March 20: A police raid on an industry in Adarshan Nagar of Birgunj on the charge of evading customs duty has drawn widespread criticism.…
March 20: A police raid on an industry in Adarshan Nagar of Birgunj on the charge of evading customs duty has drawn widespread criticism.…
March 20: In the first eight months of the current fiscal year, more than 250 borrowers of microfinance companies have been blacklisted by the Credit Information…
March 20: The government has sought feedback and suggestions from all stakeholders on the revenue policy to be included in the financial act for the upcoming fiscal…
March 20: With the onset of the spring season, which is considered ideal for mountain expedition in Nepal, the Department of Tourism has started issuing climbing permits to the…
March 20: Prime Minister Pushpa Kamal Dahal is taking vote of confidence from the House of Representatives today (March…
March 20: The country is currently witnessing the impacts of the westerly winds along with the local wind system. It has resulted in partial to general changes in weather situation across the…
The number of youths who received labour permits for foreign employment has crossed 5,00000 in the eight months of the current fiscal…
Chief Executive Officer Suyog Shrestha of Shangrila Development Bank has been unanimously elected as the Chairman of Development Bankers Association Nepal. DBAN’s 17th Annual General Meeting held in Chitwan unanimously appointed Suyog Shrestha as the Chairman of the association on March…
March 19: The business through QR transaction is increasing in recent years.…
March 19: Snowfall has been reported for the first time in Dhorpatan of Baglung this year.…
March 19: In 2018 and 2019, tourists came to Nepal in huge…
March 19: The price of gold has set a new record after an increase in the price of the precious yellow metal by Rs 2900 per tola (11.66 grams) on…
March 19: Lack of chemical fertilizers is a major problem in Nepal, an agricultural country.…
…
Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar…
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', '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"">March 20: A police raid on an industry in Adarshan Nagar of Birgunj on the charge of evading customs duty has drawn widespread criticism. After the police failed to find the evidence of revenue evasion, they forwarded the matter to the Revenue Investigation Department. </span></span></span></span></p> <p><span style="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 police opened the seal on the industry after three days. The next day, at the request of the police, a team from the Revenue Investigation Office, Pathalaiya raided the industry and took possession of the documents, raw materials and samples of ready-made products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the instructions of the District Police Office, Parsa, Ward Police Office Birta raided Sweet Mart Food Industries located in Birganj-</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""> Adarshnagar on March 9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The police claimed that they received information about suspicious dealings related to the customs duty on the raw materials (and gum) used by the chewing gum industry. The Revenue Investigation Department has now started the investigation on the allegation of revenue evasion by the industry by maintaining different customs tariff rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Superintendent of Police (SP) Komal Shah of Parsa said that the revenue investigation is being carried out by the Revenue Investigation Department - the agency responsible for investigation of revenue leakages. </span></span></span></span></p> <p><span style="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 investigation is being carried out in coordination with the police and Revenue Investigation Department,” said SP Shah. He said that now it is the job of the department to determine whether or not it is a valid issue.</span></span></span></span></p> <p><span style="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 revenue investigation officer says that the department and the police should have conducted the raids jointly, but the police arrived first and spoiled the process.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Niranjan Agarwal, the owner of the industry, claims that the raw materials have passed the inspection and there was no kind of revenue fraud. He claimed that there could not be any leakage as the inspection will be passed only after the physical examination of documents and related items by the customs 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"">Agarwal said that he was acquitted by the court even four</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">years ago when the police filed a case against him on the charge of copyright infringement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"I have not cheated any kind of revenue. There are three other industries in Birgunj that I import in the same way. However, the police have repeatedly discouraged me," he complained. Out of the eight chewing gum manufacturing industries in Nepal, three are in Birgunj. Agarwal said that all the industries are importing raw materials with the same process and customs rate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17056', 'image' => '20230320014356_1679267216.jpg', 'article_date' => '2023-03-20 13:43:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17320', 'article_category_id' => '1', 'title' => '260 Borrowers of Microfinance Companies Blacklisted in Eight Months', 'sub_title' => '', 'summary' => 'March 20: In the first eight months of the current fiscal year, more than 250 borrowers of microfinance companies have been blacklisted by the Credit Information Center.', '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"">March 20: In the first eight months of the current fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">250</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> borrowers of microfinance companies have been blacklisted by the Credit Information Center. The number of borrowers who are blacklisted by the center has increased at a time when the movement of non-payment of loans is intensifying in the context that microfinance companies are charging high interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the directives of Nepal Rastra Bank (NRB), the microfinance companies have started exchanging loan investment information with the center from the current fiscal year (FY). There is a provision that microfinance institutions should recommend blacklisting borrowers who default on loans of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000. If the organization wants, they can also recommend blacklisting borrowers who take loans of less than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000.</span></span></span></span></p> <p><span style="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 this arrangement, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">260</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> borrowers were blacklisted between mid-July to mid-February on the recommendation of microfinance companies. According to the data published by the center, only one debtor was in the blacklist in the first month of the current fiscal year (mid-July to mid-August) and three in the second month (mid-August to mid-September), and since then it has been increasing. </span></span></span></span></p> <p><span style="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 center informed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> debtors were blacklisted in mid-September to mid-October, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-October to mid-November, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">53</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-November to mid-December, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">97</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-December to mid-January, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-January to mid-February and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-February to mid-March.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">People who are blacklisted by the information center cannot open accounts and take loans from banks and financial institutions. There is a provision that the concerned organization should recommend to the information center to remove the blacklisted person from the blacklist after paying the entire interest of the loan.</span></span></span></span></p> <p><span style="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 eliminate the duplication of credit and credit abuse seen in microfinance, the central bank had instructed microfinance institutions to become members of the center two years ago and exchange information. Accordingly, there is a provision that microfinance must obtain credit information from the center about borrowers/customers before disbursing loans, renewing old loans, restructuring or rescheduling loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prakash Raj Sharma, president of the Microfinance Bankers Association, said that as per the instructions of the central bank, all microfinance institutions are members of the information center and are exchanging information on loan investments. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Now we send all microfinance loans to the information center," he said, "Since all the institutions started exchanging information, the number of bad borrowers in the blacklist has also started to increase."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Non-performing loans of organizations are increasing as the recovery of microfinances is affected due to the movement started with the demand of loan waiver following the decline in the ability of the customers to pay the loan installments. </span></span></span></span></p> <p><span style="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 NRB, the non-performing loans of microfinance institutions reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent by the second quarter of the current year. Until a year ago, the non-performing loans of microfinance companies was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.94</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"">At present, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> microfinance institutions have formed </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> groups and are providing financial services to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,988,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. Among them, </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"">.</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 members have taken loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By creating a group of poor and disadvantaged people who do not have access to banks and financial institutions, microfinance has been giving loans from the collective deposits and without collateral. Microfinance institutions are allowed to invest up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 per member in collective deposits and up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million by keeping property as collateral.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the microfinance institutions are being criticized for lending more than they need to the needy and being unable to repay them. Keeping this in mind, the central bank has issued instructions on February 22 that a person can take loans from only one institution and those who have taken a loan from a microfinance company cannot take loans from banks and financial institutions.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-21', 'keywords' => '', 'description' => '', 'sortorder' => '17055', 'image' => '20230320012334_badloan.jpg', 'article_date' => '2023-03-20 13:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17319', 'article_category_id' => '1', 'title' => 'Government Seeks Suggestions and Feedback on Revenue Policy ', 'sub_title' => '', 'summary' => 'March 20: The government has sought feedback and suggestions from all stakeholders on the revenue policy to be included in the financial act for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 20: The government has sought feedback and suggestions from all stakeholders on the revenue policy to be included in the financial act for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Ministry of Finance has appealed to all concerned to provide their feedback by April 3 on matters concerning customs duty, value added tax, income tax, excise duty, non-tax revenue, and revenue leakage control. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice was issued by the Revenue Advisory Committee, which has been working as a mechanism to give feedback and suggestions on revenue management to the government. Based on suggestions and feedback received from various quarters, the committee will submit a report to the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Suggestions are also being sought on enacting new tax laws, repealing if necessary any legal provisions and changing tax rates. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Finance also informed that nine different thematic sub-committees have been formed to prepare the report of the Revenue Advisory Committee. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17054', 'image' => '20230320124417_finance_ministry_copy1.jpg', 'article_date' => '2023-03-20 12:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17318', 'article_category_id' => '1', 'title' => 'Government Starts Issuing Climbing Permits for Spring Season', 'sub_title' => '', 'summary' => 'March 20: With the onset of the spring season, which is considered ideal for mountain expedition in Nepal, the Department of Tourism has started issuing climbing permits to the tourists.', '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"">March 20: With the onset of the spring season, which is considered ideal for mountain expedition in Nepal, the Department of Tourism has started issuing climbing permits to the tourists. As of Sunday, 50 climbers from 25 countries have already received permits.</span></span></span></span></p> <p><span style="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 notification issued by the Department of Tourism on Sunday, the foreigners have taken permission to climb Annapurna-1, Surma Sarovar, Pangri Goldumba, Manaslu and Thorong Peak. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among them, 17 are women and 33 are men. According to the department, so far most people have taken permission to climb Annapurna-1. A total of 34 people, including 12 women, have received permission to climb the mountain.</span></span></span></span></p> <p><span style="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 department has collected revenue worth Rs 12.89 million from issuing the climbing permits. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Climbers from Australia, Austria, Brazil, British Virgin Island, Bulgaria, Canada, China, France, Georgia, India, Ireland, Japan, Macedonia, Norway, Pakistan, Poland, Qatar, Romania, Russia, Serbia, Singapore, South Korea, Spain, Britain and the United States have taken permission for the spring 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"">Ascent of Mount Everest is preferred more in the spring season when the weather is more favourable. Nepal collects the most revenue from Mount Everest. A mountaineer must complete the ascent within 75 days after the department issues climbing permit.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17053', 'image' => '20230320113850_1679267152.jpg', 'article_date' => '2023-03-20 11:37:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17316', 'article_category_id' => '1', 'title' => 'PM Dahal Taking Vote of Confidence Today ', 'sub_title' => '', 'summary' => 'March 20: Prime Minister Pushpa Kamal Dahal is taking vote of confidence from the House of Representatives today (March 20). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 20: Prime Minister Pushpa Kamal Dahal is taking vote of confidence from the House of Representatives today (March 20). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal is taking vote of confidence from the parliament (lower house) for the second second time after becoming the prime minister following the November 20 election. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Spokesperson of the Parliament-Secretariat Dasharath Dhamala informed that Prime Minister Dahal is scheduled to take vote of trust from the HoR meeting which will convene at 1.00 pm today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A situation was emerged for the PM to secure vote of confidence with the erstwhile ruling coalition partners, CPN-UML and Rastriya Prajatantra Party, quitting the government regarding the dispute over the candidates for the post of president and vice-president. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a constitutional provision that the prime minister should take vote of confidence within 30 days after political parties supporting the government withdraws the support. In consistent with the provision, the incumbent prime minister has to take vote of confidence within March 26. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that Chairperson of CPN (Maoist Centre) Pushpa Kamal Dahal was appointed the prime minister of Nepal on December 25, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first innings, Dahal had secured over 99 percent vote of confidence from the parliament on January 11, 2023. The partners of new coalition formed of late in the context of presidential and vice-presidential elections have agreed to give vote of confidence to PM Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with CPN (Maoist Centre), Nepali Congress, Rastriya Swatantra Party, Janata Samajwadi Party, Unified Socialist, Janamat Party, Loktantrik Samajwadi Party, Nagarik Unmukti Party and Rastriya Janamorcha among others are expected to support PM Dahal in securing vote of confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal needs 138 votes for securing trust from the parliament. In the HoR, Maoist Centre has 32 members, Nepali Congress (88), RSP (19), JSP (11), Socialist (10), Janamat Party (6), LSP (4), Nagarik Unmukti (4) and Janamorcha (1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, UML has (79), RPP (14), independent (2), Nepal Peasants Workers Party (1) and Aam Janata Party (1) in the HoR. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17052', 'image' => '20230320105431_6F8A9729 - Copy.jpg', 'article_date' => '2023-03-20 10:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17317', 'article_category_id' => '1', 'title' => 'Westerly Winds Bring Rainfall and Thunder across the Country ', 'sub_title' => '', 'summary' => 'March 20: The country is currently witnessing the impacts of the westerly winds along with the local wind system. It has resulted in partial to general changes in weather situation across the country. ', '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 Unicode MS","sans-serif"">March 20: The country is currently witnessing the impacts of the westerly winds along with the local wind system. It has resulted in partial to general changes in weather situation across 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:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Weather Forecasting Division, rainfall with thunderstorms and lightning is now occurring in some parts of Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces. </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 Unicode MS","sans-serif"">Later in the afternoon today (March 20), light to moderate rainfall with thunders and lightning is predicted in some mountainous areas of Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces. Likewise, there will be general to complete changes in the weather system during the day today. </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 Unicode MS","sans-serif"">There are chances of rainfall with thunders and lightning in some areas of mountainous belt and Terai region tonight, according to weather forecasting bulletin published by the division. </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 Unicode MS","sans-serif"">Kathmandu Valley has witnessed general changes since early morning today. There is a possibility of light rainfall in Kathmandu in the afternoon. </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 Unicode MS","sans-serif"">This winter, most of the country had less than average rainfall. Except far western Nepal, most of the parts of the country received delayed rainfall during winter. According to the Department of Hydrology and Meteorology, the country received the lowest precipitation this winter in the last 14 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 Unicode MS","sans-serif"">The department further stated that pre-monsoon has started from March 1 with the exit of winter. The pre-monsoon period is characterized by thunder and lightning coupled with gusty winds and the possibility of hailstone and rain towards the afternoon. The pre-monsoon period will last for three months. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17051', 'image' => '20230320110708_rainnnnnnnnn.jpg', 'article_date' => '2023-03-20 11:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17315', 'article_category_id' => '1', 'title' => 'Over 5,00000 Labour Permits Issued In Eight Months ', 'sub_title' => '', 'summary' => 'The number of youths who received labour permits for foreign employment has crossed 5,00000 in the eight months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px">March 20: The number of youths who received labour permits for foreign employment has crossed 5,00000 in the eight months of the current fiscal year. </span></p> <p><span style="font-size:18px">Data at the Department of Foreign Employment show that as many as 5,40,675 youths obtained labour permit for foreign employment in the eight months of the current fiscal year.</span></p> <p><span style="font-size:18px">This is 33 per cent more than the last year’s labour permits issued by the departmnet during the same period. The Department of Foreign Employment had issued 4,04,963 labour permits duirng the same period last fiscal year.