December 8: The Bagmati Province government has tightened the noose for cooperatives to disburse loan in the real estate…
December 8: The Bagmati Province government has tightened the noose for cooperatives to disburse loan in the real estate…
December 8: Experts said that it has become a mounting challenge to supply adequate pure drinking water, energy and food to the growing population of the…
December 7: Prime Minister Sher Bahadur Deuba has assured the private sector to take the initiative in solving the problems seen in the economy.…
December 7: Production of paddy and millet has declined in Myagdi this year.…
December 7: Tension ran high at the Supreme Court after the Parliament Secretariat sent a letter to suspended Chief Justice Cholendra Shumsher Jung Bahadur Rana on Wednesday stating that the impeachment motion against him has become…
December 7: A total of 5,770 electric vehicles (EVs) were registered in Nepal in the last 4…
December 7: Counting of votes for the House of Representatives and provincial assemblies under the proportional representation system has come to an…
December 7: The government has decided to lift the ban imposed on the import of four types of luxurious…
December 7: India and China have emerged as the largest buyers of Russian oil after Western nations decided to restrict purchases and impose sanctions on oil imports following Russian invasion of…
December 7: Portugal coach Fernando Santos dropped Cristiano Ronaldo from the starting line-up for their last-16 meeting with Switzerland and was rewarded with a hat-trick from replacement Goncalo Ramos and a stunning team…
December 7: Morocco kept the World Cup dreams of the Arab world alive as they eliminated fancied Spain in a penalty shootout on Tuesday to reach the…
December 6: The government has decided to operate five buses of Sajha Yatayat to facilitate tourists to visit world heritage sites in the Kathmandu…
December 6: The share transaction of 21 companies is yet to resume despite new legal provisions that allow suspension of trading of companies opting for merger or acquisition for a maximum of 15 working…
December 6: Four cooperatives in Bauddha-Jorpati area have turned problematic. Some of them have even closed their offices. Those who are still operating are not able to return the full deposits of the…
December 6: Five newly-elected lawmakers from the ruling coalition and the main opposition party will not be able to take oath of office and…
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As per the new directives issued by the provincial government, cooperatives will be able to issue only 25 per cent of the total credit/loan in real estates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new provisions came into effect after the Ministry of Land Management, Cooperative and Poverty Alleviation implemented the Criteria and Provisions for Operation, Monitoring and Auditing of Cooperatives -2022 on Wednesday. The ministry implemented the new provisions stating that concentration of the loan in land and housing had increased the risk in cooperatives. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank has already set the limit for banks and financial institutions to disburse only 25 per cent of the total credit in housing and land. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While extending loan against collateral for housing and land, the ministry has directed the cooperatives not provide loans more than 40 percent of the total valuation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, issuing the Unified Directives in June-2022, the Federal Cooperative Department had issued directives to the cooperatives to classify the credit on the basis of sectors and disburse at least 51 per cent of the total credit in productive and income-generating enterprises. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new cooperatives standards by the provincial government have banned cooperatives from investing in overdraft, operators’ private businesses, gold and silver collateral. Similarly, cooperatives will not be able to float loan without any collateral. They may disburse the credit to customers only after the latter have deposited their money regularly for at least three months. Cooperatives are barred from considering interest as principal amount. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While floating the loan above Rs 1 million, they should have collateral’s valuation done by institutional valuators. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing provisions, cooperatives are registered with local, province and federal levels in accordance with their working area. Out of 30,000 cooperatives operating across the country, twenty thousand cooperatives are under the provinces’ jurisdictions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the country adopting the federal system, rights of cooperatives were transferred to the local and provincial levels. Implementation, however, has become ineffective. Bagmati Province’s Cooperative Registrar Balram Niraula said that lack of necessary laws and skilled manpower had made it hard for the management, regulation and monitoring of cooperatives despite their transfer to the local and provincial levels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Out of the total cooperatives, 80 per cent are under local levels, 19 per cent under provinces and only 1 per cent under the federal government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Failure on the part of local and province levels has led to the rise of malpractices in the cooperatives, said Niraula. He added that they were working to make the regulation and monitoring effective through new standards and criteria in Bagmati Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new criteria and standards have envisioned province and district-level mechanisms to monitor cooperatives effectively. The province-level committee chaired by Province government secretary comprises Province Cooperative Development Board’s Vice-chair, Province Registrar, Province Cooperative Federation’s Chair, and representatives from National Cooperative Federation, National Cooperative Bank, among others, as members. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee will have ministry’s law officer as its member secretary. The committee has been assigned the rights to identify and monitor the cooperatives and prepare reports about them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, new standards have envisioned a district-level monitoring and supervision committee. The committee has been delegated the responsibility to monitor and supervise the cooperatives and recommend to the province for necessary actions. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-08', 'modified' => '2022-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '16217', 'image' => '20221208120753_Real estate.jpg', 'article_date' => '2022-12-08 12:07:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16475', 'article_category_id' => '1', 'title' => 'Supply of Pure Drinking Water to Growing Population a Challenge: Experts', 'sub_title' => '', 'summary' => 'December 8: Experts said that it has become a mounting challenge to supply adequate pure drinking water, energy and food to the growing population of the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: Experts said that it has become a mounting challenge to supply adequate pure drinking water, energy and food to the growing population of the country. They made such remarks during a two-day workshop on water, energy and food nexus that concluded in Kathmandu on Wednesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the inauguration of the workshop, Secretary at the Ministry of Water Supply and Sanitation Maniram Gelal said that the demand for drinking water, energy and food has been increasing across the globe due to rapid urbanization and population growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former minister Ganesh Shah suggested that the challenges surfaced in the sector could be averted by protecting sources of water, utilizing rain water and developing technology on water efficiency for higher yields of crops and placing renewable energy measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former secretary Suman Prasad Sharma demanded serious interventions from concerned sides to reach out to the growing population with pure drinking water, adequate clean energy and nutrient-rich food. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Smart WASH Solutions Ramdeep Shah shared that the workshop was organized to learn the experiences of the advanced countries in addressing the issues of drinking water, clean energy and nourishing food in light of rising population. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">J W Lee of Asian Water Council and K-Water had delivered a presentation on how the Korea Water (K-Water) was working to address the challenges emerging in this sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Expert Dr Unahar Shin shed light on the inter-relationship between water, energy and food, urban water management, water leakage control and management style in congruent with sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prof Dr Bhim Shrestha of the Kathmandu University presented a paper on nexus between water, energy and food while Executive Director of Alternative Energy Promotion Centre (AEPC) Dr Madhusudan Adhikari presented a working paper on the contributions to drinking water, energy and food security through renewable energy technology in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-08', 'modified' => '2022-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '16216', 'image' => '20221208112046_Untitled.jpg', 'article_date' => '2022-12-08 11:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16474', 'article_category_id' => '1', 'title' => 'PM Commits to Take Initiative to Resolve the Economic Crisis', 'sub_title' => '', 'summary' => 'December 7: Prime Minister Sher Bahadur Deuba has assured the private sector to take the initiative in solving the problems seen in the economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 7: Prime Minister Sher Bahadur Deuba has assured the private sector to take the initiative in solving the problems seen in the economy. In a meeting with the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the prime minister promised to invite everyone for discussion to resolve the current problems.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI, which started a campaign to resolve the economic crisis, has been actively trying to meet top leaders of the political parties to resolve the economic problems. A delegation of FNCCI met Prime Minister Deuba in an attempt to find a way out. A press release issued by the FNCCI on Tuesday states that PM Deuba promised to resolve the issue by discussing it with the Ministry of Finance and the Nepal Rastra Bank along with the private sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI has already met CPN (UML) chairman KP Sharma Oli and CPN (Maoist Center) chair Pushpa Kamal Dahal separately and sought for their help to seek a solution to the problems. FNCCI had asked them to protect the country's economy as it under grave risk.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the statement of the federation, UML President Oli, in the meeting, admitted that the economy is in trouble, and he and his party were ready to work for a resolution. Chairman of the Maoist Center Dahal has also assured to take initiatives to solve the problem.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI team has also met Finance Minister Janardan Sharma and Minister for Industry, Commerce and Supplies Dilendra Prasad Badu. FNCCI has urged everyone to understand the sensitivity of the economy and also provide suggestions to solve the problem.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16215', 'image' => '20221207091118_20220616042445_ROS_KTM_6483441 (1).jpg', 'article_date' => '2022-12-07 21:10:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16473', 'article_category_id' => '1', 'title' => 'Production of Paddy, Millet Drops in Myagdi', 'sub_title' => '', 'summary' => 'December 7: Production of paddy and millet has declined in Myagdi this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 7: Production of paddy and millet has declined in Myagdi this year. Compared to last year, the production of paddy and millet has dropped by 11.50 per cent and 6.87 per cent respectively in the district. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the Agriculture Knowledge Center, Myagdi, productivity of paddy and millet has shrunk by 0.3 and 0.1 ton per hectare respectively. Drought during the time of plantation and seed-bearing affected paddy and millet production, said Agriculture Knowledge Center Myagdi’s Chief Kiran Sigdel. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Sigdel said that delayed cultivation and shade from the increasing nearby forests had also led to the drop in production. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Myagdi had produced 13,480 tons of paddy and 3,490 tons of millet last year. This year, the paddy production stood at 11,929 tons while the millet production was 3,250 tons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The agro center had conducted the study on the status of millet and paddy production using crop cutting methodology in various places of the district. As per the study, paddy production has declined from 3.4 tons to 3.1 tons per hectare while the productivity of millet has contracted to 1.27 tons per hectare from 1.28 tons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Agriculture technicians had used crop cutting methodology in various parts to identify productivity of millet and paddy in the district. Paddy and millet are cultivated in 2,750 hectares and 3, 890 hectares of the land respectively in the district. </span></span></span></p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16214', 'image' => '20221207063931_20201229023041_1609198819.Clipboard13.jpg', 'article_date' => '2022-12-07 18:38:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16472', 'article_category_id' => '1', 'title' => 'Tension Runs High at Supreme Court', 'sub_title' => '', 'summary' => 'December 7: Tension ran high at the Supreme Court after the Parliament Secretariat sent a letter to suspended Chief Justice Cholendra Shumsher Jung Bahadur Rana on Wednesday stating that the impeachment motion against him has become inactive.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">December 7: Tension ran high at the Supreme Court after the Parliament Secretariat sent a letter to suspended Chief Justice Cholendra Shumsher Jung Bahadur Rana on Wednesday stating that the impeachment motion against him has become inactive.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">The tension erupted after a woman threw a shoe in protest at the apex court gate as Rana was rumored to return back to office after the impeachment motion against him became inactive.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Police personnel were deployed at the SC premises to prevent any untoward incident as crowds of people advocating for Rana’s return and those opposing his comeback gathered at the main gate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">General Secretary of the Parliament Secretariat Dr Bharatraj Gautam had sent the letter to the Office of the President, Office of the Prime Minister and Council of Ministers, Office of the Constitutional Council, Supreme Court Judicial Council and Chief Justice Cholendra Shumsher Rana stating that the impeachment motion against Rana has become ineffective from today (December 7) itself. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Rana had written a letter to the Parliament Secretariat on Tuesday requesting it to write letters to the concerned agencies and persons to inform them about the motion becoming inactive after the election of the new parliament and failure of the erstwhile parliament to conclude the motion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">In line with the same request, the parliament secretariat had written to the concerned agencies and persons about the motion becoming ineffective. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16213', 'image' => '20221207050554_1670406649.jpg', 'article_date' => '2022-12-07 17:05:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16471', 'article_category_id' => '1', 'title' => 'Over Five thousand EVs Registered in Four Months', 'sub_title' => '', 'summary' => 'December 7: A total of 5,770 electric vehicles (EVs) were registered in Nepal in the last 4 months.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">December 7: A total of 5,770 electric vehicles (EVs) were registered in Nepal in the last 4 months. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The use of EVs was expected to rise after the government imposed a ban on high-end vehicles that run on diesel and petrol. However, the data suggests that the use of electric vehicles has not increased as expected.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The registration of electric vehicles is not much encouraging due to the absence of legal system to deal with EVs and a strategy to encourage the use of such vehicles.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the Department of Transport Management (DoTM), 20,693 new EVs were registered in the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The government had set a target of increasing the use of EVs to 20 percent by the year 2020 under the Environment Friendly Vehicles and Transport Policy 2071 and the National Action Plan for Electric Mobility 2075. However, even after two years since that deadline, the use of EVs is far less than the target.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Ishwari Datta Paneru, information officer of DoTM says that the target could not be achieved due to the difficulty in managing old vehicles and the lack of a new vehicle law. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“We are still operating according to the Vehicle and Transport Management Act 2049, some of the provisions of which are not up-to-date,” he said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that the lack of sufficient charging stations is also causing problems for the use of electric vehicles. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Nepal Electricity Authority spokesperson Suresh Bahadur Bhattarai informed that the work of making charging stations in 52 places across the country has reached its final stage. Spokesperson Bhattarai claims that apart from the authority, the private sector is also building charging stations at various places, so there will be no problem in the future.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Businessmen say that the demand for electric vehicles is high, which increased after the government introduced a policy of subsidizing electric vehicles. Dhruva Thapa, president of NADA Automobiles Association of Nepal, the umbrella organization of automobile dealers, said that the government's policy on electric vehicles is positive. Although the customs exemption facility given by the government on electric vehicles is giving positive results, it is very less compared to other countries.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16212', 'image' => '20221207025803_electric-car.jpg', 'article_date' => '2022-12-07 14:57:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16470', 'article_category_id' => '1', 'title' => 'Vote Counting Under Proportional Representation Over', 'sub_title' => '', 'summary' => 'December 7: Counting of votes for the House of Representatives and provincial assemblies under the proportional representation system has come to an end.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">December 7: Counting of votes for the House of Representatives and provincial assemblies under the proportional representation system has come to an end. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Election Commission Spokesperson Shalikram Sharma Poudel confirmed that vote counting in the proportional representation category has been over. According to the EC, as many as 1,056,0082 votes were counted in the PR category. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Out of the total votes counted, the CPN-UML has secured 2,845,641 votes while the Nepali Congress has garnered 2,715,225 votes followed by the CPN-Maoists Center with 1,175,684 votes and Rastriya Swatantra Party with 1,130,344 votes.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that Election Commission would send letters to the parties about the election results. Earlier, the parties had submitted the closed list of candidates to the commission under the PR category prior to the November 20 polls. As per the closed list, candidates will be elected in the proportional representation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">As per the votes garnered in proportional representation, CPN-UML will get 34 seats in the lower house of the federal parliament while the Nepali Congress will be allocated 32 seats. Likewise, CPN-Maoists Center will receive 14 seats whereas Rastriya Swatantra Party will attain 13 seats in the House of Representatives. Similarly, Rastriya Prajatantra Party will get seven seats while Janata Samajwadi Party and Janamat Party each will obtain 5 seats in the lower house. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">CPN-Unified Socialists have failed to cross the threshold of 300,000 votes despite winning 10 seats in the first-past-the post electoral system. This means that the party will not be recognized as a national party. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16211', 'image' => '20221207010739_KN_Damauli-image_6483441.jpg', 'article_date' => '2022-12-07 13:06:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16469', 'article_category_id' => '1', 'title' => 'Government Decides to Lift Ban on Import of Luxurious Goods', 'sub_title' => '', 'summary' => 'December 7: The government has decided to lift the ban imposed on the import of four types of luxurious goods.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 7: The government has decided to lift the ban imposed on the import of four types of luxurious goods. A cabinet meeting held on Tuesday took the decision to this effect. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">A source at the Ministry of Industry, Commerce and Supplies said that the cabinet meeting had agreed in principle not to prolong the import ban.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt"> The ban imposed on the import of smartphones priced above USD 300, cars, jeeps, vans, readymade liquor and motorcycles of more than 150 CC capacity by the ministry will remain in force until December 15. The ministry had presented the proposal not to extend the import ban to the Council of Ministers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Earlier, Nepal Rastra Bank and Ministry of Finance had recommended to the Ministry of Industry, Commerce and Supplies to lift the ban on the import of four kinds of goods. In accordance with the recommendation, the ministry had tabled the proposal in the Council of Ministers to remove the ban. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">After the state coffers witnessed depletion of foreign currency reserves, the Ministry of Commerce and Supplies had banned the import of 10 luxurious goods by publishing a notice in Nepal Gazette on April 26, 2022. Back then, the government had banned imports of ten items including large-sized colour television, playing cards, diamond except raw materials, cigarettes, and all kinds of toys, among others. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The primary purpose of the ban was to increase the foreign currency reserves and improve the balance of payments. </span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">With the ballooning trade deficit and rapid fall of foreign currency reserves, the government had started tightening the noose on imports of some goods since mid-December last year. Initially, Nepal Rastra Bank had set the limit on import of silver. After that, NRB set fifty per cent and 100 per cent cash margin provisions while opening letter of credit (LC) to import luxurious goods. Even with these measures in place, the import did not seem to decline. This had made the central bank to verbally direct the CEOs of commercial banks to stop opening LCs to import vehicles for personal use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">As a last measure, the government had decided to ban the import of luxurious goods. Nepali importers, however, claimed that import of goods other than two-wheelers and four-wheelers had not stopped despite the ban due to the open border which Nepal shares with India. They claimed that the banned items were being smuggled into the country unabated. The import ban has failed to meet the government’s revenue collection target as well. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16210', 'image' => '20221207010125_liquor.jpg', 'article_date' => '2022-12-07 13:00:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16468', 'article_category_id' => '1', 'title' => 'India, China Benefit from Cheaper Russian Oil', 'sub_title' => '', 'summary' => 'December 7: India and China have emerged as the largest buyers of Russian oil after Western nations decided to restrict purchases and impose sanctions on oil imports following Russian invasion of Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: India and China have emerged as the largest buyers of Russian oil after Western nations decided to restrict purchases and impose sanctions on oil imports following Russian invasion of Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, a plan by the major G7 economies - backed by the EU and Australia - to cap the price at which Russian oil is bought has created uncertainty in global markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">And as major oil-producing nations seek to maintain global prices by controlling output, Russia has been offering its oil at a discount to willing buyers in Asia, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“India's imports of Russian oil have risen from a very low base at the start of the year reaching a peak in June and July, and largely maintaining these levels through to November. China's purchases of Russian oil have fluctuated this year, falling in February at the start of Russia's invasion of Ukraine, but then rising significantly in the following months.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Russia has been selling oil at a discounted rate since March this year after the Ukraine invasion, BBC wrote in a news report published on its website on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In March, combined oil imports by China and India from Russia overtook those from the 27 EU member states. From late November, there appears to have been a renewed surge in oil purchases by India, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Experts suggest that if oil supplies continue at the same levels in December, Russia could become India's largest single supplier. Other countries have also taken advantage of discounted Russian crude - for example Sri Lanka, which has been grappling with a severe economic crisis. Pakistan has also been negotiating with Russia to purchase discounted oil, although no deal has yet been struck.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, the Indian government has defended its purchases from Russia, saying it has to source oil from where it is cheapest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Indian Oil Corporation (IOC) is the main supplier of petroleum product to Nepal but it is not certain whether the IOC will slash the fue prices for Nepal or not.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16209', 'image' => '20221207115422_oil.jpg', 'article_date' => '2022-12-07 11:52:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16467', 'article_category_id' => '1', 'title' => 'Ronaldo’s Replacement Stars as Portugal Demolish Switzerland 6-1', 'sub_title' => '', 'summary' => 'December 7: Portugal coach Fernando Santos dropped Cristiano Ronaldo from the starting line-up for their last-16 meeting with Switzerland and was rewarded with a hat-trick from replacement Goncalo Ramos and a stunning team display.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Portugal coach Fernando Santos dropped Cristiano Ronaldo from the starting line-up for their last-16 meeting with Switzerland on Tuesday and was rewarded with a hat-trick from replacement Goncalo Ramos and a stunning team display.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In a brave and bold move that turned out to be a coaching masterstroke, Santos left the five-time Ballon D'Or winner Ronaldo on the bench and gave the 21-year-old, nicknamed 'the Sorcerer', his first start, and the forward instantly lived up to his moniker, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, Santos expressed his displeasure at gestures made by Ronaldo when he was substituted in the last group game against South Korea and it was the first time in 31 games stretching back to 2008 that he had not started in a major tournament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Portugal made light of the 37-year-old's absence to put it mildly, as 21-year-old Benfica striker Ramos hit the first treble of this tournament on his first international start, to help set up a quarter-final against surprise package Morocco after their win against Spain on penalties, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ramos started the rout after 17 minutes when he drilled a finish past Swiss keeper Jan Sommer at the near post before veteran 39-year-old defender Pepe doubled Portugal's lead when he headed home Bruno Fernandes' corner in the 33rd minute.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, the dream full debut continued when Ramos effectively ended the contest with a near post swoop on Diogo Dalot's cross six minutes after the break, the striker turning provider to set up Raphael Guerriero to round off a sweeping move with a powerful strike four minutes later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manchester City defender Manuel Akanji pulled one back for Switzerland but Ramos swiftly got his third with a clever chip, which was the signal for the crowd at Lusail Stadium to noisily demand Ronaldo's introduction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Portugal coach Ramos obliged with the game won, Ronaldo entering to rapturous applause, but his team-mates deserve all the acclaim for a high-class performance. Ronaldo had the ball in the net but was ruled offside so it was another young pretender to his crown, 23-year-old Rafael Leao, who crowned a dazzling display when he curled in the sixth.”</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">a</span></span></p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16208', 'image' => '20221207105721_2559056-ram.jpg', 'article_date' => '2022-12-07 10:56:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16466', 'article_category_id' => '1', 'title' => 'Morocco Stun Spain in Penalty Shootout', 'sub_title' => '', 'summary' => 'December 7: Morocco kept the World Cup dreams of the Arab world alive as they eliminated fancied Spain in a penalty shootout on Tuesday to reach the quarter-finals.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Morocco kept the World Cup dreams of the Arab world alive as they eliminated fancied Spain in a penalty shootout on Tuesday to reach the quarter-finals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, Morocco became the first Arab nation to advance to the last eight, ensuring a breakthrough for the region in the first global tournament in the Middle East, and also became the fourth African side to go this far in World Cup history. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Morocco, who edged Spain 3-0 in the shootout after a 0-0 draw at the end of two hours of energy-sapping action, now have a chance to become both the Arab world and Africa's first-ever semi-finalists if they continue to use the overwhelming support that has backed them through an impressive array of results, added the news agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the BBC reported that Spain failed to convert any of their three penalties, with goalkeeper Yassine Bounou brilliantly saving two. That left Paris St-Germain's Achraf Hakimi - born and raised in Madrid no less - to win it with his nerveless spot-kick and spark jubilant scenes in the stands.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Morocco will next face Portugal in the quarter-final at Doha’s Al Thumama Stadium.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16207', 'image' => '20221207104634_AT65CKAYDZE726RR2YJF3NIZP4.jpg', 'article_date' => '2022-12-07 10:45:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16465', 'article_category_id' => '1', 'title' => 'Tourist Buses to Ply to World Heritage Sites for Foreign Visitors', 'sub_title' => '', 'summary' => 'December 6: The government has decided to operate five buses of Sajha Yatayat to facilitate tourists to visit world heritage sites in the Kathmandu Valley.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">December 6: The government has decided to operate five buses of Sajha Yatayat to facilitate tourists to visit world heritage sites in the Kathmandu Valley.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Under the “Tourism Revival Workplan”, the government will commence bus services from January 1, 2023. The buses will ply to Patan Durbar Square, Swoyambhu, Bauddha, and Pashupatinath Temple from the start of the English New Year. Likewise, tourist buses will be launched in the world heritage sites located in Bhaktapur after some weeks. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Once the tourists purchase the tickets, they can travel to the designated sites at their convenience and would not have to pay extra amount to visit other designated places. The bus service is expected to save tourists’ time and ease their travel. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Minister of Culture, Tourism, and Civil Aviation Jeevan Ram Shrestha said that the government was working to start bus services to help guests reach the world heritage sites and other important places with ease and convenience. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Earlier, the government had started a heritage route from world heritage site Basantpur Durbar Square to Swoyambhu to attract more tourists. Work is underway to develop necessary infrastructures along the route.</span></span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16206', 'image' => '20221206082610_basantapur.jpg', 'article_date' => '2022-12-06 20:25:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16464', 'article_category_id' => '1', 'title' => 'Share Transaction of 21 Companies still Suspended', 'sub_title' => '', 'summary' => 'December 6: The share transaction of 21 companies is yet to resume despite new legal provisions that allow suspension of trading of companies opting for merger or acquisition for a maximum of 15 working days.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 6: The share transaction of 21 companies is yet to resume despite new legal provisions that allow suspension of trading of companies opting for merger or acquisition for a maximum of 15 working days. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal has already implemented the Guidelines on Merger and Acquisition of Organized Institutions 2079 starting from November 10. According to the provisions in the guidelines, the share transaction of listed companies will be suspended for a maximum of 15 days once they complete all the processes required for merger or acquisition and start integrated business. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The share transaction of 34 companies which were in the process of merger or acquisition was suspended before the new guidelines were implemented. The suspension on trading of share other than primary shares of those companies should have been lifted as per the new provision.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">But the concerned bodies have lifted the suspension of only 13 companies. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the new arrangement, the companies should submit application to the securities market operator Nepal Stock Exchange Limited (NEPSE) and the central deposit service provider CDS and Clearing Limited (CDSC) to lift the suspension on share transactions of shares other than the primary shares.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEPSE, the operator of the securities market, has informed that the suspension of share transaction can be removed a day after the concerned company submits application with the details of the primary shareholders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEPSE spokesperson Murahari Parajuli said that it takes only a few minutes for the company to prepare the details of the primary shareholders. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16205', 'image' => '20221206053049_20190522025606_20190522121752_nepse.jpg', 'article_date' => '2022-12-06 17:30:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16463', 'article_category_id' => '1', 'title' => 'Four Cooperatives in Bauddha-Jorpati Area Turn Problematic', 'sub_title' => '', 'summary' => 'December 6: Four cooperatives in Bauddha-Jorpati area have turned problematic. Some of them have even closed their offices. Those who are still operating are not able to return the full deposits of the customers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 6: Four cooperatives in Bauddha-Jorpati area have turned problematic. Some of them have even closed their offices. Those who are still operating are not able to return the full deposits of the customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The problematic cooperatives include Sumo Savings and Cooperative, Bauddha-6, Mukti Savings and Credit Cooperative, Gokarnashwar-6, Manjushree Savings and Credit Cooperative, Jorpati-5, and Sworna Laxmi Savings and Credit Cooperative, Gokarnashwar-5. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Jorpati-based police beat informed New Business Age that and Sworna Laxmi Savings and Credit Cooperative has already removed its board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The depositors of Mukti Savings and Cooperatives have reached an understanding with the board members of the cooperative after they agreed to return the deposits. The two sides reached such understanding at the ward office in the area where the cooperative had been operating.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The depositors said that the cooperative agreed to return back their money at the initiative of ward chairman Navaraj Lama.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kabindra Adhikari, who runs a mobile shop in front of Manjushree Cooperative, says that he is doubtful if the cooperative will return back their money because the board members often pledge to return the amount but never keep their promise. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most of these cooperatives have stopped receiving calls from the customers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other depositors are alarmed because Manjushree Cooperative has remained closed since the past three months. The customers who reach the cooperative to withdraw their deposits have found notice posted on the office since August stating that the cooperative needs some more time to return the money. However, the cooperative is yet to return the money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the cooperative did not return the money on Sunday, after postponing the date several times, the depositors staged a sit-in at the main crossroads of Jorpati for two hours. Chariman of the cooperative Indra Lama and other board members did not receive phone calls. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another customers Umesh Khatiwada said that it has been seven months since the cooperative stopped returning their money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“They closed the office after Dashain,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the operators of the cooperative did not pick up the phone, the depositors reached the house of Chairman Lama.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lama said that the cooperative was unable to return the money because the borrowers were yet to pay the loan. He said that the cooperative owes Rs 110 million to the depositors while it has given out loans of Rs 70 million. It has a building worth Rs 50 million and a total capital of Rs 130 million. Therefore, Lama assured that the cooperative will pay back the depositors anyhow.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One of the depositors Shyam Lama says that they are in trouble because the government authorities responsible of looking after the issues related to cooperatives failed in effective monitoring the cooperatives. </span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16204', 'image' => '20221206030452_cooperative problematic.jpg', 'article_date' => '2022-12-06 15:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16462', 'article_category_id' => '1', 'title' => 'Murder and Corruption-Accused MPs to Miss Oath of Office and Secrecy', 'sub_title' => '', 'summary' => 'December 6: Five newly-elected lawmakers from the ruling coalition and the main opposition party will not be able to take oath of office and secrecy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 6: Five newly-elected lawmakers from the ruling coalition and the main opposition party will not be able to take oath of office and secrecy. Two members of lower house of the federal parliament and three members of provincial assemblies will not be administered oath of office and secrecy since they have pending court cases against them and are in the most wanted list of the police.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Laxmi Mahato Koiri elected to the House of Representatives from Mahottari-1 and Tek Bahadur Gurung elected to the HoR from Manang will miss their oath of office and secrecy. Gurung faces a corruption charge of Rs 310 million. The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against him and the case is sub-judice. The anti-graft body has implicated Gurung in a tender process for the Fun Park construction in Kathmandu.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Likewise, Koiri elected to the HoR from Mahottari-1 is in the police’s fugitive list for the murder of ASI Thaman BK. Koiri is accused of dragging the ASI from police van and killing him with spears and domestic weapons during the Madhes agitation. District Court Dhanusha had freed Mahato from jail on a bail of Rs 100,000. But, the Janakpur High Court had issued an arrest warrant later. He is still in the police’s most wanted list. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Similarly, Badshah Kurmi elected to Lumbini Provincial Assembly from Banke-3 (B), Rajiv Gurung aka Dipak Manange elected to Gandaki Provincial Assembly from Manang-B and Abhiram Sharma from Mahottari-3 (A) in Madhes Provincial Assembly will also miss the oath of office and secrecy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Abhiram Sharma is also accused of his involvement in ASI BK’s murder. Case against him is sub-judice at Mahottari District Court. Elected from Loktantraik Samajwadi Party, Sharma has already held the Ministry of Social Development in Madhes Province. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Rajiv Gurung has a case pending against him at the Supreme Court. He faces an attempt to murder charge. He has been accused of trying to murder Milan Gurung aka Chakremilan in a restaurant in Kathmandu. The case against him has moved to the Apex Court from High Court Patan. Another PA lawmaker Kurmi has been accused of killing Nirmala Kurmi and her two sons in Nepalgunj. He is in the police’s most wanted list. He had land dispute with Nirmala Kurmi for a long time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Legal professionals say that lawmaker is a public post and any elected member to the provincial assembly and federal parliament facing criminal charges will not be administered oath of office and secrecy. The law of the land bars people facing criminal charges from standing in the polls, let alone taking the oath of office and secrecy, say legal experts. </span></span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16203', 'image' => '20221206022110_KD_Kaski-1 (1).jpg', 'article_date' => '2022-12-06 14:20:29', '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' => '16476', 'article_category_id' => '1', 'title' => 'Bagmati Government Sets 25 Per Cent Limit For Cooperatives To Flow Credit In Real Estate', 'sub_title' => '', 'summary' => 'December 8: The Bagmati Province government has tightened the noose for cooperatives to disburse loan in the real estate sector.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 8: The Bagmati Province government has tightened the noose for cooperatives to disburse loan in the real estate sector. As per the new directives issued by the provincial government, cooperatives will be able to issue only 25 per cent of the total credit/loan in real estates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new provisions came into effect after the Ministry of Land Management, Cooperative and Poverty Alleviation implemented the Criteria and Provisions for Operation, Monitoring and Auditing of Cooperatives -2022 on Wednesday. The ministry implemented the new provisions stating that concentration of the loan in land and housing had increased the risk in cooperatives. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank has already set the limit for banks and financial institutions to disburse only 25 per cent of the total credit in housing and land. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While extending loan against collateral for housing and land, the ministry has directed the cooperatives not provide loans more than 40 percent of the total valuation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, issuing the Unified Directives in June-2022, the Federal Cooperative Department had issued directives to the cooperatives to classify the credit on the basis of sectors and disburse at least 51 per cent of the total credit in productive and income-generating enterprises. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new cooperatives standards by the provincial government have banned cooperatives from investing in overdraft, operators’ private businesses, gold and silver collateral. Similarly, cooperatives will not be able to float loan without any collateral. They may disburse the credit to customers only after the latter have deposited their money regularly for at least three months. Cooperatives are barred from considering interest as principal amount. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While floating the loan above Rs 1 million, they should have collateral’s valuation done by institutional valuators. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing provisions, cooperatives are registered with local, province and federal levels in accordance with their working area. Out of 30,000 cooperatives operating across the country, twenty thousand cooperatives are under the provinces’ jurisdictions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the country adopting the federal system, rights of cooperatives were transferred to the local and provincial levels. Implementation, however, has become ineffective. Bagmati Province’s Cooperative Registrar Balram Niraula said that lack of necessary laws and skilled manpower had made it hard for the management, regulation and monitoring of cooperatives despite their transfer to the local and provincial levels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Out of the total cooperatives, 80 per cent are under local levels, 19 per cent under provinces and only 1 per cent under the federal government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Failure on the part of local and province levels has led to the rise of malpractices in the cooperatives, said Niraula. He added that they were working to make the regulation and monitoring effective through new standards and criteria in Bagmati Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new criteria and standards have envisioned province and district-level mechanisms to monitor cooperatives effectively. The province-level committee chaired by Province government secretary comprises Province Cooperative Development Board’s Vice-chair, Province Registrar, Province Cooperative Federation’s Chair, and representatives from National Cooperative Federation, National Cooperative Bank, among others, as members. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee will have ministry’s law officer as its member secretary. The committee has been assigned the rights to identify and monitor the cooperatives and prepare reports about them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, new standards have envisioned a district-level monitoring and supervision committee. The committee has been delegated the responsibility to monitor and supervise the cooperatives and recommend to the province for necessary actions. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-08', 'modified' => '2022-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '16217', 'image' => '20221208120753_Real estate.jpg', 'article_date' => '2022-12-08 12:07:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16475', 'article_category_id' => '1', 'title' => 'Supply of Pure Drinking Water to Growing Population a Challenge: Experts', 'sub_title' => '', 'summary' => 'December 8: Experts said that it has become a mounting challenge to supply adequate pure drinking water, energy and food to the growing population of the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: Experts said that it has become a mounting challenge to supply adequate pure drinking water, energy and food to the growing population of the country. They made such remarks during a two-day workshop on water, energy and food nexus that concluded in Kathmandu on Wednesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the inauguration of the workshop, Secretary at the Ministry of Water Supply and Sanitation Maniram Gelal said that the demand for drinking water, energy and food has been increasing across the globe due to rapid urbanization and population growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former minister Ganesh Shah suggested that the challenges surfaced in the sector could be averted by protecting sources of water, utilizing rain water and developing technology on water efficiency for higher yields of crops and placing renewable energy measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former secretary Suman Prasad Sharma demanded serious interventions from concerned sides to reach out to the growing population with pure drinking water, adequate clean energy and nutrient-rich food. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Smart WASH Solutions Ramdeep Shah shared that the workshop was organized to learn the experiences of the advanced countries in addressing the issues of drinking water, clean energy and nourishing food in light of rising population. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">J W Lee of Asian Water Council and K-Water had delivered a presentation on how the Korea Water (K-Water) was working to address the challenges emerging in this sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Expert Dr Unahar Shin shed light on the inter-relationship between water, energy and food, urban water management, water leakage control and management style in congruent with sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prof Dr Bhim Shrestha of the Kathmandu University presented a paper on nexus between water, energy and food while Executive Director of Alternative Energy Promotion Centre (AEPC) Dr Madhusudan Adhikari presented a working paper on the contributions to drinking water, energy and food security through renewable energy technology in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-08', 'modified' => '2022-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '16216', 'image' => '20221208112046_Untitled.jpg', 'article_date' => '2022-12-08 11:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16474', 'article_category_id' => '1', 'title' => 'PM Commits to Take Initiative to Resolve the Economic Crisis', 'sub_title' => '', 'summary' => 'December 7: Prime Minister Sher Bahadur Deuba has assured the private sector to take the initiative in solving the problems seen in the economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 7: Prime Minister Sher Bahadur Deuba has assured the private sector to take the initiative in solving the problems seen in the economy. In a meeting with the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the prime minister promised to invite everyone for discussion to resolve the current problems.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI, which started a campaign to resolve the economic crisis, has been actively trying to meet top leaders of the political parties to resolve the economic problems. A delegation of FNCCI met Prime Minister Deuba in an attempt to find a way out. A press release issued by the FNCCI on Tuesday states that PM Deuba promised to resolve the issue by discussing it with the Ministry of Finance and the Nepal Rastra Bank along with the private sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI has already met CPN (UML) chairman KP Sharma Oli and CPN (Maoist Center) chair Pushpa Kamal Dahal separately and sought for their help to seek a solution to the problems. FNCCI had asked them to protect the country's economy as it under grave risk.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the statement of the federation, UML President Oli, in the meeting, admitted that the economy is in trouble, and he and his party were ready to work for a resolution. Chairman of the Maoist Center Dahal has also assured to take initiatives to solve the problem.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI team has also met Finance Minister Janardan Sharma and Minister for Industry, Commerce and Supplies Dilendra Prasad Badu. FNCCI has urged everyone to understand the sensitivity of the economy and also provide suggestions to solve the problem.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16215', 'image' => '20221207091118_20220616042445_ROS_KTM_6483441 (1).jpg', 'article_date' => '2022-12-07 21:10:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16473', 'article_category_id' => '1', 'title' => 'Production of Paddy, Millet Drops in Myagdi', 'sub_title' => '', 'summary' => 'December 7: Production of paddy and millet has declined in Myagdi this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 7: Production of paddy and millet has declined in Myagdi this year. Compared to last year, the production of paddy and millet has dropped by 11.50 per cent and 6.87 per cent respectively in the district. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the Agriculture Knowledge Center, Myagdi, productivity of paddy and millet has shrunk by 0.3 and 0.1 ton per hectare respectively. Drought during the time of plantation and seed-bearing affected paddy and millet production, said Agriculture Knowledge Center Myagdi’s Chief Kiran Sigdel. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Sigdel said that delayed cultivation and shade from the increasing nearby forests had also led to the drop in production. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Myagdi had produced 13,480 tons of paddy and 3,490 tons of millet last year. This year, the paddy production stood at 11,929 tons while the millet production was 3,250 tons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The agro center had conducted the study on the status of millet and paddy production using crop cutting methodology in various places of the district. As per the study, paddy production has declined from 3.4 tons to 3.1 tons per hectare while the productivity of millet has contracted to 1.27 tons per hectare from 1.28 tons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Agriculture technicians had used crop cutting methodology in various parts to identify productivity of millet and paddy in the district. Paddy and millet are cultivated in 2,750 hectares and 3, 890 hectares of the land respectively in the district. </span></span></span></p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16214', 'image' => '20221207063931_20201229023041_1609198819.Clipboard13.jpg', 'article_date' => '2022-12-07 18:38:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16472', 'article_category_id' => '1', 'title' => 'Tension Runs High at Supreme Court', 'sub_title' => '', 'summary' => 'December 7: Tension ran high at the Supreme Court after the Parliament Secretariat sent a letter to suspended Chief Justice Cholendra Shumsher Jung Bahadur Rana on Wednesday stating that the impeachment motion against him has become inactive.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">December 7: Tension ran high at the Supreme Court after the Parliament Secretariat sent a letter to suspended Chief Justice Cholendra Shumsher Jung Bahadur Rana on Wednesday stating that the impeachment motion against him has become inactive.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">The tension erupted after a woman threw a shoe in protest at the apex court gate as Rana was rumored to return back to office after the impeachment motion against him became inactive.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Police personnel were deployed at the SC premises to prevent any untoward incident as crowds of people advocating for Rana’s return and those opposing his comeback gathered at the main gate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">General Secretary of the Parliament Secretariat Dr Bharatraj Gautam had sent the letter to the Office of the President, Office of the Prime Minister and Council of Ministers, Office of the Constitutional Council, Supreme Court Judicial Council and Chief Justice Cholendra Shumsher Rana stating that the impeachment motion against Rana has become ineffective from today (December 7) itself. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Rana had written a letter to the Parliament Secretariat on Tuesday requesting it to write letters to the concerned agencies and persons to inform them about the motion becoming inactive after the election of the new parliament and failure of the erstwhile parliament to conclude the motion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">In line with the same request, the parliament secretariat had written to the concerned agencies and persons about the motion becoming ineffective. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16213', 'image' => '20221207050554_1670406649.jpg', 'article_date' => '2022-12-07 17:05:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16471', 'article_category_id' => '1', 'title' => 'Over Five thousand EVs Registered in Four Months', 'sub_title' => '', 'summary' => 'December 7: A total of 5,770 electric vehicles (EVs) were registered in Nepal in the last 4 months.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">December 7: A total of 5,770 electric vehicles (EVs) were registered in Nepal in the last 4 months. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The use of EVs was expected to rise after the government imposed a ban on high-end vehicles that run on diesel and petrol. However, the data suggests that the use of electric vehicles has not increased as expected.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The registration of electric vehicles is not much encouraging due to the absence of legal system to deal with EVs and a strategy to encourage the use of such vehicles.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the Department of Transport Management (DoTM), 20,693 new EVs were registered in the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The government had set a target of increasing the use of EVs to 20 percent by the year 2020 under the Environment Friendly Vehicles and Transport Policy 2071 and the National Action Plan for Electric Mobility 2075. However, even after two years since that deadline, the use of EVs is far less than the target.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Ishwari Datta Paneru, information officer of DoTM says that the target could not be achieved due to the difficulty in managing old vehicles and the lack of a new vehicle law. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“We are still operating according to the Vehicle and Transport Management Act 2049, some of the provisions of which are not up-to-date,” he said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that the lack of sufficient charging stations is also causing problems for the use of electric vehicles. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Nepal Electricity Authority spokesperson Suresh Bahadur Bhattarai informed that the work of making charging stations in 52 places across the country has reached its final stage. Spokesperson Bhattarai claims that apart from the authority, the private sector is also building charging stations at various places, so there will be no problem in the future.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Businessmen say that the demand for electric vehicles is high, which increased after the government introduced a policy of subsidizing electric vehicles. Dhruva Thapa, president of NADA Automobiles Association of Nepal, the umbrella organization of automobile dealers, said that the government's policy on electric vehicles is positive. Although the customs exemption facility given by the government on electric vehicles is giving positive results, it is very less compared to other countries.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16212', 'image' => '20221207025803_electric-car.jpg', 'article_date' => '2022-12-07 14:57:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16470', 'article_category_id' => '1', 'title' => 'Vote Counting Under Proportional Representation Over', 'sub_title' => '', 'summary' => 'December 7: Counting of votes for the House of Representatives and provincial assemblies under the proportional representation system has come to an end.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">December 7: Counting of votes for the House of Representatives and provincial assemblies under the proportional representation system has come to an end. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Election Commission Spokesperson Shalikram Sharma Poudel confirmed that vote counting in the proportional representation category has been over. According to the EC, as many as 1,056,0082 votes were counted in the PR category. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Out of the total votes counted, the CPN-UML has secured 2,845,641 votes while the Nepali Congress has garnered 2,715,225 votes followed by the CPN-Maoists Center with 1,175,684 votes and Rastriya Swatantra Party with 1,130,344 votes.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that Election Commission would send letters to the parties about the election results. Earlier, the parties had submitted the closed list of candidates to the commission under the PR category prior to the November 20 polls. As per the closed list, candidates will be elected in the proportional representation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">As per the votes garnered in proportional representation, CPN-UML will get 34 seats in the lower house of the federal parliament while the Nepali Congress will be allocated 32 seats. Likewise, CPN-Maoists Center will receive 14 seats whereas Rastriya Swatantra Party will attain 13 seats in the House of Representatives. Similarly, Rastriya Prajatantra Party will get seven seats while Janata Samajwadi Party and Janamat Party each will obtain 5 seats in the lower house. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">CPN-Unified Socialists have failed to cross the threshold of 300,000 votes despite winning 10 seats in the first-past-the post electoral system. This means that the party will not be recognized as a national party. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16211', 'image' => '20221207010739_KN_Damauli-image_6483441.jpg', 'article_date' => '2022-12-07 13:06:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16469', 'article_category_id' => '1', 'title' => 'Government Decides to Lift Ban on Import of Luxurious Goods', 'sub_title' => '', 'summary' => 'December 7: The government has decided to lift the ban imposed on the import of four types of luxurious goods.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 7: The government has decided to lift the ban imposed on the import of four types of luxurious goods. A cabinet meeting held on Tuesday took the decision to this effect. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">A source at the Ministry of Industry, Commerce and Supplies said that the cabinet meeting had agreed in principle not to prolong the import ban.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt"> The ban imposed on the import of smartphones priced above USD 300, cars, jeeps, vans, readymade liquor and motorcycles of more than 150 CC capacity by the ministry will remain in force until December 15. The ministry had presented the proposal not to extend the import ban to the Council of Ministers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Earlier, Nepal Rastra Bank and Ministry of Finance had recommended to the Ministry of Industry, Commerce and Supplies to lift the ban on the import of four kinds of goods. In accordance with the recommendation, the ministry had tabled the proposal in the Council of Ministers to remove the ban. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">After the state coffers witnessed depletion of foreign currency reserves, the Ministry of Commerce and Supplies had banned the import of 10 luxurious goods by publishing a notice in Nepal Gazette on April 26, 2022. Back then, the government had banned imports of ten items including large-sized colour television, playing cards, diamond except raw materials, cigarettes, and all kinds of toys, among others. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The primary purpose of the ban was to increase the foreign currency reserves and improve the balance of payments. </span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">With the ballooning trade deficit and rapid fall of foreign currency reserves, the government had started tightening the noose on imports of some goods since mid-December last year. Initially, Nepal Rastra Bank had set the limit on import of silver. After that, NRB set fifty per cent and 100 per cent cash margin provisions while opening letter of credit (LC) to import luxurious goods. Even with these measures in place, the import did not seem to decline. This had made the central bank to verbally direct the CEOs of commercial banks to stop opening LCs to import vehicles for personal use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">As a last measure, the government had decided to ban the import of luxurious goods. Nepali importers, however, claimed that import of goods other than two-wheelers and four-wheelers had not stopped despite the ban due to the open border which Nepal shares with India. They claimed that the banned items were being smuggled into the country unabated. The import ban has failed to meet the government’s revenue collection target as well. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16210', 'image' => '20221207010125_liquor.jpg', 'article_date' => '2022-12-07 13:00:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16468', 'article_category_id' => '1', 'title' => 'India, China Benefit from Cheaper Russian Oil', 'sub_title' => '', 'summary' => 'December 7: India and China have emerged as the largest buyers of Russian oil after Western nations decided to restrict purchases and impose sanctions on oil imports following Russian invasion of Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: India and China have emerged as the largest buyers of Russian oil after Western nations decided to restrict purchases and impose sanctions on oil imports following Russian invasion of Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, a plan by the major G7 economies - backed by the EU and Australia - to cap the price at which Russian oil is bought has created uncertainty in global markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">And as major oil-producing nations seek to maintain global prices by controlling output, Russia has been offering its oil at a discount to willing buyers in Asia, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“India's imports of Russian oil have risen from a very low base at the start of the year reaching a peak in June and July, and largely maintaining these levels through to November. China's purchases of Russian oil have fluctuated this year, falling in February at the start of Russia's invasion of Ukraine, but then rising significantly in the following months.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Russia has been selling oil at a discounted rate since March this year after the Ukraine invasion, BBC wrote in a news report published on its website on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In March, combined oil imports by China and India from Russia overtook those from the 27 EU member states. From late November, there appears to have been a renewed surge in oil purchases by India, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Experts suggest that if oil supplies continue at the same levels in December, Russia could become India's largest single supplier. Other countries have also taken advantage of discounted Russian crude - for example Sri Lanka, which has been grappling with a severe economic crisis. Pakistan has also been negotiating with Russia to purchase discounted oil, although no deal has yet been struck.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, the Indian government has defended its purchases from Russia, saying it has to source oil from where it is cheapest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Indian Oil Corporation (IOC) is the main supplier of petroleum product to Nepal but it is not certain whether the IOC will slash the fue prices for Nepal or not.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16209', 'image' => '20221207115422_oil.jpg', 'article_date' => '2022-12-07 11:52:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16467', 'article_category_id' => '1', 'title' => 'Ronaldo’s Replacement Stars as Portugal Demolish Switzerland 6-1', 'sub_title' => '', 'summary' => 'December 7: Portugal coach Fernando Santos dropped Cristiano Ronaldo from the starting line-up for their last-16 meeting with Switzerland and was rewarded with a hat-trick from replacement Goncalo Ramos and a stunning team display.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Portugal coach Fernando Santos dropped Cristiano Ronaldo from the starting line-up for their last-16 meeting with Switzerland on Tuesday and was rewarded with a hat-trick from replacement Goncalo Ramos and a stunning team display.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In a brave and bold move that turned out to be a coaching masterstroke, Santos left the five-time Ballon D'Or winner Ronaldo on the bench and gave the 21-year-old, nicknamed 'the Sorcerer', his first start, and the forward instantly lived up to his moniker, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, Santos expressed his displeasure at gestures made by Ronaldo when he was substituted in the last group game against South Korea and it was the first time in 31 games stretching back to 2008 that he had not started in a major tournament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Portugal made light of the 37-year-old's absence to put it mildly, as 21-year-old Benfica striker Ramos hit the first treble of this tournament on his first international start, to help set up a quarter-final against surprise package Morocco after their win against Spain on penalties, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ramos started the rout after 17 minutes when he drilled a finish past Swiss keeper Jan Sommer at the near post before veteran 39-year-old defender Pepe doubled Portugal's lead when he headed home Bruno Fernandes' corner in the 33rd minute.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, the dream full debut continued when Ramos effectively ended the contest with a near post swoop on Diogo Dalot's cross six minutes after the break, the striker turning provider to set up Raphael Guerriero to round off a sweeping move with a powerful strike four minutes later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manchester City defender Manuel Akanji pulled one back for Switzerland but Ramos swiftly got his third with a clever chip, which was the signal for the crowd at Lusail Stadium to noisily demand Ronaldo's introduction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Portugal coach Ramos obliged with the game won, Ronaldo entering to rapturous applause, but his team-mates deserve all the acclaim for a high-class performance. Ronaldo had the ball in the net but was ruled offside so it was another young pretender to his crown, 23-year-old Rafael Leao, who crowned a dazzling display when he curled in the sixth.”</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">a</span></span></p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16208', 'image' => '20221207105721_2559056-ram.jpg', 'article_date' => '2022-12-07 10:56:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16466', 'article_category_id' => '1', 'title' => 'Morocco Stun Spain in Penalty Shootout', 'sub_title' => '', 'summary' => 'December 7: Morocco kept the World Cup dreams of the Arab world alive as they eliminated fancied Spain in a penalty shootout on Tuesday to reach the quarter-finals.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Morocco kept the World Cup dreams of the Arab world alive as they eliminated fancied Spain in a penalty shootout on Tuesday to reach the quarter-finals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, Morocco became the first Arab nation to advance to the last eight, ensuring a breakthrough for the region in the first global tournament in the Middle East, and also became the fourth African side to go this far in World Cup history. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Morocco, who edged Spain 3-0 in the shootout after a 0-0 draw at the end of two hours of energy-sapping action, now have a chance to become both the Arab world and Africa's first-ever semi-finalists if they continue to use the overwhelming support that has backed them through an impressive array of results, added the news agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the BBC reported that Spain failed to convert any of their three penalties, with goalkeeper Yassine Bounou brilliantly saving two. That left Paris St-Germain's Achraf Hakimi - born and raised in Madrid no less - to win it with his nerveless spot-kick and spark jubilant scenes in the stands.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Morocco will next face Portugal in the quarter-final at Doha’s Al Thumama Stadium.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16207', 'image' => '20221207104634_AT65CKAYDZE726RR2YJF3NIZP4.jpg', 'article_date' => '2022-12-07 10:45:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16465', 'article_category_id' => '1', 'title' => 'Tourist Buses to Ply to World Heritage Sites for Foreign Visitors', 'sub_title' => '', 'summary' => 'December 6: The government has decided to operate five buses of Sajha Yatayat to facilitate tourists to visit world heritage sites in the Kathmandu Valley.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">December 6: The government has decided to operate five buses of Sajha Yatayat to facilitate tourists to visit world heritage sites in the Kathmandu Valley.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Under the “Tourism Revival Workplan”, the government will commence bus services from January 1, 2023. The buses will ply to Patan Durbar Square, Swoyambhu, Bauddha, and Pashupatinath Temple from the start of the English New Year. Likewise, tourist buses will be launched in the world heritage sites located in Bhaktapur after some weeks. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Once the tourists purchase the tickets, they can travel to the designated sites at their convenience and would not have to pay extra amount to visit other designated places. The bus service is expected to save tourists’ time and ease their travel. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Minister of Culture, Tourism, and Civil Aviation Jeevan Ram Shrestha said that the government was working to start bus services to help guests reach the world heritage sites and other important places with ease and convenience. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Earlier, the government had started a heritage route from world heritage site Basantpur Durbar Square to Swoyambhu to attract more tourists. Work is underway to develop necessary infrastructures along the route.</span></span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16206', 'image' => '20221206082610_basantapur.jpg', 'article_date' => '2022-12-06 20:25:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16464', 'article_category_id' => '1', 'title' => 'Share Transaction of 21 Companies still Suspended', 'sub_title' => '', 'summary' => 'December 6: The share transaction of 21 companies is yet to resume despite new legal provisions that allow suspension of trading of companies opting for merger or acquisition for a maximum of 15 working days.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 6: The share transaction of 21 companies is yet to resume despite new legal provisions that allow suspension of trading of companies opting for merger or acquisition for a maximum of 15 working days. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal has already implemented the Guidelines on Merger and Acquisition of Organized Institutions 2079 starting from November 10. According to the provisions in the guidelines, the share transaction of listed companies will be suspended for a maximum of 15 days once they complete all the processes required for merger or acquisition and start integrated business. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The share transaction of 34 companies which were in the process of merger or acquisition was suspended before the new guidelines were implemented. The suspension on trading of share other than primary shares of those companies should have been lifted as per the new provision.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">But the concerned bodies have lifted the suspension of only 13 companies. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the new arrangement, the companies should submit application to the securities market operator Nepal Stock Exchange Limited (NEPSE) and the central deposit service provider CDS and Clearing Limited (CDSC) to lift the suspension on share transactions of shares other than the primary shares.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEPSE, the operator of the securities market, has informed that the suspension of share transaction can be removed a day after the concerned company submits application with the details of the primary shareholders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEPSE spokesperson Murahari Parajuli said that it takes only a few minutes for the company to prepare the details of the primary shareholders. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16205', 'image' => '20221206053049_20190522025606_20190522121752_nepse.jpg', 'article_date' => '2022-12-06 17:30:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16463', 'article_category_id' => '1', 'title' => 'Four Cooperatives in Bauddha-Jorpati Area Turn Problematic', 'sub_title' => '', 'summary' => 'December 6: Four cooperatives in Bauddha-Jorpati area have turned problematic. Some of them have even closed their offices. Those who are still operating are not able to return the full deposits of the customers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 6: Four cooperatives in Bauddha-Jorpati area have turned problematic. Some of them have even closed their offices. Those who are still operating are not able to return the full deposits of the customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The problematic cooperatives include Sumo Savings and Cooperative, Bauddha-6, Mukti Savings and Credit Cooperative, Gokarnashwar-6, Manjushree Savings and Credit Cooperative, Jorpati-5, and Sworna Laxmi Savings and Credit Cooperative, Gokarnashwar-5. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Jorpati-based police beat informed New Business Age that and Sworna Laxmi Savings and Credit Cooperative has already removed its board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The depositors of Mukti Savings and Cooperatives have reached an understanding with the board members of the cooperative after they agreed to return the deposits. The two sides reached such understanding at the ward office in the area where the cooperative had been operating.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The depositors said that the cooperative agreed to return back their money at the initiative of ward chairman Navaraj Lama.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kabindra Adhikari, who runs a mobile shop in front of Manjushree Cooperative, says that he is doubtful if the cooperative will return back their money because the board members often pledge to return the amount but never keep their promise. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most of these cooperatives have stopped receiving calls from the customers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other depositors are alarmed because Manjushree Cooperative has remained closed since the past three months. The customers who reach the cooperative to withdraw their deposits have found notice posted on the office since August stating that the cooperative needs some more time to return the money. However, the cooperative is yet to return the money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the cooperative did not return the money on Sunday, after postponing the date several times, the depositors staged a sit-in at the main crossroads of Jorpati for two hours. Chariman of the cooperative Indra Lama and other board members did not receive phone calls. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another customers Umesh Khatiwada said that it has been seven months since the cooperative stopped returning their money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“They closed the office after Dashain,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the operators of the cooperative did not pick up the phone, the depositors reached the house of Chairman Lama.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lama said that the cooperative was unable to return the money because the borrowers were yet to pay the loan. He said that the cooperative owes Rs 110 million to the depositors while it has given out loans of Rs 70 million. It has a building worth Rs 50 million and a total capital of Rs 130 million. Therefore, Lama assured that the cooperative will pay back the depositors anyhow.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One of the depositors Shyam Lama says that they are in trouble because the government authorities responsible of looking after the issues related to cooperatives failed in effective monitoring the cooperatives. </span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16204', 'image' => '20221206030452_cooperative problematic.jpg', 'article_date' => '2022-12-06 15:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16462', 'article_category_id' => '1', 'title' => 'Murder and Corruption-Accused MPs to Miss Oath of Office and Secrecy', 'sub_title' => '', 'summary' => 'December 6: Five newly-elected lawmakers from the ruling coalition and the main opposition party will not be able to take oath of office and secrecy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 6: Five newly-elected lawmakers from the ruling coalition and the main opposition party will not be able to take oath of office and secrecy. Two members of lower house of the federal parliament and three members of provincial assemblies will not be administered oath of office and secrecy since they have pending court cases against them and are in the most wanted list of the police.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Laxmi Mahato Koiri elected to the House of Representatives from Mahottari-1 and Tek Bahadur Gurung elected to the HoR from Manang will miss their oath of office and secrecy. Gurung faces a corruption charge of Rs 310 million. The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against him and the case is sub-judice. The anti-graft body has implicated Gurung in a tender process for the Fun Park construction in Kathmandu.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Likewise, Koiri elected to the HoR from Mahottari-1 is in the police’s fugitive list for the murder of ASI Thaman BK. Koiri is accused of dragging the ASI from police van and killing him with spears and domestic weapons during the Madhes agitation. District Court Dhanusha had freed Mahato from jail on a bail of Rs 100,000. But, the Janakpur High Court had issued an arrest warrant later. He is still in the police’s most wanted list. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Similarly, Badshah Kurmi elected to Lumbini Provincial Assembly from Banke-3 (B), Rajiv Gurung aka Dipak Manange elected to Gandaki Provincial Assembly from Manang-B and Abhiram Sharma from Mahottari-3 (A) in Madhes Provincial Assembly will also miss the oath of office and secrecy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Abhiram Sharma is also accused of his involvement in ASI BK’s murder. Case against him is sub-judice at Mahottari District Court. Elected from Loktantraik Samajwadi Party, Sharma has already held the Ministry of Social Development in Madhes Province. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Rajiv Gurung has a case pending against him at the Supreme Court. He faces an attempt to murder charge. He has been accused of trying to murder Milan Gurung aka Chakremilan in a restaurant in Kathmandu. The case against him has moved to the Apex Court from High Court Patan. Another PA lawmaker Kurmi has been accused of killing Nirmala Kurmi and her two sons in Nepalgunj. He is in the police’s most wanted list. He had land dispute with Nirmala Kurmi for a long time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Legal professionals say that lawmaker is a public post and any elected member to the provincial assembly and federal parliament facing criminal charges will not be administered oath of office and secrecy. The law of the land bars people facing criminal charges from standing in the polls, let alone taking the oath of office and secrecy, say legal experts. </span></span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16203', 'image' => '20221206022110_KD_Kaski-1 (1).jpg', 'article_date' => '2022-12-06 14:20:29', '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' => '16476', 'article_category_id' => '1', 'title' => 'Bagmati Government Sets 25 Per Cent Limit For Cooperatives To Flow Credit In Real Estate', 'sub_title' => '', 'summary' => 'December 8: The Bagmati Province government has tightened the noose for cooperatives to disburse loan in the real estate sector.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 8: The Bagmati Province government has tightened the noose for cooperatives to disburse loan in the real estate sector. As per the new directives issued by the provincial government, cooperatives will be able to issue only 25 per cent of the total credit/loan in real estates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new provisions came into effect after the Ministry of Land Management, Cooperative and Poverty Alleviation implemented the Criteria and Provisions for Operation, Monitoring and Auditing of Cooperatives -2022 on Wednesday. The ministry implemented the new provisions stating that concentration of the loan in land and housing had increased the risk in cooperatives. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank has already set the limit for banks and financial institutions to disburse only 25 per cent of the total credit in housing and land. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While extending loan against collateral for housing and land, the ministry has directed the cooperatives not provide loans more than 40 percent of the total valuation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, issuing the Unified Directives in June-2022, the Federal Cooperative Department had issued directives to the cooperatives to classify the credit on the basis of sectors and disburse at least 51 per cent of the total credit in productive and income-generating enterprises. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new cooperatives standards by the provincial government have banned cooperatives from investing in overdraft, operators’ private businesses, gold and silver collateral. Similarly, cooperatives will not be able to float loan without any collateral. They may disburse the credit to customers only after the latter have deposited their money regularly for at least three months. Cooperatives are barred from considering interest as principal amount. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While floating the loan above Rs 1 million, they should have collateral’s valuation done by institutional valuators. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing provisions, cooperatives are registered with local, province and federal levels in accordance with their working area. Out of 30,000 cooperatives operating across the country, twenty thousand cooperatives are under the provinces’ jurisdictions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the country adopting the federal system, rights of cooperatives were transferred to the local and provincial levels. Implementation, however, has become ineffective. Bagmati Province’s Cooperative Registrar Balram Niraula said that lack of necessary laws and skilled manpower had made it hard for the management, regulation and monitoring of cooperatives despite their transfer to the local and provincial levels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Out of the total cooperatives, 80 per cent are under local levels, 19 per cent under provinces and only 1 per cent under the federal government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Failure on the part of local and province levels has led to the rise of malpractices in the cooperatives, said Niraula. He added that they were working to make the regulation and monitoring effective through new standards and criteria in Bagmati Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new criteria and standards have envisioned province and district-level mechanisms to monitor cooperatives effectively. The province-level committee chaired by Province government secretary comprises Province Cooperative Development Board’s Vice-chair, Province Registrar, Province Cooperative Federation’s Chair, and representatives from National Cooperative Federation, National Cooperative Bank, among others, as members. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee will have ministry’s law officer as its member secretary. The committee has been assigned the rights to identify and monitor the cooperatives and prepare reports about them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, new standards have envisioned a district-level monitoring and supervision committee. The committee has been delegated the responsibility to monitor and supervise the cooperatives and recommend to the province for necessary actions. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-08', 'modified' => '2022-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '16217', 'image' => '20221208120753_Real estate.jpg', 'article_date' => '2022-12-08 12:07:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16475', 'article_category_id' => '1', 'title' => 'Supply of Pure Drinking Water to Growing Population a Challenge: Experts', 'sub_title' => '', 'summary' => 'December 8: Experts said that it has become a mounting challenge to supply adequate pure drinking water, energy and food to the growing population of the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: Experts said that it has become a mounting challenge to supply adequate pure drinking water, energy and food to the growing population of the country. They made such remarks during a two-day workshop on water, energy and food nexus that concluded in Kathmandu on Wednesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the inauguration of the workshop, Secretary at the Ministry of Water Supply and Sanitation Maniram Gelal said that the demand for drinking water, energy and food has been increasing across the globe due to rapid urbanization and population growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former minister Ganesh Shah suggested that the challenges surfaced in the sector could be averted by protecting sources of water, utilizing rain water and developing technology on water efficiency for higher yields of crops and placing renewable energy measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former secretary Suman Prasad Sharma demanded serious interventions from concerned sides to reach out to the growing population with pure drinking water, adequate clean energy and nutrient-rich food. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Smart WASH Solutions Ramdeep Shah shared that the workshop was organized to learn the experiences of the advanced countries in addressing the issues of drinking water, clean energy and nourishing food in light of rising population. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">J W Lee of Asian Water Council and K-Water had delivered a presentation on how the Korea Water (K-Water) was working to address the challenges emerging in this sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Expert Dr Unahar Shin shed light on the inter-relationship between water, energy and food, urban water management, water leakage control and management style in congruent with sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prof Dr Bhim Shrestha of the Kathmandu University presented a paper on nexus between water, energy and food while Executive Director of Alternative Energy Promotion Centre (AEPC) Dr Madhusudan Adhikari presented a working paper on the contributions to drinking water, energy and food security through renewable energy technology in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-08', 'modified' => '2022-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '16216', 'image' => '20221208112046_Untitled.jpg', 'article_date' => '2022-12-08 11:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16474', 'article_category_id' => '1', 'title' => 'PM Commits to Take Initiative to Resolve the Economic Crisis', 'sub_title' => '', 'summary' => 'December 7: Prime Minister Sher Bahadur Deuba has assured the private sector to take the initiative in solving the problems seen in the economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 7: Prime Minister Sher Bahadur Deuba has assured the private sector to take the initiative in solving the problems seen in the economy. In a meeting with the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the prime minister promised to invite everyone for discussion to resolve the current problems.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI, which started a campaign to resolve the economic crisis, has been actively trying to meet top leaders of the political parties to resolve the economic problems. A delegation of FNCCI met Prime Minister Deuba in an attempt to find a way out. A press release issued by the FNCCI on Tuesday states that PM Deuba promised to resolve the issue by discussing it with the Ministry of Finance and the Nepal Rastra Bank along with the private sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI has already met CPN (UML) chairman KP Sharma Oli and CPN (Maoist Center) chair Pushpa Kamal Dahal separately and sought for their help to seek a solution to the problems. FNCCI had asked them to protect the country's economy as it under grave risk.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the statement of the federation, UML President Oli, in the meeting, admitted that the economy is in trouble, and he and his party were ready to work for a resolution. Chairman of the Maoist Center Dahal has also assured to take initiatives to solve the problem.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI team has also met Finance Minister Janardan Sharma and Minister for Industry, Commerce and Supplies Dilendra Prasad Badu. FNCCI has urged everyone to understand the sensitivity of the economy and also provide suggestions to solve the problem.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16215', 'image' => '20221207091118_20220616042445_ROS_KTM_6483441 (1).jpg', 'article_date' => '2022-12-07 21:10:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16473', 'article_category_id' => '1', 'title' => 'Production of Paddy, Millet Drops in Myagdi', 'sub_title' => '', 'summary' => 'December 7: Production of paddy and millet has declined in Myagdi this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 7: Production of paddy and millet has declined in Myagdi this year. Compared to last year, the production of paddy and millet has dropped by 11.50 per cent and 6.87 per cent respectively in the district. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the Agriculture Knowledge Center, Myagdi, productivity of paddy and millet has shrunk by 0.3 and 0.1 ton per hectare respectively. Drought during the time of plantation and seed-bearing affected paddy and millet production, said Agriculture Knowledge Center Myagdi’s Chief Kiran Sigdel. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Sigdel said that delayed cultivation and shade from the increasing nearby forests had also led to the drop in production. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Myagdi had produced 13,480 tons of paddy and 3,490 tons of millet last year. This year, the paddy production stood at 11,929 tons while the millet production was 3,250 tons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The agro center had conducted the study on the status of millet and paddy production using crop cutting methodology in various places of the district. As per the study, paddy production has declined from 3.4 tons to 3.1 tons per hectare while the productivity of millet has contracted to 1.27 tons per hectare from 1.28 tons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Agriculture technicians had used crop cutting methodology in various parts to identify productivity of millet and paddy in the district. Paddy and millet are cultivated in 2,750 hectares and 3, 890 hectares of the land respectively in the district. </span></span></span></p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16214', 'image' => '20221207063931_20201229023041_1609198819.Clipboard13.jpg', 'article_date' => '2022-12-07 18:38:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16472', 'article_category_id' => '1', 'title' => 'Tension Runs High at Supreme Court', 'sub_title' => '', 'summary' => 'December 7: Tension ran high at the Supreme Court after the Parliament Secretariat sent a letter to suspended Chief Justice Cholendra Shumsher Jung Bahadur Rana on Wednesday stating that the impeachment motion against him has become inactive.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">December 7: Tension ran high at the Supreme Court after the Parliament Secretariat sent a letter to suspended Chief Justice Cholendra Shumsher Jung Bahadur Rana on Wednesday stating that the impeachment motion against him has become inactive.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">The tension erupted after a woman threw a shoe in protest at the apex court gate as Rana was rumored to return back to office after the impeachment motion against him became inactive.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Police personnel were deployed at the SC premises to prevent any untoward incident as crowds of people advocating for Rana’s return and those opposing his comeback gathered at the main gate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">General Secretary of the Parliament Secretariat Dr Bharatraj Gautam had sent the letter to the Office of the President, Office of the Prime Minister and Council of Ministers, Office of the Constitutional Council, Supreme Court Judicial Council and Chief Justice Cholendra Shumsher Rana stating that the impeachment motion against Rana has become ineffective from today (December 7) itself. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Rana had written a letter to the Parliament Secretariat on Tuesday requesting it to write letters to the concerned agencies and persons to inform them about the motion becoming inactive after the election of the new parliament and failure of the erstwhile parliament to conclude the motion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">In line with the same request, the parliament secretariat had written to the concerned agencies and persons about the motion becoming ineffective. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16213', 'image' => '20221207050554_1670406649.jpg', 'article_date' => '2022-12-07 17:05:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16471', 'article_category_id' => '1', 'title' => 'Over Five thousand EVs Registered in Four Months', 'sub_title' => '', 'summary' => 'December 7: A total of 5,770 electric vehicles (EVs) were registered in Nepal in the last 4 months.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">December 7: A total of 5,770 electric vehicles (EVs) were registered in Nepal in the last 4 months. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The use of EVs was expected to rise after the government imposed a ban on high-end vehicles that run on diesel and petrol. However, the data suggests that the use of electric vehicles has not increased as expected.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The registration of electric vehicles is not much encouraging due to the absence of legal system to deal with EVs and a strategy to encourage the use of such vehicles.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the Department of Transport Management (DoTM), 20,693 new EVs were registered in the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The government had set a target of increasing the use of EVs to 20 percent by the year 2020 under the Environment Friendly Vehicles and Transport Policy 2071 and the National Action Plan for Electric Mobility 2075. However, even after two years since that deadline, the use of EVs is far less than the target.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Ishwari Datta Paneru, information officer of DoTM says that the target could not be achieved due to the difficulty in managing old vehicles and the lack of a new vehicle law. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“We are still operating according to the Vehicle and Transport Management Act 2049, some of the provisions of which are not up-to-date,” he said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that the lack of sufficient charging stations is also causing problems for the use of electric vehicles. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Nepal Electricity Authority spokesperson Suresh Bahadur Bhattarai informed that the work of making charging stations in 52 places across the country has reached its final stage. Spokesperson Bhattarai claims that apart from the authority, the private sector is also building charging stations at various places, so there will be no problem in the future.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Businessmen say that the demand for electric vehicles is high, which increased after the government introduced a policy of subsidizing electric vehicles. Dhruva Thapa, president of NADA Automobiles Association of Nepal, the umbrella organization of automobile dealers, said that the government's policy on electric vehicles is positive. Although the customs exemption facility given by the government on electric vehicles is giving positive results, it is very less compared to other countries.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16212', 'image' => '20221207025803_electric-car.jpg', 'article_date' => '2022-12-07 14:57:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16470', 'article_category_id' => '1', 'title' => 'Vote Counting Under Proportional Representation Over', 'sub_title' => '', 'summary' => 'December 7: Counting of votes for the House of Representatives and provincial assemblies under the proportional representation system has come to an end.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">December 7: Counting of votes for the House of Representatives and provincial assemblies under the proportional representation system has come to an end. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Election Commission Spokesperson Shalikram Sharma Poudel confirmed that vote counting in the proportional representation category has been over. According to the EC, as many as 1,056,0082 votes were counted in the PR category. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Out of the total votes counted, the CPN-UML has secured 2,845,641 votes while the Nepali Congress has garnered 2,715,225 votes followed by the CPN-Maoists Center with 1,175,684 votes and Rastriya Swatantra Party with 1,130,344 votes.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that Election Commission would send letters to the parties about the election results. Earlier, the parties had submitted the closed list of candidates to the commission under the PR category prior to the November 20 polls. As per the closed list, candidates will be elected in the proportional representation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">As per the votes garnered in proportional representation, CPN-UML will get 34 seats in the lower house of the federal parliament while the Nepali Congress will be allocated 32 seats. Likewise, CPN-Maoists Center will receive 14 seats whereas Rastriya Swatantra Party will attain 13 seats in the House of Representatives. Similarly, Rastriya Prajatantra Party will get seven seats while Janata Samajwadi Party and Janamat Party each will obtain 5 seats in the lower house. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">CPN-Unified Socialists have failed to cross the threshold of 300,000 votes despite winning 10 seats in the first-past-the post electoral system. This means that the party will not be recognized as a national party. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16211', 'image' => '20221207010739_KN_Damauli-image_6483441.jpg', 'article_date' => '2022-12-07 13:06:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16469', 'article_category_id' => '1', 'title' => 'Government Decides to Lift Ban on Import of Luxurious Goods', 'sub_title' => '', 'summary' => 'December 7: The government has decided to lift the ban imposed on the import of four types of luxurious goods.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 7: The government has decided to lift the ban imposed on the import of four types of luxurious goods. A cabinet meeting held on Tuesday took the decision to this effect. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">A source at the Ministry of Industry, Commerce and Supplies said that the cabinet meeting had agreed in principle not to prolong the import ban.