbery.</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 Central Investigation Bureau (CIB) of Nepal Police however said that further investigation is underway and they are trying to find out if there were any other motives besides robbery.</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"">Organising a press conference at the CIB office in Maharajgunj on Sunday, the police said they arrested BK from Jhapa on Saturday.</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"">Senior Superintendent of Police (SSP) Dinesh Acharya of CIB shared that BK has already confessed to the crime. The police added that BK stabbed Pandey multiple times with a kitchen knife when she tried to resist him during the robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, BK used to work in a casino and later as a bouncer. After he got into debt and was rendered cash-strapped, he started robbery to make easy money.</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"">BK robbed a gold chain and cash from Pandey’s shop after the murder and was hiding in Bhaktapur for a week after the incident. He then left for Jhapa where he was arrested along with the clothes, shoes and bag used by the alleged murderer during the incident. </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"">During the investigation, police suffered an initial setback as the CCTV cameras in the vicinity were not functional. The police then studied the video footages of the surrounding areas to identify the culprit. Police investigation also ruled out domestic violence as the reason behind the murder.</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"">Pandey was found lying unconscious in a pool of blood in her shop hours after the incident on April 20. The incident occurred in the afternoon when very few customers visit shops.</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"">Severely injured by the stabbing, Nira was rushed to the TU Teaching Hospital, Maharjgunj, where she was declared dead by the doctors. </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"">Pandey, who is originally from Baglung, was living in a rented flat with her husband nearby. Her husband had an electronics shop in the ground floor of the house where the couple stayed. Their rented room and electronic shop were just a few minutes’ walk away from her shop. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17455', 'image' => '20230501093916_nepal police.jpg', 'article_date' => '2023-05-01 09:38:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17720', 'article_category_id' => '268', 'title' => 'Cost of Import of Food Items Via Birgunj Customs Office Doubles ', 'sub_title' => '', 'summary' => 'Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 1: Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in the cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Information officer Ramchandra Dhakal, Nepal has imported food items worth NPR 28.91 billion during this period, whereas only NPR 12.18 billion was spent on the import of food items during same period in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, the import of paddy has taken the lead. Traders have increased the import of paddy after India fixed a quota of 6 lakh tons. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As most of the rice mills in Nepal rely on imported paddy from India, Nepal imported 2,88,000 tons of paddy in nine months through the Birgunj customs point. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This amount has risen significantly from 1,93,000 tons of paddy imported during the same period in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the import of other food items, except paddy, has decreased. Import of rice has fallen to 30,000 tons worth NPR 2.35 billion compared to the previous fiscal year's import of 37,000 tons worth NPR 2.37 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the import of maize has decreased by 20 percent to 62,658 tons worth NPR 10.61 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The imposition of a quota system by India on wheat export has resulted in an 83 percent decline in wheat import, which has adversely affected the production of domestic industries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Only 3,472 tons of wheat were imported via the Birgunj customs office during the first nine months of the current fiscal year compared to 20,422 tons during the same period last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Import of other food items such as millet has also decreased.</span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17454', 'image' => '20230501072052_collage (6).jpg', 'article_date' => '2023-05-01 07:18:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17719', 'article_category_id' => '1', 'title' => '1.3 Million Hectares of Arable Land Left Barren, Says Agriculture Minister', 'sub_title' => '', 'summary' => 'Minister for Agriculture and Livestock Development, Dr Beduram Bhusal, has said that 1.3 million hectares of cultivable land in Nepal has been left barren.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">May 1: Minister for Agriculture and Livestock Development, Dr Beduram Bhusal, has said that 1.3 million hectares of cultivable land in Nepal has been left barren. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaking at an event commemorating the 73rd anniversary of the All Nepal Peasants' Federation in Kathmandu on Sunday, the Minister emphasized the importance of utilizing this land to increase agricultural production.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Furthermore, Minster Bhusal announced that the forthcoming annual budget and policies would provide incentives to farmers, acknowledging that the agriculture sector has been neglected due to several issues. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Bhusal revealed that the current budget allocation of Rs 51 billion for the Agriculture Ministry has been mostly allocated towards buying chemical fertilizers, with only a small portion allotted to local and provincial levels and government employees. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">As a result, the Minister emphasized the need for additional funding to assist farmers and boost the agriculture sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">In addition, Minister Bhusal underscored the importance of providing timely access to chemical fertilizers, seeds, irrigation, tools, and infrastructure to maximize agricultural benefits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister expressed the government's commitment to ensuring food sovereignty and shared that regulations were being drafted to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">At the same event, Bhairav Regmi, leader of the peasant movement, expressed hope that the government would address the 62-point demand they submitted to safeguard peasants' rights. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Balram Banskota, Chairman of the All Nepal Peasants' Federation, highlighted that the development of agriculture is a prerequisite to the country's progress.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17453', 'image' => '20230501061137_collage (4).jpg', 'article_date' => '2023-05-01 06:06:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17718', 'article_category_id' => '1', 'title' => 'NRB Revises Ceiling for Exchange of US Dollar', 'sub_title' => '', 'summary' => 'April 30: Nepal Rastra Bank (NRB) has increased the ceiling for the exchange of the US dollar.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">April 30: Nepal Rastra Bank (NRB) has increased the ceiling for the exchange of the US dollar. Revising the Integrated Circular, 2079 BS issued for the bank and financial institutions on Friday, the central bank increased the ceiling for the exchange of the US dollar. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Prior to this, NRB-licensed money changers were allowed to make an exchange of USD 500 with a Nepali citizen. Now such a ceiling has been raised up to US$ 5,000. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">However, the revised provision will not be applicable for the amount received as gifts and tips from foreign friends and clients. The revised provision is to facilitate the currency exchange for Nepali students going for abroad studies meeting all the required procedures. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, the provision related to the convertible foreign currency which the foreigners working in Nepal can take home has also been amended. A new provision has been added for foreign citizens working in airlines companies providing service in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the new provision, foreign citizens working in airline companies in Nepal can convert a maximum of 70 percent of their salary, after paying taxes, into foreign currency and send the money to their respective country provided that they have taken labour permits and the term of service is still active. In case of Indian citizens, they can convert their salary into Indian currency. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17452', 'image' => '20230430063918_dollar.jpg', 'article_date' => '2023-04-30 18:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17717', 'article_category_id' => '1', 'title' => 'NEPSE’s Fall Continues; All Sectors Land in Red ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continued its downward trend for the third consecutive trading day on Sunday. ', 'content' => '<p><span style="font-size:20px">April 30: The Nepal Stock Exchange (NEPSE) Index continued its downward trend for the third consecutive trading day on Sunday. </span></p> <p><span style="font-size:20px">The NEPSE Index dropped by 19.11 points or 1.1% and settled at 1870.65 points on the first trading day of the week. The Index lost a total of 35 points in three trading days.</span></p> <p><span style="font-size:20px">Experts have attributed the persistent downturn in the stock market to the ongoing financial crisis faced by the country. Investors have expressed concerns and called for policy-level changes to boost their confidence and investment capacity.</span></p> <p><span style="font-size:20px"> A veteran investor noted that the lack of liquidity in the market has further dampened investors' confidence.</span></p> <p><span style="font-size:20px">During the trading day, a total of 271 scrips exchanged hands via 26,801 transactions, resulting in a turnover of Rs. 95.43 crores, which is higher than the previous trading day's turnover of Rs. 73.96 crores. </span></p> <p><span style="font-size:20px">Shivam Cements Limited (SHIVAM) had the highest turnover of Rs. 4.25 crores, closing at a market price of Rs. 405 per share. The shares of NIMB were the most traded.</span></p> <p><span style="font-size:20px">NMB Sulav Investment Fund - 2 (NSIF2) gained the highest 3.33% for the day, while NIBL Growth Fund (NIBLGF) lost the highest 8.89%.</span></p> <p><span style="font-size:20px">All traded 13 sector indices landed in the red zone, with hydropower experiencing the highest decline of 1.87%, while investment lost the least at 0.53%.</span></p> <p><span style="font-size:20px">Moreover, the Sensitive Index lost 0.82%, while the Float Index and Sensitive Float Index both lost 1.1% and 0.95%, respectively. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17451', 'image' => '20230430053618_collage (3).jpg', 'article_date' => '2023-04-30 17:34:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17716', 'article_category_id' => '1', 'title' => 'Adverse Weather Affects Flights at TIA', 'sub_title' => '', 'summary' => 'Adverse weather conditions have disrupted flights to and from the Tribhuvan International Airport (TIA). Tribhuvan International Office (TIA) said that both domestic and international flights were affected owing to low visibility, caused by rains and wind.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Adverse weather conditions have disrupted flights to and from the Tribhuvan International Airport (TIA). </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Tribhuvan International Office (TIA) said that both domestic and international flights were affected owing to low visibility, caused by rains and wind.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Some international flights were put on hold in the sky due to low visibility and bad weather, according to TIA general manager Pratap Babu Tiwari. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">As a result of bad weather, a Colombo-Kathmandu aircraft of the Sri Lankan Airlines was on hold in the Kathmandu sky for half an hour, and that of Batik Air was on hold in the Simara Sky, Tiwari said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Domestic flights have reported delays in taking off due to bad weather conditions, said the TIA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Rainfall is taking place in most parts of the country with the impact of the Westerly wind and local wind, according to the Meteorological Forecasting Division. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The rain had also affected flights on Saturday afternoon. </span></span></p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17450', 'image' => '20230430041400_collage (2).jpg', 'article_date' => '2023-04-30 16:12:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, '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
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 2: A record number of climbers are attempting to scale the highest mountain in the world – Mt Everest – during this spring season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, a total of 466 climbers from 43 groups have obtained permits to climb Everest. Among them 98 are female and remaining 368 are male, said the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climbers eyeing to scale Everest this season are from 65 different countries including Nepal as per the records of the department. From Nepal, 15 climbers have received permits this season. Similarly, 96 climbers from China have been granted permits followed by 89 from the USA and 40 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 33 from Hungary have acquired climbing permits, 21 from Canada, 18 from Russia and 15 from the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former President of Nepal Mountaineering Association, Ang Tshering Sherpa, opined that the number of climbers obtaining permit from Nepal might have increased considerably as climbing from the Tibet side (northeast ridge route) is not permitted since the outbreak of the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has been 70 years since human first set their feet on top of Mt Everest. Tenzing Norgay Sherpa and Edmund Hillary had successfully reached atop the Everest on May 29, 1953. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since then, around 7,000 national and international climbers have successfully climbed the 8,848.86 metres mountain till date while over 300 have lost their lives attempting to climb the world’s highest peak, according to the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, 323 climbers from 44 groups had obtained permission for Everest expedition, informed Bigyan Koirala, officer at the Mountaineering Section of the department. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-02', 'modified' => '2023-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '17464', 'image' => '20230502104644_20220516042550_expedition-in-nepal.jpg', 'article_date' => '2023-05-02 10:43:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17729', 'article_category_id' => '1', 'title' => 'CBFIN Decides to File Case Against Anti-Banking Activities', 'sub_title' => '', 'summary' => 'The Confederation of Banks and Financial Institutions (CBFIN) has decided that it will take legal action against any individual, organization, or group involved in activities that harm the credit and reputation of banks and financial institutions.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 2: The Confederation of Banks and Financial Institutions (CBFIN) has decided that it will take legal action against any individual, organization, or group involved in activities that harm the credit and reputation of banks and financial institutions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a recent working committee meeting held on April 27th. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CBFIN has expressed concern over illegal activities that have been carried out against banks and financial institutions by damaging their assets, credits, and reputation and terrifying employees over a period of time. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a result, the confederation has decided to take strict legal measures against such actions and register case against them to the appropriate authorities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The press release issued by CBFIN stated that legal action would be taken against individuals, groups, or organizations that damage the reputation, dignity, credibility, or property of the banks and financial institutions and obstruct banking business.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, CBFIN has urged individuals and organizations to avoid engaging in activities prohibited by existing laws, such as creating confusion about banks and financial institutions, and discouraging payment of interest on loans taken from banks.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The press release emphasizes that all banks are united and committed to using the powers conferred by the law to protect the rights and interests of financial institutions' depositors, borrowers, and stakeholders as a whole. </span></span></p> ', 'published' => true, 'created' => '2023-05-02', 'modified' => '2023-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '17463', 'image' => '20230502060128_collage.jpg', 'article_date' => '2023-05-02 05:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17728', 'article_category_id' => '1', 'title' => 'SEBON Grants Letter of Intent to 16 Companies for New Brokerage Licenses', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal (SEBON) has decided that it will grant Letters of Intent (LoI) to sixteen companies for new stock brokerage licenses. The decision was taken by the Board of Directors of the SEBON during a meeting held on Monday morning.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 1: The Securities Board of Nepal (SEBON) has decided that it will grant Letters of Intent (LoI) to sixteen companies for new stock brokerage licenses. The decision was taken by the Board of Directors of the SEBON during a meeting held on Monday morning.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Nabil Securities Limited has been granted the letter of intent to work as a Stock Dealer, while Megha Stock Market Limited has been given the letter of intent to operate as a full-service securities broker in accordance with its application. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Additionally, fourteen other companies have been provided with the letter of intent to operate as limited securities brokers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The SEBON received a total of 46 applications for new broker licenses, including one from an existing broker company. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to Mukti Shrestha, the SEBON spokesperson, the process to grant licenses to the remaining companies will continue. Shrestha clarified that the SEBON is currently assessing the documents submitted by the other companies for new broker licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The companies that have received the letter of intent will be granted licenses after they fulfill the necessary procedures. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalaya Brokerage Company, CBIL Securities, KBL Securities, NMB Securities, RBB Securities, Sanima Securities, Index Securities, Sun Securities, Capital Max Securities, Bhole Ganesh Securities, Infinity Securities, Aakash Bhairab Securities, Elite Stock House, and SPSS Securities are the fourteen companies that have been granted the letter of intent to work as limited securities brokers.