Federation of Nepali Cottage and Small Industries will be hosting “Sixteenth International Festival and Sixth Organic Agriculture Fair 2079 at Bhrikutimandap in Kathmandu from February…
Federation of Nepali Cottage and Small Industries will be hosting “Sixteenth International Festival and Sixth Organic Agriculture Fair 2079 at Bhrikutimandap in Kathmandu from February…
Circulation of bank notes is decreasing in the market due to the public attraction towards digital payment and the government's encouragement for electronic payment…
Prices of rice have surged by 15 per cent in India in the last one…
The government has appointed Toyam Raya and Ram Prasad Ghimire as Finance and Revenue Secretaries respectively.…
Prime Minister Pushpa Kamal Dahal on Thursday directed to the Secretary at the Ministry of Industry, Commerce and Supplies to lower the prices of petroleum…
January 5: The Nepal Export Council has said that the total export of Nepal has decreased by 34.6 percent in the five months of the current fiscal…
January 5: The parking fee of vehicles parked across various customs yards along with the bank interest which the importers are liable to pay have reached almost Rs 1…
January 5: The import of cooking gas (LPG) has been declining in recent days, according to the data made public by the Department…
January 5: The number of tourists visiting Sagarmatha National Park has increased by more than three folds in the first five months of the current fiscal year compared to the corresponding period of last…
Ministry of Home Affairs on Wednesday issued a circular to all district administration offices to shut down crusher industries operating…
January 5: Dust from the Lubmini Sugar Industry at Sunwal in Nawalparasi (Bardaghat Susta West) is impacting the health of the people, complained the local…
Preparations are underway to open a track for jungle safari in Nawalparasi, east of Bardaghat Susta, inside the Chitwan National…
Just two-and-a-half- month after it came into effect, Nepal Rastra Bank has revised ‘Working Capital Loan Guideline-2079’. NRB took the decision to this effect at the directive of Prime Minister Pushpa Kamal…
January 4: The Confederation of Nepalese Industry (CNI) has said that there has been a slump in the construction sector due to the inability to increase expenditure for the development of…
January 4: The Government of India is preparing to send 50,000 metric tons of wheat to Nepal in the first lot after collecting the details of the wheat required by Nepal's…
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' => '16677', 'article_category_id' => '1', 'title' => 'International Festival and Agriculture Fair to Kick off in Kathmandu From February 14', 'sub_title' => '', 'summary' => 'Federation of Nepali Cottage and Small Industries will be hosting “Sixteenth International Festival and Sixth Organic Agriculture Fair 2079 at Bhrikutimandap in Kathmandu from February 14.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">January 6: An industrial exhibition will be organized at Bhrikutimandap in Kathmandu from February 14. Federation of Nepali Cottage and Small Industries will be hosting “Sixteenth International Festival and Sixth Organic Agriculture Fair 2079 at Bhrikutimandap in Kathmandu from February 14. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation informed that it is hosting the fair to promote domestic production. The federation has set the slogan "Let's use Nepali products, let's be proud of being Nepali and hard work, creation, production and products of my Nepal". </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the Federation, the exhibition will include the products from all types of industries operating in Nepal in order to showcase the current situation of small, domestic and cottage industries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Entrepreneurs from all provinces and districts of Nepal, and SAARC countries, including India, Pakistan, Bangladesh and China will participate in the exhibition.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The exhibition will have as many as 200 stalls. President of Federation of Nepali Cottage and Small Industries Umesh Prasad Singh said the fair will be an important medium to make Nepal's organic products export-oriented and attract international businessmen and entrepreneurs to the country. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Singh, organic agricultural products will be exhibited in a separate pavilion in collaboration with Organic Association of Nepal, which is one of the co-organizers of the event.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Ministry of Industry, Commerce and Supplies, Trade and Export Promotion Center, Ministry of Women, Children and Senior Citizens, Bagmati Province government, and Sudurpaschim Province government are co-organizers of the industrial exhibition.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16418', 'image' => '20230106055136_collage (34).jpg', 'article_date' => '2023-01-06 17:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '16676', 'article_category_id' => '1', 'title' => 'Use of Bank Notes Declining', 'sub_title' => '', 'summary' => 'Circulation of bank notes is decreasing in the market due to the public attraction towards digital payment and the government's encouragement for electronic payment systems. ', 'content' => '<p><br /> <br /> <span style="font-size:16px">January 6: Circulation of bank notes is decreasing in the market due to the public attraction towards digital payment and the government's encouragement for electronic payment systems. </span></p> <p><span style="font-size:16px">The number of users of electronic payment devices and transactions is increasing. Similarly, Nepal Rastra Bank's data shows that the use of physical cash is falling in the market. </span></p> <p><span style="font-size:16px">According to NRB, by the end of Mangisr 2079, notes worth Rs 616 billion were in circulation in the market. During the same period last year, notes worth of Rs 654 billion were in circulation. This shows that circulation of physical cash has declined by Rs 38 billion in one year. </span></p> <p><span style="font-size:16px">The statistics at the NRB show that notes worth Rs 671 billion were in circulation on average per month in the first five months of 2078/79, while in the first five months of the current fiscal year, notes worth Rs 617 billion were in circulation on average per month. </span></p> <p><span style="font-size:16px">The fifth month of the current fiscal year saw the drop in the circulation of notes by Rs 15 billion compared to the fourth month. In the fourth month of the current fiscal, notes worth Rs 631 billion were in circulation in the market. </span></p> <p><span style="font-size:16px">The number of notes in circulation has decreased every month, except the month of Ashoj due to festivals such as Dashain and Tihar in the current fiscal year, according to the financial statements published by the central bank.</span></p> <p><span style="font-size:16px">NRB sends new notes to the market at Dashain every year. Since people spend more during the festival, circulation of the notes is more as well. The NRB issued notes worth Rs 16 billion to the market at this year’s Dashain. Apart from it, the market saw an increase of bank notes worth Rs 35 billion.</span></p> <p><span style="font-size:16px">With the celebration of festivals over, the notes in circulation had started to return to the banking system from Kartik. Circulation of notes has dropped by Rs 33 billion in the fourth and fifth months of the current fiscal. </span></p> <p><span style="font-size:16px">According to the NRB, among the notes of different denominations in circulation in the market, note of Rs 5 denomination is the highest in in the number. By the end of last fiscal year, notes worth Rs 670 million of 5 denomination were in the market.</span></p> <p><span style="font-size:16px">In terms of monetary value, notes of Rs 1000 denomination beat other notes in circulation. <br /> Notes worth Rs 443 billion of one thousand denominations are in the market. Similarly, the notes worth Rs 260 million of Rs 500 denominations are in circulation.</span></p> <p><span style="font-size:16px">Guru Prasad Poudel, Executive Director at Payment System Department of Nepal Rastra Bank said number of notes in circulation is shrinking with rise of digital payment system.</span></p> <p><span style="font-size:16px">“However, number of notes in circulation is still high in the market,”, Poudel shared. <br /> To encourage electronic payment system, the NRB has made it mandatory to use a cheque for the transaction of the amount above Rs 10 million. The central bank has also increased limit for electronic transactions. </span></p> <p><span style="font-size:16px">Real time gross settlement (RTGS), ATMs, electronic cheque clearing, IPS, Connect IPS, Debit/Credit cards, internet banking, wallet, QR code, e-commerce, among other electronic mediums and devices, are being used for digital transaction in Nepal. </span></p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16417', 'image' => '20230106042508_collage (30).jpg', 'article_date' => '2023-01-06 16:19:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '16675', 'article_category_id' => '1', 'title' => 'Rice prices Surge by 15 Per Cent in India ', 'sub_title' => '', 'summary' => 'Prices of rice have surged by 15 per cent in India in the last one month.', 'content' => '<p><br /> January 6: Prices of rice have risen in India. Palm oil has also become costly. Prices of rice have surged by 15 per cent in the last one month, The Economic Times Reported. Prices of palm oil are projected to go up by Rs 5 to 7 per liter in the coming weeks. </p> <p>Basmati variety of rice is selling at a record high of Rs 110 per kg as compared with Rs 95 per kg a month ago. Traders attribute price hike to the millers hoarding rice and paddy in anticipation of better prices in the world market. </p> <p>Analysts are projecting rice prices to become dear after floods in Pakistan damaged the country’s rice crop. The price is jumping despite hardly any orders from Iran, which is India’s biggest market for basmati rice. </p> <p>Prices of other varieties of rice are also surging in the anticipation of drop in rice production. </p> <p>Rice production in 2022-23 is estimated at 104.99 million, which is 6.77 million tonnes less than 111.76 tonnes in 2021-22 in India. </p> <p><br /> </p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16416', 'image' => '20230106104033_collage (29) (1).jpg', 'article_date' => '2023-01-06 10:38:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '16674', 'article_category_id' => '1', 'title' => 'Raya, Ghimire appointed as finance, revenue secretaries ', 'sub_title' => '', 'summary' => 'The government has appointed Toyam Raya and Ram Prasad Ghimire as Finance and Revenue Secretaries respectively. ', 'content' => '<p><br /> January 5: With the formation of the new government after the November 20 general elections, Nepal government has started promotion and transfer of civil servants.</p> <p>A meeting of the Council of Ministers held on Thursday decided to appoint Toyam Raya, Secretary at the Ministry of Industry, Commerce and Supplies as the secretary at the Ministry of Finance. </p> <p>Similarly, the government has appointed Ram Prasad Ghimire as revenue secretary. Earlier, Ghimire was working at the Commission for the Investigation of Abuse of Authority (CIAA).</p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16415', 'image' => '20230105052111_collage (28).jpg', 'article_date' => '2023-01-05 17:18:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '16673', 'article_category_id' => '1', 'title' => 'Prime Minister Dahal Directs to Lower Fuel Prices ', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal on Thursday directed to the Secretary at the Ministry of Industry, Commerce and Supplies to lower the prices of petroleum products.', 'content' => '<p> <br /> January 5: Prime Minister Pushpa Kamal Dahal on Thursday directed to the concerned authorities to lower the prices of petroleum products.</p> <p>The prime minister summoned Secretary Toya Narayan Gyawali of the Ministry of Commerce and Supplies, to the Office of Prime Minister and Council of Ministers and directed him to cut fuel prices, in accordance with the price drop in international market and a revised price list sent by the Indian Oil Corporations. </p> <p>Dahal’s press coordinator Surya Kiran Sharma said that the Prime Minister had instructed the Industry, Commence and Supplies Secretary to slash the prices of petrol, diesel and aviation fuel to give relief to the customers. </p> <p>Secretary at the ministry is the chairperson of the Nepal Oil Corporation. </p> <p>Nepal Oil Corporation is making a profit of around Rs990 million fortnightly as the fuel prices have come down in the international market.</p> <p>However, the state-owned corporation is reluctant to cut the prices, citing huge debt and loan amounting to Rs 18 billion to be paid to the Indian Oil Corporation and to the Nepal government. </p> <p>Prime Minister Dahal had to instruct the secretary to slash the prices after the NOC refused to cut the prices despite tremendous pressure from various quarters. <br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16414', 'image' => '20230105044533_collage (27).jpg', 'article_date' => '2023-01-05 16:40:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '16672', 'article_category_id' => '1', 'title' => 'Nepal Export Council urges Govt to Provide Tax Exemption to Increase Export', 'sub_title' => '', 'summary' => 'January 5: The Nepal Export Council has said that the total export of Nepal has decreased by 34.6 percent in the five months of the current fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The Nepal Export Council has said that the total export of Nepal has decreased by 34.6 percent in the five months of the current fiscal year. Organising a press conference in Bhaktapur on Wednesday, Chairman of the council Resham Bahadur Pokharel said that Nepal's export is now limited to Rs 67.3 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“In the year 2020/21, the total foreign trade of Nepal increased by 26.1 percent compared to the previous year and reached Rs 2120 billion. With the increase in foreign trade, Nepal's total exports also increased by 41.7 percent to 230 billion and imports increased by 24.7 percent to 1920 billion. But in the first five months of 2022/23, the total export of Nepal decreased by 34.6 percent to 67.3 billion. The problems surface because our country's economy is dependent on import rather than export,” said Pokharel</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Demanding that the government produce export-quality goods and provide preferential interest rates to the exporters, he said that the country's economy is not strong due to the import-oriented economy. Pokharel demanded that the state should arrange various exemptions for export-oriented industries for 10 years and emphasized that the procedural hassles to be faced while receiving cash incentives should be ended.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that the government should establish a globally recognized lab for the export of Nepali products to different countries.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government should promote its products through diplomatic missions to compete with the products of the neighobouring countries, said Pokharel.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pokharel pointed out that the export of Nepali products has not increased due to high freight charges, lack of skilled manpower, lack of liquidity, high production costs, transportation costs, and lack of market diversification.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In order to make the import-oriented market export-oriented, he said that the council will organize a large exhibition in Thamel, Kathmandu on January 5 and 6, with 20 stalls of various goods produced in Nepal on the occasion of Export Day. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The council’s 25th Annual General Meeting, Silver Jubilee and the 7th Export Day will be celebrated by the council with the slogan 'Expansion of Exports, Improvement of Economy'.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the press conference, the council's former chairman Naresh Lal Shrestha said that if export-oriented policies are not adopted to strengthen the country's economy, it will not take long for the country to reach the situation of Sri Lanka. He pointed out that the government at all three levels should give priority to export along with diversification of local products.</span></span></span></p> <p> </p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16413', 'image' => '20230105025605_export.jpg', 'article_date' => '2023-01-05 14:55:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16671', 'article_category_id' => '1', 'title' => 'Interest and Parking Fee of Vehicles Stuck at Customs Yards reach almost Rs 1 Billion', 'sub_title' => '', 'summary' => 'January 5: The parking fee of vehicles parked across various customs yards along with the bank interest which the importers are liable to pay have reached almost Rs 1 billion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The parking fee of vehicles parked across various customs yards along with the bank interest which the importers are liable to pay have reached almost Rs 1 billion. About 3,200 vehicles are stuck in Birganj, Bhairahawa and Rasuwagadhi customs, the major customs points of Nepal, since the government restricted the import of luxurious items.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Citing the pressure on the foreign exchange reserves, the government published a notice in the Nepal Gazette on April 26 last year and imposed a ban on the import of 10 luxurious items, including vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The vehicles stranded at the customs points had already arrived in Nepal before the restriction was imposed but the customs clearance of those vehicles has not been possible due to the ban imposed by the government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Customs officials said that most of the vehicles stopped at the customs checkpoint were imported nine months ago while the restriction was imposed eight months ago.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The automobile dealers are at the receiving end due to the government’s policy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dhruba Thapa, president of NADA Automobiles Association of Nepal (NADA), informed New Business Age that on one hand banks and financial institutions are continuously increasing the interest rates after releasing the money for the purchase of vehicles, and on the other hand, they are forced to pay high parking fees for the vehicles stuck at the customs points for 8/9 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NADA said that out of 3,200 vehicles stuck at the customs points, about 3,000 are imported by NADA-affiliated businessmen.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The traders have been paying high parking fees for the vehicles stuck at the customs checkpoint, along with heavy interest on Rs 5 billion spent on imports.