</span></p> <p><span style="font-size:18px">The total number of labour permits issued by the department for foreign employment was 6,30,090 last fiscal year. The Department of Foreign Employment estimates that the number will increase this fiscal. </span></p> <p><span style="font-size:18px">“Department of Foreign Employment estimates labour permits around 7,00000 to 8,00000 will be issued for foreign employment in the current fiscal year,” said Director General Umakant Acharya of the department.</span></p> <p><span style="font-size:18px">Acharya said trend of people going for foreign employment post-COVID-19 pandemic has increased. “Malaysia has increased the salary of labourers, which has led to the rise of people obtaining labour permit,” Acharya said.</span></p> <p><span style="font-size:18px">As per the department, Malaysia is the most preferred destination among Nepali youths for foreign employment. A total of 19,842 persons received the labour permit for Malaysia the last month alone. Likewise, the department issued 11,303labour permits for Qatar. </span></p> <p><span style="font-size:18px">For foreign employment in UAE, 9,795 took the labour permit while 9,503 received the permit for foreign employment in Saudia Arabia in the last month alone.</span></p> <p><span style="font-size:18px">According to Acharya, the number of youths receiving labour permits for foreign job in European countries such as Malta, Turkey, Romania, Croatia is also increasing. In the last month alone, the department issued 1070 labour permits for Romania, 557 for Croatia, 21 for Turkey and 282 for Malta.</span></p> <p><span style="font-size:18px">A total of 63,029 individuals received labour permits for foreign job in the first month of the current fiscal year while 76,403 Nepalis obtained permits for foriegn employment in the second month.</span></p> <p><span style="font-size:18px">Likewise, the department issued as many as 62,706, 78370, 68564, 65464, 64,284 and 61,000 labour permits in the third, fourth, fifth, sixth, seventh and eighth months of the current fiscal year.</span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17050', 'image' => '20230320070419_collage (29).jpg', 'article_date' => '2023-03-20 06:38:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '17314', 'article_category_id' => '218', 'title' => 'Shangrila Development Bank’s CEO Shrestha Elected Chairman of DBAN ', 'sub_title' => '', 'summary' => 'Chief Executive Officer Suyog Shrestha of Shangrila Development Bank has been unanimously elected as the Chairman of Development Bankers Association Nepal. DBAN’s 17th Annual General Meeting held in Chitwan unanimously appointed Suyog Shrestha as the Chairman of the association on March 17. ', 'content' => '<p><span style="font-size:18px">March 19: Chief Executive Officer Suyog Shrestha of Shangrila Development Bank has been unanimously elected as the Chairman of Development Bankers Association Nepal. DBAN’s 17th Annual General Meeting held in Chitwan unanimously appointed Suyog Shrestha as the Chairman of the association on March 17. </span></p> <p><span style="font-size:18px">Likewise, Mahalaxmi BikasBank’s Chief Executive Officer Bodhraj Devkota has been appointed Vice-chair of the DBAN. Sindhu Bikas Bank’s CEO Ram Kumar Giri, and Lumbini Bikas Bank’s CEO Naresh Singh Bohora have been elected as Secretary and Treasurer respectively.</span></p> <p><span style="font-size:18px">Other members of the DBAN include Shine Resunga Development Bank’s CEO Prakash Poudel, Jyoti Bikash Bank’s CEO Shree Chandra Bhatt and Excel Development Bank’s CEO Dr Indra Kattel. </span></p> <p><span style="font-size:18px">Newly-elected DBAN Chairman Shrestha pledged to work for the rights and welfare of the development banks. “Though the number of development banks has fallen from 90 to 17, development banks’ market occupancy has not dropped. We will have to work together to do more and better in the days to come,” Shrestha added. </span><br /> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17049', 'image' => '20230319053835_collage - 2023-03-19T173455.828.jpg', 'article_date' => '2023-03-19 17:36:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17313', 'article_category_id' => '1', 'title' => 'Payments through QR Code Increasing', 'sub_title' => '', 'summary' => 'March 19: The business through QR transaction is increasing in recent years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">March 19: The business through QR transaction is increasing in recent years. QR transactions have increased notably after the Nepal Rastra Bank (NRB) implemented a system of free payment through QR code.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Nowadays, payments are made through QR for buying vegetables to paying college fees, paying insurance fees, making offerings to temples among others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the central bank, financial transactions through QR code in the first seven months of the current fiscal year stood at Rs 117.46 billion. The transaction this year is 179.21 percent more than that in the same period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the corresponding period of last fiscal year, the turnover from QR transactions was Rs 42.7 billion. In the fiscal year 2077/78, the turnover from QR was Rs 20.28 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Guru Prasad Paudel, executive director of the Payments System Department of the NRB, says that the business is increasing after the central bank implemented the policy of free payment through QR.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“At present, more than 1.6 million merchants have QR stands across the country. Therefore, it seems that in the near future, the business through QR will increase even more,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Manoj Mehta, Chief Executive Officer of My-Pay, says that although the business through QR has increased, most of the businesses are concentrated only in the Kathmandu Valley.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, he argues that it is necessary to bring a policy that all kinds of payments made in government offices should be made only through QR to encourage business through QR throughout the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As the internet is mandatory to pay through QR, users are forced to pay using the mobile data at a high cost.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Therefore, it seems that if we give some concessions on the Internet when making payments through QR, the business will increase,'' says Mehta.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17048', 'image' => '20230319043337_1679054370.jpg', 'article_date' => '2023-03-19 16:33:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17309', 'article_category_id' => '1', 'title' => 'Tourists Stranded in Dhorpatan due to Snowfall', 'sub_title' => '', 'summary' => 'March 19: Snowfall has been reported for the first time in Dhorpatan of Baglung this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">March 19: Snowfall has been reported for the first time in Dhorpatan of Baglung this year. After a long period of drought, snowfall occurred here since Saturday night along with rain. The chilling cold has increased due to the snowfall. Shyamalal Ghimire, a local hotelier, said that Dhorpatan valley has been covered in a white blanket of snow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">It has been reported that the snowfall has made life difficult for the locals. Ghilmire said that the mobile network did not work on Saturday night due to the snow and it started working after the sun rose on Sunday morning. According to Ghimire, locals and tourists coming down from Dhorpatan to Burtibang were stranded at Dhorpatan after the road was blocked by snow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Yesterday, a bus full of tourists came from Butwal but they could not travel ahead of Faleghar due to snow, later they were brought by a pick-up", said Ghimire, "Now the sun is shining, the snow is slowly melting, all the roads will be opened soon."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Another local Kul Bahadur BK said that it was difficult to feed the horses and livestock due to the snowfall. Last year it snowed four to five times in January and February, but this year it snowed for the first time in Dhorpatan valley, said BK. -- RSS</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17047', 'image' => '20230319034655_dhorpatann.jpg', 'article_date' => '2023-03-19 15:46:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17308', 'article_category_id' => '1', 'title' => 'Per Day Spending of Tourists Estimated to Increase to USD 100', 'sub_title' => '', 'summary' => 'March 19: In 2018 and 2019, tourists came to Nepal in huge numbers.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">March 19: In 2018 and 2019, tourists came to Nepal in huge numbers. Compared to those two years, although the number of tourists was less in 2020, the daily expenditure of tourists was more. According to the data of the Nepal Tourism Board, a total of 230,085 tourists came to Nepal in 2020. In that year, each tourist spent an average of US dollar 65 per day.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In previous years, a tourist spent an average of USD 48 per day, according to the data. In 2019, 1.1 million foreign tourists visited Nepal. According to the board's data, the average cost per tourist per day back then was US dollar 48.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The lockdown started in Nepal from April 2020. Tourists coming to Nepal in 2020 had spent more time than other years. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the experts, the spending of tourists coming to Nepal was high due to the increase in the duration of their stay and food expenses, even though the number of tourists was low. The Nepal Tourism Board has estimated that the rate of daily spending by foreign tourists in Nepal may have reached USD 100 in 2022.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"A survey is being conducted to see how much the tourist's expenses have increased," Maniraj Lamichhane, the director of the board, said. To further confirm this, a sample survey has been started by creating a questionnaire.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, this survey includes questionnaires such as the expenses incurred when coming to Nepal by purchasing a package tour, whether the package was purchased through a hotel, how much was spent on transportation, and on food.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">These questions will be asked to tourists at the airport. Tourists are also involved in activities outside the package. He expects that the rate of expenditure will increase as expenses other than packages are also counted in the current survey.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank is currently estimating the expenditure of tourists on the basis of foreign currency exchange of the hotel and accommodation sector. Now, a separate survey will be conducted to cover data on expenditure made by tourists in informal areas of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tourists also spend money in small tea shops that are operating without registration along the trekking route. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"That amount is not counted in expenditure," he said, "At present, how much has been spent in which area does not appear in the database. In the upcoming survey, the data will be collected by questioning the sources of spending by tourists.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deepakraj Joshi, the former chief executive officer of the board, said that the expenditure of tourists has recently increased. After the Covid, natural destinations have become the choice of tourists.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that although the overall income will increase with the rise in arrival of tourists, per day spending of tourist on average will not increase. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the number of tourists increases, the average amount spent has decreased in some cases," Joshi said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, most of the money spent on the tourist packages to Nepal will be spent on tickets.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also suggested that in the current competitive situation, the state should pay attention to increase new activities and services and increase the expenditure. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17046', 'image' => '20230319025557_Tourist.jpg', 'article_date' => '2023-03-19 14:53:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17307', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches All-time High at Rs 110,000 Per Tola', 'sub_title' => '', 'summary' => 'March 19: The price of gold has set a new record after an increase in the price of the precious yellow metal by Rs 2900 per tola (11.66 grams) on Sunday.', 'content' => '<h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 19: </span></span></span></span><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The price of gold has set a new record after an increase in the price of the precious yellow metal by Rs 2900 per tola (11.66 grams) on Sunday. </span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Association, the price of gold on Sunday has been set at Rs 110,000 per tola. Last Friday, the price of gold was Rs 107,100 per tola.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The last time the price of gold reached the highest ever was on February 12, when the price was recorded at Rs 107,500 per tola, according to the Federation of Gold and Silver Dealers Association.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Since then, the price of gold has been fluctuating.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last few days, the price of gold has been constantly on the rise. Last week, the price of gold increased by Rs 3,600 per tola.</span></span></span></span></h1> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17045', 'image' => '20230319013942_gold newwww.jpg', 'article_date' => '2023-03-19 13:38:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17306', 'article_category_id' => '1', 'title' => 'Call for Establishing Fertilizer Factory in Nepal', 'sub_title' => '', 'summary' => 'March 19: Lack of chemical fertilizers is a major problem in Nepal, an agricultural country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 19: Lack of chemical fertilizers is a major problem in Nepal, an agricultural country. After the government cut the subsidy given to farmers for the purchase of chemical fertilizers a few days ago, farmers are protesting saying that there will be more problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, the issue of opening a fertilizer factory in Nepal has come up time and again for a long-term solution to this problem.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders are divided on whether to open nitrogen-based fertilizer factory (urea production industry) or phosphate blending based fertilizer factory (balanced fertilizer industry) on the other side. Stakeholders say that it is more appropriate to establish a factory based on phosphate blending for a country like Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, central president of the Fertilizer Association of Nepal, who has worked in the field of chemical fertilizers for a long time says that a fertilizer factory based on phosphate blending is the most suitable for a country like Nepal. Experts say that when setting up a nitrogen-based factory (urea production factory), about 800 megawatts of electricity will be needed per day and natural gas will also be consumed in large quantities. Even to set up a small factory that produces 46 percent nitrogen (urea), more than a billion rupees is required as investment. He opined, “This produces more fertilizer than we need, but our market is small. Therefore, in the current situation, this issue seems to be a little impossible.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, there is a possibility of establishing a fertilizer factory based on phosphate blending in Nepal with the participation of the private sector to produce DAP by mixing nitrogen and phosphate. Various studies revealed that it can be established with an investment of around Rs 100 billion. According to a study conducted by the Investment Board Nepal in 2015, it will cost Rs 75.58 billion to open a nitrogen-based fertilizer factory in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Dallakoti, different types of fertilizers can be produced from fertilizer factories based on phosphate blending. Not all crops need nitrogen. Vegetables, rice, wheat and other crops need not only nitrogen but mixed fertilizers. In the fertilizer produced from such a factory, all elements including nitrogen, phosphorus, potash, iron, and boron, copper are mixed in a balanced manner in one fertilizer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Fertilizers required for rice, corn, wheat, pulses, fruits, mustard and other crops can be produced from such a factory. Fertilizer factories based on phosphate blending are also established in countries like India, Pakistan, and Bangladesh. More than 30 of such factories have been established in India alone.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that for a long-term solution to the fertilizer problem, the government should improve the Fertilizer Policy 2053 and involve the private sector in it and think about establishing a fertilizer factory based on phosphate blending.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17044', 'image' => '20230319120036_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2023-03-19 11:59:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17305', 'article_category_id' => '1', 'title' => 'Farmers Unable to Sell Paddy to FMTCL due to Lack of Bank Accounts', 'sub_title' => '964 Quintals of Paddy Purchased in 8 Months', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 19: Farmers in the terai region are unable to sell paddy to the government because they need bank account to be eligible to sell their produce.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition to that, they are also required to show land ownership certificate of at least one bigha and 10 kathhas (1 hectare approx.) of land in order to sell paddy to the state-owned Food Management and Trading Company Limited.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ram Pukar Mandal, information officer of Janakpur-based regional office of the Food Management and Trading Company Limited (FMTCL), says that most of the farmers are not able to sell rice to the company because they cultivate rice on other people's land.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The farmers could not complete the process to sell rice,” said Mandal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The regional office of the (FMTCL), Janakpurdham has not been able to purchase paddy as per the target in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the target is to purchase 15,000 quintals of paddy in the current fiscal year, the company has purchased only 964.25 quintals of paddy till mid-March. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information Officer Ram Pukar Mandal said that in the current fiscal year, paddy worth Rs 3,016,174 will be purchased. He also admitted that the FMTCL could not be purchase paddy this year as per the target.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mandal argued that because of the decision of Agriculture Knowledge Center that at least 10 quintals of paddy should be bought per farmer, the paddy produced by lower-class farmers could not be bought. He said that farmers were unable to come to sell rice to the company because of the procedural hurdles.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17043', 'image' => '20230319104530_paddyyy-transformed.jpeg', 'article_date' => '2023-03-19 10:44:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17304', 'article_category_id' => '268', 'title' => 'Nepal And India Agree To Prepare Modality To Export Electricity to Indian States Via Bihar', 'sub_title' => '', 'summary' => 'Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">March 19: Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The 14th meeting of the Nepal-India Power Exchange Committee concluded on March 17 at New Delhi, India, decided to prepare the modality for power export from Nepal to various states in India via Bihar within a month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The meeting co-chaired by Executive Director of the Nepal Electricity Authority Kulman Ghising and member of Power System member of the Central Electricity Authority of India Ashok Kumar Rajput agreed to finalize the modality within a month for the same. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The agreement has ensured the additional market for the sale of surplus electricity during rainy season", Executive Director Ghising said. Kataiya (Bihar)-Kushaha (Nepal) and Raxaul-Parawanipur 132-KV transmission line are connected with Bihar.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">As per the Power Exchange Agreement, the meeting has determined new the price of per unit electricity at Rs 11.54 for the fiscal year 2022/23. The new rate is not on a take-or-pay modality. We have to pay the rate, only if we purchase electricity. This rate is cheaper than the current Indian market and we will get the same rate even during export;” said Ghising. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">When the NEA made its first-ever effort to buy electricity from India through competitive bidding for long-term power supply in December last year, the Indian companies had proposed to sell power to Nepal at Rs 7.50 and Rs 8.70 per unit for February-March and April-May, respectively. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The prices they quoted are higher than the rate agreed between Nepal and India during the Power Exchange Committee meeting.