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt"> The ban imposed on the import of smartphones priced above USD 300, cars, jeeps, vans, readymade liquor and motorcycles of more than 150 CC capacity by the ministry will remain in force until December 15. The ministry had presented the proposal not to extend the import ban to the Council of Ministers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Earlier, Nepal Rastra Bank and Ministry of Finance had recommended to the Ministry of Industry, Commerce and Supplies to lift the ban on the import of four kinds of goods. In accordance with the recommendation, the ministry had tabled the proposal in the Council of Ministers to remove the ban. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">After the state coffers witnessed depletion of foreign currency reserves, the Ministry of Commerce and Supplies had banned the import of 10 luxurious goods by publishing a notice in Nepal Gazette on April 26, 2022. Back then, the government had banned imports of ten items including large-sized colour television, playing cards, diamond except raw materials, cigarettes, and all kinds of toys, among others. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The primary purpose of the ban was to increase the foreign currency reserves and improve the balance of payments. </span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">With the ballooning trade deficit and rapid fall of foreign currency reserves, the government had started tightening the noose on imports of some goods since mid-December last year. Initially, Nepal Rastra Bank had set the limit on import of silver. After that, NRB set fifty per cent and 100 per cent cash margin provisions while opening letter of credit (LC) to import luxurious goods. Even with these measures in place, the import did not seem to decline. This had made the central bank to verbally direct the CEOs of commercial banks to stop opening LCs to import vehicles for personal use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">As a last measure, the government had decided to ban the import of luxurious goods. Nepali importers, however, claimed that import of goods other than two-wheelers and four-wheelers had not stopped despite the ban due to the open border which Nepal shares with India. They claimed that the banned items were being smuggled into the country unabated. The import ban has failed to meet the government’s revenue collection target as well. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16210', 'image' => '20221207010125_liquor.jpg', 'article_date' => '2022-12-07 13:00:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16468', 'article_category_id' => '1', 'title' => 'India, China Benefit from Cheaper Russian Oil', 'sub_title' => '', 'summary' => 'December 7: India and China have emerged as the largest buyers of Russian oil after Western nations decided to restrict purchases and impose sanctions on oil imports following Russian invasion of Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: India and China have emerged as the largest buyers of Russian oil after Western nations decided to restrict purchases and impose sanctions on oil imports following Russian invasion of Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, a plan by the major G7 economies - backed by the EU and Australia - to cap the price at which Russian oil is bought has created uncertainty in global markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">And as major oil-producing nations seek to maintain global prices by controlling output, Russia has been offering its oil at a discount to willing buyers in Asia, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“India's imports of Russian oil have risen from a very low base at the start of the year reaching a peak in June and July, and largely maintaining these levels through to November. China's purchases of Russian oil have fluctuated this year, falling in February at the start of Russia's invasion of Ukraine, but then rising significantly in the following months.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Russia has been selling oil at a discounted rate since March this year after the Ukraine invasion, BBC wrote in a news report published on its website on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In March, combined oil imports by China and India from Russia overtook those from the 27 EU member states. From late November, there appears to have been a renewed surge in oil purchases by India, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Experts suggest that if oil supplies continue at the same levels in December, Russia could become India's largest single supplier. Other countries have also taken advantage of discounted Russian crude - for example Sri Lanka, which has been grappling with a severe economic crisis. Pakistan has also been negotiating with Russia to purchase discounted oil, although no deal has yet been struck.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, the Indian government has defended its purchases from Russia, saying it has to source oil from where it is cheapest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Indian Oil Corporation (IOC) is the main supplier of petroleum product to Nepal but it is not certain whether the IOC will slash the fue prices for Nepal or not.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16209', 'image' => '20221207115422_oil.jpg', 'article_date' => '2022-12-07 11:52:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16467', 'article_category_id' => '1', 'title' => 'Ronaldo’s Replacement Stars as Portugal Demolish Switzerland 6-1', 'sub_title' => '', 'summary' => 'December 7: Portugal coach Fernando Santos dropped Cristiano Ronaldo from the starting line-up for their last-16 meeting with Switzerland and was rewarded with a hat-trick from replacement Goncalo Ramos and a stunning team display.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Portugal coach Fernando Santos dropped Cristiano Ronaldo from the starting line-up for their last-16 meeting with Switzerland on Tuesday and was rewarded with a hat-trick from replacement Goncalo Ramos and a stunning team display.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In a brave and bold move that turned out to be a coaching masterstroke, Santos left the five-time Ballon D'Or winner Ronaldo on the bench and gave the 21-year-old, nicknamed 'the Sorcerer', his first start, and the forward instantly lived up to his moniker, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, Santos expressed his displeasure at gestures made by Ronaldo when he was substituted in the last group game against South Korea and it was the first time in 31 games stretching back to 2008 that he had not started in a major tournament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Portugal made light of the 37-year-old's absence to put it mildly, as 21-year-old Benfica striker Ramos hit the first treble of this tournament on his first international start, to help set up a quarter-final against surprise package Morocco after their win against Spain on penalties, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ramos started the rout after 17 minutes when he drilled a finish past Swiss keeper Jan Sommer at the near post before veteran 39-year-old defender Pepe doubled Portugal's lead when he headed home Bruno Fernandes' corner in the 33rd minute.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, the dream full debut continued when Ramos effectively ended the contest with a near post swoop on Diogo Dalot's cross six minutes after the break, the striker turning provider to set up Raphael Guerriero to round off a sweeping move with a powerful strike four minutes later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manchester City defender Manuel Akanji pulled one back for Switzerland but Ramos swiftly got his third with a clever chip, which was the signal for the crowd at Lusail Stadium to noisily demand Ronaldo's introduction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Portugal coach Ramos obliged with the game won, Ronaldo entering to rapturous applause, but his team-mates deserve all the acclaim for a high-class performance. Ronaldo had the ball in the net but was ruled offside so it was another young pretender to his crown, 23-year-old Rafael Leao, who crowned a dazzling display when he curled in the sixth.”</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">a</span></span></p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16208', 'image' => '20221207105721_2559056-ram.jpg', 'article_date' => '2022-12-07 10:56:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16466', 'article_category_id' => '1', 'title' => 'Morocco Stun Spain in Penalty Shootout', 'sub_title' => '', 'summary' => 'December 7: Morocco kept the World Cup dreams of the Arab world alive as they eliminated fancied Spain in a penalty shootout on Tuesday to reach the quarter-finals.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Morocco kept the World Cup dreams of the Arab world alive as they eliminated fancied Spain in a penalty shootout on Tuesday to reach the quarter-finals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, Morocco became the first Arab nation to advance to the last eight, ensuring a breakthrough for the region in the first global tournament in the Middle East, and also became the fourth African side to go this far in World Cup history. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Morocco, who edged Spain 3-0 in the shootout after a 0-0 draw at the end of two hours of energy-sapping action, now have a chance to become both the Arab world and Africa's first-ever semi-finalists if they continue to use the overwhelming support that has backed them through an impressive array of results, added the news agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the BBC reported that Spain failed to convert any of their three penalties, with goalkeeper Yassine Bounou brilliantly saving two. That left Paris St-Germain's Achraf Hakimi - born and raised in Madrid no less - to win it with his nerveless spot-kick and spark jubilant scenes in the stands.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Morocco will next face Portugal in the quarter-final at Doha’s Al Thumama Stadium.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16207', 'image' => '20221207104634_AT65CKAYDZE726RR2YJF3NIZP4.jpg', 'article_date' => '2022-12-07 10:45:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16465', 'article_category_id' => '1', 'title' => 'Tourist Buses to Ply to World Heritage Sites for Foreign Visitors', 'sub_title' => '', 'summary' => 'December 6: The government has decided to operate five buses of Sajha Yatayat to facilitate tourists to visit world heritage sites in the Kathmandu Valley.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">December 6: The government has decided to operate five buses of Sajha Yatayat to facilitate tourists to visit world heritage sites in the Kathmandu Valley.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Under the “Tourism Revival Workplan”, the government will commence bus services from January 1, 2023. The buses will ply to Patan Durbar Square, Swoyambhu, Bauddha, and Pashupatinath Temple from the start of the English New Year. Likewise, tourist buses will be launched in the world heritage sites located in Bhaktapur after some weeks. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Once the tourists purchase the tickets, they can travel to the designated sites at their convenience and would not have to pay extra amount to visit other designated places. The bus service is expected to save tourists’ time and ease their travel. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Minister of Culture, Tourism, and Civil Aviation Jeevan Ram Shrestha said that the government was working to start bus services to help guests reach the world heritage sites and other important places with ease and convenience. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Earlier, the government had started a heritage route from world heritage site Basantpur Durbar Square to Swoyambhu to attract more tourists. Work is underway to develop necessary infrastructures along the route.</span></span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16206', 'image' => '20221206082610_basantapur.jpg', 'article_date' => '2022-12-06 20:25:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16464', 'article_category_id' => '1', 'title' => 'Share Transaction of 21 Companies still Suspended', 'sub_title' => '', 'summary' => 'December 6: The share transaction of 21 companies is yet to resume despite new legal provisions that allow suspension of trading of companies opting for merger or acquisition for a maximum of 15 working days.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 6: The share transaction of 21 companies is yet to resume despite new legal provisions that allow suspension of trading of companies opting for merger or acquisition for a maximum of 15 working days. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal has already implemented the Guidelines on Merger and Acquisition of Organized Institutions 2079 starting from November 10. According to the provisions in the guidelines, the share transaction of listed companies will be suspended for a maximum of 15 days once they complete all the processes required for merger or acquisition and start integrated business. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The share transaction of 34 companies which were in the process of merger or acquisition was suspended before the new guidelines were implemented. The suspension on trading of share other than primary shares of those companies should have been lifted as per the new provision.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">But the concerned bodies have lifted the suspension of only 13 companies. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the new arrangement, the companies should submit application to the securities market operator Nepal Stock Exchange Limited (NEPSE) and the central deposit service provider CDS and Clearing Limited (CDSC) to lift the suspension on share transactions of shares other than the primary shares.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEPSE, the operator of the securities market, has informed that the suspension of share transaction can be removed a day after the concerned company submits application with the details of the primary shareholders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEPSE spokesperson Murahari Parajuli said that it takes only a few minutes for the company to prepare the details of the primary shareholders. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16205', 'image' => '20221206053049_20190522025606_20190522121752_nepse.jpg', 'article_date' => '2022-12-06 17:30:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16463', 'article_category_id' => '1', 'title' => 'Four Cooperatives in Bauddha-Jorpati Area Turn Problematic', 'sub_title' => '', 'summary' => 'December 6: Four cooperatives in Bauddha-Jorpati area have turned problematic. Some of them have even closed their offices. Those who are still operating are not able to return the full deposits of the customers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 6: Four cooperatives in Bauddha-Jorpati area have turned problematic. Some of them have even closed their offices. Those who are still operating are not able to return the full deposits of the customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The problematic cooperatives include Sumo Savings and Cooperative, Bauddha-6, Mukti Savings and Credit Cooperative, Gokarnashwar-6, Manjushree Savings and Credit Cooperative, Jorpati-5, and Sworna Laxmi Savings and Credit Cooperative, Gokarnashwar-5. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Jorpati-based police beat informed New Business Age that and Sworna Laxmi Savings and Credit Cooperative has already removed its board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The depositors of Mukti Savings and Cooperatives have reached an understanding with the board members of the cooperative after they agreed to return the deposits. The two sides reached such understanding at the ward office in the area where the cooperative had been operating.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The depositors said that the cooperative agreed to return back their money at the initiative of ward chairman Navaraj Lama.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kabindra Adhikari, who runs a mobile shop in front of Manjushree Cooperative, says that he is doubtful if the cooperative will return back their money because the board members often pledge to return the amount but never keep their promise. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most of these cooperatives have stopped receiving calls from the customers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other depositors are alarmed because Manjushree Cooperative has remained closed since the past three months. The customers who reach the cooperative to withdraw their deposits have found notice posted on the office since August stating that the cooperative needs some more time to return the money. However, the cooperative is yet to return the money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the cooperative did not return the money on Sunday, after postponing the date several times, the depositors staged a sit-in at the main crossroads of Jorpati for two hours. Chariman of the cooperative Indra Lama and other board members did not receive phone calls. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another customers Umesh Khatiwada said that it has been seven months since the cooperative stopped returning their money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“They closed the office after Dashain,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the operators of the cooperative did not pick up the phone, the depositors reached the house of Chairman Lama.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lama said that the cooperative was unable to return the money because the borrowers were yet to pay the loan. He said that the cooperative owes Rs 110 million to the depositors while it has given out loans of Rs 70 million. It has a building worth Rs 50 million and a total capital of Rs 130 million. Therefore, Lama assured that the cooperative will pay back the depositors anyhow.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One of the depositors Shyam Lama says that they are in trouble because the government authorities responsible of looking after the issues related to cooperatives failed in effective monitoring the cooperatives. </span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16204', 'image' => '20221206030452_cooperative problematic.jpg', 'article_date' => '2022-12-06 15:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16462', 'article_category_id' => '1', 'title' => 'Murder and Corruption-Accused MPs to Miss Oath of Office and Secrecy', 'sub_title' => '', 'summary' => 'December 6: Five newly-elected lawmakers from the ruling coalition and the main opposition party will not be able to take oath of office and secrecy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 6: Five newly-elected lawmakers from the ruling coalition and the main opposition party will not be able to take oath of office and secrecy. Two members of lower house of the federal parliament and three members of provincial assemblies will not be administered oath of office and secrecy since they have pending court cases against them and are in the most wanted list of the police.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Laxmi Mahato Koiri elected to the House of Representatives from Mahottari-1 and Tek Bahadur Gurung elected to the HoR from Manang will miss their oath of office and secrecy. Gurung faces a corruption charge of Rs 310 million. The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against him and the case is sub-judice. The anti-graft body has implicated Gurung in a tender process for the Fun Park construction in Kathmandu.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Likewise, Koiri elected to the HoR from Mahottari-1 is in the police’s fugitive list for the murder of ASI Thaman BK. Koiri is accused of dragging the ASI from police van and killing him with spears and domestic weapons during the Madhes agitation. District Court Dhanusha had freed Mahato from jail on a bail of Rs 100,000. But, the Janakpur High Court had issued an arrest warrant later. He is still in the police’s most wanted list. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Similarly, Badshah Kurmi elected to Lumbini Provincial Assembly from Banke-3 (B), Rajiv Gurung aka Dipak Manange elected to Gandaki Provincial Assembly from Manang-B and Abhiram Sharma from Mahottari-3 (A) in Madhes Provincial Assembly will also miss the oath of office and secrecy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Abhiram Sharma is also accused of his involvement in ASI BK’s murder. Case against him is sub-judice at Mahottari District Court. Elected from Loktantraik Samajwadi Party, Sharma has already held the Ministry of Social Development in Madhes Province. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Rajiv Gurung has a case pending against him at the Supreme Court. He faces an attempt to murder charge. He has been accused of trying to murder Milan Gurung aka Chakremilan in a restaurant in Kathmandu. The case against him has moved to the Apex Court from High Court Patan. Another PA lawmaker Kurmi has been accused of killing Nirmala Kurmi and her two sons in Nepalgunj. He is in the police’s most wanted list. He had land dispute with Nirmala Kurmi for a long time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Legal professionals say that lawmaker is a public post and any elected member to the provincial assembly and federal parliament facing criminal charges will not be administered oath of office and secrecy. The law of the land bars people facing criminal charges from standing in the polls, let alone taking the oath of office and secrecy, say legal experts. </span></span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16203', 'image' => '20221206022110_KD_Kaski-1 (1).jpg', 'article_date' => '2022-12-06 14:20:29', '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' => '16476', 'article_category_id' => '1', 'title' => 'Bagmati Government Sets 25 Per Cent Limit For Cooperatives To Flow Credit In Real Estate', 'sub_title' => '', 'summary' => 'December 8: The Bagmati Province government has tightened the noose for cooperatives to disburse loan in the real estate sector.