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Thapa also said that auto traders are currently paying up to 12 to 15 per cent interest on Rs 5 billion spent on vehicle imports. In this period of 8 to 9 months, the importers are liable to pay around Rs 500 million in interest. Similarly, he said that the average parking fee for 3200 vehicles at the rate of Rs 518 per day for 6 to 9 months has reached almost Rs 350 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that even though the government lifted the ban on import of vehicles this January, they are still unable to obtain customs clearance due to lack of credit from banks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In other words, it seems that the interest and parking fee expenses of the auto traders for the last 8/9 months have reached around Rs 850 to 900 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Among the imported vehicles, the maximum number of vehicles (2002) are stuck at the Birgunj customs. Similarly, 1100 vehicles are stranded at Bhairahawa while the remaining vehicles imported from China are stuck at Tatopani and Rasuwa customs.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16412', 'image' => '20230105024504_20220815011457_1660393906.jpg', 'article_date' => '2023-01-05 14:44:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16670', 'article_category_id' => '1', 'title' => 'Why has the Import of LPG Declined?', 'sub_title' => '', 'summary' => 'January 5: The import of cooking gas (LPG) has been declining in recent days, according to the data made public by the Department Customs.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The import of cooking gas (LPG) has been declining in recent days, according to the data made public by the Department Customs. The reasons for the decline in import of LPG include lack of liquidity, reduction in industrial production, development and construction work not progressing at a fast pace and some industries switching to electricity instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">As of mid-December of current fiscal year, more than 20.63 million kg of LPG was imported in Nepal against the import of 216.7 million kg of LPG last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">There is no reliable data available on how much gas is consumed by the households as well as the commercial and industrial sectors in Nepal. According to Nepal Oil Corporation (NOC), although there is no official data, it is estimated that 25 percent of the total consumption is used in industrial and commercial sectors. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Binit Mani Upadhyaya, spokesperson for NOC said, “Hotels and industries that produce iron, steel, cement and other industries consume LPG. Big industries like Jagdamba, Aarati Strips Pvt Ltd have signed agreement with NOC to avail LPG.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Although the decline in import of LPG is good, Upadhyaya said that it not a matter of excitement as the proportion of decline is very small. There is a possibility that gas consumption may have decreased due to industries cutting their production.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">It is estimated that the demand for gas decreased recently due to increased availability of hydroelectricity. An official of Jagdamba Steel informed New Business Age that production has decreased recently while electricity is gradually replacing LPG.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, cement industries also used LPG, but they now rely on electricity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dhruba Raj Thapa, president of the Cement Manufacturers Association of Nepal, said that the cement industries are reducing the use of gas because they have enough electricity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Government data shows that the pace of development is almost at a standstill in the current fiscal year. According to the Office of the Financial Comptroller General, the government has spent only 11.16 percent of the capital budget so far. Spokesperson Upadhyaya said that due to the fact that more diesel is being consumed in construction projects, the import is low because the construction work is almost at a standstill.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16411', 'image' => '20230105021823_gas.jpg', 'article_date' => '2023-01-05 14:17:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16669', 'article_category_id' => '1', 'title' => 'Visitors Increase by Three Folds in Sagarmatha National Park', 'sub_title' => '', 'summary' => 'January 5: The number of tourists visiting Sagarmatha National Park has increased by more than three folds in the first five months of the current fiscal year compared to the corresponding period of last year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 5: The number of tourists visiting Sagarmatha National Park has increased by more than three folds in the first five months of the current fiscal year compared to the corresponding period of last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Namche-based office of Sagarmatha National Park, a total of 7,464 persons had visited the national park, which is home to the world’s highest peak Mt Everest, during the first five months of last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, 25,029 tourists visited the national park in the first five months of the current fiscal year, according to the national park’s information officer Manoj Mandal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that a total of 21,853 foreigners and 3,176 Nepalis visited the Everest region during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Among the foreign visitors, 1990 were from the SAARC countries while the remaining visitors were from other countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The national park collected revenue worth Rs 35.5 million in the first five months of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The park charges Rs 3000 per person in case the visitor is a foreign national. Similarly, it charges Rs 1500 for visitors from SAARC countries and Rs 100 for Nepalis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of visitors during last year was less due to the impact of Covid-19 and restrictions imposed by the government. After the restrictions were lifted, the number of visitors increased significantly, informed the park officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sagarmatha National Park was established in 1976 and covers an area of 1148 square kilometers in Solukhumbu district of eastern Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides having the world’s highest peak Everest, the national park also boasts of other towering peaks such as Lhotse, Nupse, Cho Oyu, Pumori, Ama Dablam, Thamsherku, Numbur, Cholatse, Lobuche among others.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16410', 'image' => '20230105114150_khumbu-valley.jpg', 'article_date' => '2023-01-05 11:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16668', 'article_category_id' => '1', 'title' => 'Home Ministry Issues Decree to Shut Down Illegally Operating Crusher Industries ', 'sub_title' => '', 'summary' => 'Ministry of Home Affairs on Wednesday issued a circular to all district administration offices to shut down crusher industries operating illegally.', 'content' => '<p><span style="font-size:18px">January 5: Ministry of Home Affairs on Wednesday issued a circular to all district administration offices to shut down crusher industries operating illegally. </span></p> <p><span style="font-size:18px">The Home Ministry has issued circular to all 77 district administration offices to shut down crusher industries involved in illegally quarrying and excavating the sand, boulder and stones. </span></p> <p><span style="font-size:18px">Similarly, the ministry has also asked the DAOs to investigate and immediately shut down crusher industries that were granted permission to excavate and process the stone, boulders and sand for different development and construction projects if they have continued quarrying works even after the completion of those projects. </span></p> <p><span style="font-size:18px">Spokesperson Phadindramani Pokhrel at the Ministry of Home Affairs said that DAOs would be powered to monitor the crusher industries. </span></p> <p><span style="font-size:18px">“Crusher industries operating without permission, and renewal and industries that have continued even after the completion of development projects will be shut down”, Pokhrel added. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16409', 'image' => '20230105112602_collage (22).jpg', 'article_date' => '2023-01-05 10:48:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '16667', 'article_category_id' => '1', 'title' => 'Dust from Sugar Industry Creating Health Hazard ', 'sub_title' => '', 'summary' => 'January 5: Dust from the Lubmini Sugar Industry at Sunwal in Nawalparasi (Bardaghat Susta West) is impacting the health of the people, complained the local residents. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 5: Dust from the Lubmini Sugar Industry at Sunwal in Nawalparasi (Bardaghat Susta West) is impacting the health of the people, complained the local residents. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dust emanating from sugarcane crushers used by the industry and other harmful particles have been affecting the health of the locals, said Bimala Aryal, mayor of Sunwal Municipality. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The local government has drawn the attention of the industry to the issue, she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Preparations are underway to organise talks with the management team after our concerns have remained unheard so far. We have demanded that the industry should operate without affecting the locals and the environment," she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals of the area have also been affected in various other ways due to the industry. People's mobility has been restricted, while dust from the industry have been affecting crops, they complained. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kush Subedi, the industry's administrative chief, said that they have already initiated the process to purchase the equipment to control dust. "The problem will be resolved in a few day," he said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16408', 'image' => '20230105104420_312051785_182395174300702_8648373783323486733_n.jpg', 'article_date' => '2023-01-05 10:43:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16666', 'article_category_id' => '1', 'title' => 'Jungle Safari Track Set to Open From Nawalpur to Chitwan National Park ', 'sub_title' => '', 'summary' => 'Preparations are underway to open a track for jungle safari in Nawalparasi, east of Bardaghat Susta, inside the Chitwan National Park. ', 'content' => '<p><br /> <span style="font-size:18px">January 4: Preparations are underway to open a track for jungle safari in Nawalparasi, east of Bardaghat Susta, inside the Chitwan National Park. </span></p> <p><span style="font-size:18px">The new track will pave the route for jungle safari to Chitwan National Park from Nawalparasi for the first time.</span></p> <p><span style="font-size:18px">Till date, jungle safaris are being operated in the intermediate(madhyawarti) community forests of the district only. </span></p> <p><span style="font-size:18px">After the new track is opened, jungle safaris will be operated in the core area of the Chitwan National Park. The track runs through Nawalparasi’s Sikharauli, Sishwar and Lamichaur intermediate(madhyawarti) areas. </span><br /> </p> <p><span style="font-size:18px">The new track will connect Gaindakot Municipality, Devchuli Municipality and Kawasoti Municipality, according to Devchuli Municipality Chief Hari Prasad Neupane. </span></p> <p><span style="font-size:18px">Chitwan National Park, Homestay and Hotel Association Nawalpur, Devchuli Municipality and Sishwar Madhyawarti Consumers’ Committee have agreed to collaborate for the track construction.</span></p> <p><span style="font-size:18px">“The new track meant for jungle safari in the core area of the Chitwan National Park will play a big role for Nawalpur’s tourism promotion. So, we have taken this as an opportunity for our new identity,” Neupane shared. </span></p> <p><span style="font-size:18px">According to Chairman Ganesh Sharma of Devchuli Municipality ward no-17, they are preparing to declare the area a tourist zone this year. </span></p> <p><span style="font-size:18px">“Since Devchuli Municipality has immense potential for tourism. We are planning to announce area tourist zone at the earliest,” Sharma added. </span></p> <p><span style="font-size:18px">“Track construction for the jungle safari has started off and we will take tourists for jungle safari at Fourth Devchuli Festival slated to be held in one month’s time,” Sharma shared. </span></p> <p><span style="font-size:18px">Locals are elated that new track for jungle safari from Nawalparasi will open new doors of opportunities for their livelihood and income generation. </span></p> <p><span style="font-size:18px">“New tourism opportunities will directly help for people’s income and life,” said Sishwar Users’ Committee Chairman Netra Bahadur Pandey. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16407', 'image' => '20230105062248_collage (21).jpg', 'article_date' => '2023-01-05 06:17:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '16665', 'article_category_id' => '218', 'title' => 'NRB Revises Working Capital Loan Guideline-2079 ', 'sub_title' => '', 'summary' => 'Just two-and-a-half- month after it came into effect, Nepal Rastra Bank has revised ‘Working Capital Loan Guideline-2079’. NRB took the decision to this effect at the directive of Prime Minister Pushpa Kamal Dahal.', 'content' => '<p> </p> <p>January 4: Just two-and-a-half- month after it came into effect, Nepal Rastra Bank has revised ‘Working Capital Loan Guideline-2079’. <br /> NRB took the decision to this effect at the directive of Prime Minister Pushpa Kamal Dahal. </p> <p>Ever since Pushpa Kamal Dahal was appointed as Prime Minister, different umbrella organizations of businesses had been lobbying him to revise the new rule of working capital loan.</p> <p>On Wednesday morning, Prime Minister Dahal had held meeting with Finance Minister Bishnu Prasad Poudel and Nepal Rastra Bank’s Governor Maha Prasad Adhikari regarding the same matter. </p> <p>In a virtual press meet, the Nepal Rastra Bank had notified revisions made in connection with the rule of working capital loan. <br /> Since the introduction of the working capital loan guideline by the NRB for financial discipline and stability, industrialists, entrepreneurs and traders had been protesting against it. </p> <p>With the revisions, NRB will not implement the provisions to provide loan based on current assets and annual turnover amount only. Businessmen that have borrowed more than the limit can repay the debt in five installments by Ashad 2082. </p> <p>While determining the limit of periodic loans for working capital purposes, at least 3 years of estimated financial statements and at least 3 years of audited statements should be analyzed in accordance with working capital loan policy.</p> <p>The new rule came into implementation from October 18, 2022. </p> <p>Working capital loan is provided to the firms, organizations and companies to cover their short-term operational needs.</p> <p>Earlier, Nepal Rastra Bank officials had been defending the new rule of working capital loan saying that businessmen and entrepreneurs were using the loan to invest in the stock market and real estate. </p> <p>NRB Governor Maha Prasad Adhikari was reluctant even to hear the word revision of the rule of working capital loan during Sher Bahadur Deuba-led government’s tenure.</p> <p>After CPN-UML bagged the Ministry of Finance, Adhikari revised the provisions related to the working capital loan on the ninth day of the formation of the new government. </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16406', 'image' => '20230104050250_collage (26).jpg', 'article_date' => '2023-01-04 16:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '16664', 'article_category_id' => '1', 'title' => 'Construction Business Slumps due to Lack of Capital Expenditure: CNI', 'sub_title' => '', 'summary' => 'January 4: The Confederation of Nepalese Industry (CNI) has said that there has been a slump in the construction sector due to the inability to increase expenditure for the development of infrastructure.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 4: The Confederation of Nepalese Industry (CNI) has said that there has been a slump in the construction sector due to the inability to increase expenditure for the development of infrastructure. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CNI President Vishnu Kumar Agarwal, during a meeting with Deputy Prime Minister and Minister for Physical Infrastructure and Transport Narayankaji Shrestha on Tuesday, informed that all the sectors related to construction business, are facing recession due to the slowdown in the infrastructure development.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CNI also requested Deputy Prime Minister to increase the development expenditure. The team led by the CNI president Agarwal emphasized the need to increase the development expenditure and start revitalizing the economic sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal also pointed out the need to promote investment in the infrastructure sector. Adding that there is less investment in the construction sector, he said that the overall infrastructure industry has slowed down due to low capital expenditure.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that when the infrastructure sector faces a slowdown, all the other related sectors also face a slowdown. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal also urged the Deputy Prime Minister to coordinate with the Ministry of Finance to speed up the payments due to the builders. He added that the development projects should be completed quickly by allocating the required budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He also presented a concept with clear steps to be taken immediately to restore momentum to the country's economy, which is in crisis.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the meeting, CNI suggested measures to be taken immediately by prioritizing the financial sector, industry, infrastructure, tourism, energy and information technology sectors to speed up the economy again.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In response, Deputy Prime Minister Shrestha said that the suggestions are important for the improvement of the economy. He said that the government will move forward by addressing such problems. </span></span></span></p> <p><br /> <br /> <br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16405', 'image' => '20230104042402_Untitled.jpg', 'article_date' => '2023-01-04 16:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16662', 'article_category_id' => '1', 'title' => '50,000 Tons of Wheat Arriving from India', 'sub_title' => '', 'summary' => 'January 4: The Government of India is preparing to send 50,000 metric tons of wheat to Nepal in the first lot after collecting the details of the wheat required by Nepal's industry.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 4: The Government of India is preparing to send 50,000 metric tons of wheat to Nepal in the first lot after collecting the details of the wheat required by Nepal's industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Kumud Dugad, central president of Nepal Flour Mills Association, said that the industries of Nepal require 250,000 tons of wheat by mid-April. But even if 50,000 metric tons comes in the first batch, there will be some relief.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dugad said that the import was delayed because accurate data was not sent to the Indian government on time. He informed New Business Age that the data of the Ministry of Agriculture and Livestock Development showed that Nepal produced 2.9 million tons of wheat and the Indian side assumed that there is enough stock of wheat in Nepal based on the same data. The problem surfaced because they did not show interest in opening the export immediately.