</span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17462', 'image' => '20230501044008_collage (4).jpg', 'article_date' => '2023-05-01 16:36:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17727', 'article_category_id' => '1', 'title' => 'Ice Cream Produced in Nepal Struggling to Compete with Foreign Brands', 'sub_title' => '', 'summary' => 'May 1: There are currently more than 50 ice cream industries in Nepal.', '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 1: There are currently more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ice cream industries in Nepal. The ice cream they produce is not inferior to foreign brands in any way. However, since the price of foreign products is cheap, the local Nepali products are struggling to find a market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Dozens of flavors of ice cream including vanilla, chocolate, butter scotch, and strawberry are available in the market. In Nepal, there is competition between domestic brands such as Nepal Dairy, DDC, Ajabko, Snowfun, Every Day as well as imported foreign brands of ice cream such as Baskin-Robbins, Vadilal, Amul and Cream Bell.</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"">Traders say that consumers prefer foreign brand ice creams to domestic brands. As a result, retail traders say that Nepali ice cream brands are losing customers as the consumers are looking for imported ice cream.</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 goods we sell are manufactured here. But the consumers go to supermarkets looking for foreign goods. Therefore, even though the demand for ice cream increases during the summer season, Nepali ice cream is not sold much," said a retailer.</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 data of the Department of Customs shows that the import of ice cream has increased in the last five years. In the Fiscal Year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">074/75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Nepal imported 412,866 kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">179</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million.</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"">In FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">075/76</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">598,913</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilograms of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">188</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported into Nepal. However, its import decreased in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">076/77. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the Covid-19 pandemic, the ice cream import decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">294</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</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""> kg worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">130</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million in that year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the import of ice cream increased again in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">077/78. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In that year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">341</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">744</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">145</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">078/79</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">268.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported into Nepal.</span></span></span></span></p> <p> </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"">Rajendra Adhikari, spokesperson for Nepal Dairy Development Corporation, says that they are not able to produce ice cream as per the demand due to lack of raw materials for making ice cream. He says that the lack of raw materials has created a situation where ready-made ice cream from outside has to be promoted in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“When there is not enough curd and milk, there is no situation to make ice cream. That is why the import has increased," he said. He claimed that the lack of milk in the domestic market has also cause problems in ice cream production.</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"">Arjun Adhikari, a member of the ice cream department of Nepal Dairy Association and owner of Amul Dairy and Beverage Pvt Ltd, complained that Nepali companies are not getting market due to foreign brands despite the increase in demand for ice cream in summer.</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 says that even though the demand in the market has increased, it is difficult for Nepali brands to compete because of foreign brands.</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 quality of our ice cream is not less than that of foreign countries. However, it is difficult to win the trust of customers because of foreign ice cream. In addition to that, it is difficult for us to compete on price due to the high customs duty on raw materials,” said an office bearer of the association.</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 official, the ice cream trade only lasts from January to August. For the remaining four months, the industry will have to be shut down during the winter season.</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"">'Government needs to bring industry friendly policy'</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"">While the customs duty on readymade ice cream imported from other countries is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, the customs duty on raw materials is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. </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"">“In such a situation, how can domestic companies compete on price?” questioned Prahlad Dahal, president of Nepal Dairy Association.</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"">“In order to save indigenous producers and make the country self-sufficient in ice cream, the government needs to bring an industry-friendly policy,” he added.</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 President Dahal, there are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> small and large ice cream industries in Nepal. These industries produce more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> liters of ice cream on an average day. However, he says that it is difficult for these industries to find the market due to lack of industry-friendly policy of the government.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '17461', 'image' => '20230501020533_ice.jpg', 'article_date' => '2023-05-01 14:04:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17726', 'article_category_id' => '1', 'title' => 'Cooperatives Seek Rs 10 Billion in Concessional Loan from Government', 'sub_title' => '', 'summary' => 'May 1: Operators of cooperatives have asked for financial assistance from the government in the form of concessional loans of Rs 10 billion as they are under mounting pressure due to lack of liquidity.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">May 1: Operators of cooperatives have asked for financial assistance from the government in the form of concessional loans of Rs 10 billion as they are under mounting pressure due to lack of liquidity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">As the return on savings is more than the deposit collection and loan recovery, some cooperatives have reached a situation where they are unable to return even the savings of their members. Stating that this has had a negative impact on the entire cooperative campaign, the National Cooperative Federation, the umbrella body of cooperatives, has requested loan assistance from the government at a concessional interest rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The federation held a press conference and presented a 13-point demand to the government to solve the problems of the cooperatives sector. In the demand letter, the federation has urged for a concessional loan of Rs 10 billion to bail out the cooperatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The federation has demanded that the Ministry of Home Affairs should immediately issue circulars to all 77 district administration offices to allow the cooperatives to operate smoothly, make arrangements to freeze the property of debtors, give time until mid-July for tax payment, announce a package of cooperative integration, remove the limit of individual savings of Rs 2.5 million, cancel the reference interest rate and arrange automatic interest rate, announce a cooling period of two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">They also demanded that credit information center, debt recovery tribunal, as well as savings and credit protection fund should be established immediately and a second level regulatory body should be formed. Other demands include registration of cooperatives, expansion of scope of work, and end to discrepancies of service centers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Om Devi Malla, senior vice president of the federation and coordinator of the Problem Solving Coordination Committee said that the demand letter has be submitted to the Ministry of Cooperatives, all districts and provinces by April 30 and if the government fails to fulfill their demands, they will go on strike from May 1.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Although the problem of liquidity in banks and financial institutions has been almost resolved, the problems faced by the cooperatives have been increasing. The crisis faced by a handful of cooperatives is having a ripple effect on the entire cooperative sector as people have stated to doubt the cooperatives which in turn might be detrimental to the future of the cooperative sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The government officials are saying that the problem of liquidity has arisen because the cooperatives have indiscriminately invested in unproductive sectors including real estate. The monitoring and reporting of cooperatives has not been possible because the cooperatives now fall under the jurisdiction of the provincial and local levels.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Due to this, even the government does not have actual information about the condition of cooperatives. The Department of Cooperatives of the federal government has proposed to form a study task force to solve the problem. It is said that the proposal of the department has been forwarded to the ministry where it is gathering dust.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17460', 'image' => '20230501020439_cooperative-new.jpg', 'article_date' => '2023-05-01 14:04:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17725', 'article_category_id' => '1', 'title' => 'Resource Management becoming more Challenging for the Government', 'sub_title' => '', 'summary' => 'May 1: The discrepancy between the government’s income and expenditure is on a continuous rise. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 1: The discrepancy between the government’s income and expenditure is on a continuous rise. In ten and a half months of the current fiscal year (FY 2022/23), the gap between the government's income and expenditure has deepened due to the failure in revenue collection as per the target.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Finance, the budget deficit has now reached Rs 300 billion. By mid-April this year, the government met only 50 percent of the annual target of Rs 708 billion. During the same period, the government’s expenditure reached Rs 991 billion, which is 55.27 percent of the target. This makes the budget deficit of the government stand at Rs 283 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the corresponding period of last fiscal year, the total budget deficit of the government was only Rs 53 billion. At that time, the government’s revenue collection was 70 percent of the target while the expenditure was about 54 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat directed the agencies concerned to try to raise the maximum revenue, saying that the target of revenue set for the current year will not be met.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A senior official of the Ministry of Finance said that the officials of the Inland Revenue Department and the Department of Customs have been instructed to mobilize their mechanisms to collect revenue equivalent to that of last year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“There is no situation to raise revenue according to the current year's target, the finance minister has also assessed this situation and asked to raise revenue equivalent to that of last year's,” said the official requesting anonymity. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Due to the pressure on resources management, the government has stopped grants going to the state and local levels. The Ministry of Finance, in a letter to the Financial Comptroller General Office, instructed to halt the equalization grants of Rs 23.13 billion going to the state and local governments. A meeting of the Council of Ministers on April 25 decided to send only 50 percent of the equalization grant to be released in the final installment. According to the cabinet decision, the state governments will get Rs 9.93 billion and the local level will get only Rs 13.20 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Officials of the Ministry of Finance say that although the distribution of salaries and pensions and social security allowances of the employees has not stopped so far, the situation is likely to become challenging in the future due to the pressure on the resources.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last month, due to lack of resources, about 20,000 teachers were not paid their salaries. The finance ministry has been requested to release the budget and the teachers are likely to be paid this month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A few days ago, former Chief Secretary Bimal Koirala had suggested the government on social media to cut expenses. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17459', 'image' => '20230501011628_Budget.jpg', 'article_date' => '2023-05-01 13:15:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17724', 'article_category_id' => '1', 'title' => 'Evaluation Committee Formed to Facilitate Distribution of Stock Exchange License', 'sub_title' => '', 'summary' => 'May 1: The Securities Board of Nepal (SEBON) has decided to form an evaluation committee to make the license distribution process of the new stock exchange more reliable.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 1: The Securities Board of Nepal (SEBON) has decided to form an evaluation committee to make the license distribution process of the new stock exchange more reliable.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A meeting of the board of directors of SEBON held on Sunday morning decided to form the evaluation committee chaired by Phanindra Gautam, joint secretary of the Ministry of Law, Justice and Parliamentary Affairs. Gautam is a member of the board of directors of SEBON representing the ministry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the information shared by SEBON, Ritesh Kumar Shakya and Mukunda Kumar Kshettri are the members of the evaluation committee. Shakya is a member of the Board of Directors of SEBON representing the Ministry of Finance and Kshettri is from Nepal Rastra Bank. SEBON’s Executive Director Muktinath Shrestha and Assistant Executive Director Ambika Giri have been appointed as members of the evaluation committee on behalf of the board.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board had asked for applications from April 13 to April 23 to issue a license to a new stock exchange to the private sector. During the specified period, Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange submitted applications. The board will issue license to only one out of the three companies, which according to SEBON officials is a challenging task. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">SEBON Chairman Ramesh Kumar Hamal said that a license will be given to a company that completes the due processes as per the rules. Although the situation of choosing one company out of three is challenging, Hamal believes that it will be somewhat easier as the license distribution process will proceed based on the report of the evaluation committee.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Hamal, the evaluation committee will study the detailed business plans of the applications received for the license of the new stock exchange. After evaluating the detailed action plan submitted by the three companies, the evaluation committee will determine the order of merit of the applicants and submit it to the Board of Directors. Hamal has made it clear that license will be given to a company that gets the highest marks based on the order of merit.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17458', 'image' => '20230501122226_Sebon-update.jpg', 'article_date' => '2023-05-01 12:21:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17723', 'article_category_id' => '1', 'title' => 'Government Transfers Budget worth Rs 33.3 Billion in a Month', 'sub_title' => '', 'summary' => 'May 1: The government made budget transfer of Rs 33.5 billion including transfer of funds, reallocation of resources and additional disbursements in the Nepali month of Chaitra (mid-March to mid-April) of the current fiscal year.', '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 1: The government made budget transfer of Rs 33.5 billion including transfer of funds, reallocation of resources and additional disbursements in the Nepali month of Chaitra (mid-March to mid-April) of the current fiscal year.</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 details published by the Ministry of Finance shows that the government transferred budget worth Rs 33.35 billion from one sub-heading to another in the review period.</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"">During this period, the Ministry of Finance transferred an amount worth Rs 27 billion to pay internal debts. This amount has been disbursed under the miscellaneous heading. Similarly, the government has transferred an additional amount of Rs 2.8 million under the heading of miscellaneous account for the current expenses of the office of the Gandaki Province chief.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Rs 5 million has been disbursed as extra-time allowance for the employees of the Federal Parliament Secretariat, security personnel and personal secretariat of the parliament officials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has also released Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">3.3 million for the Public Service Commission, and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0 million to the Office of the Prime Minister and Council of Ministers.</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 Ministry of Finance, multi-year contracts were approved for two projects and programs in the review month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has agreed to ensure funds worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">405</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million under the Ministry of Forest and Environment, and Rs 76.2 for the Samakhusi-Tokha-Gujre road project under the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Rs 19 million earmarked by the Ministry of Energy, Water Resources and Irrigation for Budhi Gandaki Hydropower Project has been transferred for river control projects. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, budget of Rs 36.4 million allocated for Palungtar-Kundutar Irrigation Project and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9 million for Irrigation Rehabilitation Project have been transferred for river control projects.</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 Ministry of Physical Infrastructure and Transport has reduced the budget allocated for the North-South Highway Project by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million and transferred the amount to the Kathmandu Valley Road Expansion Project. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17457', 'image' => '20230501115013_finance_ministry_copy1.jpg', 'article_date' => '2023-05-01 11:49:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17722', 'article_category_id' => '1', 'title' => 'Mugu Villagers Living in Darkness for Years ', 'sub_title' => '', 'summary' => 'May 1: Many villages in Mugu district are without electricity for years, affecting the local people in many ways.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Many villages in Mugu district are without electricity for years, affecting the local people in many ways. Lack of power supply means the villagers have to depend on traditional sources of light like 'diyalo' (pine tree wood with resin that produces light when lit), and kerosene lamp. Using traditional means of light has had many health problems for them. </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"">Kumma Lal Budha of Sobhagun of Chhayanath Rara Municipality-12 and his family are relying on diyalo for years. Budha, now 69, is suffering from asthma and eye problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I am suffering from asthma and eye problems as a result of depending on diyalo for years. We are dependent on diyalo since the time of our forefathers,” he said. He has been suffering from asthma for around 25 years as a result of smoke inhalation from diyalo, he claimed. He also has a cataract. Many villagers have been suffering from the disease as a result of using traditional means of lighting, he maintained. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Budha has now lost his hope that he would see electricity during his lifetime. “The village may not get electricity during my lifetime. Even now, we are dependent on diyalo,” he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Smoke emanating from diyalo has been a major factor for elderly people to develop asthma, said an official at Karmarong Rural Municipality. Around 75 percent of elderly people have contracted the disease due to smoke from diyalo, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of around 1,200 households in this rural municipality, 431 lack access to electric power, forcing them to be dependent on diyalo and kerosene lamp. Power generated from 60 kilowatts solar panels set up at Sorukot cannot be enough to illuminate all the villages, said a local Karna Jung Shahi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of budget has been a major concern to expand the Nerkhola Hydropower Project and illuminate all the villages, said Dharma Bahadur Shahi, chairperson of the Sorukot Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villagers of Chhayanath Rara Municipality need to visit Gamgadhi bazaar, a half an hour walk from the village, to get their electric gadgets charged, he said. They feel the pain as the Gamgadhi bazaar just across the village has been illuminated with electric power while they have to endure darkness, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Around 165 families of the village have been living in the dark without electricity, said the village authorities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of around 9,000 households in the entire district, approximately 5,000 have been relying on diyalo, according to the latest census. The remaining have got access to electric power and alternative energy. Of the total 2,546 households in Chhayanath Rara Municipality, 1600 have got access to electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villages including Shova, Rowa, Tallekh, Ghattalekh, Salim, Rayangchyakati, Lumsa, Balchaur, Kampha, Baam and Murma are without electric power. The government has yet to expand the national transmission line in the district. The villages that have been illuminated have got power generated from local hydropower projects and alternative energy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other hand, flooding and landslides have damaged many local hydropower projects, thus cutting off electric power to many villages. The flooding and landslides on 5 October, 2022 swept away 15 micro hydropower projects in Khatyad Rural Municipality, discontinuing electricity to the villagers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Without repair of the damaged projects, around 3,651 households in this rural municipality are forced to rely on kerosene lamp and diyalo, said vice chairperson of the rural municipality, Sarita Rokaya. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Natural disasters damaged 15 micro hydropower projects including Seri, Toli, Kharka, Kerai Chimadungri, Paikhu, Jamirkarkha, Panseri and Raskotibada,” she said. It requires at least Rs 100 million for repairing the hydropower projects. “The rural municipality alone cannot manage budget for the repair. The provincial and federal governments have not been concerned about the matter,” she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals have been affected in many ways without power, she said. School-going children have been affected without electricity, and the locals have been deprived of income generated from electric-run equipment, she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“We are unable to run small industries for lack of electricity,” said a local entrepreneur Lokraj Dahal. The rural municipality is considered to be a pocket area for agricultural products and fruits. Industry that makes concrete blocks, sewing and tailoring shops, bread industry, saw mill and crusher industry could be run in the villages, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Children have been deprived of computer classes without electric power, said a local school teacher, Kamal Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal government two years ago came up with a plan to install 400 kilowatts solar plant in Gamgadhi after the Gamgadh Micro Hydropower Project got obstructed from time to time due to various reasons, said the authorities. However, the project is yet to proceed ahead due to lack of budget, said Dharma Bahadur Shahi, chairperson of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, lawmakers from Karnali Province including Ain Bahadur Shahi have been putting pressure on the authorities concerned to connect Mugu with the national transmission line. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following this, executive director of the Nepal Electricity Authority Kulman Ghising on an occasion pledged to expand the line to the district within mid-July. He made this promise during his visit some seven months ago to Mugu and Humla district to carry out a feasibility study on expanding the transmission line. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17456', 'image' => '20230501101144_murma-surroundings.jpg', 'article_date' => '2023-05-01 10:10:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17721', 'article_category_id' => '1', 'title' => 'Police Arrest Suspect Behind the Murder of Nira Pandey', 'sub_title' => '', 'summary' => 'May 1: Police have arrested a person suspected of killing Nira Pandey Acharya in Saraswatinagar, Kapan about two weeks ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Police have arrested a person suspected of killing Nira Pandey Acharya in Saraswatinagar, Kapan about two weeks ago.</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"">According to the police, thirty-five-year-old Pandey, who ran a kitchen supply store at Sarswatinagar of Kapan, was stabbed to death on April 20 by Binod BK, a local resident of Mechi Municipality-10 in Jhapa district and currently residing at Lokanthali of Bhaktapur Municipality-1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eleven days after the murder, the police on Sunday made public the alleged murderer amid mounting pressure to resolve the case of broad daylight murder.</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"">Police investigations have revealed that BK murdered Pandey with a motive of robbery.</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 Central Investigation Bureau (CIB) of Nepal Police however said that further investigation is underway and they are trying to find out if there were any other motives besides robbery.</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"">Organising a press conference at the CIB office in Maharajgunj on Sunday, the police said they arrested BK from Jhapa on Saturday.</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"">Senior Superintendent of Police (SSP) Dinesh Acharya of CIB shared that BK has already confessed to the crime. The police added that BK stabbed Pandey multiple times with a kitchen knife when she tried to resist him during the robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, BK used to work in a casino and later as a bouncer. After he got into debt and was rendered cash-strapped, he started robbery to make easy money.</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"">BK robbed a gold chain and cash from Pandey’s shop after the murder and was hiding in Bhaktapur for a week after the incident. He then left for Jhapa where he was arrested along with the clothes, shoes and bag used by the alleged murderer during the incident. </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"">During the investigation, police suffered an initial setback as the CCTV cameras in the vicinity were not functional. The police then studied the video footages of the surrounding areas to identify the culprit. Police investigation also ruled out domestic violence as the reason behind the murder.</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"">Pandey was found lying unconscious in a pool of blood in her shop hours after the incident on April 20. The incident occurred in the afternoon when very few customers visit shops.</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"">Severely injured by the stabbing, Nira was rushed to the TU Teaching Hospital, Maharjgunj, where she was declared dead by the doctors. </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"">Pandey, who is originally from Baglung, was living in a rented flat with her husband nearby. Her husband had an electronics shop in the ground floor of the house where the couple stayed. Their rented room and electronic shop were just a few minutes’ walk away from her shop. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17455', 'image' => '20230501093916_nepal police.jpg', 'article_date' => '2023-05-01 09:38:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17720', 'article_category_id' => '268', 'title' => 'Cost of Import of Food Items Via Birgunj Customs Office Doubles ', 'sub_title' => '', 'summary' => 'Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 1: Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in the cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Information officer Ramchandra Dhakal, Nepal has imported food items worth NPR 28.91 billion during this period, whereas only NPR 12.18 billion was spent on the import of food items during same period in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, the import of paddy has taken the lead. Traders have increased the import of paddy after India fixed a quota of 6 lakh tons. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As most of the rice mills in Nepal rely on imported paddy from India, Nepal imported 2,88,000 tons of paddy in nine months through the Birgunj customs point. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This amount has risen significantly from 1,93,000 tons of paddy imported during the same period in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the import of other food items, except paddy, has decreased. Import of rice has fallen to 30,000 tons worth NPR 2.35 billion compared to the previous fiscal year's import of 37,000 tons worth NPR 2.37 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the import of maize has decreased by 20 percent to 62,658 tons worth NPR 10.61 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The imposition of a quota system by India on wheat export has resulted in an 83 percent decline in wheat import, which has adversely affected the production of domestic industries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Only 3,472 tons of wheat were imported via the Birgunj customs office during the first nine months of the current fiscal year compared to 20,422 tons during the same period last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Import of other food items such as millet has also decreased.</span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17454', 'image' => '20230501072052_collage (6).jpg', 'article_date' => '2023-05-01 07:18:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17719', 'article_category_id' => '1', 'title' => '1.3 Million Hectares of Arable Land Left Barren, Says Agriculture Minister', 'sub_title' => '', 'summary' => 'Minister for Agriculture and Livestock Development, Dr Beduram Bhusal, has said that 1.3 million hectares of cultivable land in Nepal has been left barren.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">May 1: Minister for Agriculture and Livestock Development, Dr Beduram Bhusal, has said that 1.3 million hectares of cultivable land in Nepal has been left barren. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaking at an event commemorating the 73rd anniversary of the All Nepal Peasants' Federation in Kathmandu on Sunday, the Minister emphasized the importance of utilizing this land to increase agricultural production.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Furthermore, Minster Bhusal announced that the forthcoming annual budget and policies would provide incentives to farmers, acknowledging that the agriculture sector has been neglected due to several issues. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Bhusal revealed that the current budget allocation of Rs 51 billion for the Agriculture Ministry has been mostly allocated towards buying chemical fertilizers, with only a small portion allotted to local and provincial levels and government employees. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">As a result, the Minister emphasized the need for additional funding to assist farmers and boost the agriculture sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">In addition, Minister Bhusal underscored the importance of providing timely access to chemical fertilizers, seeds, irrigation, tools, and infrastructure to maximize agricultural benefits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister expressed the government's commitment to ensuring food sovereignty and shared that regulations were being drafted to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">At the same event, Bhairav Regmi, leader of the peasant movement, expressed hope that the government would address the 62-point demand they submitted to safeguard peasants' rights. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Balram Banskota, Chairman of the All Nepal Peasants' Federation, highlighted that the development of agriculture is a prerequisite to the country's progress.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17453', 'image' => '20230501061137_collage (4).jpg', 'article_date' => '2023-05-01 06:06:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17718', 'article_category_id' => '1', 'title' => 'NRB Revises Ceiling for Exchange of US Dollar', 'sub_title' => '', 'summary' => 'April 30: Nepal Rastra Bank (NRB) has increased the ceiling for the exchange of the US dollar.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">April 30: Nepal Rastra Bank (NRB) has increased the ceiling for the exchange of the US dollar. Revising the Integrated Circular, 2079 BS issued for the bank and financial institutions on Friday, the central bank increased the ceiling for the exchange of the US dollar. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Prior to this, NRB-licensed money changers were allowed to make an exchange of USD 500 with a Nepali citizen. Now such a ceiling has been raised up to US$ 5,000. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">However, the revised provision will not be applicable for the amount received as gifts and tips from foreign friends and clients. The revised provision is to facilitate the currency exchange for Nepali students going for abroad studies meeting all the required procedures. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, the provision related to the convertible foreign currency which the foreigners working in Nepal can take home has also been amended. A new provision has been added for foreign citizens working in airlines companies providing service in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the new provision, foreign citizens working in airline companies in Nepal can convert a maximum of 70 percent of their salary, after paying taxes, into foreign currency and send the money to their respective country provided that they have taken labour permits and the term of service is still active. In case of Indian citizens, they can convert their salary into Indian currency. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17452', 'image' => '20230430063918_dollar.jpg', 'article_date' => '2023-04-30 18:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17717', 'article_category_id' => '1', 'title' => 'NEPSE’s Fall Continues; All Sectors Land in Red ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continued its downward trend for the third consecutive trading day on Sunday. ', 'content' => '<p><span style="font-size:20px">April 30: The Nepal Stock Exchange (NEPSE) Index continued its downward trend for the third consecutive trading day on Sunday. </span></p> <p><span style="font-size:20px">The NEPSE Index dropped by 19.11 points or 1.1% and settled at 1870.65 points on the first trading day of the week. The Index lost a total of 35 points in three trading days.</span></p> <p><span style="font-size:20px">Experts have attributed the persistent downturn in the stock market to the ongoing financial crisis faced by the country. Investors have expressed concerns and called for policy-level changes to boost their confidence and investment capacity.</span></p> <p><span style="font-size:20px"> A veteran investor noted that the lack of liquidity in the market has further dampened investors' confidence.</span></p> <p><span style="font-size:20px">During the trading day, a total of 271 scrips exchanged hands via 26,801 transactions, resulting in a turnover of Rs. 95.43 crores, which is higher than the previous trading day's turnover of Rs. 73.96 crores. </span></p> <p><span style="font-size:20px">Shivam Cements Limited (SHIVAM) had the highest turnover of Rs. 4.25 crores, closing at a market price of Rs. 405 per share. The shares of NIMB were the most traded.</span></p> <p><span style="font-size:20px">NMB Sulav Investment Fund - 2 (NSIF2) gained the highest 3.33% for the day, while NIBL Growth Fund (NIBLGF) lost the highest 8.89%.</span></p> <p><span style="font-size:20px">All traded 13 sector indices landed in the red zone, with hydropower experiencing the highest decline of 1.87%, while investment lost the least at 0.53%.</span></p> <p><span style="font-size:20px">Moreover, the Sensitive Index lost 0.82%, while the Float Index and Sensitive Float Index both lost 1.1% and 0.95%, respectively. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17451', 'image' => '20230430053618_collage (3).jpg', 'article_date' => '2023-04-30 17:34:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17716', 'article_category_id' => '1', 'title' => 'Adverse Weather Affects Flights at TIA', 'sub_title' => '', 'summary' => 'Adverse weather conditions have disrupted flights to and from the Tribhuvan International Airport (TIA). Tribhuvan International Office (TIA) said that both domestic and international flights were affected owing to low visibility, caused by rains and wind.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Adverse weather conditions have disrupted flights to and from the Tribhuvan International Airport (TIA). </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Tribhuvan International Office (TIA) said that both domestic and international flights were affected owing to low visibility, caused by rains and wind.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Some international flights were put on hold in the sky due to low visibility and bad weather, according to TIA general manager Pratap Babu Tiwari. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">As a result of bad weather, a Colombo-Kathmandu aircraft of the Sri Lankan Airlines was on hold in the Kathmandu sky for half an hour, and that of Batik Air was on hold in the Simara Sky, Tiwari said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Domestic flights have reported delays in taking off due to bad weather conditions, said the TIA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Rainfall is taking place in most parts of the country with the impact of the Westerly wind and local wind, according to the Meteorological Forecasting Division. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The rain had also affected flights on Saturday afternoon. </span></span></p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17450', 'image' => '20230430041400_collage (2).jpg', 'article_date' => '2023-04-30 16:12:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, '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' => '17730', 'article_category_id' => '1', 'title' => 'Mt Everest Sees Highest Number of Climbers in Seven Decades ', 'sub_title' => '', 'summary' => 'May 2: A record number of climbers are attempting to scale the highest mountain in the world – Mt Everest – during this spring season. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 2: A record number of climbers are attempting to scale the highest mountain in the world – Mt Everest – during this spring season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, a total of 466 climbers from 43 groups have obtained permits to climb Everest. Among them 98 are female and remaining 368 are male, said the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climbers eyeing to scale Everest this season are from 65 different countries including Nepal as per the records of the department. From Nepal, 15 climbers have received permits this season. Similarly, 96 climbers from China have been granted permits followed by 89 from the USA and 40 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 33 from Hungary have acquired climbing permits, 21 from Canada, 18 from Russia and 15 from the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former President of Nepal Mountaineering Association, Ang Tshering Sherpa, opined that the number of climbers obtaining permit from Nepal might have increased considerably as climbing from the Tibet side (northeast ridge route) is not permitted since the outbreak of the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has been 70 years since human first set their feet on top of Mt Everest. Tenzing Norgay Sherpa and Edmund Hillary had successfully reached atop the Everest on May 29, 1953. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since then, around 7,000 national and international climbers have successfully climbed the 8,848.86 metres mountain till date while over 300 have lost their lives attempting to climb the world’s highest peak, according to the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, 323 climbers from 44 groups had obtained permission for Everest expedition, informed Bigyan Koirala, officer at the Mountaineering Section of the department. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-02', 'modified' => '2023-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '17464', 'image' => '20230502104644_20220516042550_expedition-in-nepal.jpg', 'article_date' => '2023-05-02 10:43:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17729', 'article_category_id' => '1', 'title' => 'CBFIN Decides to File Case Against Anti-Banking Activities', 'sub_title' => '', 'summary' => 'The Confederation of Banks and Financial Institutions (CBFIN) has decided that it will take legal action against any individual, organization, or group involved in activities that harm the credit and reputation of banks and financial institutions.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 2: The Confederation of Banks and Financial Institutions (CBFIN) has decided that it will take legal action against any individual, organization, or group involved in activities that harm the credit and reputation of banks and financial institutions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a recent working committee meeting held on April 27th. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CBFIN has expressed concern over illegal activities that have been carried out against banks and financial institutions by damaging their assets, credits, and reputation and terrifying employees over a period of time. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a result, the confederation has decided to take strict legal measures against such actions and register case against them to the appropriate authorities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The press release issued by CBFIN stated that legal action would be taken against individuals, groups, or organizations that damage the reputation, dignity, credibility, or property of the banks and financial institutions and obstruct banking business.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, CBFIN has urged individuals and organizations to avoid engaging in activities prohibited by existing laws, such as creating confusion about banks and financial institutions, and discouraging payment of interest on loans taken from banks.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The press release emphasizes that all banks are united and committed to using the powers conferred by the law to protect the rights and interests of financial institutions' depositors, borrowers, and stakeholders as a whole. </span></span></p> ', 'published' => true, 'created' => '2023-05-02', 'modified' => '2023-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '17463', 'image' => '20230502060128_collage.jpg', 'article_date' => '2023-05-02 05:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17728', 'article_category_id' => '1', 'title' => 'SEBON Grants Letter of Intent to 16 Companies for New Brokerage Licenses', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal (SEBON) has decided that it will grant Letters of Intent (LoI) to sixteen companies for new stock brokerage licenses. The decision was taken by the Board of Directors of the SEBON during a meeting held on Monday morning.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 1: The Securities Board of Nepal (SEBON) has decided that it will grant Letters of Intent (LoI) to sixteen companies for new stock brokerage licenses. The decision was taken by the Board of Directors of the SEBON during a meeting held on Monday morning.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Nabil Securities Limited has been granted the letter of intent to work as a Stock Dealer, while Megha Stock Market Limited has been given the letter of intent to operate as a full-service securities broker in accordance with its application. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Additionally, fourteen other companies have been provided with the letter of intent to operate as limited securities brokers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The SEBON received a total of 46 applications for new broker licenses, including one from an existing broker company. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to Mukti Shrestha, the SEBON spokesperson, the process to grant licenses to the remaining companies will continue. Shrestha clarified that the SEBON is currently assessing the documents submitted by the other companies for new broker licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The companies that have received the letter of intent will be granted licenses after they fulfill the necessary procedures. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalaya Brokerage Company, CBIL Securities, KBL Securities, NMB Securities, RBB Securities, Sanima Securities, Index Securities, Sun Securities, Capital Max Securities, Bhole Ganesh Securities, Infinity Securities, Aakash Bhairab Securities, Elite Stock House, and SPSS Securities are the fourteen companies that have been granted the letter of intent to work as limited securities brokers.</span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17462', 'image' => '20230501044008_collage (4).jpg', 'article_date' => '2023-05-01 16:36:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17727', 'article_category_id' => '1', 'title' => 'Ice Cream Produced in Nepal Struggling to Compete with Foreign Brands', 'sub_title' => '', 'summary' => 'May 1: There are currently more than 50 ice cream industries in Nepal.', '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 1: There are currently more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ice cream industries in Nepal. The ice cream they produce is not inferior to foreign brands in any way. However, since the price of foreign products is cheap, the local Nepali products are struggling to find a market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Dozens of flavors of ice cream including vanilla, chocolate, butter scotch, and strawberry are available in the market. In Nepal, there is competition between domestic brands such as Nepal Dairy, DDC, Ajabko, Snowfun, Every Day as well as imported foreign brands of ice cream such as Baskin-Robbins, Vadilal, Amul and Cream Bell.</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"">Traders say that consumers prefer foreign brand ice creams to domestic brands. As a result, retail traders say that Nepali ice cream brands are losing customers as the consumers are looking for imported ice cream.</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 goods we sell are manufactured here. But the consumers go to supermarkets looking for foreign goods. Therefore, even though the demand for ice cream increases during the summer season, Nepali ice cream is not sold much," said a retailer.</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 data of the Department of Customs shows that the import of ice cream has increased in the last five years. In the Fiscal Year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">074/75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Nepal imported 412,866 kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">179</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million.</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"">In FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">075/76</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">598,913</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilograms of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">188</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported into Nepal. However, its import decreased in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">076/77. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the Covid-19 pandemic, the ice cream import decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">294</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</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""> kg worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">130</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million in that year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the import of ice cream increased again in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">077/78. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In that year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">341</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">744</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">145</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">078/79</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">268.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported into Nepal.</span></span></span></span></p> <p> </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"">Rajendra Adhikari, spokesperson for Nepal Dairy Development Corporation, says that they are not able to produce ice cream as per the demand due to lack of raw materials for making ice cream. He says that the lack of raw materials has created a situation where ready-made ice cream from outside has to be promoted in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“When there is not enough curd and milk, there is no situation to make ice cream. That is why the import has increased," he said. He claimed that the lack of milk in the domestic market has also cause problems in ice cream production.</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"">Arjun Adhikari, a member of the ice cream department of Nepal Dairy Association and owner of Amul Dairy and Beverage Pvt Ltd, complained that Nepali companies are not getting market due to foreign brands despite the increase in demand for ice cream in summer.</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 says that even though the demand in the market has increased, it is difficult for Nepali brands to compete because of foreign brands.</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 quality of our ice cream is not less than that of foreign countries. However, it is difficult to win the trust of customers because of foreign ice cream. In addition to that, it is difficult for us to compete on price due to the high customs duty on raw materials,” said an office bearer of the association.</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 official, the ice cream trade only lasts from January to August. For the remaining four months, the industry will have to be shut down during the winter season.</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"">'Government needs to bring industry friendly policy'</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"">While the customs duty on readymade ice cream imported from other countries is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, the customs duty on raw materials is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. </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"">“In such a situation, how can domestic companies compete on price?” questioned Prahlad Dahal, president of Nepal Dairy Association.</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"">“In order to save indigenous producers and make the country self-sufficient in ice cream, the government needs to bring an industry-friendly policy,” he added.</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 President Dahal, there are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> small and large ice cream industries in Nepal. These industries produce more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> liters of ice cream on an average day. However, he says that it is difficult for these industries to find the market due to lack of industry-friendly policy of the government.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '17461', 'image' => '20230501020533_ice.jpg', 'article_date' => '2023-05-01 14:04:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17726', 'article_category_id' => '1', 'title' => 'Cooperatives Seek Rs 10 Billion in Concessional Loan from Government', 'sub_title' => '', 'summary' => 'May 1: Operators of cooperatives have asked for financial assistance from the government in the form of concessional loans of Rs 10 billion as they are under mounting pressure due to lack of liquidity.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">May 1: Operators of cooperatives have asked for financial assistance from the government in the form of concessional loans of Rs 10 billion as they are under mounting pressure due to lack of liquidity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">As the return on savings is more than the deposit collection and loan recovery, some cooperatives have reached a situation where they are unable to return even the savings of their members. Stating that this has had a negative impact on the entire cooperative campaign, the National Cooperative Federation, the umbrella body of cooperatives, has requested loan assistance from the government at a concessional interest rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The federation held a press conference and presented a 13-point demand to the government to solve the problems of the cooperatives sector. In the demand letter, the federation has urged for a concessional loan of Rs 10 billion to bail out the cooperatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The federation has demanded that the Ministry of Home Affairs should immediately issue circulars to all 77 district administration offices to allow the cooperatives to operate smoothly, make arrangements to freeze the property of debtors, give time until mid-July for tax payment, announce a package of cooperative integration, remove the limit of individual savings of Rs 2.5 million, cancel the reference interest rate and arrange automatic interest rate, announce a cooling period of two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">They also demanded that credit information center, debt recovery tribunal, as well as savings and credit protection fund should be established immediately and a second level regulatory body should be formed. Other demands include registration of cooperatives, expansion of scope of work, and end to discrepancies of service centers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Om Devi Malla, senior vice president of the federation and coordinator of the Problem Solving Coordination Committee said that the demand letter has be submitted to the Ministry of Cooperatives, all districts and provinces by April 30 and if the government fails to fulfill their demands, they will go on strike from May 1.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Although the problem of liquidity in banks and financial institutions has been almost resolved, the problems faced by the cooperatives have been increasing. The crisis faced by a handful of cooperatives is having a ripple effect on the entire cooperative sector as people have stated to doubt the cooperatives which in turn might be detrimental to the future of the cooperative sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The government officials are saying that the problem of liquidity has arisen because the cooperatives have indiscriminately invested in unproductive sectors including real estate. The monitoring and reporting of cooperatives has not been possible because the cooperatives now fall under the jurisdiction of the provincial and local levels.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Due to this, even the government does not have actual information about the condition of cooperatives. The Department of Cooperatives of the federal government has proposed to form a study task force to solve the problem. It is said that the proposal of the department has been forwarded to the ministry where it is gathering dust.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17460', 'image' => '20230501020439_cooperative-new.jpg', 'article_date' => '2023-05-01 14:04:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17725', 'article_category_id' => '1', 'title' => 'Resource Management becoming more Challenging for the Government', 'sub_title' => '', 'summary' => 'May 1: The discrepancy between the government’s income and expenditure is on a continuous rise. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 1: The discrepancy between the government’s income and expenditure is on a continuous rise. In ten and a half months of the current fiscal year (FY 2022/23), the gap between the government's income and expenditure has deepened due to the failure in revenue collection as per the target.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Finance, the budget deficit has now reached Rs 300 billion. By mid-April this year, the government met only 50 percent of the annual target of Rs 708 billion. During the same period, the government’s expenditure reached Rs 991 billion, which is 55.27 percent of the target. This makes the budget deficit of the government stand at Rs 283 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the corresponding period of last fiscal year, the total budget deficit of the government was only Rs 53 billion. At that time, the government’s revenue collection was 70 percent of the target while the expenditure was about 54 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat directed the agencies concerned to try to raise the maximum revenue, saying that the target of revenue set for the current year will not be met.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A senior official of the Ministry of Finance said that the officials of the Inland Revenue Department and the Department of Customs have been instructed to mobilize their mechanisms to collect revenue equivalent to that of last year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“There is no situation to raise revenue according to the current year's target, the finance minister has also assessed this situation and asked to raise revenue equivalent to that of last year's,” said the official requesting anonymity. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Due to the pressure on resources management, the government has stopped grants going to the state and local levels. The Ministry of Finance, in a letter to the Financial Comptroller General Office, instructed to halt the equalization grants of Rs 23.13 billion going to the state and local governments. A meeting of the Council of Ministers on April 25 decided to send only 50 percent of the equalization grant to be released in the final installment. According to the cabinet decision, the state governments will get Rs 9.93 billion and the local level will get only Rs 13.20 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Officials of the Ministry of Finance say that although the distribution of salaries and pensions and social security allowances of the employees has not stopped so far, the situation is likely to become challenging in the future due to the pressure on the resources.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last month, due to lack of resources, about 20,000 teachers were not paid their salaries. The finance ministry has been requested to release the budget and the teachers are likely to be paid this month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A few days ago, former Chief Secretary Bimal Koirala had suggested the government on social media to cut expenses. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17459', 'image' => '20230501011628_Budget.jpg', 'article_date' => '2023-05-01 13:15:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17724', 'article_category_id' => '1', 'title' => 'Evaluation Committee Formed to Facilitate Distribution of Stock Exchange License', 'sub_title' => '', 'summary' => 'May 1: The Securities Board of Nepal (SEBON) has decided to form an evaluation committee to make the license distribution process of the new stock exchange more reliable.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 1: The Securities Board of Nepal (SEBON) has decided to form an evaluation committee to make the license distribution process of the new stock exchange more reliable.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A meeting of the board of directors of SEBON held on Sunday morning decided to form the evaluation committee chaired by Phanindra Gautam, joint secretary of the Ministry of Law, Justice and Parliamentary Affairs. Gautam is a member of the board of directors of SEBON representing the ministry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the information shared by SEBON, Ritesh Kumar Shakya and Mukunda Kumar Kshettri are the members of the evaluation committee. Shakya is a member of the Board of Directors of SEBON representing the Ministry of Finance and Kshettri is from Nepal Rastra Bank. SEBON’s Executive Director Muktinath Shrestha and Assistant Executive Director Ambika Giri have been appointed as members of the evaluation committee on behalf of the board.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board had asked for applications from April 13 to April 23 to issue a license to a new stock exchange to the private sector. During the specified period, Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange submitted applications. The board will issue license to only one out of the three companies, which according to SEBON officials is a challenging task. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">SEBON Chairman Ramesh Kumar Hamal said that a license will be given to a company that completes the due processes as per the rules. Although the situation of choosing one company out of three is challenging, Hamal believes that it will be somewhat easier as the license distribution process will proceed based on the report of the evaluation committee.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Hamal, the evaluation committee will study the detailed business plans of the applications received for the license of the new stock exchange. After evaluating the detailed action plan submitted by the three companies, the evaluation committee will determine the order of merit of the applicants and submit it to the Board of Directors. Hamal has made it clear that license will be given to a company that gets the highest marks based on the order of merit.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17458', 'image' => '20230501122226_Sebon-update.jpg', 'article_date' => '2023-05-01 12:21:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17723', 'article_category_id' => '1', 'title' => 'Government Transfers Budget worth Rs 33.3 Billion in a Month', 'sub_title' => '', 'summary' => 'May 1: The government made budget transfer of Rs 33.5 billion including transfer of funds, reallocation of resources and additional disbursements in the Nepali month of Chaitra (mid-March to mid-April) of the current fiscal year.', '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 1: The government made budget transfer of Rs 33.5 billion including transfer of funds, reallocation of resources and additional disbursements in the Nepali month of Chaitra (mid-March to mid-April) of the current fiscal year.</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 details published by the Ministry of Finance shows that the government transferred budget worth Rs 33.35 billion from one sub-heading to another in the review period.</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"">During this period, the Ministry of Finance transferred an amount worth Rs 27 billion to pay internal debts. This amount has been disbursed under the miscellaneous heading. Similarly, the government has transferred an additional amount of Rs 2.8 million under the heading of miscellaneous account for the current expenses of the office of the Gandaki Province chief.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Rs 5 million has been disbursed as extra-time allowance for the employees of the Federal Parliament Secretariat, security personnel and personal secretariat of the parliament officials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has also released Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">3.3 million for the Public Service Commission, and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0 million to the Office of the Prime Minister and Council of Ministers.</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 Ministry of Finance, multi-year contracts were approved for two projects and programs in the review month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has agreed to ensure funds worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">405</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million under the Ministry of Forest and Environment, and Rs 76.2 for the Samakhusi-Tokha-Gujre road project under the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Rs 19 million earmarked by the Ministry of Energy, Water Resources and Irrigation for Budhi Gandaki Hydropower Project has been transferred for river control projects. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, budget of Rs 36.4 million allocated for Palungtar-Kundutar Irrigation Project and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9 million for Irrigation Rehabilitation Project have been transferred for river control projects.</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 Ministry of Physical Infrastructure and Transport has reduced the budget allocated for the North-South Highway Project by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million and transferred the amount to the Kathmandu Valley Road Expansion Project. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17457', 'image' => '20230501115013_finance_ministry_copy1.jpg', 'article_date' => '2023-05-01 11:49:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17722', 'article_category_id' => '1', 'title' => 'Mugu Villagers Living in Darkness for Years ', 'sub_title' => '', 'summary' => 'May 1: Many villages in Mugu district are without electricity for years, affecting the local people in many ways.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Many villages in Mugu district are without electricity for years, affecting the local people in many ways. Lack of power supply means the villagers have to depend on traditional sources of light like 'diyalo' (pine tree wood with resin that produces light when lit), and kerosene lamp. Using traditional means of light has had many health problems for them. </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"">Kumma Lal Budha of Sobhagun of Chhayanath Rara Municipality-12 and his family are relying on diyalo for years. Budha, now 69, is suffering from asthma and eye problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I am suffering from asthma and eye problems as a result of depending on diyalo for years. We are dependent on diyalo since the time of our forefathers,” he said. He has been suffering from asthma for around 25 years as a result of smoke inhalation from diyalo, he claimed. He also has a cataract. Many villagers have been suffering from the disease as a result of using traditional means of lighting, he maintained. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Budha has now lost his hope that he would see electricity during his lifetime. “The village may not get electricity during my lifetime. Even now, we are dependent on diyalo,” he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Smoke emanating from diyalo has been a major factor for elderly people to develop asthma, said an official at Karmarong Rural Municipality. Around 75 percent of elderly people have contracted the disease due to smoke from diyalo, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of around 1,200 households in this rural municipality, 431 lack access to electric power, forcing them to be dependent on diyalo and kerosene lamp. Power generated from 60 kilowatts solar panels set up at Sorukot cannot be enough to illuminate all the villages, said a local Karna Jung Shahi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of budget has been a major concern to expand the Nerkhola Hydropower Project and illuminate all the villages, said Dharma Bahadur Shahi, chairperson of the Sorukot Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villagers of Chhayanath Rara Municipality need to visit Gamgadhi bazaar, a half an hour walk from the village, to get their electric gadgets charged, he said. They feel the pain as the Gamgadhi bazaar just across the village has been illuminated with electric power while they have to endure darkness, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Around 165 families of the village have been living in the dark without electricity, said the village authorities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of around 9,000 households in the entire district, approximately 5,000 have been relying on diyalo, according to the latest census. The remaining have got access to electric power and alternative energy. Of the total 2,546 households in Chhayanath Rara Municipality, 1600 have got access to electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villages including Shova, Rowa, Tallekh, Ghattalekh, Salim, Rayangchyakati, Lumsa, Balchaur, Kampha, Baam and Murma are without electric power. The government has yet to expand the national transmission line in the district. The villages that have been illuminated have got power generated from local hydropower projects and alternative energy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other hand, flooding and landslides have damaged many local hydropower projects, thus cutting off electric power to many villages. The flooding and landslides on 5 October, 2022 swept away 15 micro hydropower projects in Khatyad Rural Municipality, discontinuing electricity to the villagers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Without repair of the damaged projects, around 3,651 households in this rural municipality are forced to rely on kerosene lamp and diyalo, said vice chairperson of the rural municipality, Sarita Rokaya. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Natural disasters damaged 15 micro hydropower projects including Seri, Toli, Kharka, Kerai Chimadungri, Paikhu, Jamirkarkha, Panseri and Raskotibada,” she said. It requires at least Rs 100 million for repairing the hydropower projects. “The rural municipality alone cannot manage budget for the repair. The provincial and federal governments have not been concerned about the matter,” she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals have been affected in many ways without power, she said. School-going children have been affected without electricity, and the locals have been deprived of income generated from electric-run equipment, she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“We are unable to run small industries for lack of electricity,” said a local entrepreneur Lokraj Dahal. The rural municipality is considered to be a pocket area for agricultural products and fruits. Industry that makes concrete blocks, sewing and tailoring shops, bread industry, saw mill and crusher industry could be run in the villages, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Children have been deprived of computer classes without electric power, said a local school teacher, Kamal Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal government two years ago came up with a plan to install 400 kilowatts solar plant in Gamgadhi after the Gamgadh Micro Hydropower Project got obstructed from time to time due to various reasons, said the authorities. However, the project is yet to proceed ahead due to lack of budget, said Dharma Bahadur Shahi, chairperson of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, lawmakers from Karnali Province including Ain Bahadur Shahi have been putting pressure on the authorities concerned to connect Mugu with the national transmission line. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following this, executive director of the Nepal Electricity Authority Kulman Ghising on an occasion pledged to expand the line to the district within mid-July. He made this promise during his visit some seven months ago to Mugu and Humla district to carry out a feasibility study on expanding the transmission line. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17456', 'image' => '20230501101144_murma-surroundings.jpg', 'article_date' => '2023-05-01 10:10:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17721', 'article_category_id' => '1', 'title' => 'Police Arrest Suspect Behind the Murder of Nira Pandey', 'sub_title' => '', 'summary' => 'May 1: Police have arrested a person suspected of killing Nira Pandey Acharya in Saraswatinagar, Kapan about two weeks ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Police have arrested a person suspected of killing Nira Pandey Acharya in Saraswatinagar, Kapan about two weeks ago.</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"">According to the police, thirty-five-year-old Pandey, who ran a kitchen supply store at Sarswatinagar of Kapan, was stabbed to death on April 20 by Binod BK, a local resident of Mechi Municipality-10 in Jhapa district and currently residing at Lokanthali of Bhaktapur Municipality-1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eleven days after the murder, the police on Sunday made public the alleged murderer amid mounting pressure to resolve the case of broad daylight murder.</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"">Police investigations have revealed that BK murdered Pandey with a motive of robbery.</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 Central Investigation Bureau (CIB) of Nepal Police however said that further investigation is underway and they are trying to find out if there were any other motives besides robbery.</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"">Organising a press conference at the CIB office in Maharajgunj on Sunday, the police said they arrested BK from Jhapa on Saturday.</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"">Senior Superintendent of Police (SSP) Dinesh Acharya of CIB shared that BK has already confessed to the crime. The police added that BK stabbed Pandey multiple times with a kitchen knife when she tried to resist him during the robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, BK used to work in a casino and later as a bouncer. After he got into debt and was rendered cash-strapped, he started robbery to make easy money.</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"">BK robbed a gold chain and cash from Pandey’s shop after the murder and was hiding in Bhaktapur for a week after the incident. He then left for Jhapa where he was arrested along with the clothes, shoes and bag used by the alleged murderer during the incident. </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"">During the investigation, police suffered an initial setback as the CCTV cameras in the vicinity were not functional. The police then studied the video footages of the surrounding areas to identify the culprit. Police investigation also ruled out domestic violence as the reason behind the murder.</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"">Pandey was found lying unconscious in a pool of blood in her shop hours after the incident on April 20. The incident occurred in the afternoon when very few customers visit shops.</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"">Severely injured by the stabbing, Nira was rushed to the TU Teaching Hospital, Maharjgunj, where she was declared dead by the doctors. </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"">Pandey, who is originally from Baglung, was living in a rented flat with her husband nearby. Her husband had an electronics shop in the ground floor of the house where the couple stayed. Their rented room and electronic shop were just a few minutes’ walk away from her shop. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17455', 'image' => '20230501093916_nepal police.jpg', 'article_date' => '2023-05-01 09:38:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17720', 'article_category_id' => '268', 'title' => 'Cost of Import of Food Items Via Birgunj Customs Office Doubles ', 'sub_title' => '', 'summary' => 'Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 1: Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in the cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Information officer Ramchandra Dhakal, Nepal has imported food items worth NPR 28.91 billion during this period, whereas only NPR 12.18 billion was spent on the import of food items during same period in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, the import of paddy has taken the lead. Traders have increased the import of paddy after India fixed a quota of 6 lakh tons. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As most of the rice mills in Nepal rely on imported paddy from India, Nepal imported 2,88,000 tons of paddy in nine months through the Birgunj customs point. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This amount has risen significantly from 1,93,000 tons of paddy imported during the same period in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the import of other food items, except paddy, has decreased. Import of rice has fallen to 30,000 tons worth NPR 2.35 billion compared to the previous fiscal year's import of 37,000 tons worth NPR 2.37 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the import of maize has decreased by 20 percent to 62,658 tons worth NPR 10.61 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The imposition of a quota system by India on wheat export has resulted in an 83 percent decline in wheat import, which has adversely affected the production of domestic industries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Only 3,472 tons of wheat were imported via the Birgunj customs office during the first nine months of the current fiscal year compared to 20,422 tons during the same period last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Import of other food items such as millet has also decreased.</span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17454', 'image' => '20230501072052_collage (6).jpg', 'article_date' => '2023-05-01 07:18:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17719', 'article_category_id' => '1', 'title' => '1.3 Million Hectares of Arable Land Left Barren, Says Agriculture Minister', 'sub_title' => '', 'summary' => 'Minister for Agriculture and Livestock Development, Dr Beduram Bhusal, has said that 1.3 million hectares of cultivable land in Nepal has been left barren.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">May 1: Minister for Agriculture and Livestock Development, Dr Beduram Bhusal, has said that 1.3 million hectares of cultivable land in Nepal has been left barren. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaking at an event commemorating the 73rd anniversary of the All Nepal Peasants' Federation in Kathmandu on Sunday, the Minister emphasized the importance of utilizing this land to increase agricultural production.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Furthermore, Minster Bhusal announced that the forthcoming annual budget and policies would provide incentives to farmers, acknowledging that the agriculture sector has been neglected due to several issues. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Bhusal revealed that the current budget allocation of Rs 51 billion for the Agriculture Ministry has been mostly allocated towards buying chemical fertilizers, with only a small portion allotted to local and provincial levels and government employees. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">As a result, the Minister emphasized the need for additional funding to assist farmers and boost the agriculture sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">In addition, Minister Bhusal underscored the importance of providing timely access to chemical fertilizers, seeds, irrigation, tools, and infrastructure to maximize agricultural benefits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister expressed the government's commitment to ensuring food sovereignty and shared that regulations were being drafted to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">At the same event, Bhairav Regmi, leader of the peasant movement, expressed hope that the government would address the 62-point demand they submitted to safeguard peasants' rights. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Balram Banskota, Chairman of the All Nepal Peasants' Federation, highlighted that the development of agriculture is a prerequisite to the country's progress.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17453', 'image' => '20230501061137_collage (4).jpg', 'article_date' => '2023-05-01 06:06:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17718', 'article_category_id' => '1', 'title' => 'NRB Revises Ceiling for Exchange of US Dollar', 'sub_title' => '', 'summary' => 'April 30: Nepal Rastra Bank (NRB) has increased the ceiling for the exchange of the US dollar.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">April 30: Nepal Rastra Bank (NRB) has increased the ceiling for the exchange of the US dollar. Revising the Integrated Circular, 2079 BS issued for the bank and financial institutions on Friday, the central bank increased the ceiling for the exchange of the US dollar. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Prior to this, NRB-licensed money changers were allowed to make an exchange of USD 500 with a Nepali citizen. Now such a ceiling has been raised up to US$ 5,000. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">However, the revised provision will not be applicable for the amount received as gifts and tips from foreign friends and clients. The revised provision is to facilitate the currency exchange for Nepali students going for abroad studies meeting all the required procedures. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, the provision related to the convertible foreign currency which the foreigners working in Nepal can take home has also been amended. A new provision has been added for foreign citizens working in airlines companies providing service in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the new provision, foreign citizens working in airline companies in Nepal can convert a maximum of 70 percent of their salary, after paying taxes, into foreign currency and send the money to their respective country provided that they have taken labour permits and the term of service is still active. In case of Indian citizens, they can convert their salary into Indian currency. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17452', 'image' => '20230430063918_dollar.jpg', 'article_date' => '2023-04-30 18:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17717', 'article_category_id' => '1', 'title' => 'NEPSE’s Fall Continues; All Sectors Land in Red ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continued its downward trend for the third consecutive trading day on Sunday. ', 'content' => '<p><span style="font-size:20px">April 30: The Nepal Stock Exchange (NEPSE) Index continued its downward trend for the third consecutive trading day on Sunday. </span></p> <p><span style="font-size:20px">The NEPSE Index dropped by 19.11 points or 1.1% and settled at 1870.65 points on the first trading day of the week. The Index lost a total of 35 points in three trading days.</span></p> <p><span style="font-size:20px">Experts have attributed the persistent downturn in the stock market to the ongoing financial crisis faced by the country. Investors have expressed concerns and called for policy-level changes to boost their confidence and investment capacity.</span></p> <p><span style="font-size:20px"> A veteran investor noted that the lack of liquidity in the market has further dampened investors' confidence.</span></p> <p><span style="font-size:20px">During the trading day, a total of 271 scrips exchanged hands via 26,801 transactions, resulting in a turnover of Rs. 95.43 crores, which is higher than the previous trading day's turnover of Rs. 73.96 crores. </span></p> <p><span style="font-size:20px">Shivam Cements Limited (SHIVAM) had the highest turnover of Rs. 4.25 crores, closing at a market price of Rs. 405 per share. The shares of NIMB were the most traded.</span></p> <p><span style="font-size:20px">NMB Sulav Investment Fund - 2 (NSIF2) gained the highest 3.33% for the day, while NIBL Growth Fund (NIBLGF) lost the highest 8.89%.</span></p> <p><span style="font-size:20px">All traded 13 sector indices landed in the red zone, with hydropower experiencing the highest decline of 1.87%, while investment lost the least at 0.53%.</span></p> <p><span style="font-size:20px">Moreover, the Sensitive Index lost 0.82%, while the Float Index and Sensitive Float Index both lost 1.1% and 0.95%, respectively. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17451', 'image' => '20230430053618_collage (3).jpg', 'article_date' => '2023-04-30 17:34:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17716', 'article_category_id' => '1', 'title' => 'Adverse Weather Affects Flights at TIA', 'sub_title' => '', 'summary' => 'Adverse weather conditions have disrupted flights to and from the Tribhuvan International Airport (TIA). Tribhuvan International Office (TIA) said that both domestic and international flights were affected owing to low visibility, caused by rains and wind.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Adverse weather conditions have disrupted flights to and from the Tribhuvan International Airport (TIA). </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Tribhuvan International Office (TIA) said that both domestic and international flights were affected owing to low visibility, caused by rains and wind.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Some international flights were put on hold in the sky due to low visibility and bad weather, according to TIA general manager Pratap Babu Tiwari. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">As a result of bad weather, a Colombo-Kathmandu aircraft of the Sri Lankan Airlines was on hold in the Kathmandu sky for half an hour, and that of Batik Air was on hold in the Simara Sky, Tiwari said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Domestic flights have reported delays in taking off due to bad weather conditions, said the TIA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Rainfall is taking place in most parts of the country with the impact of the Westerly wind and local wind, according to the Meteorological Forecasting Division. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The rain had also affected flights on Saturday afternoon. </span></span></p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17450', 'image' => '20230430041400_collage (2).jpg', 'article_date' => '2023-04-30 16:12:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17730', 'article_category_id' => '1', 'title' => 'Mt Everest Sees Highest Number of Climbers in Seven Decades ', 'sub_title' => '', 'summary' => 'May 2: A record number of climbers are attempting to scale the highest mountain in the world – Mt Everest – during this spring season. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 2: A record number of climbers are attempting to scale the highest mountain in the world – Mt Everest – during this spring season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, a total of 466 climbers from 43 groups have obtained permits to climb Everest. Among them 98 are female and remaining 368 are male, said the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climbers eyeing to scale Everest this season are from 65 different countries including Nepal as per the records of the department. From Nepal, 15 climbers have received permits this season. Similarly, 96 climbers from China have been granted permits followed by 89 from the USA and 40 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 33 from Hungary have acquired climbing permits, 21 from Canada, 18 from Russia and 15 from the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former President of Nepal Mountaineering Association, Ang Tshering Sherpa, opined that the number of climbers obtaining permit from Nepal might have increased considerably as climbing from the Tibet side (northeast ridge route) is not permitted since the outbreak of the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has been 70 years since human first set their feet on top of Mt Everest. Tenzing Norgay Sherpa and Edmund Hillary had successfully reached atop the Everest on May 29, 1953. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since then, around 7,000 national and international climbers have successfully climbed the 8,848.86 metres mountain till date while over 300 have lost their lives attempting to climb the world’s highest peak, according to the department. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, 323 climbers from 44 groups had obtained permission for Everest expedition, informed Bigyan Koirala, officer at the Mountaineering Section of the department. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-02', 'modified' => '2023-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '17464', 'image' => '20230502104644_20220516042550_expedition-in-nepal.jpg', 'article_date' => '2023-05-02 10:43:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17729', 'article_category_id' => '1', 'title' => 'CBFIN Decides to File Case Against Anti-Banking Activities', 'sub_title' => '', 'summary' => 'The Confederation of Banks and Financial Institutions (CBFIN) has decided that it will take legal action against any individual, organization, or group involved in activities that harm the credit and reputation of banks and financial institutions.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 2: The Confederation of Banks and Financial Institutions (CBFIN) has decided that it will take legal action against any individual, organization, or group involved in activities that harm the credit and reputation of banks and financial institutions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a recent working committee meeting held on April 27th. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CBFIN has expressed concern over illegal activities that have been carried out against banks and financial institutions by damaging their assets, credits, and reputation and terrifying employees over a period of time. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As a result, the confederation has decided to take strict legal measures against such actions and register case against them to the appropriate authorities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The press release issued by CBFIN stated that legal action would be taken against individuals, groups, or organizations that damage the reputation, dignity, credibility, or property of the banks and financial institutions and obstruct banking business.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, CBFIN has urged individuals and organizations to avoid engaging in activities prohibited by existing laws, such as creating confusion about banks and financial institutions, and discouraging payment of interest on loans taken from banks.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The press release emphasizes that all banks are united and committed to using the powers conferred by the law to protect the rights and interests of financial institutions' depositors, borrowers, and stakeholders as a whole. </span></span></p> ', 'published' => true, 'created' => '2023-05-02', 'modified' => '2023-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '17463', 'image' => '20230502060128_collage.jpg', 'article_date' => '2023-05-02 05:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17728', 'article_category_id' => '1', 'title' => 'SEBON Grants Letter of Intent to 16 Companies for New Brokerage Licenses', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal (SEBON) has decided that it will grant Letters of Intent (LoI) to sixteen companies for new stock brokerage licenses. The decision was taken by the Board of Directors of the SEBON during a meeting held on Monday morning.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 1: The Securities Board of Nepal (SEBON) has decided that it will grant Letters of Intent (LoI) to sixteen companies for new stock brokerage licenses. The decision was taken by the Board of Directors of the SEBON during a meeting held on Monday morning.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Nabil Securities Limited has been granted the letter of intent to work as a Stock Dealer, while Megha Stock Market Limited has been given the letter of intent to operate as a full-service securities broker in accordance with its application. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Additionally, fourteen other companies have been provided with the letter of intent to operate as limited securities brokers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The SEBON received a total of 46 applications for new broker licenses, including one from an existing broker company. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to Mukti Shrestha, the SEBON spokesperson, the process to grant licenses to the remaining companies will continue. Shrestha clarified that the SEBON is currently assessing the documents submitted by the other companies for new broker licenses.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The companies that have received the letter of intent will be granted licenses after they fulfill the necessary procedures. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Himalaya Brokerage Company, CBIL Securities, KBL Securities, NMB Securities, RBB Securities, Sanima Securities, Index Securities, Sun Securities, Capital Max Securities, Bhole Ganesh Securities, Infinity Securities, Aakash Bhairab Securities, Elite Stock House, and SPSS Securities are the fourteen companies that have been granted the letter of intent to work as limited securities brokers.</span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17462', 'image' => '20230501044008_collage (4).jpg', 'article_date' => '2023-05-01 16:36:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17727', 'article_category_id' => '1', 'title' => 'Ice Cream Produced in Nepal Struggling to Compete with Foreign Brands', 'sub_title' => '', 'summary' => 'May 1: There are currently more than 50 ice cream industries in Nepal.', '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 1: There are currently more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ice cream industries in Nepal. The ice cream they produce is not inferior to foreign brands in any way. However, since the price of foreign products is cheap, the local Nepali products are struggling to find a market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Dozens of flavors of ice cream including vanilla, chocolate, butter scotch, and strawberry are available in the market. In Nepal, there is competition between domestic brands such as Nepal Dairy, DDC, Ajabko, Snowfun, Every Day as well as imported foreign brands of ice cream such as Baskin-Robbins, Vadilal, Amul and Cream Bell.</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"">Traders say that consumers prefer foreign brand ice creams to domestic brands. As a result, retail traders say that Nepali ice cream brands are losing customers as the consumers are looking for imported ice cream.</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 goods we sell are manufactured here. But the consumers go to supermarkets looking for foreign goods. Therefore, even though the demand for ice cream increases during the summer season, Nepali ice cream is not sold much," said a retailer.</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 data of the Department of Customs shows that the import of ice cream has increased in the last five years. In the Fiscal Year (FY) </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">074/75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Nepal imported 412,866 kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">179</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million.