February 11: President Bidya Devi Bhandari has underscored the need for wiping out legal ambiguities and addressing interests and pressure of multi-stakeholders for intensifying development…
February 11: President Bidya Devi Bhandari has underscored the need for wiping out legal ambiguities and addressing interests and pressure of multi-stakeholders for intensifying development…
February 10: President Bidya Devi Bhandari has stressed on the need for the government to implement a coordinated programme to increase production, as the domestic production needs to be strengthened in order to improve the…
February 10: Nepal Rastra Bank (NRB) issued a tight monetary policy for the current fiscal year and increased the policy rates.…
Huge amounts of lithium reserves have been found for the first time in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV…
February: The Supreme Court (SC) has ruled in favor of the legal provision to allow foreign investment in the agricultural sector.…
Nepal Rastra Bank has said that increasing liquidity in the banking system will help improve stock market in the days to…
February 10: The Ministry of Culture, Tourism and Civil Aviation has directed the Civil Aviation Authority of Nepal (CAAN) to suspend Director General of the Tribhuvan International Airport (TIA) Prem Nath…
February 10: The Nepal Rastra Bank (NRB) has adopted liberal policy with an objective of providing some relief to the borrowers.…
February 10: Fed up with the frequent power cuts without prior notice, the industry operators of Bara-Parsa Industrial Corridor have requested the Nepal Electricity Authority (NEA) to announce load shedding rather than unannounced power…
February 10: Farmers have felt a sense of relief this year with the rise in the price of paddy while the consumers are at the receiving…
Asian Hydropower Limited is opening sale of its Initial Public Offering (IPO) to the general public in the second phase from…
Flights to and from Patan airport in Baitadi have remained shut for the past ten months. Costly air fare and lack of passengers have halted the flight along the Dhangadhi-Baitadi-Dhangadhi air route for…
Minister for Industry, Commerce and Supplies, Damodar Bhandari, said the government was committed to the promotion of industrial sector in…
February 9: Allegations of stock market manipulation and fraud have halved the net worth of Indian tycoon Gautam Adani, one of the wealthiest people in the world, and wiped out more than US$ 110 billion from his listed firms in India in less than two…
February 9: Roses worth almost Rs 25 million have been imported into the country within a week for the Valentine's Day.…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 11: President Bidya Devi Bhandari has underscored the need for wiping out legal ambiguities and addressing interests and pressure of multi-stakeholders for intensifying development projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In her address to the joint sitting of the federal parliaments on Friday, President Bhandari expressed concerns regarding the lacklusture pace of development projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to address the problems, an enabling legislation should be immediately adopted and implemented. The legislation should facilitate the procurement process, utilization of forest area and public land, human resources management, contract management, linking employees’ performance appraisal to their performance level, inter-agency coordination, and incentives for project managers,” she said in the address. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> According to the president, all sides’ attention is required to guarantee quality of infrastructures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Development activities cannot move properly in the absence of quality infrastructure. I am confident that the government will pay attention not only to the construction of infrastructure but also to the regular maintenance of the existing infrastructure by ensuring the implementation of an action plan with adequate resources,” President Bhandari said, adding that the development of an appropriate mechanism of mutual coordination for the integrated construction of different types of infrastructures at the beginning of the project would help build necessary coordination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the president said attention must be paid to the proper utilization of resources in the selection and construction of infrastructure projects. Small projects that are implemented without necessary study and analyses lead to the misuse of resources and fail to yield the desired returns, said the president. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Instead of allocating the budget for such small projects yielding no returns, it is better to manage the resources to ensure that the ongoing projects are completed within the stipulated timeframe,” she said, expressing confidence that the government would prepare its policies and programmes accordingly in the days ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strategic infrastructure projects should be selected and built keeping national security at the core, according to her. Roads should be constructed not only as conventional infrastructure but also as links emotionally connecting the citizens of the country. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further believed that our priorities should include developing standard road network at all wards of the local level, linking the services provided by the state with the road network, developing transport infrastructure to facilitate the means of transportation and to deliver the goods and services to the market, providing easy and accessible transportation facilities to the common people, completing the ongoing road construction within the stipulated time, and marking road transportation safe and reliable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari was for preparing the framework of infrastructure development only upon ensuring the necessity, relevance and sustainability of the infrastructure. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-02-11', 'modified' => '2023-02-11', 'keywords' => '', 'description' => '', 'sortorder' => '16731', 'image' => '20230211064849_RP_Kanchanpur-2(1).jpg', 'article_date' => '2023-02-11 18:48:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16991', 'article_category_id' => '1', 'title' => 'President for Coordinated Efforts to Boost Production ', 'sub_title' => '', 'summary' => 'February 10: President Bidya Devi Bhandari has stressed on the need for the government to implement a coordinated programme to increase production, as the domestic production needs to be strengthened in order to improve the economy. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: President Bidya Devi Bhandari has stressed on the need for the government to implement a coordinated programme to increase production, as the domestic production needs to be strengthened in order to improve the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In her address to the joint sitting of both Houses of the Federal Parliament on Friday, the president said, "The agriculture sector still remains our area of comparative and competitive advantage." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari suggested that providing subsidies in agriculture on the basis of the quantity of production would provide an incentive to increase production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“For this, it is necessary to have coordinated implementation of programmes on fertilizers, seeds, agricultural extension services, irrigation, capital and land while keeping agricultural output at the forefront,” she said. Furthermore, the value chain can be maintained by strengthening the internal distribution system and assisting the farmers to receive the right price for their produce on time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The president also noted that trade deficit can be reduced if agricultural programmes could be implemented in such a way that leads to self-sufficiency in certain food items within a specified timeline and then enabling to export surplus items. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The government should focus on creating an investment-friendly environment by providing the basic infrastructure, protecting the investment and building the necessary infrastructure up to the production site to boost production.” -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16730', 'image' => '20230210100726_President Bhandari addressing a joint meeting at Parliament House, 1.jpg', 'article_date' => '2023-02-10 22:06:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16990', 'article_category_id' => '1', 'title' => 'Interest Rate on Internal Debts of Government Increasing', 'sub_title' => '', 'summary' => 'February 10: Nepal Rastra Bank (NRB) issued a tight monetary policy for the current fiscal year and increased the policy rates. ', 'content' => '<p>February 10: Nepal Rastra Bank (NRB) issued a tight monetary policy for the current fiscal year and increased the policy rates. While under pressure from the external sector including high exchange rate deficit and declining foreign exchange reserves, NRB took a policy of tightening loans by increasing interest rates. Due to this, the internal interest rate of the government also became expensive.</p> <p>As NRB increased the policy rates, the banks started increasing the interest rate, making the interest of internal debt collected by the government through various monetary instruments expensive.</p> <p>NRB announced the monetary policy for the current year on July 23. Immediately after the announcement of the monetary policy, the government issued treasury bills as a tool for raising short-term domestic debt. Banks increased the interest rate on 91-day treasury bills issued on July 26 by 2.67 percentage points which was in single digits before the monetary policy.</p> <p>After that, NRB intervened several times and bought Treasury Bills itself, but the interest rate could not be reduced. So, NRB has to pay high interest rates when raising internal debt through Treasury Bills.</p> <p>Lately, the interest rate of the treasury started to decrease after the liquidity situation in the banks and financial institutions eased, but still, the interest rate is becoming more expensive for the government compared to the last FY. Last year, the interest rate of 28-day treasury bills remained at 4.72 percent.</p> <p>In the current year, the lowest interest rate for 28-day treasury was maintained on January 30 at 5.9 percent. Similarly, 9.18 percent interest rate is maintained on 91-day treasury bills, while the interest rate on 182- and 364-day treasury bills is still in double digits.</p> <p>Similarly, the interest rate of internal debt raised by the government through development bonds also became expensive. In the current year, the government raised Rs 30 billion through development bonds for a period of 2 to 5 years. Its average interest rate remained at 9.95 percent. Last year, when the government raised domestic debt through development bonds, the average interest rate was only 7.74 percent.</p> <p>As of last year, the internal debt of the government is Rs 984 billion. In the current fiscal year, the government set a target of raising domestic debt of Rs 256 billion. Out of that, Rs 30 billion of debt was raised in the second quarter. Similarly, the target is to raise Rs 88 billion in the third quarter and Rs 138 billion in the fourth quarter.</p> <p>Through the monetary policy of the current year, NRB adopted a policy of tightening the loans by increasing the interest rate. Through the policy, the bank rate increased by 1.5 percentage points to 8.5 percent. The deadline for standing liquidity facility (SLF) taken by banks for liquidity management also reduced from 2 days to 5 days only. Similarly, the policy rate increased from 5.5 percent to 7 percent, and the deposit collection rate increased from 4 percent to 5.5 percent.</p> <p>Interest rates of banks are becoming more expensive due to increase in policy rates and lack of liquidity in the financial system. However, as the liquidity situation in the financial system eased recently and the external pressure on the economy decreased, experts say that the internal economy should be made viable by reducing the policy rate through a review of the monetary policy.</p> <p>Former banker Analraj Bhattarai said, “Even though the external pressure on the economy is less now, the internal economy has not been able to run due to high interest rates. NRB should review the monetary policy.”</p> <p>NRB is conducting its half-yearly review of monetary policy today (Friday). It is expected that NRB, which maintained the policy regime in the first quarter monetary policy review, will review the policy rates in the second review.</p> <p>Governor of NRB, Mahaprasad Adhikari has also been indicating in public programs that the provisions of monetary policy will change according to time. He said, “Due to the arrangements made through the monetary policy, we have reached a somewhat comfortable situation. The provisions of the monetary policy are reviewed from time to time.”</p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16729', 'image' => '20230210075421_20230210043603_interest ratee.jpg', 'article_date' => '2023-02-10 19:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16989', 'article_category_id' => '243', 'title' => 'Huge Amount of Lithium Reserves Found in Jammu and Kashmir ', 'sub_title' => '', 'summary' => 'Huge amounts of lithium reserves have been found for the first time in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. ', 'content' => '<p> </p> <p><span style="font-size:18px">India (February 10): Huge amounts of lithium reserves have been found for the first time in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. </span></p> <p><span style="font-size:18px">So far, India has depended on Australia and Argentina for lithium imports. The Geological Survey of India found the lithium reserves in the Salal-Haimana area of Reasi district in Jammu and Kashmir, India's Ministry of Mines said. </span></p> <p><span style="font-size:18px">As much as 5.9m tonnes of the mineral have been discovered in Jammu and Kashmir. In 2021, much smaller deposits of the mineral were found in the southern state of Karnataka.</span></p> <p><span style="font-size:18px">"For the first time, lithium reserves have been discovered and that too in Jammu and Kashmir," Mines Secretary Vivek Bharadwaj said. Earlier, the government had said that it was looking to improve its supply of rare metals needed to boost new technologies and was looking for sources in India and abroad.</span></p> <p><span style="font-size:18px">Around the world the demand for rare metals, including lithium, has increased as countries look to adopt greener solutions to slow down climate change.</span></p> <p><span style="font-size:18px">Lithium is extracted from hard rocks and underground brine reservoirs largely found in Australia, Chile and Argentina.<br /> After the mineral is mined, it is roasted using fossil fuels, searing the landscape and leaving behind scars. </span></p> <p><span style="font-size:18px">The extraction process also requires a lot of water and releases large amounts of carbon dioxide into the atmosphere. According to the World Bank, mining of crucial minerals will need to increase by 500% to meet global climate targets by 2050.</span></p> <p><span style="font-size:18px">However, experts say that the process of mining lithium is not environment-friendly. (Agencies)</span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16727', 'image' => '20230210052100_collage - 2023-02-10T171719.098.jpg', 'article_date' => '2023-02-10 17:15:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '16987', 'article_category_id' => '1', 'title' => 'Supreme Court Rules in Favour of Foreign Investment in Agriculture', 'sub_title' => '', 'summary' => 'February: The Supreme Court (SC) has ruled in favor of the legal provision to allow foreign investment in the agricultural sector. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February: The Supreme Court (SC) has ruled in favor of the legal provision to allow foreign investment in the agricultural sector. The path to bring in foreign investment in the agricultural sector has been opened after SC rejected the petition demanding the non-implementation of the amendment to the Foreign Investment and Technology Transfer Act, 2075 to bring in foreign investment in the agricultural sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Earlier, the need for foreign investment in the agricultural sector was raised several times, but the obstacles to foreign investment could not be removed. Especially industrialists and businessmen have been arguing that small farmers cannot compete with foreign investment in agriculture.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government amended the Foreign Investment and Technology Transfer Act, 2075 to allow foreign investment in the agricultural sector with the objective of exporting 75 percent of the produce.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the said act, the government amended the previous provision that foreign investment could not be brought in the fields of livestock, fishery, beekeeping, fruits, vegetables, oilseeds, pulses, dairy business, etc. A writ was filed in the SC against such a provision made by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A few days ago, the full text of the decision of the SC’s division bench of justices Prakash Kumar Dhungana and Kumar Chudal dismissing the writ petition filed to prohibit foreign investment in the agriculture sector came out. In the text of the SC verdict, it is mentioned that there will be no negative impact on the domestic agricultural industry due to the opening of foreign investment, and there will be no loss or damage to the nation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The SC opined that since foreign investment is opened on the condition that at least 75 percent of the production is exported, small farmers and domestic production will not be affected. Similarly, it is mentioned in the full text that the provision of foreign investment will remain in place for industries that export agricultural products produced in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">SC said that technology will be transferred through foreign investment, the modernization of agriculture will increase and as a result, the quantity and quality of agricultural products will also increase. It is also mentioned in the full text that this will help in the import substitution of agricultural produce and increase employment due to foreign technology.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the full text of SC, large investment is required for commercial farming and when foreign investment comes in, not only investment but also technology and skills will come in. The verdict states, “Since foreign investment in agriculture does not seem to affect small farmers and domestic producers, it is not appropriate to think that foreign investment will affect domestic investment.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16726', 'image' => '20230210042029_Agri.jpg', 'article_date' => '2023-02-10 16:19:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16986', 'article_category_id' => '218', 'title' => 'Easing Liquidity Will Have Positive Impact on Stock Market: NRB ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank has said that increasing liquidity in the banking system will help improve stock market in the days to come. ', 'content' => '<p><br /> <span style="font-size:18px">February 10: Nepal Rastra Bank has said that the rising liquidity in the banking system will help improve stock market in the days to come. </span></p> <p><span style="font-size:18px">At a press meet organised after the half-yearly review of monetary policy of the current fiscal year 2022/23 published by Nepal Rastra Bank on Friday, NRB’s Executive Director Prakash Kumar Shrestha said liquidity was easing in the banking system and it would have a positive impact on the share market. </span></p> <p><span style="font-size:18px">“With the rise of deposits in the banking system, liquidity is becoming comfortable. This will have the positive effect on the stock market,” Shrestha added. </span></p> <p><span style="font-size:18px">Stating that the Nepal Rastra Bank’s current priority was to maintain the country’s financial stability, Director Shrestha held that half-yearly review of the monetary policy had kept the policy-level provisions unchanged for the same.</span><br /> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16725', 'image' => '20230210041632_collage - 2023-02-10T160337.889.jpg', 'article_date' => '2023-02-10 16:07:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16985', 'article_category_id' => '1', 'title' => 'Government Directs CAAN to suspend TIA Director General Thakur over Bribery Allegation', 'sub_title' => '', 'summary' => 'February 10: The Ministry of Culture, Tourism and Civil Aviation has directed the Civil Aviation Authority of Nepal (CAAN) to suspend Director General of the Tribhuvan International Airport (TIA) Prem Nath Thakur.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: The Ministry of Culture, Tourism and Civil Aviation has directed the Civil Aviation Authority of Nepal (CAAN) to suspend Director General of the Tribhuvan International Airport (TIA) Prem Nath Thakur. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry took such a decision following a revelation of an audio conversation in which Thakur is heard seeking personal benefits from an airline company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Joint Secretary Rajendra Kumar KC, who is also the ministry's spokesperson, confirmed that CAAN has been directed to fire Thakur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Thakur has been charged with holding a conversation with Thai Smile Airlines for his personal gains illegally. As per the cabinet decision, CAAN has been asked to suspend Thakur to help investigate the matter,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the ministry has urged the Commission for the Investigation of Abuse of Authority (CIAA) to launch further investigations into the matter, added KC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some days ago, the CIAA had arrested Purna Chudal, the TIA chief (domestic terminal) along with a bribe. Thakur’s involvement in seeking personal gains came to the fore after the arrest of Chudal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16724', 'image' => '20230210031858_CAAN.jpg', 'article_date' => '2023-02-10 15:17:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16984', 'article_category_id' => '1', 'title' => 'Monetary Policy Review Gives Relief to Borrowers ', 'sub_title' => '', 'summary' => 'February 10: The Nepal Rastra Bank (NRB) has adopted liberal policy with an objective of providing some relief to the borrowers. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 10: The Nepal Rastra Bank (NRB) has adopted liberal policy with an objective of providing some relief to the borrowers. The central bank has given some relief to the borrowers by publishing a half-yearly review of the monetary policy of the current fiscal year, 2022/23 on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank has made an arrangement so that banks cannot take penalty interest till mid-June 2023 if a borrower makes payment of loans along with interest within a month after the expiry of the deadline, reads the review. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, there is a provision that loans up to Rs 20 million floated through banks and financial institutions to facilitate to small and medium industries and businesses can be restructured within July 16 after analysing their cash flow and incomes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The monetary policy had mandated commercial banks to invest at least 11 percent of their total loans in agriculture sector, sic percent in energy sector and 11 percent in micro, cottage and small scale industries (less than Rs 10 million loans including deprived sector lending).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mid-term review states that commercial banks have invested 13 percent in agriculture (Rs 543.47 billion), 6.3 percent in energy sector (Rs 262.55 billion) and 9.5 percent in micro, cottage and small scale industries (Rs 396.91 billion) as of mid-December 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While issuing the mid-term review of the monetary policy, NRB stated that the monetary policy of the current fiscal year had set a target of increasing foreign exchange reserves that can support imports for seven months. The mid-term review states that the central bank has exceeded this target as the foreign exchange reserves of the country can support imports for 9.1 months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mid-term review also states that there has been a general improvement in the economy in the first six months of the current fiscal year compared to the corresponding period of last fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the average inter-bank rate, which was 4.77 percent in mid-December to mid-January a year ago has increased to 7.73 percent in the corresponding period of this year. The average inter-bank rate was 7.01 percent in mid-July last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16723', 'image' => '20230210042209_20220727022441_monetary policy.jpg', 'article_date' => '2023-02-10 14:42:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16983', 'article_category_id' => '1', 'title' => 'Industrialists Urge for Load Shedding Instead of Unannounced Power Cuts', 'sub_title' => '', 'summary' => 'February 10: Fed up with the frequent power cuts without prior notice, the industry operators of Bara-Parsa Industrial Corridor have requested the Nepal Electricity Authority (NEA) to announce load shedding rather than unannounced power cuts.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 10: Fed up with the frequent power cuts without prior notice, the industry operators of Bara-Parsa Industrial Corridor have requested the Nepal Electricity Authority (NEA) to announce load shedding rather than unannounced power cuts. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hari Gautam, coordinator of the industry committee under the Birgunj Chamber of Commerce and Industry, said that electricity is cut for 8/9 hours every day in the main industrial corridor.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the production of most of the industries has decreased. Industrialists claim that when the production has dropped to 25 percent, lack of electricity has added to the problem. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Gautam, who is also the vice president of the association, said, “There are problems in the production shift management as well due to power cuts without notice. Instead, it would have been easier if the schedule of load shedding was available.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industrialists complain that production has been badly affected due to the frequent power cuts without notice. Iron, cement and furnace-based industries which consume more electricity are affected more.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As compared to the previous years, the domestic production of electricity and import from India has decreased this year, due to which NEA started cutting its supply to the industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the authority's top officials, the power supply in the industry is reduced by 2/3 hours in order to manage the demand during peak hours. However, industrialists said that electricity is interrupted many times throughout the day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to NEA’s data, the demand for electricity in the peak hour is 1,700 megawatts. Authority officials say that domestic production is at most 1,300 MW and 400 MW is being imported from India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The authority claims that this year, production has decreased by 20 percent compared to last year's winter and imports from India are also affected, creating imbalance in supply and demand. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The authority buys electricity from India and has to pay more during peak hours, so it brings it during off hours. NEA has been importing mostly from Bihar of India and Bara-Parsa Industrial Corridor is supplied from the same line. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NEA spokesperson Suresh Bhattarai says that two thermal plants with a capacity of 1,400 megawatts in Bihar are damaged, so they have not been able to bring in the required amount of electricity.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Madhav Rajpal, vice president of the association, there are problems such as wastage of raw materials, reduction in production, burning and deterioration of equipment, and deterioration in the quality of products due to frequent power cuts in the industry. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He commented that a dark age has started in the industry less than four years after the end of load shedding.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Industrialists say that they have been trapped in an all-round crisis since the Covid-19 pandemic and the energy insecurity is hitting them even harder. Gautam complains that due to the recession in the market, the industry is running only for 12 hours, and due to the lack of regular electricity supply, it has not been able to run for even eight hours. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16722', 'image' => '20230210013223_NEA.jpg', 'article_date' => '2023-02-10 13:31:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16982', 'article_category_id' => '1', 'title' => 'Paddy Farmers Happy with Price Hike, Consumers Complain ', 'sub_title' => '', 'summary' => 'February 10: Farmers have felt a sense of relief this year with the rise in the price of paddy while the consumers are at the receiving end.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: Farmers have felt a sense of relief this year with the rise in the price of paddy while the consumers are at the receiving end. The price of paddy has increased by Rs 300 per quintal compared to the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As neighbouring India has imposed a quota on paddy export, the price of paddy in Nepal has increased along with the increase in price of paddy in India. India has fixed an export quota of 600,000 tons of paddy for Nepal in the current fiscal year </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the increase in the price of paddy, Sona Mansuli variety of rice available at Rs 48 per kg now costs Rs 58 per kg while the price of Mansuli has reached Rs 64 from Rs 50 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of Madhes province, including Parsa, a pocket area for paddy production, have been suffering due to low price but they have finally got some relief. Sitaram Prasad, a farmer of Lalparsa in Birgunj Ward No 30, says, "The price of paddy does not even meet the cost of production, but this time it has increased." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Kismatia Devi, a paddy farmer of Sabathwa-4, Parsa, however said although the new price is some relief, it is not enough. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, even though the farmers are happy with the increase in the price of paddy the consumers are at the receiving end. The price of rice has increased by Rs 15 to 25 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sarita Devi Kurmi of Birgunj Metropolis, Ward No 12 said the sudden increase in the price of rice has made daily expenses hard to meet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central President of Nepal Rice, Oil and Pulses Industry Association, Subodh Gupta, says Nepal still depends on India to meet 50 to 60 percent demand for paddy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> “Since India has increased the support price for paddy, it has led to an increase in the price of rice, which is mostly imported from India,” says Gupta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16721', 'image' => '20230210115354_640px-Rice_Plants_(IRRI).jpg', 'article_date' => '2023-02-10 11:53:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16981', 'article_category_id' => '1', 'title' => 'Asian Hydropower Limited Opens Sale Of IPO to General Public ', 'sub_title' => '', 'summary' => 'Asian Hydropower Limited is opening sale of its Initial Public Offering (IPO) to the general public in the second phase from Friday.', 'content' => '<p><span style="font-size:18px">February 10: Asian Hydropower Limited is opening sale of its Initial Public Offering (IPO) to the general public in the second phase from Friday.</span></p> <p><span style="font-size:18px">The company is offering 7,56,000 units of shares to the general public, including the mutual fund schemes and employees of the company.</span></p> <p><span style="font-size:18px">Out of the total shares, 42,000 units of shares have been allotted to the mutual fund schemes. Likewise, 16,000 shares have been set aside for the employees of the company.</span></p> <p><span style="font-size:18px"> General public an participate in the remaining 6,97,200 units of shares.<br /> Interested investors can apply for a minim of 10 kitta and a maximum of 20,000 kitta of shares at a face value of Rs 100.</span></p> <p><span style="font-size:18px">The offer will end on February 14. If the IPO remains under-subscribed, the deadline will extend until February 24.<br /> In the first phase, the hydropower company had issued and allotted public offerings to the project affected locals of Ilam district and Nepali citizens working in foreign countries.</span></p> <p><span style="font-size:18px">Asian Hydropower Limited has developed Lower Jogmai Khola Hydropower in Ilam district. The run-of-the river project has installed capacity of 6.2 megawatts.</span></p> <p><span style="font-size:18px">The project has been producing power for the last one year. Per megawatt cost for the hydropower construction stands at Rs 21.15 crores</span></p> <p><span style="font-size:18px">NMB Capital is the issue and sales manager of the hydropower company. Interested individuals can apply for the IPO from all C-ASBA-approved banks and financial institutions by the Securities Board of Nepal (SEBON). The IPO can also be purchased from Meroshare.</span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16720', 'image' => '20230210061838_collage (64) (1).jpg', 'article_date' => '2023-02-10 06:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '16980', 'article_category_id' => '1', 'title' => 'Flights to and from Baitadi's Patan Airport Closed for the Last Ten Months ', 'sub_title' => '', 'summary' => 'Flights to and from Patan airport in Baitadi have remained shut for the past ten months. Costly air fare and lack of passengers have halted the flight along the Dhangadhi-Baitadi-Dhangadhi air route for months.', 'content' => '<p><br /> <span style="font-size:18px">February 9: Flights to and from Patan airport in Baitadi have remained shut for the past ten months. Costly air fare and lack of passengers have halted the flight along the Dhangadhi-Baitadi-Dhangadhi air route for months.</span></p> <p><span style="font-size:18px">The airport was brought into operation by spending Rs 110 million for its blacktopping. Unfortunately, flight remained closed for months.</span></p> <p><span style="font-size:18px"> Summit Air was conducting a single flight to and from Patan airport every Thursday. The last time the flight was conducted from the airport was on 24 March, 2022. </span></p> <p><span style="font-size:18px">Summit Air’s representative Krishna Datta Bhatta says that chances of resuming flight are still uncertain. Eighteen minutes’ flight from Patan to Dhangadhi costs Rs 5,000 per person. </span></p> <p><span style="font-size:18px">Local Chaman Bhandari shared that closure of the air service has made it difficult for the emergency patients to reach to the well-facilitated hospital and employees to get to their workplace. </span></p> <p><span style="font-size:18px">Patan airport is the second largest in Sudurpaschim Province. The airport was brought into operation in 2077 after a long hiatus of 26 years. Patan airport that came into operation in 2036 for the first time was closed till 2051.</span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16719', 'image' => '20230209050256_collage - 2023-02-09T165454.173.jpg', 'article_date' => '2023-02-09 16:58:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '16979', 'article_category_id' => '1', 'title' => 'Government Determined to Promote Industrial Sector, Says Industry Minister Damodar Bhandari ', 'sub_title' => '', 'summary' => ' Minister for Industry, Commerce and Supplies, Damodar Bhandari, said the government was committed to the promotion of industrial sector in Nepal. ', 'content' => '<p><span style="font-size:18px">February 9: Minister for Industry, Commerce and Supplies, Damodar Bhandari, said the government was committed to the promotion of industrial sector in Nepal. </span></p> <p><span style="font-size:18px">Minister Bhandari reiterated that the government was seriously working for the promotion of the industrial sector by transforming challenges into opportunities. </span></p> <p><span style="font-size:18px"> During a programme organised by the Kailali Chamber of Commerce in Dhangadhi on Thursday, the Minister said the cooperation from the private sector would be sought to revive some of the sick industries. </span></p> <p><span style="font-size:18px">Bhandari argued that more areas of industrial potentialities would be explored with a focus on the Sudurapschim Province for industrial expansion and promotion. </span></p> <p><span style="font-size:18px">Stating that prompt service delivery was the priority of the government, the Minister assured that the incumbent government would wholeheartedly work for good governance and prosperity.</span></p> <p><span style="font-size:18px">Minister Bhandari informed that subordinate bodies under the Ministry had been already directed to explore potentials in the specific areas. “Darchula has the mining of copper and lead, Baitadi has iron mining and other districts may have many more potentialities and we have prioritized these probabilities,” he added.</span></p> <p><span style="font-size:18px">A dry port based in Dodhara Chandani of Kanchanpur would be brought into operation soon, according to the minister. </span><br /> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16718', 'image' => '20230209033910_collage - 2023-02-09T153503.084.jpg', 'article_date' => '2023-02-09 15:34:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '16978', 'article_category_id' => '1', 'title' => 'Will the Crisis Faced by Adani Group have any Impact in Nepal?', 'sub_title' => '', 'summary' => 'February 9: Allegations of stock market manipulation and fraud have halved the net worth of Indian tycoon Gautam Adani, one of the wealthiest people in the world, and wiped out more than US$ 110 billion from his listed firms in India in less than two weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">February 9: Allegations of stock market manipulation and fraud have halved the net worth of Indian tycoon Gautam Adani, one of the wealthiest people in the world, and wiped out more than US$ 110 billion from his listed firms in India in less than two weeks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Forbes magazine ranked Adani as the third-richest person in the world. But a recent stock rout has caused his fortune to take a nosedive, as he faces allegations of stock manipulation and debt concerns by US-based short-seller Hindenburg Research.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to data from Forbes, Adani had a net worth of US$ 2.8 billion in 2014, just before Narendra Modi – who is from the same state of Gujrat where Adani comes from – was elected as India’s prime minister. That wealth had catapulted to US$ 126.4 billion until the Hindenburg Research report on January 24 sent his business, which involves ports, airports, gas distribution, green energy, data centres, agri logistics, edible oil, and power generation and transmission, among others, into crisis, reported Al Jazeera.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the Doha-based media network, the Hindenburg report alleged that Adani family members cooperated to create offshore shell entities in tax-haven jurisdictions like Mauritius, the United Arab Emirates and several Caribbean islands, generating forged import/export documentation in an apparent effort to spur fake or illegitimate turnover and siphon money from the listed companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Adani Group has defended itself stating that the report was issued with a “mala fide intention” to damage its reputation, days before the group was set to hold a public secondary share sale to raise $2.5bn, the largest such sale in the country. The Adani Group has alleged that the report’s “principal objective” was to derail the share offer.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">With investor confidence shaken, legislators have demanded an investigation into his businesses as his listed companies’ shares slipped. However, the latest reports have indicated that the shares of his companies have improved in the last three days.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Hindu, one of the leading newspapers of India, wrote that the fall in shares of Adani Group will have implications on businesses and economies of India as well as its neighbouring countries Nepal, Bangladesh and Sri Lanka.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The newspaper argues that Nepal’s hydropower sector will be particularly affected as Adani Group was planning to build infrastructures related to trans-border transmission lines that would connect Nepal, Bhutan, India, Bangladesh and possibly Sri Lanka in the future.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The newspaper revealed that Adani Group had shown special interest in hydropower projects in Karnali after the then Prime Minister of Nepal Sher Bahadur and Indian PM Modi issued a joint statement of cooperation in hydropower sector during Duba’s state visit to India last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The group had made verbal proposal during unofficial discussions to invest in various hydropower projects and transmission lines within Nepal and also for the cross-border transmission lines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">However, Adani Group has not signed any kind of investment agreement with Nepal in regard to the hydropower sector and therefore the fall in shares of the group will not have any implications on Nepal, argues Aashish Garg, vice president of the Independent Power Producers Association of Nepal (IPPAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“It seems that the Adani Group has not invested a single penny in Nepal. It is normal for a big company to show interest in hydropower sector of Nepal,” said Garg, adding, “In the present context, the crisis faced by Adani Group will not have any impact in Nepal.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Investment Board Nepal also clarified that Adani Group had shown interest through various means to invest in Nepal but have not held any official discussion in this regard.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">IBN’s Spokesperson Amrit Lamsal confirmed that the group has not had any official agreement with Nepal for investment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Nepal Electricity Authority’s Spokesperson Suresh Bhattarai also said that the state-owned power utility has not signed any such agreement with Adani Group.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Bhattarrai further said that even if such a big business conglomerate wishes to invest in Nepal, there won’t be any problem for source of funding.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16717', 'image' => '20230209025321_1675909175.Clipboard12.jpg', 'article_date' => '2023-02-09 14:52:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16977', 'article_category_id' => '1', 'title' => 'Roses worth Rs 24.7 Million Imported in a Week', 'sub_title' => '', 'summary' => 'February 9: Roses worth almost Rs 25 million have been imported into the country within a week for the Valentine's Day. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 9: Roses worth almost Rs 25 million have been imported into the country within a week for the Valentine's Day. According to the data of Nepal Floriculture Association, 260,000 stem roses worth Rs 24.7 million were imported from India for the Valentine's Day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It is estimated that 280,000 stem roses (both imported and local) will be traded in Nepal throughout the period of Valentine’s Day. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The association estimates that 168,000 stem rose alone will be consumed in the Kathmandu Valley while 112,000 stem roses will be consumed in the cities outside the valley. Last year, on the occasion of Valentine’s Day, 277,000 stem roses were traded in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Min Bahadur Tamang, president of the association, domestic production will meet 7 percent of the total market demand for roses this time. The rest of 93 percent of the demand will be fulfill by importing roses from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A few years ago, Nepal used to import 65 percent of the roses needed for Valentine's Day from India while the rest of 35 percent demand was met by roses produced in the domestic market of Nepal. Tamang said that the import in recent years has skyrocketed due to the Covid-19 pandemic as some florists left the business while others reduced their investment. The domestic production is expected to increase from next year as the pandemic has already subsided.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Last year, the price of rose was between Rs 80 to Rs 100 per stem. This year, the roses are being sold for Rs 80 to Rs 120. In Nepal, there is a demand for about 10,000 steam roses even on normal days except for festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Floriculture Association, the commercial farming of roses in Nepal is done in Kathmandu, Bhaktapur, Lalitpur, Chitwan and Kavre, while its cultivation has started expanding in other districts as well.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16716', 'image' => '20230209011533_20190214040655__RAB0977.jpg', 'article_date' => '2023-02-09 13:14:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 11: President Bidya Devi Bhandari has underscored the need for wiping out legal ambiguities and addressing interests and pressure of multi-stakeholders for intensifying development projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In her address to the joint sitting of the federal parliaments on Friday, President Bhandari expressed concerns regarding the lacklusture pace of development projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to address the problems, an enabling legislation should be immediately adopted and implemented. The legislation should facilitate the procurement process, utilization of forest area and public land, human resources management, contract management, linking employees’ performance appraisal to their performance level, inter-agency coordination, and incentives for project managers,” she said in the address. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> According to the president, all sides’ attention is required to guarantee quality of infrastructures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Development activities cannot move properly in the absence of quality infrastructure. I am confident that the government will pay attention not only to the construction of infrastructure but also to the regular maintenance of the existing infrastructure by ensuring the implementation of an action plan with adequate resources,” President Bhandari said, adding that the development of an appropriate mechanism of mutual coordination for the integrated construction of different types of infrastructures at the beginning of the project would help build necessary coordination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the president said attention must be paid to the proper utilization of resources in the selection and construction of infrastructure projects. Small projects that are implemented without necessary study and analyses lead to the misuse of resources and fail to yield the desired returns, said the president. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Instead of allocating the budget for such small projects yielding no returns, it is better to manage the resources to ensure that the ongoing projects are completed within the stipulated timeframe,” she said, expressing confidence that the government would prepare its policies and programmes accordingly in the days ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strategic infrastructure projects should be selected and built keeping national security at the core, according to her. Roads should be constructed not only as conventional infrastructure but also as links emotionally connecting the citizens of the country. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further believed that our priorities should include developing standard road network at all wards of the local level, linking the services provided by the state with the road network, developing transport infrastructure to facilitate the means of transportation and to deliver the goods and services to the market, providing easy and accessible transportation facilities to the common people, completing the ongoing road construction within the stipulated time, and marking road transportation safe and reliable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari was for preparing the framework of infrastructure development only upon ensuring the necessity, relevance and sustainability of the infrastructure. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-02-11', 'modified' => '2023-02-11', 'keywords' => '', 'description' => '', 'sortorder' => '16731', 'image' => '20230211064849_RP_Kanchanpur-2(1).jpg', 'article_date' => '2023-02-11 18:48:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16991', 'article_category_id' => '1', 'title' => 'President for Coordinated Efforts to Boost Production ', 'sub_title' => '', 'summary' => 'February 10: President Bidya Devi Bhandari has stressed on the need for the government to implement a coordinated programme to increase production, as the domestic production needs to be strengthened in order to improve the economy. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: President Bidya Devi Bhandari has stressed on the need for the government to implement a coordinated programme to increase production, as the domestic production needs to be strengthened in order to improve the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In her address to the joint sitting of both Houses of the Federal Parliament on Friday, the president said, "The agriculture sector still remains our area of comparative and competitive advantage." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari suggested that providing subsidies in agriculture on the basis of the quantity of production would provide an incentive to increase production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“For this, it is necessary to have coordinated implementation of programmes on fertilizers, seeds, agricultural extension services, irrigation, capital and land while keeping agricultural output at the forefront,” she said. Furthermore, the value chain can be maintained by strengthening the internal distribution system and assisting the farmers to receive the right price for their produce on time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The president also noted that trade deficit can be reduced if agricultural programmes could be implemented in such a way that leads to self-sufficiency in certain food items within a specified timeline and then enabling to export surplus items. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The government should focus on creating an investment-friendly environment by providing the basic infrastructure, protecting the investment and building the necessary infrastructure up to the production site to boost production.” -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16730', 'image' => '20230210100726_President Bhandari addressing a joint meeting at Parliament House, 1.jpg', 'article_date' => '2023-02-10 22:06:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16990', 'article_category_id' => '1', 'title' => 'Interest Rate on Internal Debts of Government Increasing', 'sub_title' => '', 'summary' => 'February 10: Nepal Rastra Bank (NRB) issued a tight monetary policy for the current fiscal year and increased the policy rates. ', 'content' => '<p>February 10: Nepal Rastra Bank (NRB) issued a tight monetary policy for the current fiscal year and increased the policy rates. While under pressure from the external sector including high exchange rate deficit and declining foreign exchange reserves, NRB took a policy of tightening loans by increasing interest rates. Due to this, the internal interest rate of the government also became expensive.</p> <p>As NRB increased the policy rates, the banks started increasing the interest rate, making the interest of internal debt collected by the government through various monetary instruments expensive.</p> <p>NRB announced the monetary policy for the current year on July 23. Immediately after the announcement of the monetary policy, the government issued treasury bills as a tool for raising short-term domestic debt. Banks increased the interest rate on 91-day treasury bills issued on July 26 by 2.67 percentage points which was in single digits before the monetary policy.</p> <p>After that, NRB intervened several times and bought Treasury Bills itself, but the interest rate could not be reduced. So, NRB has to pay high interest rates when raising internal debt through Treasury Bills.</p> <p>Lately, the interest rate of the treasury started to decrease after the liquidity situation in the banks and financial institutions eased, but still, the interest rate is becoming more expensive for the government compared to the last FY. Last year, the interest rate of 28-day treasury bills remained at 4.72 percent.</p> <p>In the current year, the lowest interest rate for 28-day treasury was maintained on January 30 at 5.9 percent. Similarly, 9.18 percent interest rate is maintained on 91-day treasury bills, while the interest rate on 182- and 364-day treasury bills is still in double digits.</p> <p>Similarly, the interest rate of internal debt raised by the government through development bonds also became expensive. In the current year, the government raised Rs 30 billion through development bonds for a period of 2 to 5 years. Its average interest rate remained at 9.95 percent. Last year, when the government raised domestic debt through development bonds, the average interest rate was only 7.74 percent.</p> <p>As of last year, the internal debt of the government is Rs 984 billion. In the current fiscal year, the government set a target of raising domestic debt of Rs 256 billion. Out of that, Rs 30 billion of debt was raised in the second quarter. Similarly, the target is to raise Rs 88 billion in the third quarter and Rs 138 billion in the fourth quarter.</p> <p>Through the monetary policy of the current year, NRB adopted a policy of tightening the loans by increasing the interest rate. Through the policy, the bank rate increased by 1.5 percentage points to 8.5 percent. The deadline for standing liquidity facility (SLF) taken by banks for liquidity management also reduced from 2 days to 5 days only. Similarly, the policy rate increased from 5.5 percent to 7 percent, and the deposit collection rate increased from 4 percent to 5.5 percent.</p> <p>Interest rates of banks are becoming more expensive due to increase in policy rates and lack of liquidity in the financial system. However, as the liquidity situation in the financial system eased recently and the external pressure on the economy decreased, experts say that the internal economy should be made viable by reducing the policy rate through a review of the monetary policy.</p> <p>Former banker Analraj Bhattarai said, “Even though the external pressure on the economy is less now, the internal economy has not been able to run due to high interest rates. NRB should review the monetary policy.”</p> <p>NRB is conducting its half-yearly review of monetary policy today (Friday). It is expected that NRB, which maintained the policy regime in the first quarter monetary policy review, will review the policy rates in the second review.</p> <p>Governor of NRB, Mahaprasad Adhikari has also been indicating in public programs that the provisions of monetary policy will change according to time. He said, “Due to the arrangements made through the monetary policy, we have reached a somewhat comfortable situation. The provisions of the monetary policy are reviewed from time to time.”</p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16729', 'image' => '20230210075421_20230210043603_interest ratee.jpg', 'article_date' => '2023-02-10 19:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16989', 'article_category_id' => '243', 'title' => 'Huge Amount of Lithium Reserves Found in Jammu and Kashmir ', 'sub_title' => '', 'summary' => 'Huge amounts of lithium reserves have been found for the first time in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. ', 'content' => '<p> </p> <p><span style="font-size:18px">India (February 10): Huge amounts of lithium reserves have been found for the first time in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. </span></p> <p><span style="font-size:18px">So far, India has depended on Australia and Argentina for lithium imports. The Geological Survey of India found the lithium reserves in the Salal-Haimana area of Reasi district in Jammu and Kashmir, India's Ministry of Mines said. </span></p> <p><span style="font-size:18px">As much as 5.9m tonnes of the mineral have been discovered in Jammu and Kashmir. In 2021, much smaller deposits of the mineral were found in the southern state of Karnataka.</span></p> <p><span style="font-size:18px">"For the first time, lithium reserves have been discovered and that too in Jammu and Kashmir," Mines Secretary Vivek Bharadwaj said. Earlier, the government had said that it was looking to improve its supply of rare metals needed to boost new technologies and was looking for sources in India and abroad.</span></p> <p><span style="font-size:18px">Around the world the demand for rare metals, including lithium, has increased as countries look to adopt greener solutions to slow down climate change.</span></p> <p><span style="font-size:18px">Lithium is extracted from hard rocks and underground brine reservoirs largely found in Australia, Chile and Argentina.<br /> After the mineral is mined, it is roasted using fossil fuels, searing the landscape and leaving behind scars. </span></p> <p><span style="font-size:18px">The extraction process also requires a lot of water and releases large amounts of carbon dioxide into the atmosphere. According to the World Bank, mining of crucial minerals will need to increase by 500% to meet global climate targets by 2050.</span></p> <p><span style="font-size:18px">However, experts say that the process of mining lithium is not environment-friendly. (Agencies)</span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16727', 'image' => '20230210052100_collage - 2023-02-10T171719.098.jpg', 'article_date' => '2023-02-10 17:15:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '16987', 'article_category_id' => '1', 'title' => 'Supreme Court Rules in Favour of Foreign Investment in Agriculture', 'sub_title' => '', 'summary' => 'February: The Supreme Court (SC) has ruled in favor of the legal provision to allow foreign investment in the agricultural sector. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February: The Supreme Court (SC) has ruled in favor of the legal provision to allow foreign investment in the agricultural sector. The path to bring in foreign investment in the agricultural sector has been opened after SC rejected the petition demanding the non-implementation of the amendment to the Foreign Investment and Technology Transfer Act, 2075 to bring in foreign investment in the agricultural sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Earlier, the need for foreign investment in the agricultural sector was raised several times, but the obstacles to foreign investment could not be removed. Especially industrialists and businessmen have been arguing that small farmers cannot compete with foreign investment in agriculture.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government amended the Foreign Investment and Technology Transfer Act, 2075 to allow foreign investment in the agricultural sector with the objective of exporting 75 percent of the produce.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the said act, the government amended the previous provision that foreign investment could not be brought in the fields of livestock, fishery, beekeeping, fruits, vegetables, oilseeds, pulses, dairy business, etc. A writ was filed in the SC against such a provision made by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A few days ago, the full text of the decision of the SC’s division bench of justices Prakash Kumar Dhungana and Kumar Chudal dismissing the writ petition filed to prohibit foreign investment in the agriculture sector came out. In the text of the SC verdict, it is mentioned that there will be no negative impact on the domestic agricultural industry due to the opening of foreign investment, and there will be no loss or damage to the nation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The SC opined that since foreign investment is opened on the condition that at least 75 percent of the production is exported, small farmers and domestic production will not be affected. Similarly, it is mentioned in the full text that the provision of foreign investment will remain in place for industries that export agricultural products produced in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">SC said that technology will be transferred through foreign investment, the modernization of agriculture will increase and as a result, the quantity and quality of agricultural products will also increase. It is also mentioned in the full text that this will help in the import substitution of agricultural produce and increase employment due to foreign technology.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the full text of SC, large investment is required for commercial farming and when foreign investment comes in, not only investment but also technology and skills will come in. The verdict states, “Since foreign investment in agriculture does not seem to affect small farmers and domestic producers, it is not appropriate to think that foreign investment will affect domestic investment.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16726', 'image' => '20230210042029_Agri.jpg', 'article_date' => '2023-02-10 16:19:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16986', 'article_category_id' => '218', 'title' => 'Easing Liquidity Will Have Positive Impact on Stock Market: NRB ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank has said that increasing liquidity in the banking system will help improve stock market in the days to come. ', 'content' => '<p><br /> <span style="font-size:18px">February 10: Nepal Rastra Bank has said that the rising liquidity in the banking system will help improve stock market in the days to come. </span></p> <p><span style="font-size:18px">At a press meet organised after the half-yearly review of monetary policy of the current fiscal year 2022/23 published by Nepal Rastra Bank on Friday, NRB’s Executive Director Prakash Kumar Shrestha said liquidity was easing in the banking system and it would have a positive impact on the share market. </span></p> <p><span style="font-size:18px">“With the rise of deposits in the banking system, liquidity is becoming comfortable. This will have the positive effect on the stock market,” Shrestha added. </span></p> <p><span style="font-size:18px">Stating that the Nepal Rastra Bank’s current priority was to maintain the country’s financial stability, Director Shrestha held that half-yearly review of the monetary policy had kept the policy-level provisions unchanged for the same.</span><br /> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16725', 'image' => '20230210041632_collage - 2023-02-10T160337.889.jpg', 'article_date' => '2023-02-10 16:07:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16985', 'article_category_id' => '1', 'title' => 'Government Directs CAAN to suspend TIA Director General Thakur over Bribery Allegation', 'sub_title' => '', 'summary' => 'February 10: The Ministry of Culture, Tourism and Civil Aviation has directed the Civil Aviation Authority of Nepal (CAAN) to suspend Director General of the Tribhuvan International Airport (TIA) Prem Nath Thakur.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: The Ministry of Culture, Tourism and Civil Aviation has directed the Civil Aviation Authority of Nepal (CAAN) to suspend Director General of the Tribhuvan International Airport (TIA) Prem Nath Thakur. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry took such a decision following a revelation of an audio conversation in which Thakur is heard seeking personal benefits from an airline company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Joint Secretary Rajendra Kumar KC, who is also the ministry's spokesperson, confirmed that CAAN has been directed to fire Thakur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Thakur has been charged with holding a conversation with Thai Smile Airlines for his personal gains illegally. As per the cabinet decision, CAAN has been asked to suspend Thakur to help investigate the matter,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the ministry has urged the Commission for the Investigation of Abuse of Authority (CIAA) to launch further investigations into the matter, added KC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some days ago, the CIAA had arrested Purna Chudal, the TIA chief (domestic terminal) along with a bribe. Thakur’s involvement in seeking personal gains came to the fore after the arrest of Chudal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16724', 'image' => '20230210031858_CAAN.jpg', 'article_date' => '2023-02-10 15:17:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16984', 'article_category_id' => '1', 'title' => 'Monetary Policy Review Gives Relief to Borrowers ', 'sub_title' => '', 'summary' => 'February 10: The Nepal Rastra Bank (NRB) has adopted liberal policy with an objective of providing some relief to the borrowers. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 10: The Nepal Rastra Bank (NRB) has adopted liberal policy with an objective of providing some relief to the borrowers. The central bank has given some relief to the borrowers by publishing a half-yearly review of the monetary policy of the current fiscal year, 2022/23 on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank has made an arrangement so that banks cannot take penalty interest till mid-June 2023 if a borrower makes payment of loans along with interest within a month after the expiry of the deadline, reads the review. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, there is a provision that loans up to Rs 20 million floated through banks and financial institutions to facilitate to small and medium industries and businesses can be restructured within July 16 after analysing their cash flow and incomes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The monetary policy had mandated commercial banks to invest at least 11 percent of their total loans in agriculture sector, sic percent in energy sector and 11 percent in micro, cottage and small scale industries (less than Rs 10 million loans including deprived sector lending).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mid-term review states that commercial banks have invested 13 percent in agriculture (Rs 543.47 billion), 6.3 percent in energy sector (Rs 262.55 billion) and 9.5 percent in micro, cottage and small scale industries (Rs 396.91 billion) as of mid-December 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While issuing the mid-term review of the monetary policy, NRB stated that the monetary policy of the current fiscal year had set a target of increasing foreign exchange reserves that can support imports for seven months. The mid-term review states that the central bank has exceeded this target as the foreign exchange reserves of the country can support imports for 9.1 months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mid-term review also states that there has been a general improvement in the economy in the first six months of the current fiscal year compared to the corresponding period of last fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the average inter-bank rate, which was 4.77 percent in mid-December to mid-January a year ago has increased to 7.73 percent in the corresponding period of this year. The average inter-bank rate was 7.01 percent in mid-July last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16723', 'image' => '20230210042209_20220727022441_monetary policy.jpg', 'article_date' => '2023-02-10 14:42:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16983', 'article_category_id' => '1', 'title' => 'Industrialists Urge for Load Shedding Instead of Unannounced Power Cuts', 'sub_title' => '', 'summary' => 'February 10: Fed up with the frequent power cuts without prior notice, the industry operators of Bara-Parsa Industrial Corridor have requested the Nepal Electricity Authority (NEA) to announce load shedding rather than unannounced power cuts.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 10: Fed up with the frequent power cuts without prior notice, the industry operators of Bara-Parsa Industrial Corridor have requested the Nepal Electricity Authority (NEA) to announce load shedding rather than unannounced power cuts. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hari Gautam, coordinator of the industry committee under the Birgunj Chamber of Commerce and Industry, said that electricity is cut for 8/9 hours every day in the main industrial corridor.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the production of most of the industries has decreased. Industrialists claim that when the production has dropped to 25 percent, lack of electricity has added to the problem. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Gautam, who is also the vice president of the association, said, “There are problems in the production shift management as well due to power cuts without notice. Instead, it would have been easier if the schedule of load shedding was available.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industrialists complain that production has been badly affected due to the frequent power cuts without notice. Iron, cement and furnace-based industries which consume more electricity are affected more.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As compared to the previous years, the domestic production of electricity and import from India has decreased this year, due to which NEA started cutting its supply to the industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the authority's top officials, the power supply in the industry is reduced by 2/3 hours in order to manage the demand during peak hours. However, industrialists said that electricity is interrupted many times throughout the day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to NEA’s data, the demand for electricity in the peak hour is 1,700 megawatts. Authority officials say that domestic production is at most 1,300 MW and 400 MW is being imported from India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The authority claims that this year, production has decreased by 20 percent compared to last year's winter and imports from India are also affected, creating imbalance in supply and demand. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The authority buys electricity from India and has to pay more during peak hours, so it brings it during off hours. NEA has been importing mostly from Bihar of India and Bara-Parsa Industrial Corridor is supplied from the same line. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NEA spokesperson Suresh Bhattarai says that two thermal plants with a capacity of 1,400 megawatts in Bihar are damaged, so they have not been able to bring in the required amount of electricity.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Madhav Rajpal, vice president of the association, there are problems such as wastage of raw materials, reduction in production, burning and deterioration of equipment, and deterioration in the quality of products due to frequent power cuts in the industry. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He commented that a dark age has started in the industry less than four years after the end of load shedding.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Industrialists say that they have been trapped in an all-round crisis since the Covid-19 pandemic and the energy insecurity is hitting them even harder. Gautam complains that due to the recession in the market, the industry is running only for 12 hours, and due to the lack of regular electricity supply, it has not been able to run for even eight hours. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16722', 'image' => '20230210013223_NEA.jpg', 'article_date' => '2023-02-10 13:31:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16982', 'article_category_id' => '1', 'title' => 'Paddy Farmers Happy with Price Hike, Consumers Complain ', 'sub_title' => '', 'summary' => 'February 10: Farmers have felt a sense of relief this year with the rise in the price of paddy while the consumers are at the receiving end.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: Farmers have felt a sense of relief this year with the rise in the price of paddy while the consumers are at the receiving end. The price of paddy has increased by Rs 300 per quintal compared to the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As neighbouring India has imposed a quota on paddy export, the price of paddy in Nepal has increased along with the increase in price of paddy in India. India has fixed an export quota of 600,000 tons of paddy for Nepal in the current fiscal year </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the increase in the price of paddy, Sona Mansuli variety of rice available at Rs 48 per kg now costs Rs 58 per kg while the price of Mansuli has reached Rs 64 from Rs 50 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of Madhes province, including Parsa, a pocket area for paddy production, have been suffering due to low price but they have finally got some relief. Sitaram Prasad, a farmer of Lalparsa in Birgunj Ward No 30, says, "The price of paddy does not even meet the cost of production, but this time it has increased." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Kismatia Devi, a paddy farmer of Sabathwa-4, Parsa, however said although the new price is some relief, it is not enough. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, even though the farmers are happy with the increase in the price of paddy the consumers are at the receiving end. The price of rice has increased by Rs 15 to 25 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sarita Devi Kurmi of Birgunj Metropolis, Ward No 12 said the sudden increase in the price of rice has made daily expenses hard to meet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central President of Nepal Rice, Oil and Pulses Industry Association, Subodh Gupta, says Nepal still depends on India to meet 50 to 60 percent demand for paddy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> “Since India has increased the support price for paddy, it has led to an increase in the price of rice, which is mostly imported from India,” says Gupta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16721', 'image' => '20230210115354_640px-Rice_Plants_(IRRI).jpg', 'article_date' => '2023-02-10 11:53:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16981', 'article_category_id' => '1', 'title' => 'Asian Hydropower Limited Opens Sale Of IPO to General Public ', 'sub_title' => '', 'summary' => 'Asian Hydropower Limited is opening sale of its Initial Public Offering (IPO) to the general public in the second phase from Friday.', 'content' => '<p><span style="font-size:18px">February 10: Asian Hydropower Limited is opening sale of its Initial Public Offering (IPO) to the general public in the second phase from Friday.</span></p> <p><span style="font-size:18px">The company is offering 7,56,000 units of shares to the general public, including the mutual fund schemes and employees of the company.</span></p> <p><span style="font-size:18px">Out of the total shares, 42,000 units of shares have been allotted to the mutual fund schemes. Likewise, 16,000 shares have been set aside for the employees of the company.</span></p> <p><span style="font-size:18px"> General public an participate in the remaining 6,97,200 units of shares.<br /> Interested investors can apply for a minim of 10 kitta and a maximum of 20,000 kitta of shares at a face value of Rs 100.</span></p> <p><span style="font-size:18px">The offer will end on February 14. If the IPO remains under-subscribed, the deadline will extend until February 24.<br /> In the first phase, the hydropower company had issued and allotted public offerings to the project affected locals of Ilam district and Nepali citizens working in foreign countries.</span></p> <p><span style="font-size:18px">Asian Hydropower Limited has developed Lower Jogmai Khola Hydropower in Ilam district. The run-of-the river project has installed capacity of 6.2 megawatts.</span></p> <p><span style="font-size:18px">The project has been producing power for the last one year. Per megawatt cost for the hydropower construction stands at Rs 21.15 crores</span></p> <p><span style="font-size:18px">NMB Capital is the issue and sales manager of the hydropower company. Interested individuals can apply for the IPO from all C-ASBA-approved banks and financial institutions by the Securities Board of Nepal (SEBON). The IPO can also be purchased from Meroshare.</span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16720', 'image' => '20230210061838_collage (64) (1).jpg', 'article_date' => '2023-02-10 06:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '16980', 'article_category_id' => '1', 'title' => 'Flights to and from Baitadi's Patan Airport Closed for the Last Ten Months ', 'sub_title' => '', 'summary' => 'Flights to and from Patan airport in Baitadi have remained shut for the past ten months. Costly air fare and lack of passengers have halted the flight along the Dhangadhi-Baitadi-Dhangadhi air route for months.', 'content' => '<p><br /> <span style="font-size:18px">February 9: Flights to and from Patan airport in Baitadi have remained shut for the past ten months. Costly air fare and lack of passengers have halted the flight along the Dhangadhi-Baitadi-Dhangadhi air route for months.</span></p> <p><span style="font-size:18px">The airport was brought into operation by spending Rs 110 million for its blacktopping. Unfortunately, flight remained closed for months.</span></p> <p><span style="font-size:18px"> Summit Air was conducting a single flight to and from Patan airport every Thursday. The last time the flight was conducted from the airport was on 24 March, 2022. </span></p> <p><span style="font-size:18px">Summit Air’s representative Krishna Datta Bhatta says that chances of resuming flight are still uncertain. Eighteen minutes’ flight from Patan to Dhangadhi costs Rs 5,000 per person. </span></p> <p><span style="font-size:18px">Local Chaman Bhandari shared that closure of the air service has made it difficult for the emergency patients to reach to the well-facilitated hospital and employees to get to their workplace. </span></p> <p><span style="font-size:18px">Patan airport is the second largest in Sudurpaschim Province. The airport was brought into operation in 2077 after a long hiatus of 26 years. Patan airport that came into operation in 2036 for the first time was closed till 2051.</span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16719', 'image' => '20230209050256_collage - 2023-02-09T165454.173.jpg', 'article_date' => '2023-02-09 16:58:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '16979', 'article_category_id' => '1', 'title' => 'Government Determined to Promote Industrial Sector, Says Industry Minister Damodar Bhandari ', 'sub_title' => '', 'summary' => ' Minister for Industry, Commerce and Supplies, Damodar Bhandari, said the government was committed to the promotion of industrial sector in Nepal. ', 'content' => '<p><span style="font-size:18px">February 9: Minister for Industry, Commerce and Supplies, Damodar Bhandari, said the government was committed to the promotion of industrial sector in Nepal. </span></p> <p><span style="font-size:18px">Minister Bhandari reiterated that the government was seriously working for the promotion of the industrial sector by transforming challenges into opportunities. </span></p> <p><span style="font-size:18px"> During a programme organised by the Kailali Chamber of Commerce in Dhangadhi on Thursday, the Minister said the cooperation from the private sector would be sought to revive some of the sick industries. </span></p> <p><span style="font-size:18px">Bhandari argued that more areas of industrial potentialities would be explored with a focus on the Sudurapschim Province for industrial expansion and promotion. </span></p> <p><span style="font-size:18px">Stating that prompt service delivery was the priority of the government, the Minister assured that the incumbent government would wholeheartedly work for good governance and prosperity.</span></p> <p><span style="font-size:18px">Minister Bhandari informed that subordinate bodies under the Ministry had been already directed to explore potentials in the specific areas. “Darchula has the mining of copper and lead, Baitadi has iron mining and other districts may have many more potentialities and we have prioritized these probabilities,” he added.</span></p> <p><span style="font-size:18px">A dry port based in Dodhara Chandani of Kanchanpur would be brought into operation soon, according to the minister. </span><br /> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16718', 'image' => '20230209033910_collage - 2023-02-09T153503.084.jpg', 'article_date' => '2023-02-09 15:34:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '16978', 'article_category_id' => '1', 'title' => 'Will the Crisis Faced by Adani Group have any Impact in Nepal?', 'sub_title' => '', 'summary' => 'February 9: Allegations of stock market manipulation and fraud have halved the net worth of Indian tycoon Gautam Adani, one of the wealthiest people in the world, and wiped out more than US$ 110 billion from his listed firms in India in less than two weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">February 9: Allegations of stock market manipulation and fraud have halved the net worth of Indian tycoon Gautam Adani, one of the wealthiest people in the world, and wiped out more than US$ 110 billion from his listed firms in India in less than two weeks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Forbes magazine ranked Adani as the third-richest person in the world. But a recent stock rout has caused his fortune to take a nosedive, as he faces allegations of stock manipulation and debt concerns by US-based short-seller Hindenburg Research.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to data from Forbes, Adani had a net worth of US$ 2.8 billion in 2014, just before Narendra Modi – who is from the same state of Gujrat where Adani comes from – was elected as India’s prime minister. That wealth had catapulted to US$ 126.4 billion until the Hindenburg Research report on January 24 sent his business, which involves ports, airports, gas distribution, green energy, data centres, agri logistics, edible oil, and power generation and transmission, among others, into crisis, reported Al Jazeera.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the Doha-based media network, the Hindenburg report alleged that Adani family members cooperated to create offshore shell entities in tax-haven jurisdictions like Mauritius, the United Arab Emirates and several Caribbean islands, generating forged import/export documentation in an apparent effort to spur fake or illegitimate turnover and siphon money from the listed companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Adani Group has defended itself stating that the report was issued with a “mala fide intention” to damage its reputation, days before the group was set to hold a public secondary share sale to raise $2.5bn, the largest such sale in the country. The Adani Group has alleged that the report’s “principal objective” was to derail the share offer.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">With investor confidence shaken, legislators have demanded an investigation into his businesses as his listed companies’ shares slipped. However, the latest reports have indicated that the shares of his companies have improved in the last three days.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Hindu, one of the leading newspapers of India, wrote that the fall in shares of Adani Group will have implications on businesses and economies of India as well as its neighbouring countries Nepal, Bangladesh and Sri Lanka.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The newspaper argues that Nepal’s hydropower sector will be particularly affected as Adani Group was planning to build infrastructures related to trans-border transmission lines that would connect Nepal, Bhutan, India, Bangladesh and possibly Sri Lanka in the future.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The newspaper revealed that Adani Group had shown special interest in hydropower projects in Karnali after the then Prime Minister of Nepal Sher Bahadur and Indian PM Modi issued a joint statement of cooperation in hydropower sector during Duba’s state visit to India last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The group had made verbal proposal during unofficial discussions to invest in various hydropower projects and transmission lines within Nepal and also for the cross-border transmission lines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">However, Adani Group has not signed any kind of investment agreement with Nepal in regard to the hydropower sector and therefore the fall in shares of the group will not have any implications on Nepal, argues Aashish Garg, vice president of the Independent Power Producers Association of Nepal (IPPAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“It seems that the Adani Group has not invested a single penny in Nepal. It is normal for a big company to show interest in hydropower sector of Nepal,” said Garg, adding, “In the present context, the crisis faced by Adani Group will not have any impact in Nepal.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Investment Board Nepal also clarified that Adani Group had shown interest through various means to invest in Nepal but have not held any official discussion in this regard.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">IBN’s Spokesperson Amrit Lamsal confirmed that the group has not had any official agreement with Nepal for investment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Nepal Electricity Authority’s Spokesperson Suresh Bhattarai also said that the state-owned power utility has not signed any such agreement with Adani Group.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Bhattarrai further said that even if such a big business conglomerate wishes to invest in Nepal, there won’t be any problem for source of funding.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16717', 'image' => '20230209025321_1675909175.Clipboard12.jpg', 'article_date' => '2023-02-09 14:52:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16977', 'article_category_id' => '1', 'title' => 'Roses worth Rs 24.7 Million Imported in a Week', 'sub_title' => '', 'summary' => 'February 9: Roses worth almost Rs 25 million have been imported into the country within a week for the Valentine's Day. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 9: Roses worth almost Rs 25 million have been imported into the country within a week for the Valentine's Day. According to the data of Nepal Floriculture Association, 260,000 stem roses worth Rs 24.7 million were imported from India for the Valentine's Day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It is estimated that 280,000 stem roses (both imported and local) will be traded in Nepal throughout the period of Valentine’s Day. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The association estimates that 168,000 stem rose alone will be consumed in the Kathmandu Valley while 112,000 stem roses will be consumed in the cities outside the valley. Last year, on the occasion of Valentine’s Day, 277,000 stem roses were traded in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Min Bahadur Tamang, president of the association, domestic production will meet 7 percent of the total market demand for roses this time. The rest of 93 percent of the demand will be fulfill by importing roses from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A few years ago, Nepal used to import 65 percent of the roses needed for Valentine's Day from India while the rest of 35 percent demand was met by roses produced in the domestic market of Nepal. Tamang said that the import in recent years has skyrocketed due to the Covid-19 pandemic as some florists left the business while others reduced their investment. The domestic production is expected to increase from next year as the pandemic has already subsided.