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Dugad, the price of flour in Nepal will drop by Rs 10 per kilogram after importing wheat from India. The current price of wheat in Nepal is Rs 52 per kg. Similarly, fine flour costs Rs 70, common flour Rs 76, semolina Rs 80 and bran Rs 46 per kg without VAT.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The price of wheat in India is INR 28.50 per kg, fine flour INR 32, common flour INR 34, and bran INR 28 per kg. A kilogram of wheat is Rs 5.40 cheaper in India than in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A total of 28 mills in Nepal need 250,000 tons of wheat for three months. Bikas Begwani, vice president of Morang Trade Association stated that for the next year, the government should fix the quota in consultation with the Indian government and arrange the wheat required for the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Due to the shortage of wheat, the production of most of the flour mills in Nepal has been limited to 20 to 40 percent. At this time, the price of flour in India and Nepal differs by Rs 300 per quintal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhavesh Rathi, a member of the Confederation of Nepalese Industry and the owner of Baba Flour Mill, says that due to this, there will be an increase in smuggling and the domestic industry will be in further crisis.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Citing the Russia-Ukraine war, India had imposed a ban on wheat export eight months ago. Before the ban, the price of fine flour in Nepal was Rs 50 per kg, common flour was Rs 55 per kg, semolina was Rs 60 per kg and bran was Rs 38 per kg.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16403', 'image' => '20230104031551_wheatttttt.jpg', 'article_date' => '2023-01-04 15:15:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '16677', 'article_category_id' => '1', 'title' => 'International Festival and Agriculture Fair to Kick off in Kathmandu From February 14', 'sub_title' => '', 'summary' => 'Federation of Nepali Cottage and Small Industries will be hosting “Sixteenth International Festival and Sixth Organic Agriculture Fair 2079 at Bhrikutimandap in Kathmandu from February 14.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">January 6: An industrial exhibition will be organized at Bhrikutimandap in Kathmandu from February 14. Federation of Nepali Cottage and Small Industries will be hosting “Sixteenth International Festival and Sixth Organic Agriculture Fair 2079 at Bhrikutimandap in Kathmandu from February 14. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation informed that it is hosting the fair to promote domestic production. The federation has set the slogan "Let's use Nepali products, let's be proud of being Nepali and hard work, creation, production and products of my Nepal". </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the Federation, the exhibition will include the products from all types of industries operating in Nepal in order to showcase the current situation of small, domestic and cottage industries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Entrepreneurs from all provinces and districts of Nepal, and SAARC countries, including India, Pakistan, Bangladesh and China will participate in the exhibition.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The exhibition will have as many as 200 stalls. President of Federation of Nepali Cottage and Small Industries Umesh Prasad Singh said the fair will be an important medium to make Nepal's organic products export-oriented and attract international businessmen and entrepreneurs to the country. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Singh, organic agricultural products will be exhibited in a separate pavilion in collaboration with Organic Association of Nepal, which is one of the co-organizers of the event.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Ministry of Industry, Commerce and Supplies, Trade and Export Promotion Center, Ministry of Women, Children and Senior Citizens, Bagmati Province government, and Sudurpaschim Province government are co-organizers of the industrial exhibition.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16418', 'image' => '20230106055136_collage (34).jpg', 'article_date' => '2023-01-06 17:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '16676', 'article_category_id' => '1', 'title' => 'Use of Bank Notes Declining', 'sub_title' => '', 'summary' => 'Circulation of bank notes is decreasing in the market due to the public attraction towards digital payment and the government's encouragement for electronic payment systems. ', 'content' => '<p><br /> <br /> <span style="font-size:16px">January 6: Circulation of bank notes is decreasing in the market due to the public attraction towards digital payment and the government's encouragement for electronic payment systems. </span></p> <p><span style="font-size:16px">The number of users of electronic payment devices and transactions is increasing. Similarly, Nepal Rastra Bank's data shows that the use of physical cash is falling in the market. </span></p> <p><span style="font-size:16px">According to NRB, by the end of Mangisr 2079, notes worth Rs 616 billion were in circulation in the market. During the same period last year, notes worth of Rs 654 billion were in circulation. This shows that circulation of physical cash has declined by Rs 38 billion in one year. </span></p> <p><span style="font-size:16px">The statistics at the NRB show that notes worth Rs 671 billion were in circulation on average per month in the first five months of 2078/79, while in the first five months of the current fiscal year, notes worth Rs 617 billion were in circulation on average per month. </span></p> <p><span style="font-size:16px">The fifth month of the current fiscal year saw the drop in the circulation of notes by Rs 15 billion compared to the fourth month. In the fourth month of the current fiscal, notes worth Rs 631 billion were in circulation in the market. </span></p> <p><span style="font-size:16px">The number of notes in circulation has decreased every month, except the month of Ashoj due to festivals such as Dashain and Tihar in the current fiscal year, according to the financial statements published by the central bank.</span></p> <p><span style="font-size:16px">NRB sends new notes to the market at Dashain every year. Since people spend more during the festival, circulation of the notes is more as well. The NRB issued notes worth Rs 16 billion to the market at this year’s Dashain. Apart from it, the market saw an increase of bank notes worth Rs 35 billion.</span></p> <p><span style="font-size:16px">With the celebration of festivals over, the notes in circulation had started to return to the banking system from Kartik. Circulation of notes has dropped by Rs 33 billion in the fourth and fifth months of the current fiscal. </span></p> <p><span style="font-size:16px">According to the NRB, among the notes of different denominations in circulation in the market, note of Rs 5 denomination is the highest in in the number. By the end of last fiscal year, notes worth Rs 670 million of 5 denomination were in the market.</span></p> <p><span style="font-size:16px">In terms of monetary value, notes of Rs 1000 denomination beat other notes in circulation. <br /> Notes worth Rs 443 billion of one thousand denominations are in the market. Similarly, the notes worth Rs 260 million of Rs 500 denominations are in circulation.</span></p> <p><span style="font-size:16px">Guru Prasad Poudel, Executive Director at Payment System Department of Nepal Rastra Bank said number of notes in circulation is shrinking with rise of digital payment system.</span></p> <p><span style="font-size:16px">“However, number of notes in circulation is still high in the market,”, Poudel shared. <br /> To encourage electronic payment system, the NRB has made it mandatory to use a cheque for the transaction of the amount above Rs 10 million. The central bank has also increased limit for electronic transactions. </span></p> <p><span style="font-size:16px">Real time gross settlement (RTGS), ATMs, electronic cheque clearing, IPS, Connect IPS, Debit/Credit cards, internet banking, wallet, QR code, e-commerce, among other electronic mediums and devices, are being used for digital transaction in Nepal. </span></p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16417', 'image' => '20230106042508_collage (30).jpg', 'article_date' => '2023-01-06 16:19:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '16675', 'article_category_id' => '1', 'title' => 'Rice prices Surge by 15 Per Cent in India ', 'sub_title' => '', 'summary' => 'Prices of rice have surged by 15 per cent in India in the last one month.', 'content' => '<p><br /> January 6: Prices of rice have risen in India. Palm oil has also become costly. Prices of rice have surged by 15 per cent in the last one month, The Economic Times Reported. Prices of palm oil are projected to go up by Rs 5 to 7 per liter in the coming weeks. </p> <p>Basmati variety of rice is selling at a record high of Rs 110 per kg as compared with Rs 95 per kg a month ago. Traders attribute price hike to the millers hoarding rice and paddy in anticipation of better prices in the world market. </p> <p>Analysts are projecting rice prices to become dear after floods in Pakistan damaged the country’s rice crop. The price is jumping despite hardly any orders from Iran, which is India’s biggest market for basmati rice. </p> <p>Prices of other varieties of rice are also surging in the anticipation of drop in rice production. </p> <p>Rice production in 2022-23 is estimated at 104.99 million, which is 6.77 million tonnes less than 111.76 tonnes in 2021-22 in India. </p> <p><br /> </p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16416', 'image' => '20230106104033_collage (29) (1).jpg', 'article_date' => '2023-01-06 10:38:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '16674', 'article_category_id' => '1', 'title' => 'Raya, Ghimire appointed as finance, revenue secretaries ', 'sub_title' => '', 'summary' => 'The government has appointed Toyam Raya and Ram Prasad Ghimire as Finance and Revenue Secretaries respectively. ', 'content' => '<p><br /> January 5: With the formation of the new government after the November 20 general elections, Nepal government has started promotion and transfer of civil servants.</p> <p>A meeting of the Council of Ministers held on Thursday decided to appoint Toyam Raya, Secretary at the Ministry of Industry, Commerce and Supplies as the secretary at the Ministry of Finance. </p> <p>Similarly, the government has appointed Ram Prasad Ghimire as revenue secretary. Earlier, Ghimire was working at the Commission for the Investigation of Abuse of Authority (CIAA).</p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16415', 'image' => '20230105052111_collage (28).jpg', 'article_date' => '2023-01-05 17:18:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '16673', 'article_category_id' => '1', 'title' => 'Prime Minister Dahal Directs to Lower Fuel Prices ', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal on Thursday directed to the Secretary at the Ministry of Industry, Commerce and Supplies to lower the prices of petroleum products.', 'content' => '<p> <br /> January 5: Prime Minister Pushpa Kamal Dahal on Thursday directed to the concerned authorities to lower the prices of petroleum products.</p> <p>The prime minister summoned Secretary Toya Narayan Gyawali of the Ministry of Commerce and Supplies, to the Office of Prime Minister and Council of Ministers and directed him to cut fuel prices, in accordance with the price drop in international market and a revised price list sent by the Indian Oil Corporations. </p> <p>Dahal’s press coordinator Surya Kiran Sharma said that the Prime Minister had instructed the Industry, Commence and Supplies Secretary to slash the prices of petrol, diesel and aviation fuel to give relief to the customers. </p> <p>Secretary at the ministry is the chairperson of the Nepal Oil Corporation. </p> <p>Nepal Oil Corporation is making a profit of around Rs990 million fortnightly as the fuel prices have come down in the international market.</p> <p>However, the state-owned corporation is reluctant to cut the prices, citing huge debt and loan amounting to Rs 18 billion to be paid to the Indian Oil Corporation and to the Nepal government. </p> <p>Prime Minister Dahal had to instruct the secretary to slash the prices after the NOC refused to cut the prices despite tremendous pressure from various quarters. <br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16414', 'image' => '20230105044533_collage (27).jpg', 'article_date' => '2023-01-05 16:40:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '16672', 'article_category_id' => '1', 'title' => 'Nepal Export Council urges Govt to Provide Tax Exemption to Increase Export', 'sub_title' => '', 'summary' => 'January 5: The Nepal Export Council has said that the total export of Nepal has decreased by 34.6 percent in the five months of the current fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The Nepal Export Council has said that the total export of Nepal has decreased by 34.6 percent in the five months of the current fiscal year. Organising a press conference in Bhaktapur on Wednesday, Chairman of the council Resham Bahadur Pokharel said that Nepal's export is now limited to Rs 67.3 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“In the year 2020/21, the total foreign trade of Nepal increased by 26.1 percent compared to the previous year and reached Rs 2120 billion. With the increase in foreign trade, Nepal's total exports also increased by 41.7 percent to 230 billion and imports increased by 24.7 percent to 1920 billion. But in the first five months of 2022/23, the total export of Nepal decreased by 34.6 percent to 67.3 billion. The problems surface because our country's economy is dependent on import rather than export,” said Pokharel</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Demanding that the government produce export-quality goods and provide preferential interest rates to the exporters, he said that the country's economy is not strong due to the import-oriented economy. Pokharel demanded that the state should arrange various exemptions for export-oriented industries for 10 years and emphasized that the procedural hassles to be faced while receiving cash incentives should be ended.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that the government should establish a globally recognized lab for the export of Nepali products to different countries.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government should promote its products through diplomatic missions to compete with the products of the neighobouring countries, said Pokharel.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pokharel pointed out that the export of Nepali products has not increased due to high freight charges, lack of skilled manpower, lack of liquidity, high production costs, transportation costs, and lack of market diversification.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In order to make the import-oriented market export-oriented, he said that the council will organize a large exhibition in Thamel, Kathmandu on January 5 and 6, with 20 stalls of various goods produced in Nepal on the occasion of Export Day. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The council’s 25th Annual General Meeting, Silver Jubilee and the 7th Export Day will be celebrated by the council with the slogan 'Expansion of Exports, Improvement of Economy'.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the press conference, the council's former chairman Naresh Lal Shrestha said that if export-oriented policies are not adopted to strengthen the country's economy, it will not take long for the country to reach the situation of Sri Lanka. He pointed out that the government at all three levels should give priority to export along with diversification of local products.</span></span></span></p> <p> </p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16413', 'image' => '20230105025605_export.jpg', 'article_date' => '2023-01-05 14:55:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16671', 'article_category_id' => '1', 'title' => 'Interest and Parking Fee of Vehicles Stuck at Customs Yards reach almost Rs 1 Billion', 'sub_title' => '', 'summary' => 'January 5: The parking fee of vehicles parked across various customs yards along with the bank interest which the importers are liable to pay have reached almost Rs 1 billion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The parking fee of vehicles parked across various customs yards along with the bank interest which the importers are liable to pay have reached almost Rs 1 billion. About 3,200 vehicles are stuck in Birganj, Bhairahawa and Rasuwagadhi customs, the major customs points of Nepal, since the government restricted the import of luxurious items.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Citing the pressure on the foreign exchange reserves, the government published a notice in the Nepal Gazette on April 26 last year and imposed a ban on the import of 10 luxurious items, including vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The vehicles stranded at the customs points had already arrived in Nepal before the restriction was imposed but the customs clearance of those vehicles has not been possible due to the ban imposed by the government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Customs officials said that most of the vehicles stopped at the customs checkpoint were imported nine months ago while the restriction was imposed eight months ago.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The automobile dealers are at the receiving end due to the government’s policy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dhruba Thapa, president of NADA Automobiles Association of Nepal (NADA), informed New Business Age that on one hand banks and financial institutions are continuously increasing the interest rates after releasing the money for the purchase of vehicles, and on the other hand, they are forced to pay high parking fees for the vehicles stuck at the customs points for 8/9 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NADA said that out of 3,200 vehicles stuck at the customs points, about 3,000 are imported by NADA-affiliated businessmen.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The traders have been paying high parking fees for the vehicles stuck at the customs checkpoint, along with heavy interest on Rs 5 billion spent on imports.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Thapa also said that auto traders are currently paying up to 12 to 15 per cent interest on Rs 5 billion spent on vehicle imports. In this period of 8 to 9 months, the importers are liable to pay around Rs 500 million in interest. Similarly, he said that the average parking fee for 3200 vehicles at the rate of Rs 518 per day for 6 to 9 months has reached almost Rs 350 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that even though the government lifted the ban on import of vehicles this January, they are still unable to obtain customs clearance due to lack of credit from banks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In other words, it seems that the interest and parking fee expenses of the auto traders for the last 8/9 months have reached around Rs 850 to 900 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Among the imported vehicles, the maximum number of vehicles (2002) are stuck at the Birgunj customs. Similarly, 1100 vehicles are stranded at Bhairahawa while the remaining vehicles imported from China are stuck at Tatopani and Rasuwa customs.