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Buying electricity from India’s competitive market has been even more expensive. Up to INR 12 per unit has to be paid for the power on which an additional 1.5 Indian rupees is added towards tariff for transmission charges, according to the NEA. “Hence, the rate fixed, at present, is cheaper than others,” the power utility was quoted as saying in the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The NEA has been importing electricity from India’s Bihar, Uttar Pradesh and Uttarakhand as per the electricity exchange agreement. Only Bihar and Uttar Pradesh are connected to Nepal through 132 KV transmission lines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal imports electricity from India under three separate agreements. Nepal can import power from India based on the power exchange agreement, Mahakali Treaty and open competition in the Indian power market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The electricity purchased in the open market is being imported through the 400kV Dhalkebar-Muzaffarpur cross-border double-circuit transmission line. Nepal also sells electricity in the Indian market through this power line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal Electricity Authority traded surplus electricity worth Rs 8.4 billion to Indian since the beginning of the current fiscal year 2022/23 to till the date. </span></span></span></p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17042', 'image' => '20230319064131_collage (28).jpg', 'article_date' => '2023-03-19 06:33:43', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17321', 'article_category_id' => '1', 'title' => 'Police Raid on Industry Draws Flak', 'sub_title' => '', 'summary' => 'March 20: A police raid on an industry in Adarshan Nagar of Birgunj on the charge of evading customs duty has drawn widespread criticism. ', '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"">March 20: A police raid on an industry in Adarshan Nagar of Birgunj on the charge of evading customs duty has drawn widespread criticism. After the police failed to find the evidence of revenue evasion, they forwarded the matter to the Revenue Investigation Department. </span></span></span></span></p> <p><span style="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 police opened the seal on the industry after three days. The next day, at the request of the police, a team from the Revenue Investigation Office, Pathalaiya raided the industry and took possession of the documents, raw materials and samples of ready-made products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the instructions of the District Police Office, Parsa, Ward Police Office Birta raided Sweet Mart Food Industries located in Birganj-</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""> Adarshnagar on March 9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The police claimed that they received information about suspicious dealings related to the customs duty on the raw materials (and gum) used by the chewing gum industry. The Revenue Investigation Department has now started the investigation on the allegation of revenue evasion by the industry by maintaining different customs tariff rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Superintendent of Police (SP) Komal Shah of Parsa said that the revenue investigation is being carried out by the Revenue Investigation Department - the agency responsible for investigation of revenue leakages. </span></span></span></span></p> <p><span style="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 investigation is being carried out in coordination with the police and Revenue Investigation Department,” said SP Shah. He said that now it is the job of the department to determine whether or not it is a valid issue.</span></span></span></span></p> <p><span style="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 revenue investigation officer says that the department and the police should have conducted the raids jointly, but the police arrived first and spoiled the process.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Niranjan Agarwal, the owner of the industry, claims that the raw materials have passed the inspection and there was no kind of revenue fraud. He claimed that there could not be any leakage as the inspection will be passed only after the physical examination of documents and related items by the customs 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"">Agarwal said that he was acquitted by the court even four</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">years ago when the police filed a case against him on the charge of copyright infringement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"I have not cheated any kind of revenue. There are three other industries in Birgunj that I import in the same way. However, the police have repeatedly discouraged me," he complained. Out of the eight chewing gum manufacturing industries in Nepal, three are in Birgunj. Agarwal said that all the industries are importing raw materials with the same process and customs rate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17056', 'image' => '20230320014356_1679267216.jpg', 'article_date' => '2023-03-20 13:43:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17320', 'article_category_id' => '1', 'title' => '260 Borrowers of Microfinance Companies Blacklisted in Eight Months', 'sub_title' => '', 'summary' => 'March 20: In the first eight months of the current fiscal year, more than 250 borrowers of microfinance companies have been blacklisted by the Credit Information Center.', '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"">March 20: In the first eight months of the current fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">250</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> borrowers of microfinance companies have been blacklisted by the Credit Information Center. The number of borrowers who are blacklisted by the center has increased at a time when the movement of non-payment of loans is intensifying in the context that microfinance companies are charging high interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the directives of Nepal Rastra Bank (NRB), the microfinance companies have started exchanging loan investment information with the center from the current fiscal year (FY). There is a provision that microfinance institutions should recommend blacklisting borrowers who default on loans of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000. If the organization wants, they can also recommend blacklisting borrowers who take loans of less than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000.</span></span></span></span></p> <p><span style="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 this arrangement, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">260</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> borrowers were blacklisted between mid-July to mid-February on the recommendation of microfinance companies. According to the data published by the center, only one debtor was in the blacklist in the first month of the current fiscal year (mid-July to mid-August) and three in the second month (mid-August to mid-September), and since then it has been increasing. </span></span></span></span></p> <p><span style="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 center informed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> debtors were blacklisted in mid-September to mid-October, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-October to mid-November, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">53</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-November to mid-December, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">97</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-December to mid-January, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-January to mid-February and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-February to mid-March.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">People who are blacklisted by the information center cannot open accounts and take loans from banks and financial institutions. There is a provision that the concerned organization should recommend to the information center to remove the blacklisted person from the blacklist after paying the entire interest of the loan.</span></span></span></span></p> <p><span style="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 eliminate the duplication of credit and credit abuse seen in microfinance, the central bank had instructed microfinance institutions to become members of the center two years ago and exchange information. Accordingly, there is a provision that microfinance must obtain credit information from the center about borrowers/customers before disbursing loans, renewing old loans, restructuring or rescheduling loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prakash Raj Sharma, president of the Microfinance Bankers Association, said that as per the instructions of the central bank, all microfinance institutions are members of the information center and are exchanging information on loan investments. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Now we send all microfinance loans to the information center," he said, "Since all the institutions started exchanging information, the number of bad borrowers in the blacklist has also started to increase."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Non-performing loans of organizations are increasing as the recovery of microfinances is affected due to the movement started with the demand of loan waiver following the decline in the ability of the customers to pay the loan installments. </span></span></span></span></p> <p><span style="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 NRB, the non-performing loans of microfinance institutions reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent by the second quarter of the current year. Until a year ago, the non-performing loans of microfinance companies was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.94</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"">At present, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> microfinance institutions have formed </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> groups and are providing financial services to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,988,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. Among them, </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"">.</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 members have taken loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By creating a group of poor and disadvantaged people who do not have access to banks and financial institutions, microfinance has been giving loans from the collective deposits and without collateral. Microfinance institutions are allowed to invest up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 per member in collective deposits and up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million by keeping property as collateral.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the microfinance institutions are being criticized for lending more than they need to the needy and being unable to repay them. Keeping this in mind, the central bank has issued instructions on February 22 that a person can take loans from only one institution and those who have taken a loan from a microfinance company cannot take loans from banks and financial institutions.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-21', 'keywords' => '', 'description' => '', 'sortorder' => '17055', 'image' => '20230320012334_badloan.jpg', 'article_date' => '2023-03-20 13:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17319', 'article_category_id' => '1', 'title' => 'Government Seeks Suggestions and Feedback on Revenue Policy ', 'sub_title' => '', 'summary' => 'March 20: The government has sought feedback and suggestions from all stakeholders on the revenue policy to be included in the financial act for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 20: The government has sought feedback and suggestions from all stakeholders on the revenue policy to be included in the financial act for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Ministry of Finance has appealed to all concerned to provide their feedback by April 3 on matters concerning customs duty, value added tax, income tax, excise duty, non-tax revenue, and revenue leakage control. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice was issued by the Revenue Advisory Committee, which has been working as a mechanism to give feedback and suggestions on revenue management to the government. Based on suggestions and feedback received from various quarters, the committee will submit a report to the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Suggestions are also being sought on enacting new tax laws, repealing if necessary any legal provisions and changing tax rates. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Finance also informed that nine different thematic sub-committees have been formed to prepare the report of the Revenue Advisory Committee. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17054', 'image' => '20230320124417_finance_ministry_copy1.jpg', 'article_date' => '2023-03-20 12:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17318', 'article_category_id' => '1', 'title' => 'Government Starts Issuing Climbing Permits for Spring Season', 'sub_title' => '', 'summary' => 'March 20: With the onset of the spring season, which is considered ideal for mountain expedition in Nepal, the Department of Tourism has started issuing climbing permits to the tourists.', '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"">March 20: With the onset of the spring season, which is considered ideal for mountain expedition in Nepal, the Department of Tourism has started issuing climbing permits to the tourists. As of Sunday, 50 climbers from 25 countries have already received permits.</span></span></span></span></p> <p><span style="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 notification issued by the Department of Tourism on Sunday, the foreigners have taken permission to climb Annapurna-1, Surma Sarovar, Pangri Goldumba, Manaslu and Thorong Peak. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among them, 17 are women and 33 are men. According to the department, so far most people have taken permission to climb Annapurna-1. A total of 34 people, including 12 women, have received permission to climb the mountain.</span></span></span></span></p> <p><span style="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 department has collected revenue worth Rs 12.89 million from issuing the climbing permits. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Climbers from Australia, Austria, Brazil, British Virgin Island, Bulgaria, Canada, China, France, Georgia, India, Ireland, Japan, Macedonia, Norway, Pakistan, Poland, Qatar, Romania, Russia, Serbia, Singapore, South Korea, Spain, Britain and the United States have taken permission for the spring 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"">Ascent of Mount Everest is preferred more in the spring season when the weather is more favourable. Nepal collects the most revenue from Mount Everest. A mountaineer must complete the ascent within 75 days after the department issues climbing permit.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17053', 'image' => '20230320113850_1679267152.jpg', 'article_date' => '2023-03-20 11:37:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17316', 'article_category_id' => '1', 'title' => 'PM Dahal Taking Vote of Confidence Today ', 'sub_title' => '', 'summary' => 'March 20: Prime Minister Pushpa Kamal Dahal is taking vote of confidence from the House of Representatives today (March 20). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 20: Prime Minister Pushpa Kamal Dahal is taking vote of confidence from the House of Representatives today (March 20). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal is taking vote of confidence from the parliament (lower house) for the second second time after becoming the prime minister following the November 20 election. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Spokesperson of the Parliament-Secretariat Dasharath Dhamala informed that Prime Minister Dahal is scheduled to take vote of trust from the HoR meeting which will convene at 1.00 pm today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A situation was emerged for the PM to secure vote of confidence with the erstwhile ruling coalition partners, CPN-UML and Rastriya Prajatantra Party, quitting the government regarding the dispute over the candidates for the post of president and vice-president. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a constitutional provision that the prime minister should take vote of confidence within 30 days after political parties supporting the government withdraws the support. In consistent with the provision, the incumbent prime minister has to take vote of confidence within March 26. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that Chairperson of CPN (Maoist Centre) Pushpa Kamal Dahal was appointed the prime minister of Nepal on December 25, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first innings, Dahal had secured over 99 percent vote of confidence from the parliament on January 11, 2023. The partners of new coalition formed of late in the context of presidential and vice-presidential elections have agreed to give vote of confidence to PM Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with CPN (Maoist Centre), Nepali Congress, Rastriya Swatantra Party, Janata Samajwadi Party, Unified Socialist, Janamat Party, Loktantrik Samajwadi Party, Nagarik Unmukti Party and Rastriya Janamorcha among others are expected to support PM Dahal in securing vote of confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal needs 138 votes for securing trust from the parliament. In the HoR, Maoist Centre has 32 members, Nepali Congress (88), RSP (19), JSP (11), Socialist (10), Janamat Party (6), LSP (4), Nagarik Unmukti (4) and Janamorcha (1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, UML has (79), RPP (14), independent (2), Nepal Peasants Workers Party (1) and Aam Janata Party (1) in the HoR. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17052', 'image' => '20230320105431_6F8A9729 - Copy.jpg', 'article_date' => '2023-03-20 10:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17317', 'article_category_id' => '1', 'title' => 'Westerly Winds Bring Rainfall and Thunder across the Country ', 'sub_title' => '', 'summary' => 'March 20: The country is currently witnessing the impacts of the westerly winds along with the local wind system. It has resulted in partial to general changes in weather situation across the country. ', '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 Unicode MS","sans-serif"">March 20: The country is currently witnessing the impacts of the westerly winds along with the local wind system. It has resulted in partial to general changes in weather situation across 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:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Weather Forecasting Division, rainfall with thunderstorms and lightning is now occurring in some parts of Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces. </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 Unicode MS","sans-serif"">Later in the afternoon today (March 20), light to moderate rainfall with thunders and lightning is predicted in some mountainous areas of Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces. Likewise, there will be general to complete changes in the weather system during the day today. </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 Unicode MS","sans-serif"">There are chances of rainfall with thunders and lightning in some areas of mountainous belt and Terai region tonight, according to weather forecasting bulletin published by the division. </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 Unicode MS","sans-serif"">Kathmandu Valley has witnessed general changes since early morning today. There is a possibility of light rainfall in Kathmandu in the afternoon. </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 Unicode MS","sans-serif"">This winter, most of the country had less than average rainfall. Except far western Nepal, most of the parts of the country received delayed rainfall during winter. According to the Department of Hydrology and Meteorology, the country received the lowest precipitation this winter in the last 14 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 Unicode MS","sans-serif"">The department further stated that pre-monsoon has started from March 1 with the exit of winter. The pre-monsoon period is characterized by thunder and lightning coupled with gusty winds and the possibility of hailstone and rain towards the afternoon. The pre-monsoon period will last for three months. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17051', 'image' => '20230320110708_rainnnnnnnnn.jpg', 'article_date' => '2023-03-20 11:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17315', 'article_category_id' => '1', 'title' => 'Over 5,00000 Labour Permits Issued In Eight Months ', 'sub_title' => '', 'summary' => 'The number of youths who received labour permits for foreign employment has crossed 5,00000 in the eight months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px">March 20: The number of youths who received labour permits for foreign employment has crossed 5,00000 in the eight months of the current fiscal year. </span></p> <p><span style="font-size:18px">Data at the Department of Foreign Employment show that as many as 5,40,675 youths obtained labour permit for foreign employment in the eight months of the current fiscal year.</span></p> <p><span style="font-size:18px">This is 33 per cent more than the last year’s labour permits issued by the departmnet during the same period. The Department of Foreign Employment had issued 4,04,963 labour permits duirng the same period last fiscal year.</span></p> <p><span style="font-size:18px">The total number of labour permits issued by the department for foreign employment was 6,30,090 last fiscal year. The Department of Foreign Employment estimates that the number will increase this fiscal. </span></p> <p><span style="font-size:18px">“Department of Foreign Employment estimates labour permits around 7,00000 to 8,00000 will be issued for foreign employment in the current fiscal year,” said Director General Umakant Acharya of the department.