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Last year, the price of rose was between Rs 80 to Rs 100 per stem. This year, the roses are being sold for Rs 80 to Rs 120. In Nepal, there is a demand for about 10,000 steam roses even on normal days except for festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Floriculture Association, the commercial farming of roses in Nepal is done in Kathmandu, Bhaktapur, Lalitpur, Chitwan and Kavre, while its cultivation has started expanding in other districts as well.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16716', 'image' => '20230209011533_20190214040655__RAB0977.jpg', 'article_date' => '2023-02-09 13:14:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 11: President Bidya Devi Bhandari has underscored the need for wiping out legal ambiguities and addressing interests and pressure of multi-stakeholders for intensifying development projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In her address to the joint sitting of the federal parliaments on Friday, President Bhandari expressed concerns regarding the lacklusture pace of development projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to address the problems, an enabling legislation should be immediately adopted and implemented. The legislation should facilitate the procurement process, utilization of forest area and public land, human resources management, contract management, linking employees’ performance appraisal to their performance level, inter-agency coordination, and incentives for project managers,” she said in the address. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> According to the president, all sides’ attention is required to guarantee quality of infrastructures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Development activities cannot move properly in the absence of quality infrastructure. I am confident that the government will pay attention not only to the construction of infrastructure but also to the regular maintenance of the existing infrastructure by ensuring the implementation of an action plan with adequate resources,” President Bhandari said, adding that the development of an appropriate mechanism of mutual coordination for the integrated construction of different types of infrastructures at the beginning of the project would help build necessary coordination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the president said attention must be paid to the proper utilization of resources in the selection and construction of infrastructure projects. Small projects that are implemented without necessary study and analyses lead to the misuse of resources and fail to yield the desired returns, said the president. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Instead of allocating the budget for such small projects yielding no returns, it is better to manage the resources to ensure that the ongoing projects are completed within the stipulated timeframe,” she said, expressing confidence that the government would prepare its policies and programmes accordingly in the days ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strategic infrastructure projects should be selected and built keeping national security at the core, according to her. Roads should be constructed not only as conventional infrastructure but also as links emotionally connecting the citizens of the country. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further believed that our priorities should include developing standard road network at all wards of the local level, linking the services provided by the state with the road network, developing transport infrastructure to facilitate the means of transportation and to deliver the goods and services to the market, providing easy and accessible transportation facilities to the common people, completing the ongoing road construction within the stipulated time, and marking road transportation safe and reliable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari was for preparing the framework of infrastructure development only upon ensuring the necessity, relevance and sustainability of the infrastructure. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-02-11', 'modified' => '2023-02-11', 'keywords' => '', 'description' => '', 'sortorder' => '16731', 'image' => '20230211064849_RP_Kanchanpur-2(1).jpg', 'article_date' => '2023-02-11 18:48:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16991', 'article_category_id' => '1', 'title' => 'President for Coordinated Efforts to Boost Production ', 'sub_title' => '', 'summary' => 'February 10: President Bidya Devi Bhandari has stressed on the need for the government to implement a coordinated programme to increase production, as the domestic production needs to be strengthened in order to improve the economy. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: President Bidya Devi Bhandari has stressed on the need for the government to implement a coordinated programme to increase production, as the domestic production needs to be strengthened in order to improve the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In her address to the joint sitting of both Houses of the Federal Parliament on Friday, the president said, "The agriculture sector still remains our area of comparative and competitive advantage." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari suggested that providing subsidies in agriculture on the basis of the quantity of production would provide an incentive to increase production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“For this, it is necessary to have coordinated implementation of programmes on fertilizers, seeds, agricultural extension services, irrigation, capital and land while keeping agricultural output at the forefront,” she said. Furthermore, the value chain can be maintained by strengthening the internal distribution system and assisting the farmers to receive the right price for their produce on time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The president also noted that trade deficit can be reduced if agricultural programmes could be implemented in such a way that leads to self-sufficiency in certain food items within a specified timeline and then enabling to export surplus items. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The government should focus on creating an investment-friendly environment by providing the basic infrastructure, protecting the investment and building the necessary infrastructure up to the production site to boost production.” -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16730', 'image' => '20230210100726_President Bhandari addressing a joint meeting at Parliament House, 1.jpg', 'article_date' => '2023-02-10 22:06:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16990', 'article_category_id' => '1', 'title' => 'Interest Rate on Internal Debts of Government Increasing', 'sub_title' => '', 'summary' => 'February 10: Nepal Rastra Bank (NRB) issued a tight monetary policy for the current fiscal year and increased the policy rates. ', 'content' => '<p>February 10: Nepal Rastra Bank (NRB) issued a tight monetary policy for the current fiscal year and increased the policy rates. While under pressure from the external sector including high exchange rate deficit and declining foreign exchange reserves, NRB took a policy of tightening loans by increasing interest rates. Due to this, the internal interest rate of the government also became expensive.</p> <p>As NRB increased the policy rates, the banks started increasing the interest rate, making the interest of internal debt collected by the government through various monetary instruments expensive.</p> <p>NRB announced the monetary policy for the current year on July 23. Immediately after the announcement of the monetary policy, the government issued treasury bills as a tool for raising short-term domestic debt. Banks increased the interest rate on 91-day treasury bills issued on July 26 by 2.67 percentage points which was in single digits before the monetary policy.</p> <p>After that, NRB intervened several times and bought Treasury Bills itself, but the interest rate could not be reduced. So, NRB has to pay high interest rates when raising internal debt through Treasury Bills.</p> <p>Lately, the interest rate of the treasury started to decrease after the liquidity situation in the banks and financial institutions eased, but still, the interest rate is becoming more expensive for the government compared to the last FY. Last year, the interest rate of 28-day treasury bills remained at 4.72 percent.</p> <p>In the current year, the lowest interest rate for 28-day treasury was maintained on January 30 at 5.9 percent. Similarly, 9.18 percent interest rate is maintained on 91-day treasury bills, while the interest rate on 182- and 364-day treasury bills is still in double digits.</p> <p>Similarly, the interest rate of internal debt raised by the government through development bonds also became expensive. In the current year, the government raised Rs 30 billion through development bonds for a period of 2 to 5 years. Its average interest rate remained at 9.95 percent. Last year, when the government raised domestic debt through development bonds, the average interest rate was only 7.74 percent.</p> <p>As of last year, the internal debt of the government is Rs 984 billion. In the current fiscal year, the government set a target of raising domestic debt of Rs 256 billion. Out of that, Rs 30 billion of debt was raised in the second quarter. Similarly, the target is to raise Rs 88 billion in the third quarter and Rs 138 billion in the fourth quarter.</p> <p>Through the monetary policy of the current year, NRB adopted a policy of tightening the loans by increasing the interest rate. Through the policy, the bank rate increased by 1.5 percentage points to 8.5 percent. The deadline for standing liquidity facility (SLF) taken by banks for liquidity management also reduced from 2 days to 5 days only. Similarly, the policy rate increased from 5.5 percent to 7 percent, and the deposit collection rate increased from 4 percent to 5.5 percent.</p> <p>Interest rates of banks are becoming more expensive due to increase in policy rates and lack of liquidity in the financial system. However, as the liquidity situation in the financial system eased recently and the external pressure on the economy decreased, experts say that the internal economy should be made viable by reducing the policy rate through a review of the monetary policy.</p> <p>Former banker Analraj Bhattarai said, “Even though the external pressure on the economy is less now, the internal economy has not been able to run due to high interest rates. NRB should review the monetary policy.”</p> <p>NRB is conducting its half-yearly review of monetary policy today (Friday). It is expected that NRB, which maintained the policy regime in the first quarter monetary policy review, will review the policy rates in the second review.</p> <p>Governor of NRB, Mahaprasad Adhikari has also been indicating in public programs that the provisions of monetary policy will change according to time. He said, “Due to the arrangements made through the monetary policy, we have reached a somewhat comfortable situation. The provisions of the monetary policy are reviewed from time to time.”</p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16729', 'image' => '20230210075421_20230210043603_interest ratee.jpg', 'article_date' => '2023-02-10 19:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16989', 'article_category_id' => '243', 'title' => 'Huge Amount of Lithium Reserves Found in Jammu and Kashmir ', 'sub_title' => '', 'summary' => 'Huge amounts of lithium reserves have been found for the first time in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. ', 'content' => '<p> </p> <p><span style="font-size:18px">India (February 10): Huge amounts of lithium reserves have been found for the first time in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. </span></p> <p><span style="font-size:18px">So far, India has depended on Australia and Argentina for lithium imports. The Geological Survey of India found the lithium reserves in the Salal-Haimana area of Reasi district in Jammu and Kashmir, India's Ministry of Mines said. </span></p> <p><span style="font-size:18px">As much as 5.9m tonnes of the mineral have been discovered in Jammu and Kashmir. In 2021, much smaller deposits of the mineral were found in the southern state of Karnataka.</span></p> <p><span style="font-size:18px">"For the first time, lithium reserves have been discovered and that too in Jammu and Kashmir," Mines Secretary Vivek Bharadwaj said. Earlier, the government had said that it was looking to improve its supply of rare metals needed to boost new technologies and was looking for sources in India and abroad.</span></p> <p><span style="font-size:18px">Around the world the demand for rare metals, including lithium, has increased as countries look to adopt greener solutions to slow down climate change.</span></p> <p><span style="font-size:18px">Lithium is extracted from hard rocks and underground brine reservoirs largely found in Australia, Chile and Argentina.<br /> After the mineral is mined, it is roasted using fossil fuels, searing the landscape and leaving behind scars. </span></p> <p><span style="font-size:18px">The extraction process also requires a lot of water and releases large amounts of carbon dioxide into the atmosphere. According to the World Bank, mining of crucial minerals will need to increase by 500% to meet global climate targets by 2050.</span></p> <p><span style="font-size:18px">However, experts say that the process of mining lithium is not environment-friendly. (Agencies)</span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16727', 'image' => '20230210052100_collage - 2023-02-10T171719.098.jpg', 'article_date' => '2023-02-10 17:15:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '16987', 'article_category_id' => '1', 'title' => 'Supreme Court Rules in Favour of Foreign Investment in Agriculture', 'sub_title' => '', 'summary' => 'February: The Supreme Court (SC) has ruled in favor of the legal provision to allow foreign investment in the agricultural sector. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February: The Supreme Court (SC) has ruled in favor of the legal provision to allow foreign investment in the agricultural sector. The path to bring in foreign investment in the agricultural sector has been opened after SC rejected the petition demanding the non-implementation of the amendment to the Foreign Investment and Technology Transfer Act, 2075 to bring in foreign investment in the agricultural sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Earlier, the need for foreign investment in the agricultural sector was raised several times, but the obstacles to foreign investment could not be removed. Especially industrialists and businessmen have been arguing that small farmers cannot compete with foreign investment in agriculture.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government amended the Foreign Investment and Technology Transfer Act, 2075 to allow foreign investment in the agricultural sector with the objective of exporting 75 percent of the produce.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the said act, the government amended the previous provision that foreign investment could not be brought in the fields of livestock, fishery, beekeeping, fruits, vegetables, oilseeds, pulses, dairy business, etc. A writ was filed in the SC against such a provision made by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A few days ago, the full text of the decision of the SC’s division bench of justices Prakash Kumar Dhungana and Kumar Chudal dismissing the writ petition filed to prohibit foreign investment in the agriculture sector came out. In the text of the SC verdict, it is mentioned that there will be no negative impact on the domestic agricultural industry due to the opening of foreign investment, and there will be no loss or damage to the nation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The SC opined that since foreign investment is opened on the condition that at least 75 percent of the production is exported, small farmers and domestic production will not be affected. Similarly, it is mentioned in the full text that the provision of foreign investment will remain in place for industries that export agricultural products produced in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">SC said that technology will be transferred through foreign investment, the modernization of agriculture will increase and as a result, the quantity and quality of agricultural products will also increase. It is also mentioned in the full text that this will help in the import substitution of agricultural produce and increase employment due to foreign technology.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the full text of SC, large investment is required for commercial farming and when foreign investment comes in, not only investment but also technology and skills will come in. The verdict states, “Since foreign investment in agriculture does not seem to affect small farmers and domestic producers, it is not appropriate to think that foreign investment will affect domestic investment.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16726', 'image' => '20230210042029_Agri.jpg', 'article_date' => '2023-02-10 16:19:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16986', 'article_category_id' => '218', 'title' => 'Easing Liquidity Will Have Positive Impact on Stock Market: NRB ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank has said that increasing liquidity in the banking system will help improve stock market in the days to come. ', 'content' => '<p><br /> <span style="font-size:18px">February 10: Nepal Rastra Bank has said that the rising liquidity in the banking system will help improve stock market in the days to come. </span></p> <p><span style="font-size:18px">At a press meet organised after the half-yearly review of monetary policy of the current fiscal year 2022/23 published by Nepal Rastra Bank on Friday, NRB’s Executive Director Prakash Kumar Shrestha said liquidity was easing in the banking system and it would have a positive impact on the share market. </span></p> <p><span style="font-size:18px">“With the rise of deposits in the banking system, liquidity is becoming comfortable. This will have the positive effect on the stock market,” Shrestha added. </span></p> <p><span style="font-size:18px">Stating that the Nepal Rastra Bank’s current priority was to maintain the country’s financial stability, Director Shrestha held that half-yearly review of the monetary policy had kept the policy-level provisions unchanged for the same.</span><br /> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16725', 'image' => '20230210041632_collage - 2023-02-10T160337.889.jpg', 'article_date' => '2023-02-10 16:07:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16985', 'article_category_id' => '1', 'title' => 'Government Directs CAAN to suspend TIA Director General Thakur over Bribery Allegation', 'sub_title' => '', 'summary' => 'February 10: The Ministry of Culture, Tourism and Civil Aviation has directed the Civil Aviation Authority of Nepal (CAAN) to suspend Director General of the Tribhuvan International Airport (TIA) Prem Nath Thakur.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: The Ministry of Culture, Tourism and Civil Aviation has directed the Civil Aviation Authority of Nepal (CAAN) to suspend Director General of the Tribhuvan International Airport (TIA) Prem Nath Thakur. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry took such a decision following a revelation of an audio conversation in which Thakur is heard seeking personal benefits from an airline company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Joint Secretary Rajendra Kumar KC, who is also the ministry's spokesperson, confirmed that CAAN has been directed to fire Thakur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Thakur has been charged with holding a conversation with Thai Smile Airlines for his personal gains illegally. As per the cabinet decision, CAAN has been asked to suspend Thakur to help investigate the matter,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the ministry has urged the Commission for the Investigation of Abuse of Authority (CIAA) to launch further investigations into the matter, added KC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some days ago, the CIAA had arrested Purna Chudal, the TIA chief (domestic terminal) along with a bribe. Thakur’s involvement in seeking personal gains came to the fore after the arrest of Chudal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16724', 'image' => '20230210031858_CAAN.jpg', 'article_date' => '2023-02-10 15:17:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16984', 'article_category_id' => '1', 'title' => 'Monetary Policy Review Gives Relief to Borrowers ', 'sub_title' => '', 'summary' => 'February 10: The Nepal Rastra Bank (NRB) has adopted liberal policy with an objective of providing some relief to the borrowers. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 10: The Nepal Rastra Bank (NRB) has adopted liberal policy with an objective of providing some relief to the borrowers. The central bank has given some relief to the borrowers by publishing a half-yearly review of the monetary policy of the current fiscal year, 2022/23 on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank has made an arrangement so that banks cannot take penalty interest till mid-June 2023 if a borrower makes payment of loans along with interest within a month after the expiry of the deadline, reads the review. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, there is a provision that loans up to Rs 20 million floated through banks and financial institutions to facilitate to small and medium industries and businesses can be restructured within July 16 after analysing their cash flow and incomes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The monetary policy had mandated commercial banks to invest at least 11 percent of their total loans in agriculture sector, sic percent in energy sector and 11 percent in micro, cottage and small scale industries (less than Rs 10 million loans including deprived sector lending).