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16412', 'image' => '20230105024504_20220815011457_1660393906.jpg', 'article_date' => '2023-01-05 14:44:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16670', 'article_category_id' => '1', 'title' => 'Why has the Import of LPG Declined?', 'sub_title' => '', 'summary' => 'January 5: The import of cooking gas (LPG) has been declining in recent days, according to the data made public by the Department Customs.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The import of cooking gas (LPG) has been declining in recent days, according to the data made public by the Department Customs. The reasons for the decline in import of LPG include lack of liquidity, reduction in industrial production, development and construction work not progressing at a fast pace and some industries switching to electricity instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">As of mid-December of current fiscal year, more than 20.63 million kg of LPG was imported in Nepal against the import of 216.7 million kg of LPG last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">There is no reliable data available on how much gas is consumed by the households as well as the commercial and industrial sectors in Nepal. According to Nepal Oil Corporation (NOC), although there is no official data, it is estimated that 25 percent of the total consumption is used in industrial and commercial sectors. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Binit Mani Upadhyaya, spokesperson for NOC said, “Hotels and industries that produce iron, steel, cement and other industries consume LPG. Big industries like Jagdamba, Aarati Strips Pvt Ltd have signed agreement with NOC to avail LPG.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Although the decline in import of LPG is good, Upadhyaya said that it not a matter of excitement as the proportion of decline is very small. There is a possibility that gas consumption may have decreased due to industries cutting their production.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">It is estimated that the demand for gas decreased recently due to increased availability of hydroelectricity. An official of Jagdamba Steel informed New Business Age that production has decreased recently while electricity is gradually replacing LPG.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, cement industries also used LPG, but they now rely on electricity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dhruba Raj Thapa, president of the Cement Manufacturers Association of Nepal, said that the cement industries are reducing the use of gas because they have enough electricity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Government data shows that the pace of development is almost at a standstill in the current fiscal year. According to the Office of the Financial Comptroller General, the government has spent only 11.16 percent of the capital budget so far. Spokesperson Upadhyaya said that due to the fact that more diesel is being consumed in construction projects, the import is low because the construction work is almost at a standstill.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16411', 'image' => '20230105021823_gas.jpg', 'article_date' => '2023-01-05 14:17:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16669', 'article_category_id' => '1', 'title' => 'Visitors Increase by Three Folds in Sagarmatha National Park', 'sub_title' => '', 'summary' => 'January 5: The number of tourists visiting Sagarmatha National Park has increased by more than three folds in the first five months of the current fiscal year compared to the corresponding period of last year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 5: The number of tourists visiting Sagarmatha National Park has increased by more than three folds in the first five months of the current fiscal year compared to the corresponding period of last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Namche-based office of Sagarmatha National Park, a total of 7,464 persons had visited the national park, which is home to the world’s highest peak Mt Everest, during the first five months of last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, 25,029 tourists visited the national park in the first five months of the current fiscal year, according to the national park’s information officer Manoj Mandal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that a total of 21,853 foreigners and 3,176 Nepalis visited the Everest region during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Among the foreign visitors, 1990 were from the SAARC countries while the remaining visitors were from other countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The national park collected revenue worth Rs 35.5 million in the first five months of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The park charges Rs 3000 per person in case the visitor is a foreign national. Similarly, it charges Rs 1500 for visitors from SAARC countries and Rs 100 for Nepalis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of visitors during last year was less due to the impact of Covid-19 and restrictions imposed by the government. After the restrictions were lifted, the number of visitors increased significantly, informed the park officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sagarmatha National Park was established in 1976 and covers an area of 1148 square kilometers in Solukhumbu district of eastern Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides having the world’s highest peak Everest, the national park also boasts of other towering peaks such as Lhotse, Nupse, Cho Oyu, Pumori, Ama Dablam, Thamsherku, Numbur, Cholatse, Lobuche among others.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16410', 'image' => '20230105114150_khumbu-valley.jpg', 'article_date' => '2023-01-05 11:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16668', 'article_category_id' => '1', 'title' => 'Home Ministry Issues Decree to Shut Down Illegally Operating Crusher Industries ', 'sub_title' => '', 'summary' => 'Ministry of Home Affairs on Wednesday issued a circular to all district administration offices to shut down crusher industries operating illegally.', 'content' => '<p><span style="font-size:18px">January 5: Ministry of Home Affairs on Wednesday issued a circular to all district administration offices to shut down crusher industries operating illegally. </span></p> <p><span style="font-size:18px">The Home Ministry has issued circular to all 77 district administration offices to shut down crusher industries involved in illegally quarrying and excavating the sand, boulder and stones. </span></p> <p><span style="font-size:18px">Similarly, the ministry has also asked the DAOs to investigate and immediately shut down crusher industries that were granted permission to excavate and process the stone, boulders and sand for different development and construction projects if they have continued quarrying works even after the completion of those projects. </span></p> <p><span style="font-size:18px">Spokesperson Phadindramani Pokhrel at the Ministry of Home Affairs said that DAOs would be powered to monitor the crusher industries. </span></p> <p><span style="font-size:18px">“Crusher industries operating without permission, and renewal and industries that have continued even after the completion of development projects will be shut down”, Pokhrel added. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16409', 'image' => '20230105112602_collage (22).jpg', 'article_date' => '2023-01-05 10:48:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '16667', 'article_category_id' => '1', 'title' => 'Dust from Sugar Industry Creating Health Hazard ', 'sub_title' => '', 'summary' => 'January 5: Dust from the Lubmini Sugar Industry at Sunwal in Nawalparasi (Bardaghat Susta West) is impacting the health of the people, complained the local residents. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 5: Dust from the Lubmini Sugar Industry at Sunwal in Nawalparasi (Bardaghat Susta West) is impacting the health of the people, complained the local residents. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dust emanating from sugarcane crushers used by the industry and other harmful particles have been affecting the health of the locals, said Bimala Aryal, mayor of Sunwal Municipality. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The local government has drawn the attention of the industry to the issue, she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Preparations are underway to organise talks with the management team after our concerns have remained unheard so far. We have demanded that the industry should operate without affecting the locals and the environment," she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals of the area have also been affected in various other ways due to the industry. People's mobility has been restricted, while dust from the industry have been affecting crops, they complained. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kush Subedi, the industry's administrative chief, said that they have already initiated the process to purchase the equipment to control dust. "The problem will be resolved in a few day," he said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16408', 'image' => '20230105104420_312051785_182395174300702_8648373783323486733_n.jpg', 'article_date' => '2023-01-05 10:43:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16666', 'article_category_id' => '1', 'title' => 'Jungle Safari Track Set to Open From Nawalpur to Chitwan National Park ', 'sub_title' => '', 'summary' => 'Preparations are underway to open a track for jungle safari in Nawalparasi, east of Bardaghat Susta, inside the Chitwan National Park. ', 'content' => '<p><br /> <span style="font-size:18px">January 4: Preparations are underway to open a track for jungle safari in Nawalparasi, east of Bardaghat Susta, inside the Chitwan National Park. </span></p> <p><span style="font-size:18px">The new track will pave the route for jungle safari to Chitwan National Park from Nawalparasi for the first time.</span></p> <p><span style="font-size:18px">Till date, jungle safaris are being operated in the intermediate(madhyawarti) community forests of the district only. </span></p> <p><span style="font-size:18px">After the new track is opened, jungle safaris will be operated in the core area of the Chitwan National Park. The track runs through Nawalparasi’s Sikharauli, Sishwar and Lamichaur intermediate(madhyawarti) areas. </span><br /> </p> <p><span style="font-size:18px">The new track will connect Gaindakot Municipality, Devchuli Municipality and Kawasoti Municipality, according to Devchuli Municipality Chief Hari Prasad Neupane. </span></p> <p><span style="font-size:18px">Chitwan National Park, Homestay and Hotel Association Nawalpur, Devchuli Municipality and Sishwar Madhyawarti Consumers’ Committee have agreed to collaborate for the track construction.</span></p> <p><span style="font-size:18px">“The new track meant for jungle safari in the core area of the Chitwan National Park will play a big role for Nawalpur’s tourism promotion. So, we have taken this as an opportunity for our new identity,” Neupane shared. </span></p> <p><span style="font-size:18px">According to Chairman Ganesh Sharma of Devchuli Municipality ward no-17, they are preparing to declare the area a tourist zone this year. </span></p> <p><span style="font-size:18px">“Since Devchuli Municipality has immense potential for tourism. We are planning to announce area tourist zone at the earliest,” Sharma added. </span></p> <p><span style="font-size:18px">“Track construction for the jungle safari has started off and we will take tourists for jungle safari at Fourth Devchuli Festival slated to be held in one month’s time,” Sharma shared. </span></p> <p><span style="font-size:18px">Locals are elated that new track for jungle safari from Nawalparasi will open new doors of opportunities for their livelihood and income generation. </span></p> <p><span style="font-size:18px">“New tourism opportunities will directly help for people’s income and life,” said Sishwar Users’ Committee Chairman Netra Bahadur Pandey. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16407', 'image' => '20230105062248_collage (21).jpg', 'article_date' => '2023-01-05 06:17:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '16665', 'article_category_id' => '218', 'title' => 'NRB Revises Working Capital Loan Guideline-2079 ', 'sub_title' => '', 'summary' => 'Just two-and-a-half- month after it came into effect, Nepal Rastra Bank has revised ‘Working Capital Loan Guideline-2079’. NRB took the decision to this effect at the directive of Prime Minister Pushpa Kamal Dahal.', 'content' => '<p> </p> <p>January 4: Just two-and-a-half- month after it came into effect, Nepal Rastra Bank has revised ‘Working Capital Loan Guideline-2079’. <br /> NRB took the decision to this effect at the directive of Prime Minister Pushpa Kamal Dahal. </p> <p>Ever since Pushpa Kamal Dahal was appointed as Prime Minister, different umbrella organizations of businesses had been lobbying him to revise the new rule of working capital loan.</p> <p>On Wednesday morning, Prime Minister Dahal had held meeting with Finance Minister Bishnu Prasad Poudel and Nepal Rastra Bank’s Governor Maha Prasad Adhikari regarding the same matter. </p> <p>In a virtual press meet, the Nepal Rastra Bank had notified revisions made in connection with the rule of working capital loan. <br /> Since the introduction of the working capital loan guideline by the NRB for financial discipline and stability, industrialists, entrepreneurs and traders had been protesting against it. </p> <p>With the revisions, NRB will not implement the provisions to provide loan based on current assets and annual turnover amount only. Businessmen that have borrowed more than the limit can repay the debt in five installments by Ashad 2082. </p> <p>While determining the limit of periodic loans for working capital purposes, at least 3 years of estimated financial statements and at least 3 years of audited statements should be analyzed in accordance with working capital loan policy.</p> <p>The new rule came into implementation from October 18, 2022. </p> <p>Working capital loan is provided to the firms, organizations and companies to cover their short-term operational needs.</p> <p>Earlier, Nepal Rastra Bank officials had been defending the new rule of working capital loan saying that businessmen and entrepreneurs were using the loan to invest in the stock market and real estate. </p> <p>NRB Governor Maha Prasad Adhikari was reluctant even to hear the word revision of the rule of working capital loan during Sher Bahadur Deuba-led government’s tenure.</p> <p>After CPN-UML bagged the Ministry of Finance, Adhikari revised the provisions related to the working capital loan on the ninth day of the formation of the new government. </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16406', 'image' => '20230104050250_collage (26).jpg', 'article_date' => '2023-01-04 16:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '16664', 'article_category_id' => '1', 'title' => 'Construction Business Slumps due to Lack of Capital Expenditure: CNI', 'sub_title' => '', 'summary' => 'January 4: The Confederation of Nepalese Industry (CNI) has said that there has been a slump in the construction sector due to the inability to increase expenditure for the development of infrastructure.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 4: The Confederation of Nepalese Industry (CNI) has said that there has been a slump in the construction sector due to the inability to increase expenditure for the development of infrastructure. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CNI President Vishnu Kumar Agarwal, during a meeting with Deputy Prime Minister and Minister for Physical Infrastructure and Transport Narayankaji Shrestha on Tuesday, informed that all the sectors related to construction business, are facing recession due to the slowdown in the infrastructure development.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CNI also requested Deputy Prime Minister to increase the development expenditure. The team led by the CNI president Agarwal emphasized the need to increase the development expenditure and start revitalizing the economic sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal also pointed out the need to promote investment in the infrastructure sector. Adding that there is less investment in the construction sector, he said that the overall infrastructure industry has slowed down due to low capital expenditure.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that when the infrastructure sector faces a slowdown, all the other related sectors also face a slowdown. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal also urged the Deputy Prime Minister to coordinate with the Ministry of Finance to speed up the payments due to the builders. He added that the development projects should be completed quickly by allocating the required budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He also presented a concept with clear steps to be taken immediately to restore momentum to the country's economy, which is in crisis.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the meeting, CNI suggested measures to be taken immediately by prioritizing the financial sector, industry, infrastructure, tourism, energy and information technology sectors to speed up the economy again.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In response, Deputy Prime Minister Shrestha said that the suggestions are important for the improvement of the economy. He said that the government will move forward by addressing such problems. </span></span></span></p> <p><br /> <br /> <br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16405', 'image' => '20230104042402_Untitled.jpg', 'article_date' => '2023-01-04 16:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16662', 'article_category_id' => '1', 'title' => '50,000 Tons of Wheat Arriving from India', 'sub_title' => '', 'summary' => 'January 4: The Government of India is preparing to send 50,000 metric tons of wheat to Nepal in the first lot after collecting the details of the wheat required by Nepal's industry.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 4: The Government of India is preparing to send 50,000 metric tons of wheat to Nepal in the first lot after collecting the details of the wheat required by Nepal's industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Kumud Dugad, central president of Nepal Flour Mills Association, said that the industries of Nepal require 250,000 tons of wheat by mid-April. But even if 50,000 metric tons comes in the first batch, there will be some relief.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dugad said that the import was delayed because accurate data was not sent to the Indian government on time. He informed New Business Age that the data of the Ministry of Agriculture and Livestock Development showed that Nepal produced 2.9 million tons of wheat and the Indian side assumed that there is enough stock of wheat in Nepal based on the same data. The problem surfaced because they did not show interest in opening the export immediately.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Dugad, the price of flour in Nepal will drop by Rs 10 per kilogram after importing wheat from India. The current price of wheat in Nepal is Rs 52 per kg. Similarly, fine flour costs Rs 70, common flour Rs 76, semolina Rs 80 and bran Rs 46 per kg without VAT.