</span></p> <p><span style="font-size:18px">Acharya said trend of people going for foreign employment post-COVID-19 pandemic has increased. “Malaysia has increased the salary of labourers, which has led to the rise of people obtaining labour permit,” Acharya said.</span></p> <p><span style="font-size:18px">As per the department, Malaysia is the most preferred destination among Nepali youths for foreign employment. A total of 19,842 persons received the labour permit for Malaysia the last month alone. Likewise, the department issued 11,303labour permits for Qatar. </span></p> <p><span style="font-size:18px">For foreign employment in UAE, 9,795 took the labour permit while 9,503 received the permit for foreign employment in Saudia Arabia in the last month alone.</span></p> <p><span style="font-size:18px">According to Acharya, the number of youths receiving labour permits for foreign job in European countries such as Malta, Turkey, Romania, Croatia is also increasing. In the last month alone, the department issued 1070 labour permits for Romania, 557 for Croatia, 21 for Turkey and 282 for Malta.</span></p> <p><span style="font-size:18px">A total of 63,029 individuals received labour permits for foreign job in the first month of the current fiscal year while 76,403 Nepalis obtained permits for foriegn employment in the second month.</span></p> <p><span style="font-size:18px">Likewise, the department issued as many as 62,706, 78370, 68564, 65464, 64,284 and 61,000 labour permits in the third, fourth, fifth, sixth, seventh and eighth months of the current fiscal year.</span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17050', 'image' => '20230320070419_collage (29).jpg', 'article_date' => '2023-03-20 06:38:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '17314', 'article_category_id' => '218', 'title' => 'Shangrila Development Bank’s CEO Shrestha Elected Chairman of DBAN ', 'sub_title' => '', 'summary' => 'Chief Executive Officer Suyog Shrestha of Shangrila Development Bank has been unanimously elected as the Chairman of Development Bankers Association Nepal. DBAN’s 17th Annual General Meeting held in Chitwan unanimously appointed Suyog Shrestha as the Chairman of the association on March 17. ', 'content' => '<p><span style="font-size:18px">March 19: Chief Executive Officer Suyog Shrestha of Shangrila Development Bank has been unanimously elected as the Chairman of Development Bankers Association Nepal. DBAN’s 17th Annual General Meeting held in Chitwan unanimously appointed Suyog Shrestha as the Chairman of the association on March 17. </span></p> <p><span style="font-size:18px">Likewise, Mahalaxmi BikasBank’s Chief Executive Officer Bodhraj Devkota has been appointed Vice-chair of the DBAN. Sindhu Bikas Bank’s CEO Ram Kumar Giri, and Lumbini Bikas Bank’s CEO Naresh Singh Bohora have been elected as Secretary and Treasurer respectively.</span></p> <p><span style="font-size:18px">Other members of the DBAN include Shine Resunga Development Bank’s CEO Prakash Poudel, Jyoti Bikash Bank’s CEO Shree Chandra Bhatt and Excel Development Bank’s CEO Dr Indra Kattel. </span></p> <p><span style="font-size:18px">Newly-elected DBAN Chairman Shrestha pledged to work for the rights and welfare of the development banks. “Though the number of development banks has fallen from 90 to 17, development banks’ market occupancy has not dropped. We will have to work together to do more and better in the days to come,” Shrestha added. </span><br /> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17049', 'image' => '20230319053835_collage - 2023-03-19T173455.828.jpg', 'article_date' => '2023-03-19 17:36:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17313', 'article_category_id' => '1', 'title' => 'Payments through QR Code Increasing', 'sub_title' => '', 'summary' => 'March 19: The business through QR transaction is increasing in recent years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">March 19: The business through QR transaction is increasing in recent years. QR transactions have increased notably after the Nepal Rastra Bank (NRB) implemented a system of free payment through QR code.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Nowadays, payments are made through QR for buying vegetables to paying college fees, paying insurance fees, making offerings to temples among others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the central bank, financial transactions through QR code in the first seven months of the current fiscal year stood at Rs 117.46 billion. The transaction this year is 179.21 percent more than that in the same period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the corresponding period of last fiscal year, the turnover from QR transactions was Rs 42.7 billion. In the fiscal year 2077/78, the turnover from QR was Rs 20.28 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Guru Prasad Paudel, executive director of the Payments System Department of the NRB, says that the business is increasing after the central bank implemented the policy of free payment through QR.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“At present, more than 1.6 million merchants have QR stands across the country. Therefore, it seems that in the near future, the business through QR will increase even more,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Manoj Mehta, Chief Executive Officer of My-Pay, says that although the business through QR has increased, most of the businesses are concentrated only in the Kathmandu Valley.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, he argues that it is necessary to bring a policy that all kinds of payments made in government offices should be made only through QR to encourage business through QR throughout the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As the internet is mandatory to pay through QR, users are forced to pay using the mobile data at a high cost.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Therefore, it seems that if we give some concessions on the Internet when making payments through QR, the business will increase,'' says Mehta.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17048', 'image' => '20230319043337_1679054370.jpg', 'article_date' => '2023-03-19 16:33:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17309', 'article_category_id' => '1', 'title' => 'Tourists Stranded in Dhorpatan due to Snowfall', 'sub_title' => '', 'summary' => 'March 19: Snowfall has been reported for the first time in Dhorpatan of Baglung this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">March 19: Snowfall has been reported for the first time in Dhorpatan of Baglung this year. After a long period of drought, snowfall occurred here since Saturday night along with rain. The chilling cold has increased due to the snowfall. Shyamalal Ghimire, a local hotelier, said that Dhorpatan valley has been covered in a white blanket of snow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">It has been reported that the snowfall has made life difficult for the locals. Ghilmire said that the mobile network did not work on Saturday night due to the snow and it started working after the sun rose on Sunday morning. According to Ghimire, locals and tourists coming down from Dhorpatan to Burtibang were stranded at Dhorpatan after the road was blocked by snow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Yesterday, a bus full of tourists came from Butwal but they could not travel ahead of Faleghar due to snow, later they were brought by a pick-up", said Ghimire, "Now the sun is shining, the snow is slowly melting, all the roads will be opened soon."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Another local Kul Bahadur BK said that it was difficult to feed the horses and livestock due to the snowfall. Last year it snowed four to five times in January and February, but this year it snowed for the first time in Dhorpatan valley, said BK. -- RSS</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17047', 'image' => '20230319034655_dhorpatann.jpg', 'article_date' => '2023-03-19 15:46:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17308', 'article_category_id' => '1', 'title' => 'Per Day Spending of Tourists Estimated to Increase to USD 100', 'sub_title' => '', 'summary' => 'March 19: In 2018 and 2019, tourists came to Nepal in huge numbers.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">March 19: In 2018 and 2019, tourists came to Nepal in huge numbers. Compared to those two years, although the number of tourists was less in 2020, the daily expenditure of tourists was more. According to the data of the Nepal Tourism Board, a total of 230,085 tourists came to Nepal in 2020. In that year, each tourist spent an average of US dollar 65 per day.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In previous years, a tourist spent an average of USD 48 per day, according to the data. In 2019, 1.1 million foreign tourists visited Nepal. According to the board's data, the average cost per tourist per day back then was US dollar 48.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The lockdown started in Nepal from April 2020. Tourists coming to Nepal in 2020 had spent more time than other years. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the experts, the spending of tourists coming to Nepal was high due to the increase in the duration of their stay and food expenses, even though the number of tourists was low. The Nepal Tourism Board has estimated that the rate of daily spending by foreign tourists in Nepal may have reached USD 100 in 2022.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"A survey is being conducted to see how much the tourist's expenses have increased," Maniraj Lamichhane, the director of the board, said. To further confirm this, a sample survey has been started by creating a questionnaire.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, this survey includes questionnaires such as the expenses incurred when coming to Nepal by purchasing a package tour, whether the package was purchased through a hotel, how much was spent on transportation, and on food.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">These questions will be asked to tourists at the airport. Tourists are also involved in activities outside the package. He expects that the rate of expenditure will increase as expenses other than packages are also counted in the current survey.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank is currently estimating the expenditure of tourists on the basis of foreign currency exchange of the hotel and accommodation sector. Now, a separate survey will be conducted to cover data on expenditure made by tourists in informal areas of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tourists also spend money in small tea shops that are operating without registration along the trekking route. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"That amount is not counted in expenditure," he said, "At present, how much has been spent in which area does not appear in the database. In the upcoming survey, the data will be collected by questioning the sources of spending by tourists.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deepakraj Joshi, the former chief executive officer of the board, said that the expenditure of tourists has recently increased. After the Covid, natural destinations have become the choice of tourists.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that although the overall income will increase with the rise in arrival of tourists, per day spending of tourist on average will not increase. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the number of tourists increases, the average amount spent has decreased in some cases," Joshi said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, most of the money spent on the tourist packages to Nepal will be spent on tickets.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also suggested that in the current competitive situation, the state should pay attention to increase new activities and services and increase the expenditure. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17046', 'image' => '20230319025557_Tourist.jpg', 'article_date' => '2023-03-19 14:53:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17307', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches All-time High at Rs 110,000 Per Tola', 'sub_title' => '', 'summary' => 'March 19: The price of gold has set a new record after an increase in the price of the precious yellow metal by Rs 2900 per tola (11.66 grams) on Sunday.', 'content' => '<h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 19: </span></span></span></span><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The price of gold has set a new record after an increase in the price of the precious yellow metal by Rs 2900 per tola (11.66 grams) on Sunday. </span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Association, the price of gold on Sunday has been set at Rs 110,000 per tola. Last Friday, the price of gold was Rs 107,100 per tola.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The last time the price of gold reached the highest ever was on February 12, when the price was recorded at Rs 107,500 per tola, according to the Federation of Gold and Silver Dealers Association.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Since then, the price of gold has been fluctuating.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last few days, the price of gold has been constantly on the rise. Last week, the price of gold increased by Rs 3,600 per tola.</span></span></span></span></h1> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17045', 'image' => '20230319013942_gold newwww.jpg', 'article_date' => '2023-03-19 13:38:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17306', 'article_category_id' => '1', 'title' => 'Call for Establishing Fertilizer Factory in Nepal', 'sub_title' => '', 'summary' => 'March 19: Lack of chemical fertilizers is a major problem in Nepal, an agricultural country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 19: Lack of chemical fertilizers is a major problem in Nepal, an agricultural country. After the government cut the subsidy given to farmers for the purchase of chemical fertilizers a few days ago, farmers are protesting saying that there will be more problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, the issue of opening a fertilizer factory in Nepal has come up time and again for a long-term solution to this problem.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders are divided on whether to open nitrogen-based fertilizer factory (urea production industry) or phosphate blending based fertilizer factory (balanced fertilizer industry) on the other side. Stakeholders say that it is more appropriate to establish a factory based on phosphate blending for a country like Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, central president of the Fertilizer Association of Nepal, who has worked in the field of chemical fertilizers for a long time says that a fertilizer factory based on phosphate blending is the most suitable for a country like Nepal. Experts say that when setting up a nitrogen-based factory (urea production factory), about 800 megawatts of electricity will be needed per day and natural gas will also be consumed in large quantities. Even to set up a small factory that produces 46 percent nitrogen (urea), more than a billion rupees is required as investment. He opined, “This produces more fertilizer than we need, but our market is small. Therefore, in the current situation, this issue seems to be a little impossible.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, there is a possibility of establishing a fertilizer factory based on phosphate blending in Nepal with the participation of the private sector to produce DAP by mixing nitrogen and phosphate. Various studies revealed that it can be established with an investment of around Rs 100 billion. According to a study conducted by the Investment Board Nepal in 2015, it will cost Rs 75.58 billion to open a nitrogen-based fertilizer factory in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Dallakoti, different types of fertilizers can be produced from fertilizer factories based on phosphate blending. Not all crops need nitrogen. Vegetables, rice, wheat and other crops need not only nitrogen but mixed fertilizers. In the fertilizer produced from such a factory, all elements including nitrogen, phosphorus, potash, iron, and boron, copper are mixed in a balanced manner in one fertilizer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Fertilizers required for rice, corn, wheat, pulses, fruits, mustard and other crops can be produced from such a factory. Fertilizer factories based on phosphate blending are also established in countries like India, Pakistan, and Bangladesh. More than 30 of such factories have been established in India alone.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that for a long-term solution to the fertilizer problem, the government should improve the Fertilizer Policy 2053 and involve the private sector in it and think about establishing a fertilizer factory based on phosphate blending.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17044', 'image' => '20230319120036_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2023-03-19 11:59:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17305', 'article_category_id' => '1', 'title' => 'Farmers Unable to Sell Paddy to FMTCL due to Lack of Bank Accounts', 'sub_title' => '964 Quintals of Paddy Purchased in 8 Months', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 19: Farmers in the terai region are unable to sell paddy to the government because they need bank account to be eligible to sell their produce.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition to that, they are also required to show land ownership certificate of at least one bigha and 10 kathhas (1 hectare approx.) of land in order to sell paddy to the state-owned Food Management and Trading Company Limited.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ram Pukar Mandal, information officer of Janakpur-based regional office of the Food Management and Trading Company Limited (FMTCL), says that most of the farmers are not able to sell rice to the company because they cultivate rice on other people's land.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The farmers could not complete the process to sell rice,” said Mandal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The regional office of the (FMTCL), Janakpurdham has not been able to purchase paddy as per the target in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the target is to purchase 15,000 quintals of paddy in the current fiscal year, the company has purchased only 964.25 quintals of paddy till mid-March. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information Officer Ram Pukar Mandal said that in the current fiscal year, paddy worth Rs 3,016,174 will be purchased. He also admitted that the FMTCL could not be purchase paddy this year as per the target.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mandal argued that because of the decision of Agriculture Knowledge Center that at least 10 quintals of paddy should be bought per farmer, the paddy produced by lower-class farmers could not be bought. He said that farmers were unable to come to sell rice to the company because of the procedural hurdles.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17043', 'image' => '20230319104530_paddyyy-transformed.jpeg', 'article_date' => '2023-03-19 10:44:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17304', 'article_category_id' => '268', 'title' => 'Nepal And India Agree To Prepare Modality To Export Electricity to Indian States Via Bihar', 'sub_title' => '', 'summary' => 'Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">March 19: Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The 14th meeting of the Nepal-India Power Exchange Committee concluded on March 17 at New Delhi, India, decided to prepare the modality for power export from Nepal to various states in India via Bihar within a month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The meeting co-chaired by Executive Director of the Nepal Electricity Authority Kulman Ghising and member of Power System member of the Central Electricity Authority of India Ashok Kumar Rajput agreed to finalize the modality within a month for the same. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The agreement has ensured the additional market for the sale of surplus electricity during rainy season", Executive Director Ghising said. Kataiya (Bihar)-Kushaha (Nepal) and Raxaul-Parawanipur 132-KV transmission line are connected with Bihar.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">As per the Power Exchange Agreement, the meeting has determined new the price of per unit electricity at Rs 11.54 for the fiscal year 2022/23. The new rate is not on a take-or-pay modality. We have to pay the rate, only if we purchase electricity. This rate is cheaper than the current Indian market and we will get the same rate even during export;” said Ghising. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">When the NEA made its first-ever effort to buy electricity from India through competitive bidding for long-term power supply in December last year, the Indian companies had proposed to sell power to Nepal at Rs 7.50 and Rs 8.70 per unit for February-March and April-May, respectively. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The prices they quoted are higher than the rate agreed between Nepal and India during the Power Exchange Committee meeting.