January 22: The increase in bad loans has affected the profitability of banks in the second quarter of the current fiscal year.…
January 22: The increase in bad loans has affected the profitability of banks in the second quarter of the current fiscal year.…
January 22: The production of Sugarcane, which is the main cash crop of Nepal, is decreasing in recent times.…
January 22: Import and export through the Birganj customs has declined in the first six months of the current fiscal…
January 22: The Tamang community is observing Sonam Lhosar across the country today by organising various…
January 22: The black box of ATR-72 aircraft of Yeti Airlines that crashed in Pokhara on January 15 is being sent to France for technical analysis by the aircraft manufacturer.…
Birgunj Customs office, Nepal’s one of the major entry points for trade with India and other countries, has failed to collect revenue in accordance with target in the first six months of the current fiscal…
January 21: The European Union (EU) has put off its plan of undertaking an on-site evaluation of Nepal’s aviation…
Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said the government is ready to revise the Foreign Employment Act to make the foreign employment business fair and…
Nepal Electricity Authority (NEA) has achieved a remarkable success in controlling electricity leakage. The NEA has reduced the power leakage to 7.49 per cent in the distribution side in the first five months of the current fiscal year, according to the Nepal Electricity…
January 20: Nepal Rastra Bank (NRB) has removed the requirement to have 50 to 100 per cent cash margin for opening letter of credit (LC) to import luxury goods.…
January 20: The sugarcane farmers have expressed their dissatisfaction after the government set the support price of sugarcane less than the cost incurred this year.…
January 20: The Khumbu region in Solukhumbu district has received a good number of tourists even during the off-season this year.…
January 20: The Ministry of Industry, Commerce and Supplies has requested the Indian Embassy in Kathmandu to provide 30,489 metric tons of wheat to 24 flour mills operating in…
January 20: Humla district witnessed a snowfall from last night, the first during this…
January 20: The Ministry of Industry, Commerce and Supplies is preparing to unveil the 'National Startup Enterprise Policy' within the current fiscacl year.…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16810', 'article_category_id' => '1', 'title' => 'Banks' Profit Affected by Bad Loans', 'sub_title' => '', 'summary' => 'January 22: The increase in bad loans has affected the profitability of banks in the second quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: The increase in bad loans has affected the profitability of banks in the second quarter<strong> </strong>of the current fiscal year. Likewise, the banks facing liquidity crunch have also been affected due to the Covid-19 pandemic and the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As of January 21, a total of 20 banks that published their unaudited financial statements have earned a net profit of Rs 29.87 billion. It is only 1.85 per cent more than the profit earned during the corresponding period of the last fiscal year when the banks made a profit of Rs 29.33 billion. During the last fiscal year, the profit of the banks increased by 10 per cent compared to the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Investment and Mega Bank merged with each other to start integrated business as Nepal Investment Mega Bank while Kumari Bank and NCC Bank which merged with each other are yet to publish their financial statements. Among the banks that have published their financial statements, the profit of a dozen banks has increased compared to last year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The profit of Everest Bank has increased the highest by 89.29 per cent. The profit of eight banks has decreased compared to last fiscal year. The net profit of the Agriculture Development Bank has decreased by 109 per cent resulting in a loss of Rs 128.9 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Global IME Bank’s profit increased by 4.47 per cent, while the profit of Bank of Kathmandu before the merger decreased by 4.37 per cent. BoK’s profit of Rs 452.5 million has been adjusted with the profit of the current fiscal year of Global IME Bank. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '16551', 'image' => '20230122042344_Banks.jpg', 'article_date' => '2023-01-22 16:23:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16809', 'article_category_id' => '1', 'title' => 'Sugarcane Production Declining in Nepal', 'sub_title' => '', 'summary' => 'January 22: The production of Sugarcane, which is the main cash crop of Nepal, is decreasing in recent times. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: The production of Sugarcane, which is the main cash crop of Nepal, is decreasing in recent times. Government data shows that sugarcane production decreased by more than 305,000 metric tons in the last three years. Stakeholders say that production is decreasing due to increasing cost of production, risky market, low competitiveness and problems in getting the amount of sugarcane sold on credit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data provided by the Ministry of Agriculture and Livestock Development, sugarcane cultivation was done on 71,625 hectares of land in the fiscal year (FY) 2075/76 yielding production of 3,557,934 tons of sugarcane. But by FY 2077/78, the cultivation area reduced by 7,271 hectares to 64,354 hectares, and the production reduced by 373,991 tons to 318,3943 tons. Meanwhile, the productivity of sugarcane decreased to 49.47 tons which was 49.6 tons in FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, although there is a lot of potential to get quality products with high productivity by expanding sugarcane cultivation commercially in the country, the production is decreasing due to internal problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prakash Kumar Sanjel, spokesperson of the ministry, said that the cost-price ratio decreased due to the low productivity of sugarcane in Nepal compared to other countries. Farmers also lack quality sugarcane varieties. Due to this, both productivity and production are decreasing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In recent times sugarcane market is also at risk, adding problems to the production. According to a statement released by the ministry, 13 large industries are currently purchasing sugarcane from the farmers in Nepal in big scale. There are many farmers who produce sugarcane on a small scale. Therefore, there are many sugarcane producers and limited number of buyers in Nepal. The government's role in market regulation is secondary. In such a situation, there is a high possibility that the limited number of buyers can exploit the small farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to this kind of effect, sugarcane farmers had to come to Kathmandu many times and stage street protests to get payment for the sugarcane they sold on credit to the industrialists. Even though the government has introduced programs such as fixing the minimum support price for sugarcane, promoting irrigation for sugarcane and promoting the development of seeds of superior quality in the country, the sugarcane farmers have started turning to other crops because of the failure in effective implementation of those initiatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The sugar produced in Nepal is not able to compete with the price of imported sugar in terms of production cost. According to a report published by the United States Department of Agriculture (USDA) in 2018, Nepal's neighboring countries including India and Pakistan provide high subsidies for sugar and sugarcane production, which has affected Nepal's sugar production.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16550', 'image' => '20230122031034_HB_KTM-IMG_0142.jpg', 'article_date' => '2023-01-22 15:09:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16808', 'article_category_id' => '1', 'title' => 'Imports from Birgunj Decline by 15 Percent', 'sub_title' => '', 'summary' => 'January 22: Import and export through the Birganj customs has declined in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: Import and export through the Birganj customs has declined in the first six months of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the statistics of Birgunj Customs, the import decreased by 15.3 percent and the export by 62.7 percent between mid-July to mid-January this fiscal year compared to the corresponding period of last year</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first 6 months of last fiscal year, goods worth Rs 348 billion were imported into Nepal through this customs point. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhan Bahadur Baruwal, Chief Customs Officer of Birgunj Customs, informed that goods worth Rs 295 billion have been imported during the same period this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Exports on the other hand decreased to Rs 20 billion from Rs 55 billion during the review period. In the previous years, the export of refined cooking oil from Nepal used to take place in a considerable amount when India imposed high customs duty on oil imports from other countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal had been exporting refined oil to India by importing crude oil from third countries. However, after India adopted a zero duty policy on oil imports, the export from Nepal reduced significantly as the exporters could no longer benefit from the customs duty gap. Products such as shoes, yarn, and juice are mainly exported through Birgunj Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16549', 'image' => '20230122025513_Birgunjjjjjjjjjj.jpg', 'article_date' => '2023-01-22 14:54:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16807', 'article_category_id' => '1', 'title' => 'Tamang Community Observing Sonam Lhosar Today', 'sub_title' => '', 'summary' => 'January 22: The Tamang community is observing Sonam Lhosar across the country today by organising various programmes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: The Tamang community is observing Sonam Lhosar across the country today by organising various programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival is taken as the commencement of the near year as per the Manju Shree calendar or Tibetan lunar calendar and today marks the beginning of the year 2859. </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"">As per the Tamang tradition, today they complete the ‘year of tiger’ and enter the ‘year of rabbit’. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival falls on the first day of the bright half in the month of Magh (mid-January to mid-February) according to the lunar calendar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a custom in the Taming community to count the year with association of symbols of 12 different animals: rat, cow, tiger, rabbit, dragon, snake, horse, sheep, monkey, bird, dog and boar. It starts with rat and ends on boar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to researcher Tika Sherpa, the counting of year with the name of animals suggest that the Tamang people are worshippers of nature. Various districts in the Bagmati Province are predominantly Tamang districts and this festival is observed in such districts with much fanfare. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Bouddhanath Area Development Trust has planned various programmes today to observe the festival. Likewise, Nepal Tamang Ghedung has decided to mark the festival by organising programmes in the Tundikhel for the next three days. Likewise, the Swoyambhu area in Kathmandu is also hosting programmes on the occasion. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16548', 'image' => '20230122125214_sonam.jpg', 'article_date' => '2023-01-22 12:51:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16806', 'article_category_id' => '1', 'title' => 'Black Box of Crashed Yeti Airlines Plane will be sent to France ', 'sub_title' => '', 'summary' => 'January 22: The black box of ATR-72 aircraft of Yeti Airlines that crashed in Pokhara on January 15 is being sent to France for technical analysis by the aircraft manufacturer. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: The black box of ATR-72 aircraft of Yeti Airlines that crashed in Pokhara on January 15 is being sent to France for technical analysis by the aircraft manufacturer. Joint Secretary at the Ministry of Culture, Tourism and Civil Aviation and member-secretary of Air Crash Investigation Committee Budhisagar Lamichhane told the state-owned national news agency RSS that the black box of the aircraft is being sent to France for an independent analysis of the accident. The expert team of the Air Crash Investigation Committee will also go to France along with the black box, added RSS. </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"">According to Lamichhane, the black box will be sent to the aircraft manufacturing company in France next week.</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 black box contains Cockpit Voice Recorder and Flight Data Recorder which will help in the effective investigation of the accident. </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 committee has so far conducted on-site monitoring of the accident site, collected necessary documents and discussed with experts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Yeti Airlines flight with call sign 9N-ANC (ATR-72-212) flying from Kathmandu to Pokhara crashed in the Seti River gorge, killing 71 out of 72 people including the crew members of the plane. The body of one more passenger traveling on the plane is yet to be found. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16547', 'image' => '20230122111105_Untitled.jpg', 'article_date' => '2023-01-22 11:10:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16805', 'article_category_id' => '274', 'title' => 'Contracted Trade Causes Revenue to Fall ', 'sub_title' => '', 'summary' => 'Birgunj Customs office, Nepal’s one of the major entry points for trade with India and other countries, has failed to collect revenue in accordance with target in the first six months of the current fiscal year.', 'content' => '<p> </p> <p><span style="font-size:18px">January 22: Birgunj Customs office, Nepal’s one of the major entry points for trade with India and other countries, has failed to collect revenue in accordance with target in the first six months of the current fiscal year.</span></p> <p><span style="font-size:18px">The Customs office has collected only 62.4 per cent of its total revenue target. <br /> According to the customs office, the Department of Customs had set the target to amass a revenue of Rs 122.77 billion during the first six months of the current fiscal year. </span></p> <p><span style="font-size:18px">The customs office, however, has collected only Rs 76.54 billion during review period. <br /> Customs officials say that the government’s policy to control the trade following the depletion of foreign exchange reserve had caused the revenue to shrink. </span></p> <p><span style="font-size:18px">Import of petroleum products and vehicles contributes largely to the revenue from Birgunj Customs office. Ban on the import of vehicles for a long time led to the revenue to drop”, said Birgunj Customs Office Chief Dhan Bahadur Baruwal.</span></p> <p><span style="font-size:18px">The government that started tightening import of goods from the second quarter of the last fiscal year had imposed ban on the import of vehicles, expensive mobile phones, and liquor from the fourth quarter of the last fiscal.</span></p> <p><span style="font-size:18px">The government has recently removed the provision of cash margin for opening letter of credit after it removed the ban placed on the import of vehicles and other expensive goods.</span></p> <p><span style="font-size:18px">Despite the opening of the import, auto importers have not brought vehicles citing lack of demand and banks not providing loan for the same.</span></p> <p><span style="font-size:18px">Auto importers are hardly importing four to five vehicles these days against 30 to 35 on a daily basis in the past. <br /> “More than 2000 vehicles have gathered at the yard of Integrated Check Post,” according to Nepal Intermodel Transport Development Board Birgunj Office Chief Kamal Gyawali.</span></p> <p><span style="font-size:18px">Birgunj Customs collected only Rs 26 billion of customs duty against its target of 48 billion. Likewise, the customs point collected Rs 34 billion in value added tax despite its target to collect Rs 44 billion. </span></p> <p><span style="font-size:18px">The office collected Rs 5 billion of excise duty against its target to collect Rs 12 billion. Customs officials say that ban on the import of vehicles led the office to miss its target.</span></p> <p><span style="font-size:18px">Birgunj Customs collected infrastructure tax of Rs 6 billion from the petroleum products against its target to collect 9 billion during the same period. </span></p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16546', 'image' => '20230122061641_collage (33).jpg', 'article_date' => '2023-01-22 06:12:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16804', 'article_category_id' => '1', 'title' => 'EU's On-Site Evaluation Team Postpones its Plan to Visit Nepal', 'sub_title' => '', 'summary' => 'January 21: The European Union (EU) has put off its plan of undertaking an on-site evaluation of Nepal’s aviation sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The European Union (EU) has put off its plan of undertaking an on-site evaluation of Nepal’s aviation sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Civil Aviation Authority of Nepal (CAAN) said that the planned visit of EU's technical team has been postponed for the time being. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a joint statement on Friday, Director-General of CAAN Pradeep Adhikari and EU's Ambassador to Nepal Nona Deprez said that the scheduled Nepal visit of the on-site evaluation team has been put off for now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to CAAN Spokesperson Jagannath Niraula, EU's Nepal visit has been put off on mutual agreement as the human resource of the CAAN has to be deployed to investigate the crash of the Yeti Airlines plane in Pokhara on January 15. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on October, a team of the EU had undertaken a study of the aviation safety of Nepal and drew a conclusion that notable progress was made in aviation safety. The team had returned with a decision to send another team to carry out an on-site evaluation of the aviation safety of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the statement, the EU has clarified that it would continue its support to Nepal for aviation safety. EU had blacklisted Nepal in its air safety list since 2013 citing safety concners. Nepal has made several efforts to get itself removed from the blacklist. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The International Civil Aviation Organization (ICAO)'s recent audit has assessed Nepal's aviation safety compliance rate to be 70.1 percent, which is above the global average. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-21', 'modified' => '2023-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '16545', 'image' => '20230121051057_european-union.jpg', 'article_date' => '2023-01-21 17:10:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16803', 'article_category_id' => '1', 'title' => 'Government Ready to Revise Foreign Employment Act, says Prime Minister Dahal ', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said the government is ready to revise the Foreign Employment Act to make the foreign employment business fair and transparent. ', 'content' => '<p><br /> <span style="font-size:20px">January 20: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said the government is ready to revise the Foreign Employment Act to make the foreign employment business fair and transparent. </span></p> <p><span style="font-size:20px">Addressing the 29th Annual General Assembly(AGM) of Nepal Association of Foreign Employment Agencies (NAFEA) organised in Kathmandu on Friday, Prime Minister Dahal reiterated that he was ready to make business of foreign employment transparent and respectful after consultation with the Labour Minister and ministry’s Secretary.</span></p> <p><span style="font-size:20px">Dahal sought assistance of entrepreneurs involved in the business of foreign employment to end malpractices prevalent in the domain of foreign employment. </span></p> <p><span style="font-size:20px">“The government is making headway in making the foreign employment transparent and effective and in stopping the wrong practices widespread in the field”, Dahal added.