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mid-term review states that commercial banks have invested 13 percent in agriculture (Rs 543.47 billion), 6.3 percent in energy sector (Rs 262.55 billion) and 9.5 percent in micro, cottage and small scale industries (Rs 396.91 billion) as of mid-December 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While issuing the mid-term review of the monetary policy, NRB stated that the monetary policy of the current fiscal year had set a target of increasing foreign exchange reserves that can support imports for seven months. The mid-term review states that the central bank has exceeded this target as the foreign exchange reserves of the country can support imports for 9.1 months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mid-term review also states that there has been a general improvement in the economy in the first six months of the current fiscal year compared to the corresponding period of last fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the average inter-bank rate, which was 4.77 percent in mid-December to mid-January a year ago has increased to 7.73 percent in the corresponding period of this year. The average inter-bank rate was 7.01 percent in mid-July last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16723', 'image' => '20230210042209_20220727022441_monetary policy.jpg', 'article_date' => '2023-02-10 14:42:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16983', 'article_category_id' => '1', 'title' => 'Industrialists Urge for Load Shedding Instead of Unannounced Power Cuts', 'sub_title' => '', 'summary' => 'February 10: Fed up with the frequent power cuts without prior notice, the industry operators of Bara-Parsa Industrial Corridor have requested the Nepal Electricity Authority (NEA) to announce load shedding rather than unannounced power cuts.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 10: Fed up with the frequent power cuts without prior notice, the industry operators of Bara-Parsa Industrial Corridor have requested the Nepal Electricity Authority (NEA) to announce load shedding rather than unannounced power cuts. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hari Gautam, coordinator of the industry committee under the Birgunj Chamber of Commerce and Industry, said that electricity is cut for 8/9 hours every day in the main industrial corridor.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the production of most of the industries has decreased. Industrialists claim that when the production has dropped to 25 percent, lack of electricity has added to the problem. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Gautam, who is also the vice president of the association, said, “There are problems in the production shift management as well due to power cuts without notice. Instead, it would have been easier if the schedule of load shedding was available.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industrialists complain that production has been badly affected due to the frequent power cuts without notice. Iron, cement and furnace-based industries which consume more electricity are affected more.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As compared to the previous years, the domestic production of electricity and import from India has decreased this year, due to which NEA started cutting its supply to the industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the authority's top officials, the power supply in the industry is reduced by 2/3 hours in order to manage the demand during peak hours. However, industrialists said that electricity is interrupted many times throughout the day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to NEA’s data, the demand for electricity in the peak hour is 1,700 megawatts. Authority officials say that domestic production is at most 1,300 MW and 400 MW is being imported from India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The authority claims that this year, production has decreased by 20 percent compared to last year's winter and imports from India are also affected, creating imbalance in supply and demand. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The authority buys electricity from India and has to pay more during peak hours, so it brings it during off hours. NEA has been importing mostly from Bihar of India and Bara-Parsa Industrial Corridor is supplied from the same line. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NEA spokesperson Suresh Bhattarai says that two thermal plants with a capacity of 1,400 megawatts in Bihar are damaged, so they have not been able to bring in the required amount of electricity.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Madhav Rajpal, vice president of the association, there are problems such as wastage of raw materials, reduction in production, burning and deterioration of equipment, and deterioration in the quality of products due to frequent power cuts in the industry. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He commented that a dark age has started in the industry less than four years after the end of load shedding.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Industrialists say that they have been trapped in an all-round crisis since the Covid-19 pandemic and the energy insecurity is hitting them even harder. Gautam complains that due to the recession in the market, the industry is running only for 12 hours, and due to the lack of regular electricity supply, it has not been able to run for even eight hours. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16722', 'image' => '20230210013223_NEA.jpg', 'article_date' => '2023-02-10 13:31:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16982', 'article_category_id' => '1', 'title' => 'Paddy Farmers Happy with Price Hike, Consumers Complain ', 'sub_title' => '', 'summary' => 'February 10: Farmers have felt a sense of relief this year with the rise in the price of paddy while the consumers are at the receiving end.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: Farmers have felt a sense of relief this year with the rise in the price of paddy while the consumers are at the receiving end. The price of paddy has increased by Rs 300 per quintal compared to the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As neighbouring India has imposed a quota on paddy export, the price of paddy in Nepal has increased along with the increase in price of paddy in India. India has fixed an export quota of 600,000 tons of paddy for Nepal in the current fiscal year </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the increase in the price of paddy, Sona Mansuli variety of rice available at Rs 48 per kg now costs Rs 58 per kg while the price of Mansuli has reached Rs 64 from Rs 50 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of Madhes province, including Parsa, a pocket area for paddy production, have been suffering due to low price but they have finally got some relief. Sitaram Prasad, a farmer of Lalparsa in Birgunj Ward No 30, says, "The price of paddy does not even meet the cost of production, but this time it has increased." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Kismatia Devi, a paddy farmer of Sabathwa-4, Parsa, however said although the new price is some relief, it is not enough. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, even though the farmers are happy with the increase in the price of paddy the consumers are at the receiving end. The price of rice has increased by Rs 15 to 25 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sarita Devi Kurmi of Birgunj Metropolis, Ward No 12 said the sudden increase in the price of rice has made daily expenses hard to meet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central President of Nepal Rice, Oil and Pulses Industry Association, Subodh Gupta, says Nepal still depends on India to meet 50 to 60 percent demand for paddy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> “Since India has increased the support price for paddy, it has led to an increase in the price of rice, which is mostly imported from India,” says Gupta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16721', 'image' => '20230210115354_640px-Rice_Plants_(IRRI).jpg', 'article_date' => '2023-02-10 11:53:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16981', 'article_category_id' => '1', 'title' => 'Asian Hydropower Limited Opens Sale Of IPO to General Public ', 'sub_title' => '', 'summary' => 'Asian Hydropower Limited is opening sale of its Initial Public Offering (IPO) to the general public in the second phase from Friday.', 'content' => '<p><span style="font-size:18px">February 10: Asian Hydropower Limited is opening sale of its Initial Public Offering (IPO) to the general public in the second phase from Friday.</span></p> <p><span style="font-size:18px">The company is offering 7,56,000 units of shares to the general public, including the mutual fund schemes and employees of the company.</span></p> <p><span style="font-size:18px">Out of the total shares, 42,000 units of shares have been allotted to the mutual fund schemes. Likewise, 16,000 shares have been set aside for the employees of the company.</span></p> <p><span style="font-size:18px"> General public an participate in the remaining 6,97,200 units of shares.<br /> Interested investors can apply for a minim of 10 kitta and a maximum of 20,000 kitta of shares at a face value of Rs 100.</span></p> <p><span style="font-size:18px">The offer will end on February 14. If the IPO remains under-subscribed, the deadline will extend until February 24.<br /> In the first phase, the hydropower company had issued and allotted public offerings to the project affected locals of Ilam district and Nepali citizens working in foreign countries.</span></p> <p><span style="font-size:18px">Asian Hydropower Limited has developed Lower Jogmai Khola Hydropower in Ilam district. The run-of-the river project has installed capacity of 6.2 megawatts.</span></p> <p><span style="font-size:18px">The project has been producing power for the last one year. Per megawatt cost for the hydropower construction stands at Rs 21.15 crores</span></p> <p><span style="font-size:18px">NMB Capital is the issue and sales manager of the hydropower company. Interested individuals can apply for the IPO from all C-ASBA-approved banks and financial institutions by the Securities Board of Nepal (SEBON). The IPO can also be purchased from Meroshare.</span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16720', 'image' => '20230210061838_collage (64) (1).jpg', 'article_date' => '2023-02-10 06:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '16980', 'article_category_id' => '1', 'title' => 'Flights to and from Baitadi's Patan Airport Closed for the Last Ten Months ', 'sub_title' => '', 'summary' => 'Flights to and from Patan airport in Baitadi have remained shut for the past ten months. Costly air fare and lack of passengers have halted the flight along the Dhangadhi-Baitadi-Dhangadhi air route for months.', 'content' => '<p><br /> <span style="font-size:18px">February 9: Flights to and from Patan airport in Baitadi have remained shut for the past ten months. Costly air fare and lack of passengers have halted the flight along the Dhangadhi-Baitadi-Dhangadhi air route for months.</span></p> <p><span style="font-size:18px">The airport was brought into operation by spending Rs 110 million for its blacktopping. Unfortunately, flight remained closed for months.</span></p> <p><span style="font-size:18px"> Summit Air was conducting a single flight to and from Patan airport every Thursday. The last time the flight was conducted from the airport was on 24 March, 2022. </span></p> <p><span style="font-size:18px">Summit Air’s representative Krishna Datta Bhatta says that chances of resuming flight are still uncertain. Eighteen minutes’ flight from Patan to Dhangadhi costs Rs 5,000 per person. </span></p> <p><span style="font-size:18px">Local Chaman Bhandari shared that closure of the air service has made it difficult for the emergency patients to reach to the well-facilitated hospital and employees to get to their workplace. </span></p> <p><span style="font-size:18px">Patan airport is the second largest in Sudurpaschim Province. The airport was brought into operation in 2077 after a long hiatus of 26 years. Patan airport that came into operation in 2036 for the first time was closed till 2051.</span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16719', 'image' => '20230209050256_collage - 2023-02-09T165454.173.jpg', 'article_date' => '2023-02-09 16:58:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '16979', 'article_category_id' => '1', 'title' => 'Government Determined to Promote Industrial Sector, Says Industry Minister Damodar Bhandari ', 'sub_title' => '', 'summary' => ' Minister for Industry, Commerce and Supplies, Damodar Bhandari, said the government was committed to the promotion of industrial sector in Nepal. ', 'content' => '<p><span style="font-size:18px">February 9: Minister for Industry, Commerce and Supplies, Damodar Bhandari, said the government was committed to the promotion of industrial sector in Nepal. </span></p> <p><span style="font-size:18px">Minister Bhandari reiterated that the government was seriously working for the promotion of the industrial sector by transforming challenges into opportunities. </span></p> <p><span style="font-size:18px"> During a programme organised by the Kailali Chamber of Commerce in Dhangadhi on Thursday, the Minister said the cooperation from the private sector would be sought to revive some of the sick industries. </span></p> <p><span style="font-size:18px">Bhandari argued that more areas of industrial potentialities would be explored with a focus on the Sudurapschim Province for industrial expansion and promotion. </span></p> <p><span style="font-size:18px">Stating that prompt service delivery was the priority of the government, the Minister assured that the incumbent government would wholeheartedly work for good governance and prosperity.</span></p> <p><span style="font-size:18px">Minister Bhandari informed that subordinate bodies under the Ministry had been already directed to explore potentials in the specific areas. “Darchula has the mining of copper and lead, Baitadi has iron mining and other districts may have many more potentialities and we have prioritized these probabilities,” he added.</span></p> <p><span style="font-size:18px">A dry port based in Dodhara Chandani of Kanchanpur would be brought into operation soon, according to the minister. </span><br /> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16718', 'image' => '20230209033910_collage - 2023-02-09T153503.084.jpg', 'article_date' => '2023-02-09 15:34:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '16978', 'article_category_id' => '1', 'title' => 'Will the Crisis Faced by Adani Group have any Impact in Nepal?', 'sub_title' => '', 'summary' => 'February 9: Allegations of stock market manipulation and fraud have halved the net worth of Indian tycoon Gautam Adani, one of the wealthiest people in the world, and wiped out more than US$ 110 billion from his listed firms in India in less than two weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">February 9: Allegations of stock market manipulation and fraud have halved the net worth of Indian tycoon Gautam Adani, one of the wealthiest people in the world, and wiped out more than US$ 110 billion from his listed firms in India in less than two weeks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Forbes magazine ranked Adani as the third-richest person in the world. But a recent stock rout has caused his fortune to take a nosedive, as he faces allegations of stock manipulation and debt concerns by US-based short-seller Hindenburg Research.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to data from Forbes, Adani had a net worth of US$ 2.8 billion in 2014, just before Narendra Modi – who is from the same state of Gujrat where Adani comes from – was elected as India’s prime minister. That wealth had catapulted to US$ 126.4 billion until the Hindenburg Research report on January 24 sent his business, which involves ports, airports, gas distribution, green energy, data centres, agri logistics, edible oil, and power generation and transmission, among others, into crisis, reported Al Jazeera.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the Doha-based media network, the Hindenburg report alleged that Adani family members cooperated to create offshore shell entities in tax-haven jurisdictions like Mauritius, the United Arab Emirates and several Caribbean islands, generating forged import/export documentation in an apparent effort to spur fake or illegitimate turnover and siphon money from the listed companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Adani Group has defended itself stating that the report was issued with a “mala fide intention” to damage its reputation, days before the group was set to hold a public secondary share sale to raise $2.5bn, the largest such sale in the country. The Adani Group has alleged that the report’s “principal objective” was to derail the share offer.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">With investor confidence shaken, legislators have demanded an investigation into his businesses as his listed companies’ shares slipped. However, the latest reports have indicated that the shares of his companies have improved in the last three days.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Hindu, one of the leading newspapers of India, wrote that the fall in shares of Adani Group will have implications on businesses and economies of India as well as its neighbouring countries Nepal, Bangladesh and Sri Lanka.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The newspaper argues that Nepal’s hydropower sector will be particularly affected as Adani Group was planning to build infrastructures related to trans-border transmission lines that would connect Nepal, Bhutan, India, Bangladesh and possibly Sri Lanka in the future.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The newspaper revealed that Adani Group had shown special interest in hydropower projects in Karnali after the then Prime Minister of Nepal Sher Bahadur and Indian PM Modi issued a joint statement of cooperation in hydropower sector during Duba’s state visit to India last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The group had made verbal proposal during unofficial discussions to invest in various hydropower projects and transmission lines within Nepal and also for the cross-border transmission lines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">However, Adani Group has not signed any kind of investment agreement with Nepal in regard to the hydropower sector and therefore the fall in shares of the group will not have any implications on Nepal, argues Aashish Garg, vice president of the Independent Power Producers Association of Nepal (IPPAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“It seems that the Adani Group has not invested a single penny in Nepal. It is normal for a big company to show interest in hydropower sector of Nepal,” said Garg, adding, “In the present context, the crisis faced by Adani Group will not have any impact in Nepal.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Investment Board Nepal also clarified that Adani Group had shown interest through various means to invest in Nepal but have not held any official discussion in this regard.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">IBN’s Spokesperson Amrit Lamsal confirmed that the group has not had any official agreement with Nepal for investment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Nepal Electricity Authority’s Spokesperson Suresh Bhattarai also said that the state-owned power utility has not signed any such agreement with Adani Group.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Bhattarrai further said that even if such a big business conglomerate wishes to invest in Nepal, there won’t be any problem for source of funding.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16717', 'image' => '20230209025321_1675909175.Clipboard12.jpg', 'article_date' => '2023-02-09 14:52:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16977', 'article_category_id' => '1', 'title' => 'Roses worth Rs 24.7 Million Imported in a Week', 'sub_title' => '', 'summary' => 'February 9: Roses worth almost Rs 25 million have been imported into the country within a week for the Valentine's Day. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 9: Roses worth almost Rs 25 million have been imported into the country within a week for the Valentine's Day. According to the data of Nepal Floriculture Association, 260,000 stem roses worth Rs 24.7 million were imported from India for the Valentine's Day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It is estimated that 280,000 stem roses (both imported and local) will be traded in Nepal throughout the period of Valentine’s Day. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The association estimates that 168,000 stem rose alone will be consumed in the Kathmandu Valley while 112,000 stem roses will be consumed in the cities outside the valley. Last year, on the occasion of Valentine’s Day, 277,000 stem roses were traded in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Min Bahadur Tamang, president of the association, domestic production will meet 7 percent of the total market demand for roses this time. The rest of 93 percent of the demand will be fulfill by importing roses from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A few years ago, Nepal used to import 65 percent of the roses needed for Valentine's Day from India while the rest of 35 percent demand was met by roses produced in the domestic market of Nepal. Tamang said that the import in recent years has skyrocketed due to the Covid-19 pandemic as some florists left the business while others reduced their investment. The domestic production is expected to increase from next year as the pandemic has already subsided.