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The price of wheat in India is INR 28.50 per kg, fine flour INR 32, common flour INR 34, and bran INR 28 per kg. A kilogram of wheat is Rs 5.40 cheaper in India than in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A total of 28 mills in Nepal need 250,000 tons of wheat for three months. Bikas Begwani, vice president of Morang Trade Association stated that for the next year, the government should fix the quota in consultation with the Indian government and arrange the wheat required for the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Due to the shortage of wheat, the production of most of the flour mills in Nepal has been limited to 20 to 40 percent. At this time, the price of flour in India and Nepal differs by Rs 300 per quintal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhavesh Rathi, a member of the Confederation of Nepalese Industry and the owner of Baba Flour Mill, says that due to this, there will be an increase in smuggling and the domestic industry will be in further crisis.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Citing the Russia-Ukraine war, India had imposed a ban on wheat export eight months ago. Before the ban, the price of fine flour in Nepal was Rs 50 per kg, common flour was Rs 55 per kg, semolina was Rs 60 per kg and bran was Rs 38 per kg.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16403', 'image' => '20230104031551_wheatttttt.jpg', 'article_date' => '2023-01-04 15:15:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '16677', 'article_category_id' => '1', 'title' => 'International Festival and Agriculture Fair to Kick off in Kathmandu From February 14', 'sub_title' => '', 'summary' => 'Federation of Nepali Cottage and Small Industries will be hosting “Sixteenth International Festival and Sixth Organic Agriculture Fair 2079 at Bhrikutimandap in Kathmandu from February 14.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">January 6: An industrial exhibition will be organized at Bhrikutimandap in Kathmandu from February 14. Federation of Nepali Cottage and Small Industries will be hosting “Sixteenth International Festival and Sixth Organic Agriculture Fair 2079 at Bhrikutimandap in Kathmandu from February 14. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation informed that it is hosting the fair to promote domestic production. The federation has set the slogan "Let's use Nepali products, let's be proud of being Nepali and hard work, creation, production and products of my Nepal". </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the Federation, the exhibition will include the products from all types of industries operating in Nepal in order to showcase the current situation of small, domestic and cottage industries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Entrepreneurs from all provinces and districts of Nepal, and SAARC countries, including India, Pakistan, Bangladesh and China will participate in the exhibition.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The exhibition will have as many as 200 stalls. President of Federation of Nepali Cottage and Small Industries Umesh Prasad Singh said the fair will be an important medium to make Nepal's organic products export-oriented and attract international businessmen and entrepreneurs to the country. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Singh, organic agricultural products will be exhibited in a separate pavilion in collaboration with Organic Association of Nepal, which is one of the co-organizers of the event.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Ministry of Industry, Commerce and Supplies, Trade and Export Promotion Center, Ministry of Women, Children and Senior Citizens, Bagmati Province government, and Sudurpaschim Province government are co-organizers of the industrial exhibition.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16418', 'image' => '20230106055136_collage (34).jpg', 'article_date' => '2023-01-06 17:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '16676', 'article_category_id' => '1', 'title' => 'Use of Bank Notes Declining', 'sub_title' => '', 'summary' => 'Circulation of bank notes is decreasing in the market due to the public attraction towards digital payment and the government's encouragement for electronic payment systems. ', 'content' => '<p><br /> <br /> <span style="font-size:16px">January 6: Circulation of bank notes is decreasing in the market due to the public attraction towards digital payment and the government's encouragement for electronic payment systems. </span></p> <p><span style="font-size:16px">The number of users of electronic payment devices and transactions is increasing. Similarly, Nepal Rastra Bank's data shows that the use of physical cash is falling in the market. </span></p> <p><span style="font-size:16px">According to NRB, by the end of Mangisr 2079, notes worth Rs 616 billion were in circulation in the market. During the same period last year, notes worth of Rs 654 billion were in circulation. This shows that circulation of physical cash has declined by Rs 38 billion in one year. </span></p> <p><span style="font-size:16px">The statistics at the NRB show that notes worth Rs 671 billion were in circulation on average per month in the first five months of 2078/79, while in the first five months of the current fiscal year, notes worth Rs 617 billion were in circulation on average per month. </span></p> <p><span style="font-size:16px">The fifth month of the current fiscal year saw the drop in the circulation of notes by Rs 15 billion compared to the fourth month. In the fourth month of the current fiscal, notes worth Rs 631 billion were in circulation in the market. </span></p> <p><span style="font-size:16px">The number of notes in circulation has decreased every month, except the month of Ashoj due to festivals such as Dashain and Tihar in the current fiscal year, according to the financial statements published by the central bank.</span></p> <p><span style="font-size:16px">NRB sends new notes to the market at Dashain every year. Since people spend more during the festival, circulation of the notes is more as well. The NRB issued notes worth Rs 16 billion to the market at this year’s Dashain. Apart from it, the market saw an increase of bank notes worth Rs 35 billion.</span></p> <p><span style="font-size:16px">With the celebration of festivals over, the notes in circulation had started to return to the banking system from Kartik. Circulation of notes has dropped by Rs 33 billion in the fourth and fifth months of the current fiscal. </span></p> <p><span style="font-size:16px">According to the NRB, among the notes of different denominations in circulation in the market, note of Rs 5 denomination is the highest in in the number. By the end of last fiscal year, notes worth Rs 670 million of 5 denomination were in the market.</span></p> <p><span style="font-size:16px">In terms of monetary value, notes of Rs 1000 denomination beat other notes in circulation. <br /> Notes worth Rs 443 billion of one thousand denominations are in the market. Similarly, the notes worth Rs 260 million of Rs 500 denominations are in circulation.</span></p> <p><span style="font-size:16px">Guru Prasad Poudel, Executive Director at Payment System Department of Nepal Rastra Bank said number of notes in circulation is shrinking with rise of digital payment system.</span></p> <p><span style="font-size:16px">“However, number of notes in circulation is still high in the market,”, Poudel shared. <br /> To encourage electronic payment system, the NRB has made it mandatory to use a cheque for the transaction of the amount above Rs 10 million. The central bank has also increased limit for electronic transactions. </span></p> <p><span style="font-size:16px">Real time gross settlement (RTGS), ATMs, electronic cheque clearing, IPS, Connect IPS, Debit/Credit cards, internet banking, wallet, QR code, e-commerce, among other electronic mediums and devices, are being used for digital transaction in Nepal. </span></p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16417', 'image' => '20230106042508_collage (30).jpg', 'article_date' => '2023-01-06 16:19:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '16675', 'article_category_id' => '1', 'title' => 'Rice prices Surge by 15 Per Cent in India ', 'sub_title' => '', 'summary' => 'Prices of rice have surged by 15 per cent in India in the last one month.', 'content' => '<p><br /> January 6: Prices of rice have risen in India. Palm oil has also become costly. Prices of rice have surged by 15 per cent in the last one month, The Economic Times Reported. Prices of palm oil are projected to go up by Rs 5 to 7 per liter in the coming weeks. </p> <p>Basmati variety of rice is selling at a record high of Rs 110 per kg as compared with Rs 95 per kg a month ago. Traders attribute price hike to the millers hoarding rice and paddy in anticipation of better prices in the world market. </p> <p>Analysts are projecting rice prices to become dear after floods in Pakistan damaged the country’s rice crop. The price is jumping despite hardly any orders from Iran, which is India’s biggest market for basmati rice. </p> <p>Prices of other varieties of rice are also surging in the anticipation of drop in rice production. </p> <p>Rice production in 2022-23 is estimated at 104.99 million, which is 6.77 million tonnes less than 111.76 tonnes in 2021-22 in India. </p> <p><br /> </p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16416', 'image' => '20230106104033_collage (29) (1).jpg', 'article_date' => '2023-01-06 10:38:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '16674', 'article_category_id' => '1', 'title' => 'Raya, Ghimire appointed as finance, revenue secretaries ', 'sub_title' => '', 'summary' => 'The government has appointed Toyam Raya and Ram Prasad Ghimire as Finance and Revenue Secretaries respectively. ', 'content' => '<p><br /> January 5: With the formation of the new government after the November 20 general elections, Nepal government has started promotion and transfer of civil servants.</p> <p>A meeting of the Council of Ministers held on Thursday decided to appoint Toyam Raya, Secretary at the Ministry of Industry, Commerce and Supplies as the secretary at the Ministry of Finance. </p> <p>Similarly, the government has appointed Ram Prasad Ghimire as revenue secretary. Earlier, Ghimire was working at the Commission for the Investigation of Abuse of Authority (CIAA).</p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16415', 'image' => '20230105052111_collage (28).jpg', 'article_date' => '2023-01-05 17:18:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '16673', 'article_category_id' => '1', 'title' => 'Prime Minister Dahal Directs to Lower Fuel Prices ', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal on Thursday directed to the Secretary at the Ministry of Industry, Commerce and Supplies to lower the prices of petroleum products.', 'content' => '<p> <br /> January 5: Prime Minister Pushpa Kamal Dahal on Thursday directed to the concerned authorities to lower the prices of petroleum products.</p> <p>The prime minister summoned Secretary Toya Narayan Gyawali of the Ministry of Commerce and Supplies, to the Office of Prime Minister and Council of Ministers and directed him to cut fuel prices, in accordance with the price drop in international market and a revised price list sent by the Indian Oil Corporations. </p> <p>Dahal’s press coordinator Surya Kiran Sharma said that the Prime Minister had instructed the Industry, Commence and Supplies Secretary to slash the prices of petrol, diesel and aviation fuel to give relief to the customers. </p> <p>Secretary at the ministry is the chairperson of the Nepal Oil Corporation. </p> <p>Nepal Oil Corporation is making a profit of around Rs990 million fortnightly as the fuel prices have come down in the international market.</p> <p>However, the state-owned corporation is reluctant to cut the prices, citing huge debt and loan amounting to Rs 18 billion to be paid to the Indian Oil Corporation and to the Nepal government. </p> <p>Prime Minister Dahal had to instruct the secretary to slash the prices after the NOC refused to cut the prices despite tremendous pressure from various quarters. <br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16414', 'image' => '20230105044533_collage (27).jpg', 'article_date' => '2023-01-05 16:40:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '16672', 'article_category_id' => '1', 'title' => 'Nepal Export Council urges Govt to Provide Tax Exemption to Increase Export', 'sub_title' => '', 'summary' => 'January 5: The Nepal Export Council has said that the total export of Nepal has decreased by 34.6 percent in the five months of the current fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The Nepal Export Council has said that the total export of Nepal has decreased by 34.6 percent in the five months of the current fiscal year. Organising a press conference in Bhaktapur on Wednesday, Chairman of the council Resham Bahadur Pokharel said that Nepal's export is now limited to Rs 67.3 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“In the year 2020/21, the total foreign trade of Nepal increased by 26.1 percent compared to the previous year and reached Rs 2120 billion. With the increase in foreign trade, Nepal's total exports also increased by 41.7 percent to 230 billion and imports increased by 24.7 percent to 1920 billion. But in the first five months of 2022/23, the total export of Nepal decreased by 34.6 percent to 67.3 billion. The problems surface because our country's economy is dependent on import rather than export,” said Pokharel</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Demanding that the government produce export-quality goods and provide preferential interest rates to the exporters, he said that the country's economy is not strong due to the import-oriented economy. Pokharel demanded that the state should arrange various exemptions for export-oriented industries for 10 years and emphasized that the procedural hassles to be faced while receiving cash incentives should be ended.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that the government should establish a globally recognized lab for the export of Nepali products to different countries.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government should promote its products through diplomatic missions to compete with the products of the neighobouring countries, said Pokharel.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pokharel pointed out that the export of Nepali products has not increased due to high freight charges, lack of skilled manpower, lack of liquidity, high production costs, transportation costs, and lack of market diversification.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In order to make the import-oriented market export-oriented, he said that the council will organize a large exhibition in Thamel, Kathmandu on January 5 and 6, with 20 stalls of various goods produced in Nepal on the occasion of Export Day. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The council’s 25th Annual General Meeting, Silver Jubilee and the 7th Export Day will be celebrated by the council with the slogan 'Expansion of Exports, Improvement of Economy'.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the press conference, the council's former chairman Naresh Lal Shrestha said that if export-oriented policies are not adopted to strengthen the country's economy, it will not take long for the country to reach the situation of Sri Lanka. He pointed out that the government at all three levels should give priority to export along with diversification of local products.</span></span></span></p> <p> </p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16413', 'image' => '20230105025605_export.jpg', 'article_date' => '2023-01-05 14:55:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16671', 'article_category_id' => '1', 'title' => 'Interest and Parking Fee of Vehicles Stuck at Customs Yards reach almost Rs 1 Billion', 'sub_title' => '', 'summary' => 'January 5: The parking fee of vehicles parked across various customs yards along with the bank interest which the importers are liable to pay have reached almost Rs 1 billion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The parking fee of vehicles parked across various customs yards along with the bank interest which the importers are liable to pay have reached almost Rs 1 billion. About 3,200 vehicles are stuck in Birganj, Bhairahawa and Rasuwagadhi customs, the major customs points of Nepal, since the government restricted the import of luxurious items.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Citing the pressure on the foreign exchange reserves, the government published a notice in the Nepal Gazette on April 26 last year and imposed a ban on the import of 10 luxurious items, including vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The vehicles stranded at the customs points had already arrived in Nepal before the restriction was imposed but the customs clearance of those vehicles has not been possible due to the ban imposed by the government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Customs officials said that most of the vehicles stopped at the customs checkpoint were imported nine months ago while the restriction was imposed eight months ago.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The automobile dealers are at the receiving end due to the government’s policy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dhruba Thapa, president of NADA Automobiles Association of Nepal (NADA), informed New Business Age that on one hand banks and financial institutions are continuously increasing the interest rates after releasing the money for the purchase of vehicles, and on the other hand, they are forced to pay high parking fees for the vehicles stuck at the customs points for 8/9 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NADA said that out of 3,200 vehicles stuck at the customs points, about 3,000 are imported by NADA-affiliated businessmen.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The traders have been paying high parking fees for the vehicles stuck at the customs checkpoint, along with heavy interest on Rs 5 billion spent on imports.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Thapa also said that auto traders are currently paying up to 12 to 15 per cent interest on Rs 5 billion spent on vehicle imports. In this period of 8 to 9 months, the importers are liable to pay around Rs 500 million in interest. Similarly, he said that the average parking fee for 3200 vehicles at the rate of Rs 518 per day for 6 to 9 months has reached almost Rs 350 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that even though the government lifted the ban on import of vehicles this January, they are still unable to obtain customs clearance due to lack of credit from banks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In other words, it seems that the interest and parking fee expenses of the auto traders for the last 8/9 months have reached around Rs 850 to 900 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Among the imported vehicles, the maximum number of vehicles (2002) are stuck at the Birgunj customs. Similarly, 1100 vehicles are stranded at Bhairahawa while the remaining vehicles imported from China are stuck at Tatopani and Rasuwa customs.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16412', 'image' => '20230105024504_20220815011457_1660393906.jpg', 'article_date' => '2023-01-05 14:44:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16670', 'article_category_id' => '1', 'title' => 'Why has the Import of LPG Declined?', 'sub_title' => '', 'summary' => 'January 5: The import of cooking gas (LPG) has been declining in recent days, according to the data made public by the Department Customs.