</span></p> <p><span style="font-size:20px">Dahal stated that the government was prepared to forge friendly and cordial relationship with entrepreneurs and industrialists to usher in economic development and prosperity in the country. </span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16544', 'image' => '20230120054801_collage (73).jpg', 'article_date' => '2023-01-20 17:44:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '16802', 'article_category_id' => '1', 'title' => 'Electricity Leakage Declines ', 'sub_title' => '', 'summary' => 'Nepal Electricity Authority (NEA) has achieved a remarkable success in controlling electricity leakage. The NEA has reduced the power leakage to 7.49 per cent in the distribution side in the first five months of the current fiscal year, according to the Nepal Electricity Authority.', 'content' => '<p><span style="font-size:16px">January 20: Nepal Electricity Authority (NEA) has achieved a remarkable success in controlling electricity leakage.<br /> The NEA has reduced the power leakage to 7.49 per cent in the distribution side in the first five months of the current fiscal year, according to the Nepal Electricity Authority.</span></p> <p><span style="font-size:16px">Power leakage was 9.23 per cent in the distribution side in the first five months of the last fiscal year, which fell by 1.74 per cent during the same period this fiscal. </span></p> <p><span style="font-size:16px">By the end of the fifth month of the current fiscal year, the distribution system has received 4.147 billion units of electricity. Out of it, 3.836 billion units of electricity were sold, while 31.779 million units of electricity leaked. </span></p> <p><span style="font-size:16px">Power leakage on transmission side stands at 4.56 percent till the end of the fifth month of the same period. Power leakage of the total system including distribution and transmission side stands at 12.5 per cent. </span></p> <p><span style="font-size:16px">Electricity leakage of the entire system was 15.38 per cent till 15 July, 2022. <br /> The largest part of the power leakage in the system is on the distribution side. The Authority has set a target of reducing the electricity leakage of the overall system to 14 percent and the distribution leakage to 8.5 percent in the current fiscal year.</span></p> <p><span style="font-size:16px">The power leakage on distribution side that was 22 per cent around seven years ago has come down to 7.49 per cent , which is a great achievement, said Executive Director Kulman Ghising of the Nepal Electricity Authority.</span></p> <p><span style="font-size:16px">Ghising said that NEA had deployed its staffers to reduce the leakage below its target by making steps launched to control technical and non-technical leakage effective. </span></p> <p><span style="font-size:16px">“During this period, new substations have been constructed, the existing substations have been upgraded, electricity consumption has increased in the industrial sector, meter reading has been made effective, and the leakages have decreased due to the accumulated unit billing of customers," Ghising said. </span></p> <p><span style="font-size:16px">Regular monitoring and action against the power theft, strengthening overloaded substations and feeder lines, construction of new substations, and replacement of conductors have led to the fall of power leakage , said NEA Executive Director Ghising. </span></p> <p><span style="font-size:16px">Increasing the capacity of substations, adding conductors, changing overloaded transformers, and encouraging the use of three-phase meters have caused the leakage to subside. </span></p> <p><span style="font-size:16px">The NEA has launched various measures as campaign to control the power leakage. The NEA has stepped up efforts to control power theft and collect arrears and adopted strict actions against those who steal power, replace and bypass meters. </span></p> <p><span style="font-size:16px">Out of the distribution centers under the NEA’s seven regional offices and two provincial division offices, Madhesh Province Regional Office, Janakpur has the highest electricity leakage. The total electricity leakage of 23 distribution centers under Janakpur Regional Office is 12.80 percent till mid-December.</span><br /> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16543', 'image' => '20230120050800_collage (71).jpg', 'article_date' => '2023-01-20 17:00:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '16801', 'article_category_id' => '1', 'title' => 'NRB Removes Cash Margin for LC', 'sub_title' => '', 'summary' => 'January 20: Nepal Rastra Bank (NRB) has removed the requirement to have 50 to 100 per cent cash margin for opening letter of credit (LC) to import luxury goods. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: Nepal Rastra Bank (NRB) has removed the requirement to have 50 to 100 per cent cash margin for opening letter of credit (LC) to import luxury goods. After the improvement in the foreign exchange reserves, the NRB on Thursday amended the Integrated Circular 2078 to remove the requirement of cash margin for the imports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">From now onwards, the importers need to maintain only the cash margin specified by the banks for opening LC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks take a cash margin of up to 5 percent while opening import LCs considering the risk factor. NRB has also removed the ban on the payment for imports through Demand Draft (DD), and Telegraphic Transfer (TT). </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Importers can now pay up to USD 35,000 through TT for the imports from third countries while they can pay up to Rs 300 million through draft and TT for imports from India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB had fixed the cash margin of 50 to 100 percent earlier to discourage import of luxury goods but gradually eased the restrictions as the situation improved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The ban imposed by the government on the import of luxury goods has already been lifted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank was under pressure from businessmen to remove the provision of cash margin. The International Monetary Fund (IMF) also pressured NRB to remove the provision of cash margin for imports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the report of NRB, the foreign exchange reserves were equal to Rs 1215 billion by the end of last fiscal year, which increased by 6.3 per cent and reached Rs 1290 by billion mid-November.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The foreign exchange reserves held by the banks as of mid-November can sustain imports for ten months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, Nepal Rastra Bank injected liquidity of Rs 3.8 billion in the market through repo on Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16542', 'image' => '20230120033746_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-01-20 15:36:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16799', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Unhappy with the Support Price Fixed by the Government', 'sub_title' => '', 'summary' => 'January 20: The sugarcane farmers have expressed their dissatisfaction after the government set the support price of sugarcane less than the cost incurred this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The sugarcane farmers have expressed their dissatisfaction after the government set the support price of sugarcane less than the cost incurred this year. Farmers are complaining that even the cost of sugarcane plantation cannot be collected because the support price of sugarcane is less that the production cost while the cost of transportation and wages of laborers have increased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government set the minimum support price of sugarcane at Rs 540 per quintal for the current fiscal year, including the production cost, transportation fee and profit. In addition, the government has announced a subsidy of Rs 70 per quintal for the farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the farmers, the minimum support price set by the government is only Rs 20 more than last year while the transportation cost has doubled. Rakesh Mishra, coordinator of Sugarcane Farmers Struggle Committee Sarlahi, said that sugarcane transportation cost and labor charge have doubled in one year, making the cost of sugarcane more than Rs 550 per quintal. Farmers get a profit of only 60 rupees per quintal from sugarcane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Mishra questioned the government, “How much effort does it take to produce one quintal of sugarcane throughout the year? Why doesn't the government increase the price of our hard work? If the profit is only Rs 60 per quintal after working hard throughout the year, why did the farmers have to cultivate sugarcane?”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He alleged that the government's intention is to demoralize the farmers and destroy the domestic sugar industry and production. He said, “Until the tradition of fixing the price inside the Singha Durbar without the farmers’ knowledge comes to an end, the farmers will not get a fair price for their produce.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kapil Muni Mainali, president of the Sugarcane Producers' Association said that before the government fixed the price, the association had suggested setting the purchase price of sugarcane at Rs 705 per quintal. He accused the government of doing great injustice to the farmers by arbitrarily fixing the price of sugarcane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Ministry of Agriculture on the other hand said that the purchase price is determined only after studying all aspects of farmers' efforts, costs and transportation expenses in a scientific manner. Due to the fact that the government does not fix the price in the interests of the farmers, the industrialists do not pay the money to the farmers on time. The attraction of the farmers towards sugarcane farming is decreasing recently due to the reasons like lack of chemical fertilizers and the non-availability of sugarcane seeds of high production quality in addition to not getting appropriate price for the produce.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16540', 'image' => '20230120033638_sugarcane.jpg', 'article_date' => '2023-01-20 15:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16798', 'article_category_id' => '1', 'title' => 'Khumbu Welcomes Tourists in Off-Season ', 'sub_title' => '', 'summary' => 'January 20: The Khumbu region in Solukhumbu district has received a good number of tourists even during the off-season this year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 20: The Khumbu region in Solukhumbu district has received a good number of tourists even during the off-season this year. The winter period is considered as an off-season for tourism in the Khumbu area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the past three days, a total of 95 people visited the Khumbu region, according to a report of the Sagarmatha National Park. Of them, 68 tourists were foreigners, three from SAARC countries, two Nepalis, 18 porters and four tour guides, Chief Conservation Officer of the National Park, Bhumiraj Upadhyay said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upadhyay added that a total of Rs 215,150 revenue was collected from them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, most of the hotels in the Khumbu region are closed due to winter and off-season for tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tourism entrepreneur Lama Kaji Shrestha said that the visitors have arrived here as the weather here is clear these days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As there is no snowfall this winter, the trekking routes here are in good condition. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16539', 'image' => '20230120025713_258482_218714068152324_7011012_o.jpg', 'article_date' => '2023-01-20 14:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16797', 'article_category_id' => '1', 'title' => '24 Flour Mills to get 30,000 Metric Tons of Wheat from India', 'sub_title' => '', 'summary' => 'January 20: The Ministry of Industry, Commerce and Supplies has requested the Indian Embassy in Kathmandu to provide 30,489 metric tons of wheat to 24 flour mills operating in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The Ministry of Industry, Commerce and Supplies has requested the Indian Embassy in Kathmandu to provide 30,489 metric tons of wheat to 24 flour mills operating in Nepal. India has pledged to supply 50,000 metric tons of wheat to Nepal on needs basis. The ministry has allocated quotas for the 24 flour mills based on the recommendation of Nepal Flour Mills Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the Indian Embassy sends the letter to India’s Ministry of Commerce, Nepali flour mill operators will be able to buy wheat from the Indian traders of their contact.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Spokesman at the Ministry of Industry, Commerce and Supplies Dr Narayan Regmi informed that the quota for wheat imports which will be completed by March and the businessmen will be able to import the remaining quantity of wheat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">India banned wheat exports 10 months ago citing the Russia-Ukraine war and the decline in production. This had affected the Nepali industries that are chiefly dependent on India for wheat supplies. India is one of the largest wheat producers in the world. The price of fine flour in Nepal, which was Rs 50 per kg before India's export ban, has gone up to Rs 70. Similarly, the price of Rs 55 per kg of common flour has risen to Rs 76, and semolina which used to cost Rs 60 per kg now costs Rs 80 while the price of bran, which used to be sold at Rs 38 per kg has now increased to Rs 46. Industrialists say that the price of all products will be reduced by 15 percent if wheat supply from India resumes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the price of wheat in Nepal is Rs 52 per kg, and that of fine flour is Rs 70, common flour Rs 76, semolina Rs 80 and bran Rs 46. This price does not include VAT. The price of wheat in India is INR 28.50, fine flour INR 32, common flour INR 34, and bran INR 28 per kg.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen say that Nepal's flour mills need 1 million metric tons of wheat annually. Kumud Dugad, president of the Nepal Flour Mills Association, said 40 percent of the demand is fulfilled by Nepal's domestic production, while the remaining 60 percent should be imported from India. He said that the production of more than two dozen industries has stopped due to the short-supply of wheat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Secretary of the association, Bikash Begwani said that after the arrival of wheat from India, the price here will be cheaper by 15 percent and the price of flour will be cheaper by Rs 10 per kg. Begwani said that the government should request an additional 300,000 tons of wheat from India as the quota of wheat arriving in the first batch will last for just 2 weeks. He said that 300,000 tons of wheat will be sufficient till April when domestic wheat will be available in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">India gave permission for the export of 50,000 tons of wheat to Nepal following a request from the then Minister for Industry, Commerce and Supplies Dilendra Prasad Badu. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16538', 'image' => '20230120013206_wheatttttt.jpg', 'article_date' => '2023-01-20 13:31:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16796', 'article_category_id' => '1', 'title' => 'Snowfall in Humla ', 'sub_title' => '', 'summary' => 'January 20: Humla district witnessed a snowfall from last night, the first during this winter. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 20: Humla district witnessed a snowfall from last night, the first during this winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the previous years, the district used to receive snowfall in December. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals in the district headquarters Simkot have been enjoying the snowfall that occurred after a long gap. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the heavy snowfall has affected the normal life in the northern belt of the district. Local residents said that normal life has come to a standstill at Limi village in Namkha Rural Municipality-6 due to the heavy snowfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villages including Limi, Muchu, Khagalgaun, Til and Jang have received heavy snowfall, affecting the normal life and locals’ mobility there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meantime, the farmers are hopeful of good production of millet, buckwheat and other winter crops. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16537', 'image' => '20230120114200_DB_Simkot-2.jpg', 'article_date' => '2023-01-20 11:41:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16795', 'article_category_id' => '1', 'title' => 'National Startup Enterprise Policy to be Unveiled within this Fiscal Year', 'sub_title' => '', 'summary' => 'January 20: The Ministry of Industry, Commerce and Supplies is preparing to unveil the 'National Startup Enterprise Policy' within the current fiscacl year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The Ministry of Industry, Commerce and Supplies is preparing to unveil the 'National Startup Enterprise Policy' within the current fiscacl year. The policy has been under discussion for a long time. The ministry is currently discussing the draft of the policy with various stakeholders, including the Ministry of Finance, the National Planning Commission, the Federation of Nepalese Chamber of Commerce, Confederation of Nepalese Industries among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Baburam Gautam, joint secretary of the Ministry of Industry, Commerce and Supplies, said that the 'National Startup Enterprise Policy 2079' is under internal discussion. Gautam said that the draft is currently being discussed at various stages in the ministry, and it is ready to be released in this fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there is no other provision regarding the registration of startup enterprises and businesses, startups are placed under micro, domestic and small industries, according to the existing laws.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Entrepreneur Ranjit Acharya, who is representing NYEF of the Federation of Nepalese Industries and Commerce, said he has been present at the ministry for the past 13 months and is working like an employee to draft the policy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Acharya said that since the startup policy is now also in the interest of the government, they are trying to implement this policy latest by a month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“Before making the startup policy, we studied the policies of various countries, including India, China, and America. While making the policy, our main priority with the government is to encourage new entrepreneurs to create a startup-friendly environment, to include in the policy topics such as giving income tax exemptions and providing subsidized loans,'' he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Acharya informed that a comprehensive discussion on startup policy will soon be held under the coordination of the Federation of Nepalese Chamber of Commerce and Industry. After the National Startup Enterprise Policy 2079 is approved by the Ministry of Law and implemented, the startups will operate according to the new policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The current law of Nepal defines a startup as a venture under seven years of registration, operating professionally for skill development using innovative approach and creative thinking in order to develop, produce, and distribute goods and services. A startup should improve the existing production method through the use of modern systems and technology to remove the existing problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that this policy, which has been gathering dust on the table of government for a long time, will be implemented soon.