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Last year, the price of rose was between Rs 80 to Rs 100 per stem. This year, the roses are being sold for Rs 80 to Rs 120. In Nepal, there is a demand for about 10,000 steam roses even on normal days except for festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Floriculture Association, the commercial farming of roses in Nepal is done in Kathmandu, Bhaktapur, Lalitpur, Chitwan and Kavre, while its cultivation has started expanding in other districts as well.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16716', 'image' => '20230209011533_20190214040655__RAB0977.jpg', 'article_date' => '2023-02-09 13:14:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 11: President Bidya Devi Bhandari has underscored the need for wiping out legal ambiguities and addressing interests and pressure of multi-stakeholders for intensifying development projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In her address to the joint sitting of the federal parliaments on Friday, President Bhandari expressed concerns regarding the lacklusture pace of development projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to address the problems, an enabling legislation should be immediately adopted and implemented. The legislation should facilitate the procurement process, utilization of forest area and public land, human resources management, contract management, linking employees’ performance appraisal to their performance level, inter-agency coordination, and incentives for project managers,” she said in the address. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> According to the president, all sides’ attention is required to guarantee quality of infrastructures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Development activities cannot move properly in the absence of quality infrastructure. I am confident that the government will pay attention not only to the construction of infrastructure but also to the regular maintenance of the existing infrastructure by ensuring the implementation of an action plan with adequate resources,” President Bhandari said, adding that the development of an appropriate mechanism of mutual coordination for the integrated construction of different types of infrastructures at the beginning of the project would help build necessary coordination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the president said attention must be paid to the proper utilization of resources in the selection and construction of infrastructure projects. Small projects that are implemented without necessary study and analyses lead to the misuse of resources and fail to yield the desired returns, said the president. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Instead of allocating the budget for such small projects yielding no returns, it is better to manage the resources to ensure that the ongoing projects are completed within the stipulated timeframe,” she said, expressing confidence that the government would prepare its policies and programmes accordingly in the days ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strategic infrastructure projects should be selected and built keeping national security at the core, according to her. Roads should be constructed not only as conventional infrastructure but also as links emotionally connecting the citizens of the country. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further believed that our priorities should include developing standard road network at all wards of the local level, linking the services provided by the state with the road network, developing transport infrastructure to facilitate the means of transportation and to deliver the goods and services to the market, providing easy and accessible transportation facilities to the common people, completing the ongoing road construction within the stipulated time, and marking road transportation safe and reliable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari was for preparing the framework of infrastructure development only upon ensuring the necessity, relevance and sustainability of the infrastructure. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-02-11', 'modified' => '2023-02-11', 'keywords' => '', 'description' => '', 'sortorder' => '16731', 'image' => '20230211064849_RP_Kanchanpur-2(1).jpg', 'article_date' => '2023-02-11 18:48:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16991', 'article_category_id' => '1', 'title' => 'President for Coordinated Efforts to Boost Production ', 'sub_title' => '', 'summary' => 'February 10: President Bidya Devi Bhandari has stressed on the need for the government to implement a coordinated programme to increase production, as the domestic production needs to be strengthened in order to improve the economy. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: President Bidya Devi Bhandari has stressed on the need for the government to implement a coordinated programme to increase production, as the domestic production needs to be strengthened in order to improve the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In her address to the joint sitting of both Houses of the Federal Parliament on Friday, the president said, "The agriculture sector still remains our area of comparative and competitive advantage." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President Bhandari suggested that providing subsidies in agriculture on the basis of the quantity of production would provide an incentive to increase production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“For this, it is necessary to have coordinated implementation of programmes on fertilizers, seeds, agricultural extension services, irrigation, capital and land while keeping agricultural output at the forefront,” she said. Furthermore, the value chain can be maintained by strengthening the internal distribution system and assisting the farmers to receive the right price for their produce on time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The president also noted that trade deficit can be reduced if agricultural programmes could be implemented in such a way that leads to self-sufficiency in certain food items within a specified timeline and then enabling to export surplus items. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The government should focus on creating an investment-friendly environment by providing the basic infrastructure, protecting the investment and building the necessary infrastructure up to the production site to boost production.” -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16730', 'image' => '20230210100726_President Bhandari addressing a joint meeting at Parliament House, 1.jpg', 'article_date' => '2023-02-10 22:06:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16990', 'article_category_id' => '1', 'title' => 'Interest Rate on Internal Debts of Government Increasing', 'sub_title' => '', 'summary' => 'February 10: Nepal Rastra Bank (NRB) issued a tight monetary policy for the current fiscal year and increased the policy rates. ', 'content' => '<p>February 10: Nepal Rastra Bank (NRB) issued a tight monetary policy for the current fiscal year and increased the policy rates. While under pressure from the external sector including high exchange rate deficit and declining foreign exchange reserves, NRB took a policy of tightening loans by increasing interest rates. Due to this, the internal interest rate of the government also became expensive.</p> <p>As NRB increased the policy rates, the banks started increasing the interest rate, making the interest of internal debt collected by the government through various monetary instruments expensive.</p> <p>NRB announced the monetary policy for the current year on July 23. Immediately after the announcement of the monetary policy, the government issued treasury bills as a tool for raising short-term domestic debt. Banks increased the interest rate on 91-day treasury bills issued on July 26 by 2.67 percentage points which was in single digits before the monetary policy.</p> <p>After that, NRB intervened several times and bought Treasury Bills itself, but the interest rate could not be reduced. So, NRB has to pay high interest rates when raising internal debt through Treasury Bills.</p> <p>Lately, the interest rate of the treasury started to decrease after the liquidity situation in the banks and financial institutions eased, but still, the interest rate is becoming more expensive for the government compared to the last FY. Last year, the interest rate of 28-day treasury bills remained at 4.72 percent.</p> <p>In the current year, the lowest interest rate for 28-day treasury was maintained on January 30 at 5.9 percent. Similarly, 9.18 percent interest rate is maintained on 91-day treasury bills, while the interest rate on 182- and 364-day treasury bills is still in double digits.</p> <p>Similarly, the interest rate of internal debt raised by the government through development bonds also became expensive. In the current year, the government raised Rs 30 billion through development bonds for a period of 2 to 5 years. Its average interest rate remained at 9.95 percent. Last year, when the government raised domestic debt through development bonds, the average interest rate was only 7.74 percent.</p> <p>As of last year, the internal debt of the government is Rs 984 billion. In the current fiscal year, the government set a target of raising domestic debt of Rs 256 billion. Out of that, Rs 30 billion of debt was raised in the second quarter. Similarly, the target is to raise Rs 88 billion in the third quarter and Rs 138 billion in the fourth quarter.</p> <p>Through the monetary policy of the current year, NRB adopted a policy of tightening the loans by increasing the interest rate. Through the policy, the bank rate increased by 1.5 percentage points to 8.5 percent. The deadline for standing liquidity facility (SLF) taken by banks for liquidity management also reduced from 2 days to 5 days only. Similarly, the policy rate increased from 5.5 percent to 7 percent, and the deposit collection rate increased from 4 percent to 5.5 percent.</p> <p>Interest rates of banks are becoming more expensive due to increase in policy rates and lack of liquidity in the financial system. However, as the liquidity situation in the financial system eased recently and the external pressure on the economy decreased, experts say that the internal economy should be made viable by reducing the policy rate through a review of the monetary policy.</p> <p>Former banker Analraj Bhattarai said, “Even though the external pressure on the economy is less now, the internal economy has not been able to run due to high interest rates. NRB should review the monetary policy.”</p> <p>NRB is conducting its half-yearly review of monetary policy today (Friday). It is expected that NRB, which maintained the policy regime in the first quarter monetary policy review, will review the policy rates in the second review.</p> <p>Governor of NRB, Mahaprasad Adhikari has also been indicating in public programs that the provisions of monetary policy will change according to time. He said, “Due to the arrangements made through the monetary policy, we have reached a somewhat comfortable situation. The provisions of the monetary policy are reviewed from time to time.”</p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16729', 'image' => '20230210075421_20230210043603_interest ratee.jpg', 'article_date' => '2023-02-10 19:53:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16989', 'article_category_id' => '243', 'title' => 'Huge Amount of Lithium Reserves Found in Jammu and Kashmir ', 'sub_title' => '', 'summary' => 'Huge amounts of lithium reserves have been found for the first time in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. ', 'content' => '<p> </p> <p><span style="font-size:18px">India (February 10): Huge amounts of lithium reserves have been found for the first time in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. </span></p> <p><span style="font-size:18px">So far, India has depended on Australia and Argentina for lithium imports. The Geological Survey of India found the lithium reserves in the Salal-Haimana area of Reasi district in Jammu and Kashmir, India's Ministry of Mines said. </span></p> <p><span style="font-size:18px">As much as 5.9m tonnes of the mineral have been discovered in Jammu and Kashmir. In 2021, much smaller deposits of the mineral were found in the southern state of Karnataka.</span></p> <p><span style="font-size:18px">"For the first time, lithium reserves have been discovered and that too in Jammu and Kashmir," Mines Secretary Vivek Bharadwaj said. Earlier, the government had said that it was looking to improve its supply of rare metals needed to boost new technologies and was looking for sources in India and abroad.</span></p> <p><span style="font-size:18px">Around the world the demand for rare metals, including lithium, has increased as countries look to adopt greener solutions to slow down climate change.</span></p> <p><span style="font-size:18px">Lithium is extracted from hard rocks and underground brine reservoirs largely found in Australia, Chile and Argentina.<br /> After the mineral is mined, it is roasted using fossil fuels, searing the landscape and leaving behind scars. </span></p> <p><span style="font-size:18px">The extraction process also requires a lot of water and releases large amounts of carbon dioxide into the atmosphere. According to the World Bank, mining of crucial minerals will need to increase by 500% to meet global climate targets by 2050.</span></p> <p><span style="font-size:18px">However, experts say that the process of mining lithium is not environment-friendly. (Agencies)</span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16727', 'image' => '20230210052100_collage - 2023-02-10T171719.098.jpg', 'article_date' => '2023-02-10 17:15:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '16987', 'article_category_id' => '1', 'title' => 'Supreme Court Rules in Favour of Foreign Investment in Agriculture', 'sub_title' => '', 'summary' => 'February: The Supreme Court (SC) has ruled in favor of the legal provision to allow foreign investment in the agricultural sector. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February: The Supreme Court (SC) has ruled in favor of the legal provision to allow foreign investment in the agricultural sector. The path to bring in foreign investment in the agricultural sector has been opened after SC rejected the petition demanding the non-implementation of the amendment to the Foreign Investment and Technology Transfer Act, 2075 to bring in foreign investment in the agricultural sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Earlier, the need for foreign investment in the agricultural sector was raised several times, but the obstacles to foreign investment could not be removed. Especially industrialists and businessmen have been arguing that small farmers cannot compete with foreign investment in agriculture.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government amended the Foreign Investment and Technology Transfer Act, 2075 to allow foreign investment in the agricultural sector with the objective of exporting 75 percent of the produce.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the said act, the government amended the previous provision that foreign investment could not be brought in the fields of livestock, fishery, beekeeping, fruits, vegetables, oilseeds, pulses, dairy business, etc. A writ was filed in the SC against such a provision made by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A few days ago, the full text of the decision of the SC’s division bench of justices Prakash Kumar Dhungana and Kumar Chudal dismissing the writ petition filed to prohibit foreign investment in the agriculture sector came out. In the text of the SC verdict, it is mentioned that there will be no negative impact on the domestic agricultural industry due to the opening of foreign investment, and there will be no loss or damage to the nation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The SC opined that since foreign investment is opened on the condition that at least 75 percent of the production is exported, small farmers and domestic production will not be affected. Similarly, it is mentioned in the full text that the provision of foreign investment will remain in place for industries that export agricultural products produced in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">SC said that technology will be transferred through foreign investment, the modernization of agriculture will increase and as a result, the quantity and quality of agricultural products will also increase. It is also mentioned in the full text that this will help in the import substitution of agricultural produce and increase employment due to foreign technology.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the full text of SC, large investment is required for commercial farming and when foreign investment comes in, not only investment but also technology and skills will come in. The verdict states, “Since foreign investment in agriculture does not seem to affect small farmers and domestic producers, it is not appropriate to think that foreign investment will affect domestic investment.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16726', 'image' => '20230210042029_Agri.jpg', 'article_date' => '2023-02-10 16:19:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16986', 'article_category_id' => '218', 'title' => 'Easing Liquidity Will Have Positive Impact on Stock Market: NRB ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank has said that increasing liquidity in the banking system will help improve stock market in the days to come. ', 'content' => '<p><br /> <span style="font-size:18px">February 10: Nepal Rastra Bank has said that the rising liquidity in the banking system will help improve stock market in the days to come. </span></p> <p><span style="font-size:18px">At a press meet organised after the half-yearly review of monetary policy of the current fiscal year 2022/23 published by Nepal Rastra Bank on Friday, NRB’s Executive Director Prakash Kumar Shrestha said liquidity was easing in the banking system and it would have a positive impact on the share market. </span></p> <p><span style="font-size:18px">“With the rise of deposits in the banking system, liquidity is becoming comfortable. This will have the positive effect on the stock market,” Shrestha added. </span></p> <p><span style="font-size:18px">Stating that the Nepal Rastra Bank’s current priority was to maintain the country’s financial stability, Director Shrestha held that half-yearly review of the monetary policy had kept the policy-level provisions unchanged for the same.</span><br /> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16725', 'image' => '20230210041632_collage - 2023-02-10T160337.889.jpg', 'article_date' => '2023-02-10 16:07:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16985', 'article_category_id' => '1', 'title' => 'Government Directs CAAN to suspend TIA Director General Thakur over Bribery Allegation', 'sub_title' => '', 'summary' => 'February 10: The Ministry of Culture, Tourism and Civil Aviation has directed the Civil Aviation Authority of Nepal (CAAN) to suspend Director General of the Tribhuvan International Airport (TIA) Prem Nath Thakur.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: The Ministry of Culture, Tourism and Civil Aviation has directed the Civil Aviation Authority of Nepal (CAAN) to suspend Director General of the Tribhuvan International Airport (TIA) Prem Nath Thakur. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry took such a decision following a revelation of an audio conversation in which Thakur is heard seeking personal benefits from an airline company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Joint Secretary Rajendra Kumar KC, who is also the ministry's spokesperson, confirmed that CAAN has been directed to fire Thakur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Thakur has been charged with holding a conversation with Thai Smile Airlines for his personal gains illegally. As per the cabinet decision, CAAN has been asked to suspend Thakur to help investigate the matter,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the ministry has urged the Commission for the Investigation of Abuse of Authority (CIAA) to launch further investigations into the matter, added KC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some days ago, the CIAA had arrested Purna Chudal, the TIA chief (domestic terminal) along with a bribe. Thakur’s involvement in seeking personal gains came to the fore after the arrest of Chudal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16724', 'image' => '20230210031858_CAAN.jpg', 'article_date' => '2023-02-10 15:17:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16984', 'article_category_id' => '1', 'title' => 'Monetary Policy Review Gives Relief to Borrowers ', 'sub_title' => '', 'summary' => 'February 10: The Nepal Rastra Bank (NRB) has adopted liberal policy with an objective of providing some relief to the borrowers. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 10: The Nepal Rastra Bank (NRB) has adopted liberal policy with an objective of providing some relief to the borrowers. The central bank has given some relief to the borrowers by publishing a half-yearly review of the monetary policy of the current fiscal year, 2022/23 on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank has made an arrangement so that banks cannot take penalty interest till mid-June 2023 if a borrower makes payment of loans along with interest within a month after the expiry of the deadline, reads the review. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, there is a provision that loans up to Rs 20 million floated through banks and financial institutions to facilitate to small and medium industries and businesses can be restructured within July 16 after analysing their cash flow and incomes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The monetary policy had mandated commercial banks to invest at least 11 percent of their total loans in agriculture sector, sic percent in energy sector and 11 percent in micro, cottage and small scale industries (less than Rs 10 million loans including deprived sector lending).