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Buying electricity from India’s competitive market has been even more expensive. Up to INR 12 per unit has to be paid for the power on which an additional 1.5 Indian rupees is added towards tariff for transmission charges, according to the NEA. “Hence, the rate fixed, at present, is cheaper than others,” the power utility was quoted as saying in the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The NEA has been importing electricity from India’s Bihar, Uttar Pradesh and Uttarakhand as per the electricity exchange agreement. Only Bihar and Uttar Pradesh are connected to Nepal through 132 KV transmission lines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal imports electricity from India under three separate agreements. Nepal can import power from India based on the power exchange agreement, Mahakali Treaty and open competition in the Indian power market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The electricity purchased in the open market is being imported through the 400kV Dhalkebar-Muzaffarpur cross-border double-circuit transmission line. Nepal also sells electricity in the Indian market through this power line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal Electricity Authority traded surplus electricity worth Rs 8.4 billion to Indian since the beginning of the current fiscal year 2022/23 to till the date. </span></span></span></p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17042', 'image' => '20230319064131_collage (28).jpg', 'article_date' => '2023-03-19 06:33:43', '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' => '17321', 'article_category_id' => '1', 'title' => 'Police Raid on Industry Draws Flak', 'sub_title' => '', 'summary' => 'March 20: A police raid on an industry in Adarshan Nagar of Birgunj on the charge of evading customs duty has drawn widespread criticism. ', '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"">March 20: A police raid on an industry in Adarshan Nagar of Birgunj on the charge of evading customs duty has drawn widespread criticism. After the police failed to find the evidence of revenue evasion, they forwarded the matter to the Revenue Investigation Department. </span></span></span></span></p> <p><span style="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 police opened the seal on the industry after three days. The next day, at the request of the police, a team from the Revenue Investigation Office, Pathalaiya raided the industry and took possession of the documents, raw materials and samples of ready-made products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the instructions of the District Police Office, Parsa, Ward Police Office Birta raided Sweet Mart Food Industries located in Birganj-</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""> Adarshnagar on March 9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The police claimed that they received information about suspicious dealings related to the customs duty on the raw materials (and gum) used by the chewing gum industry. The Revenue Investigation Department has now started the investigation on the allegation of revenue evasion by the industry by maintaining different customs tariff rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Superintendent of Police (SP) Komal Shah of Parsa said that the revenue investigation is being carried out by the Revenue Investigation Department - the agency responsible for investigation of revenue leakages. </span></span></span></span></p> <p><span style="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 investigation is being carried out in coordination with the police and Revenue Investigation Department,” said SP Shah. He said that now it is the job of the department to determine whether or not it is a valid issue.</span></span></span></span></p> <p><span style="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 revenue investigation officer says that the department and the police should have conducted the raids jointly, but the police arrived first and spoiled the process.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Niranjan Agarwal, the owner of the industry, claims that the raw materials have passed the inspection and there was no kind of revenue fraud. He claimed that there could not be any leakage as the inspection will be passed only after the physical examination of documents and related items by the customs 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"">Agarwal said that he was acquitted by the court even four</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">years ago when the police filed a case against him on the charge of copyright infringement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"I have not cheated any kind of revenue. There are three other industries in Birgunj that I import in the same way. However, the police have repeatedly discouraged me," he complained. Out of the eight chewing gum manufacturing industries in Nepal, three are in Birgunj. Agarwal said that all the industries are importing raw materials with the same process and customs rate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17056', 'image' => '20230320014356_1679267216.jpg', 'article_date' => '2023-03-20 13:43:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17320', 'article_category_id' => '1', 'title' => '260 Borrowers of Microfinance Companies Blacklisted in Eight Months', 'sub_title' => '', 'summary' => 'March 20: In the first eight months of the current fiscal year, more than 250 borrowers of microfinance companies have been blacklisted by the Credit Information Center.', '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"">March 20: In the first eight months of the current fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">250</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> borrowers of microfinance companies have been blacklisted by the Credit Information Center. The number of borrowers who are blacklisted by the center has increased at a time when the movement of non-payment of loans is intensifying in the context that microfinance companies are charging high interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the directives of Nepal Rastra Bank (NRB), the microfinance companies have started exchanging loan investment information with the center from the current fiscal year (FY). There is a provision that microfinance institutions should recommend blacklisting borrowers who default on loans of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000. If the organization wants, they can also recommend blacklisting borrowers who take loans of less than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000.</span></span></span></span></p> <p><span style="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 this arrangement, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">260</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> borrowers were blacklisted between mid-July to mid-February on the recommendation of microfinance companies. According to the data published by the center, only one debtor was in the blacklist in the first month of the current fiscal year (mid-July to mid-August) and three in the second month (mid-August to mid-September), and since then it has been increasing. </span></span></span></span></p> <p><span style="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 center informed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> debtors were blacklisted in mid-September to mid-October, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-October to mid-November, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">53</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-November to mid-December, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">97</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-December to mid-January, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-January to mid-February and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-February to mid-March.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">People who are blacklisted by the information center cannot open accounts and take loans from banks and financial institutions. There is a provision that the concerned organization should recommend to the information center to remove the blacklisted person from the blacklist after paying the entire interest of the loan.</span></span></span></span></p> <p><span style="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 eliminate the duplication of credit and credit abuse seen in microfinance, the central bank had instructed microfinance institutions to become members of the center two years ago and exchange information. Accordingly, there is a provision that microfinance must obtain credit information from the center about borrowers/customers before disbursing loans, renewing old loans, restructuring or rescheduling loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prakash Raj Sharma, president of the Microfinance Bankers Association, said that as per the instructions of the central bank, all microfinance institutions are members of the information center and are exchanging information on loan investments. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Now we send all microfinance loans to the information center," he said, "Since all the institutions started exchanging information, the number of bad borrowers in the blacklist has also started to increase."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Non-performing loans of organizations are increasing as the recovery of microfinances is affected due to the movement started with the demand of loan waiver following the decline in the ability of the customers to pay the loan installments. </span></span></span></span></p> <p><span style="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 NRB, the non-performing loans of microfinance institutions reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent by the second quarter of the current year. Until a year ago, the non-performing loans of microfinance companies was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.94</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"">At present, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> microfinance institutions have formed </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> groups and are providing financial services to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,988,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. Among them, </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"">.</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 members have taken loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By creating a group of poor and disadvantaged people who do not have access to banks and financial institutions, microfinance has been giving loans from the collective deposits and without collateral. Microfinance institutions are allowed to invest up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 per member in collective deposits and up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million by keeping property as collateral.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the microfinance institutions are being criticized for lending more than they need to the needy and being unable to repay them. Keeping this in mind, the central bank has issued instructions on February 22 that a person can take loans from only one institution and those who have taken a loan from a microfinance company cannot take loans from banks and financial institutions.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-21', 'keywords' => '', 'description' => '', 'sortorder' => '17055', 'image' => '20230320012334_badloan.jpg', 'article_date' => '2023-03-20 13:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17319', 'article_category_id' => '1', 'title' => 'Government Seeks Suggestions and Feedback on Revenue Policy ', 'sub_title' => '', 'summary' => 'March 20: The government has sought feedback and suggestions from all stakeholders on the revenue policy to be included in the financial act for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 20: The government has sought feedback and suggestions from all stakeholders on the revenue policy to be included in the financial act for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Ministry of Finance has appealed to all concerned to provide their feedback by April 3 on matters concerning customs duty, value added tax, income tax, excise duty, non-tax revenue, and revenue leakage control. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice was issued by the Revenue Advisory Committee, which has been working as a mechanism to give feedback and suggestions on revenue management to the government. Based on suggestions and feedback received from various quarters, the committee will submit a report to the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Suggestions are also being sought on enacting new tax laws, repealing if necessary any legal provisions and changing tax rates. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Finance also informed that nine different thematic sub-committees have been formed to prepare the report of the Revenue Advisory Committee. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17054', 'image' => '20230320124417_finance_ministry_copy1.jpg', 'article_date' => '2023-03-20 12:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17318', 'article_category_id' => '1', 'title' => 'Government Starts Issuing Climbing Permits for Spring Season', 'sub_title' => '', 'summary' => 'March 20: With the onset of the spring season, which is considered ideal for mountain expedition in Nepal, the Department of Tourism has started issuing climbing permits to the tourists.', '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"">March 20: With the onset of the spring season, which is considered ideal for mountain expedition in Nepal, the Department of Tourism has started issuing climbing permits to the tourists. As of Sunday, 50 climbers from 25 countries have already received permits.</span></span></span></span></p> <p><span style="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 notification issued by the Department of Tourism on Sunday, the foreigners have taken permission to climb Annapurna-1, Surma Sarovar, Pangri Goldumba, Manaslu and Thorong Peak. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among them, 17 are women and 33 are men. According to the department, so far most people have taken permission to climb Annapurna-1. A total of 34 people, including 12 women, have received permission to climb the mountain.</span></span></span></span></p> <p><span style="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 department has collected revenue worth Rs 12.89 million from issuing the climbing permits. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Climbers from Australia, Austria, Brazil, British Virgin Island, Bulgaria, Canada, China, France, Georgia, India, Ireland, Japan, Macedonia, Norway, Pakistan, Poland, Qatar, Romania, Russia, Serbia, Singapore, South Korea, Spain, Britain and the United States have taken permission for the spring 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"">Ascent of Mount Everest is preferred more in the spring season when the weather is more favourable. Nepal collects the most revenue from Mount Everest. A mountaineer must complete the ascent within 75 days after the department issues climbing permit.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17053', 'image' => '20230320113850_1679267152.jpg', 'article_date' => '2023-03-20 11:37:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17316', 'article_category_id' => '1', 'title' => 'PM Dahal Taking Vote of Confidence Today ', 'sub_title' => '', 'summary' => 'March 20: Prime Minister Pushpa Kamal Dahal is taking vote of confidence from the House of Representatives today (March 20). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 20: Prime Minister Pushpa Kamal Dahal is taking vote of confidence from the House of Representatives today (March 20). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal is taking vote of confidence from the parliament (lower house) for the second second time after becoming the prime minister following the November 20 election. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Spokesperson of the Parliament-Secretariat Dasharath Dhamala informed that Prime Minister Dahal is scheduled to take vote of trust from the HoR meeting which will convene at 1.00 pm today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A situation was emerged for the PM to secure vote of confidence with the erstwhile ruling coalition partners, CPN-UML and Rastriya Prajatantra Party, quitting the government regarding the dispute over the candidates for the post of president and vice-president. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a constitutional provision that the prime minister should take vote of confidence within 30 days after political parties supporting the government withdraws the support. In consistent with the provision, the incumbent prime minister has to take vote of confidence within March 26. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that Chairperson of CPN (Maoist Centre) Pushpa Kamal Dahal was appointed the prime minister of Nepal on December 25, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first innings, Dahal had secured over 99 percent vote of confidence from the parliament on January 11, 2023. The partners of new coalition formed of late in the context of presidential and vice-presidential elections have agreed to give vote of confidence to PM Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with CPN (Maoist Centre), Nepali Congress, Rastriya Swatantra Party, Janata Samajwadi Party, Unified Socialist, Janamat Party, Loktantrik Samajwadi Party, Nagarik Unmukti Party and Rastriya Janamorcha among others are expected to support PM Dahal in securing vote of confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal needs 138 votes for securing trust from the parliament. In the HoR, Maoist Centre has 32 members, Nepali Congress (88), RSP (19), JSP (11), Socialist (10), Janamat Party (6), LSP (4), Nagarik Unmukti (4) and Janamorcha (1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, UML has (79), RPP (14), independent (2), Nepal Peasants Workers Party (1) and Aam Janata Party (1) in the HoR. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17052', 'image' => '20230320105431_6F8A9729 - Copy.jpg', 'article_date' => '2023-03-20 10:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17317', 'article_category_id' => '1', 'title' => 'Westerly Winds Bring Rainfall and Thunder across the Country ', 'sub_title' => '', 'summary' => 'March 20: The country is currently witnessing the impacts of the westerly winds along with the local wind system. It has resulted in partial to general changes in weather situation across the country. ', '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 Unicode MS","sans-serif"">March 20: The country is currently witnessing the impacts of the westerly winds along with the local wind system. It has resulted in partial to general changes in weather situation across 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:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Weather Forecasting Division, rainfall with thunderstorms and lightning is now occurring in some parts of Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces. </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 Unicode MS","sans-serif"">Later in the afternoon today (March 20), light to moderate rainfall with thunders and lightning is predicted in some mountainous areas of Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces. Likewise, there will be general to complete changes in the weather system during the day today. </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 Unicode MS","sans-serif"">There are chances of rainfall with thunders and lightning in some areas of mountainous belt and Terai region tonight, according to weather forecasting bulletin published by the division. </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 Unicode MS","sans-serif"">Kathmandu Valley has witnessed general changes since early morning today. There is a possibility of light rainfall in Kathmandu in the afternoon. </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 Unicode MS","sans-serif"">This winter, most of the country had less than average rainfall. Except far western Nepal, most of the parts of the country received delayed rainfall during winter. According to the Department of Hydrology and Meteorology, the country received the lowest precipitation this winter in the last 14 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 Unicode MS","sans-serif"">The department further stated that pre-monsoon has started from March 1 with the exit of winter. The pre-monsoon period is characterized by thunder and lightning coupled with gusty winds and the possibility of hailstone and rain towards the afternoon. The pre-monsoon period will last for three months. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17051', 'image' => '20230320110708_rainnnnnnnnn.jpg', 'article_date' => '2023-03-20 11:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17315', 'article_category_id' => '1', 'title' => 'Over 5,00000 Labour Permits Issued In Eight Months ', 'sub_title' => '', 'summary' => 'The number of youths who received labour permits for foreign employment has crossed 5,00000 in the eight months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px">March 20: The number of youths who received labour permits for foreign employment has crossed 5,00000 in the eight months of the current fiscal year. </span></p> <p><span style="font-size:18px">Data at the Department of Foreign Employment show that as many as 5,40,675 youths obtained labour permit for foreign employment in the eight months of the current fiscal year.</span></p> <p><span style="font-size:18px">This is 33 per cent more than the last year’s labour permits issued by the departmnet during the same period. The Department of Foreign Employment had issued 4,04,963 labour permits duirng the same period last fiscal year.</span></p> <p><span style="font-size:18px">The total number of labour permits issued by the department for foreign employment was 6,30,090 last fiscal year. The Department of Foreign Employment estimates that the number will increase this fiscal. </span></p> <p><span style="font-size:18px">“Department of Foreign Employment estimates labour permits around 7,00000 to 8,00000 will be issued for foreign employment in the current fiscal year,” said Director General Umakant Acharya of the department.</span></p> <p><span style="font-size:18px">Acharya said trend of people going for foreign employment post-COVID-19 pandemic has increased. “Malaysia has increased the salary of labourers, which has led to the rise of people obtaining labour permit,” Acharya said.</span></p> <p><span style="font-size:18px">As per the department, Malaysia is the most preferred destination among Nepali youths for foreign employment. A total of 19,842 persons received the labour permit for Malaysia the last month alone. Likewise, the department issued 11,303labour permits for Qatar. </span></p> <p><span style="font-size:18px">For foreign employment in UAE, 9,795 took the labour permit while 9,503 received the permit for foreign employment in Saudia Arabia in the last month alone.