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The draft proses certain criteria for a new company to be considered as a startup venture. They include:</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">1. The number of full-time workers in the enterprise is not more than 10</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">2. The total profit of the enterprise from the annual income should not exceed Rs 5 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">3. Fixed capital (excluding the value of the real estate) should not exceed Rs 20 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">4. Paid-up capital should not exceed Rs 3 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">5. The enterprise must not be operating for more than seven years</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">6. The enterprise should have two or more founders</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">7. Must have innovative approach for solving problems</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">8. Use of information technology to produce and distribute goods or services in an efficient, accessible and reliable manner or to expand the existing work in a new way</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">9. At least 5 per cent of the company's annual expenses are spent on product development, market development, and research and development</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">10. A patent or design or software of the intellectual property of the enterprise is registered or the patent or design or software is eligible for registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Enterprises that meets at least five conditions, including two from points 7 to 10, can start a business as a startup</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businesses not considered start-up ventures (proposed)</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Not registered in Nepal according to existing laws</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- The act of importing goods or services from abroad without using information technology and without using the latest technology and research</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Blacklisted by Credit Information Center or operated by such person</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- No permanent account number for tax purposes</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- As a holding company, an enterprise classified as a medium or large industry according to the Industrial Business Act, 2076</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Other matters prohibited by prevailing laws</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16536', 'image' => '20230120102625_startup.jpg', 'article_date' => '2023-01-20 10:25:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16810', 'article_category_id' => '1', 'title' => 'Banks' Profit Affected by Bad Loans', 'sub_title' => '', 'summary' => 'January 22: The increase in bad loans has affected the profitability of banks in the second quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: The increase in bad loans has affected the profitability of banks in the second quarter<strong> </strong>of the current fiscal year. Likewise, the banks facing liquidity crunch have also been affected due to the Covid-19 pandemic and the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As of January 21, a total of 20 banks that published their unaudited financial statements have earned a net profit of Rs 29.87 billion. It is only 1.85 per cent more than the profit earned during the corresponding period of the last fiscal year when the banks made a profit of Rs 29.33 billion. During the last fiscal year, the profit of the banks increased by 10 per cent compared to the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Investment and Mega Bank merged with each other to start integrated business as Nepal Investment Mega Bank while Kumari Bank and NCC Bank which merged with each other are yet to publish their financial statements. Among the banks that have published their financial statements, the profit of a dozen banks has increased compared to last year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The profit of Everest Bank has increased the highest by 89.29 per cent. The profit of eight banks has decreased compared to last fiscal year. The net profit of the Agriculture Development Bank has decreased by 109 per cent resulting in a loss of Rs 128.9 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Global IME Bank’s profit increased by 4.47 per cent, while the profit of Bank of Kathmandu before the merger decreased by 4.37 per cent. BoK’s profit of Rs 452.5 million has been adjusted with the profit of the current fiscal year of Global IME Bank. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '16551', 'image' => '20230122042344_Banks.jpg', 'article_date' => '2023-01-22 16:23:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16809', 'article_category_id' => '1', 'title' => 'Sugarcane Production Declining in Nepal', 'sub_title' => '', 'summary' => 'January 22: The production of Sugarcane, which is the main cash crop of Nepal, is decreasing in recent times. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: The production of Sugarcane, which is the main cash crop of Nepal, is decreasing in recent times. Government data shows that sugarcane production decreased by more than 305,000 metric tons in the last three years. Stakeholders say that production is decreasing due to increasing cost of production, risky market, low competitiveness and problems in getting the amount of sugarcane sold on credit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data provided by the Ministry of Agriculture and Livestock Development, sugarcane cultivation was done on 71,625 hectares of land in the fiscal year (FY) 2075/76 yielding production of 3,557,934 tons of sugarcane. But by FY 2077/78, the cultivation area reduced by 7,271 hectares to 64,354 hectares, and the production reduced by 373,991 tons to 318,3943 tons. Meanwhile, the productivity of sugarcane decreased to 49.47 tons which was 49.6 tons in FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, although there is a lot of potential to get quality products with high productivity by expanding sugarcane cultivation commercially in the country, the production is decreasing due to internal problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prakash Kumar Sanjel, spokesperson of the ministry, said that the cost-price ratio decreased due to the low productivity of sugarcane in Nepal compared to other countries. Farmers also lack quality sugarcane varieties. Due to this, both productivity and production are decreasing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In recent times sugarcane market is also at risk, adding problems to the production. According to a statement released by the ministry, 13 large industries are currently purchasing sugarcane from the farmers in Nepal in big scale. There are many farmers who produce sugarcane on a small scale. Therefore, there are many sugarcane producers and limited number of buyers in Nepal. The government's role in market regulation is secondary. In such a situation, there is a high possibility that the limited number of buyers can exploit the small farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to this kind of effect, sugarcane farmers had to come to Kathmandu many times and stage street protests to get payment for the sugarcane they sold on credit to the industrialists. Even though the government has introduced programs such as fixing the minimum support price for sugarcane, promoting irrigation for sugarcane and promoting the development of seeds of superior quality in the country, the sugarcane farmers have started turning to other crops because of the failure in effective implementation of those initiatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The sugar produced in Nepal is not able to compete with the price of imported sugar in terms of production cost. According to a report published by the United States Department of Agriculture (USDA) in 2018, Nepal's neighboring countries including India and Pakistan provide high subsidies for sugar and sugarcane production, which has affected Nepal's sugar production.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16550', 'image' => '20230122031034_HB_KTM-IMG_0142.jpg', 'article_date' => '2023-01-22 15:09:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16808', 'article_category_id' => '1', 'title' => 'Imports from Birgunj Decline by 15 Percent', 'sub_title' => '', 'summary' => 'January 22: Import and export through the Birganj customs has declined in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: Import and export through the Birganj customs has declined in the first six months of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the statistics of Birgunj Customs, the import decreased by 15.3 percent and the export by 62.7 percent between mid-July to mid-January this fiscal year compared to the corresponding period of last year</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first 6 months of last fiscal year, goods worth Rs 348 billion were imported into Nepal through this customs point. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhan Bahadur Baruwal, Chief Customs Officer of Birgunj Customs, informed that goods worth Rs 295 billion have been imported during the same period this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Exports on the other hand decreased to Rs 20 billion from Rs 55 billion during the review period. In the previous years, the export of refined cooking oil from Nepal used to take place in a considerable amount when India imposed high customs duty on oil imports from other countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal had been exporting refined oil to India by importing crude oil from third countries. However, after India adopted a zero duty policy on oil imports, the export from Nepal reduced significantly as the exporters could no longer benefit from the customs duty gap. Products such as shoes, yarn, and juice are mainly exported through Birgunj Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16549', 'image' => '20230122025513_Birgunjjjjjjjjjj.jpg', 'article_date' => '2023-01-22 14:54:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16807', 'article_category_id' => '1', 'title' => 'Tamang Community Observing Sonam Lhosar Today', 'sub_title' => '', 'summary' => 'January 22: The Tamang community is observing Sonam Lhosar across the country today by organising various programmes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: The Tamang community is observing Sonam Lhosar across the country today by organising various programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival is taken as the commencement of the near year as per the Manju Shree calendar or Tibetan lunar calendar and today marks the beginning of the year 2859. </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"">As per the Tamang tradition, today they complete the ‘year of tiger’ and enter the ‘year of rabbit’. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival falls on the first day of the bright half in the month of Magh (mid-January to mid-February) according to the lunar calendar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a custom in the Taming community to count the year with association of symbols of 12 different animals: rat, cow, tiger, rabbit, dragon, snake, horse, sheep, monkey, bird, dog and boar. It starts with rat and ends on boar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to researcher Tika Sherpa, the counting of year with the name of animals suggest that the Tamang people are worshippers of nature. Various districts in the Bagmati Province are predominantly Tamang districts and this festival is observed in such districts with much fanfare. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Bouddhanath Area Development Trust has planned various programmes today to observe the festival. Likewise, Nepal Tamang Ghedung has decided to mark the festival by organising programmes in the Tundikhel for the next three days. Likewise, the Swoyambhu area in Kathmandu is also hosting programmes on the occasion. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16548', 'image' => '20230122125214_sonam.jpg', 'article_date' => '2023-01-22 12:51:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16806', 'article_category_id' => '1', 'title' => 'Black Box of Crashed Yeti Airlines Plane will be sent to France ', 'sub_title' => '', 'summary' => 'January 22: The black box of ATR-72 aircraft of Yeti Airlines that crashed in Pokhara on January 15 is being sent to France for technical analysis by the aircraft manufacturer. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: The black box of ATR-72 aircraft of Yeti Airlines that crashed in Pokhara on January 15 is being sent to France for technical analysis by the aircraft manufacturer. Joint Secretary at the Ministry of Culture, Tourism and Civil Aviation and member-secretary of Air Crash Investigation Committee Budhisagar Lamichhane told the state-owned national news agency RSS that the black box of the aircraft is being sent to France for an independent analysis of the accident. The expert team of the Air Crash Investigation Committee will also go to France along with the black box, added RSS. </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"">According to Lamichhane, the black box will be sent to the aircraft manufacturing company in France next week.</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 black box contains Cockpit Voice Recorder and Flight Data Recorder which will help in the effective investigation of the accident. </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 committee has so far conducted on-site monitoring of the accident site, collected necessary documents and discussed with experts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Yeti Airlines flight with call sign 9N-ANC (ATR-72-212) flying from Kathmandu to Pokhara crashed in the Seti River gorge, killing 71 out of 72 people including the crew members of the plane. The body of one more passenger traveling on the plane is yet to be found. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16547', 'image' => '20230122111105_Untitled.jpg', 'article_date' => '2023-01-22 11:10:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16805', 'article_category_id' => '274', 'title' => 'Contracted Trade Causes Revenue to Fall ', 'sub_title' => '', 'summary' => 'Birgunj Customs office, Nepal’s one of the major entry points for trade with India and other countries, has failed to collect revenue in accordance with target in the first six months of the current fiscal year.', 'content' => '<p> </p> <p><span style="font-size:18px">January 22: Birgunj Customs office, Nepal’s one of the major entry points for trade with India and other countries, has failed to collect revenue in accordance with target in the first six months of the current fiscal year.</span></p> <p><span style="font-size:18px">The Customs office has collected only 62.4 per cent of its total revenue target. <br /> According to the customs office, the Department of Customs had set the target to amass a revenue of Rs 122.77 billion during the first six months of the current fiscal year. </span></p> <p><span style="font-size:18px">The customs office, however, has collected only Rs 76.54 billion during review period. <br /> Customs officials say that the government’s policy to control the trade following the depletion of foreign exchange reserve had caused the revenue to shrink. </span></p> <p><span style="font-size:18px">Import of petroleum products and vehicles contributes largely to the revenue from Birgunj Customs office. Ban on the import of vehicles for a long time led to the revenue to drop”, said Birgunj Customs Office Chief Dhan Bahadur Baruwal.</span></p> <p><span style="font-size:18px">The government that started tightening import of goods from the second quarter of the last fiscal year had imposed ban on the import of vehicles, expensive mobile phones, and liquor from the fourth quarter of the last fiscal.</span></p> <p><span style="font-size:18px">The government has recently removed the provision of cash margin for opening letter of credit after it removed the ban placed on the import of vehicles and other expensive goods.</span></p> <p><span style="font-size:18px">Despite the opening of the import, auto importers have not brought vehicles citing lack of demand and banks not providing loan for the same.</span></p> <p><span style="font-size:18px">Auto importers are hardly importing four to five vehicles these days against 30 to 35 on a daily basis in the past. <br /> “More than 2000 vehicles have gathered at the yard of Integrated Check Post,” according to Nepal Intermodel Transport Development Board Birgunj Office Chief Kamal Gyawali.</span></p> <p><span style="font-size:18px">Birgunj Customs collected only Rs 26 billion of customs duty against its target of 48 billion. Likewise, the customs point collected Rs 34 billion in value added tax despite its target to collect Rs 44 billion. </span></p> <p><span style="font-size:18px">The office collected Rs 5 billion of excise duty against its target to collect Rs 12 billion. Customs officials say that ban on the import of vehicles led the office to miss its target.</span></p> <p><span style="font-size:18px">Birgunj Customs collected infrastructure tax of Rs 6 billion from the petroleum products against its target to collect 9 billion during the same period. </span></p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16546', 'image' => '20230122061641_collage (33).jpg', 'article_date' => '2023-01-22 06:12:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16804', 'article_category_id' => '1', 'title' => 'EU's On-Site Evaluation Team Postpones its Plan to Visit Nepal', 'sub_title' => '', 'summary' => 'January 21: The European Union (EU) has put off its plan of undertaking an on-site evaluation of Nepal’s aviation sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The European Union (EU) has put off its plan of undertaking an on-site evaluation of Nepal’s aviation sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Civil Aviation Authority of Nepal (CAAN) said that the planned visit of EU's technical team has been postponed for the time being. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a joint statement on Friday, Director-General of CAAN Pradeep Adhikari and EU's Ambassador to Nepal Nona Deprez said that the scheduled Nepal visit of the on-site evaluation team has been put off for now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to CAAN Spokesperson Jagannath Niraula, EU's Nepal visit has been put off on mutual agreement as the human resource of the CAAN has to be deployed to investigate the crash of the Yeti Airlines plane in Pokhara on January 15. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on October, a team of the EU had undertaken a study of the aviation safety of Nepal and drew a conclusion that notable progress was made in aviation safety. The team had returned with a decision to send another team to carry out an on-site evaluation of the aviation safety of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the statement, the EU has clarified that it would continue its support to Nepal for aviation safety. EU had blacklisted Nepal in its air safety list since 2013 citing safety concners. Nepal has made several efforts to get itself removed from the blacklist. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The International Civil Aviation Organization (ICAO)'s recent audit has assessed Nepal's aviation safety compliance rate to be 70.1 percent, which is above the global average. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-21', 'modified' => '2023-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '16545', 'image' => '20230121051057_european-union.jpg', 'article_date' => '2023-01-21 17:10:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16803', 'article_category_id' => '1', 'title' => 'Government Ready to Revise Foreign Employment Act, says Prime Minister Dahal ', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said the government is ready to revise the Foreign Employment Act to make the foreign employment business fair and transparent. ', 'content' => '<p><br /> <span style="font-size:20px">January 20: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said the government is ready to revise the Foreign Employment Act to make the foreign employment business fair and transparent. </span></p> <p><span style="font-size:20px">Addressing the 29th Annual General Assembly(AGM) of Nepal Association of Foreign Employment Agencies (NAFEA) organised in Kathmandu on Friday, Prime Minister Dahal reiterated that he was ready to make business of foreign employment transparent and respectful after consultation with the Labour Minister and ministry’s Secretary.</span></p> <p><span style="font-size:20px">Dahal sought assistance of entrepreneurs involved in the business of foreign employment to end malpractices prevalent in the domain of foreign employment. </span></p> <p><span style="font-size:20px">“The government is making headway in making the foreign employment transparent and effective and in stopping the wrong practices widespread in the field”, Dahal added.</span></p> <p><span style="font-size:20px">Dahal stated that the government was prepared to forge friendly and cordial relationship with entrepreneurs and industrialists to usher in economic development and prosperity in the country. </span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16544', 'image' => '20230120054801_collage (73).jpg', 'article_date' => '2023-01-20 17:44:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '16802', 'article_category_id' => '1', 'title' => 'Electricity Leakage Declines ', 'sub_title' => '', 'summary' => 'Nepal Electricity Authority (NEA) has achieved a remarkable success in controlling electricity leakage. The NEA has reduced the power leakage to 7.49 per cent in the distribution side in the first five months of the current fiscal year, according to the Nepal Electricity Authority.', 'content' => '<p><span style="font-size:16px">January 20: Nepal Electricity Authority (NEA) has achieved a remarkable success in controlling electricity leakage.