</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"">In FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">075/76</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, altogether </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">598,913</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilograms of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">188</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported into Nepal. However, its import decreased in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">076/77. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the Covid-19 pandemic, the ice cream import decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">294</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</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""> kg worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">130</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million in that year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the import of ice cream increased again in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">077/78. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In that year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">341</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">744</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">145</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">078/79</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kg of ice cream worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">268.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million was imported into Nepal.</span></span></span></span></p> <p> </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"">Rajendra Adhikari, spokesperson for Nepal Dairy Development Corporation, says that they are not able to produce ice cream as per the demand due to lack of raw materials for making ice cream. He says that the lack of raw materials has created a situation where ready-made ice cream from outside has to be promoted in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“When there is not enough curd and milk, there is no situation to make ice cream. That is why the import has increased," he said. He claimed that the lack of milk in the domestic market has also cause problems in ice cream production.</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"">Arjun Adhikari, a member of the ice cream department of Nepal Dairy Association and owner of Amul Dairy and Beverage Pvt Ltd, complained that Nepali companies are not getting market due to foreign brands despite the increase in demand for ice cream in summer.</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 says that even though the demand in the market has increased, it is difficult for Nepali brands to compete because of foreign brands.</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 quality of our ice cream is not less than that of foreign countries. However, it is difficult to win the trust of customers because of foreign ice cream. In addition to that, it is difficult for us to compete on price due to the high customs duty on raw materials,” said an office bearer of the association.</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 official, the ice cream trade only lasts from January to August. For the remaining four months, the industry will have to be shut down during the winter season.</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"">'Government needs to bring industry friendly policy'</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"">While the customs duty on readymade ice cream imported from other countries is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, the customs duty on raw materials is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. </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"">“In such a situation, how can domestic companies compete on price?” questioned Prahlad Dahal, president of Nepal Dairy Association.</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"">“In order to save indigenous producers and make the country self-sufficient in ice cream, the government needs to bring an industry-friendly policy,” he added.</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 President Dahal, there are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> small and large ice cream industries in Nepal. These industries produce more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> liters of ice cream on an average day. However, he says that it is difficult for these industries to find the market due to lack of industry-friendly policy of the government.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-04', 'keywords' => '', 'description' => '', 'sortorder' => '17461', 'image' => '20230501020533_ice.jpg', 'article_date' => '2023-05-01 14:04:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17726', 'article_category_id' => '1', 'title' => 'Cooperatives Seek Rs 10 Billion in Concessional Loan from Government', 'sub_title' => '', 'summary' => 'May 1: Operators of cooperatives have asked for financial assistance from the government in the form of concessional loans of Rs 10 billion as they are under mounting pressure due to lack of liquidity.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">May 1: Operators of cooperatives have asked for financial assistance from the government in the form of concessional loans of Rs 10 billion as they are under mounting pressure due to lack of liquidity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">As the return on savings is more than the deposit collection and loan recovery, some cooperatives have reached a situation where they are unable to return even the savings of their members. Stating that this has had a negative impact on the entire cooperative campaign, the National Cooperative Federation, the umbrella body of cooperatives, has requested loan assistance from the government at a concessional interest rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The federation held a press conference and presented a 13-point demand to the government to solve the problems of the cooperatives sector. In the demand letter, the federation has urged for a concessional loan of Rs 10 billion to bail out the cooperatives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The federation has demanded that the Ministry of Home Affairs should immediately issue circulars to all 77 district administration offices to allow the cooperatives to operate smoothly, make arrangements to freeze the property of debtors, give time until mid-July for tax payment, announce a package of cooperative integration, remove the limit of individual savings of Rs 2.5 million, cancel the reference interest rate and arrange automatic interest rate, announce a cooling period of two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">They also demanded that credit information center, debt recovery tribunal, as well as savings and credit protection fund should be established immediately and a second level regulatory body should be formed. Other demands include registration of cooperatives, expansion of scope of work, and end to discrepancies of service centers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Om Devi Malla, senior vice president of the federation and coordinator of the Problem Solving Coordination Committee said that the demand letter has be submitted to the Ministry of Cooperatives, all districts and provinces by April 30 and if the government fails to fulfill their demands, they will go on strike from May 1.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Although the problem of liquidity in banks and financial institutions has been almost resolved, the problems faced by the cooperatives have been increasing. The crisis faced by a handful of cooperatives is having a ripple effect on the entire cooperative sector as people have stated to doubt the cooperatives which in turn might be detrimental to the future of the cooperative sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The government officials are saying that the problem of liquidity has arisen because the cooperatives have indiscriminately invested in unproductive sectors including real estate. The monitoring and reporting of cooperatives has not been possible because the cooperatives now fall under the jurisdiction of the provincial and local levels.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Due to this, even the government does not have actual information about the condition of cooperatives. The Department of Cooperatives of the federal government has proposed to form a study task force to solve the problem. It is said that the proposal of the department has been forwarded to the ministry where it is gathering dust.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17460', 'image' => '20230501020439_cooperative-new.jpg', 'article_date' => '2023-05-01 14:04:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17725', 'article_category_id' => '1', 'title' => 'Resource Management becoming more Challenging for the Government', 'sub_title' => '', 'summary' => 'May 1: The discrepancy between the government’s income and expenditure is on a continuous rise. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 1: The discrepancy between the government’s income and expenditure is on a continuous rise. In ten and a half months of the current fiscal year (FY 2022/23), the gap between the government's income and expenditure has deepened due to the failure in revenue collection as per the target.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Finance, the budget deficit has now reached Rs 300 billion. By mid-April this year, the government met only 50 percent of the annual target of Rs 708 billion. During the same period, the government’s expenditure reached Rs 991 billion, which is 55.27 percent of the target. This makes the budget deficit of the government stand at Rs 283 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the corresponding period of last fiscal year, the total budget deficit of the government was only Rs 53 billion. At that time, the government’s revenue collection was 70 percent of the target while the expenditure was about 54 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat directed the agencies concerned to try to raise the maximum revenue, saying that the target of revenue set for the current year will not be met.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A senior official of the Ministry of Finance said that the officials of the Inland Revenue Department and the Department of Customs have been instructed to mobilize their mechanisms to collect revenue equivalent to that of last year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“There is no situation to raise revenue according to the current year's target, the finance minister has also assessed this situation and asked to raise revenue equivalent to that of last year's,” said the official requesting anonymity. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Due to the pressure on resources management, the government has stopped grants going to the state and local levels. The Ministry of Finance, in a letter to the Financial Comptroller General Office, instructed to halt the equalization grants of Rs 23.13 billion going to the state and local governments. A meeting of the Council of Ministers on April 25 decided to send only 50 percent of the equalization grant to be released in the final installment. According to the cabinet decision, the state governments will get Rs 9.93 billion and the local level will get only Rs 13.20 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Officials of the Ministry of Finance say that although the distribution of salaries and pensions and social security allowances of the employees has not stopped so far, the situation is likely to become challenging in the future due to the pressure on the resources.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last month, due to lack of resources, about 20,000 teachers were not paid their salaries. The finance ministry has been requested to release the budget and the teachers are likely to be paid this month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A few days ago, former Chief Secretary Bimal Koirala had suggested the government on social media to cut expenses. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17459', 'image' => '20230501011628_Budget.jpg', 'article_date' => '2023-05-01 13:15:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17724', 'article_category_id' => '1', 'title' => 'Evaluation Committee Formed to Facilitate Distribution of Stock Exchange License', 'sub_title' => '', 'summary' => 'May 1: The Securities Board of Nepal (SEBON) has decided to form an evaluation committee to make the license distribution process of the new stock exchange more reliable.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 1: The Securities Board of Nepal (SEBON) has decided to form an evaluation committee to make the license distribution process of the new stock exchange more reliable.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A meeting of the board of directors of SEBON held on Sunday morning decided to form the evaluation committee chaired by Phanindra Gautam, joint secretary of the Ministry of Law, Justice and Parliamentary Affairs. Gautam is a member of the board of directors of SEBON representing the ministry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the information shared by SEBON, Ritesh Kumar Shakya and Mukunda Kumar Kshettri are the members of the evaluation committee. Shakya is a member of the Board of Directors of SEBON representing the Ministry of Finance and Kshettri is from Nepal Rastra Bank. SEBON’s Executive Director Muktinath Shrestha and Assistant Executive Director Ambika Giri have been appointed as members of the evaluation committee on behalf of the board.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board had asked for applications from April 13 to April 23 to issue a license to a new stock exchange to the private sector. During the specified period, Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange submitted applications. The board will issue license to only one out of the three companies, which according to SEBON officials is a challenging task. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">SEBON Chairman Ramesh Kumar Hamal said that a license will be given to a company that completes the due processes as per the rules. Although the situation of choosing one company out of three is challenging, Hamal believes that it will be somewhat easier as the license distribution process will proceed based on the report of the evaluation committee.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Hamal, the evaluation committee will study the detailed business plans of the applications received for the license of the new stock exchange. After evaluating the detailed action plan submitted by the three companies, the evaluation committee will determine the order of merit of the applicants and submit it to the Board of Directors. Hamal has made it clear that license will be given to a company that gets the highest marks based on the order of merit.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17458', 'image' => '20230501122226_Sebon-update.jpg', 'article_date' => '2023-05-01 12:21:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17723', 'article_category_id' => '1', 'title' => 'Government Transfers Budget worth Rs 33.3 Billion in a Month', 'sub_title' => '', 'summary' => 'May 1: The government made budget transfer of Rs 33.5 billion including transfer of funds, reallocation of resources and additional disbursements in the Nepali month of Chaitra (mid-March to mid-April) of the current fiscal year.', '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 1: The government made budget transfer of Rs 33.5 billion including transfer of funds, reallocation of resources and additional disbursements in the Nepali month of Chaitra (mid-March to mid-April) of the current fiscal year.</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 details published by the Ministry of Finance shows that the government transferred budget worth Rs 33.35 billion from one sub-heading to another in the review period.</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"">During this period, the Ministry of Finance transferred an amount worth Rs 27 billion to pay internal debts. This amount has been disbursed under the miscellaneous heading. Similarly, the government has transferred an additional amount of Rs 2.8 million under the heading of miscellaneous account for the current expenses of the office of the Gandaki Province chief.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Rs 5 million has been disbursed as extra-time allowance for the employees of the Federal Parliament Secretariat, security personnel and personal secretariat of the parliament officials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has also released Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">3.3 million for the Public Service Commission, and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0 million to the Office of the Prime Minister and Council of Ministers.</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 Ministry of Finance, multi-year contracts were approved for two projects and programs in the review month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has agreed to ensure funds worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">405</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million under the Ministry of Forest and Environment, and Rs 76.2 for the Samakhusi-Tokha-Gujre road project under the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Rs 19 million earmarked by the Ministry of Energy, Water Resources and Irrigation for Budhi Gandaki Hydropower Project has been transferred for river control projects. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, budget of Rs 36.4 million allocated for Palungtar-Kundutar Irrigation Project and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9 million for Irrigation Rehabilitation Project have been transferred for river control projects.</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 Ministry of Physical Infrastructure and Transport has reduced the budget allocated for the North-South Highway Project by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million and transferred the amount to the Kathmandu Valley Road Expansion Project. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17457', 'image' => '20230501115013_finance_ministry_copy1.jpg', 'article_date' => '2023-05-01 11:49:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17722', 'article_category_id' => '1', 'title' => 'Mugu Villagers Living in Darkness for Years ', 'sub_title' => '', 'summary' => 'May 1: Many villages in Mugu district are without electricity for years, affecting the local people in many ways.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Many villages in Mugu district are without electricity for years, affecting the local people in many ways. Lack of power supply means the villagers have to depend on traditional sources of light like 'diyalo' (pine tree wood with resin that produces light when lit), and kerosene lamp. Using traditional means of light has had many health problems for them. </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"">Kumma Lal Budha of Sobhagun of Chhayanath Rara Municipality-12 and his family are relying on diyalo for years. Budha, now 69, is suffering from asthma and eye problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I am suffering from asthma and eye problems as a result of depending on diyalo for years. We are dependent on diyalo since the time of our forefathers,” he said. He has been suffering from asthma for around 25 years as a result of smoke inhalation from diyalo, he claimed. He also has a cataract. Many villagers have been suffering from the disease as a result of using traditional means of lighting, he maintained. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Budha has now lost his hope that he would see electricity during his lifetime. “The village may not get electricity during my lifetime. Even now, we are dependent on diyalo,” he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Smoke emanating from diyalo has been a major factor for elderly people to develop asthma, said an official at Karmarong Rural Municipality. Around 75 percent of elderly people have contracted the disease due to smoke from diyalo, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of around 1,200 households in this rural municipality, 431 lack access to electric power, forcing them to be dependent on diyalo and kerosene lamp. Power generated from 60 kilowatts solar panels set up at Sorukot cannot be enough to illuminate all the villages, said a local Karna Jung Shahi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lack of budget has been a major concern to expand the Nerkhola Hydropower Project and illuminate all the villages, said Dharma Bahadur Shahi, chairperson of the Sorukot Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villagers of Chhayanath Rara Municipality need to visit Gamgadhi bazaar, a half an hour walk from the village, to get their electric gadgets charged, he said. They feel the pain as the Gamgadhi bazaar just across the village has been illuminated with electric power while they have to endure darkness, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Around 165 families of the village have been living in the dark without electricity, said the village authorities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of around 9,000 households in the entire district, approximately 5,000 have been relying on diyalo, according to the latest census. The remaining have got access to electric power and alternative energy. Of the total 2,546 households in Chhayanath Rara Municipality, 1600 have got access to electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villages including Shova, Rowa, Tallekh, Ghattalekh, Salim, Rayangchyakati, Lumsa, Balchaur, Kampha, Baam and Murma are without electric power. The government has yet to expand the national transmission line in the district. The villages that have been illuminated have got power generated from local hydropower projects and alternative energy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the other hand, flooding and landslides have damaged many local hydropower projects, thus cutting off electric power to many villages. The flooding and landslides on 5 October, 2022 swept away 15 micro hydropower projects in Khatyad Rural Municipality, discontinuing electricity to the villagers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Without repair of the damaged projects, around 3,651 households in this rural municipality are forced to rely on kerosene lamp and diyalo, said vice chairperson of the rural municipality, Sarita Rokaya. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Natural disasters damaged 15 micro hydropower projects including Seri, Toli, Kharka, Kerai Chimadungri, Paikhu, Jamirkarkha, Panseri and Raskotibada,” she said. It requires at least Rs 100 million for repairing the hydropower projects. “The rural municipality alone cannot manage budget for the repair. The provincial and federal governments have not been concerned about the matter,” she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals have been affected in many ways without power, she said. School-going children have been affected without electricity, and the locals have been deprived of income generated from electric-run equipment, she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“We are unable to run small industries for lack of electricity,” said a local entrepreneur Lokraj Dahal. The rural municipality is considered to be a pocket area for agricultural products and fruits. Industry that makes concrete blocks, sewing and tailoring shops, bread industry, saw mill and crusher industry could be run in the villages, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Children have been deprived of computer classes without electric power, said a local school teacher, Kamal Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal government two years ago came up with a plan to install 400 kilowatts solar plant in Gamgadhi after the Gamgadh Micro Hydropower Project got obstructed from time to time due to various reasons, said the authorities. However, the project is yet to proceed ahead due to lack of budget, said Dharma Bahadur Shahi, chairperson of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, lawmakers from Karnali Province including Ain Bahadur Shahi have been putting pressure on the authorities concerned to connect Mugu with the national transmission line. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following this, executive director of the Nepal Electricity Authority Kulman Ghising on an occasion pledged to expand the line to the district within mid-July. He made this promise during his visit some seven months ago to Mugu and Humla district to carry out a feasibility study on expanding the transmission line. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17456', 'image' => '20230501101144_murma-surroundings.jpg', 'article_date' => '2023-05-01 10:10:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17721', 'article_category_id' => '1', 'title' => 'Police Arrest Suspect Behind the Murder of Nira Pandey', 'sub_title' => '', 'summary' => 'May 1: Police have arrested a person suspected of killing Nira Pandey Acharya in Saraswatinagar, Kapan about two weeks ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Police have arrested a person suspected of killing Nira Pandey Acharya in Saraswatinagar, Kapan about two weeks ago.</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"">According to the police, thirty-five-year-old Pandey, who ran a kitchen supply store at Sarswatinagar of Kapan, was stabbed to death on April 20 by Binod BK, a local resident of Mechi Municipality-10 in Jhapa district and currently residing at Lokanthali of Bhaktapur Municipality-1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eleven days after the murder, the police on Sunday made public the alleged murderer amid mounting pressure to resolve the case of broad daylight murder.</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"">Police investigations have revealed that BK murdered Pandey with a motive of robbery.</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 Central Investigation Bureau (CIB) of Nepal Police however said that further investigation is underway and they are trying to find out if there were any other motives besides robbery.</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"">Organising a press conference at the CIB office in Maharajgunj on Sunday, the police said they arrested BK from Jhapa on Saturday.</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"">Senior Superintendent of Police (SSP) Dinesh Acharya of CIB shared that BK has already confessed to the crime. The police added that BK stabbed Pandey multiple times with a kitchen knife when she tried to resist him during the robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, BK used to work in a casino and later as a bouncer. After he got into debt and was rendered cash-strapped, he started robbery to make easy money.</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"">BK robbed a gold chain and cash from Pandey’s shop after the murder and was hiding in Bhaktapur for a week after the incident. He then left for Jhapa where he was arrested along with the clothes, shoes and bag used by the alleged murderer during the incident. </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"">During the investigation, police suffered an initial setback as the CCTV cameras in the vicinity were not functional. The police then studied the video footages of the surrounding areas to identify the culprit. Police investigation also ruled out domestic violence as the reason behind the murder.</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"">Pandey was found lying unconscious in a pool of blood in her shop hours after the incident on April 20. The incident occurred in the afternoon when very few customers visit shops.</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"">Severely injured by the stabbing, Nira was rushed to the TU Teaching Hospital, Maharjgunj, where she was declared dead by the doctors. </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"">Pandey, who is originally from Baglung, was living in a rented flat with her husband nearby. Her husband had an electronics shop in the ground floor of the house where the couple stayed. Their rented room and electronic shop were just a few minutes’ walk away from her shop. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17455', 'image' => '20230501093916_nepal police.jpg', 'article_date' => '2023-05-01 09:38:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17720', 'article_category_id' => '268', 'title' => 'Cost of Import of Food Items Via Birgunj Customs Office Doubles ', 'sub_title' => '', 'summary' => 'Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 1: Despite a decline in the import of most food items, Nepal has witnessed a more than two-fold increase in the cost of the import of food items via the Birgunj Customs Office during the first nine months of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Information officer Ramchandra Dhakal, Nepal has imported food items worth NPR 28.91 billion during this period, whereas only NPR 12.18 billion was spent on the import of food items during same period in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, the import of paddy has taken the lead. Traders have increased the import of paddy after India fixed a quota of 6 lakh tons. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As most of the rice mills in Nepal rely on imported paddy from India, Nepal imported 2,88,000 tons of paddy in nine months through the Birgunj customs point. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This amount has risen significantly from 1,93,000 tons of paddy imported during the same period in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the import of other food items, except paddy, has decreased. Import of rice has fallen to 30,000 tons worth NPR 2.35 billion compared to the previous fiscal year's import of 37,000 tons worth NPR 2.37 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the import of maize has decreased by 20 percent to 62,658 tons worth NPR 10.61 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The imposition of a quota system by India on wheat export has resulted in an 83 percent decline in wheat import, which has adversely affected the production of domestic industries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Only 3,472 tons of wheat were imported via the Birgunj customs office during the first nine months of the current fiscal year compared to 20,422 tons during the same period last fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Import of other food items such as millet has also decreased.</span></span></p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17454', 'image' => '20230501072052_collage (6).jpg', 'article_date' => '2023-05-01 07:18:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17719', 'article_category_id' => '1', 'title' => '1.3 Million Hectares of Arable Land Left Barren, Says Agriculture Minister', 'sub_title' => '', 'summary' => 'Minister for Agriculture and Livestock Development, Dr Beduram Bhusal, has said that 1.3 million hectares of cultivable land in Nepal has been left barren.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">May 1: Minister for Agriculture and Livestock Development, Dr Beduram Bhusal, has said that 1.3 million hectares of cultivable land in Nepal has been left barren. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaking at an event commemorating the 73rd anniversary of the All Nepal Peasants' Federation in Kathmandu on Sunday, the Minister emphasized the importance of utilizing this land to increase agricultural production.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Furthermore, Minster Bhusal announced that the forthcoming annual budget and policies would provide incentives to farmers, acknowledging that the agriculture sector has been neglected due to several issues. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Bhusal revealed that the current budget allocation of Rs 51 billion for the Agriculture Ministry has been mostly allocated towards buying chemical fertilizers, with only a small portion allotted to local and provincial levels and government employees. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">As a result, the Minister emphasized the need for additional funding to assist farmers and boost the agriculture sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">In addition, Minister Bhusal underscored the importance of providing timely access to chemical fertilizers, seeds, irrigation, tools, and infrastructure to maximize agricultural benefits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister expressed the government's commitment to ensuring food sovereignty and shared that regulations were being drafted to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">At the same event, Bhairav Regmi, leader of the peasant movement, expressed hope that the government would address the 62-point demand they submitted to safeguard peasants' rights. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Balram Banskota, Chairman of the All Nepal Peasants' Federation, highlighted that the development of agriculture is a prerequisite to the country's progress.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-01', 'modified' => '2023-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '17453', 'image' => '20230501061137_collage (4).jpg', 'article_date' => '2023-05-01 06:06:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17718', 'article_category_id' => '1', 'title' => 'NRB Revises Ceiling for Exchange of US Dollar', 'sub_title' => '', 'summary' => 'April 30: Nepal Rastra Bank (NRB) has increased the ceiling for the exchange of the US dollar.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">April 30: Nepal Rastra Bank (NRB) has increased the ceiling for the exchange of the US dollar. Revising the Integrated Circular, 2079 BS issued for the bank and financial institutions on Friday, the central bank increased the ceiling for the exchange of the US dollar. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Prior to this, NRB-licensed money changers were allowed to make an exchange of USD 500 with a Nepali citizen. Now such a ceiling has been raised up to US$ 5,000. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">However, the revised provision will not be applicable for the amount received as gifts and tips from foreign friends and clients. The revised provision is to facilitate the currency exchange for Nepali students going for abroad studies meeting all the required procedures. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, the provision related to the convertible foreign currency which the foreigners working in Nepal can take home has also been amended. A new provision has been added for foreign citizens working in airlines companies providing service in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the new provision, foreign citizens working in airline companies in Nepal can convert a maximum of 70 percent of their salary, after paying taxes, into foreign currency and send the money to their respective country provided that they have taken labour permits and the term of service is still active. In case of Indian citizens, they can convert their salary into Indian currency. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17452', 'image' => '20230430063918_dollar.jpg', 'article_date' => '2023-04-30 18:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17717', 'article_category_id' => '1', 'title' => 'NEPSE’s Fall Continues; All Sectors Land in Red ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continued its downward trend for the third consecutive trading day on Sunday. ', 'content' => '<p><span style="font-size:20px">April 30: The Nepal Stock Exchange (NEPSE) Index continued its downward trend for the third consecutive trading day on Sunday. </span></p> <p><span style="font-size:20px">The NEPSE Index dropped by 19.11 points or 1.1% and settled at 1870.65 points on the first trading day of the week. The Index lost a total of 35 points in three trading days.</span></p> <p><span style="font-size:20px">Experts have attributed the persistent downturn in the stock market to the ongoing financial crisis faced by the country. Investors have expressed concerns and called for policy-level changes to boost their confidence and investment capacity.</span></p> <p><span style="font-size:20px"> A veteran investor noted that the lack of liquidity in the market has further dampened investors' confidence.</span></p> <p><span style="font-size:20px">During the trading day, a total of 271 scrips exchanged hands via 26,801 transactions, resulting in a turnover of Rs. 95.43 crores, which is higher than the previous trading day's turnover of Rs. 73.96 crores. </span></p> <p><span style="font-size:20px">Shivam Cements Limited (SHIVAM) had the highest turnover of Rs. 4.25 crores, closing at a market price of Rs. 405 per share. The shares of NIMB were the most traded.</span></p> <p><span style="font-size:20px">NMB Sulav Investment Fund - 2 (NSIF2) gained the highest 3.33% for the day, while NIBL Growth Fund (NIBLGF) lost the highest 8.89%.</span></p> <p><span style="font-size:20px">All traded 13 sector indices landed in the red zone, with hydropower experiencing the highest decline of 1.87%, while investment lost the least at 0.53%.</span></p> <p><span style="font-size:20px">Moreover, the Sensitive Index lost 0.82%, while the Float Index and Sensitive Float Index both lost 1.1% and 0.95%, respectively. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17451', 'image' => '20230430053618_collage (3).jpg', 'article_date' => '2023-04-30 17:34:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17716', 'article_category_id' => '1', 'title' => 'Adverse Weather Affects Flights at TIA', 'sub_title' => '', 'summary' => 'Adverse weather conditions have disrupted flights to and from the Tribhuvan International Airport (TIA). Tribhuvan International Office (TIA) said that both domestic and international flights were affected owing to low visibility, caused by rains and wind.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Adverse weather conditions have disrupted flights to and from the Tribhuvan International Airport (TIA). </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Tribhuvan International Office (TIA) said that both domestic and international flights were affected owing to low visibility, caused by rains and wind.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Some international flights were put on hold in the sky due to low visibility and bad weather, according to TIA general manager Pratap Babu Tiwari. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">As a result of bad weather, a Colombo-Kathmandu aircraft of the Sri Lankan Airlines was on hold in the Kathmandu sky for half an hour, and that of Batik Air was on hold in the Simara Sky, Tiwari said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Domestic flights have reported delays in taking off due to bad weather conditions, said the TIA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Rainfall is taking place in most parts of the country with the impact of the Westerly wind and local wind, according to the Meteorological Forecasting Division. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The rain had also affected flights on Saturday afternoon. </span></span></p> ', 'published' => true, 'created' => '2023-04-30', 'modified' => '2023-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '17450', 'image' => '20230430041400_collage (2).jpg', 'article_date' => '2023-04-30 16:12:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, '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