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 8: The Bagmati Province government has tightened the noose for cooperatives to disburse loan in the real estate sector. As per the new directives issued by the provincial government, cooperatives will be able to issue only 25 per cent of the total credit/loan in real estates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new provisions came into effect after the Ministry of Land Management, Cooperative and Poverty Alleviation implemented the Criteria and Provisions for Operation, Monitoring and Auditing of Cooperatives -2022 on Wednesday. The ministry implemented the new provisions stating that concentration of the loan in land and housing had increased the risk in cooperatives. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank has already set the limit for banks and financial institutions to disburse only 25 per cent of the total credit in housing and land. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While extending loan against collateral for housing and land, the ministry has directed the cooperatives not provide loans more than 40 percent of the total valuation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, issuing the Unified Directives in June-2022, the Federal Cooperative Department had issued directives to the cooperatives to classify the credit on the basis of sectors and disburse at least 51 per cent of the total credit in productive and income-generating enterprises. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new cooperatives standards by the provincial government have banned cooperatives from investing in overdraft, operators’ private businesses, gold and silver collateral. Similarly, cooperatives will not be able to float loan without any collateral. They may disburse the credit to customers only after the latter have deposited their money regularly for at least three months. Cooperatives are barred from considering interest as principal amount. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While floating the loan above Rs 1 million, they should have collateral’s valuation done by institutional valuators. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing provisions, cooperatives are registered with local, province and federal levels in accordance with their working area. Out of 30,000 cooperatives operating across the country, twenty thousand cooperatives are under the provinces’ jurisdictions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the country adopting the federal system, rights of cooperatives were transferred to the local and provincial levels. Implementation, however, has become ineffective. Bagmati Province’s Cooperative Registrar Balram Niraula said that lack of necessary laws and skilled manpower had made it hard for the management, regulation and monitoring of cooperatives despite their transfer to the local and provincial levels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Out of the total cooperatives, 80 per cent are under local levels, 19 per cent under provinces and only 1 per cent under the federal government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Failure on the part of local and province levels has led to the rise of malpractices in the cooperatives, said Niraula. He added that they were working to make the regulation and monitoring effective through new standards and criteria in Bagmati Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new criteria and standards have envisioned province and district-level mechanisms to monitor cooperatives effectively. The province-level committee chaired by Province government secretary comprises Province Cooperative Development Board’s Vice-chair, Province Registrar, Province Cooperative Federation’s Chair, and representatives from National Cooperative Federation, National Cooperative Bank, among others, as members. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee will have ministry’s law officer as its member secretary. The committee has been assigned the rights to identify and monitor the cooperatives and prepare reports about them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, new standards have envisioned a district-level monitoring and supervision committee. The committee has been delegated the responsibility to monitor and supervise the cooperatives and recommend to the province for necessary actions. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-08', 'modified' => '2022-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '16217', 'image' => '20221208120753_Real estate.jpg', 'article_date' => '2022-12-08 12:07:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16475', 'article_category_id' => '1', 'title' => 'Supply of Pure Drinking Water to Growing Population a Challenge: Experts', 'sub_title' => '', 'summary' => 'December 8: Experts said that it has become a mounting challenge to supply adequate pure drinking water, energy and food to the growing population of the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: Experts said that it has become a mounting challenge to supply adequate pure drinking water, energy and food to the growing population of the country. They made such remarks during a two-day workshop on water, energy and food nexus that concluded in Kathmandu on Wednesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the inauguration of the workshop, Secretary at the Ministry of Water Supply and Sanitation Maniram Gelal said that the demand for drinking water, energy and food has been increasing across the globe due to rapid urbanization and population growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former minister Ganesh Shah suggested that the challenges surfaced in the sector could be averted by protecting sources of water, utilizing rain water and developing technology on water efficiency for higher yields of crops and placing renewable energy measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former secretary Suman Prasad Sharma demanded serious interventions from concerned sides to reach out to the growing population with pure drinking water, adequate clean energy and nutrient-rich food. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Smart WASH Solutions Ramdeep Shah shared that the workshop was organized to learn the experiences of the advanced countries in addressing the issues of drinking water, clean energy and nourishing food in light of rising population. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">J W Lee of Asian Water Council and K-Water had delivered a presentation on how the Korea Water (K-Water) was working to address the challenges emerging in this sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Expert Dr Unahar Shin shed light on the inter-relationship between water, energy and food, urban water management, water leakage control and management style in congruent with sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prof Dr Bhim Shrestha of the Kathmandu University presented a paper on nexus between water, energy and food while Executive Director of Alternative Energy Promotion Centre (AEPC) Dr Madhusudan Adhikari presented a working paper on the contributions to drinking water, energy and food security through renewable energy technology in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-08', 'modified' => '2022-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '16216', 'image' => '20221208112046_Untitled.jpg', 'article_date' => '2022-12-08 11:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16474', 'article_category_id' => '1', 'title' => 'PM Commits to Take Initiative to Resolve the Economic Crisis', 'sub_title' => '', 'summary' => 'December 7: Prime Minister Sher Bahadur Deuba has assured the private sector to take the initiative in solving the problems seen in the economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 7: Prime Minister Sher Bahadur Deuba has assured the private sector to take the initiative in solving the problems seen in the economy. In a meeting with the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the prime minister promised to invite everyone for discussion to resolve the current problems.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI, which started a campaign to resolve the economic crisis, has been actively trying to meet top leaders of the political parties to resolve the economic problems. A delegation of FNCCI met Prime Minister Deuba in an attempt to find a way out. A press release issued by the FNCCI on Tuesday states that PM Deuba promised to resolve the issue by discussing it with the Ministry of Finance and the Nepal Rastra Bank along with the private sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI has already met CPN (UML) chairman KP Sharma Oli and CPN (Maoist Center) chair Pushpa Kamal Dahal separately and sought for their help to seek a solution to the problems. FNCCI had asked them to protect the country's economy as it under grave risk.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the statement of the federation, UML President Oli, in the meeting, admitted that the economy is in trouble, and he and his party were ready to work for a resolution. Chairman of the Maoist Center Dahal has also assured to take initiatives to solve the problem.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">FNCCI team has also met Finance Minister Janardan Sharma and Minister for Industry, Commerce and Supplies Dilendra Prasad Badu. FNCCI has urged everyone to understand the sensitivity of the economy and also provide suggestions to solve the problem.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16215', 'image' => '20221207091118_20220616042445_ROS_KTM_6483441 (1).jpg', 'article_date' => '2022-12-07 21:10:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16473', 'article_category_id' => '1', 'title' => 'Production of Paddy, Millet Drops in Myagdi', 'sub_title' => '', 'summary' => 'December 7: Production of paddy and millet has declined in Myagdi this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 7: Production of paddy and millet has declined in Myagdi this year. Compared to last year, the production of paddy and millet has dropped by 11.50 per cent and 6.87 per cent respectively in the district. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the Agriculture Knowledge Center, Myagdi, productivity of paddy and millet has shrunk by 0.3 and 0.1 ton per hectare respectively. Drought during the time of plantation and seed-bearing affected paddy and millet production, said Agriculture Knowledge Center Myagdi’s Chief Kiran Sigdel. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Sigdel said that delayed cultivation and shade from the increasing nearby forests had also led to the drop in production. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Myagdi had produced 13,480 tons of paddy and 3,490 tons of millet last year. This year, the paddy production stood at 11,929 tons while the millet production was 3,250 tons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The agro center had conducted the study on the status of millet and paddy production using crop cutting methodology in various places of the district. As per the study, paddy production has declined from 3.4 tons to 3.1 tons per hectare while the productivity of millet has contracted to 1.27 tons per hectare from 1.28 tons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Agriculture technicians had used crop cutting methodology in various parts to identify productivity of millet and paddy in the district. Paddy and millet are cultivated in 2,750 hectares and 3, 890 hectares of the land respectively in the district. </span></span></span></p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16214', 'image' => '20221207063931_20201229023041_1609198819.Clipboard13.jpg', 'article_date' => '2022-12-07 18:38:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16472', 'article_category_id' => '1', 'title' => 'Tension Runs High at Supreme Court', 'sub_title' => '', 'summary' => 'December 7: Tension ran high at the Supreme Court after the Parliament Secretariat sent a letter to suspended Chief Justice Cholendra Shumsher Jung Bahadur Rana on Wednesday stating that the impeachment motion against him has become inactive.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">December 7: Tension ran high at the Supreme Court after the Parliament Secretariat sent a letter to suspended Chief Justice Cholendra Shumsher Jung Bahadur Rana on Wednesday stating that the impeachment motion against him has become inactive.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">The tension erupted after a woman threw a shoe in protest at the apex court gate as Rana was rumored to return back to office after the impeachment motion against him became inactive.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Police personnel were deployed at the SC premises to prevent any untoward incident as crowds of people advocating for Rana’s return and those opposing his comeback gathered at the main gate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">General Secretary of the Parliament Secretariat Dr Bharatraj Gautam had sent the letter to the Office of the President, Office of the Prime Minister and Council of Ministers, Office of the Constitutional Council, Supreme Court Judicial Council and Chief Justice Cholendra Shumsher Rana stating that the impeachment motion against Rana has become ineffective from today (December 7) itself. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Rana had written a letter to the Parliament Secretariat on Tuesday requesting it to write letters to the concerned agencies and persons to inform them about the motion becoming inactive after the election of the new parliament and failure of the erstwhile parliament to conclude the motion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">In line with the same request, the parliament secretariat had written to the concerned agencies and persons about the motion becoming ineffective. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16213', 'image' => '20221207050554_1670406649.jpg', 'article_date' => '2022-12-07 17:05:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16471', 'article_category_id' => '1', 'title' => 'Over Five thousand EVs Registered in Four Months', 'sub_title' => '', 'summary' => 'December 7: A total of 5,770 electric vehicles (EVs) were registered in Nepal in the last 4 months.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">December 7: A total of 5,770 electric vehicles (EVs) were registered in Nepal in the last 4 months. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The use of EVs was expected to rise after the government imposed a ban on high-end vehicles that run on diesel and petrol. However, the data suggests that the use of electric vehicles has not increased as expected.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The registration of electric vehicles is not much encouraging due to the absence of legal system to deal with EVs and a strategy to encourage the use of such vehicles.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the Department of Transport Management (DoTM), 20,693 new EVs were registered in the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The government had set a target of increasing the use of EVs to 20 percent by the year 2020 under the Environment Friendly Vehicles and Transport Policy 2071 and the National Action Plan for Electric Mobility 2075. However, even after two years since that deadline, the use of EVs is far less than the target.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Ishwari Datta Paneru, information officer of DoTM says that the target could not be achieved due to the difficulty in managing old vehicles and the lack of a new vehicle law. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“We are still operating according to the Vehicle and Transport Management Act 2049, some of the provisions of which are not up-to-date,” he said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Stakeholders say that the lack of sufficient charging stations is also causing problems for the use of electric vehicles. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Nepal Electricity Authority spokesperson Suresh Bahadur Bhattarai informed that the work of making charging stations in 52 places across the country has reached its final stage. Spokesperson Bhattarai claims that apart from the authority, the private sector is also building charging stations at various places, so there will be no problem in the future.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Businessmen say that the demand for electric vehicles is high, which increased after the government introduced a policy of subsidizing electric vehicles. Dhruva Thapa, president of NADA Automobiles Association of Nepal, the umbrella organization of automobile dealers, said that the government's policy on electric vehicles is positive. Although the customs exemption facility given by the government on electric vehicles is giving positive results, it is very less compared to other countries.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16212', 'image' => '20221207025803_electric-car.jpg', 'article_date' => '2022-12-07 14:57:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16470', 'article_category_id' => '1', 'title' => 'Vote Counting Under Proportional Representation Over', 'sub_title' => '', 'summary' => 'December 7: Counting of votes for the House of Representatives and provincial assemblies under the proportional representation system has come to an end.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">December 7: Counting of votes for the House of Representatives and provincial assemblies under the proportional representation system has come to an end. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Election Commission Spokesperson Shalikram Sharma Poudel confirmed that vote counting in the proportional representation category has been over. According to the EC, as many as 1,056,0082 votes were counted in the PR category. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Out of the total votes counted, the CPN-UML has secured 2,845,641 votes while the Nepali Congress has garnered 2,715,225 votes followed by the CPN-Maoists Center with 1,175,684 votes and Rastriya Swatantra Party with 1,130,344 votes.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that Election Commission would send letters to the parties about the election results. Earlier, the parties had submitted the closed list of candidates to the commission under the PR category prior to the November 20 polls. As per the closed list, candidates will be elected in the proportional representation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">As per the votes garnered in proportional representation, CPN-UML will get 34 seats in the lower house of the federal parliament while the Nepali Congress will be allocated 32 seats. Likewise, CPN-Maoists Center will receive 14 seats whereas Rastriya Swatantra Party will attain 13 seats in the House of Representatives. Similarly, Rastriya Prajatantra Party will get seven seats while Janata Samajwadi Party and Janamat Party each will obtain 5 seats in the lower house. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">CPN-Unified Socialists have failed to cross the threshold of 300,000 votes despite winning 10 seats in the first-past-the post electoral system. This means that the party will not be recognized as a national party. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16211', 'image' => '20221207010739_KN_Damauli-image_6483441.jpg', 'article_date' => '2022-12-07 13:06:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16469', 'article_category_id' => '1', 'title' => 'Government Decides to Lift Ban on Import of Luxurious Goods', 'sub_title' => '', 'summary' => 'December 7: The government has decided to lift the ban imposed on the import of four types of luxurious goods.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 7: The government has decided to lift the ban imposed on the import of four types of luxurious goods. A cabinet meeting held on Tuesday took the decision to this effect. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">A source at the Ministry of Industry, Commerce and Supplies said that the cabinet meeting had agreed in principle not to prolong the import ban.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt"> The ban imposed on the import of smartphones priced above USD 300, cars, jeeps, vans, readymade liquor and motorcycles of more than 150 CC capacity by the ministry will remain in force until December 15. The ministry had presented the proposal not to extend the import ban to the Council of Ministers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Earlier, Nepal Rastra Bank and Ministry of Finance had recommended to the Ministry of Industry, Commerce and Supplies to lift the ban on the import of four kinds of goods. In accordance with the recommendation, the ministry had tabled the proposal in the Council of Ministers to remove the ban. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">After the state coffers witnessed depletion of foreign currency reserves, the Ministry of Commerce and Supplies had banned the import of 10 luxurious goods by publishing a notice in Nepal Gazette on April 26, 2022. Back then, the government had banned imports of ten items including large-sized colour television, playing cards, diamond except raw materials, cigarettes, and all kinds of toys, among others. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The primary purpose of the ban was to increase the foreign currency reserves and improve the balance of payments. </span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">With the ballooning trade deficit and rapid fall of foreign currency reserves, the government had started tightening the noose on imports of some goods since mid-December last year. Initially, Nepal Rastra Bank had set the limit on import of silver. After that, NRB set fifty per cent and 100 per cent cash margin provisions while opening letter of credit (LC) to import luxurious goods. Even with these measures in place, the import did not seem to decline. This had made the central bank to verbally direct the CEOs of commercial banks to stop opening LCs to import vehicles for personal use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">As a last measure, the government had decided to ban the import of luxurious goods. Nepali importers, however, claimed that import of goods other than two-wheelers and four-wheelers had not stopped despite the ban due to the open border which Nepal shares with India. They claimed that the banned items were being smuggled into the country unabated. The import ban has failed to meet the government’s revenue collection target as well. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16210', 'image' => '20221207010125_liquor.jpg', 'article_date' => '2022-12-07 13:00:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16468', 'article_category_id' => '1', 'title' => 'India, China Benefit from Cheaper Russian Oil', 'sub_title' => '', 'summary' => 'December 7: India and China have emerged as the largest buyers of Russian oil after Western nations decided to restrict purchases and impose sanctions on oil imports following Russian invasion of Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: India and China have emerged as the largest buyers of Russian oil after Western nations decided to restrict purchases and impose sanctions on oil imports following Russian invasion of Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, a plan by the major G7 economies - backed by the EU and Australia - to cap the price at which Russian oil is bought has created uncertainty in global markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">And as major oil-producing nations seek to maintain global prices by controlling output, Russia has been offering its oil at a discount to willing buyers in Asia, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“India's imports of Russian oil have risen from a very low base at the start of the year reaching a peak in June and July, and largely maintaining these levels through to November. China's purchases of Russian oil have fluctuated this year, falling in February at the start of Russia's invasion of Ukraine, but then rising significantly in the following months.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Russia has been selling oil at a discounted rate since March this year after the Ukraine invasion, BBC wrote in a news report published on its website on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In March, combined oil imports by China and India from Russia overtook those from the 27 EU member states. From late November, there appears to have been a renewed surge in oil purchases by India, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Experts suggest that if oil supplies continue at the same levels in December, Russia could become India's largest single supplier. Other countries have also taken advantage of discounted Russian crude - for example Sri Lanka, which has been grappling with a severe economic crisis. Pakistan has also been negotiating with Russia to purchase discounted oil, although no deal has yet been struck.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, the Indian government has defended its purchases from Russia, saying it has to source oil from where it is cheapest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Indian Oil Corporation (IOC) is the main supplier of petroleum product to Nepal but it is not certain whether the IOC will slash the fue prices for Nepal or not.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16209', 'image' => '20221207115422_oil.jpg', 'article_date' => '2022-12-07 11:52:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16467', 'article_category_id' => '1', 'title' => 'Ronaldo’s Replacement Stars as Portugal Demolish Switzerland 6-1', 'sub_title' => '', 'summary' => 'December 7: Portugal coach Fernando Santos dropped Cristiano Ronaldo from the starting line-up for their last-16 meeting with Switzerland and was rewarded with a hat-trick from replacement Goncalo Ramos and a stunning team display.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Portugal coach Fernando Santos dropped Cristiano Ronaldo from the starting line-up for their last-16 meeting with Switzerland on Tuesday and was rewarded with a hat-trick from replacement Goncalo Ramos and a stunning team display.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In a brave and bold move that turned out to be a coaching masterstroke, Santos left the five-time Ballon D'Or winner Ronaldo on the bench and gave the 21-year-old, nicknamed 'the Sorcerer', his first start, and the forward instantly lived up to his moniker, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, Santos expressed his displeasure at gestures made by Ronaldo when he was substituted in the last group game against South Korea and it was the first time in 31 games stretching back to 2008 that he had not started in a major tournament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Portugal made light of the 37-year-old's absence to put it mildly, as 21-year-old Benfica striker Ramos hit the first treble of this tournament on his first international start, to help set up a quarter-final against surprise package Morocco after their win against Spain on penalties, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ramos started the rout after 17 minutes when he drilled a finish past Swiss keeper Jan Sommer at the near post before veteran 39-year-old defender Pepe doubled Portugal's lead when he headed home Bruno Fernandes' corner in the 33rd minute.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, the dream full debut continued when Ramos effectively ended the contest with a near post swoop on Diogo Dalot's cross six minutes after the break, the striker turning provider to set up Raphael Guerriero to round off a sweeping move with a powerful strike four minutes later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manchester City defender Manuel Akanji pulled one back for Switzerland but Ramos swiftly got his third with a clever chip, which was the signal for the crowd at Lusail Stadium to noisily demand Ronaldo's introduction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Portugal coach Ramos obliged with the game won, Ronaldo entering to rapturous applause, but his team-mates deserve all the acclaim for a high-class performance. Ronaldo had the ball in the net but was ruled offside so it was another young pretender to his crown, 23-year-old Rafael Leao, who crowned a dazzling display when he curled in the sixth.”</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">a</span></span></p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16208', 'image' => '20221207105721_2559056-ram.jpg', 'article_date' => '2022-12-07 10:56:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16466', 'article_category_id' => '1', 'title' => 'Morocco Stun Spain in Penalty Shootout', 'sub_title' => '', 'summary' => 'December 7: Morocco kept the World Cup dreams of the Arab world alive as they eliminated fancied Spain in a penalty shootout on Tuesday to reach the quarter-finals.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Morocco kept the World Cup dreams of the Arab world alive as they eliminated fancied Spain in a penalty shootout on Tuesday to reach the quarter-finals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, Morocco became the first Arab nation to advance to the last eight, ensuring a breakthrough for the region in the first global tournament in the Middle East, and also became the fourth African side to go this far in World Cup history. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Morocco, who edged Spain 3-0 in the shootout after a 0-0 draw at the end of two hours of energy-sapping action, now have a chance to become both the Arab world and Africa's first-ever semi-finalists if they continue to use the overwhelming support that has backed them through an impressive array of results, added the news agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the BBC reported that Spain failed to convert any of their three penalties, with goalkeeper Yassine Bounou brilliantly saving two. That left Paris St-Germain's Achraf Hakimi - born and raised in Madrid no less - to win it with his nerveless spot-kick and spark jubilant scenes in the stands.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Morocco will next face Portugal in the quarter-final at Doha’s Al Thumama Stadium.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-07', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16207', 'image' => '20221207104634_AT65CKAYDZE726RR2YJF3NIZP4.jpg', 'article_date' => '2022-12-07 10:45:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16465', 'article_category_id' => '1', 'title' => 'Tourist Buses to Ply to World Heritage Sites for Foreign Visitors', 'sub_title' => '', 'summary' => 'December 6: The government has decided to operate five buses of Sajha Yatayat to facilitate tourists to visit world heritage sites in the Kathmandu Valley.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">December 6: The government has decided to operate five buses of Sajha Yatayat to facilitate tourists to visit world heritage sites in the Kathmandu Valley.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Under the “Tourism Revival Workplan”, the government will commence bus services from January 1, 2023. The buses will ply to Patan Durbar Square, Swoyambhu, Bauddha, and Pashupatinath Temple from the start of the English New Year. Likewise, tourist buses will be launched in the world heritage sites located in Bhaktapur after some weeks. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Once the tourists purchase the tickets, they can travel to the designated sites at their convenience and would not have to pay extra amount to visit other designated places. The bus service is expected to save tourists’ time and ease their travel. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Minister of Culture, Tourism, and Civil Aviation Jeevan Ram Shrestha said that the government was working to start bus services to help guests reach the world heritage sites and other important places with ease and convenience. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:17.0pt">Earlier, the government had started a heritage route from world heritage site Basantpur Durbar Square to Swoyambhu to attract more tourists. Work is underway to develop necessary infrastructures along the route.</span></span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '16206', 'image' => '20221206082610_basantapur.jpg', 'article_date' => '2022-12-06 20:25:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16464', 'article_category_id' => '1', 'title' => 'Share Transaction of 21 Companies still Suspended', 'sub_title' => '', 'summary' => 'December 6: The share transaction of 21 companies is yet to resume despite new legal provisions that allow suspension of trading of companies opting for merger or acquisition for a maximum of 15 working days.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 6: The share transaction of 21 companies is yet to resume despite new legal provisions that allow suspension of trading of companies opting for merger or acquisition for a maximum of 15 working days. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal has already implemented the Guidelines on Merger and Acquisition of Organized Institutions 2079 starting from November 10. According to the provisions in the guidelines, the share transaction of listed companies will be suspended for a maximum of 15 days once they complete all the processes required for merger or acquisition and start integrated business. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The share transaction of 34 companies which were in the process of merger or acquisition was suspended before the new guidelines were implemented. The suspension on trading of share other than primary shares of those companies should have been lifted as per the new provision.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">But the concerned bodies have lifted the suspension of only 13 companies. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the new arrangement, the companies should submit application to the securities market operator Nepal Stock Exchange Limited (NEPSE) and the central deposit service provider CDS and Clearing Limited (CDSC) to lift the suspension on share transactions of shares other than the primary shares.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEPSE, the operator of the securities market, has informed that the suspension of share transaction can be removed a day after the concerned company submits application with the details of the primary shareholders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEPSE spokesperson Murahari Parajuli said that it takes only a few minutes for the company to prepare the details of the primary shareholders. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16205', 'image' => '20221206053049_20190522025606_20190522121752_nepse.jpg', 'article_date' => '2022-12-06 17:30:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16463', 'article_category_id' => '1', 'title' => 'Four Cooperatives in Bauddha-Jorpati Area Turn Problematic', 'sub_title' => '', 'summary' => 'December 6: Four cooperatives in Bauddha-Jorpati area have turned problematic. Some of them have even closed their offices. Those who are still operating are not able to return the full deposits of the customers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 6: Four cooperatives in Bauddha-Jorpati area have turned problematic. Some of them have even closed their offices. Those who are still operating are not able to return the full deposits of the customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The problematic cooperatives include Sumo Savings and Cooperative, Bauddha-6, Mukti Savings and Credit Cooperative, Gokarnashwar-6, Manjushree Savings and Credit Cooperative, Jorpati-5, and Sworna Laxmi Savings and Credit Cooperative, Gokarnashwar-5. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Jorpati-based police beat informed New Business Age that and Sworna Laxmi Savings and Credit Cooperative has already removed its board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The depositors of Mukti Savings and Cooperatives have reached an understanding with the board members of the cooperative after they agreed to return the deposits. The two sides reached such understanding at the ward office in the area where the cooperative had been operating.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The depositors said that the cooperative agreed to return back their money at the initiative of ward chairman Navaraj Lama.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kabindra Adhikari, who runs a mobile shop in front of Manjushree Cooperative, says that he is doubtful if the cooperative will return back their money because the board members often pledge to return the amount but never keep their promise. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most of these cooperatives have stopped receiving calls from the customers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other depositors are alarmed because Manjushree Cooperative has remained closed since the past three months. The customers who reach the cooperative to withdraw their deposits have found notice posted on the office since August stating that the cooperative needs some more time to return the money. However, the cooperative is yet to return the money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the cooperative did not return the money on Sunday, after postponing the date several times, the depositors staged a sit-in at the main crossroads of Jorpati for two hours. Chariman of the cooperative Indra Lama and other board members did not receive phone calls. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another customers Umesh Khatiwada said that it has been seven months since the cooperative stopped returning their money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“They closed the office after Dashain,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After the operators of the cooperative did not pick up the phone, the depositors reached the house of Chairman Lama.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lama said that the cooperative was unable to return the money because the borrowers were yet to pay the loan. He said that the cooperative owes Rs 110 million to the depositors while it has given out loans of Rs 70 million. It has a building worth Rs 50 million and a total capital of Rs 130 million. Therefore, Lama assured that the cooperative will pay back the depositors anyhow.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One of the depositors Shyam Lama says that they are in trouble because the government authorities responsible of looking after the issues related to cooperatives failed in effective monitoring the cooperatives. </span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16204', 'image' => '20221206030452_cooperative problematic.jpg', 'article_date' => '2022-12-06 15:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16462', 'article_category_id' => '1', 'title' => 'Murder and Corruption-Accused MPs to Miss Oath of Office and Secrecy', 'sub_title' => '', 'summary' => 'December 6: Five newly-elected lawmakers from the ruling coalition and the main opposition party will not be able to take oath of office and secrecy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">December 6: Five newly-elected lawmakers from the ruling coalition and the main opposition party will not be able to take oath of office and secrecy. Two members of lower house of the federal parliament and three members of provincial assemblies will not be administered oath of office and secrecy since they have pending court cases against them and are in the most wanted list of the police.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Laxmi Mahato Koiri elected to the House of Representatives from Mahottari-1 and Tek Bahadur Gurung elected to the HoR from Manang will miss their oath of office and secrecy. Gurung faces a corruption charge of Rs 310 million. The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against him and the case is sub-judice. The anti-graft body has implicated Gurung in a tender process for the Fun Park construction in Kathmandu.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Likewise, Koiri elected to the HoR from Mahottari-1 is in the police’s fugitive list for the murder of ASI Thaman BK. Koiri is accused of dragging the ASI from police van and killing him with spears and domestic weapons during the Madhes agitation. District Court Dhanusha had freed Mahato from jail on a bail of Rs 100,000. But, the Janakpur High Court had issued an arrest warrant later. He is still in the police’s most wanted list. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Similarly, Badshah Kurmi elected to Lumbini Provincial Assembly from Banke-3 (B), Rajiv Gurung aka Dipak Manange elected to Gandaki Provincial Assembly from Manang-B and Abhiram Sharma from Mahottari-3 (A) in Madhes Provincial Assembly will also miss the oath of office and secrecy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Abhiram Sharma is also accused of his involvement in ASI BK’s murder. Case against him is sub-judice at Mahottari District Court. Elected from Loktantraik Samajwadi Party, Sharma has already held the Ministry of Social Development in Madhes Province. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Rajiv Gurung has a case pending against him at the Supreme Court. He faces an attempt to murder charge. He has been accused of trying to murder Milan Gurung aka Chakremilan in a restaurant in Kathmandu. The case against him has moved to the Apex Court from High Court Patan. Another PA lawmaker Kurmi has been accused of killing Nirmala Kurmi and her two sons in Nepalgunj. He is in the police’s most wanted list. He had land dispute with Nirmala Kurmi for a long time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Legal professionals say that lawmaker is a public post and any elected member to the provincial assembly and federal parliament facing criminal charges will not be administered oath of office and secrecy. The law of the land bars people facing criminal charges from standing in the polls, let alone taking the oath of office and secrecy, say legal experts. </span></span></span></p> ', 'published' => true, 'created' => '2022-12-06', 'modified' => '2022-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '16203', 'image' => '20221206022110_KD_Kaski-1 (1).jpg', 'article_date' => '2022-12-06 14:20:29', '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