<br /> The NEA has reduced the power leakage to 7.49 per cent in the distribution side in the first five months of the current fiscal year, according to the Nepal Electricity Authority.</span></p> <p><span style="font-size:16px">Power leakage was 9.23 per cent in the distribution side in the first five months of the last fiscal year, which fell by 1.74 per cent during the same period this fiscal. </span></p> <p><span style="font-size:16px">By the end of the fifth month of the current fiscal year, the distribution system has received 4.147 billion units of electricity. Out of it, 3.836 billion units of electricity were sold, while 31.779 million units of electricity leaked. </span></p> <p><span style="font-size:16px">Power leakage on transmission side stands at 4.56 percent till the end of the fifth month of the same period. Power leakage of the total system including distribution and transmission side stands at 12.5 per cent. </span></p> <p><span style="font-size:16px">Electricity leakage of the entire system was 15.38 per cent till 15 July, 2022. <br /> The largest part of the power leakage in the system is on the distribution side. The Authority has set a target of reducing the electricity leakage of the overall system to 14 percent and the distribution leakage to 8.5 percent in the current fiscal year.</span></p> <p><span style="font-size:16px">The power leakage on distribution side that was 22 per cent around seven years ago has come down to 7.49 per cent , which is a great achievement, said Executive Director Kulman Ghising of the Nepal Electricity Authority.</span></p> <p><span style="font-size:16px">Ghising said that NEA had deployed its staffers to reduce the leakage below its target by making steps launched to control technical and non-technical leakage effective. </span></p> <p><span style="font-size:16px">“During this period, new substations have been constructed, the existing substations have been upgraded, electricity consumption has increased in the industrial sector, meter reading has been made effective, and the leakages have decreased due to the accumulated unit billing of customers," Ghising said. </span></p> <p><span style="font-size:16px">Regular monitoring and action against the power theft, strengthening overloaded substations and feeder lines, construction of new substations, and replacement of conductors have led to the fall of power leakage , said NEA Executive Director Ghising. </span></p> <p><span style="font-size:16px">Increasing the capacity of substations, adding conductors, changing overloaded transformers, and encouraging the use of three-phase meters have caused the leakage to subside. </span></p> <p><span style="font-size:16px">The NEA has launched various measures as campaign to control the power leakage. The NEA has stepped up efforts to control power theft and collect arrears and adopted strict actions against those who steal power, replace and bypass meters. </span></p> <p><span style="font-size:16px">Out of the distribution centers under the NEA’s seven regional offices and two provincial division offices, Madhesh Province Regional Office, Janakpur has the highest electricity leakage. The total electricity leakage of 23 distribution centers under Janakpur Regional Office is 12.80 percent till mid-December.</span><br /> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16543', 'image' => '20230120050800_collage (71).jpg', 'article_date' => '2023-01-20 17:00:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '16801', 'article_category_id' => '1', 'title' => 'NRB Removes Cash Margin for LC', 'sub_title' => '', 'summary' => 'January 20: Nepal Rastra Bank (NRB) has removed the requirement to have 50 to 100 per cent cash margin for opening letter of credit (LC) to import luxury goods. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: Nepal Rastra Bank (NRB) has removed the requirement to have 50 to 100 per cent cash margin for opening letter of credit (LC) to import luxury goods. After the improvement in the foreign exchange reserves, the NRB on Thursday amended the Integrated Circular 2078 to remove the requirement of cash margin for the imports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">From now onwards, the importers need to maintain only the cash margin specified by the banks for opening LC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks take a cash margin of up to 5 percent while opening import LCs considering the risk factor. NRB has also removed the ban on the payment for imports through Demand Draft (DD), and Telegraphic Transfer (TT). </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Importers can now pay up to USD 35,000 through TT for the imports from third countries while they can pay up to Rs 300 million through draft and TT for imports from India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB had fixed the cash margin of 50 to 100 percent earlier to discourage import of luxury goods but gradually eased the restrictions as the situation improved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The ban imposed by the government on the import of luxury goods has already been lifted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank was under pressure from businessmen to remove the provision of cash margin. The International Monetary Fund (IMF) also pressured NRB to remove the provision of cash margin for imports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the report of NRB, the foreign exchange reserves were equal to Rs 1215 billion by the end of last fiscal year, which increased by 6.3 per cent and reached Rs 1290 by billion mid-November.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The foreign exchange reserves held by the banks as of mid-November can sustain imports for ten months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, Nepal Rastra Bank injected liquidity of Rs 3.8 billion in the market through repo on Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16542', 'image' => '20230120033746_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-01-20 15:36:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16799', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Unhappy with the Support Price Fixed by the Government', 'sub_title' => '', 'summary' => 'January 20: The sugarcane farmers have expressed their dissatisfaction after the government set the support price of sugarcane less than the cost incurred this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The sugarcane farmers have expressed their dissatisfaction after the government set the support price of sugarcane less than the cost incurred this year. Farmers are complaining that even the cost of sugarcane plantation cannot be collected because the support price of sugarcane is less that the production cost while the cost of transportation and wages of laborers have increased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government set the minimum support price of sugarcane at Rs 540 per quintal for the current fiscal year, including the production cost, transportation fee and profit. In addition, the government has announced a subsidy of Rs 70 per quintal for the farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the farmers, the minimum support price set by the government is only Rs 20 more than last year while the transportation cost has doubled. Rakesh Mishra, coordinator of Sugarcane Farmers Struggle Committee Sarlahi, said that sugarcane transportation cost and labor charge have doubled in one year, making the cost of sugarcane more than Rs 550 per quintal. Farmers get a profit of only 60 rupees per quintal from sugarcane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Mishra questioned the government, “How much effort does it take to produce one quintal of sugarcane throughout the year? Why doesn't the government increase the price of our hard work? If the profit is only Rs 60 per quintal after working hard throughout the year, why did the farmers have to cultivate sugarcane?”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He alleged that the government's intention is to demoralize the farmers and destroy the domestic sugar industry and production. He said, “Until the tradition of fixing the price inside the Singha Durbar without the farmers’ knowledge comes to an end, the farmers will not get a fair price for their produce.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kapil Muni Mainali, president of the Sugarcane Producers' Association said that before the government fixed the price, the association had suggested setting the purchase price of sugarcane at Rs 705 per quintal. He accused the government of doing great injustice to the farmers by arbitrarily fixing the price of sugarcane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Ministry of Agriculture on the other hand said that the purchase price is determined only after studying all aspects of farmers' efforts, costs and transportation expenses in a scientific manner. Due to the fact that the government does not fix the price in the interests of the farmers, the industrialists do not pay the money to the farmers on time. The attraction of the farmers towards sugarcane farming is decreasing recently due to the reasons like lack of chemical fertilizers and the non-availability of sugarcane seeds of high production quality in addition to not getting appropriate price for the produce.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16540', 'image' => '20230120033638_sugarcane.jpg', 'article_date' => '2023-01-20 15:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16798', 'article_category_id' => '1', 'title' => 'Khumbu Welcomes Tourists in Off-Season ', 'sub_title' => '', 'summary' => 'January 20: The Khumbu region in Solukhumbu district has received a good number of tourists even during the off-season this year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 20: The Khumbu region in Solukhumbu district has received a good number of tourists even during the off-season this year. The winter period is considered as an off-season for tourism in the Khumbu area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the past three days, a total of 95 people visited the Khumbu region, according to a report of the Sagarmatha National Park. Of them, 68 tourists were foreigners, three from SAARC countries, two Nepalis, 18 porters and four tour guides, Chief Conservation Officer of the National Park, Bhumiraj Upadhyay said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upadhyay added that a total of Rs 215,150 revenue was collected from them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, most of the hotels in the Khumbu region are closed due to winter and off-season for tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tourism entrepreneur Lama Kaji Shrestha said that the visitors have arrived here as the weather here is clear these days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As there is no snowfall this winter, the trekking routes here are in good condition. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16539', 'image' => '20230120025713_258482_218714068152324_7011012_o.jpg', 'article_date' => '2023-01-20 14:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16797', 'article_category_id' => '1', 'title' => '24 Flour Mills to get 30,000 Metric Tons of Wheat from India', 'sub_title' => '', 'summary' => 'January 20: The Ministry of Industry, Commerce and Supplies has requested the Indian Embassy in Kathmandu to provide 30,489 metric tons of wheat to 24 flour mills operating in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The Ministry of Industry, Commerce and Supplies has requested the Indian Embassy in Kathmandu to provide 30,489 metric tons of wheat to 24 flour mills operating in Nepal. India has pledged to supply 50,000 metric tons of wheat to Nepal on needs basis. The ministry has allocated quotas for the 24 flour mills based on the recommendation of Nepal Flour Mills Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the Indian Embassy sends the letter to India’s Ministry of Commerce, Nepali flour mill operators will be able to buy wheat from the Indian traders of their contact.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Spokesman at the Ministry of Industry, Commerce and Supplies Dr Narayan Regmi informed that the quota for wheat imports which will be completed by March and the businessmen will be able to import the remaining quantity of wheat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">India banned wheat exports 10 months ago citing the Russia-Ukraine war and the decline in production. This had affected the Nepali industries that are chiefly dependent on India for wheat supplies. India is one of the largest wheat producers in the world. The price of fine flour in Nepal, which was Rs 50 per kg before India's export ban, has gone up to Rs 70. Similarly, the price of Rs 55 per kg of common flour has risen to Rs 76, and semolina which used to cost Rs 60 per kg now costs Rs 80 while the price of bran, which used to be sold at Rs 38 per kg has now increased to Rs 46. Industrialists say that the price of all products will be reduced by 15 percent if wheat supply from India resumes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the price of wheat in Nepal is Rs 52 per kg, and that of fine flour is Rs 70, common flour Rs 76, semolina Rs 80 and bran Rs 46. This price does not include VAT. The price of wheat in India is INR 28.50, fine flour INR 32, common flour INR 34, and bran INR 28 per kg.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen say that Nepal's flour mills need 1 million metric tons of wheat annually. Kumud Dugad, president of the Nepal Flour Mills Association, said 40 percent of the demand is fulfilled by Nepal's domestic production, while the remaining 60 percent should be imported from India. He said that the production of more than two dozen industries has stopped due to the short-supply of wheat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Secretary of the association, Bikash Begwani said that after the arrival of wheat from India, the price here will be cheaper by 15 percent and the price of flour will be cheaper by Rs 10 per kg. Begwani said that the government should request an additional 300,000 tons of wheat from India as the quota of wheat arriving in the first batch will last for just 2 weeks. He said that 300,000 tons of wheat will be sufficient till April when domestic wheat will be available in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">India gave permission for the export of 50,000 tons of wheat to Nepal following a request from the then Minister for Industry, Commerce and Supplies Dilendra Prasad Badu. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16538', 'image' => '20230120013206_wheatttttt.jpg', 'article_date' => '2023-01-20 13:31:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16796', 'article_category_id' => '1', 'title' => 'Snowfall in Humla ', 'sub_title' => '', 'summary' => 'January 20: Humla district witnessed a snowfall from last night, the first during this winter. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 20: Humla district witnessed a snowfall from last night, the first during this winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the previous years, the district used to receive snowfall in December. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals in the district headquarters Simkot have been enjoying the snowfall that occurred after a long gap. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the heavy snowfall has affected the normal life in the northern belt of the district. Local residents said that normal life has come to a standstill at Limi village in Namkha Rural Municipality-6 due to the heavy snowfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villages including Limi, Muchu, Khagalgaun, Til and Jang have received heavy snowfall, affecting the normal life and locals’ mobility there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meantime, the farmers are hopeful of good production of millet, buckwheat and other winter crops. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16537', 'image' => '20230120114200_DB_Simkot-2.jpg', 'article_date' => '2023-01-20 11:41:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16795', 'article_category_id' => '1', 'title' => 'National Startup Enterprise Policy to be Unveiled within this Fiscal Year', 'sub_title' => '', 'summary' => 'January 20: The Ministry of Industry, Commerce and Supplies is preparing to unveil the 'National Startup Enterprise Policy' within the current fiscacl year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The Ministry of Industry, Commerce and Supplies is preparing to unveil the 'National Startup Enterprise Policy' within the current fiscacl year. The policy has been under discussion for a long time. The ministry is currently discussing the draft of the policy with various stakeholders, including the Ministry of Finance, the National Planning Commission, the Federation of Nepalese Chamber of Commerce, Confederation of Nepalese Industries among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Baburam Gautam, joint secretary of the Ministry of Industry, Commerce and Supplies, said that the 'National Startup Enterprise Policy 2079' is under internal discussion. Gautam said that the draft is currently being discussed at various stages in the ministry, and it is ready to be released in this fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there is no other provision regarding the registration of startup enterprises and businesses, startups are placed under micro, domestic and small industries, according to the existing laws.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Entrepreneur Ranjit Acharya, who is representing NYEF of the Federation of Nepalese Industries and Commerce, said he has been present at the ministry for the past 13 months and is working like an employee to draft the policy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Acharya said that since the startup policy is now also in the interest of the government, they are trying to implement this policy latest by a month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“Before making the startup policy, we studied the policies of various countries, including India, China, and America. While making the policy, our main priority with the government is to encourage new entrepreneurs to create a startup-friendly environment, to include in the policy topics such as giving income tax exemptions and providing subsidized loans,'' he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Acharya informed that a comprehensive discussion on startup policy will soon be held under the coordination of the Federation of Nepalese Chamber of Commerce and Industry. After the National Startup Enterprise Policy 2079 is approved by the Ministry of Law and implemented, the startups will operate according to the new policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The current law of Nepal defines a startup as a venture under seven years of registration, operating professionally for skill development using innovative approach and creative thinking in order to develop, produce, and distribute goods and services. A startup should improve the existing production method through the use of modern systems and technology to remove the existing problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that this policy, which has been gathering dust on the table of government for a long time, will be implemented soon.