</span></p> <p><span style="font-size:18px">According to Acharya, the number of youths receiving labour permits for foreign job in European countries such as Malta, Turkey, Romania, Croatia is also increasing. In the last month alone, the department issued 1070 labour permits for Romania, 557 for Croatia, 21 for Turkey and 282 for Malta.</span></p> <p><span style="font-size:18px">A total of 63,029 individuals received labour permits for foreign job in the first month of the current fiscal year while 76,403 Nepalis obtained permits for foriegn employment in the second month.</span></p> <p><span style="font-size:18px">Likewise, the department issued as many as 62,706, 78370, 68564, 65464, 64,284 and 61,000 labour permits in the third, fourth, fifth, sixth, seventh and eighth months of the current fiscal year.</span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17050', 'image' => '20230320070419_collage (29).jpg', 'article_date' => '2023-03-20 06:38:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '17314', 'article_category_id' => '218', 'title' => 'Shangrila Development Bank’s CEO Shrestha Elected Chairman of DBAN ', 'sub_title' => '', 'summary' => 'Chief Executive Officer Suyog Shrestha of Shangrila Development Bank has been unanimously elected as the Chairman of Development Bankers Association Nepal. DBAN’s 17th Annual General Meeting held in Chitwan unanimously appointed Suyog Shrestha as the Chairman of the association on March 17. ', 'content' => '<p><span style="font-size:18px">March 19: Chief Executive Officer Suyog Shrestha of Shangrila Development Bank has been unanimously elected as the Chairman of Development Bankers Association Nepal. DBAN’s 17th Annual General Meeting held in Chitwan unanimously appointed Suyog Shrestha as the Chairman of the association on March 17. </span></p> <p><span style="font-size:18px">Likewise, Mahalaxmi BikasBank’s Chief Executive Officer Bodhraj Devkota has been appointed Vice-chair of the DBAN. Sindhu Bikas Bank’s CEO Ram Kumar Giri, and Lumbini Bikas Bank’s CEO Naresh Singh Bohora have been elected as Secretary and Treasurer respectively.</span></p> <p><span style="font-size:18px">Other members of the DBAN include Shine Resunga Development Bank’s CEO Prakash Poudel, Jyoti Bikash Bank’s CEO Shree Chandra Bhatt and Excel Development Bank’s CEO Dr Indra Kattel. </span></p> <p><span style="font-size:18px">Newly-elected DBAN Chairman Shrestha pledged to work for the rights and welfare of the development banks. “Though the number of development banks has fallen from 90 to 17, development banks’ market occupancy has not dropped. We will have to work together to do more and better in the days to come,” Shrestha added. </span><br /> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17049', 'image' => '20230319053835_collage - 2023-03-19T173455.828.jpg', 'article_date' => '2023-03-19 17:36:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17313', 'article_category_id' => '1', 'title' => 'Payments through QR Code Increasing', 'sub_title' => '', 'summary' => 'March 19: The business through QR transaction is increasing in recent years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">March 19: The business through QR transaction is increasing in recent years. QR transactions have increased notably after the Nepal Rastra Bank (NRB) implemented a system of free payment through QR code.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Nowadays, payments are made through QR for buying vegetables to paying college fees, paying insurance fees, making offerings to temples among others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the central bank, financial transactions through QR code in the first seven months of the current fiscal year stood at Rs 117.46 billion. The transaction this year is 179.21 percent more than that in the same period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the corresponding period of last fiscal year, the turnover from QR transactions was Rs 42.7 billion. In the fiscal year 2077/78, the turnover from QR was Rs 20.28 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Guru Prasad Paudel, executive director of the Payments System Department of the NRB, says that the business is increasing after the central bank implemented the policy of free payment through QR.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“At present, more than 1.6 million merchants have QR stands across the country. Therefore, it seems that in the near future, the business through QR will increase even more,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Manoj Mehta, Chief Executive Officer of My-Pay, says that although the business through QR has increased, most of the businesses are concentrated only in the Kathmandu Valley.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, he argues that it is necessary to bring a policy that all kinds of payments made in government offices should be made only through QR to encourage business through QR throughout the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As the internet is mandatory to pay through QR, users are forced to pay using the mobile data at a high cost.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Therefore, it seems that if we give some concessions on the Internet when making payments through QR, the business will increase,'' says Mehta.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17048', 'image' => '20230319043337_1679054370.jpg', 'article_date' => '2023-03-19 16:33:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17309', 'article_category_id' => '1', 'title' => 'Tourists Stranded in Dhorpatan due to Snowfall', 'sub_title' => '', 'summary' => 'March 19: Snowfall has been reported for the first time in Dhorpatan of Baglung this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">March 19: Snowfall has been reported for the first time in Dhorpatan of Baglung this year. After a long period of drought, snowfall occurred here since Saturday night along with rain. The chilling cold has increased due to the snowfall. Shyamalal Ghimire, a local hotelier, said that Dhorpatan valley has been covered in a white blanket of snow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">It has been reported that the snowfall has made life difficult for the locals. Ghilmire said that the mobile network did not work on Saturday night due to the snow and it started working after the sun rose on Sunday morning. According to Ghimire, locals and tourists coming down from Dhorpatan to Burtibang were stranded at Dhorpatan after the road was blocked by snow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Yesterday, a bus full of tourists came from Butwal but they could not travel ahead of Faleghar due to snow, later they were brought by a pick-up", said Ghimire, "Now the sun is shining, the snow is slowly melting, all the roads will be opened soon."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Another local Kul Bahadur BK said that it was difficult to feed the horses and livestock due to the snowfall. Last year it snowed four to five times in January and February, but this year it snowed for the first time in Dhorpatan valley, said BK. -- RSS</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17047', 'image' => '20230319034655_dhorpatann.jpg', 'article_date' => '2023-03-19 15:46:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17308', 'article_category_id' => '1', 'title' => 'Per Day Spending of Tourists Estimated to Increase to USD 100', 'sub_title' => '', 'summary' => 'March 19: In 2018 and 2019, tourists came to Nepal in huge numbers.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">March 19: In 2018 and 2019, tourists came to Nepal in huge numbers. Compared to those two years, although the number of tourists was less in 2020, the daily expenditure of tourists was more. According to the data of the Nepal Tourism Board, a total of 230,085 tourists came to Nepal in 2020. In that year, each tourist spent an average of US dollar 65 per day.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In previous years, a tourist spent an average of USD 48 per day, according to the data. In 2019, 1.1 million foreign tourists visited Nepal. According to the board's data, the average cost per tourist per day back then was US dollar 48.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The lockdown started in Nepal from April 2020. Tourists coming to Nepal in 2020 had spent more time than other years. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the experts, the spending of tourists coming to Nepal was high due to the increase in the duration of their stay and food expenses, even though the number of tourists was low. The Nepal Tourism Board has estimated that the rate of daily spending by foreign tourists in Nepal may have reached USD 100 in 2022.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"A survey is being conducted to see how much the tourist's expenses have increased," Maniraj Lamichhane, the director of the board, said. To further confirm this, a sample survey has been started by creating a questionnaire.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, this survey includes questionnaires such as the expenses incurred when coming to Nepal by purchasing a package tour, whether the package was purchased through a hotel, how much was spent on transportation, and on food.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">These questions will be asked to tourists at the airport. Tourists are also involved in activities outside the package. He expects that the rate of expenditure will increase as expenses other than packages are also counted in the current survey.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank is currently estimating the expenditure of tourists on the basis of foreign currency exchange of the hotel and accommodation sector. Now, a separate survey will be conducted to cover data on expenditure made by tourists in informal areas of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tourists also spend money in small tea shops that are operating without registration along the trekking route. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"That amount is not counted in expenditure," he said, "At present, how much has been spent in which area does not appear in the database. In the upcoming survey, the data will be collected by questioning the sources of spending by tourists.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deepakraj Joshi, the former chief executive officer of the board, said that the expenditure of tourists has recently increased. After the Covid, natural destinations have become the choice of tourists.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that although the overall income will increase with the rise in arrival of tourists, per day spending of tourist on average will not increase. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the number of tourists increases, the average amount spent has decreased in some cases," Joshi said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, most of the money spent on the tourist packages to Nepal will be spent on tickets.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also suggested that in the current competitive situation, the state should pay attention to increase new activities and services and increase the expenditure. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17046', 'image' => '20230319025557_Tourist.jpg', 'article_date' => '2023-03-19 14:53:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17307', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches All-time High at Rs 110,000 Per Tola', 'sub_title' => '', 'summary' => 'March 19: The price of gold has set a new record after an increase in the price of the precious yellow metal by Rs 2900 per tola (11.66 grams) on Sunday.', 'content' => '<h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 19: </span></span></span></span><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The price of gold has set a new record after an increase in the price of the precious yellow metal by Rs 2900 per tola (11.66 grams) on Sunday. </span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Association, the price of gold on Sunday has been set at Rs 110,000 per tola. Last Friday, the price of gold was Rs 107,100 per tola.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The last time the price of gold reached the highest ever was on February 12, when the price was recorded at Rs 107,500 per tola, according to the Federation of Gold and Silver Dealers Association.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Since then, the price of gold has been fluctuating.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last few days, the price of gold has been constantly on the rise. Last week, the price of gold increased by Rs 3,600 per tola.</span></span></span></span></h1> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17045', 'image' => '20230319013942_gold newwww.jpg', 'article_date' => '2023-03-19 13:38:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17306', 'article_category_id' => '1', 'title' => 'Call for Establishing Fertilizer Factory in Nepal', 'sub_title' => '', 'summary' => 'March 19: Lack of chemical fertilizers is a major problem in Nepal, an agricultural country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 19: Lack of chemical fertilizers is a major problem in Nepal, an agricultural country. After the government cut the subsidy given to farmers for the purchase of chemical fertilizers a few days ago, farmers are protesting saying that there will be more problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, the issue of opening a fertilizer factory in Nepal has come up time and again for a long-term solution to this problem.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders are divided on whether to open nitrogen-based fertilizer factory (urea production industry) or phosphate blending based fertilizer factory (balanced fertilizer industry) on the other side. Stakeholders say that it is more appropriate to establish a factory based on phosphate blending for a country like Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, central president of the Fertilizer Association of Nepal, who has worked in the field of chemical fertilizers for a long time says that a fertilizer factory based on phosphate blending is the most suitable for a country like Nepal. Experts say that when setting up a nitrogen-based factory (urea production factory), about 800 megawatts of electricity will be needed per day and natural gas will also be consumed in large quantities. Even to set up a small factory that produces 46 percent nitrogen (urea), more than a billion rupees is required as investment. He opined, “This produces more fertilizer than we need, but our market is small. Therefore, in the current situation, this issue seems to be a little impossible.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, there is a possibility of establishing a fertilizer factory based on phosphate blending in Nepal with the participation of the private sector to produce DAP by mixing nitrogen and phosphate. Various studies revealed that it can be established with an investment of around Rs 100 billion. According to a study conducted by the Investment Board Nepal in 2015, it will cost Rs 75.58 billion to open a nitrogen-based fertilizer factory in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Dallakoti, different types of fertilizers can be produced from fertilizer factories based on phosphate blending. Not all crops need nitrogen. Vegetables, rice, wheat and other crops need not only nitrogen but mixed fertilizers. In the fertilizer produced from such a factory, all elements including nitrogen, phosphorus, potash, iron, and boron, copper are mixed in a balanced manner in one fertilizer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Fertilizers required for rice, corn, wheat, pulses, fruits, mustard and other crops can be produced from such a factory. Fertilizer factories based on phosphate blending are also established in countries like India, Pakistan, and Bangladesh. More than 30 of such factories have been established in India alone.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that for a long-term solution to the fertilizer problem, the government should improve the Fertilizer Policy 2053 and involve the private sector in it and think about establishing a fertilizer factory based on phosphate blending.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17044', 'image' => '20230319120036_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2023-03-19 11:59:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17305', 'article_category_id' => '1', 'title' => 'Farmers Unable to Sell Paddy to FMTCL due to Lack of Bank Accounts', 'sub_title' => '964 Quintals of Paddy Purchased in 8 Months', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 19: Farmers in the terai region are unable to sell paddy to the government because they need bank account to be eligible to sell their produce.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition to that, they are also required to show land ownership certificate of at least one bigha and 10 kathhas (1 hectare approx.) of land in order to sell paddy to the state-owned Food Management and Trading Company Limited.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ram Pukar Mandal, information officer of Janakpur-based regional office of the Food Management and Trading Company Limited (FMTCL), says that most of the farmers are not able to sell rice to the company because they cultivate rice on other people's land.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The farmers could not complete the process to sell rice,” said Mandal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The regional office of the (FMTCL), Janakpurdham has not been able to purchase paddy as per the target in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the target is to purchase 15,000 quintals of paddy in the current fiscal year, the company has purchased only 964.25 quintals of paddy till mid-March. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information Officer Ram Pukar Mandal said that in the current fiscal year, paddy worth Rs 3,016,174 will be purchased. He also admitted that the FMTCL could not be purchase paddy this year as per the target.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mandal argued that because of the decision of Agriculture Knowledge Center that at least 10 quintals of paddy should be bought per farmer, the paddy produced by lower-class farmers could not be bought. He said that farmers were unable to come to sell rice to the company because of the procedural hurdles.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17043', 'image' => '20230319104530_paddyyy-transformed.jpeg', 'article_date' => '2023-03-19 10:44:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17304', 'article_category_id' => '268', 'title' => 'Nepal And India Agree To Prepare Modality To Export Electricity to Indian States Via Bihar', 'sub_title' => '', 'summary' => 'Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">March 19: Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The 14th meeting of the Nepal-India Power Exchange Committee concluded on March 17 at New Delhi, India, decided to prepare the modality for power export from Nepal to various states in India via Bihar within a month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The meeting co-chaired by Executive Director of the Nepal Electricity Authority Kulman Ghising and member of Power System member of the Central Electricity Authority of India Ashok Kumar Rajput agreed to finalize the modality within a month for the same. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The agreement has ensured the additional market for the sale of surplus electricity during rainy season", Executive Director Ghising said. Kataiya (Bihar)-Kushaha (Nepal) and Raxaul-Parawanipur 132-KV transmission line are connected with Bihar.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">As per the Power Exchange Agreement, the meeting has determined new the price of per unit electricity at Rs 11.54 for the fiscal year 2022/23. The new rate is not on a take-or-pay modality. We have to pay the rate, only if we purchase electricity. This rate is cheaper than the current Indian market and we will get the same rate even during export;” said Ghising. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">When the NEA made its first-ever effort to buy electricity from India through competitive bidding for long-term power supply in December last year, the Indian companies had proposed to sell power to Nepal at Rs 7.50 and Rs 8.70 per unit for February-March and April-May, respectively. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The prices they quoted are higher than the rate agreed between Nepal and India during the Power Exchange Committee meeting.