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The import of cooking gas (LPG) has been declining in recent days, according to the data made public by the Department Customs. The reasons for the decline in import of LPG include lack of liquidity, reduction in industrial production, development and construction work not progressing at a fast pace and some industries switching to electricity instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">As of mid-December of current fiscal year, more than 20.63 million kg of LPG was imported in Nepal against the import of 216.7 million kg of LPG last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">There is no reliable data available on how much gas is consumed by the households as well as the commercial and industrial sectors in Nepal. According to Nepal Oil Corporation (NOC), although there is no official data, it is estimated that 25 percent of the total consumption is used in industrial and commercial sectors. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Binit Mani Upadhyaya, spokesperson for NOC said, “Hotels and industries that produce iron, steel, cement and other industries consume LPG. Big industries like Jagdamba, Aarati Strips Pvt Ltd have signed agreement with NOC to avail LPG.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Although the decline in import of LPG is good, Upadhyaya said that it not a matter of excitement as the proportion of decline is very small. There is a possibility that gas consumption may have decreased due to industries cutting their production.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">It is estimated that the demand for gas decreased recently due to increased availability of hydroelectricity. An official of Jagdamba Steel informed New Business Age that production has decreased recently while electricity is gradually replacing LPG.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, cement industries also used LPG, but they now rely on electricity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dhruba Raj Thapa, president of the Cement Manufacturers Association of Nepal, said that the cement industries are reducing the use of gas because they have enough electricity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Government data shows that the pace of development is almost at a standstill in the current fiscal year. According to the Office of the Financial Comptroller General, the government has spent only 11.16 percent of the capital budget so far. Spokesperson Upadhyaya said that due to the fact that more diesel is being consumed in construction projects, the import is low because the construction work is almost at a standstill.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16411', 'image' => '20230105021823_gas.jpg', 'article_date' => '2023-01-05 14:17:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16669', 'article_category_id' => '1', 'title' => 'Visitors Increase by Three Folds in Sagarmatha National Park', 'sub_title' => '', 'summary' => 'January 5: The number of tourists visiting Sagarmatha National Park has increased by more than three folds in the first five months of the current fiscal year compared to the corresponding period of last year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 5: The number of tourists visiting Sagarmatha National Park has increased by more than three folds in the first five months of the current fiscal year compared to the corresponding period of last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Namche-based office of Sagarmatha National Park, a total of 7,464 persons had visited the national park, which is home to the world’s highest peak Mt Everest, during the first five months of last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, 25,029 tourists visited the national park in the first five months of the current fiscal year, according to the national park’s information officer Manoj Mandal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that a total of 21,853 foreigners and 3,176 Nepalis visited the Everest region during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Among the foreign visitors, 1990 were from the SAARC countries while the remaining visitors were from other countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The national park collected revenue worth Rs 35.5 million in the first five months of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The park charges Rs 3000 per person in case the visitor is a foreign national. Similarly, it charges Rs 1500 for visitors from SAARC countries and Rs 100 for Nepalis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of visitors during last year was less due to the impact of Covid-19 and restrictions imposed by the government. After the restrictions were lifted, the number of visitors increased significantly, informed the park officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sagarmatha National Park was established in 1976 and covers an area of 1148 square kilometers in Solukhumbu district of eastern Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides having the world’s highest peak Everest, the national park also boasts of other towering peaks such as Lhotse, Nupse, Cho Oyu, Pumori, Ama Dablam, Thamsherku, Numbur, Cholatse, Lobuche among others.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16410', 'image' => '20230105114150_khumbu-valley.jpg', 'article_date' => '2023-01-05 11:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16668', 'article_category_id' => '1', 'title' => 'Home Ministry Issues Decree to Shut Down Illegally Operating Crusher Industries ', 'sub_title' => '', 'summary' => 'Ministry of Home Affairs on Wednesday issued a circular to all district administration offices to shut down crusher industries operating illegally.', 'content' => '<p><span style="font-size:18px">January 5: Ministry of Home Affairs on Wednesday issued a circular to all district administration offices to shut down crusher industries operating illegally. </span></p> <p><span style="font-size:18px">The Home Ministry has issued circular to all 77 district administration offices to shut down crusher industries involved in illegally quarrying and excavating the sand, boulder and stones. </span></p> <p><span style="font-size:18px">Similarly, the ministry has also asked the DAOs to investigate and immediately shut down crusher industries that were granted permission to excavate and process the stone, boulders and sand for different development and construction projects if they have continued quarrying works even after the completion of those projects. </span></p> <p><span style="font-size:18px">Spokesperson Phadindramani Pokhrel at the Ministry of Home Affairs said that DAOs would be powered to monitor the crusher industries. </span></p> <p><span style="font-size:18px">“Crusher industries operating without permission, and renewal and industries that have continued even after the completion of development projects will be shut down”, Pokhrel added. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16409', 'image' => '20230105112602_collage (22).jpg', 'article_date' => '2023-01-05 10:48:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '16667', 'article_category_id' => '1', 'title' => 'Dust from Sugar Industry Creating Health Hazard ', 'sub_title' => '', 'summary' => 'January 5: Dust from the Lubmini Sugar Industry at Sunwal in Nawalparasi (Bardaghat Susta West) is impacting the health of the people, complained the local residents. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 5: Dust from the Lubmini Sugar Industry at Sunwal in Nawalparasi (Bardaghat Susta West) is impacting the health of the people, complained the local residents. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dust emanating from sugarcane crushers used by the industry and other harmful particles have been affecting the health of the locals, said Bimala Aryal, mayor of Sunwal Municipality. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The local government has drawn the attention of the industry to the issue, she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Preparations are underway to organise talks with the management team after our concerns have remained unheard so far. We have demanded that the industry should operate without affecting the locals and the environment," she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals of the area have also been affected in various other ways due to the industry. People's mobility has been restricted, while dust from the industry have been affecting crops, they complained. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kush Subedi, the industry's administrative chief, said that they have already initiated the process to purchase the equipment to control dust. "The problem will be resolved in a few day," he said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16408', 'image' => '20230105104420_312051785_182395174300702_8648373783323486733_n.jpg', 'article_date' => '2023-01-05 10:43:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16666', 'article_category_id' => '1', 'title' => 'Jungle Safari Track Set to Open From Nawalpur to Chitwan National Park ', 'sub_title' => '', 'summary' => 'Preparations are underway to open a track for jungle safari in Nawalparasi, east of Bardaghat Susta, inside the Chitwan National Park. ', 'content' => '<p><br /> <span style="font-size:18px">January 4: Preparations are underway to open a track for jungle safari in Nawalparasi, east of Bardaghat Susta, inside the Chitwan National Park. </span></p> <p><span style="font-size:18px">The new track will pave the route for jungle safari to Chitwan National Park from Nawalparasi for the first time.</span></p> <p><span style="font-size:18px">Till date, jungle safaris are being operated in the intermediate(madhyawarti) community forests of the district only. </span></p> <p><span style="font-size:18px">After the new track is opened, jungle safaris will be operated in the core area of the Chitwan National Park. The track runs through Nawalparasi’s Sikharauli, Sishwar and Lamichaur intermediate(madhyawarti) areas. </span><br /> </p> <p><span style="font-size:18px">The new track will connect Gaindakot Municipality, Devchuli Municipality and Kawasoti Municipality, according to Devchuli Municipality Chief Hari Prasad Neupane. </span></p> <p><span style="font-size:18px">Chitwan National Park, Homestay and Hotel Association Nawalpur, Devchuli Municipality and Sishwar Madhyawarti Consumers’ Committee have agreed to collaborate for the track construction.</span></p> <p><span style="font-size:18px">“The new track meant for jungle safari in the core area of the Chitwan National Park will play a big role for Nawalpur’s tourism promotion. So, we have taken this as an opportunity for our new identity,” Neupane shared. </span></p> <p><span style="font-size:18px">According to Chairman Ganesh Sharma of Devchuli Municipality ward no-17, they are preparing to declare the area a tourist zone this year. </span></p> <p><span style="font-size:18px">“Since Devchuli Municipality has immense potential for tourism. We are planning to announce area tourist zone at the earliest,” Sharma added. </span></p> <p><span style="font-size:18px">“Track construction for the jungle safari has started off and we will take tourists for jungle safari at Fourth Devchuli Festival slated to be held in one month’s time,” Sharma shared. </span></p> <p><span style="font-size:18px">Locals are elated that new track for jungle safari from Nawalparasi will open new doors of opportunities for their livelihood and income generation. </span></p> <p><span style="font-size:18px">“New tourism opportunities will directly help for people’s income and life,” said Sishwar Users’ Committee Chairman Netra Bahadur Pandey. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16407', 'image' => '20230105062248_collage (21).jpg', 'article_date' => '2023-01-05 06:17:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '16665', 'article_category_id' => '218', 'title' => 'NRB Revises Working Capital Loan Guideline-2079 ', 'sub_title' => '', 'summary' => 'Just two-and-a-half- month after it came into effect, Nepal Rastra Bank has revised ‘Working Capital Loan Guideline-2079’. NRB took the decision to this effect at the directive of Prime Minister Pushpa Kamal Dahal.', 'content' => '<p> </p> <p>January 4: Just two-and-a-half- month after it came into effect, Nepal Rastra Bank has revised ‘Working Capital Loan Guideline-2079’. <br /> NRB took the decision to this effect at the directive of Prime Minister Pushpa Kamal Dahal. </p> <p>Ever since Pushpa Kamal Dahal was appointed as Prime Minister, different umbrella organizations of businesses had been lobbying him to revise the new rule of working capital loan.</p> <p>On Wednesday morning, Prime Minister Dahal had held meeting with Finance Minister Bishnu Prasad Poudel and Nepal Rastra Bank’s Governor Maha Prasad Adhikari regarding the same matter. </p> <p>In a virtual press meet, the Nepal Rastra Bank had notified revisions made in connection with the rule of working capital loan. <br /> Since the introduction of the working capital loan guideline by the NRB for financial discipline and stability, industrialists, entrepreneurs and traders had been protesting against it. </p> <p>With the revisions, NRB will not implement the provisions to provide loan based on current assets and annual turnover amount only. Businessmen that have borrowed more than the limit can repay the debt in five installments by Ashad 2082. </p> <p>While determining the limit of periodic loans for working capital purposes, at least 3 years of estimated financial statements and at least 3 years of audited statements should be analyzed in accordance with working capital loan policy.</p> <p>The new rule came into implementation from October 18, 2022. </p> <p>Working capital loan is provided to the firms, organizations and companies to cover their short-term operational needs.</p> <p>Earlier, Nepal Rastra Bank officials had been defending the new rule of working capital loan saying that businessmen and entrepreneurs were using the loan to invest in the stock market and real estate. </p> <p>NRB Governor Maha Prasad Adhikari was reluctant even to hear the word revision of the rule of working capital loan during Sher Bahadur Deuba-led government’s tenure.</p> <p>After CPN-UML bagged the Ministry of Finance, Adhikari revised the provisions related to the working capital loan on the ninth day of the formation of the new government. </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16406', 'image' => '20230104050250_collage (26).jpg', 'article_date' => '2023-01-04 16:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '16664', 'article_category_id' => '1', 'title' => 'Construction Business Slumps due to Lack of Capital Expenditure: CNI', 'sub_title' => '', 'summary' => 'January 4: The Confederation of Nepalese Industry (CNI) has said that there has been a slump in the construction sector due to the inability to increase expenditure for the development of infrastructure.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 4: The Confederation of Nepalese Industry (CNI) has said that there has been a slump in the construction sector due to the inability to increase expenditure for the development of infrastructure. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CNI President Vishnu Kumar Agarwal, during a meeting with Deputy Prime Minister and Minister for Physical Infrastructure and Transport Narayankaji Shrestha on Tuesday, informed that all the sectors related to construction business, are facing recession due to the slowdown in the infrastructure development.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CNI also requested Deputy Prime Minister to increase the development expenditure. The team led by the CNI president Agarwal emphasized the need to increase the development expenditure and start revitalizing the economic sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal also pointed out the need to promote investment in the infrastructure sector. Adding that there is less investment in the construction sector, he said that the overall infrastructure industry has slowed down due to low capital expenditure.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that when the infrastructure sector faces a slowdown, all the other related sectors also face a slowdown. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal also urged the Deputy Prime Minister to coordinate with the Ministry of Finance to speed up the payments due to the builders. He added that the development projects should be completed quickly by allocating the required budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He also presented a concept with clear steps to be taken immediately to restore momentum to the country's economy, which is in crisis.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the meeting, CNI suggested measures to be taken immediately by prioritizing the financial sector, industry, infrastructure, tourism, energy and information technology sectors to speed up the economy again.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In response, Deputy Prime Minister Shrestha said that the suggestions are important for the improvement of the economy. He said that the government will move forward by addressing such problems. </span></span></span></p> <p><br /> <br /> <br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16405', 'image' => '20230104042402_Untitled.jpg', 'article_date' => '2023-01-04 16:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16662', 'article_category_id' => '1', 'title' => '50,000 Tons of Wheat Arriving from India', 'sub_title' => '', 'summary' => 'January 4: The Government of India is preparing to send 50,000 metric tons of wheat to Nepal in the first lot after collecting the details of the wheat required by Nepal's industry.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 4: The Government of India is preparing to send 50,000 metric tons of wheat to Nepal in the first lot after collecting the details of the wheat required by Nepal's industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Kumud Dugad, central president of Nepal Flour Mills Association, said that the industries of Nepal require 250,000 tons of wheat by mid-April. But even if 50,000 metric tons comes in the first batch, there will be some relief.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dugad said that the import was delayed because accurate data was not sent to the Indian government on time. He informed New Business Age that the data of the Ministry of Agriculture and Livestock Development showed that Nepal produced 2.9 million tons of wheat and the Indian side assumed that there is enough stock of wheat in Nepal based on the same data. The problem surfaced because they did not show interest in opening the export immediately.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Dugad, the price of flour in Nepal will drop by Rs 10 per kilogram after importing wheat from India. The current price of wheat in Nepal is Rs 52 per kg. Similarly, fine flour costs Rs 70, common flour Rs 76, semolina Rs 80 and bran Rs 46 per kg without VAT.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The price of wheat in India is INR 28.50 per kg, fine flour INR 32, common flour INR 34, and bran INR 28 per kg. A kilogram of wheat is Rs 5.40 cheaper in India than in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A total of 28 mills in Nepal need 250,000 tons of wheat for three months. Bikas Begwani, vice president of Morang Trade Association stated that for the next year, the government should fix the quota in consultation with the Indian government and arrange the wheat required for the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Due to the shortage of wheat, the production of most of the flour mills in Nepal has been limited to 20 to 40 percent. At this time, the price of flour in India and Nepal differs by Rs 300 per quintal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhavesh Rathi, a member of the Confederation of Nepalese Industry and the owner of Baba Flour Mill, says that due to this, there will be an increase in smuggling and the domestic industry will be in further crisis.