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The draft proses certain criteria for a new company to be considered as a startup venture. They include:</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">1. The number of full-time workers in the enterprise is not more than 10</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">2. The total profit of the enterprise from the annual income should not exceed Rs 5 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">3. Fixed capital (excluding the value of the real estate) should not exceed Rs 20 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">4. Paid-up capital should not exceed Rs 3 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">5. The enterprise must not be operating for more than seven years</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">6. The enterprise should have two or more founders</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">7. Must have innovative approach for solving problems</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">8. Use of information technology to produce and distribute goods or services in an efficient, accessible and reliable manner or to expand the existing work in a new way</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">9. At least 5 per cent of the company's annual expenses are spent on product development, market development, and research and development</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">10. A patent or design or software of the intellectual property of the enterprise is registered or the patent or design or software is eligible for registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Enterprises that meets at least five conditions, including two from points 7 to 10, can start a business as a startup</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businesses not considered start-up ventures (proposed)</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Not registered in Nepal according to existing laws</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- The act of importing goods or services from abroad without using information technology and without using the latest technology and research</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Blacklisted by Credit Information Center or operated by such person</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- No permanent account number for tax purposes</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- As a holding company, an enterprise classified as a medium or large industry according to the Industrial Business Act, 2076</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Other matters prohibited by prevailing laws</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16536', 'image' => '20230120102625_startup.jpg', 'article_date' => '2023-01-20 10:25:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16810', 'article_category_id' => '1', 'title' => 'Banks' Profit Affected by Bad Loans', 'sub_title' => '', 'summary' => 'January 22: The increase in bad loans has affected the profitability of banks in the second quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: The increase in bad loans has affected the profitability of banks in the second quarter<strong> </strong>of the current fiscal year. Likewise, the banks facing liquidity crunch have also been affected due to the Covid-19 pandemic and the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As of January 21, a total of 20 banks that published their unaudited financial statements have earned a net profit of Rs 29.87 billion. It is only 1.85 per cent more than the profit earned during the corresponding period of the last fiscal year when the banks made a profit of Rs 29.33 billion. During the last fiscal year, the profit of the banks increased by 10 per cent compared to the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Investment and Mega Bank merged with each other to start integrated business as Nepal Investment Mega Bank while Kumari Bank and NCC Bank which merged with each other are yet to publish their financial statements. Among the banks that have published their financial statements, the profit of a dozen banks has increased compared to last year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The profit of Everest Bank has increased the highest by 89.29 per cent. The profit of eight banks has decreased compared to last fiscal year. The net profit of the Agriculture Development Bank has decreased by 109 per cent resulting in a loss of Rs 128.9 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Global IME Bank’s profit increased by 4.47 per cent, while the profit of Bank of Kathmandu before the merger decreased by 4.37 per cent. BoK’s profit of Rs 452.5 million has been adjusted with the profit of the current fiscal year of Global IME Bank. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '16551', 'image' => '20230122042344_Banks.jpg', 'article_date' => '2023-01-22 16:23:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16809', 'article_category_id' => '1', 'title' => 'Sugarcane Production Declining in Nepal', 'sub_title' => '', 'summary' => 'January 22: The production of Sugarcane, which is the main cash crop of Nepal, is decreasing in recent times. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: The production of Sugarcane, which is the main cash crop of Nepal, is decreasing in recent times. Government data shows that sugarcane production decreased by more than 305,000 metric tons in the last three years. Stakeholders say that production is decreasing due to increasing cost of production, risky market, low competitiveness and problems in getting the amount of sugarcane sold on credit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data provided by the Ministry of Agriculture and Livestock Development, sugarcane cultivation was done on 71,625 hectares of land in the fiscal year (FY) 2075/76 yielding production of 3,557,934 tons of sugarcane. But by FY 2077/78, the cultivation area reduced by 7,271 hectares to 64,354 hectares, and the production reduced by 373,991 tons to 318,3943 tons. Meanwhile, the productivity of sugarcane decreased to 49.47 tons which was 49.6 tons in FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, although there is a lot of potential to get quality products with high productivity by expanding sugarcane cultivation commercially in the country, the production is decreasing due to internal problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prakash Kumar Sanjel, spokesperson of the ministry, said that the cost-price ratio decreased due to the low productivity of sugarcane in Nepal compared to other countries. Farmers also lack quality sugarcane varieties. Due to this, both productivity and production are decreasing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In recent times sugarcane market is also at risk, adding problems to the production. According to a statement released by the ministry, 13 large industries are currently purchasing sugarcane from the farmers in Nepal in big scale. There are many farmers who produce sugarcane on a small scale. Therefore, there are many sugarcane producers and limited number of buyers in Nepal. The government's role in market regulation is secondary. In such a situation, there is a high possibility that the limited number of buyers can exploit the small farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to this kind of effect, sugarcane farmers had to come to Kathmandu many times and stage street protests to get payment for the sugarcane they sold on credit to the industrialists. Even though the government has introduced programs such as fixing the minimum support price for sugarcane, promoting irrigation for sugarcane and promoting the development of seeds of superior quality in the country, the sugarcane farmers have started turning to other crops because of the failure in effective implementation of those initiatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The sugar produced in Nepal is not able to compete with the price of imported sugar in terms of production cost. According to a report published by the United States Department of Agriculture (USDA) in 2018, Nepal's neighboring countries including India and Pakistan provide high subsidies for sugar and sugarcane production, which has affected Nepal's sugar production.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16550', 'image' => '20230122031034_HB_KTM-IMG_0142.jpg', 'article_date' => '2023-01-22 15:09:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16808', 'article_category_id' => '1', 'title' => 'Imports from Birgunj Decline by 15 Percent', 'sub_title' => '', 'summary' => 'January 22: Import and export through the Birganj customs has declined in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: Import and export through the Birganj customs has declined in the first six months of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the statistics of Birgunj Customs, the import decreased by 15.3 percent and the export by 62.7 percent between mid-July to mid-January this fiscal year compared to the corresponding period of last year</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first 6 months of last fiscal year, goods worth Rs 348 billion were imported into Nepal through this customs point. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhan Bahadur Baruwal, Chief Customs Officer of Birgunj Customs, informed that goods worth Rs 295 billion have been imported during the same period this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Exports on the other hand decreased to Rs 20 billion from Rs 55 billion during the review period. In the previous years, the export of refined cooking oil from Nepal used to take place in a considerable amount when India imposed high customs duty on oil imports from other countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal had been exporting refined oil to India by importing crude oil from third countries. However, after India adopted a zero duty policy on oil imports, the export from Nepal reduced significantly as the exporters could no longer benefit from the customs duty gap. Products such as shoes, yarn, and juice are mainly exported through Birgunj Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16549', 'image' => '20230122025513_Birgunjjjjjjjjjj.jpg', 'article_date' => '2023-01-22 14:54:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16807', 'article_category_id' => '1', 'title' => 'Tamang Community Observing Sonam Lhosar Today', 'sub_title' => '', 'summary' => 'January 22: The Tamang community is observing Sonam Lhosar across the country today by organising various programmes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: The Tamang community is observing Sonam Lhosar across the country today by organising various programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival is taken as the commencement of the near year as per the Manju Shree calendar or Tibetan lunar calendar and today marks the beginning of the year 2859. </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"">As per the Tamang tradition, today they complete the ‘year of tiger’ and enter the ‘year of rabbit’. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival falls on the first day of the bright half in the month of Magh (mid-January to mid-February) according to the lunar calendar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a custom in the Taming community to count the year with association of symbols of 12 different animals: rat, cow, tiger, rabbit, dragon, snake, horse, sheep, monkey, bird, dog and boar. It starts with rat and ends on boar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to researcher Tika Sherpa, the counting of year with the name of animals suggest that the Tamang people are worshippers of nature. Various districts in the Bagmati Province are predominantly Tamang districts and this festival is observed in such districts with much fanfare. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Bouddhanath Area Development Trust has planned various programmes today to observe the festival. Likewise, Nepal Tamang Ghedung has decided to mark the festival by organising programmes in the Tundikhel for the next three days. Likewise, the Swoyambhu area in Kathmandu is also hosting programmes on the occasion. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16548', 'image' => '20230122125214_sonam.jpg', 'article_date' => '2023-01-22 12:51:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16806', 'article_category_id' => '1', 'title' => 'Black Box of Crashed Yeti Airlines Plane will be sent to France ', 'sub_title' => '', 'summary' => 'January 22: The black box of ATR-72 aircraft of Yeti Airlines that crashed in Pokhara on January 15 is being sent to France for technical analysis by the aircraft manufacturer. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: The black box of ATR-72 aircraft of Yeti Airlines that crashed in Pokhara on January 15 is being sent to France for technical analysis by the aircraft manufacturer. Joint Secretary at the Ministry of Culture, Tourism and Civil Aviation and member-secretary of Air Crash Investigation Committee Budhisagar Lamichhane told the state-owned national news agency RSS that the black box of the aircraft is being sent to France for an independent analysis of the accident. The expert team of the Air Crash Investigation Committee will also go to France along with the black box, added RSS. </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"">According to Lamichhane, the black box will be sent to the aircraft manufacturing company in France next week.</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 black box contains Cockpit Voice Recorder and Flight Data Recorder which will help in the effective investigation of the accident. </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 committee has so far conducted on-site monitoring of the accident site, collected necessary documents and discussed with experts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Yeti Airlines flight with call sign 9N-ANC (ATR-72-212) flying from Kathmandu to Pokhara crashed in the Seti River gorge, killing 71 out of 72 people including the crew members of the plane. The body of one more passenger traveling on the plane is yet to be found. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16547', 'image' => '20230122111105_Untitled.jpg', 'article_date' => '2023-01-22 11:10:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16805', 'article_category_id' => '274', 'title' => 'Contracted Trade Causes Revenue to Fall ', 'sub_title' => '', 'summary' => 'Birgunj Customs office, Nepal’s one of the major entry points for trade with India and other countries, has failed to collect revenue in accordance with target in the first six months of the current fiscal year.', 'content' => '<p> </p> <p><span style="font-size:18px">January 22: Birgunj Customs office, Nepal’s one of the major entry points for trade with India and other countries, has failed to collect revenue in accordance with target in the first six months of the current fiscal year.</span></p> <p><span style="font-size:18px">The Customs office has collected only 62.4 per cent of its total revenue target. <br /> According to the customs office, the Department of Customs had set the target to amass a revenue of Rs 122.77 billion during the first six months of the current fiscal year. </span></p> <p><span style="font-size:18px">The customs office, however, has collected only Rs 76.54 billion during review period. <br /> Customs officials say that the government’s policy to control the trade following the depletion of foreign exchange reserve had caused the revenue to shrink. </span></p> <p><span style="font-size:18px">Import of petroleum products and vehicles contributes largely to the revenue from Birgunj Customs office. Ban on the import of vehicles for a long time led to the revenue to drop”, said Birgunj Customs Office Chief Dhan Bahadur Baruwal.</span></p> <p><span style="font-size:18px">The government that started tightening import of goods from the second quarter of the last fiscal year had imposed ban on the import of vehicles, expensive mobile phones, and liquor from the fourth quarter of the last fiscal.</span></p> <p><span style="font-size:18px">The government has recently removed the provision of cash margin for opening letter of credit after it removed the ban placed on the import of vehicles and other expensive goods.</span></p> <p><span style="font-size:18px">Despite the opening of the import, auto importers have not brought vehicles citing lack of demand and banks not providing loan for the same.</span></p> <p><span style="font-size:18px">Auto importers are hardly importing four to five vehicles these days against 30 to 35 on a daily basis in the past. <br /> “More than 2000 vehicles have gathered at the yard of Integrated Check Post,” according to Nepal Intermodel Transport Development Board Birgunj Office Chief Kamal Gyawali.</span></p> <p><span style="font-size:18px">Birgunj Customs collected only Rs 26 billion of customs duty against its target of 48 billion. Likewise, the customs point collected Rs 34 billion in value added tax despite its target to collect Rs 44 billion. </span></p> <p><span style="font-size:18px">The office collected Rs 5 billion of excise duty against its target to collect Rs 12 billion. Customs officials say that ban on the import of vehicles led the office to miss its target.</span></p> <p><span style="font-size:18px">Birgunj Customs collected infrastructure tax of Rs 6 billion from the petroleum products against its target to collect 9 billion during the same period. </span></p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16546', 'image' => '20230122061641_collage (33).jpg', 'article_date' => '2023-01-22 06:12:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16804', 'article_category_id' => '1', 'title' => 'EU's On-Site Evaluation Team Postpones its Plan to Visit Nepal', 'sub_title' => '', 'summary' => 'January 21: The European Union (EU) has put off its plan of undertaking an on-site evaluation of Nepal’s aviation sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The European Union (EU) has put off its plan of undertaking an on-site evaluation of Nepal’s aviation sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Civil Aviation Authority of Nepal (CAAN) said that the planned visit of EU's technical team has been postponed for the time being. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a joint statement on Friday, Director-General of CAAN Pradeep Adhikari and EU's Ambassador to Nepal Nona Deprez said that the scheduled Nepal visit of the on-site evaluation team has been put off for now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to CAAN Spokesperson Jagannath Niraula, EU's Nepal visit has been put off on mutual agreement as the human resource of the CAAN has to be deployed to investigate the crash of the Yeti Airlines plane in Pokhara on January 15. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on October, a team of the EU had undertaken a study of the aviation safety of Nepal and drew a conclusion that notable progress was made in aviation safety. The team had returned with a decision to send another team to carry out an on-site evaluation of the aviation safety of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the statement, the EU has clarified that it would continue its support to Nepal for aviation safety. EU had blacklisted Nepal in its air safety list since 2013 citing safety concners. Nepal has made several efforts to get itself removed from the blacklist. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The International Civil Aviation Organization (ICAO)'s recent audit has assessed Nepal's aviation safety compliance rate to be 70.1 percent, which is above the global average. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-21', 'modified' => '2023-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '16545', 'image' => '20230121051057_european-union.jpg', 'article_date' => '2023-01-21 17:10:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16803', 'article_category_id' => '1', 'title' => 'Government Ready to Revise Foreign Employment Act, says Prime Minister Dahal ', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said the government is ready to revise the Foreign Employment Act to make the foreign employment business fair and transparent. ', 'content' => '<p><br /> <span style="font-size:20px">January 20: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said the government is ready to revise the Foreign Employment Act to make the foreign employment business fair and transparent. </span></p> <p><span style="font-size:20px">Addressing the 29th Annual General Assembly(AGM) of Nepal Association of Foreign Employment Agencies (NAFEA) organised in Kathmandu on Friday, Prime Minister Dahal reiterated that he was ready to make business of foreign employment transparent and respectful after consultation with the Labour Minister and ministry’s Secretary.</span></p> <p><span style="font-size:20px">Dahal sought assistance of entrepreneurs involved in the business of foreign employment to end malpractices prevalent in the domain of foreign employment. </span></p> <p><span style="font-size:20px">“The government is making headway in making the foreign employment transparent and effective and in stopping the wrong practices widespread in the field”, Dahal added.</span></p> <p><span style="font-size:20px">Dahal stated that the government was prepared to forge friendly and cordial relationship with entrepreneurs and industrialists to usher in economic development and prosperity in the country. </span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16544', 'image' => '20230120054801_collage (73).jpg', 'article_date' => '2023-01-20 17:44:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '16802', 'article_category_id' => '1', 'title' => 'Electricity Leakage Declines ', 'sub_title' => '', 'summary' => 'Nepal Electricity Authority (NEA) has achieved a remarkable success in controlling electricity leakage. The NEA has reduced the power leakage to 7.49 per cent in the distribution side in the first five months of the current fiscal year, according to the Nepal Electricity Authority.', 'content' => '<p><span style="font-size:16px">January 20: Nepal Electricity Authority (NEA) has achieved a remarkable success in controlling electricity leakage.<br /> The NEA has reduced the power leakage to 7.49 per cent in the distribution side in the first five months of the current fiscal year, according to the Nepal Electricity Authority.