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Buying electricity from India’s competitive market has been even more expensive. Up to INR 12 per unit has to be paid for the power on which an additional 1.5 Indian rupees is added towards tariff for transmission charges, according to the NEA. “Hence, the rate fixed, at present, is cheaper than others,” the power utility was quoted as saying in the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The NEA has been importing electricity from India’s Bihar, Uttar Pradesh and Uttarakhand as per the electricity exchange agreement. Only Bihar and Uttar Pradesh are connected to Nepal through 132 KV transmission lines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal imports electricity from India under three separate agreements. Nepal can import power from India based on the power exchange agreement, Mahakali Treaty and open competition in the Indian power market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The electricity purchased in the open market is being imported through the 400kV Dhalkebar-Muzaffarpur cross-border double-circuit transmission line. Nepal also sells electricity in the Indian market through this power line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal Electricity Authority traded surplus electricity worth Rs 8.4 billion to Indian since the beginning of the current fiscal year 2022/23 to till the date. </span></span></span></p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17042', 'image' => '20230319064131_collage (28).jpg', 'article_date' => '2023-03-19 06:33:43', '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' => '17321', 'article_category_id' => '1', 'title' => 'Police Raid on Industry Draws Flak', 'sub_title' => '', 'summary' => 'March 20: A police raid on an industry in Adarshan Nagar of Birgunj on the charge of evading customs duty has drawn widespread criticism. ', '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"">March 20: A police raid on an industry in Adarshan Nagar of Birgunj on the charge of evading customs duty has drawn widespread criticism. After the police failed to find the evidence of revenue evasion, they forwarded the matter to the Revenue Investigation Department. </span></span></span></span></p> <p><span style="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 police opened the seal on the industry after three days. The next day, at the request of the police, a team from the Revenue Investigation Office, Pathalaiya raided the industry and took possession of the documents, raw materials and samples of ready-made products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the instructions of the District Police Office, Parsa, Ward Police Office Birta raided Sweet Mart Food Industries located in Birganj-</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""> Adarshnagar on March 9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The police claimed that they received information about suspicious dealings related to the customs duty on the raw materials (and gum) used by the chewing gum industry. The Revenue Investigation Department has now started the investigation on the allegation of revenue evasion by the industry by maintaining different customs tariff rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Superintendent of Police (SP) Komal Shah of Parsa said that the revenue investigation is being carried out by the Revenue Investigation Department - the agency responsible for investigation of revenue leakages. </span></span></span></span></p> <p><span style="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 investigation is being carried out in coordination with the police and Revenue Investigation Department,” said SP Shah. He said that now it is the job of the department to determine whether or not it is a valid issue.</span></span></span></span></p> <p><span style="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 revenue investigation officer says that the department and the police should have conducted the raids jointly, but the police arrived first and spoiled the process.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Niranjan Agarwal, the owner of the industry, claims that the raw materials have passed the inspection and there was no kind of revenue fraud. He claimed that there could not be any leakage as the inspection will be passed only after the physical examination of documents and related items by the customs 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"">Agarwal said that he was acquitted by the court even four</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">years ago when the police filed a case against him on the charge of copyright infringement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"I have not cheated any kind of revenue. There are three other industries in Birgunj that I import in the same way. However, the police have repeatedly discouraged me," he complained. Out of the eight chewing gum manufacturing industries in Nepal, three are in Birgunj. Agarwal said that all the industries are importing raw materials with the same process and customs rate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17056', 'image' => '20230320014356_1679267216.jpg', 'article_date' => '2023-03-20 13:43:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17320', 'article_category_id' => '1', 'title' => '260 Borrowers of Microfinance Companies Blacklisted in Eight Months', 'sub_title' => '', 'summary' => 'March 20: In the first eight months of the current fiscal year, more than 250 borrowers of microfinance companies have been blacklisted by the Credit Information Center.', '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"">March 20: In the first eight months of the current fiscal year, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">250</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> borrowers of microfinance companies have been blacklisted by the Credit Information Center. The number of borrowers who are blacklisted by the center has increased at a time when the movement of non-payment of loans is intensifying in the context that microfinance companies are charging high interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the directives of Nepal Rastra Bank (NRB), the microfinance companies have started exchanging loan investment information with the center from the current fiscal year (FY). There is a provision that microfinance institutions should recommend blacklisting borrowers who default on loans of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000. If the organization wants, they can also recommend blacklisting borrowers who take loans of less than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000.</span></span></span></span></p> <p><span style="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 this arrangement, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">260</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> borrowers were blacklisted between mid-July to mid-February on the recommendation of microfinance companies. According to the data published by the center, only one debtor was in the blacklist in the first month of the current fiscal year (mid-July to mid-August) and three in the second month (mid-August to mid-September), and since then it has been increasing. </span></span></span></span></p> <p><span style="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 center informed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> debtors were blacklisted in mid-September to mid-October, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-October to mid-November, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">53</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-November to mid-December, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">97</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-December to mid-January, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-January to mid-February and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in mid-February to mid-March.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">People who are blacklisted by the information center cannot open accounts and take loans from banks and financial institutions. There is a provision that the concerned organization should recommend to the information center to remove the blacklisted person from the blacklist after paying the entire interest of the loan.</span></span></span></span></p> <p><span style="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 eliminate the duplication of credit and credit abuse seen in microfinance, the central bank had instructed microfinance institutions to become members of the center two years ago and exchange information. Accordingly, there is a provision that microfinance must obtain credit information from the center about borrowers/customers before disbursing loans, renewing old loans, restructuring or rescheduling loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prakash Raj Sharma, president of the Microfinance Bankers Association, said that as per the instructions of the central bank, all microfinance institutions are members of the information center and are exchanging information on loan investments. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Now we send all microfinance loans to the information center," he said, "Since all the institutions started exchanging information, the number of bad borrowers in the blacklist has also started to increase."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Non-performing loans of organizations are increasing as the recovery of microfinances is affected due to the movement started with the demand of loan waiver following the decline in the ability of the customers to pay the loan installments. </span></span></span></span></p> <p><span style="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 NRB, the non-performing loans of microfinance institutions reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4.68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent by the second quarter of the current year. Until a year ago, the non-performing loans of microfinance companies was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.94</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"">At present, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> microfinance institutions have formed </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> groups and are providing financial services to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,988,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. Among them, </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"">.</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 members have taken loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By creating a group of poor and disadvantaged people who do not have access to banks and financial institutions, microfinance has been giving loans from the collective deposits and without collateral. Microfinance institutions are allowed to invest up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 per member in collective deposits and up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million by keeping property as collateral.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, the microfinance institutions are being criticized for lending more than they need to the needy and being unable to repay them. Keeping this in mind, the central bank has issued instructions on February 22 that a person can take loans from only one institution and those who have taken a loan from a microfinance company cannot take loans from banks and financial institutions.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-21', 'keywords' => '', 'description' => '', 'sortorder' => '17055', 'image' => '20230320012334_badloan.jpg', 'article_date' => '2023-03-20 13:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17319', 'article_category_id' => '1', 'title' => 'Government Seeks Suggestions and Feedback on Revenue Policy ', 'sub_title' => '', 'summary' => 'March 20: The government has sought feedback and suggestions from all stakeholders on the revenue policy to be included in the financial act for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 20: The government has sought feedback and suggestions from all stakeholders on the revenue policy to be included in the financial act for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Ministry of Finance has appealed to all concerned to provide their feedback by April 3 on matters concerning customs duty, value added tax, income tax, excise duty, non-tax revenue, and revenue leakage control. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice was issued by the Revenue Advisory Committee, which has been working as a mechanism to give feedback and suggestions on revenue management to the government. Based on suggestions and feedback received from various quarters, the committee will submit a report to the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Suggestions are also being sought on enacting new tax laws, repealing if necessary any legal provisions and changing tax rates. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Finance also informed that nine different thematic sub-committees have been formed to prepare the report of the Revenue Advisory Committee. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17054', 'image' => '20230320124417_finance_ministry_copy1.jpg', 'article_date' => '2023-03-20 12:43:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17318', 'article_category_id' => '1', 'title' => 'Government Starts Issuing Climbing Permits for Spring Season', 'sub_title' => '', 'summary' => 'March 20: With the onset of the spring season, which is considered ideal for mountain expedition in Nepal, the Department of Tourism has started issuing climbing permits to the tourists.', '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"">March 20: With the onset of the spring season, which is considered ideal for mountain expedition in Nepal, the Department of Tourism has started issuing climbing permits to the tourists. As of Sunday, 50 climbers from 25 countries have already received permits.</span></span></span></span></p> <p><span style="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 notification issued by the Department of Tourism on Sunday, the foreigners have taken permission to climb Annapurna-1, Surma Sarovar, Pangri Goldumba, Manaslu and Thorong Peak. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among them, 17 are women and 33 are men. According to the department, so far most people have taken permission to climb Annapurna-1. A total of 34 people, including 12 women, have received permission to climb the mountain.</span></span></span></span></p> <p><span style="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 department has collected revenue worth Rs 12.89 million from issuing the climbing permits. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Climbers from Australia, Austria, Brazil, British Virgin Island, Bulgaria, Canada, China, France, Georgia, India, Ireland, Japan, Macedonia, Norway, Pakistan, Poland, Qatar, Romania, Russia, Serbia, Singapore, South Korea, Spain, Britain and the United States have taken permission for the spring 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"">Ascent of Mount Everest is preferred more in the spring season when the weather is more favourable. Nepal collects the most revenue from Mount Everest. A mountaineer must complete the ascent within 75 days after the department issues climbing permit.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17053', 'image' => '20230320113850_1679267152.jpg', 'article_date' => '2023-03-20 11:37:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17316', 'article_category_id' => '1', 'title' => 'PM Dahal Taking Vote of Confidence Today ', 'sub_title' => '', 'summary' => 'March 20: Prime Minister Pushpa Kamal Dahal is taking vote of confidence from the House of Representatives today (March 20). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 20: Prime Minister Pushpa Kamal Dahal is taking vote of confidence from the House of Representatives today (March 20). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal is taking vote of confidence from the parliament (lower house) for the second second time after becoming the prime minister following the November 20 election. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Spokesperson of the Parliament-Secretariat Dasharath Dhamala informed that Prime Minister Dahal is scheduled to take vote of trust from the HoR meeting which will convene at 1.00 pm today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A situation was emerged for the PM to secure vote of confidence with the erstwhile ruling coalition partners, CPN-UML and Rastriya Prajatantra Party, quitting the government regarding the dispute over the candidates for the post of president and vice-president. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a constitutional provision that the prime minister should take vote of confidence within 30 days after political parties supporting the government withdraws the support. In consistent with the provision, the incumbent prime minister has to take vote of confidence within March 26. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that Chairperson of CPN (Maoist Centre) Pushpa Kamal Dahal was appointed the prime minister of Nepal on December 25, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first innings, Dahal had secured over 99 percent vote of confidence from the parliament on January 11, 2023. The partners of new coalition formed of late in the context of presidential and vice-presidential elections have agreed to give vote of confidence to PM Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with CPN (Maoist Centre), Nepali Congress, Rastriya Swatantra Party, Janata Samajwadi Party, Unified Socialist, Janamat Party, Loktantrik Samajwadi Party, Nagarik Unmukti Party and Rastriya Janamorcha among others are expected to support PM Dahal in securing vote of confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Dahal needs 138 votes for securing trust from the parliament. In the HoR, Maoist Centre has 32 members, Nepali Congress (88), RSP (19), JSP (11), Socialist (10), Janamat Party (6), LSP (4), Nagarik Unmukti (4) and Janamorcha (1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, UML has (79), RPP (14), independent (2), Nepal Peasants Workers Party (1) and Aam Janata Party (1) in the HoR. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17052', 'image' => '20230320105431_6F8A9729 - Copy.jpg', 'article_date' => '2023-03-20 10:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17317', 'article_category_id' => '1', 'title' => 'Westerly Winds Bring Rainfall and Thunder across the Country ', 'sub_title' => '', 'summary' => 'March 20: The country is currently witnessing the impacts of the westerly winds along with the local wind system. It has resulted in partial to general changes in weather situation across the country. ', '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 Unicode MS","sans-serif"">March 20: The country is currently witnessing the impacts of the westerly winds along with the local wind system. It has resulted in partial to general changes in weather situation across 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:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Weather Forecasting Division, rainfall with thunderstorms and lightning is now occurring in some parts of Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces. </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 Unicode MS","sans-serif"">Later in the afternoon today (March 20), light to moderate rainfall with thunders and lightning is predicted in some mountainous areas of Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces. Likewise, there will be general to complete changes in the weather system during the day today. </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 Unicode MS","sans-serif"">There are chances of rainfall with thunders and lightning in some areas of mountainous belt and Terai region tonight, according to weather forecasting bulletin published by the division. </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 Unicode MS","sans-serif"">Kathmandu Valley has witnessed general changes since early morning today. There is a possibility of light rainfall in Kathmandu in the afternoon. </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 Unicode MS","sans-serif"">This winter, most of the country had less than average rainfall. Except far western Nepal, most of the parts of the country received delayed rainfall during winter. According to the Department of Hydrology and Meteorology, the country received the lowest precipitation this winter in the last 14 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 Unicode MS","sans-serif"">The department further stated that pre-monsoon has started from March 1 with the exit of winter. The pre-monsoon period is characterized by thunder and lightning coupled with gusty winds and the possibility of hailstone and rain towards the afternoon. The pre-monsoon period will last for three months. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17051', 'image' => '20230320110708_rainnnnnnnnn.jpg', 'article_date' => '2023-03-20 11:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17315', 'article_category_id' => '1', 'title' => 'Over 5,00000 Labour Permits Issued In Eight Months ', 'sub_title' => '', 'summary' => 'The number of youths who received labour permits for foreign employment has crossed 5,00000 in the eight months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px">March 20: The number of youths who received labour permits for foreign employment has crossed 5,00000 in the eight months of the current fiscal year. </span></p> <p><span style="font-size:18px">Data at the Department of Foreign Employment show that as many as 5,40,675 youths obtained labour permit for foreign employment in the eight months of the current fiscal year.</span></p> <p><span style="font-size:18px">This is 33 per cent more than the last year’s labour permits issued by the departmnet during the same period. The Department of Foreign Employment had issued 4,04,963 labour permits duirng the same period last fiscal year.</span></p> <p><span style="font-size:18px">The total number of labour permits issued by the department for foreign employment was 6,30,090 last fiscal year. The Department of Foreign Employment estimates that the number will increase this fiscal. </span></p> <p><span style="font-size:18px">“Department of Foreign Employment estimates labour permits around 7,00000 to 8,00000 will be issued for foreign employment in the current fiscal year,” said Director General Umakant Acharya of the department.</span></p> <p><span style="font-size:18px">Acharya said trend of people going for foreign employment post-COVID-19 pandemic has increased. “Malaysia has increased the salary of labourers, which has led to the rise of people obtaining labour permit,” Acharya said.</span></p> <p><span style="font-size:18px">As per the department, Malaysia is the most preferred destination among Nepali youths for foreign employment. A total of 19,842 persons received the labour permit for Malaysia the last month alone. Likewise, the department issued 11,303labour permits for Qatar. </span></p> <p><span style="font-size:18px">For foreign employment in UAE, 9,795 took the labour permit while 9,503 received the permit for foreign employment in Saudia Arabia in the last month alone.</span></p> <p><span style="font-size:18px">According to Acharya, the number of youths receiving labour permits for foreign job in European countries such as Malta, Turkey, Romania, Croatia is also increasing. In the last month alone, the department issued 1070 labour permits for Romania, 557 for Croatia, 21 for Turkey and 282 for Malta.