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Citing the Russia-Ukraine war, India had imposed a ban on wheat export eight months ago. Before the ban, the price of fine flour in Nepal was Rs 50 per kg, common flour was Rs 55 per kg, semolina was Rs 60 per kg and bran was Rs 38 per kg.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16403', 'image' => '20230104031551_wheatttttt.jpg', 'article_date' => '2023-01-04 15:15:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '16677', 'article_category_id' => '1', 'title' => 'International Festival and Agriculture Fair to Kick off in Kathmandu From February 14', 'sub_title' => '', 'summary' => 'Federation of Nepali Cottage and Small Industries will be hosting “Sixteenth International Festival and Sixth Organic Agriculture Fair 2079 at Bhrikutimandap in Kathmandu from February 14.', 'content' => '<p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">January 6: An industrial exhibition will be organized at Bhrikutimandap in Kathmandu from February 14. Federation of Nepali Cottage and Small Industries will be hosting “Sixteenth International Festival and Sixth Organic Agriculture Fair 2079 at Bhrikutimandap in Kathmandu from February 14. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation informed that it is hosting the fair to promote domestic production. The federation has set the slogan "Let's use Nepali products, let's be proud of being Nepali and hard work, creation, production and products of my Nepal". </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the Federation, the exhibition will include the products from all types of industries operating in Nepal in order to showcase the current situation of small, domestic and cottage industries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Entrepreneurs from all provinces and districts of Nepal, and SAARC countries, including India, Pakistan, Bangladesh and China will participate in the exhibition.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The exhibition will have as many as 200 stalls. President of Federation of Nepali Cottage and Small Industries Umesh Prasad Singh said the fair will be an important medium to make Nepal's organic products export-oriented and attract international businessmen and entrepreneurs to the country. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Singh, organic agricultural products will be exhibited in a separate pavilion in collaboration with Organic Association of Nepal, which is one of the co-organizers of the event.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Ministry of Industry, Commerce and Supplies, Trade and Export Promotion Center, Ministry of Women, Children and Senior Citizens, Bagmati Province government, and Sudurpaschim Province government are co-organizers of the industrial exhibition.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16418', 'image' => '20230106055136_collage (34).jpg', 'article_date' => '2023-01-06 17:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '16676', 'article_category_id' => '1', 'title' => 'Use of Bank Notes Declining', 'sub_title' => '', 'summary' => 'Circulation of bank notes is decreasing in the market due to the public attraction towards digital payment and the government's encouragement for electronic payment systems. ', 'content' => '<p><br /> <br /> <span style="font-size:16px">January 6: Circulation of bank notes is decreasing in the market due to the public attraction towards digital payment and the government's encouragement for electronic payment systems. </span></p> <p><span style="font-size:16px">The number of users of electronic payment devices and transactions is increasing. Similarly, Nepal Rastra Bank's data shows that the use of physical cash is falling in the market. </span></p> <p><span style="font-size:16px">According to NRB, by the end of Mangisr 2079, notes worth Rs 616 billion were in circulation in the market. During the same period last year, notes worth of Rs 654 billion were in circulation. This shows that circulation of physical cash has declined by Rs 38 billion in one year. </span></p> <p><span style="font-size:16px">The statistics at the NRB show that notes worth Rs 671 billion were in circulation on average per month in the first five months of 2078/79, while in the first five months of the current fiscal year, notes worth Rs 617 billion were in circulation on average per month. </span></p> <p><span style="font-size:16px">The fifth month of the current fiscal year saw the drop in the circulation of notes by Rs 15 billion compared to the fourth month. In the fourth month of the current fiscal, notes worth Rs 631 billion were in circulation in the market. </span></p> <p><span style="font-size:16px">The number of notes in circulation has decreased every month, except the month of Ashoj due to festivals such as Dashain and Tihar in the current fiscal year, according to the financial statements published by the central bank.</span></p> <p><span style="font-size:16px">NRB sends new notes to the market at Dashain every year. Since people spend more during the festival, circulation of the notes is more as well. The NRB issued notes worth Rs 16 billion to the market at this year’s Dashain. Apart from it, the market saw an increase of bank notes worth Rs 35 billion.</span></p> <p><span style="font-size:16px">With the celebration of festivals over, the notes in circulation had started to return to the banking system from Kartik. Circulation of notes has dropped by Rs 33 billion in the fourth and fifth months of the current fiscal. </span></p> <p><span style="font-size:16px">According to the NRB, among the notes of different denominations in circulation in the market, note of Rs 5 denomination is the highest in in the number. By the end of last fiscal year, notes worth Rs 670 million of 5 denomination were in the market.</span></p> <p><span style="font-size:16px">In terms of monetary value, notes of Rs 1000 denomination beat other notes in circulation. <br /> Notes worth Rs 443 billion of one thousand denominations are in the market. Similarly, the notes worth Rs 260 million of Rs 500 denominations are in circulation.</span></p> <p><span style="font-size:16px">Guru Prasad Poudel, Executive Director at Payment System Department of Nepal Rastra Bank said number of notes in circulation is shrinking with rise of digital payment system.</span></p> <p><span style="font-size:16px">“However, number of notes in circulation is still high in the market,”, Poudel shared. <br /> To encourage electronic payment system, the NRB has made it mandatory to use a cheque for the transaction of the amount above Rs 10 million. The central bank has also increased limit for electronic transactions. </span></p> <p><span style="font-size:16px">Real time gross settlement (RTGS), ATMs, electronic cheque clearing, IPS, Connect IPS, Debit/Credit cards, internet banking, wallet, QR code, e-commerce, among other electronic mediums and devices, are being used for digital transaction in Nepal. </span></p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16417', 'image' => '20230106042508_collage (30).jpg', 'article_date' => '2023-01-06 16:19:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '16675', 'article_category_id' => '1', 'title' => 'Rice prices Surge by 15 Per Cent in India ', 'sub_title' => '', 'summary' => 'Prices of rice have surged by 15 per cent in India in the last one month.', 'content' => '<p><br /> January 6: Prices of rice have risen in India. Palm oil has also become costly. Prices of rice have surged by 15 per cent in the last one month, The Economic Times Reported. Prices of palm oil are projected to go up by Rs 5 to 7 per liter in the coming weeks. </p> <p>Basmati variety of rice is selling at a record high of Rs 110 per kg as compared with Rs 95 per kg a month ago. Traders attribute price hike to the millers hoarding rice and paddy in anticipation of better prices in the world market. </p> <p>Analysts are projecting rice prices to become dear after floods in Pakistan damaged the country’s rice crop. The price is jumping despite hardly any orders from Iran, which is India’s biggest market for basmati rice. </p> <p>Prices of other varieties of rice are also surging in the anticipation of drop in rice production. </p> <p>Rice production in 2022-23 is estimated at 104.99 million, which is 6.77 million tonnes less than 111.76 tonnes in 2021-22 in India. </p> <p><br /> </p> ', 'published' => true, 'created' => '2023-01-06', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16416', 'image' => '20230106104033_collage (29) (1).jpg', 'article_date' => '2023-01-06 10:38:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '16674', 'article_category_id' => '1', 'title' => 'Raya, Ghimire appointed as finance, revenue secretaries ', 'sub_title' => '', 'summary' => 'The government has appointed Toyam Raya and Ram Prasad Ghimire as Finance and Revenue Secretaries respectively. ', 'content' => '<p><br /> January 5: With the formation of the new government after the November 20 general elections, Nepal government has started promotion and transfer of civil servants.</p> <p>A meeting of the Council of Ministers held on Thursday decided to appoint Toyam Raya, Secretary at the Ministry of Industry, Commerce and Supplies as the secretary at the Ministry of Finance. </p> <p>Similarly, the government has appointed Ram Prasad Ghimire as revenue secretary. Earlier, Ghimire was working at the Commission for the Investigation of Abuse of Authority (CIAA).</p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16415', 'image' => '20230105052111_collage (28).jpg', 'article_date' => '2023-01-05 17:18:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '16673', 'article_category_id' => '1', 'title' => 'Prime Minister Dahal Directs to Lower Fuel Prices ', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal on Thursday directed to the Secretary at the Ministry of Industry, Commerce and Supplies to lower the prices of petroleum products.', 'content' => '<p> <br /> January 5: Prime Minister Pushpa Kamal Dahal on Thursday directed to the concerned authorities to lower the prices of petroleum products.</p> <p>The prime minister summoned Secretary Toya Narayan Gyawali of the Ministry of Commerce and Supplies, to the Office of Prime Minister and Council of Ministers and directed him to cut fuel prices, in accordance with the price drop in international market and a revised price list sent by the Indian Oil Corporations. </p> <p>Dahal’s press coordinator Surya Kiran Sharma said that the Prime Minister had instructed the Industry, Commence and Supplies Secretary to slash the prices of petrol, diesel and aviation fuel to give relief to the customers. </p> <p>Secretary at the ministry is the chairperson of the Nepal Oil Corporation. </p> <p>Nepal Oil Corporation is making a profit of around Rs990 million fortnightly as the fuel prices have come down in the international market.</p> <p>However, the state-owned corporation is reluctant to cut the prices, citing huge debt and loan amounting to Rs 18 billion to be paid to the Indian Oil Corporation and to the Nepal government. </p> <p>Prime Minister Dahal had to instruct the secretary to slash the prices after the NOC refused to cut the prices despite tremendous pressure from various quarters. <br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16414', 'image' => '20230105044533_collage (27).jpg', 'article_date' => '2023-01-05 16:40:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '16672', 'article_category_id' => '1', 'title' => 'Nepal Export Council urges Govt to Provide Tax Exemption to Increase Export', 'sub_title' => '', 'summary' => 'January 5: The Nepal Export Council has said that the total export of Nepal has decreased by 34.6 percent in the five months of the current fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The Nepal Export Council has said that the total export of Nepal has decreased by 34.6 percent in the five months of the current fiscal year. Organising a press conference in Bhaktapur on Wednesday, Chairman of the council Resham Bahadur Pokharel said that Nepal's export is now limited to Rs 67.3 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“In the year 2020/21, the total foreign trade of Nepal increased by 26.1 percent compared to the previous year and reached Rs 2120 billion. With the increase in foreign trade, Nepal's total exports also increased by 41.7 percent to 230 billion and imports increased by 24.7 percent to 1920 billion. But in the first five months of 2022/23, the total export of Nepal decreased by 34.6 percent to 67.3 billion. The problems surface because our country's economy is dependent on import rather than export,” said Pokharel</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Demanding that the government produce export-quality goods and provide preferential interest rates to the exporters, he said that the country's economy is not strong due to the import-oriented economy. Pokharel demanded that the state should arrange various exemptions for export-oriented industries for 10 years and emphasized that the procedural hassles to be faced while receiving cash incentives should be ended.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that the government should establish a globally recognized lab for the export of Nepali products to different countries.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government should promote its products through diplomatic missions to compete with the products of the neighobouring countries, said Pokharel.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pokharel pointed out that the export of Nepali products has not increased due to high freight charges, lack of skilled manpower, lack of liquidity, high production costs, transportation costs, and lack of market diversification.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In order to make the import-oriented market export-oriented, he said that the council will organize a large exhibition in Thamel, Kathmandu on January 5 and 6, with 20 stalls of various goods produced in Nepal on the occasion of Export Day. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The council’s 25th Annual General Meeting, Silver Jubilee and the 7th Export Day will be celebrated by the council with the slogan 'Expansion of Exports, Improvement of Economy'.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the press conference, the council's former chairman Naresh Lal Shrestha said that if export-oriented policies are not adopted to strengthen the country's economy, it will not take long for the country to reach the situation of Sri Lanka. He pointed out that the government at all three levels should give priority to export along with diversification of local products.</span></span></span></p> <p> </p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16413', 'image' => '20230105025605_export.jpg', 'article_date' => '2023-01-05 14:55:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16671', 'article_category_id' => '1', 'title' => 'Interest and Parking Fee of Vehicles Stuck at Customs Yards reach almost Rs 1 Billion', 'sub_title' => '', 'summary' => 'January 5: The parking fee of vehicles parked across various customs yards along with the bank interest which the importers are liable to pay have reached almost Rs 1 billion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The parking fee of vehicles parked across various customs yards along with the bank interest which the importers are liable to pay have reached almost Rs 1 billion. About 3,200 vehicles are stuck in Birganj, Bhairahawa and Rasuwagadhi customs, the major customs points of Nepal, since the government restricted the import of luxurious items.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Citing the pressure on the foreign exchange reserves, the government published a notice in the Nepal Gazette on April 26 last year and imposed a ban on the import of 10 luxurious items, including vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The vehicles stranded at the customs points had already arrived in Nepal before the restriction was imposed but the customs clearance of those vehicles has not been possible due to the ban imposed by the government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Customs officials said that most of the vehicles stopped at the customs checkpoint were imported nine months ago while the restriction was imposed eight months ago.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The automobile dealers are at the receiving end due to the government’s policy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dhruba Thapa, president of NADA Automobiles Association of Nepal (NADA), informed New Business Age that on one hand banks and financial institutions are continuously increasing the interest rates after releasing the money for the purchase of vehicles, and on the other hand, they are forced to pay high parking fees for the vehicles stuck at the customs points for 8/9 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NADA said that out of 3,200 vehicles stuck at the customs points, about 3,000 are imported by NADA-affiliated businessmen.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The traders have been paying high parking fees for the vehicles stuck at the customs checkpoint, along with heavy interest on Rs 5 billion spent on imports.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Thapa also said that auto traders are currently paying up to 12 to 15 per cent interest on Rs 5 billion spent on vehicle imports. In this period of 8 to 9 months, the importers are liable to pay around Rs 500 million in interest. Similarly, he said that the average parking fee for 3200 vehicles at the rate of Rs 518 per day for 6 to 9 months has reached almost Rs 350 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that even though the government lifted the ban on import of vehicles this January, they are still unable to obtain customs clearance due to lack of credit from banks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In other words, it seems that the interest and parking fee expenses of the auto traders for the last 8/9 months have reached around Rs 850 to 900 million.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Among the imported vehicles, the maximum number of vehicles (2002) are stuck at the Birgunj customs. Similarly, 1100 vehicles are stranded at Bhairahawa while the remaining vehicles imported from China are stuck at Tatopani and Rasuwa customs.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16412', 'image' => '20230105024504_20220815011457_1660393906.jpg', 'article_date' => '2023-01-05 14:44:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16670', 'article_category_id' => '1', 'title' => 'Why has the Import of LPG Declined?', 'sub_title' => '', 'summary' => 'January 5: The import of cooking gas (LPG) has been declining in recent days, according to the data made public by the Department Customs.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 5: The import of cooking gas (LPG) has been declining in recent days, according to the data made public by the Department Customs. The reasons for the decline in import of LPG include lack of liquidity, reduction in industrial production, development and construction work not progressing at a fast pace and some industries switching to electricity instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">As of mid-December of current fiscal year, more than 20.63 million kg of LPG was imported in Nepal against the import of 216.7 million kg of LPG last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">There is no reliable data available on how much gas is consumed by the households as well as the commercial and industrial sectors in Nepal. According to Nepal Oil Corporation (NOC), although there is no official data, it is estimated that 25 percent of the total consumption is used in industrial and commercial sectors. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Binit Mani Upadhyaya, spokesperson for NOC said, “Hotels and industries that produce iron, steel, cement and other industries consume LPG. Big industries like Jagdamba, Aarati Strips Pvt Ltd have signed agreement with NOC to avail LPG.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Although the decline in import of LPG is good, Upadhyaya said that it not a matter of excitement as the proportion of decline is very small. There is a possibility that gas consumption may have decreased due to industries cutting their production.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">It is estimated that the demand for gas decreased recently due to increased availability of hydroelectricity. An official of Jagdamba Steel informed New Business Age that production has decreased recently while electricity is gradually replacing LPG.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, cement industries also used LPG, but they now rely on electricity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dhruba Raj Thapa, president of the Cement Manufacturers Association of Nepal, said that the cement industries are reducing the use of gas because they have enough electricity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Government data shows that the pace of development is almost at a standstill in the current fiscal year. According to the Office of the Financial Comptroller General, the government has spent only 11.16 percent of the capital budget so far. Spokesperson Upadhyaya said that due to the fact that more diesel is being consumed in construction projects, the import is low because the construction work is almost at a standstill.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16411', 'image' => '20230105021823_gas.jpg', 'article_date' => '2023-01-05 14:17:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16669', 'article_category_id' => '1', 'title' => 'Visitors Increase by Three Folds in Sagarmatha National Park', 'sub_title' => '', 'summary' => 'January 5: The number of tourists visiting Sagarmatha National Park has increased by more than three folds in the first five months of the current fiscal year compared to the corresponding period of last year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 5: The number of tourists visiting Sagarmatha National Park has increased by more than three folds in the first five months of the current fiscal year compared to the corresponding period of last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Namche-based office of Sagarmatha National Park, a total of 7,464 persons had visited the national park, which is home to the world’s highest peak Mt Everest, during the first five months of last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, 25,029 tourists visited the national park in the first five months of the current fiscal year, according to the national park’s information officer Manoj Mandal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that a total of 21,853 foreigners and 3,176 Nepalis visited the Everest region during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Among the foreign visitors, 1990 were from the SAARC countries while the remaining visitors were from other countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The national park collected revenue worth Rs 35.5 million in the first five months of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The park charges Rs 3000 per person in case the visitor is a foreign national. Similarly, it charges Rs 1500 for visitors from SAARC countries and Rs 100 for Nepalis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of visitors during last year was less due to the impact of Covid-19 and restrictions imposed by the government. After the restrictions were lifted, the number of visitors increased significantly, informed the park officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sagarmatha National Park was established in 1976 and covers an area of 1148 square kilometers in Solukhumbu district of eastern Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides having the world’s highest peak Everest, the national park also boasts of other towering peaks such as Lhotse, Nupse, Cho Oyu, Pumori, Ama Dablam, Thamsherku, Numbur, Cholatse, Lobuche among others.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16410', 'image' => '20230105114150_khumbu-valley.jpg', 'article_date' => '2023-01-05 11:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16668', 'article_category_id' => '1', 'title' => 'Home Ministry Issues Decree to Shut Down Illegally Operating Crusher Industries ', 'sub_title' => '', 'summary' => 'Ministry of Home Affairs on Wednesday issued a circular to all district administration offices to shut down crusher industries operating illegally.', 'content' => '<p><span style="font-size:18px">January 5: Ministry of Home Affairs on Wednesday issued a circular to all district administration offices to shut down crusher industries operating illegally. </span></p> <p><span style="font-size:18px">The Home Ministry has issued circular to all 77 district administration offices to shut down crusher industries involved in illegally quarrying and excavating the sand, boulder and stones. </span></p> <p><span style="font-size:18px">Similarly, the ministry has also asked the DAOs to investigate and immediately shut down crusher industries that were granted permission to excavate and process the stone, boulders and sand for different development and construction projects if they have continued quarrying works even after the completion of those projects. </span></p> <p><span style="font-size:18px">Spokesperson Phadindramani Pokhrel at the Ministry of Home Affairs said that DAOs would be powered to monitor the crusher industries. </span></p> <p><span style="font-size:18px">“Crusher industries operating without permission, and renewal and industries that have continued even after the completion of development projects will be shut down”, Pokhrel added. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16409', 'image' => '20230105112602_collage (22).jpg', 'article_date' => '2023-01-05 10:48:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '16667', 'article_category_id' => '1', 'title' => 'Dust from Sugar Industry Creating Health Hazard ', 'sub_title' => '', 'summary' => 'January 5: Dust from the Lubmini Sugar Industry at Sunwal in Nawalparasi (Bardaghat Susta West) is impacting the health of the people, complained the local residents. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 5: Dust from the Lubmini Sugar Industry at Sunwal in Nawalparasi (Bardaghat Susta West) is impacting the health of the people, complained the local residents. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dust emanating from sugarcane crushers used by the industry and other harmful particles have been affecting the health of the locals, said Bimala Aryal, mayor of Sunwal Municipality. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The local government has drawn the attention of the industry to the issue, she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Preparations are underway to organise talks with the management team after our concerns have remained unheard so far. We have demanded that the industry should operate without affecting the locals and the environment," she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals of the area have also been affected in various other ways due to the industry. People's mobility has been restricted, while dust from the industry have been affecting crops, they complained. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kush Subedi, the industry's administrative chief, said that they have already initiated the process to purchase the equipment to control dust. "The problem will be resolved in a few day," he said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16408', 'image' => '20230105104420_312051785_182395174300702_8648373783323486733_n.jpg', 'article_date' => '2023-01-05 10:43:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16666', 'article_category_id' => '1', 'title' => 'Jungle Safari Track Set to Open From Nawalpur to Chitwan National Park ', 'sub_title' => '', 'summary' => 'Preparations are underway to open a track for jungle safari in Nawalparasi, east of Bardaghat Susta, inside the Chitwan National Park. ', 'content' => '<p><br /> <span style="font-size:18px">January 4: Preparations are underway to open a track for jungle safari in Nawalparasi, east of Bardaghat Susta, inside the Chitwan National Park. </span></p> <p><span style="font-size:18px">The new track will pave the route for jungle safari to Chitwan National Park from Nawalparasi for the first time.</span></p> <p><span style="font-size:18px">Till date, jungle safaris are being operated in the intermediate(madhyawarti) community forests of the district only. </span></p> <p><span style="font-size:18px">After the new track is opened, jungle safaris will be operated in the core area of the Chitwan National Park. The track runs through Nawalparasi’s Sikharauli, Sishwar and Lamichaur intermediate(madhyawarti) areas. </span><br /> </p> <p><span style="font-size:18px">The new track will connect Gaindakot Municipality, Devchuli Municipality and Kawasoti Municipality, according to Devchuli Municipality Chief Hari Prasad Neupane. </span></p> <p><span style="font-size:18px">Chitwan National Park, Homestay and Hotel Association Nawalpur, Devchuli Municipality and Sishwar Madhyawarti Consumers’ Committee have agreed to collaborate for the track construction.</span></p> <p><span style="font-size:18px">“The new track meant for jungle safari in the core area of the Chitwan National Park will play a big role for Nawalpur’s tourism promotion. So, we have taken this as an opportunity for our new identity,” Neupane shared. </span></p> <p><span style="font-size:18px">According to Chairman Ganesh Sharma of Devchuli Municipality ward no-17, they are preparing to declare the area a tourist zone this year. </span></p> <p><span style="font-size:18px">“Since Devchuli Municipality has immense potential for tourism. We are planning to announce area tourist zone at the earliest,” Sharma added. </span></p> <p><span style="font-size:18px">“Track construction for the jungle safari has started off and we will take tourists for jungle safari at Fourth Devchuli Festival slated to be held in one month’s time,” Sharma shared. </span></p> <p><span style="font-size:18px">Locals are elated that new track for jungle safari from Nawalparasi will open new doors of opportunities for their livelihood and income generation. </span></p> <p><span style="font-size:18px">“New tourism opportunities will directly help for people’s income and life,” said Sishwar Users’ Committee Chairman Netra Bahadur Pandey. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-01-05', 'modified' => '2023-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '16407', 'image' => '20230105062248_collage (21).jpg', 'article_date' => '2023-01-05 06:17:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '16665', 'article_category_id' => '218', 'title' => 'NRB Revises Working Capital Loan Guideline-2079 ', 'sub_title' => '', 'summary' => 'Just two-and-a-half- month after it came into effect, Nepal Rastra Bank has revised ‘Working Capital Loan Guideline-2079’. NRB took the decision to this effect at the directive of Prime Minister Pushpa Kamal Dahal.', 'content' => '<p> </p> <p>January 4: Just two-and-a-half- month after it came into effect, Nepal Rastra Bank has revised ‘Working Capital Loan Guideline-2079’. <br /> NRB took the decision to this effect at the directive of Prime Minister Pushpa Kamal Dahal. </p> <p>Ever since Pushpa Kamal Dahal was appointed as Prime Minister, different umbrella organizations of businesses had been lobbying him to revise the new rule of working capital loan.</p> <p>On Wednesday morning, Prime Minister Dahal had held meeting with Finance Minister Bishnu Prasad Poudel and Nepal Rastra Bank’s Governor Maha Prasad Adhikari regarding the same matter. </p> <p>In a virtual press meet, the Nepal Rastra Bank had notified revisions made in connection with the rule of working capital loan. <br /> Since the introduction of the working capital loan guideline by the NRB for financial discipline and stability, industrialists, entrepreneurs and traders had been protesting against it. </p> <p>With the revisions, NRB will not implement the provisions to provide loan based on current assets and annual turnover amount only. Businessmen that have borrowed more than the limit can repay the debt in five installments by Ashad 2082. </p> <p>While determining the limit of periodic loans for working capital purposes, at least 3 years of estimated financial statements and at least 3 years of audited statements should be analyzed in accordance with working capital loan policy.</p> <p>The new rule came into implementation from October 18, 2022. </p> <p>Working capital loan is provided to the firms, organizations and companies to cover their short-term operational needs.</p> <p>Earlier, Nepal Rastra Bank officials had been defending the new rule of working capital loan saying that businessmen and entrepreneurs were using the loan to invest in the stock market and real estate. </p> <p>NRB Governor Maha Prasad Adhikari was reluctant even to hear the word revision of the rule of working capital loan during Sher Bahadur Deuba-led government’s tenure.</p> <p>After CPN-UML bagged the Ministry of Finance, Adhikari revised the provisions related to the working capital loan on the ninth day of the formation of the new government. </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16406', 'image' => '20230104050250_collage (26).jpg', 'article_date' => '2023-01-04 16:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '16664', 'article_category_id' => '1', 'title' => 'Construction Business Slumps due to Lack of Capital Expenditure: CNI', 'sub_title' => '', 'summary' => 'January 4: The Confederation of Nepalese Industry (CNI) has said that there has been a slump in the construction sector due to the inability to increase expenditure for the development of infrastructure.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 4: The Confederation of Nepalese Industry (CNI) has said that there has been a slump in the construction sector due to the inability to increase expenditure for the development of infrastructure. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CNI President Vishnu Kumar Agarwal, during a meeting with Deputy Prime Minister and Minister for Physical Infrastructure and Transport Narayankaji Shrestha on Tuesday, informed that all the sectors related to construction business, are facing recession due to the slowdown in the infrastructure development.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CNI also requested Deputy Prime Minister to increase the development expenditure. The team led by the CNI president Agarwal emphasized the need to increase the development expenditure and start revitalizing the economic sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal also pointed out the need to promote investment in the infrastructure sector. Adding that there is less investment in the construction sector, he said that the overall infrastructure industry has slowed down due to low capital expenditure.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that when the infrastructure sector faces a slowdown, all the other related sectors also face a slowdown. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal also urged the Deputy Prime Minister to coordinate with the Ministry of Finance to speed up the payments due to the builders. He added that the development projects should be completed quickly by allocating the required budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He also presented a concept with clear steps to be taken immediately to restore momentum to the country's economy, which is in crisis.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the meeting, CNI suggested measures to be taken immediately by prioritizing the financial sector, industry, infrastructure, tourism, energy and information technology sectors to speed up the economy again.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In response, Deputy Prime Minister Shrestha said that the suggestions are important for the improvement of the economy. He said that the government will move forward by addressing such problems. </span></span></span></p> <p><br /> <br /> <br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16405', 'image' => '20230104042402_Untitled.jpg', 'article_date' => '2023-01-04 16:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16662', 'article_category_id' => '1', 'title' => '50,000 Tons of Wheat Arriving from India', 'sub_title' => '', 'summary' => 'January 4: The Government of India is preparing to send 50,000 metric tons of wheat to Nepal in the first lot after collecting the details of the wheat required by Nepal's industry.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 4: The Government of India is preparing to send 50,000 metric tons of wheat to Nepal in the first lot after collecting the details of the wheat required by Nepal's industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Kumud Dugad, central president of Nepal Flour Mills Association, said that the industries of Nepal require 250,000 tons of wheat by mid-April. But even if 50,000 metric tons comes in the first batch, there will be some relief.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dugad said that the import was delayed because accurate data was not sent to the Indian government on time. He informed New Business Age that the data of the Ministry of Agriculture and Livestock Development showed that Nepal produced 2.9 million tons of wheat and the Indian side assumed that there is enough stock of wheat in Nepal based on the same data. The problem surfaced because they did not show interest in opening the export immediately.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Dugad, the price of flour in Nepal will drop by Rs 10 per kilogram after importing wheat from India. The current price of wheat in Nepal is Rs 52 per kg. Similarly, fine flour costs Rs 70, common flour Rs 76, semolina Rs 80 and bran Rs 46 per kg without VAT.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The price of wheat in India is INR 28.50 per kg, fine flour INR 32, common flour INR 34, and bran INR 28 per kg. A kilogram of wheat is Rs 5.40 cheaper in India than in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A total of 28 mills in Nepal need 250,000 tons of wheat for three months. Bikas Begwani, vice president of Morang Trade Association stated that for the next year, the government should fix the quota in consultation with the Indian government and arrange the wheat required for the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Due to the shortage of wheat, the production of most of the flour mills in Nepal has been limited to 20 to 40 percent. At this time, the price of flour in India and Nepal differs by Rs 300 per quintal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhavesh Rathi, a member of the Confederation of Nepalese Industry and the owner of Baba Flour Mill, says that due to this, there will be an increase in smuggling and the domestic industry will be in further crisis.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Citing the Russia-Ukraine war, India had imposed a ban on wheat export eight months ago. Before the ban, the price of fine flour in Nepal was Rs 50 per kg, common flour was Rs 55 per kg, semolina was Rs 60 per kg and bran was Rs 38 per kg.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-04', 'modified' => '2023-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '16403', 'image' => '20230104031551_wheatttttt.jpg', 'article_date' => '2023-01-04 15:15:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