</span></p> <p><span style="font-size:16px">Power leakage was 9.23 per cent in the distribution side in the first five months of the last fiscal year, which fell by 1.74 per cent during the same period this fiscal. </span></p> <p><span style="font-size:16px">By the end of the fifth month of the current fiscal year, the distribution system has received 4.147 billion units of electricity. Out of it, 3.836 billion units of electricity were sold, while 31.779 million units of electricity leaked. </span></p> <p><span style="font-size:16px">Power leakage on transmission side stands at 4.56 percent till the end of the fifth month of the same period. Power leakage of the total system including distribution and transmission side stands at 12.5 per cent. </span></p> <p><span style="font-size:16px">Electricity leakage of the entire system was 15.38 per cent till 15 July, 2022. <br /> The largest part of the power leakage in the system is on the distribution side. The Authority has set a target of reducing the electricity leakage of the overall system to 14 percent and the distribution leakage to 8.5 percent in the current fiscal year.</span></p> <p><span style="font-size:16px">The power leakage on distribution side that was 22 per cent around seven years ago has come down to 7.49 per cent , which is a great achievement, said Executive Director Kulman Ghising of the Nepal Electricity Authority.</span></p> <p><span style="font-size:16px">Ghising said that NEA had deployed its staffers to reduce the leakage below its target by making steps launched to control technical and non-technical leakage effective. </span></p> <p><span style="font-size:16px">“During this period, new substations have been constructed, the existing substations have been upgraded, electricity consumption has increased in the industrial sector, meter reading has been made effective, and the leakages have decreased due to the accumulated unit billing of customers," Ghising said. </span></p> <p><span style="font-size:16px">Regular monitoring and action against the power theft, strengthening overloaded substations and feeder lines, construction of new substations, and replacement of conductors have led to the fall of power leakage , said NEA Executive Director Ghising. </span></p> <p><span style="font-size:16px">Increasing the capacity of substations, adding conductors, changing overloaded transformers, and encouraging the use of three-phase meters have caused the leakage to subside. </span></p> <p><span style="font-size:16px">The NEA has launched various measures as campaign to control the power leakage. The NEA has stepped up efforts to control power theft and collect arrears and adopted strict actions against those who steal power, replace and bypass meters. </span></p> <p><span style="font-size:16px">Out of the distribution centers under the NEA’s seven regional offices and two provincial division offices, Madhesh Province Regional Office, Janakpur has the highest electricity leakage. The total electricity leakage of 23 distribution centers under Janakpur Regional Office is 12.80 percent till mid-December.</span><br /> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16543', 'image' => '20230120050800_collage (71).jpg', 'article_date' => '2023-01-20 17:00:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '16801', 'article_category_id' => '1', 'title' => 'NRB Removes Cash Margin for LC', 'sub_title' => '', 'summary' => 'January 20: Nepal Rastra Bank (NRB) has removed the requirement to have 50 to 100 per cent cash margin for opening letter of credit (LC) to import luxury goods. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: Nepal Rastra Bank (NRB) has removed the requirement to have 50 to 100 per cent cash margin for opening letter of credit (LC) to import luxury goods. After the improvement in the foreign exchange reserves, the NRB on Thursday amended the Integrated Circular 2078 to remove the requirement of cash margin for the imports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">From now onwards, the importers need to maintain only the cash margin specified by the banks for opening LC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks take a cash margin of up to 5 percent while opening import LCs considering the risk factor. NRB has also removed the ban on the payment for imports through Demand Draft (DD), and Telegraphic Transfer (TT). </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Importers can now pay up to USD 35,000 through TT for the imports from third countries while they can pay up to Rs 300 million through draft and TT for imports from India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB had fixed the cash margin of 50 to 100 percent earlier to discourage import of luxury goods but gradually eased the restrictions as the situation improved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The ban imposed by the government on the import of luxury goods has already been lifted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank was under pressure from businessmen to remove the provision of cash margin. The International Monetary Fund (IMF) also pressured NRB to remove the provision of cash margin for imports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the report of NRB, the foreign exchange reserves were equal to Rs 1215 billion by the end of last fiscal year, which increased by 6.3 per cent and reached Rs 1290 by billion mid-November.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The foreign exchange reserves held by the banks as of mid-November can sustain imports for ten months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, Nepal Rastra Bank injected liquidity of Rs 3.8 billion in the market through repo on Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16542', 'image' => '20230120033746_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-01-20 15:36:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16799', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Unhappy with the Support Price Fixed by the Government', 'sub_title' => '', 'summary' => 'January 20: The sugarcane farmers have expressed their dissatisfaction after the government set the support price of sugarcane less than the cost incurred this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The sugarcane farmers have expressed their dissatisfaction after the government set the support price of sugarcane less than the cost incurred this year. Farmers are complaining that even the cost of sugarcane plantation cannot be collected because the support price of sugarcane is less that the production cost while the cost of transportation and wages of laborers have increased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government set the minimum support price of sugarcane at Rs 540 per quintal for the current fiscal year, including the production cost, transportation fee and profit. In addition, the government has announced a subsidy of Rs 70 per quintal for the farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the farmers, the minimum support price set by the government is only Rs 20 more than last year while the transportation cost has doubled. Rakesh Mishra, coordinator of Sugarcane Farmers Struggle Committee Sarlahi, said that sugarcane transportation cost and labor charge have doubled in one year, making the cost of sugarcane more than Rs 550 per quintal. Farmers get a profit of only 60 rupees per quintal from sugarcane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Mishra questioned the government, “How much effort does it take to produce one quintal of sugarcane throughout the year? Why doesn't the government increase the price of our hard work? If the profit is only Rs 60 per quintal after working hard throughout the year, why did the farmers have to cultivate sugarcane?”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He alleged that the government's intention is to demoralize the farmers and destroy the domestic sugar industry and production. He said, “Until the tradition of fixing the price inside the Singha Durbar without the farmers’ knowledge comes to an end, the farmers will not get a fair price for their produce.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kapil Muni Mainali, president of the Sugarcane Producers' Association said that before the government fixed the price, the association had suggested setting the purchase price of sugarcane at Rs 705 per quintal. He accused the government of doing great injustice to the farmers by arbitrarily fixing the price of sugarcane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Ministry of Agriculture on the other hand said that the purchase price is determined only after studying all aspects of farmers' efforts, costs and transportation expenses in a scientific manner. Due to the fact that the government does not fix the price in the interests of the farmers, the industrialists do not pay the money to the farmers on time. The attraction of the farmers towards sugarcane farming is decreasing recently due to the reasons like lack of chemical fertilizers and the non-availability of sugarcane seeds of high production quality in addition to not getting appropriate price for the produce.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16540', 'image' => '20230120033638_sugarcane.jpg', 'article_date' => '2023-01-20 15:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16798', 'article_category_id' => '1', 'title' => 'Khumbu Welcomes Tourists in Off-Season ', 'sub_title' => '', 'summary' => 'January 20: The Khumbu region in Solukhumbu district has received a good number of tourists even during the off-season this year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 20: The Khumbu region in Solukhumbu district has received a good number of tourists even during the off-season this year. The winter period is considered as an off-season for tourism in the Khumbu area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the past three days, a total of 95 people visited the Khumbu region, according to a report of the Sagarmatha National Park. Of them, 68 tourists were foreigners, three from SAARC countries, two Nepalis, 18 porters and four tour guides, Chief Conservation Officer of the National Park, Bhumiraj Upadhyay said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upadhyay added that a total of Rs 215,150 revenue was collected from them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, most of the hotels in the Khumbu region are closed due to winter and off-season for tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tourism entrepreneur Lama Kaji Shrestha said that the visitors have arrived here as the weather here is clear these days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As there is no snowfall this winter, the trekking routes here are in good condition. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16539', 'image' => '20230120025713_258482_218714068152324_7011012_o.jpg', 'article_date' => '2023-01-20 14:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16797', 'article_category_id' => '1', 'title' => '24 Flour Mills to get 30,000 Metric Tons of Wheat from India', 'sub_title' => '', 'summary' => 'January 20: The Ministry of Industry, Commerce and Supplies has requested the Indian Embassy in Kathmandu to provide 30,489 metric tons of wheat to 24 flour mills operating in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The Ministry of Industry, Commerce and Supplies has requested the Indian Embassy in Kathmandu to provide 30,489 metric tons of wheat to 24 flour mills operating in Nepal. India has pledged to supply 50,000 metric tons of wheat to Nepal on needs basis. The ministry has allocated quotas for the 24 flour mills based on the recommendation of Nepal Flour Mills Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the Indian Embassy sends the letter to India’s Ministry of Commerce, Nepali flour mill operators will be able to buy wheat from the Indian traders of their contact.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Spokesman at the Ministry of Industry, Commerce and Supplies Dr Narayan Regmi informed that the quota for wheat imports which will be completed by March and the businessmen will be able to import the remaining quantity of wheat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">India banned wheat exports 10 months ago citing the Russia-Ukraine war and the decline in production. This had affected the Nepali industries that are chiefly dependent on India for wheat supplies. India is one of the largest wheat producers in the world. The price of fine flour in Nepal, which was Rs 50 per kg before India's export ban, has gone up to Rs 70. Similarly, the price of Rs 55 per kg of common flour has risen to Rs 76, and semolina which used to cost Rs 60 per kg now costs Rs 80 while the price of bran, which used to be sold at Rs 38 per kg has now increased to Rs 46. Industrialists say that the price of all products will be reduced by 15 percent if wheat supply from India resumes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the price of wheat in Nepal is Rs 52 per kg, and that of fine flour is Rs 70, common flour Rs 76, semolina Rs 80 and bran Rs 46. This price does not include VAT. The price of wheat in India is INR 28.50, fine flour INR 32, common flour INR 34, and bran INR 28 per kg.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen say that Nepal's flour mills need 1 million metric tons of wheat annually. Kumud Dugad, president of the Nepal Flour Mills Association, said 40 percent of the demand is fulfilled by Nepal's domestic production, while the remaining 60 percent should be imported from India. He said that the production of more than two dozen industries has stopped due to the short-supply of wheat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Secretary of the association, Bikash Begwani said that after the arrival of wheat from India, the price here will be cheaper by 15 percent and the price of flour will be cheaper by Rs 10 per kg. Begwani said that the government should request an additional 300,000 tons of wheat from India as the quota of wheat arriving in the first batch will last for just 2 weeks. He said that 300,000 tons of wheat will be sufficient till April when domestic wheat will be available in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">India gave permission for the export of 50,000 tons of wheat to Nepal following a request from the then Minister for Industry, Commerce and Supplies Dilendra Prasad Badu. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16538', 'image' => '20230120013206_wheatttttt.jpg', 'article_date' => '2023-01-20 13:31:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16796', 'article_category_id' => '1', 'title' => 'Snowfall in Humla ', 'sub_title' => '', 'summary' => 'January 20: Humla district witnessed a snowfall from last night, the first during this winter. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 20: Humla district witnessed a snowfall from last night, the first during this winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the previous years, the district used to receive snowfall in December. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals in the district headquarters Simkot have been enjoying the snowfall that occurred after a long gap. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the heavy snowfall has affected the normal life in the northern belt of the district. Local residents said that normal life has come to a standstill at Limi village in Namkha Rural Municipality-6 due to the heavy snowfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villages including Limi, Muchu, Khagalgaun, Til and Jang have received heavy snowfall, affecting the normal life and locals’ mobility there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meantime, the farmers are hopeful of good production of millet, buckwheat and other winter crops. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16537', 'image' => '20230120114200_DB_Simkot-2.jpg', 'article_date' => '2023-01-20 11:41:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16795', 'article_category_id' => '1', 'title' => 'National Startup Enterprise Policy to be Unveiled within this Fiscal Year', 'sub_title' => '', 'summary' => 'January 20: The Ministry of Industry, Commerce and Supplies is preparing to unveil the 'National Startup Enterprise Policy' within the current fiscacl year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The Ministry of Industry, Commerce and Supplies is preparing to unveil the 'National Startup Enterprise Policy' within the current fiscacl year. The policy has been under discussion for a long time. The ministry is currently discussing the draft of the policy with various stakeholders, including the Ministry of Finance, the National Planning Commission, the Federation of Nepalese Chamber of Commerce, Confederation of Nepalese Industries among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Baburam Gautam, joint secretary of the Ministry of Industry, Commerce and Supplies, said that the 'National Startup Enterprise Policy 2079' is under internal discussion. Gautam said that the draft is currently being discussed at various stages in the ministry, and it is ready to be released in this fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there is no other provision regarding the registration of startup enterprises and businesses, startups are placed under micro, domestic and small industries, according to the existing laws.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Entrepreneur Ranjit Acharya, who is representing NYEF of the Federation of Nepalese Industries and Commerce, said he has been present at the ministry for the past 13 months and is working like an employee to draft the policy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Acharya said that since the startup policy is now also in the interest of the government, they are trying to implement this policy latest by a month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“Before making the startup policy, we studied the policies of various countries, including India, China, and America. While making the policy, our main priority with the government is to encourage new entrepreneurs to create a startup-friendly environment, to include in the policy topics such as giving income tax exemptions and providing subsidized loans,'' he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Acharya informed that a comprehensive discussion on startup policy will soon be held under the coordination of the Federation of Nepalese Chamber of Commerce and Industry. After the National Startup Enterprise Policy 2079 is approved by the Ministry of Law and implemented, the startups will operate according to the new policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The current law of Nepal defines a startup as a venture under seven years of registration, operating professionally for skill development using innovative approach and creative thinking in order to develop, produce, and distribute goods and services. A startup should improve the existing production method through the use of modern systems and technology to remove the existing problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that this policy, which has been gathering dust on the table of government for a long time, will be implemented soon.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The draft proses certain criteria for a new company to be considered as a startup venture. They include:</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">1. The number of full-time workers in the enterprise is not more than 10</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">2. The total profit of the enterprise from the annual income should not exceed Rs 5 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">3. Fixed capital (excluding the value of the real estate) should not exceed Rs 20 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">4. Paid-up capital should not exceed Rs 3 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">5. The enterprise must not be operating for more than seven years</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">6. The enterprise should have two or more founders</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">7. Must have innovative approach for solving problems</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">8. Use of information technology to produce and distribute goods or services in an efficient, accessible and reliable manner or to expand the existing work in a new way</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">9. At least 5 per cent of the company's annual expenses are spent on product development, market development, and research and development</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">10. A patent or design or software of the intellectual property of the enterprise is registered or the patent or design or software is eligible for registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Enterprises that meets at least five conditions, including two from points 7 to 10, can start a business as a startup</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businesses not considered start-up ventures (proposed)</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Not registered in Nepal according to existing laws</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- The act of importing goods or services from abroad without using information technology and without using the latest technology and research</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Blacklisted by Credit Information Center or operated by such person</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- No permanent account number for tax purposes</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- As a holding company, an enterprise classified as a medium or large industry according to the Industrial Business Act, 2076</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Other matters prohibited by prevailing laws</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16536', 'image' => '20230120102625_startup.jpg', 'article_date' => '2023-01-20 10:25:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16810', 'article_category_id' => '1', 'title' => 'Banks' Profit Affected by Bad Loans', 'sub_title' => '', 'summary' => 'January 22: The increase in bad loans has affected the profitability of banks in the second quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: The increase in bad loans has affected the profitability of banks in the second quarter<strong> </strong>of the current fiscal year. Likewise, the banks facing liquidity crunch have also been affected due to the Covid-19 pandemic and the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As of January 21, a total of 20 banks that published their unaudited financial statements have earned a net profit of Rs 29.87 billion. It is only 1.85 per cent more than the profit earned during the corresponding period of the last fiscal year when the banks made a profit of Rs 29.33 billion. During the last fiscal year, the profit of the banks increased by 10 per cent compared to the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Investment and Mega Bank merged with each other to start integrated business as Nepal Investment Mega Bank while Kumari Bank and NCC Bank which merged with each other are yet to publish their financial statements. Among the banks that have published their financial statements, the profit of a dozen banks has increased compared to last year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The profit of Everest Bank has increased the highest by 89.29 per cent. The profit of eight banks has decreased compared to last fiscal year. The net profit of the Agriculture Development Bank has decreased by 109 per cent resulting in a loss of Rs 128.9 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Global IME Bank’s profit increased by 4.47 per cent, while the profit of Bank of Kathmandu before the merger decreased by 4.37 per cent. BoK’s profit of Rs 452.5 million has been adjusted with the profit of the current fiscal year of Global IME Bank. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '16551', 'image' => '20230122042344_Banks.jpg', 'article_date' => '2023-01-22 16:23:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16809', 'article_category_id' => '1', 'title' => 'Sugarcane Production Declining in Nepal', 'sub_title' => '', 'summary' => 'January 22: The production of Sugarcane, which is the main cash crop of Nepal, is decreasing in recent times. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: The production of Sugarcane, which is the main cash crop of Nepal, is decreasing in recent times. Government data shows that sugarcane production decreased by more than 305,000 metric tons in the last three years. Stakeholders say that production is decreasing due to increasing cost of production, risky market, low competitiveness and problems in getting the amount of sugarcane sold on credit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data provided by the Ministry of Agriculture and Livestock Development, sugarcane cultivation was done on 71,625 hectares of land in the fiscal year (FY) 2075/76 yielding production of 3,557,934 tons of sugarcane. But by FY 2077/78, the cultivation area reduced by 7,271 hectares to 64,354 hectares, and the production reduced by 373,991 tons to 318,3943 tons. Meanwhile, the productivity of sugarcane decreased to 49.47 tons which was 49.6 tons in FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, although there is a lot of potential to get quality products with high productivity by expanding sugarcane cultivation commercially in the country, the production is decreasing due to internal problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prakash Kumar Sanjel, spokesperson of the ministry, said that the cost-price ratio decreased due to the low productivity of sugarcane in Nepal compared to other countries. Farmers also lack quality sugarcane varieties. Due to this, both productivity and production are decreasing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In recent times sugarcane market is also at risk, adding problems to the production. According to a statement released by the ministry, 13 large industries are currently purchasing sugarcane from the farmers in Nepal in big scale. There are many farmers who produce sugarcane on a small scale. Therefore, there are many sugarcane producers and limited number of buyers in Nepal. The government's role in market regulation is secondary. In such a situation, there is a high possibility that the limited number of buyers can exploit the small farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to this kind of effect, sugarcane farmers had to come to Kathmandu many times and stage street protests to get payment for the sugarcane they sold on credit to the industrialists. Even though the government has introduced programs such as fixing the minimum support price for sugarcane, promoting irrigation for sugarcane and promoting the development of seeds of superior quality in the country, the sugarcane farmers have started turning to other crops because of the failure in effective implementation of those initiatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The sugar produced in Nepal is not able to compete with the price of imported sugar in terms of production cost. According to a report published by the United States Department of Agriculture (USDA) in 2018, Nepal's neighboring countries including India and Pakistan provide high subsidies for sugar and sugarcane production, which has affected Nepal's sugar production.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16550', 'image' => '20230122031034_HB_KTM-IMG_0142.jpg', 'article_date' => '2023-01-22 15:09:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16808', 'article_category_id' => '1', 'title' => 'Imports from Birgunj Decline by 15 Percent', 'sub_title' => '', 'summary' => 'January 22: Import and export through the Birganj customs has declined in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 22: Import and export through the Birganj customs has declined in the first six months of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the statistics of Birgunj Customs, the import decreased by 15.3 percent and the export by 62.7 percent between mid-July to mid-January this fiscal year compared to the corresponding period of last year</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first 6 months of last fiscal year, goods worth Rs 348 billion were imported into Nepal through this customs point. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dhan Bahadur Baruwal, Chief Customs Officer of Birgunj Customs, informed that goods worth Rs 295 billion have been imported during the same period this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Exports on the other hand decreased to Rs 20 billion from Rs 55 billion during the review period. In the previous years, the export of refined cooking oil from Nepal used to take place in a considerable amount when India imposed high customs duty on oil imports from other countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal had been exporting refined oil to India by importing crude oil from third countries. However, after India adopted a zero duty policy on oil imports, the export from Nepal reduced significantly as the exporters could no longer benefit from the customs duty gap. Products such as shoes, yarn, and juice are mainly exported through Birgunj Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16549', 'image' => '20230122025513_Birgunjjjjjjjjjj.jpg', 'article_date' => '2023-01-22 14:54:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16807', 'article_category_id' => '1', 'title' => 'Tamang Community Observing Sonam Lhosar Today', 'sub_title' => '', 'summary' => 'January 22: The Tamang community is observing Sonam Lhosar across the country today by organising various programmes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: The Tamang community is observing Sonam Lhosar across the country today by organising various programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival is taken as the commencement of the near year as per the Manju Shree calendar or Tibetan lunar calendar and today marks the beginning of the year 2859. </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"">As per the Tamang tradition, today they complete the ‘year of tiger’ and enter the ‘year of rabbit’. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The festival falls on the first day of the bright half in the month of Magh (mid-January to mid-February) according to the lunar calendar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a custom in the Taming community to count the year with association of symbols of 12 different animals: rat, cow, tiger, rabbit, dragon, snake, horse, sheep, monkey, bird, dog and boar. It starts with rat and ends on boar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to researcher Tika Sherpa, the counting of year with the name of animals suggest that the Tamang people are worshippers of nature. Various districts in the Bagmati Province are predominantly Tamang districts and this festival is observed in such districts with much fanfare. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Bouddhanath Area Development Trust has planned various programmes today to observe the festival. Likewise, Nepal Tamang Ghedung has decided to mark the festival by organising programmes in the Tundikhel for the next three days. Likewise, the Swoyambhu area in Kathmandu is also hosting programmes on the occasion. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16548', 'image' => '20230122125214_sonam.jpg', 'article_date' => '2023-01-22 12:51:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16806', 'article_category_id' => '1', 'title' => 'Black Box of Crashed Yeti Airlines Plane will be sent to France ', 'sub_title' => '', 'summary' => 'January 22: The black box of ATR-72 aircraft of Yeti Airlines that crashed in Pokhara on January 15 is being sent to France for technical analysis by the aircraft manufacturer. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 22: The black box of ATR-72 aircraft of Yeti Airlines that crashed in Pokhara on January 15 is being sent to France for technical analysis by the aircraft manufacturer. Joint Secretary at the Ministry of Culture, Tourism and Civil Aviation and member-secretary of Air Crash Investigation Committee Budhisagar Lamichhane told the state-owned national news agency RSS that the black box of the aircraft is being sent to France for an independent analysis of the accident. The expert team of the Air Crash Investigation Committee will also go to France along with the black box, added RSS. </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"">According to Lamichhane, the black box will be sent to the aircraft manufacturing company in France next week.</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 black box contains Cockpit Voice Recorder and Flight Data Recorder which will help in the effective investigation of the accident. </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 committee has so far conducted on-site monitoring of the accident site, collected necessary documents and discussed with experts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Yeti Airlines flight with call sign 9N-ANC (ATR-72-212) flying from Kathmandu to Pokhara crashed in the Seti River gorge, killing 71 out of 72 people including the crew members of the plane. The body of one more passenger traveling on the plane is yet to be found. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16547', 'image' => '20230122111105_Untitled.jpg', 'article_date' => '2023-01-22 11:10:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16805', 'article_category_id' => '274', 'title' => 'Contracted Trade Causes Revenue to Fall ', 'sub_title' => '', 'summary' => 'Birgunj Customs office, Nepal’s one of the major entry points for trade with India and other countries, has failed to collect revenue in accordance with target in the first six months of the current fiscal year.', 'content' => '<p> </p> <p><span style="font-size:18px">January 22: Birgunj Customs office, Nepal’s one of the major entry points for trade with India and other countries, has failed to collect revenue in accordance with target in the first six months of the current fiscal year.</span></p> <p><span style="font-size:18px">The Customs office has collected only 62.4 per cent of its total revenue target. <br /> According to the customs office, the Department of Customs had set the target to amass a revenue of Rs 122.77 billion during the first six months of the current fiscal year. </span></p> <p><span style="font-size:18px">The customs office, however, has collected only Rs 76.54 billion during review period. <br /> Customs officials say that the government’s policy to control the trade following the depletion of foreign exchange reserve had caused the revenue to shrink. </span></p> <p><span style="font-size:18px">Import of petroleum products and vehicles contributes largely to the revenue from Birgunj Customs office. Ban on the import of vehicles for a long time led to the revenue to drop”, said Birgunj Customs Office Chief Dhan Bahadur Baruwal.</span></p> <p><span style="font-size:18px">The government that started tightening import of goods from the second quarter of the last fiscal year had imposed ban on the import of vehicles, expensive mobile phones, and liquor from the fourth quarter of the last fiscal.</span></p> <p><span style="font-size:18px">The government has recently removed the provision of cash margin for opening letter of credit after it removed the ban placed on the import of vehicles and other expensive goods.</span></p> <p><span style="font-size:18px">Despite the opening of the import, auto importers have not brought vehicles citing lack of demand and banks not providing loan for the same.</span></p> <p><span style="font-size:18px">Auto importers are hardly importing four to five vehicles these days against 30 to 35 on a daily basis in the past. <br /> “More than 2000 vehicles have gathered at the yard of Integrated Check Post,” according to Nepal Intermodel Transport Development Board Birgunj Office Chief Kamal Gyawali.</span></p> <p><span style="font-size:18px">Birgunj Customs collected only Rs 26 billion of customs duty against its target of 48 billion. Likewise, the customs point collected Rs 34 billion in value added tax despite its target to collect Rs 44 billion. </span></p> <p><span style="font-size:18px">The office collected Rs 5 billion of excise duty against its target to collect Rs 12 billion. Customs officials say that ban on the import of vehicles led the office to miss its target.</span></p> <p><span style="font-size:18px">Birgunj Customs collected infrastructure tax of Rs 6 billion from the petroleum products against its target to collect 9 billion during the same period. </span></p> ', 'published' => true, 'created' => '2023-01-22', 'modified' => '2023-01-22', 'keywords' => '', 'description' => '', 'sortorder' => '16546', 'image' => '20230122061641_collage (33).jpg', 'article_date' => '2023-01-22 06:12:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16804', 'article_category_id' => '1', 'title' => 'EU's On-Site Evaluation Team Postpones its Plan to Visit Nepal', 'sub_title' => '', 'summary' => 'January 21: The European Union (EU) has put off its plan of undertaking an on-site evaluation of Nepal’s aviation sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The European Union (EU) has put off its plan of undertaking an on-site evaluation of Nepal’s aviation sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Civil Aviation Authority of Nepal (CAAN) said that the planned visit of EU's technical team has been postponed for the time being. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a joint statement on Friday, Director-General of CAAN Pradeep Adhikari and EU's Ambassador to Nepal Nona Deprez said that the scheduled Nepal visit of the on-site evaluation team has been put off for now. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to CAAN Spokesperson Jagannath Niraula, EU's Nepal visit has been put off on mutual agreement as the human resource of the CAAN has to be deployed to investigate the crash of the Yeti Airlines plane in Pokhara on January 15. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on October, a team of the EU had undertaken a study of the aviation safety of Nepal and drew a conclusion that notable progress was made in aviation safety. The team had returned with a decision to send another team to carry out an on-site evaluation of the aviation safety of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the statement, the EU has clarified that it would continue its support to Nepal for aviation safety. EU had blacklisted Nepal in its air safety list since 2013 citing safety concners. Nepal has made several efforts to get itself removed from the blacklist. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The International Civil Aviation Organization (ICAO)'s recent audit has assessed Nepal's aviation safety compliance rate to be 70.1 percent, which is above the global average. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-21', 'modified' => '2023-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '16545', 'image' => '20230121051057_european-union.jpg', 'article_date' => '2023-01-21 17:10:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16803', 'article_category_id' => '1', 'title' => 'Government Ready to Revise Foreign Employment Act, says Prime Minister Dahal ', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said the government is ready to revise the Foreign Employment Act to make the foreign employment business fair and transparent. ', 'content' => '<p><br /> <span style="font-size:20px">January 20: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said the government is ready to revise the Foreign Employment Act to make the foreign employment business fair and transparent. </span></p> <p><span style="font-size:20px">Addressing the 29th Annual General Assembly(AGM) of Nepal Association of Foreign Employment Agencies (NAFEA) organised in Kathmandu on Friday, Prime Minister Dahal reiterated that he was ready to make business of foreign employment transparent and respectful after consultation with the Labour Minister and ministry’s Secretary.</span></p> <p><span style="font-size:20px">Dahal sought assistance of entrepreneurs involved in the business of foreign employment to end malpractices prevalent in the domain of foreign employment. </span></p> <p><span style="font-size:20px">“The government is making headway in making the foreign employment transparent and effective and in stopping the wrong practices widespread in the field”, Dahal added.</span></p> <p><span style="font-size:20px">Dahal stated that the government was prepared to forge friendly and cordial relationship with entrepreneurs and industrialists to usher in economic development and prosperity in the country. </span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16544', 'image' => '20230120054801_collage (73).jpg', 'article_date' => '2023-01-20 17:44:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '16802', 'article_category_id' => '1', 'title' => 'Electricity Leakage Declines ', 'sub_title' => '', 'summary' => 'Nepal Electricity Authority (NEA) has achieved a remarkable success in controlling electricity leakage. The NEA has reduced the power leakage to 7.49 per cent in the distribution side in the first five months of the current fiscal year, according to the Nepal Electricity Authority.', 'content' => '<p><span style="font-size:16px">January 20: Nepal Electricity Authority (NEA) has achieved a remarkable success in controlling electricity leakage.<br /> The NEA has reduced the power leakage to 7.49 per cent in the distribution side in the first five months of the current fiscal year, according to the Nepal Electricity Authority.</span></p> <p><span style="font-size:16px">Power leakage was 9.23 per cent in the distribution side in the first five months of the last fiscal year, which fell by 1.74 per cent during the same period this fiscal. </span></p> <p><span style="font-size:16px">By the end of the fifth month of the current fiscal year, the distribution system has received 4.147 billion units of electricity. Out of it, 3.836 billion units of electricity were sold, while 31.779 million units of electricity leaked. </span></p> <p><span style="font-size:16px">Power leakage on transmission side stands at 4.56 percent till the end of the fifth month of the same period. Power leakage of the total system including distribution and transmission side stands at 12.5 per cent. </span></p> <p><span style="font-size:16px">Electricity leakage of the entire system was 15.38 per cent till 15 July, 2022. <br /> The largest part of the power leakage in the system is on the distribution side. The Authority has set a target of reducing the electricity leakage of the overall system to 14 percent and the distribution leakage to 8.5 percent in the current fiscal year.