</span></p> <p><span style="font-size:18px">A total of 63,029 individuals received labour permits for foreign job in the first month of the current fiscal year while 76,403 Nepalis obtained permits for foriegn employment in the second month.</span></p> <p><span style="font-size:18px">Likewise, the department issued as many as 62,706, 78370, 68564, 65464, 64,284 and 61,000 labour permits in the third, fourth, fifth, sixth, seventh and eighth months of the current fiscal year.</span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-03-20', 'modified' => '2023-03-20', 'keywords' => '', 'description' => '', 'sortorder' => '17050', 'image' => '20230320070419_collage (29).jpg', 'article_date' => '2023-03-20 06:38:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '17314', 'article_category_id' => '218', 'title' => 'Shangrila Development Bank’s CEO Shrestha Elected Chairman of DBAN ', 'sub_title' => '', 'summary' => 'Chief Executive Officer Suyog Shrestha of Shangrila Development Bank has been unanimously elected as the Chairman of Development Bankers Association Nepal. DBAN’s 17th Annual General Meeting held in Chitwan unanimously appointed Suyog Shrestha as the Chairman of the association on March 17. ', 'content' => '<p><span style="font-size:18px">March 19: Chief Executive Officer Suyog Shrestha of Shangrila Development Bank has been unanimously elected as the Chairman of Development Bankers Association Nepal. DBAN’s 17th Annual General Meeting held in Chitwan unanimously appointed Suyog Shrestha as the Chairman of the association on March 17. </span></p> <p><span style="font-size:18px">Likewise, Mahalaxmi BikasBank’s Chief Executive Officer Bodhraj Devkota has been appointed Vice-chair of the DBAN. Sindhu Bikas Bank’s CEO Ram Kumar Giri, and Lumbini Bikas Bank’s CEO Naresh Singh Bohora have been elected as Secretary and Treasurer respectively.</span></p> <p><span style="font-size:18px">Other members of the DBAN include Shine Resunga Development Bank’s CEO Prakash Poudel, Jyoti Bikash Bank’s CEO Shree Chandra Bhatt and Excel Development Bank’s CEO Dr Indra Kattel. </span></p> <p><span style="font-size:18px">Newly-elected DBAN Chairman Shrestha pledged to work for the rights and welfare of the development banks. “Though the number of development banks has fallen from 90 to 17, development banks’ market occupancy has not dropped. We will have to work together to do more and better in the days to come,” Shrestha added. </span><br /> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17049', 'image' => '20230319053835_collage - 2023-03-19T173455.828.jpg', 'article_date' => '2023-03-19 17:36:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17313', 'article_category_id' => '1', 'title' => 'Payments through QR Code Increasing', 'sub_title' => '', 'summary' => 'March 19: The business through QR transaction is increasing in recent years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">March 19: The business through QR transaction is increasing in recent years. QR transactions have increased notably after the Nepal Rastra Bank (NRB) implemented a system of free payment through QR code.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Nowadays, payments are made through QR for buying vegetables to paying college fees, paying insurance fees, making offerings to temples among others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the central bank, financial transactions through QR code in the first seven months of the current fiscal year stood at Rs 117.46 billion. The transaction this year is 179.21 percent more than that in the same period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the corresponding period of last fiscal year, the turnover from QR transactions was Rs 42.7 billion. In the fiscal year 2077/78, the turnover from QR was Rs 20.28 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Guru Prasad Paudel, executive director of the Payments System Department of the NRB, says that the business is increasing after the central bank implemented the policy of free payment through QR.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“At present, more than 1.6 million merchants have QR stands across the country. Therefore, it seems that in the near future, the business through QR will increase even more,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Manoj Mehta, Chief Executive Officer of My-Pay, says that although the business through QR has increased, most of the businesses are concentrated only in the Kathmandu Valley.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, he argues that it is necessary to bring a policy that all kinds of payments made in government offices should be made only through QR to encourage business through QR throughout the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As the internet is mandatory to pay through QR, users are forced to pay using the mobile data at a high cost.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Therefore, it seems that if we give some concessions on the Internet when making payments through QR, the business will increase,'' says Mehta.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17048', 'image' => '20230319043337_1679054370.jpg', 'article_date' => '2023-03-19 16:33:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17309', 'article_category_id' => '1', 'title' => 'Tourists Stranded in Dhorpatan due to Snowfall', 'sub_title' => '', 'summary' => 'March 19: Snowfall has been reported for the first time in Dhorpatan of Baglung this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">March 19: Snowfall has been reported for the first time in Dhorpatan of Baglung this year. After a long period of drought, snowfall occurred here since Saturday night along with rain. The chilling cold has increased due to the snowfall. Shyamalal Ghimire, a local hotelier, said that Dhorpatan valley has been covered in a white blanket of snow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">It has been reported that the snowfall has made life difficult for the locals. Ghilmire said that the mobile network did not work on Saturday night due to the snow and it started working after the sun rose on Sunday morning. According to Ghimire, locals and tourists coming down from Dhorpatan to Burtibang were stranded at Dhorpatan after the road was blocked by snow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Yesterday, a bus full of tourists came from Butwal but they could not travel ahead of Faleghar due to snow, later they were brought by a pick-up", said Ghimire, "Now the sun is shining, the snow is slowly melting, all the roads will be opened soon."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Another local Kul Bahadur BK said that it was difficult to feed the horses and livestock due to the snowfall. Last year it snowed four to five times in January and February, but this year it snowed for the first time in Dhorpatan valley, said BK. -- RSS</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17047', 'image' => '20230319034655_dhorpatann.jpg', 'article_date' => '2023-03-19 15:46:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17308', 'article_category_id' => '1', 'title' => 'Per Day Spending of Tourists Estimated to Increase to USD 100', 'sub_title' => '', 'summary' => 'March 19: In 2018 and 2019, tourists came to Nepal in huge numbers.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">March 19: In 2018 and 2019, tourists came to Nepal in huge numbers. Compared to those two years, although the number of tourists was less in 2020, the daily expenditure of tourists was more. According to the data of the Nepal Tourism Board, a total of 230,085 tourists came to Nepal in 2020. In that year, each tourist spent an average of US dollar 65 per day.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In previous years, a tourist spent an average of USD 48 per day, according to the data. In 2019, 1.1 million foreign tourists visited Nepal. According to the board's data, the average cost per tourist per day back then was US dollar 48.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The lockdown started in Nepal from April 2020. Tourists coming to Nepal in 2020 had spent more time than other years. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the experts, the spending of tourists coming to Nepal was high due to the increase in the duration of their stay and food expenses, even though the number of tourists was low. The Nepal Tourism Board has estimated that the rate of daily spending by foreign tourists in Nepal may have reached USD 100 in 2022.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"A survey is being conducted to see how much the tourist's expenses have increased," Maniraj Lamichhane, the director of the board, said. To further confirm this, a sample survey has been started by creating a questionnaire.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, this survey includes questionnaires such as the expenses incurred when coming to Nepal by purchasing a package tour, whether the package was purchased through a hotel, how much was spent on transportation, and on food.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">These questions will be asked to tourists at the airport. Tourists are also involved in activities outside the package. He expects that the rate of expenditure will increase as expenses other than packages are also counted in the current survey.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank is currently estimating the expenditure of tourists on the basis of foreign currency exchange of the hotel and accommodation sector. Now, a separate survey will be conducted to cover data on expenditure made by tourists in informal areas of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tourists also spend money in small tea shops that are operating without registration along the trekking route. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"That amount is not counted in expenditure," he said, "At present, how much has been spent in which area does not appear in the database. In the upcoming survey, the data will be collected by questioning the sources of spending by tourists.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deepakraj Joshi, the former chief executive officer of the board, said that the expenditure of tourists has recently increased. After the Covid, natural destinations have become the choice of tourists.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that although the overall income will increase with the rise in arrival of tourists, per day spending of tourist on average will not increase. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"As the number of tourists increases, the average amount spent has decreased in some cases," Joshi said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to him, most of the money spent on the tourist packages to Nepal will be spent on tickets.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also suggested that in the current competitive situation, the state should pay attention to increase new activities and services and increase the expenditure. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17046', 'image' => '20230319025557_Tourist.jpg', 'article_date' => '2023-03-19 14:53:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17307', 'article_category_id' => '1', 'title' => 'Price of Gold Reaches All-time High at Rs 110,000 Per Tola', 'sub_title' => '', 'summary' => 'March 19: The price of gold has set a new record after an increase in the price of the precious yellow metal by Rs 2900 per tola (11.66 grams) on Sunday.', 'content' => '<h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 19: </span></span></span></span><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The price of gold has set a new record after an increase in the price of the precious yellow metal by Rs 2900 per tola (11.66 grams) on Sunday. </span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Association, the price of gold on Sunday has been set at Rs 110,000 per tola. Last Friday, the price of gold was Rs 107,100 per tola.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The last time the price of gold reached the highest ever was on February 12, when the price was recorded at Rs 107,500 per tola, according to the Federation of Gold and Silver Dealers Association.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Since then, the price of gold has been fluctuating.</span></span></span></span></h1> <h1><span style="font-size:24pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the last few days, the price of gold has been constantly on the rise. Last week, the price of gold increased by Rs 3,600 per tola.</span></span></span></span></h1> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17045', 'image' => '20230319013942_gold newwww.jpg', 'article_date' => '2023-03-19 13:38:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17306', 'article_category_id' => '1', 'title' => 'Call for Establishing Fertilizer Factory in Nepal', 'sub_title' => '', 'summary' => 'March 19: Lack of chemical fertilizers is a major problem in Nepal, an agricultural country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 19: Lack of chemical fertilizers is a major problem in Nepal, an agricultural country. After the government cut the subsidy given to farmers for the purchase of chemical fertilizers a few days ago, farmers are protesting saying that there will be more problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, the issue of opening a fertilizer factory in Nepal has come up time and again for a long-term solution to this problem.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders are divided on whether to open nitrogen-based fertilizer factory (urea production industry) or phosphate blending based fertilizer factory (balanced fertilizer industry) on the other side. Stakeholders say that it is more appropriate to establish a factory based on phosphate blending for a country like Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, central president of the Fertilizer Association of Nepal, who has worked in the field of chemical fertilizers for a long time says that a fertilizer factory based on phosphate blending is the most suitable for a country like Nepal. Experts say that when setting up a nitrogen-based factory (urea production factory), about 800 megawatts of electricity will be needed per day and natural gas will also be consumed in large quantities. Even to set up a small factory that produces 46 percent nitrogen (urea), more than a billion rupees is required as investment. He opined, “This produces more fertilizer than we need, but our market is small. Therefore, in the current situation, this issue seems to be a little impossible.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, there is a possibility of establishing a fertilizer factory based on phosphate blending in Nepal with the participation of the private sector to produce DAP by mixing nitrogen and phosphate. Various studies revealed that it can be established with an investment of around Rs 100 billion. According to a study conducted by the Investment Board Nepal in 2015, it will cost Rs 75.58 billion to open a nitrogen-based fertilizer factory in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Dallakoti, different types of fertilizers can be produced from fertilizer factories based on phosphate blending. Not all crops need nitrogen. Vegetables, rice, wheat and other crops need not only nitrogen but mixed fertilizers. In the fertilizer produced from such a factory, all elements including nitrogen, phosphorus, potash, iron, and boron, copper are mixed in a balanced manner in one fertilizer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Fertilizers required for rice, corn, wheat, pulses, fruits, mustard and other crops can be produced from such a factory. Fertilizer factories based on phosphate blending are also established in countries like India, Pakistan, and Bangladesh. More than 30 of such factories have been established in India alone.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that for a long-term solution to the fertilizer problem, the government should improve the Fertilizer Policy 2053 and involve the private sector in it and think about establishing a fertilizer factory based on phosphate blending.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17044', 'image' => '20230319120036_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2023-03-19 11:59:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17305', 'article_category_id' => '1', 'title' => 'Farmers Unable to Sell Paddy to FMTCL due to Lack of Bank Accounts', 'sub_title' => '964 Quintals of Paddy Purchased in 8 Months', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 19: Farmers in the terai region are unable to sell paddy to the government because they need bank account to be eligible to sell their produce.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition to that, they are also required to show land ownership certificate of at least one bigha and 10 kathhas (1 hectare approx.) of land in order to sell paddy to the state-owned Food Management and Trading Company Limited.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ram Pukar Mandal, information officer of Janakpur-based regional office of the Food Management and Trading Company Limited (FMTCL), says that most of the farmers are not able to sell rice to the company because they cultivate rice on other people's land.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The farmers could not complete the process to sell rice,” said Mandal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The regional office of the (FMTCL), Janakpurdham has not been able to purchase paddy as per the target in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the target is to purchase 15,000 quintals of paddy in the current fiscal year, the company has purchased only 964.25 quintals of paddy till mid-March. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information Officer Ram Pukar Mandal said that in the current fiscal year, paddy worth Rs 3,016,174 will be purchased. He also admitted that the FMTCL could not be purchase paddy this year as per the target.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mandal argued that because of the decision of Agriculture Knowledge Center that at least 10 quintals of paddy should be bought per farmer, the paddy produced by lower-class farmers could not be bought. He said that farmers were unable to come to sell rice to the company because of the procedural hurdles.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17043', 'image' => '20230319104530_paddyyy-transformed.jpeg', 'article_date' => '2023-03-19 10:44:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17304', 'article_category_id' => '268', 'title' => 'Nepal And India Agree To Prepare Modality To Export Electricity to Indian States Via Bihar', 'sub_title' => '', 'summary' => 'Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">March 19: Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The 14th meeting of the Nepal-India Power Exchange Committee concluded on March 17 at New Delhi, India, decided to prepare the modality for power export from Nepal to various states in India via Bihar within a month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The meeting co-chaired by Executive Director of the Nepal Electricity Authority Kulman Ghising and member of Power System member of the Central Electricity Authority of India Ashok Kumar Rajput agreed to finalize the modality within a month for the same. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The agreement has ensured the additional market for the sale of surplus electricity during rainy season", Executive Director Ghising said. Kataiya (Bihar)-Kushaha (Nepal) and Raxaul-Parawanipur 132-KV transmission line are connected with Bihar.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">As per the Power Exchange Agreement, the meeting has determined new the price of per unit electricity at Rs 11.54 for the fiscal year 2022/23. The new rate is not on a take-or-pay modality. We have to pay the rate, only if we purchase electricity. This rate is cheaper than the current Indian market and we will get the same rate even during export;” said Ghising. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">When the NEA made its first-ever effort to buy electricity from India through competitive bidding for long-term power supply in December last year, the Indian companies had proposed to sell power to Nepal at Rs 7.50 and Rs 8.70 per unit for February-March and April-May, respectively. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The prices they quoted are higher than the rate agreed between Nepal and India during the Power Exchange Committee meeting.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Buying electricity from India’s competitive market has been even more expensive. Up to INR 12 per unit has to be paid for the power on which an additional 1.5 Indian rupees is added towards tariff for transmission charges, according to the NEA. “Hence, the rate fixed, at present, is cheaper than others,” the power utility was quoted as saying in the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The NEA has been importing electricity from India’s Bihar, Uttar Pradesh and Uttarakhand as per the electricity exchange agreement. Only Bihar and Uttar Pradesh are connected to Nepal through 132 KV transmission lines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal imports electricity from India under three separate agreements. Nepal can import power from India based on the power exchange agreement, Mahakali Treaty and open competition in the Indian power market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The electricity purchased in the open market is being imported through the 400kV Dhalkebar-Muzaffarpur cross-border double-circuit transmission line. Nepal also sells electricity in the Indian market through this power line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Nepal Electricity Authority traded surplus electricity worth Rs 8.4 billion to Indian since the beginning of the current fiscal year 2022/23 to till the date. </span></span></span></p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17042', 'image' => '20230319064131_collage (28).jpg', 'article_date' => '2023-03-19 06:33:43', '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