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mid-term review states that commercial banks have invested 13 percent in agriculture (Rs 543.47 billion), 6.3 percent in energy sector (Rs 262.55 billion) and 9.5 percent in micro, cottage and small scale industries (Rs 396.91 billion) as of mid-December 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While issuing the mid-term review of the monetary policy, NRB stated that the monetary policy of the current fiscal year had set a target of increasing foreign exchange reserves that can support imports for seven months. The mid-term review states that the central bank has exceeded this target as the foreign exchange reserves of the country can support imports for 9.1 months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mid-term review also states that there has been a general improvement in the economy in the first six months of the current fiscal year compared to the corresponding period of last fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the average inter-bank rate, which was 4.77 percent in mid-December to mid-January a year ago has increased to 7.73 percent in the corresponding period of this year. The average inter-bank rate was 7.01 percent in mid-July last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16723', 'image' => '20230210042209_20220727022441_monetary policy.jpg', 'article_date' => '2023-02-10 14:42:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16983', 'article_category_id' => '1', 'title' => 'Industrialists Urge for Load Shedding Instead of Unannounced Power Cuts', 'sub_title' => '', 'summary' => 'February 10: Fed up with the frequent power cuts without prior notice, the industry operators of Bara-Parsa Industrial Corridor have requested the Nepal Electricity Authority (NEA) to announce load shedding rather than unannounced power cuts.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 10: Fed up with the frequent power cuts without prior notice, the industry operators of Bara-Parsa Industrial Corridor have requested the Nepal Electricity Authority (NEA) to announce load shedding rather than unannounced power cuts. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Hari Gautam, coordinator of the industry committee under the Birgunj Chamber of Commerce and Industry, said that electricity is cut for 8/9 hours every day in the main industrial corridor.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the production of most of the industries has decreased. Industrialists claim that when the production has dropped to 25 percent, lack of electricity has added to the problem. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Gautam, who is also the vice president of the association, said, “There are problems in the production shift management as well due to power cuts without notice. Instead, it would have been easier if the schedule of load shedding was available.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industrialists complain that production has been badly affected due to the frequent power cuts without notice. Iron, cement and furnace-based industries which consume more electricity are affected more.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As compared to the previous years, the domestic production of electricity and import from India has decreased this year, due to which NEA started cutting its supply to the industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the authority's top officials, the power supply in the industry is reduced by 2/3 hours in order to manage the demand during peak hours. However, industrialists said that electricity is interrupted many times throughout the day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to NEA’s data, the demand for electricity in the peak hour is 1,700 megawatts. Authority officials say that domestic production is at most 1,300 MW and 400 MW is being imported from India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The authority claims that this year, production has decreased by 20 percent compared to last year's winter and imports from India are also affected, creating imbalance in supply and demand. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The authority buys electricity from India and has to pay more during peak hours, so it brings it during off hours. NEA has been importing mostly from Bihar of India and Bara-Parsa Industrial Corridor is supplied from the same line. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NEA spokesperson Suresh Bhattarai says that two thermal plants with a capacity of 1,400 megawatts in Bihar are damaged, so they have not been able to bring in the required amount of electricity.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Madhav Rajpal, vice president of the association, there are problems such as wastage of raw materials, reduction in production, burning and deterioration of equipment, and deterioration in the quality of products due to frequent power cuts in the industry. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He commented that a dark age has started in the industry less than four years after the end of load shedding.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Industrialists say that they have been trapped in an all-round crisis since the Covid-19 pandemic and the energy insecurity is hitting them even harder. Gautam complains that due to the recession in the market, the industry is running only for 12 hours, and due to the lack of regular electricity supply, it has not been able to run for even eight hours. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16722', 'image' => '20230210013223_NEA.jpg', 'article_date' => '2023-02-10 13:31:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16982', 'article_category_id' => '1', 'title' => 'Paddy Farmers Happy with Price Hike, Consumers Complain ', 'sub_title' => '', 'summary' => 'February 10: Farmers have felt a sense of relief this year with the rise in the price of paddy while the consumers are at the receiving end.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 10: Farmers have felt a sense of relief this year with the rise in the price of paddy while the consumers are at the receiving end. The price of paddy has increased by Rs 300 per quintal compared to the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As neighbouring India has imposed a quota on paddy export, the price of paddy in Nepal has increased along with the increase in price of paddy in India. India has fixed an export quota of 600,000 tons of paddy for Nepal in the current fiscal year </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the increase in the price of paddy, Sona Mansuli variety of rice available at Rs 48 per kg now costs Rs 58 per kg while the price of Mansuli has reached Rs 64 from Rs 50 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of Madhes province, including Parsa, a pocket area for paddy production, have been suffering due to low price but they have finally got some relief. Sitaram Prasad, a farmer of Lalparsa in Birgunj Ward No 30, says, "The price of paddy does not even meet the cost of production, but this time it has increased." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Kismatia Devi, a paddy farmer of Sabathwa-4, Parsa, however said although the new price is some relief, it is not enough. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, even though the farmers are happy with the increase in the price of paddy the consumers are at the receiving end. The price of rice has increased by Rs 15 to 25 per kg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sarita Devi Kurmi of Birgunj Metropolis, Ward No 12 said the sudden increase in the price of rice has made daily expenses hard to meet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central President of Nepal Rice, Oil and Pulses Industry Association, Subodh Gupta, says Nepal still depends on India to meet 50 to 60 percent demand for paddy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> “Since India has increased the support price for paddy, it has led to an increase in the price of rice, which is mostly imported from India,” says Gupta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16721', 'image' => '20230210115354_640px-Rice_Plants_(IRRI).jpg', 'article_date' => '2023-02-10 11:53:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16981', 'article_category_id' => '1', 'title' => 'Asian Hydropower Limited Opens Sale Of IPO to General Public ', 'sub_title' => '', 'summary' => 'Asian Hydropower Limited is opening sale of its Initial Public Offering (IPO) to the general public in the second phase from Friday.', 'content' => '<p><span style="font-size:18px">February 10: Asian Hydropower Limited is opening sale of its Initial Public Offering (IPO) to the general public in the second phase from Friday.</span></p> <p><span style="font-size:18px">The company is offering 7,56,000 units of shares to the general public, including the mutual fund schemes and employees of the company.</span></p> <p><span style="font-size:18px">Out of the total shares, 42,000 units of shares have been allotted to the mutual fund schemes. Likewise, 16,000 shares have been set aside for the employees of the company.</span></p> <p><span style="font-size:18px"> General public an participate in the remaining 6,97,200 units of shares.<br /> Interested investors can apply for a minim of 10 kitta and a maximum of 20,000 kitta of shares at a face value of Rs 100.</span></p> <p><span style="font-size:18px">The offer will end on February 14. If the IPO remains under-subscribed, the deadline will extend until February 24.<br /> In the first phase, the hydropower company had issued and allotted public offerings to the project affected locals of Ilam district and Nepali citizens working in foreign countries.</span></p> <p><span style="font-size:18px">Asian Hydropower Limited has developed Lower Jogmai Khola Hydropower in Ilam district. The run-of-the river project has installed capacity of 6.2 megawatts.</span></p> <p><span style="font-size:18px">The project has been producing power for the last one year. Per megawatt cost for the hydropower construction stands at Rs 21.15 crores</span></p> <p><span style="font-size:18px">NMB Capital is the issue and sales manager of the hydropower company. Interested individuals can apply for the IPO from all C-ASBA-approved banks and financial institutions by the Securities Board of Nepal (SEBON). The IPO can also be purchased from Meroshare.</span></p> <p> </p> ', 'published' => true, 'created' => '2023-02-10', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16720', 'image' => '20230210061838_collage (64) (1).jpg', 'article_date' => '2023-02-10 06:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '16980', 'article_category_id' => '1', 'title' => 'Flights to and from Baitadi's Patan Airport Closed for the Last Ten Months ', 'sub_title' => '', 'summary' => 'Flights to and from Patan airport in Baitadi have remained shut for the past ten months. Costly air fare and lack of passengers have halted the flight along the Dhangadhi-Baitadi-Dhangadhi air route for months.', 'content' => '<p><br /> <span style="font-size:18px">February 9: Flights to and from Patan airport in Baitadi have remained shut for the past ten months. Costly air fare and lack of passengers have halted the flight along the Dhangadhi-Baitadi-Dhangadhi air route for months.</span></p> <p><span style="font-size:18px">The airport was brought into operation by spending Rs 110 million for its blacktopping. Unfortunately, flight remained closed for months.</span></p> <p><span style="font-size:18px"> Summit Air was conducting a single flight to and from Patan airport every Thursday. The last time the flight was conducted from the airport was on 24 March, 2022. </span></p> <p><span style="font-size:18px">Summit Air’s representative Krishna Datta Bhatta says that chances of resuming flight are still uncertain. Eighteen minutes’ flight from Patan to Dhangadhi costs Rs 5,000 per person. </span></p> <p><span style="font-size:18px">Local Chaman Bhandari shared that closure of the air service has made it difficult for the emergency patients to reach to the well-facilitated hospital and employees to get to their workplace. </span></p> <p><span style="font-size:18px">Patan airport is the second largest in Sudurpaschim Province. The airport was brought into operation in 2077 after a long hiatus of 26 years. Patan airport that came into operation in 2036 for the first time was closed till 2051.</span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-10', 'keywords' => '', 'description' => '', 'sortorder' => '16719', 'image' => '20230209050256_collage - 2023-02-09T165454.173.jpg', 'article_date' => '2023-02-09 16:58:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '16979', 'article_category_id' => '1', 'title' => 'Government Determined to Promote Industrial Sector, Says Industry Minister Damodar Bhandari ', 'sub_title' => '', 'summary' => ' Minister for Industry, Commerce and Supplies, Damodar Bhandari, said the government was committed to the promotion of industrial sector in Nepal. ', 'content' => '<p><span style="font-size:18px">February 9: Minister for Industry, Commerce and Supplies, Damodar Bhandari, said the government was committed to the promotion of industrial sector in Nepal. </span></p> <p><span style="font-size:18px">Minister Bhandari reiterated that the government was seriously working for the promotion of the industrial sector by transforming challenges into opportunities. </span></p> <p><span style="font-size:18px"> During a programme organised by the Kailali Chamber of Commerce in Dhangadhi on Thursday, the Minister said the cooperation from the private sector would be sought to revive some of the sick industries. </span></p> <p><span style="font-size:18px">Bhandari argued that more areas of industrial potentialities would be explored with a focus on the Sudurapschim Province for industrial expansion and promotion. </span></p> <p><span style="font-size:18px">Stating that prompt service delivery was the priority of the government, the Minister assured that the incumbent government would wholeheartedly work for good governance and prosperity.</span></p> <p><span style="font-size:18px">Minister Bhandari informed that subordinate bodies under the Ministry had been already directed to explore potentials in the specific areas. “Darchula has the mining of copper and lead, Baitadi has iron mining and other districts may have many more potentialities and we have prioritized these probabilities,” he added.</span></p> <p><span style="font-size:18px">A dry port based in Dodhara Chandani of Kanchanpur would be brought into operation soon, according to the minister. </span><br /> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16718', 'image' => '20230209033910_collage - 2023-02-09T153503.084.jpg', 'article_date' => '2023-02-09 15:34:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '16978', 'article_category_id' => '1', 'title' => 'Will the Crisis Faced by Adani Group have any Impact in Nepal?', 'sub_title' => '', 'summary' => 'February 9: Allegations of stock market manipulation and fraud have halved the net worth of Indian tycoon Gautam Adani, one of the wealthiest people in the world, and wiped out more than US$ 110 billion from his listed firms in India in less than two weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">February 9: Allegations of stock market manipulation and fraud have halved the net worth of Indian tycoon Gautam Adani, one of the wealthiest people in the world, and wiped out more than US$ 110 billion from his listed firms in India in less than two weeks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Forbes magazine ranked Adani as the third-richest person in the world. But a recent stock rout has caused his fortune to take a nosedive, as he faces allegations of stock manipulation and debt concerns by US-based short-seller Hindenburg Research.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to data from Forbes, Adani had a net worth of US$ 2.8 billion in 2014, just before Narendra Modi – who is from the same state of Gujrat where Adani comes from – was elected as India’s prime minister. That wealth had catapulted to US$ 126.4 billion until the Hindenburg Research report on January 24 sent his business, which involves ports, airports, gas distribution, green energy, data centres, agri logistics, edible oil, and power generation and transmission, among others, into crisis, reported Al Jazeera.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the Doha-based media network, the Hindenburg report alleged that Adani family members cooperated to create offshore shell entities in tax-haven jurisdictions like Mauritius, the United Arab Emirates and several Caribbean islands, generating forged import/export documentation in an apparent effort to spur fake or illegitimate turnover and siphon money from the listed companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Adani Group has defended itself stating that the report was issued with a “mala fide intention” to damage its reputation, days before the group was set to hold a public secondary share sale to raise $2.5bn, the largest such sale in the country. The Adani Group has alleged that the report’s “principal objective” was to derail the share offer.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">With investor confidence shaken, legislators have demanded an investigation into his businesses as his listed companies’ shares slipped. However, the latest reports have indicated that the shares of his companies have improved in the last three days.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Hindu, one of the leading newspapers of India, wrote that the fall in shares of Adani Group will have implications on businesses and economies of India as well as its neighbouring countries Nepal, Bangladesh and Sri Lanka.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The newspaper argues that Nepal’s hydropower sector will be particularly affected as Adani Group was planning to build infrastructures related to trans-border transmission lines that would connect Nepal, Bhutan, India, Bangladesh and possibly Sri Lanka in the future.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The newspaper revealed that Adani Group had shown special interest in hydropower projects in Karnali after the then Prime Minister of Nepal Sher Bahadur and Indian PM Modi issued a joint statement of cooperation in hydropower sector during Duba’s state visit to India last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The group had made verbal proposal during unofficial discussions to invest in various hydropower projects and transmission lines within Nepal and also for the cross-border transmission lines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">However, Adani Group has not signed any kind of investment agreement with Nepal in regard to the hydropower sector and therefore the fall in shares of the group will not have any implications on Nepal, argues Aashish Garg, vice president of the Independent Power Producers Association of Nepal (IPPAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“It seems that the Adani Group has not invested a single penny in Nepal. It is normal for a big company to show interest in hydropower sector of Nepal,” said Garg, adding, “In the present context, the crisis faced by Adani Group will not have any impact in Nepal.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Investment Board Nepal also clarified that Adani Group had shown interest through various means to invest in Nepal but have not held any official discussion in this regard.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">IBN’s Spokesperson Amrit Lamsal confirmed that the group has not had any official agreement with Nepal for investment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Nepal Electricity Authority’s Spokesperson Suresh Bhattarai also said that the state-owned power utility has not signed any such agreement with Adani Group.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Bhattarrai further said that even if such a big business conglomerate wishes to invest in Nepal, there won’t be any problem for source of funding.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16717', 'image' => '20230209025321_1675909175.Clipboard12.jpg', 'article_date' => '2023-02-09 14:52:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16977', 'article_category_id' => '1', 'title' => 'Roses worth Rs 24.7 Million Imported in a Week', 'sub_title' => '', 'summary' => 'February 9: Roses worth almost Rs 25 million have been imported into the country within a week for the Valentine's Day. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 9: Roses worth almost Rs 25 million have been imported into the country within a week for the Valentine's Day. According to the data of Nepal Floriculture Association, 260,000 stem roses worth Rs 24.7 million were imported from India for the Valentine's Day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It is estimated that 280,000 stem roses (both imported and local) will be traded in Nepal throughout the period of Valentine’s Day. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The association estimates that 168,000 stem rose alone will be consumed in the Kathmandu Valley while 112,000 stem roses will be consumed in the cities outside the valley. Last year, on the occasion of Valentine’s Day, 277,000 stem roses were traded in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Min Bahadur Tamang, president of the association, domestic production will meet 7 percent of the total market demand for roses this time. The rest of 93 percent of the demand will be fulfill by importing roses from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A few years ago, Nepal used to import 65 percent of the roses needed for Valentine's Day from India while the rest of 35 percent demand was met by roses produced in the domestic market of Nepal. Tamang said that the import in recent years has skyrocketed due to the Covid-19 pandemic as some florists left the business while others reduced their investment. The domestic production is expected to increase from next year as the pandemic has already subsided.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Last year, the price of rose was between Rs 80 to Rs 100 per stem. This year, the roses are being sold for Rs 80 to Rs 120. In Nepal, there is a demand for about 10,000 steam roses even on normal days except for festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Floriculture Association, the commercial farming of roses in Nepal is done in Kathmandu, Bhaktapur, Lalitpur, Chitwan and Kavre, while its cultivation has started expanding in other districts as well.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-02-09', 'modified' => '2023-02-09', 'keywords' => '', 'description' => '', 'sortorder' => '16716', 'image' => '20230209011533_20190214040655__RAB0977.jpg', 'article_date' => '2023-02-09 13:14:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