</span></p> <p><span style="font-size:16px">The power leakage on distribution side that was 22 per cent around seven years ago has come down to 7.49 per cent , which is a great achievement, said Executive Director Kulman Ghising of the Nepal Electricity Authority.</span></p> <p><span style="font-size:16px">Ghising said that NEA had deployed its staffers to reduce the leakage below its target by making steps launched to control technical and non-technical leakage effective. </span></p> <p><span style="font-size:16px">“During this period, new substations have been constructed, the existing substations have been upgraded, electricity consumption has increased in the industrial sector, meter reading has been made effective, and the leakages have decreased due to the accumulated unit billing of customers," Ghising said. </span></p> <p><span style="font-size:16px">Regular monitoring and action against the power theft, strengthening overloaded substations and feeder lines, construction of new substations, and replacement of conductors have led to the fall of power leakage , said NEA Executive Director Ghising. </span></p> <p><span style="font-size:16px">Increasing the capacity of substations, adding conductors, changing overloaded transformers, and encouraging the use of three-phase meters have caused the leakage to subside. </span></p> <p><span style="font-size:16px">The NEA has launched various measures as campaign to control the power leakage. The NEA has stepped up efforts to control power theft and collect arrears and adopted strict actions against those who steal power, replace and bypass meters. </span></p> <p><span style="font-size:16px">Out of the distribution centers under the NEA’s seven regional offices and two provincial division offices, Madhesh Province Regional Office, Janakpur has the highest electricity leakage. The total electricity leakage of 23 distribution centers under Janakpur Regional Office is 12.80 percent till mid-December.</span><br /> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16543', 'image' => '20230120050800_collage (71).jpg', 'article_date' => '2023-01-20 17:00:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '16801', 'article_category_id' => '1', 'title' => 'NRB Removes Cash Margin for LC', 'sub_title' => '', 'summary' => 'January 20: Nepal Rastra Bank (NRB) has removed the requirement to have 50 to 100 per cent cash margin for opening letter of credit (LC) to import luxury goods. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: Nepal Rastra Bank (NRB) has removed the requirement to have 50 to 100 per cent cash margin for opening letter of credit (LC) to import luxury goods. After the improvement in the foreign exchange reserves, the NRB on Thursday amended the Integrated Circular 2078 to remove the requirement of cash margin for the imports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">From now onwards, the importers need to maintain only the cash margin specified by the banks for opening LC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks take a cash margin of up to 5 percent while opening import LCs considering the risk factor. NRB has also removed the ban on the payment for imports through Demand Draft (DD), and Telegraphic Transfer (TT). </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Importers can now pay up to USD 35,000 through TT for the imports from third countries while they can pay up to Rs 300 million through draft and TT for imports from India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB had fixed the cash margin of 50 to 100 percent earlier to discourage import of luxury goods but gradually eased the restrictions as the situation improved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The ban imposed by the government on the import of luxury goods has already been lifted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank was under pressure from businessmen to remove the provision of cash margin. The International Monetary Fund (IMF) also pressured NRB to remove the provision of cash margin for imports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the report of NRB, the foreign exchange reserves were equal to Rs 1215 billion by the end of last fiscal year, which increased by 6.3 per cent and reached Rs 1290 by billion mid-November.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The foreign exchange reserves held by the banks as of mid-November can sustain imports for ten months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, Nepal Rastra Bank injected liquidity of Rs 3.8 billion in the market through repo on Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16542', 'image' => '20230120033746_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-01-20 15:36:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16799', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Unhappy with the Support Price Fixed by the Government', 'sub_title' => '', 'summary' => 'January 20: The sugarcane farmers have expressed their dissatisfaction after the government set the support price of sugarcane less than the cost incurred this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The sugarcane farmers have expressed their dissatisfaction after the government set the support price of sugarcane less than the cost incurred this year. Farmers are complaining that even the cost of sugarcane plantation cannot be collected because the support price of sugarcane is less that the production cost while the cost of transportation and wages of laborers have increased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government set the minimum support price of sugarcane at Rs 540 per quintal for the current fiscal year, including the production cost, transportation fee and profit. In addition, the government has announced a subsidy of Rs 70 per quintal for the farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the farmers, the minimum support price set by the government is only Rs 20 more than last year while the transportation cost has doubled. Rakesh Mishra, coordinator of Sugarcane Farmers Struggle Committee Sarlahi, said that sugarcane transportation cost and labor charge have doubled in one year, making the cost of sugarcane more than Rs 550 per quintal. Farmers get a profit of only 60 rupees per quintal from sugarcane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Mishra questioned the government, “How much effort does it take to produce one quintal of sugarcane throughout the year? Why doesn't the government increase the price of our hard work? If the profit is only Rs 60 per quintal after working hard throughout the year, why did the farmers have to cultivate sugarcane?”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He alleged that the government's intention is to demoralize the farmers and destroy the domestic sugar industry and production. He said, “Until the tradition of fixing the price inside the Singha Durbar without the farmers’ knowledge comes to an end, the farmers will not get a fair price for their produce.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kapil Muni Mainali, president of the Sugarcane Producers' Association said that before the government fixed the price, the association had suggested setting the purchase price of sugarcane at Rs 705 per quintal. He accused the government of doing great injustice to the farmers by arbitrarily fixing the price of sugarcane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Ministry of Agriculture on the other hand said that the purchase price is determined only after studying all aspects of farmers' efforts, costs and transportation expenses in a scientific manner. Due to the fact that the government does not fix the price in the interests of the farmers, the industrialists do not pay the money to the farmers on time. The attraction of the farmers towards sugarcane farming is decreasing recently due to the reasons like lack of chemical fertilizers and the non-availability of sugarcane seeds of high production quality in addition to not getting appropriate price for the produce.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16540', 'image' => '20230120033638_sugarcane.jpg', 'article_date' => '2023-01-20 15:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16798', 'article_category_id' => '1', 'title' => 'Khumbu Welcomes Tourists in Off-Season ', 'sub_title' => '', 'summary' => 'January 20: The Khumbu region in Solukhumbu district has received a good number of tourists even during the off-season this year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 20: The Khumbu region in Solukhumbu district has received a good number of tourists even during the off-season this year. The winter period is considered as an off-season for tourism in the Khumbu area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the past three days, a total of 95 people visited the Khumbu region, according to a report of the Sagarmatha National Park. Of them, 68 tourists were foreigners, three from SAARC countries, two Nepalis, 18 porters and four tour guides, Chief Conservation Officer of the National Park, Bhumiraj Upadhyay said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upadhyay added that a total of Rs 215,150 revenue was collected from them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, most of the hotels in the Khumbu region are closed due to winter and off-season for tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tourism entrepreneur Lama Kaji Shrestha said that the visitors have arrived here as the weather here is clear these days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As there is no snowfall this winter, the trekking routes here are in good condition. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16539', 'image' => '20230120025713_258482_218714068152324_7011012_o.jpg', 'article_date' => '2023-01-20 14:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16797', 'article_category_id' => '1', 'title' => '24 Flour Mills to get 30,000 Metric Tons of Wheat from India', 'sub_title' => '', 'summary' => 'January 20: The Ministry of Industry, Commerce and Supplies has requested the Indian Embassy in Kathmandu to provide 30,489 metric tons of wheat to 24 flour mills operating in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The Ministry of Industry, Commerce and Supplies has requested the Indian Embassy in Kathmandu to provide 30,489 metric tons of wheat to 24 flour mills operating in Nepal. India has pledged to supply 50,000 metric tons of wheat to Nepal on needs basis. The ministry has allocated quotas for the 24 flour mills based on the recommendation of Nepal Flour Mills Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the Indian Embassy sends the letter to India’s Ministry of Commerce, Nepali flour mill operators will be able to buy wheat from the Indian traders of their contact.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Spokesman at the Ministry of Industry, Commerce and Supplies Dr Narayan Regmi informed that the quota for wheat imports which will be completed by March and the businessmen will be able to import the remaining quantity of wheat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">India banned wheat exports 10 months ago citing the Russia-Ukraine war and the decline in production. This had affected the Nepali industries that are chiefly dependent on India for wheat supplies. India is one of the largest wheat producers in the world. The price of fine flour in Nepal, which was Rs 50 per kg before India's export ban, has gone up to Rs 70. Similarly, the price of Rs 55 per kg of common flour has risen to Rs 76, and semolina which used to cost Rs 60 per kg now costs Rs 80 while the price of bran, which used to be sold at Rs 38 per kg has now increased to Rs 46. Industrialists say that the price of all products will be reduced by 15 percent if wheat supply from India resumes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the price of wheat in Nepal is Rs 52 per kg, and that of fine flour is Rs 70, common flour Rs 76, semolina Rs 80 and bran Rs 46. This price does not include VAT. The price of wheat in India is INR 28.50, fine flour INR 32, common flour INR 34, and bran INR 28 per kg.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen say that Nepal's flour mills need 1 million metric tons of wheat annually. Kumud Dugad, president of the Nepal Flour Mills Association, said 40 percent of the demand is fulfilled by Nepal's domestic production, while the remaining 60 percent should be imported from India. He said that the production of more than two dozen industries has stopped due to the short-supply of wheat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Secretary of the association, Bikash Begwani said that after the arrival of wheat from India, the price here will be cheaper by 15 percent and the price of flour will be cheaper by Rs 10 per kg. Begwani said that the government should request an additional 300,000 tons of wheat from India as the quota of wheat arriving in the first batch will last for just 2 weeks. He said that 300,000 tons of wheat will be sufficient till April when domestic wheat will be available in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">India gave permission for the export of 50,000 tons of wheat to Nepal following a request from the then Minister for Industry, Commerce and Supplies Dilendra Prasad Badu. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16538', 'image' => '20230120013206_wheatttttt.jpg', 'article_date' => '2023-01-20 13:31:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16796', 'article_category_id' => '1', 'title' => 'Snowfall in Humla ', 'sub_title' => '', 'summary' => 'January 20: Humla district witnessed a snowfall from last night, the first during this winter. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 20: Humla district witnessed a snowfall from last night, the first during this winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the previous years, the district used to receive snowfall in December. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals in the district headquarters Simkot have been enjoying the snowfall that occurred after a long gap. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the heavy snowfall has affected the normal life in the northern belt of the district. Local residents said that normal life has come to a standstill at Limi village in Namkha Rural Municipality-6 due to the heavy snowfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villages including Limi, Muchu, Khagalgaun, Til and Jang have received heavy snowfall, affecting the normal life and locals’ mobility there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meantime, the farmers are hopeful of good production of millet, buckwheat and other winter crops. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16537', 'image' => '20230120114200_DB_Simkot-2.jpg', 'article_date' => '2023-01-20 11:41:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16795', 'article_category_id' => '1', 'title' => 'National Startup Enterprise Policy to be Unveiled within this Fiscal Year', 'sub_title' => '', 'summary' => 'January 20: The Ministry of Industry, Commerce and Supplies is preparing to unveil the 'National Startup Enterprise Policy' within the current fiscacl year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 20: The Ministry of Industry, Commerce and Supplies is preparing to unveil the 'National Startup Enterprise Policy' within the current fiscacl year. The policy has been under discussion for a long time. The ministry is currently discussing the draft of the policy with various stakeholders, including the Ministry of Finance, the National Planning Commission, the Federation of Nepalese Chamber of Commerce, Confederation of Nepalese Industries among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Baburam Gautam, joint secretary of the Ministry of Industry, Commerce and Supplies, said that the 'National Startup Enterprise Policy 2079' is under internal discussion. Gautam said that the draft is currently being discussed at various stages in the ministry, and it is ready to be released in this fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there is no other provision regarding the registration of startup enterprises and businesses, startups are placed under micro, domestic and small industries, according to the existing laws.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Entrepreneur Ranjit Acharya, who is representing NYEF of the Federation of Nepalese Industries and Commerce, said he has been present at the ministry for the past 13 months and is working like an employee to draft the policy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Acharya said that since the startup policy is now also in the interest of the government, they are trying to implement this policy latest by a month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“Before making the startup policy, we studied the policies of various countries, including India, China, and America. While making the policy, our main priority with the government is to encourage new entrepreneurs to create a startup-friendly environment, to include in the policy topics such as giving income tax exemptions and providing subsidized loans,'' he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Acharya informed that a comprehensive discussion on startup policy will soon be held under the coordination of the Federation of Nepalese Chamber of Commerce and Industry. After the National Startup Enterprise Policy 2079 is approved by the Ministry of Law and implemented, the startups will operate according to the new policy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The current law of Nepal defines a startup as a venture under seven years of registration, operating professionally for skill development using innovative approach and creative thinking in order to develop, produce, and distribute goods and services. A startup should improve the existing production method through the use of modern systems and technology to remove the existing problems. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that this policy, which has been gathering dust on the table of government for a long time, will be implemented soon.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The draft proses certain criteria for a new company to be considered as a startup venture. They include:</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">1. The number of full-time workers in the enterprise is not more than 10</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">2. The total profit of the enterprise from the annual income should not exceed Rs 5 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">3. Fixed capital (excluding the value of the real estate) should not exceed Rs 20 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">4. Paid-up capital should not exceed Rs 3 million</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">5. The enterprise must not be operating for more than seven years</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">6. The enterprise should have two or more founders</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">7. Must have innovative approach for solving problems</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">8. Use of information technology to produce and distribute goods or services in an efficient, accessible and reliable manner or to expand the existing work in a new way</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">9. At least 5 per cent of the company's annual expenses are spent on product development, market development, and research and development</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">10. A patent or design or software of the intellectual property of the enterprise is registered or the patent or design or software is eligible for registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Enterprises that meets at least five conditions, including two from points 7 to 10, can start a business as a startup</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businesses not considered start-up ventures (proposed)</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Not registered in Nepal according to existing laws</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- The act of importing goods or services from abroad without using information technology and without using the latest technology and research</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Blacklisted by Credit Information Center or operated by such person</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- No permanent account number for tax purposes</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- As a holding company, an enterprise classified as a medium or large industry according to the Industrial Business Act, 2076</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">- Other matters prohibited by prevailing laws</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-20', 'modified' => '2023-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '16536', 'image' => '20230120102625_startup.jpg', 'article_date' => '2023-01-20 10:25:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
